Document:

Exhibit 10.10

 

Pursuant to Item 601(b)(10)(iv)
of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed

 

CONSULTING AGREEMENT

 

THIS CONSULTING AGREEMENT (“Agreement”)
is entered into on the 24 March 2022 by and between Ocean Street Partners, Inc. (hereinafter “Consultant”) and GelTeq Pty Ltd,
an Australian corporation (hereinafter “Company”).

 

HEREAFTER the Company and Consultant are referred
to collectively as “Parties”, and singularly as “Party”.

 

WHEREAS the Parties desire to set forth the
terms and conditions under which the said financial and strategic planning services shall be performed,

 

NOW, THEREFORE in consideration of the promises
of the mutual covenants herein, the Parties hereto agree as follows:

 

ARTICLE I-SCOPE OF SERVICES

 

During the term of this Agreement, Consultant shall
provide advice to undertake for, and consult with the Company and/or its subsidiaries concerning financial and strategic planning, including,
corporate organization and structure, financial matters in connection with the operation of the business of the Company, expansion of
services, and shall review and advise the Company regarding its overall progress, needs, and condition and the Services set out in the
Schedule. Consultant agrees to provide on a timely basis the following enumerated services in addition to any other services contemplated
thereby:

 

(a)
Work with the Company to rewrite the current SEC Form F-1.

 

(b) Evaluate
and assist in any potential joint venture and/or business development candidates for the Company.

 

(c) Interface,
screen and potentially manage outside service providers including, but not limited to, assisting CMA Investor and Media Relations on Company
investor decks both pre and post IPO.

 

(d) Advise
with recommendations regarding corporate financing including the structuring, terms, and content of bank loans, institutional loans, private
debt funding, mezzanine financing, and other equity or debt financing of a public and/or private nature and work with Company to assemble
and organize due diligence materials for presentation to potential financing sources.

 

(e) Assist
in negotiating the terms and conditions of a financing as well as introduce potential investors and orders leading up to the IPO.

 

(f) Introduce
the Company to business development opportunities, and capital sources to provide equity and/or debt financing.

 

(g) Review
and provide advice and/or assistance in the presentation, design, style and functionality of the Company’s public
communication materials, including the Company’s website and corporate presentations from time to time at various industry
and/or investment banking conferences and tradeshows for the purpose of raising the public awareness of the Company and its
properties.

 

1048 Irvine Ave •
Suite 1004 • Newport Beach, CA• 92660 • [*****] • www.oceanstreetpartners.com

 

     

     

    

 

(h) Manage,
coordinate, and assist with a NASDAQ IPO and listing with an estimated goal of a successful listing on or before May 31, 2022.

 

(i) Work with
the Company to identify and document the services to be provided by the Consultant to the Company in respect of post listing consulting
services including advising the Company on what services and compliance matters will be required for the Company to comply with its obligations
as a listed entity and assisting with such obligations. The monthly service fees paid under this agreement are in consideration of the
provision of all such services.

 

Anything to the contrary in this Agreement notwithstanding,
the services to be rendered by Consultant shall not include any activities which could be deemed by the Securities and Exchange Commission
to constitute activities requiring Consultant to be registered as a broker-dealer under the Securities Exchange Act of 1934, as amended.

 

ARTICLE II-PERIOD OF PERFORMANCE

 

The Period of Performance under this Agreement shall
begin immediately upon execution by both parties and will continue for an initial twelve (12) month period. Prior to the Company listing
on the NASDAQ, this Agreement may be terminated by either party with at least 30 days advance written notice provided that the Consultant
continues to provide the Services under this Agreement during the notice period. After the Company has listed on the NASDAQ, this Agreement
may be canceled by either party with at least 60 days advance written notice provided that the Consultant continues to provide the Services
under this Agreement during the notice period.

 

ARTICLE III-CONTRACTUAL RELATIONSHIP

 

In performing the services under this Agreement, Consultant
shall operate as, and have the status of, an independent contractor. Consultant shall not have authority to enter into any contract binding
the Company or create any obligations on the part of the Company, except as shall be specifically authorized by the Company. The Company
and Consultant will be mutually responsible for determining the means and the methods for performing the services described in ARTICLE
I.

 

ARTICLE IV-COMPENSATION

 

As full consideration for the performance of the basic
services described above, the Company shall pay Consultant, or their broker dealer affiliate if applicable, compensation as set forth
on Exhibit A to this Agreement.

 

1048 Irvine Ave
• Suite 1004 • Newport Beach, CA• 92660 • [*****] • www.oceanstreetpartners.com

 

    2

     

    

 

ARTICLE V- DUE DILIGENCE MATERIAL

 

Subject to review by Consultant, the Company shall provide the
required Due Diligence Materials. The Company represents and warrants that to the best of its knowledge: the information contained
in its Due Diligence Materials will not include any misstatement of material fact or omit to state any material fact required to be
stated therein or necessary to make statements contained therein, in light of the circumstances under which they are being made, not
misleading. The Company agrees to advise Consultant immediately in writing of the occurrence of any event or any other change known
to the Company which results in the Due Diligence Materials containing a misstatement of material fact or omitting any material fact
required to be stated therein or necessary to make statements therein, in light of the circumstances under which they were made, not
misleading. The Company agrees to be solely responsible for the accuracy and completeness of the Due Diligence Materials. The
Consultant agrees to immediately notify the Company upon becoming aware of any inaccuracy or misstatement or misleading statement in
the Due Diligence Materials. The Company further agrees that its failure or inability to expeditiously provide such data or
information, or to secure timely access to key personnel and facilities, may have a material adverse effect on the scope, timing and
success of this engagement. The Consultant agrees that it will notify the Company of all materials that it requires in a timely
manner sufficient for the Company to prepare the Due Diligence Materials having regard to the nature of the requirement. The Company
authorizes Consultant, as its agent, to furnish any financing source with copies of the Due Diligence Materials and any other
documents or relevant information supplied to Consultant, so long as the source is under NDA. Since Consultant must at all times
rely upon the accuracy and completeness of information supplied to it by the Company’s officers, directors, agents, and employees,
the Company agrees to indemnify, hold harmless, and defend Consultant, its officers, agents or employees at the Company’s
expense, in any proceeding or suit which may arise out of and/or due to any inaccuracy or incompleteness of such Due Diligence
Material supplied by the Company to Consultant.

 

Company acknowledges that there is an affirmative obligation
on its part to use its best efforts to assist Consultant in its efforts and performance under this Agreement, such as making Company representatives
reasonably available for participation in investor presentations and meetings, providing reasonable responses to and/or documentation
addressing requests for Due Diligence Material and other actions as Consultant may reasonably request in its sole discretion. The Consultant
acknowledges that it must provide sufficient notice to the Company of requirements of the Company set out in this clause in order for
the Company to comply and have sufficient time to prepare for such presentations and meetings.

 

ARTICLE VI-INDEMNIFICATION

 

Company’s indemnity to the Consultant: The
Company agrees to indemnify, defend and hold harmless the Consultant, its officers and its respective agents and affiliates against any
and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, all expenses reasonably incurred in investigating,
preparing or defending against any litigation commenced or threatened, or any claim whatsoever) arising out of the Company’s performance
of its obligations hereunder or any violation or alleged violation by Company of any law relating thereto. This indemnity shall not apply
either in full or part, and Consultant shall indemnify and hold Company and its respective agents harmless from and against all liabilities,
where the liability was caused or contributed by the Consultant’s or its agents’ or affiliates’ act, omission, negligence
or breach of this Agreement or law.

 

1048 Irvine Ave
• Suite 1004 • Newport Beach, CA• 92660 • [*****] • www.oceanstreetpartners.com

 

    3

     

    

 

Consultant’s indemnity to Company: The Consultant
agrees to indemnify, defend and hold harmless the Company, its officers and its respective agents and affiliates against any and all loss,
liability, claim, damage and expense whatsoever (including, but not limited to, all expenses reasonably incurred in investigating, preparing
or defending against any litigation commenced or threatened, or any claim whatsoever) arising out of the Consultant’s performance
of its obligations hereunder or any violation or alleged violation by Consultant of any law relating thereto. This indemnity shall not
apply either in full or part, and Company shall indemnify and hold Consultant and its respective agents harmless from and against all
liabilities, where the liability was caused or contributed by the Company’s or its agents’ or affiliates’ act, omission,
negligence or breach of this Agreement or law.

 

ARTICLE VII-ASSIGNMENT

 

This Agreement may not be assigned by either Party,
including but limited to assignment by operation of law, without the express written consent of the other Party, which consent such Party
may grant or withhold in its sole discretion. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their
successors and permitted assigns. A change of control of the Consultant will be a deemed assignment as though the entity taking control
was an assignee.

 

ARTICLE VIII-REPRESENTATIVE AND NOTICES

 

All notices, requests, demands and other communications
under this Agreement shall be in writing and shall be deemed to have been duly given: (a) on the date of service if served personally
on the party to whom notice is to be given; (b) on the day of transmission if sent via email or facsimile transmission during normal business
hours, and on the day immediately following transmission if sent via email or facsimile after normal business hours, to the email address
or facsimile number given below, and confirmation of receipt is obtained promptly after completion of transmission; (c) on the day after
delivery to Federal Express or a similar overnight courier or the Express Mail service maintained by the United States Postal Service;
or (d) on the fifth (5th) day after mailing, if mailed to the party to whom notice is to be given, by first class mail, registered or
certified, postage prepaid and properly addressed, to the party as follows:

 

	 	If to Company:	GelTeq Pty Ltd
	 	 	Level 7, 612-616 St Kilda Road
	 	 	Melbourne VIC 3004, Australia
	 	 	Attention: Nathan Givoni
	 	 	Email: [*****]
	 	 	 
	 	If to Consultant:	Ocean Street Partners, Inc.
	 	 	1048 Irvine Avenue, Suite 1004
	 	 	Newport Beach, CA 92660
	 	 	Attention: [*****]
	 	 	Facsimile: [*****]
	 	 	Email: [*****]

 

Any Party may change its address for the purpose of this section by
giving the other Party written notice of its new address in the manner set forth above.

 

ARTICLE IX-GOVERNING LAW AND VENUE

 

This Agreement shall be governed by and construed in accordance
with the laws of the State of New York.

 

If a dispute arises out of or relates to
this Agreement, a party must not commence any court or other proceedings relating to the dispute and agrees instead to follow the following
procedure:

 

		(a)	the party claiming that a dispute has arisen must give written notice to the other
party specifying the nature of the dispute;
	 	 	 

		(b)	on receipt of that notice by that other party, the parties must endeavour in good
faith to resolve the dispute using informal dispute resolution techniques such as mediation, expert evaluation, arbitration or similar
methods agreed by them;
	 	 	 

		(c)	if the parties do not agree within 10 days of receipt of the notice (or such further
period as the parties agree in writing) as to:
	 	 	 

		A.	the dispute resolution method and procedures to be adopted;

 

		B.	the timetable for all steps in those procedures; and

 

		C.	the selection and compensation of the independent person required
for such method,

 

the parties must mediate the dispute
in accordance with the Mediation Rules of the International Chamber of Commerce. The parties agree that no dispute arising under this
agreement will be brought or litigated in a court.

 

1048 Irvine Ave
• Suite 1004 • Newport Beach, CA• 92660 • [*****] • www.oceanstreetpartners.com

 

    4

     

    

 

ARTICLE X-OTHER ACTIVITIES OF CONSULTANT

 

The Company recognizes that Consultant now renders
and may continue to render services of the same nature as it will be rendering to the Company to other companies that may conduct business
and activities similar to those of the Company. Nothing in this Agreement shall prevent or prohibit Consultant from working with any other
person or entity (a “Third Party”) at any time provided that the Third Party does not provide or manufacture gel based nutritional
or supplement products Consultant shall not be required to devote its full time and attention to the performance of its duties under this
Agreement, but shall devote only so much of its time and attention as it deems reasonable or necessary in order to provide the agreed
upon services hereunder. The Consultant agrees that it will resource its obligations under this Agreement so that it is responsive to
the Company and is able to meet agreed project deadlines.

 

ARTICLE XI – CONFIDENTIALITY

 

Confidential Information includes any information
marked as confidential and any information received or developed by the Company, which is not publicly available relating to any aspect
of the Company’s actual business, proposed business or that of its affiliates or associates or subsidiaries (including without limitation:
and any formulations, customer data, supplier information, ingredients, fundraising strategy, information pertaining to the proposed listing,
investor and prospective investor information, investment documents, marketing decks, prospective clients, recipes, product data, strategies,
patents, marketing information, strategy and proposed products) , whether provided directly to the Consultant or made available to the
Consultant in any form whether material, document or verbal.

 

The Consultant agrees to keep the
Confidential Information confidential and to use and disclose such information only for the purposes of performance of its obligations
under this Agreement and otherwise if such disclosure is in the best interests of the Company.

 

The Consultant agrees that it will:

 

		(a)	not disclose any Confidential Information to anyone else except as permitted under
this Agreement and the recipient is aware of and will be bound in writing by confidentiality obligations; and
	 	 	 

		(b)	limit the disclosure of the Confidential Information within its own organization
only to those of its officers, contractors, and employees to whom such disclosure is strictly necessary for the purposes of this Agreement
and who have been made aware of its confidential nature and have agreed to keep the information confidential in accordance with the terms
of this clause.

 

The obligations of confidentiality
in this clause will not apply to information which:

 

		(a)	is generally available in the public domain except where such availability is as
a result of a breach of this Agreement; or
	 	 	 

		(b)	is required to be disclosed by an applicable law or court order.

 

The Consultant agrees to indemnify
the Company fully against all damages, losses, liabilities, claims, costs and expenses which the Company incur either directly or indirectly
as a result of any breach of this clause by the Consultant.

 

ARTICLE XI(A) - INTELLECTUAL PROPERTY

 

The provision of the Services may
include the development of Intellectual Property (Materials) either solely or jointly with others. The Contractor hereby:

 

		(a)	assigns immediately, upon creation of the Materials, to the Company absolutely
all rights), title, and interest in and to the Materials and all Intellectual Property in the Materials for use in any manner and in all
media now known or in the future devised;
	 	 	 

		(b)	warrants to the Company that:

 

		(i)	it will not either on its own or via a third party or provide assistance to a third
party to breach, infringe or circumvent the intellectual property rights of the Company in the Materials or any intellectual property
owned or licensed by the Company;
	 	 	 

		(ii)	the use and exploitation of the Materials by the Company will not constitute an
infringement of the copyright, other Intellectual Property rights, or Moral Rights held by a third party or a breach of a duty of confidence
owed to a third party;

 

1048 Irvine Ave
• Suite 1004 • Newport Beach, CA• 92660 • (949) [*****] • www.oceanstreetpartners.com

 

    5

     

    

 

		(iii)	the Contractor has not entered, and will not enter, into any agreement that would prevent or limit the
Company’s rights under this Agreement; and
	 	 	 

		(iv)	the Contractor has not, and will not, charge or otherwise encumber, assign or in any way deal with the
Materials.

 

ARTICLE XII-MISCELLANEOUS

 

This Agreement sets forth the entire understanding of
the Parties relating to the subject matter hereof, and supersedes and cancels any prior communications, understandings and agreements
between the Parties.

The parties hereby acknowledge that no representations
or warranties have been made other than those expressly recorded in this Agreement and that, in respect of this Agreement or any part
of it including the transactions contemplated pursuant to this Agreement, no party has relied or will rely upon any representations or
information, whether oral or written, previously provided to or discovered by it.

 

No agreements hereafter made between the Parties shall
be binding on either Party unless reduced to writing and signed by an authorized officer of the Party bound thereby.

 

This Agreement may be executed in counterpart signatures,
each of which shall be deemed an original, but all of which, when taken together, shall constitute one and the same instrument, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile or scanned
email transmission or DocuSign, or equivalent, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature page were an original
thereof.

 

The invalidity, illegality, or unenforceability of
any provision or provisions of this Agreement will not affect any other provision of this Agreement, which will remain in full force and
effect, nor will the invalidity, illegality, or unenforceability of a portion of any provision of this Agreement affect the balance of
such provision. In the event that any one or more of the provisions contained in this Agreement or any portion thereof shall for any reason
be held to be invalid, illegal, or unenforceable in any respect, this Agreement shall be reformed, construed, and enforced as if such
invalid, illegal, or unenforceable provision had never been contained herein.

 

Each party must pay its costs of entering into and negotiation
of this Agreement.

 

(Signature Page to Follow)

 

1048 Irvine Ave
• Suite 1004 • Newport Beach, CA• 92660 • [*****] • www.oceanstreetpartners.com

 

    6

     

    

 

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

 

	GELTEQ PTY LTD	 	 
	 	 	 
	 	 	DATE 24/3/22
	/S/
    NATHAN GIVONI	 	 
	BY: 	NATHAN GIVONI	 	 
	ITS:	CEO & BOARD DIRECTOR	 	 
	(I acknowledge that I have the authority to bind the corporation)	 	 
	 	 	 
	OCEAN STREET PARTNERS, INC.	 	 
	 	 	DATE 24/3/22
	/S/
    Authorized Signatory	 	 
	BY:	Authorized Signatory	 	 
	ITS:	PRESIDENT	 	 
	(I acknowledge that I have the authority to bind the corporation)	 	 

 

1048 Irvine Ave •
Suite 1004 • Newport Beach, CA• 92660 • [*****]• www.oceanstreetpartners.com

 

    7

     

    

 

 

 

EXHIBIT
A 

 

COMPENSATION

	Item No	Item	Description
	1.	Date of Agreement	24 March 2022
	2.	Company details	Company name	Gelteq Pty Ltd
	ACN	916 501 254
	Address	Level 7, 612-6161 St Kilda Road,

 Melbourne, VIC, 3004
	Contact	Nathan Givoni
	Email	[*****]
	3.	Contractor details	Company name	Ocean Street Partners Inc
	Company Number	[insert]
	Address	Suite 1004

 1048 Irvine Ave 

Newport Beach 

California USA 92660
	Phone	[*****]
	Email	[*****]
	4.	Representative details	Name 

Phone	[*****]

[*****]
	Email	[*****]
	5.	Commencement Date	12 January 2022

 

1048 Irvine Ave •
Suite 1004• Newport Beach, CA• 92660• [*****] • www.oceanstreetpartners.com

 

    8

     

    

 

 

 

	6.	Services	Pre IPO Services
	 	 	 
	 	 	(a) 	Assist the Company with the current SEC Form F-1.
	 	 	(b) 	Evaluate and assist in any potential joint venture and/or business
development candidates for the Company.
	 	 	(c) 	Interface, screen and potentially manage outside service providers
including, but not limited to, assisting CMA Investor and Media Relations on Company investor decks both pre and post IPO.

	 	 	(d) 	Advise
    with recommendations regarding corporate financing including the structuring, terms, and content of bank loans, institutional loans, private debt funding, mezzanine financing, and other equity or debt financing of a public and/or private nature and work with Company to assemble and organize due diligence materials for presentation to potential financing sources.
	 	 	(e) 	Introduce the Company to business development opportunities,
and capital sources to provide equity and/or debt financing.
	 	 	(f) 	Review and provide advice and/or assistance in the presentation,
design, style and functionality of the Company’s public communication materials, including the Company’s website and corporate presentations
from time to time at various industry and/or investment banking conferences and tradeshows for the purpose of raising the public awareness
of the Company and its properties.
	 	 	(g)	
    Assist with a NASDAQ IPO and listing with an estimated goal of a
    successful listing on or before May 31, 2022.
	 	 	 	 
	 	 	Post IPO Services
	 	 	 
	 	 	(a) 	Work with the Company on what services and compliance matters
will be required for the Company to comply with its obligations as a listed entity and assisting with such obligations.
	 	 	(b)	 Advice regarding the Company’s obligations as a NASDAQ
listed entity.
	 	 	(c)	 Advice regarding the regulations and standards and best
practice that the Company must adhere to as a NASDAQ listed entity.
	 	 	(d)	 Assist with any relevant policies and procedures required
by the Company to comply with its listing obligations.
	 	 	(e) 	Review the Company’s systems and process in particular with
regards to reporting obligations.
	 	 	(f)	 Provide the Company with advice on its reporting obligations.
	 	 	(g)	 Review and advise on the Company’s corporate governance
policies and procedures.
	 	 	(h)	 Advice on board composition and diversity and meeting requirements.
	 	 	 
	 	 	Anything
    to the contrary in this Agreement notwithstanding, the services to be rendered by Consultant shall not include any activities which
    could be deemed by the Securities and Exchange Commission to constitute activities requiring Consultant to be registered as a broker-dealer under the Securities Exchange Act of 1934, as amended.
	 	 	
	7.	Contract Fee	
    For the
    purposes of this Agreement, the Listing Date is achieved if the Company, with the assistance of Boustead Securities has listed on
    the NASDAQ exchange by 30 September 2022 and will be the date that the Company is listed on the NASDAQ. If the listing has not
    occurred by that date, or if this Agreement is terminated prior to the Listing Date then the Listing Date will not have been achieved.

 

1048 Irvine Ave • Suite
1004• Newport Beach, CA• 92660• [*****]• www.oceanstreetpartners.com

 

    9

     

    

 

 

 

	 	 	Retainer
	 	 	 
	 	 	In consideration of the Consultant providing the Services under this Agreement, the Company agrees to pay the Consultant a monthly retainer of US$15,000 (pro rata for any part months at the start or end of the term). This monthly retainer will accrue and is only payable from the Listing Date. The Consultant agrees that if the Listing Date is not achieved then it will waiver the retainer fee and no amount will be payable by the Company.
	 	 	 
	 	 	Shares
	 	 	 
	 	 	Upon execution of this Agreement by both parties: 143,360 Common Shares in the Company are to be issued to the Contractor.

                                                                                 

	 	 	If the Listing Date is
    not achieved, through no fault of the Company, by 30 September 2022 then the parties agree that the Contractor will, by 30 October
    2022, return the issued 143,360 shares earned upon signing of this Agreement to the Company for no consideration and will sign all
    documents and do all things necessary to give effect to such transfer immediately upon request of the Company. If however the
    Listing cannot occur through a direct fault of the Company be it through, an auditing factor, lack of proper management, lack of
    processes and procedures that the underwriter, auditor, legal counsel of the underwriter or the SEC, FINRA or NASDAQ deems lacking
    and thus a Listing is not feasible then the shares will be retained by the Contractor. provided that the Contractor is using its
    best efforts in assisting the Company to find alternative IPO solutions such as alternative funding and/or M&A solutions.
	 	 	
	 	 	Cash bonus 
	 	 	 
	 	 	The Company agrees to pay the Consultant the amount of US$82,500 within 5 business days of receipt by the Company of US$1,000,000 or pro rata amount thereof via a pre-IPO financing by Boustead Securities by 31 March 2022.
	 	 	 
	 	 	A further US$182,500 will also be paid within 10 days of the Company achieving the Listing Date.
	 	 	 
	 	 	Business development
	 	 	 
	 	 	Should any potential business development opportunities arise through contacts of Contractor, then the Company agrees to pay the Contractor the BD Fee provided that:
	 	 	 
	 	 	(c)	 the contact was not known to the Company at the time of the Contractor making an introduction;

 

1048 Irvine Ave • Suite 1004• Newport Beach, CA•
92660• [*****] • www.oceanstreetpartners.com

 

    10

     

    

 

 

 

	 	 	(d) 	if prior to the Company’s IPO: a executed business opportunity to the Company exceeds US$500,000
in sales revenue is executed after the date of this Agreement;.
	 	 	(e)	 if after the Company’s IPO: the business opportunity to the Company exceeds US$1,000,000;
	 	 	(f)	 provided that there are no fees owed on that transaction to any third party including Boustead Securities.
	 	 	 	 
	 	 	The BD Fee will be:
	 	 	 
	 	 	(g)	 if prior to the Company’s IPO: three quarters of one percent (0.75%) of the total number of Ordinary
Shares in the Company issued as at the time of execution of this Agreement; or
	 	 	(h) 	if after the Company’s IPO: three quarters of one percent (0.75%) of the total number of Ordinary
Shares in the Company as at the time of execution of this Agreement.
	 	 	 	 
	 	 	Reimbursement
	 	 	 
	 	 	The Company agrees to reimburse reasonable out of pocket expenses incurred by the Consultant that have been approved by the Company prior to being incurred.

 

1048 Irvine Ave •
Suite 1004• Newport Beach, CA• 92660• [*****]• www.oceanstreetpartners.com

 

 

11Exhibit
10.12

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) would be competitively harmful if publicly disclosed

 

Loan
Agreement

 

This
Agreement is made on 20 January 2022.

 

PARTIES

 

		1.	The
                                            Shareholder Listed in the Schedule (Lender); and

 

		2.	GELTEQ
                                            PTY LTD ACN 31 619 501 254 (Gelteq).

 

RECITALS

 

		A.	The
                                            Lender has agreed to provide a loan to Gelteq, of the amount set out in the Schedule to be
                                            used as working capital by Gelteq.

 

		B.	The
                                            Lender and Gelteq have agreed to enter into this Agreement to set out the terms and conditions
                                            of the loan arrangement.

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
                                            and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the contrary intention appears:

 

Bonus
Shares means $1 of free Gelteq Pty Ltd stock given to the Lender for every $4 loaned to the company. The Gelteq stock is valued at
the current USD$30m valuation and this is the valuation that each lender will receive their bonus shares at.

 

Business
day means, in respect of each payment or other transaction or calculation which needs to be made or done under this Agreement or
for the purposes of this Agreement, a day on which business by and between banks may be carried on Victoria, Australia;

 

Interest
rate means a rate of 12% per annum;

 

Loan
means, at any time and from time to time, the amount of the moneys provided to Gelteq by the Lender under this Agreement outstanding
at that time; and

 

Loan
Amount means the amount to be loaned by the Lender to Gelteq under this Agreement and specified in the Schedule.

 

Owed
Money means the total amount of any Loan Amount that has not been repaid and any Interest that has not been paid by Gelteq.

 

     

     

    

 

PPSA
means the Personal Properties Securities Act 2009 (Cth) (as amended) and any other legislation and regulations in respect
of that act.

 

PPSR
means the Personal Property Securities Register established under section 146 of the PPSA.

 

Related
body corporate means any body corporate which is related to Gelteq within the meaning given to the term ‘related’ in
s 9 of the Corporations Law.

 

Security
Interest has the meaning given to it under the PPSA.

 

Secured
Property means all of Gelteq’s present and after-acquired property.

 

		1.2	Interpretation

 

		(a)	Words
                                            importing the singular number include the plural and vice versa. Any gender includes the
                                            other genders. Any reference to a person includes a reference to a corporation, firm, authority,
                                            government or governmental agency.

 

		(b)	A
                                            reference to legislation or to a legislative provision includes all regulations, orders,
                                            proclamations, notices or other requirements under that legislation or legislative provision.
                                            It also includes any amendments, modifications or re-enactments of that legislation or legislative
                                            provision and any legislation or legislative provision substituted for, and any statutory
                                            instrument issued under, that legislation or legislative provision.

 

		(c)	The
                                            clause headings in, and index to, this Agreement are for reference purposes only and do not
                                            in any way influence or affect the meaning of this Agreement.

 

		(d)	A
                                            reference to any party to this Agreement or to any other deed, agreement, licence, document
                                            or other instrument required under this Agreement or for the purposes of this Agreement includes
                                            that party’s executors, administrators, substitutes, successors and permitted assigns.

 

		(e)	Where
                                            under or pursuant to this Agreement or anything done under this Agreement the day on or by
                                            which any act, matter or thing is to be done is not a business day such act, matter or thing
                                            must be done on the next Business Day.

 

		(f)	References
                                            to clauses are references to clauses of this Agreement.

 

		(g)	A
                                            reference to winding up or bankruptcy includes bankruptcy, winding up, liquidation, dissolution,
                                            becoming an insolvent under administration (as defined in s 9 of the Corporations Law) and
                                            to the circumstances and events giving rise to or contributing to such condition or matters.

 

		2.	Loan
                                            Amount, Interest and Bonus Shares

 

		(a)	The
                                            parties acknowledge that within 5 Business Days of the date of this Agreement, the Lender
                                            will transfer the Loan Amount to Gelteq.

 

		(b)	The
                                            parties acknowledge and agree that the Loan may be used by Gelteq in its absolute discretion
                                            towards any working capital requirements of Gelteq.

 

    2

     

    

 

		(c)	The
                                            parties agree that interest is payable by Gelteq on any Owed Money at the Interest rate calculated
                                            daily and to be paid on the Repayment Date.

 

		(d)	All
                                            Bonus Shares will be paid to the Lender or its nominated entity within 90 days from the transfer
                                            of funds.

 

		3.	Repayment

 

		(a)	Gelteq
                                            agrees that it will repay all Owed Money by no later than 15 July 2023 (Repayment Date).

 

		(b)	The
                                            parties agree that Gelteq may, but is not obligated to, repay the Loan Amount early and that
                                            there will be no penalty for early repayment.

 

		4.	Method
                                            of payment

 

		4.1	Time
                                            and place of payment

 

		(a)	All
                                            payments to be made under this Agreement by Gelteq to, or at the direction of, the Lender
                                            must, unless otherwise specified or agreed by that Lender, be made in Australian dollars
                                            in immediately available funds no later than 5pm on the Repayment Date.

 

		(b)	All
                                            payments to be made under this Agreement by Gelteq to the Lender must be paid to that Lender
                                            by such method as specified by that Lender.

 

		5.	No
                                            set-off or counterclaim

 

Notwithstanding
any term, whether express or implied, in this Agreement or any rule of law or course of conduct to the contrary, payments under this
Agreement must be made by Gelteq without set-off or counterclaim and, subject to clause 7.3, free and clear of, and without, any deductions
whatsoever.

 

		5.1	No
                                            withholdings

 

All
payments to be made under this Agreement, whatever their nature, must, to the full extent permitted by law, be made by Gelteq without
any deduction for, or on account of, any income or other taxes, imposts, deductions or other withholdings of any kind (collectively ‘withholdings’).
If Gelteq is compelled by law to deduct any withholdings from any payment, Gelteq must ensure that the deduction made does not exceed
the minimum legal liability in that regard. Gelteq must also pay to the Lender whatever additional amount is necessary (after allowing,
for the avoidance of doubt, for withholdings from that amount) to ensure the Lender receives the full amount of the payment due under
this Agreement as if the withholdings had not been deducted.

 

		6.	Default
                                            and termination

 

		6.1	Events
                                            of default

 

Each
of the following events is an event of default, which provides the Lender an immediate right to terminate this Agreement upon written
notice to Gelteq:

 

		(a)	payment
                                            default: if Gelteq fails to repay the Loan on the Repayment Date and such failure continues
                                            for more than ten (20) Business Days; or

 

    3

     

    

 

		(b)	other
                                            default: if Gelteq fails to perform or observe any of the covenants or provisions of
                                            this Agreement on the part of Gelteq to be performed or observed and (if capable of remedy)
                                            such default continues for more than twenty (20) Business Days (or such longer period as
                                            the Lender in its absolute discretion permits) after notice from the Lender requiring Gelteq
                                            to remedy the default, unless the non-performance or non-observance has been waived or excused
                                            by the Lender in writing; or

 

		(c)	winding
                                            up: if an application for the winding up or bankruptcy of Gelteq or any related body
                                            corporate is presented and Gelteq or related body corporate (as the case requires) cannot
                                            within twenty (20) Business Days reasonably satisfy the Lender that the application is frivolous
                                            or vexatious or an order is made for the winding up or bankruptcy, or any resolution is passed
                                            for the winding up, of Gelteq or any related body corporate, except that it will not be an
                                            event of default where the winding up of Gelteq or the related body corporate (as the case
                                            requires) is for the purpose of reconstruction or amalgamation and has the Lender’s
                                            prior written consent (which consent will not be unreasonably withheld); or

 

		(d)	receiver,
                                            etc: if a receiver or receiver and manager or provisional liquidator of the assets and
                                            undertaking or any part of the assets and undertaking of Gelteq or any related body corporate
                                            or any guarantor is appointed; or

 

		(e)	illegality:
                                            the continued performance of the obligations of Gelteq under this Agreement or if Gelteq
                                            contravenes, or might in the Lender’s opinion contravene, any applicable statute, ordinance,
                                            proclamation, rule, order, regulation, moratorium or decree of any governmental or other
                                            authority; or

 

		(f)	material
                                            adverse change: if there is a material adverse change, in the Lender’ opinion,
                                            in the business or financial condition of Gelteq.

 

		7.	Application
                                            of money

 

All
money received by the Lender from Gelteq will be applied in the following order and manner:

 

		(a)	first,
                                            in payment of all costs, charges and expenses properly incurred in, or incidental to, the
                                            exercise or performance, or attempted exercise or performance, of any of the powers or authorities
                                            conferred on the Lender by this Agreement or the security or otherwise arising in relation
                                            to this Agreement or the security;

 

		(b)	secondly,
                                            in or towards payment of such other properly incurred costs, charges and expenses in relation
                                            to the enforcement of this Agreement as the Lender thinks fit to pay;

 

		(c)	thirdly,
                                            in or towards repayment to the Lender of the Loan; and

 

		(d)	fourthly,
                                            in or towards payment to, or at the direction of, the Lender of any other amount or amounts
                                            payable by Gelteq under this Agreement, in proportion to the amounts actually provided to
                                            Gelteq by the Lender.

 

The
surplus, if any, will not carry interest and will be paid to Gelteq.

 

    4

     

    

 

		8.	Protection
                                            of the Lender

 

		8.1	Discretion
                                            on consent

 

In
any case where, under or pursuant to this Agreement, the doing or execution of any act, matter or thing by Gelteq is dependent upon the
consent or approval of the Lender, such consent or approval may be given conditionally or unconditionally or may be withheld by the Lender
in its absolute uncontrolled discretion, unless this Agreement expressly provides otherwise.

 

		8.2	Borrower’s
                                            risk

 

Whenever
Gelteq is obliged or required under this Agreement to do or effect any act, matter or thing, then the doing of such act, matter or thing
will, unless this Agreement expressly provides otherwise, be at the sole risk and expense of Gelteq.

 

		9.	Security
                                            Interest

 

		9.1	Gelteq
                                            grants a Security Interest in the Secured Property to the Lender to secure payment of the
                                            Loan.

 

		9.2	The
                                            Lender may, at the Lender’s expense, register any Security Interest granted under this
                                            Agreement on the PPSR. Gelteq must provide the Lender with any reasonable information it
                                            requires for the purposes of effecting such registration. 

 

		9.3	Gelteq
                                            agrees to take such steps as the Lender reasonably requires to perfect and ensure the enforceability
                                            and first ranking priority of any Security Interest granted to it under this Agreement, including
                                            by obtaining consents, signing and producing documents, enabling registration of the Security
                                            Interests, at the Lender’s cost.

 

		10.	General

 

		10.1	Non-merger

 

None
of the terms or conditions of this Agreement, nor any act, matter or thing done under or by virtue of, or in connection with, this Agreement
will operate as a merger of any of the rights and remedies of the Lender in or under this Agreement or otherwise. All such rights and
remedies of the Lender will continue in full force and effect.

 

		10.2	Statutes
                                            not to abrogate agreement

 

Unless
application is mandatory by law, no statute, ordinance, proclamation, rule, order, regulation, moratorium or decree of any governmental
or other authority, present or future, will apply to this Agreement so as to abrogate, extinguish, impair, diminish, fetter, delay or
otherwise prejudicially affect any rights, powers, remedies or discretions given or accruing to the Lender under this Agreement.

 

		10.3	Reimbursement
                                            of Lender

 

To
the extent permissible at law, Gelteq must, forthwith upon demand, pay to the Lender an amount equivalent to any moneys paid by the Lender
in respect of any liability imposed on Gelteq under or by virtue of this Agreement, notwithstanding that any statute, ordinance, proclamation,
rule, order, regulation, moratorium or decree of any governmental or other authority, present or future, directly or indirectly, imposes
such liability upon the Lender.

 

    5

     

    

 

		10.4	Assignments

 

This
Agreement is binding on, and operates for the benefit of, both Gelteq and the Lender and their respective successors and assigns, except
that Gelteq must not assign this Agreement or any of its rights or obligations under this Agreement without the Lenders’ joint
prior written consent. A Lender may at any time assign, charge or otherwise deal with its rights under this Agreement.

 

		10.5	Severability
                                            and survival of covenants

 

If
any provision of this Agreement is, or at any time becomes, prohibited by, or unlawful under, any applicable law, regulation or other
condition actually applied or otherwise becomes void or unenforceable, it will be severed from this Agreement and rendered ineffective
so far as is possible without modifying the remaining provisions of this Agreement. The remaining provisions will, to the extent permitted
by the relevant law, regulation or other condition, continue in full force and effect.

 

		10.6	Prohibition
                                            on oral amendments

 

Neither
this Agreement nor any provision of this Agreement may be amended, modified, waived, discharged or terminated orally.

 

		10.7	No
                                            waiver

 

Time
is of the essence of this Agreement. However, no failure or delay by the Lender to exercise any power, right or remedy under this Agreement
will operate as a waiver of that power, right or remedy. Nor will any single or partial exercise of any power, right or remedy under
this Agreement preclude any other or further exercise of that power, right or remedy. A Lender will only be taken to have waived any
power, right or remedy under this Agreement, including (without limitation) its rights in respect of any event of default, to the extent
that the power, right or remedy has been expressly waived in writing.

 

		10.8	Counterparts

 

This
Agreement may be executed in any number of counterparts all of which, when taken together, will constitute one and the same instrument.

 

		10.9	Notices

 

Any
notice or demand to be given under, or in relation to, this Agreement will be deemed to be duly given or made if it is in writing and,
in the case of Gelteq, left at, or sent by prepaid post to, Gelteq at her place of abode known to the party sending such notice or demand
and, in the case of the Lender, if it is in writing and left at, or sent by prepaid post to, the Lender at her address set out in this
Agreement. Any notice or demand sent by post will be deemed to have been received by the party to whom it is addressed on the day which
in the normal course of post it would have been delivered.

 

		10.10	Governing
                                            law and submission to jurisdiction

 

This
Agreement will be construed in accordance with the law of the state of Victoria. The parties agree to submit to the non-exclusive jurisdiction
of the courts of Victoria and any courts which may hear appeals therefrom.

 

    6

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender (Shareholder)	ACK Pty Ltd
    ATF Markoff Super Fund No.2
	Loan Amount ($AUD)	[*****]

 

    7

     

    

 

Executed
as an agreement

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
    Givoni	 	/S/ Simon Szewach
	Director Signature	 	Director/Secretary Signature
	 	 	 
	Simon Szewach	 	Nathan Givoni
	Print Name	 	Print Name
	 	 	 
	01/26/22	 	 
	Date Signed	 	 

 

	Executed by
    ACK Pty Ltd ATF Markoff Super Fund No.2 in accordance with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/S/ J. Markoff	 	[*****]
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	J. Markoff	 	[*****]
	Print Name	 	Print Name
	 	 	 
	01/26/22	 	01/26/22
	Date Signed	 	Date Signed

 

    8

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender (Shareholder)	Andrew Vukosav
    Super AC
	Loan Amount ($AUD)	[*****]

 

    9

     

    

 

Executed
as an agreement

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
    Givoni	 	/S/ Simon
    Szewach
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	Nathan Givoni	 	Simon Szewach
	Print Name	 	Print Name
	 	 	 
	01/21/22	 	 
	Date Signed	 	 

 

	Executed by
    Andrew Vukosav Super AC in accordance with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/S/ Authorized Signatory	 	 
	Director/Secretary Signature	 	 
	 	 	 
	Authorized Signatory	 	 
	Print Name	 	 
	 	 	 
	01/20/22	 	 
	Date Signed	 	 

 

    10

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender
    (Shareholder)	B&M
    Givoni Pty Ltd ATF B & M Givoni

    Superannuation
    Fund

	Loan
    Amount ($AUD)	350,000.00

 

    11

     

    

 

Executed
as an agreement

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
    Givoni	 	/S/ Simon
    Szewach
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	Nathan Givoni	 	Simon Szewach
	Print Name	 	Print Name
	 	 	 
	01/25/22	 	 
	Date Signed	 	 

 

	Executed by
    B&M Givoni Pty Ltd ATF B & M Givoni Superannuation Fund in accordance with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/S/ Brandon
    Givoni	 	/S/ Michelle
    Givoni
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	Brandon Givoni	 	Michelle Givoni
	Print Name	 	Print Name
	 	 	 
	01/25/22	 	 
	Date Signed	 	 

 

    12

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender (Shareholder)	3 Frogs In
    A Pond Pty Ltd ATF GPG Superannuation Fund
	Loan Amount ($AUD)	[*****]

 

    13

     

    

 

Executed
as an agreement

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
    Givoni	 	/S/ Simon
    Szewach
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	Nathan Givoni	 	Simon Szewach
	Print Name	 	Print Name
	 	 	 
	01/24/22	 	 
	Date Signed	 	 

 

	Executed by
    3 Frogs In A Pond Pty Ltd ATF GPG Superannuation Fund with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/S/ Authorized Signatory	 	 
	Director/Secretary Signature	 	 
	 	 	 
	Authorized Signatory	 	 
	Print Name	 	 
	 	 	 
	01/24/22	 	 
	Date Signed	 	 

 

    14

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender (Shareholder)	Jeffrey
    Olyniec
	Loan Amount ($AUD)	Insert Loan Amount USD
    102,664/ AUD 143,445

 

    15

     

    

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Jeffrey
    Olyniec	 	/S/ Nathan
    Givoni
	Director Signature	 	Director/Secretary Signature
	 	 	 
	Jeffrey Olyniec	 	Nathan Givoni
	Print Name	 	Print Name
	 	 	 
	12/31/2021	 	 
	Date Signed	 	 

 

	Executed by
    Jeffrey Olyniec in accordance with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/S/ Jeffrey
    Olyniec	 	 
	Director/Secretary Signature	 	 
	 	 	 
	Jeffrey Olyniec	 	 
	Print Name	 	 
	 	 	 
	12/31/2021	 	 
	Date Signed	 	 

 

    16

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender (Shareholder)	Juergen Rochert
	Loan Amount ($AUD)	[*****]

 

    17

     

    

 

Executed
as an agreement

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
    Givoni	 	/S/ Simon
    Szewach
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	Nathan Givoni	 	Simon Szewach
	Print Name	 	Print Name
	 	 	 
	1/21/22	 	 
	Date Signed	 	 

 

	Executed by
    Juergen Rochert accordance with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/s/ Juergen
    Rochert	 	 
	Sole Director/Secretary Signature	 	 
	 	 	 
	Juergen Rochert	 	 
	Print Name	 	 
	 	 	 
	01.20.2022	 	 
	Date Signed	 	 

 

    18

     

    

 

SCHEDULE
TO LOAN AGREEMENT

 

	Lender (Shareholder)	KDC Investments
    Pty Ltd ATF Lieb Family Superannuation Fund
	Loan Amount ($AUD)	[*****]

 

    19

     

    

 

Executed
as an agreement

 

	Executed
    in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
    Givoni	 	/S/ Simon
    Szewach
	Director/Secretary Signature	 	Director/Secretary Signature
	 	 	 
	Nathan Givoni	 	Simon Szewach
	Print Name	 	Print Name
	 	 	 
	1/21/22	 	 
	Date Signed	 	 

 

	Executed by
    KDC Investments Pty Ltd ATF Lieb Family Superannuation Fund with s127 of the Corporations Act 2001 (Cth):	 	 
	 	 	 
	/S/ Authorized Signatory	 	 
	Director/Secretary Signature	 	 
	 	 	 
	Authorized Signatory	 	 
	Print Name	 	 
	 	 	 
	1/19/2022	 	 
	Date Signed	 	 

 

    20

     

    

 

Bank
Account Payment Details

 

Account
Name: [*****]

BSB: [*****]

Account
Number: [*****]

Bank Name:
[*****]

Currency:
AUD

 

 

21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]