Document:

Corporate
Advisory Consulting Agreement

 

This
Corporate Advisory Consulting Agreement (this “Agreement”), is made as of August 30, 2017, between Save Foods, Inc.,
a Delaware corporation, having its principal place of business located at C.O: Earthbound LLC, 156 Fifth Avenue, Floor 10, New
York, NY 10010-7751156 USA (the “Company”) and Goldmed Ltd. an cornpany organized under the laws of the state of Israel,
under the control of Prof. Benad Goldwassr (the “Consultant”), the Company and the Consultant are sometimes referred
to individually, as a “Party” and collectively, as the “Parties.”

 

RECITALS:

 

A.
The Consultant has the professional expertise and is experienced in managing companies and has agreed to the Company’s request
to serve as the Company active chairman (“the Services”).

 

B.
The Consultant will be providing services, within his field of expertise, to the Company commencing on May 1, 2018.

 

C.
The Company desires to engage the Consultant as an independent contractor for the Services, set forth in Section 1 below; and

 

D.
The Parties agree that this Agreement reflects
the entire understanding and agreement between the Parties on the subject matter herein contained.

 

NOW,
THEREFORE, in consideration of the premises
and promises, warranties and representations Herein contained, it is agreed as follows:

 

1.
Services: The Consultant will provide the Company the Service solely by Prof.
Benad Goldwasser, who will serve as the active Chairman of the Company.

 

2.
Compensation:

 

(i)
In consideration for this Services, the Company shall pay the Consultant US$5,000 per month. Until the Company will raise at
least SIMM the Consultant will be paid in cash only $3,000 monthly, and the balance of $2,000 will be accrued as debt of the
company to the Consultant, which will be paid out to the $1MM funding.

 

(ii)
After the Company will raise additional $1MM (altogether $2MM) the Consultant compensation will be increased to $ 10,000 per month.

 

(iii)
In addition, for its services as director in the Pimi Agro Cleantech LTD., a subsidiary of the Company, the Company will issue
to Prof. Goldwasser under its ESOP 1,500,000 warrants to purchase shares of Common Stock of the Company at an exercise price of
2 cents (“The Warrants”). The Warrants will be vested on a period
of 36 months every 3 months. If the company will terminate the agreement with the Consultant, prior to the end of the vesting
period, for no cause, Prof. Goldwasser will be entitled to acceleration of all the Warrants which have not been vested.

 

    	 

    	 

    

 

3.
Term: This Agreement shall survive for at least 12 months and could be terminated
thereafter (after 31.5.2018) by each party be giving upon 90 days advanced notice.

 

4.
Independent Contractor: The Consultant understands and acknowledges that since
the Consultant is an independent contractor of but is not an employee of the Company. As a result, the Company will not withhold
income taxes or pay any employee taxes on its behalf, nor will the Consultant receive any benefits of an employee. The Consultant
does hereby indemnify and hold harmless the Company from and against any and all claims, liabilities, demands, losses or expenses
incurred by the Company if the Consultant fails to pay any applicable income and/or employment taxes (including interest or penalties
of whatever nature), in any amount, relating to the Consultant’s past Services to the Company, including any attorney’s
fees or costs to the prevailing party to enforce this indemnity;

 

5.
Representations and Warranties: For the purposes of this Agreement, the Consultant
represents and warrants as follows:

 

(i)
The Consultant is duly organized and validly existing under the laws of it state of organization and has full power and authority
to enter into this Agreement;

 

(ii)
All information that the Consultant has provided to the Company concerning the Consultant and the Consultant’s knowledge
of matters, or, is correct and complete as of the date of this Agreement and may be relied upon by the Company;

 

(iii)
In rendering the Services hereunder, the Consultant agrees to comply with all applicable federal and state securities laws, the
rules and regulations thereunder, the rules and regulations of the SEC and of any exchange or quotation service on which the Company’s
securities are listed and/or subject to quotation and the rules and regulations of the National Association of Securities Dealers,
Inc.

 

6.
No Third-Party Rights: The Parties warrant and represent that they are authorized
to enter this Agreement and that no third parties, other than the Parties hereto, have any interest in any of the Services contemplated
hereby.

 

7.
Governing Law/Arbitration: This Agreement shall be governed by and construed
in accordance with the laws of the State of New York. Any dispute arising under or related to this Agreement or the construction
or application of this Agreement, any claim arising out of this Agreement or its breach, shall be submitted to arbitration in
New York County, State of New York, before one arbitrator in accordance with the Commercial Arbitration Rules of the American
Arbitration Association, upon the written request of one Party after service of that request on the other Party. The cost of arbitration
shall be borne by the losing Party. The arbitrator is also authorized to award reasonable attorney’s fees to the prevailing
Party.

 

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8.
Validity: If any paragraph, sentence, term or provision hereof shall be held
to be invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect Arbitration Association, upon
the written request of one Party after service of that request on the other Party. The cost of arbitration shall be borne by the
losing Party. The arbitrator is also authorized to award reasonable attorney’s fees to the prevailing Party.

 

8.
Validity: If any paragraph, sentence, term or provision hereof shall be held
to be invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect the validity enforceability
of any other paragraph, sentence, term and provision hereof. To the extent required, any paragraph, sentence, term or provision
of this Agreement may be modified by the parties hereto by written amendment to preserve its validity.

 

9.
Entire Agreement: This Agreement contains the entire understanding of the Parties
on the subject matter hereof and cannot be altered or amended except by an amendment duly executed by all Parties hereto. This
Agreement shall be binding upon and inure to the benefit of the successors, assigns and personal representatives of the Parties.

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement effective as of the date first written above.

 

	Save Foods, Inc.	 	Consultant
	 	 	 	 	 	 
	/s/ Nimrod Ben Yehuda	 	/s/ Benad Goldwasser
	Name:	Nimrod Ben Yehuda	 	Name:	Benad
    Goldwasser
	Title:	CEO	 	 	 

 

    	3SUBORDINATION AGREEMENT

 

EXHIBIT 10.2

SUBORDINATION AGREEMENT

(Affiliated Creditor)

 

This SUBORDINATION AGREEMENT, dated as of October 23, 2019 (this “Agreement”), is by and between Joseph V. Vittoria, an individual (the “Subordinated Lender”), and Puradyn Filter Technologies Incorporated, a Delaware corporation (the “Subordinated Borrower”).  The Subordinated Lender and the Subordinated Borrower are sometimes collectively referred to as the “Parties.”

 

WHEREAS, on March 25, 2019 the Subordinated Borrower issued the Subordinated Lender that certain Senior Secured Promissory Note in the principal amount of $9,129,430.15 (the “Secured Note”) which is secured in accordance with the terms of a Security Agreement of even date therewith by and between the Parties (the “Security Agreement”).

WHEREAS, the Subordinated Borrower is desirous of borrowing $43,100 from Kabbage® (“Kabbage”) under the terms of a Business Loan Agreement (the “Kabbage Loan”), the terms of which will require the Subordinated Borrower to grant Kabbage a security interest in its assets.

WHEREAS, the Subordinated Borrower has requested that the Subordinated Lender subordinate his security interest pursuant to the terms of the Secured Note and the Security Agreement to Kabbage so as to permit the Subordinated Borrower to obtain the Kabbage Loan, and the Subordinated Lender has agreed to such request.

Accordingly, the Subordinated Lender and the Subordinated Borrower, hereby agree as follows:

 

SECTION 1.

SUBORDINATION.

 

(a)

The Subordinated Lender hereby agrees that all Subordinated Obligations (as defined below) and all of his right, title and interest in and to the Subordinated Obligations shall be subordinate and junior in right of payment to the Kabbage Loan and all rights of Kabbage in respect of the Kabbage Loan, including, in each case, the payment of principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Kabbage Loan whether or not a claim for post-filing interest is allowed or allowable in any such proceeding), fees, charges, expenses, indemnities, reimbursement obligations and all other amounts payable thereunder or in respect thereof and all refinancings, replacements, substitutions and renewals of all of the foregoing (all of the above, collectively, the “Senior Obligations”). For purposes hereof, “Subordinated Obligations” means all obligations of the Subordinated Borrower to the Subordinated Lender in respect of the Secured Note and the Security Agreement.

 

(b)

Upon any distribution of the assets of the Subordinated Borrower or upon any dissolution, winding up, liquidation or reorganization of the Subordinated Borrower, whether in bankruptcy, insolvency, reorganization, arrangement or receivership proceedings or otherwise, or upon any assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Subordinated Borrower, or otherwise:

(i)

Kabbage shall first be entitled to receive indefeasible payment in full of all Senior Obligations (whenever arising) and only after the Senior Obligations have been paid in full shall the Subordinated Lender be entitled to receive any payment on account of the Subordinated Obligations of the Subordinated Borrower, whether of principal, interest or otherwise; and

(ii)

any payment by, or on behalf of, or distribution of the assets of, the Subordinated Borrower of any kind or character, whether in cash, securities or other property, to which the Subordinated Lender would be entitled except for the provisions of this Section 1 shall be paid or delivered by the person making such payment or distribution (whether a trustee in bankruptcy, a receiver, custodian or liquidating trustee or otherwise) directly to Kabbage or its assigns, until all of the Senior Obligations have been paid in full.

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(c)

The Parties acknowledge that this Agreement is a “subordination agreement” under section 510(a) of Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute (the “Bankruptcy Code”), which will be effective before, during and after the commencement of an Insolvency or Liquidation Proceeding. All references in this Agreement to the Subordinated Borrower will include the Subordinated Borrower as a debtor-in-possession and any receiver or trustee for the Subordinated Borrower in an Insolvency or Liquidation Proceeding. For purposes of this Section 1(c), “Insolvency or Liquidation Proceeding” shall mean:

(A)

any voluntary or involuntary case or proceeding under the Bankruptcy Code with respect to the Subordinated Borrower;

(B)

any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to the Subordinated Borrower or with respect to a material portion of its assets;

 

(C)

any liquidation, dissolution, reorganization or winding up of the Subordinated Borrower whether voluntary or involuntary and whether or not involving insolvency or bankruptcy; or

 

(D)

any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Subordinated Borrower.

SECTION 2.

SENIOR OBLIGATIONS UNCONDITIONAL. All rights and interests of the Subordinated Lender, and all agreements and obligations of the Subordinated Borrower hereunder, shall remain in full force and effect irrespective of:

(a)

any lack of validity or enforceability of the Security Agreement or the Secured Note;

 

(b)

any change in the time, manner or place of payment of, or in any other term of, all or any of the Senior Obligations, or any amendment or waiver or other modification, whether by course of conduct or otherwise, of, or consent to departure from, the Kabbage Note;

 

(c)

any exchange, release or nonperfection of any lien in any collateral;

 

(d)

any refinancing, replacement or substitution of the Senior Obligations or any portion thereof regardless of whether the terms and conditions thereof are less beneficial to the Subordinated Borrower; or

 

(e)

any other circumstances that might otherwise constitute a defense available to, or a discharge of, the Subordinated Borrower in respect of the Senior Obligations, or of the Subordinated Lender or the Subordinated Borrower in respect of this Agreement.

SECTION 3.

NOTICES. All notices, requests and demands to or upon any party hereto shall be in writing and shall be given in the manner provided in the Secured Note and Security Agreement.

 

SECTION 4.

COUNTERPARTS. This Agreement may be executed by one or more of the parties on any number of separate counterparts, each of which shall be deemed an original, but all of which taken together shall be deemed to constitute but one instrument. Delivery of an executed signature page to this Agreement by facsimile transmission or electronic PDF delivery shall be as effective as delivery of a manually signed counterpart of this Agreement.

 

SECTION 5.

SEVERABILITY. In case any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision hereof in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The Parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

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SECTION 6.

SUCCESSORS AND ASSIGNS.  This Agreement shall be binding upon the successors and assigns of each of the Subordinated Borrower and the Subordinated Lender and shall inure to the benefit of the Secured Parties and their respective successors and assigns.

SECTION 7.

GOVERNING LAW; JURISDICTION. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF FLORIDA.  THE PARTIES HERETO AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT SHALL BE TRIED AND LITIGATED ONLY IN THE COUNTY OF PALM BEACH, STATE OF FLORIDA AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, FEDERAL COURTS LOCATED IN THE COUNTY OF PALM BEACH, STATE OF FLORIDA.

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

 

			
	 

	PURADYN FILTER TECHNOLOGIES INCORPORATED

	 

	 
	 

	 

	By

	/s/ Edward S. Vittoria

	 

	Name:

	Edward S. Vittoria

	 

	Title:

	Chief Executive Officer

	 

	 
	 

	 

	/s/ Joseph V, Vittoria

	 
	Joseph V. Vittoria

	 
	 

 

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