Document:

Exhibit

Exhibit 10.2

SUCCESSION AND CONSULTING AGREEMENT 
WITH
ALIMERA SCIENCES, INC.

This Succession and Consulting Agreement (this “Agreement”) is entered into by and between Alimera Sciences, Inc., a Delaware corporation (the “Company”), and Kenneth Green, Ph.D. (“Green”), as of November 28, 2018 (the “Effective Date”).

RECITALS:

WHEREAS, the Company is engaged in the business of developing, marketing and selling ophthalmic pharmaceuticals in the United States and throughout the world;

WHEREAS, the Company and Green previously entered into that certain Amended and Restated Employment Agreement, dated as of October 23, 2014 (the “Prior Employment Agreement”);

WHEREAS, the Company and Green desire that Green continue to serve as Senior Vice President, Chief Scientific Officer and Global Head of Research and Development, an employee of the Company, through March 31, 2019 pursuant to the Prior Employment Agreement; and

WHEREAS, the Company and Green desire that, beginning on April 1, 2019, Green shall terminate employment as an employee of the Company and shall thereafter provide consulting services to the Company as an independent contractor and not an employee; 

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, the parties, intending to be legally bound, agree as follows:

AGREEMENT:

SECTION 1. EFFECTIVE DATE; TRANSITION

This Agreement is effective as of the Effective Date. The terms and conditions stated in the Prior Employment Agreement shall remain in effect through March 31, 2019. Effective April 1, 2019, (the “Transition Date”), Green shall (a) relinquish the titles and positions of Senior Vice President, Chief Scientific Officer and Global Head of Research and Development of the Company and no longer be an employee of the Company; and (b) become a consultant to the Company as an independent contractor, in accordance with and pursuant to the terms of this Agreement. 

SECTION 2. DEFINITIONS

“Board” means the Board of Directors of the Company.

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“Cause” means:  (i) Green’s gross negligence or willful misconduct with respect to his consulting services to the Company, including violation of any material policy of the Company that is not cured within 30 days after written notice thereof is given to Green by the Company; (ii) Green’s conviction of, or entering a guilty plea or plea of no contest with respect to, a felony; or (iii) Green’s engagement in any material breach of the terms of this Agreement or fails to fulfill his responsibilities under this Agreement and such breach or failure, as the case may be, is not cured, or is not capable of being cured, within 30 days after written notice thereof is given to Green by the Company.

“Code” shall mean the Internal Revenue Code of 1986, as amended.

“Competing Business” means any business which develops, sells, or markets ophthalmic pharmaceuticals that (a) use steroids to treat diseases of the posterior segment of the eye or (b) treat diseases of the retina.

“Disability” means a condition which renders Green unable (as determined by the Board in good faith after consultation with a physician mutually selected by Green and the Board) to regularly perform his duties hereunder by reason of illness or injury for a period of more than six consecutive months with or without reasonable accommodation.

“Equity” means (i) all shares of capital stock of the Company; (ii) all options and other rights to purchase shares of capital stock of the Company; and (iii) all restricted stock units.

“Good Reason” shall mean any breach by the Company of this Agreement that is material and that is not cured within 30 days after written notice thereof to the Company from Green.

“Restricted Period” means the 12-month period beginning on the date that Green’s service as a consultant to the Company is terminated pursuant to the terms of this Agreement and a Separation occurs.

“Section 409A” means Code Section 409A, as amended, and the standards, regulations, or other guidance promulgated thereunder.

“Separation” means a “separation from service,” as defined in the regulations under Section 409A of the Code.

SECTION 3. TITLE, POWERS AND RESPONSIBILITIES

(a)Titles. Green shall continue to serve as the Senior Vice President, Chief Scientific Officer and Global Head of Research and Development of the Company until the Transition Date, when he shall (i) relinquish such titles and positions, (ii) terminate employment as an employee of the Company, and (iii) become a consultant to the Company, all in accordance with and pursuant to the terms of this Agreement.

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(b)Powers and Responsibilities as a Consultant. In Green’s role as a consultant to the Company, he shall have such powers and duties as are provided in this Agreement and as are reasonably requested by the Board or the Company’s Chief Executive Officer (the “CEO”) on and after the Transition Date, all in accordance with and pursuant to the terms of this Agreement. Green shall provide services as an independent contractor and not as an employee, agent, or representative of the Company.

(c)Reporting Relationship as a Consultant. In his role as a consultant, Green shall report to the CEO.

(d)Term of Service as a Consultant. Subject to the terms and conditions of this Agreement and provided that Green remain an employee of the Company through the Transition Date pursuant to the Prior Employment Agreement, Green shall serve as a consultant to the Company from the Transition Date through March 31, 2020, provided that either party may terminate this Agreement without Cause by giving notice of such termination (subject to Section 5). Notwithstanding the foregoing, (x) if the Company terminates Green’s service as a consultant for Cause, the term of Green’s service as a consultant shall end on the date specified by the Company that is consistent with the definition of Cause in this Agreement; or (y) if Green resigns without Good Reason at any time, the term of Green’s service as a consultant shall end ten (10) days after Green gives notice of such termination (but in no event later than March 31, 2020). This Agreement shall also terminate in the event of Disability or death as provided in Sections 5(d) and 5(e), respectively. The period during which Green is providing services to the Company as a consultant under this Agreement is referred to as the “Consulting Term.”  

(e)Time Commitment as a Consultant. During the Consulting Term, Green shall provide consulting services to the Company for thirty-six (36) business days during the one-year period beginning on the Transition Date and continuing through March 31, 2020, as reasonably requested by the CEO or the Board. Such services shall include advising the Company on scientific and medical matters related to the Company’s products as well as new products or opportunities that the Company may be considering or actively developing. The Company and Green anticipate that the time that Green devotes to performing consulting services for the Company will be no more than 20% of the average level of services that Green performed for the Company over the thirty-six (36) months immediately preceding the Transition Date.

SECTION 4. COMPENSATION, BENEFITS, ETC.

(a)Compensation as Consultant. Effective on the Transition Date, Green’s compensation as a consultant (“Consulting Compensation”) shall be $406,000 for the 12-month period beginning on the Transition Date and ending on March 31, 2020, which amount may be reviewed and increased at the discretion of the Board or any committee of the Board duly authorized to take such action. The Consulting Compensation shall be payable in equal monthly installments on the 15th day of each month during the Consulting Term (with the final payment to be made on March 13, 2020 because March 15, 2020 is a Sunday). During the Consulting Term, Green agrees to pay all taxes due on amounts paid to him for services as a consultant and is solely responsible for timely remittance to appropriate authorities of all federal, state, and local taxes and changes incident to the payment of compensation for such consulting services. Without 

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limitation, the parties hereto agree that the Company shall not be responsible for, nor withhold, any taxes, assessments, or other fees incurred by or on behalf of Green with respect to his consulting services, including federal, state, and local withholding taxes.

(b)Employee Benefit Plans; COBRA. 

(1)Until the Transition Date, Green shall continue his participation in the employee benefit plans, programs, and policies maintained by the Company in accordance with the terms and conditions to participate in such plans, programs, and policies as in effect from time to time.  

(2)Upon and after the Transition Date, Green shall no longer be eligible to participate in the employee benefit plans, programs, and policies maintained by the Company, other than through continuation coverage opportunities afforded under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”).

(3)During the Consulting Term, if Green timely elects to continue coverage under the Company’s group health plan pursuant to COBRA, then, on behalf of Green, the Company shall pay (on a monthly basis) the medical COBRA premiums of Green in the same percentage as the Company pays the premiums for active employees under the Company group health insurance plan; provided, however, that this obligation of the Company shall cease on the earlier of (A) the date when Green is no longer eligible for COBRA upon his being eligible for Medicare, (B) the date that Green is eligible to be covered under another substantially equivalent group health insurance plan provided by a subsequent employer, or (C) the date that Green is otherwise no longer eligible for COBRA coverage under the Company’s group health insurance plan.

(c)Equity. During the Consulting Term, Green shall forego his eligibility for all regular Equity awards generally awarded to executive management of the Company; provided, however, that all of Green’s outstanding Equity as of the Transition Date shall continue to vest and remain outstanding as long as Green is providing services to the Company as a consultant. 

(d)Expense Reimbursements. Green shall have the right to expense reimbursements in connection with his service as a consultant in accordance with the Company’s standard policy on expense reimbursements. Any reimbursement shall (i) not be affected by any other expenses that are eligible for reimbursement in any calendar year and (ii) not be subject to liquidation or exchange for another benefit.

(e)Indemnification. The Company shall, to the maximum extent permitted by applicable law and the Company’s governing documents, indemnify Green and hold Green harmless from and against any claim, loss, or cause of action arising from or out of Green’s performance as a consultant for the Company. If any claim is asserted hereunder against Green (other than by the Company), the Company shall pay Green’s legal expenses (or cause such expenses to be paid) on a quarterly basis, provided that Green shall reimburse the Company, in a timely manner, for such amounts if Green shall be found by a final, non-appealable order of a court of competent jurisdiction not to be entitled to indemnification. The indemnification 

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obligations of the Company in this paragraph shall survive any termination of this Agreement and shall be supplemental to any other rights to indemnification from the Company to which Green is entitled.

SECTION 5. TERMINATION OF SERVICE AS A CONSULTANT

(a)General. If Green is subject to a termination of service as a consultant without Cause or Green resigns as a consultant for Good Reason and a Separation occurs, then Green will be entitled to the benefits described in this Section 5. However, Green will not be entitled to any of the benefits described in this Section 5 unless Green has (i) returned all Company Property (as defined below) in Green’s possession, and (ii) executed a general release of all claims that Green may have against the Company or persons affiliated with the Company in a form prescribed by the Company (the “Release”). Green must execute and return the Release on or before the date specified by the Company in the Release (the “Release Deadline”). The Release Deadline will in no event be later than fifty (50) days after Green’s Separation. If Green fails to return the Release on or before the Release Deadline, or if Green revokes the Release, then Green will not be entitled to the benefits described in this Section 5.

(b)Termination of Consulting Services by the Company without Cause or by Green for Good Reason. If the Company terminates Green’s service as a consultant without Cause or Green resigns for Good Reason and a Separation occurs, the Company shall pay Green his earned but unpaid Consulting Compensation plus the remainder of the Consulting Compensation scheduled to be paid through March 13, 2020. Such payments shall be made in substantially equal monthly installments at the same time and in the same manner as Green would have received Consulting Compensation if he had continued service as a consultant. Notwithstanding the foregoing, the payments shall be made at times and in a manner that complies with Section 409A of the Internal Revenue Code, to the extent applicable. In addition, the Company shall make any COBRA payments for Green to the end of the period specified in Section 4(b)(3). 

(c)Termination by the Company for Cause or by Green without Good Reason. If the Company terminates Green’s service for Cause or Green resigns without Good Reason, the Company’s only obligation to Green to pay Consulting Compensation under this Agreement shall be to pay Green his earned but unpaid Consulting Compensation, if any, up to the date Green’s service terminates.

(d)Termination for Disability. The Company shall have the right to terminate Green’s service as a consultant on or after the date Green has a Disability, and such a termination shall be treated as a termination without Cause under this Agreement. 

(e)Death. A termination of Green’s service as a consultant as a result of his death shall be treated as a termination without Cause under this Agreement.

SECTION 6. COVENANTS BY CONSULTANT

(a)Company Property. Upon the termination of Green’s service for any reason or, if earlier, upon the Company’s request, Green shall promptly return all Company Property which 

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had been entrusted or made available to Green by the Company, where the term “Company Property” means all records, files, memoranda, reports, price lists, customer lists, drawings, plans, sketches, keys, codes, computer hardware and software and other property of any kind or description prepared, used or possessed by Green during Green’s service by the Company (and any duplicates of any such Company Property) together with any and all information, ideas, concepts, discoveries, and inventions and the like conceived, made, developed or acquired at any time by Green individually or, with others during Green’s service which relate to the Company or its products or services.

(b)Trade Secrets. Green agrees that Green shall hold in a fiduciary capacity for the benefit of the Company and its affiliates and shall not directly or indirectly use or disclose any Trade Secret that Green may have acquired (whether or not developed or compiled by Green and whether or not Green is authorized to have access to such information) during the term of Green’s service by the Company or any of its predecessors for so long as such information remains a Trade Secret, where the term “Trade Secret” means information, including technical or non-technical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing or a process that (1) derives economic value, actual or potential, from not being generally known to, and not being generally readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use and (2) is the subject of reasonable efforts by the Company and any of its affiliates to maintain its secrecy. This Section 6(b) is intended to provide rights to the Company and its affiliates which are in addition to, not in lieu of, those rights the Company and its affiliates have under the common law or applicable statutes for the protection of trade secrets.

(c)Confidential Information. Green, while providing services to the Company or its affiliates and for the three-year period thereafter, shall hold in a fiduciary capacity for the benefit of the Company and its affiliates, and shall not directly or indirectly use or disclose, any Confidential Information that Green may have acquired (whether or not developed or compiled by Green and whether or not Green is authorized to have access to such information) during the term of, and in the course of, or as a result of Green’s service by the Company or its predecessors without the prior written consent of the Company unless and except to the extent that such disclosure is (i) made in the ordinary course of Green’s performance of his duties under this Agreement or (ii) required by any subpoena or other legal process (in which event Green will give the Company prompt notice of such subpoena or other legal process in order to permit the Company to seek appropriate protective orders). For the purposes of this Agreement, the term “Confidential Information” means any secret, confidential, or proprietary information possessed by the Company or any of its affiliates, including trade secrets, customer or supplier lists, details of client or consultant contracts, current and anticipated customer requirements, pricing policies, price lists, market studies, business plans, operational methods, marketing plans, or strategies, product development techniques or flaws, computer software programs (including object code and source code), data and documentation data, base technologies, systems, structures and architectures, inventions and ideas, past, current and planned research and development, compilations, devices, methods, techniques, processes, financial information and data, business acquisition plans and new personnel acquisition plans (not otherwise included as a Trade Secret under this Agreement) that has not become generally available to the public, and the term “Confidential Information” may include future business plans, licensing strategies, advertising 

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campaigns, information regarding customers or suppliers, executives, and independent contractors and the terms and conditions of this Agreement. Notwithstanding the provisions of this Section 6(c) to the contrary, Green shall be permitted to furnish this Agreement to a subsequent employer or prospective employer.

(d)Non-solicitation of Customers or Employees.

(1)Green (i) while providing services to the Company or any of its affiliates shall not, on Green’s own behalf or on behalf of any person, firm, partnership, association, corporation, or business organization, entity, or enterprise (other than the Company or one of its affiliates), solicit business for a Competing Business from customers of the Company or any of its affiliates and (ii) during the Restricted Period shall not, on Green’s own behalf or on behalf of any person, firm, partnership, association, corporation or business organization, entity or enterprise, solicit business for a Competing Business from customers or suppliers of the Company or any of its affiliates with whom Green, in the case of both clauses (i) and (ii) above, had or made material business contact within the course of Green’s service by the Company within the 24-month period immediately preceding the beginning of the Restricted Period.

(2)Green (i) while providing services to the Company or any of its affiliates shall not, either directly or indirectly, call on, solicit, or attempt to induce any other officer, employee, or independent contractor of the Company or any of its affiliates to terminate his or her employment with such business and shall not assist any other person or entity in such a solicitation (regardless of whether any such officer, employee, or independent contractor would commit a breach of contract by terminating his or her employment), and (ii) during the Restricted Period, shall not, either directly or indirectly, call on, solicit, or attempt to induce any other officer, employee, or independent contractor of such business with whom Green had contact, knowledge of, or association in the course of Green’s service with the Company or any of its predecessors or affiliates, as the case may be, during the 12-month period immediately preceding the beginning of the Restricted Period, to terminate his or her employment with the Company or any of its affiliates and shall not assist any other person or entity in such a solicitation (regardless of whether any such officer, employee, or independent contractor would commit a breach of contract by terminating his or her employment). Notwithstanding the foregoing, nothing shall prohibit any person from contacting Green about employment or other engagement during the Restricted Period, provided that Green does not solicit the contact.

(e)Non-competition Obligation. 

(1)Without the prior written consent of the Company, Green, while providing services to the Company or any of its affiliates and thereafter until the end of the Restricted Period, whether by himself or itself, through an affiliate, in partnership or conjunction with, or as an employee, officer, director, manager, member, owner, consultant or agent of, any other person or entity within the geographical area in which the Company or any of its affiliates is actively engaged in developing, marketing and selling ophthalmic 

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pharmaceuticals on the date of this Agreement, undertake, participate, or carry on or be engaged or have any financial or other interest in, or in any other manner advise or assist any other person or entity in connection with the operation of, a Competing Business. Notwithstanding the preceding sentence, Green will not be prohibited from (i) owning less than 5% percent of any publicly traded corporation, whether or not such corporation is in a Competing Business or (ii) participating or engaging in any Competing Business if such participation or engagement is approved in writing by the Company in its sole discretion.

(2)Green, while providing services to the Company or any of its affiliates (but not during the Restricted Period), shall provide written notice of any consulting agreement or other consulting arrangement that Green enters into, within ten (10) days of the inception of such consulting agreement or other consulting arrangement.

(f)Reasonable and Continuing Obligations. Green agrees that Green’s obligations under this Section 6 are obligations which will continue beyond the date Green’s service terminates and that such obligations are reasonable, fair, and equitable in scope, terms and duration, are necessary to protect the Company’s legitimate business interests, and are a material inducement to the Company to enter into this Agreement.

(g)Remedy for Breach. Green agrees that the remedies at law of the Company for any actual or threatened breach by Green of the covenants in this Section 6 would be inadequate and that the Company shall be entitled to specific performance of the covenants in this Section 6, including entry of a temporary restraining order in state or federal court, preliminary and permanent injunctive relief against activities in violation of this Section 6, or both, or other appropriate judicial remedy, writ or order, in addition to any damages and legal expenses which the Company may be legally entitled to recover. The Company agrees, however, to give Green and, if known, Green’s attorney reasonable advance notice of any legal proceeding, including any application for a temporary restraining order, relating to an attempt to enforce the covenants in this Section 6 against Green. Green acknowledges and agrees that the covenants in this Section 6 shall be construed as agreements independent of any other provision of this Agreement or any other agreement between the Company and Green, and that the existence of any claim or cause of action by Green against the Company, whether predicated upon this Agreement or any other agreement, shall not constitute a defense to the enforcement by the Company of such covenants.

(h)Termination of Restrictive Covenants. In addition to any other right or remedy available to Green, Green shall no longer be bound by any of the restrictions set forth in this Section 6 if the Company fails to pay or to provide Green when due the amounts and benefits due hereunder or under any agreement ancillary hereto, and Green’s pursuit of such remedy shall not relieve the Company from its obligations to pay and to provide such amounts and benefits to Green.

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(i)Ownership of Inventions, Discoveries, Improvements, Etc.

(1)Green shall promptly disclose and describe to the Company all inventions, improvements, discoveries and technical developments, whether or not patentable, made or conceived by Green, either alone or with others, during such time as Green is providing services to the Company, and within one year after the date upon such service terminates, and that (i) are based in whole or in material part upon Confidential Information, or (ii) result from, or are suggested by, any work that may be done by Green for or on behalf of the Company (“Inventions”). Green hereby assigns and agrees to assign to the Company Green’s entire right, title, and interest in and to such Inventions (the “Assigned Inventions”), and agrees to cooperate with the Company both during and after such time as Green is providing services to the Company in the procurement and maintenance, at the Company’s expense and at its direction, of patents, copyright registrations, and/or protection of the Company’s rights in such Inventions. Green shall keep and maintain adequate and current written records of all such Inventions, which shall be and remain the property of the Company.

(2)If a patent application, trademark registration, or copyright registration is filed by Green or on Green’s behalf, or a copyright notice indicating Green’s authorship is used by Green or on Green’s behalf, within one year after the date on which Green’s service with the Company terminates, that describes or identifies any Invention within the scope of Green’s work for the Company or that otherwise related to a portion of the Company’s business (or any division thereof) of which Green had knowledge during such time as Green was employed with or otherwise provided service to the Company, it is to be conclusively presumed that the Invention was conceived by Green during the such time as Green was employed with or otherwise provided services to the Company. Green agrees to notify the Company promptly of any such application or registration and to assign to the Company Green’s entire right, title, and interest in such Invention and in such application or registration.

(3)If (i) Green uses or discloses any of Green’s own or any third party’s confidential information or intellectual property (collectively, “Restricted Materials”) when acting within the scope of Green’s service (or otherwise on behalf of the Company), or (ii) any Assigned Invention cannot be fully made, used, reproduced or otherwise exploited without using or violating any Restricted Materials, Green hereby grants and agrees to grant to the Company a perpetual, irrevocable, worldwide, royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such Restricted Materials and intellectual property rights therein. Green will not use or disclose any Restricted Materials for which Green is not fully authorized to grant the foregoing license.

(4)To the extent allowed by applicable law, the terms of this Section 6(i) include all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as or referred to as moral rights, artist’s rights, droit moral or the like (collectively, “Moral Rights”). To the extent Green retains any such Moral Rights under applicable law, Green hereby ratifies and consents to any action that may be 

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taken with respect to such Moral Rights by or authorized by the Company and agrees not to assert any Moral Rights with respect thereto. Green will confirm any such ratification, consent, or agreement from time to time as requested by the Company.

(j)Securities Trading Policy. Green agrees to comply with the Company’s Securities Trading Policy during the Restricted Period, and thereafter if Green has become aware of material nonpublic information during his service as a consultant or as an employee, until such information has become public or is no longer material.

(k)Release. On or before the Transition Date, Green shall enter into a general release that is reasonably satisfactory to the parties to this Agreement in which he releases all claims against the Company, with certain customary exceptions, including the obligations of the Company to Green in this Agreement.

SECTION 7. MISCELLANEOUS

(a)Notices. Notices and all other communications shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States registered or certified mail. Notices to the Company shall be sent to:

Alimera Sciences, Inc.
6120 Windward Parkway, Suite 290
Alpharetta, Georgia 30005 
Attention: Chief Executive Officer 
Facsimile: 678-990-5744

Notices and communications to Green shall be sent to the address Green most recently provided to the Company.

(b)No Waiver. Except for the notice described in Section 7(a), no failure by either the Company or Green at any time to give notice of any breach by the other of, or to require compliance with, any condition or provision of this Agreement shall be deemed a waiver of any provisions or conditions of this Agreement.

(c)Tax Matters.

(1)Notwithstanding any provision in the Agreement to the contrary, this Agreement shall at all times be interpreted and operated in compliance with the requirements of Section 409A, to the extent applicable. Specifically, to the extent necessary to avoid the imposition of tax on Green under Section 409A, payments payable upon a termination or Separation shall be suspended until six (6) months and one day following the effective date of termination or Separation, if, immediately prior to Green’s termination or Separation, Green is a “specified employee” (within the meaning of Section 409A) and Section 409A would require the delay of such payment to avoid any penalties thereunder. Each payment hereunder shall be deemed a separate payment for purposes of Section 409A. The parties intend that no payment pursuant to this Agreement shall give 

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rise to any adverse tax consequences to either party pursuant to Section 409A; provided, however, that Green acknowledges that the Company does not guarantee any particular tax treatment and that Green is solely responsible for any taxes he incurs pursuant to Section 409A, if any, as a result of this Agreement.

(2)Certain payments, distributions, and acceleration of vesting for Green made in connection with an acquisition of ownership or effective control of the Company or ownership of a substantial portion of the Company’s assets (within the meaning of section 280G of the Code and the regulations thereunder), can be subject to certain tax penalties under sections 280G and 4999 of the Code. This includes amounts payable or distributable pursuant to the terms of this Agreement or otherwise. The excise tax on any such payments, determined under sections 280G and 4999 of the Code, generally applies if all of Green’s parachute payments together equal or exceed 300% of his average annual W-2 compensation from the Company. Green is solely responsible for any taxes he incurs pursuant to sections 280G and 4999 of the Code.

(d)Georgia Law. This Agreement shall be governed by the laws of the state of Georgia without regard to its provisions relating to choice of law or conflicts of law. Any litigation that may be brought by either the Company or Green involving the enforcement of this Agreement or any rights, duties, or obligations under this Agreement, shall be brought exclusively in a Georgia state court or United States District Court in Georgia.

(e)Assignment. This Agreement shall be binding upon and inure to the benefit of the Company and any successor in interest to the Company. The Company may assign this Agreement to any affiliate or successor that acquires all or substantially all of the assets and business of the Company or a majority of the voting interests of the Company, and no such assignment shall be treated as a termination of Green’s service under this Agreement. Green’s rights and obligations under this Agreement are personal and shall not be assigned or transferred.

(f)Other Agreements. This Agreement replaces and merges any and all previous agreements and understandings regarding all the terms and conditions of Green’s employment relationship with the Company (except as otherwise provided in this Agreement), and this Agreement constitutes the entire agreement between the Company and Green with respect to such terms and conditions.

(g)Amendment. No amendment to this Agreement shall be effective unless it is in writing and signed by the Company and by Green.

(h)Invalidity. If any part of this Agreement is held by a court of competent jurisdiction to be invalid or otherwise unenforceable, the remaining part shall be unaffected and shall continue in full force and effect, and the invalid or otherwise unenforceable part shall be deemed not to be part of this Agreement.

(i)Litigation. In the event that either party to this Agreement institutes litigation against the other party to enforce his or its respective rights under this Agreement, each party shall pay its own costs and expenses incurred in connection with such litigation.

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(j)Interpretation. The recitals to this Agreement shall be taken into account in the construction or interpretation of this Agreement. The words “include,” “includes,” and “including” are deemed to be followed by the phrase “without limitation.” The captions or headings of the Sections and other subdivisions of this Agreement are inserted only as a matter of convenience or reference and have no effect on the meaning of the provisions of those Sections or subdivisions. If the provisions of this Agreement require judicial interpretation, the parties agree that the judicial body interpreting or construing the Agreement may not apply the assumption that the terms must be more strictly construed against one party by reason of the rule of construction that an instrument is to be construed more strictly against the party that itself or through its agents prepared the instrument.

(k)Survival. The respective indemnities, representations, warranties, agreements, and covenants of the Company and Green contained in this Agreement shall survive the termination of this Agreement and shall remain in full force and effect.

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IN WITNESS WHEREOF, the Company and Green have executed this Agreement in multiple originals effective as of the as of the date stated in the preamble above.

ALIMERA SCIENCES, INC.            GREEN

By:  /s/ Richard S. Eiswirth                 /s/ Kenneth Green                
       Richard S. Eiswirth, President and CFO        Kenneth Green, Ph.D.

Date:     November 28, 2018                Date:     November 28, 2018            

Signature Page to Succession and Consulting Agreement of Kenneth Green, Ph.D.SECURITIES
PURCHASE AGREEMENT

This securities purchase agreement (the “Agreement”),
dated as of November 8, 2018, by and between Hemp Naturals Inc.. a Delaware corporation, with headquarters located at 505 Montgomery
Street,

11th Floor, San Francisco, CA 94111 (the “Company”),
and Bellridge Capital LP, a Delaware company, with its office at 515 E. Las Olas Boulevard, Suite 120A, Fort Lauderdale, Florida
33301 (the “Buyer”).

 

WHEREAS:

A.                 
The Company and the Buyer are executing and delivering this Agreement in reliance upon Section 4(a)(2) of the Securities
Act of 1933, as amended (the “1933 Act”) and Rule 506 of Regulation D promulgated thereunder and enforced by
the United States Securities and Exchange Commission (the “SEC”);

B.                 
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this
Agreement a twelve percent (12%) convertible note of the Company, in the form attached hereto as Exhibit A in the aggregate
principal amount of US$65,000.00 (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,
par value US $0.001 the Company (the “Common Stock”), upon the terms and subject to the limitations and conditions
set forth in such Note. The Note shall contain a $6,500 original issue discount such that the purchase price of the Note shall
be $58,500 before deduction of expenses.

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 the 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 or its legal counsel in trust, 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 Purchase Price.

		(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 November 8, 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 and National Instrument 45-106 - Prospectus Exemptions (an “Accredited
Investor”).

		(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 Canadian United States 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 non-public
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.

		(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) 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 by the
Buyer may be sold or transferred pursuant to an exemption from registration, (c) the Securities are transferred or sold pursuant
to Rule 144 promulgated under the 1933 Act, or (d) the Securities are sold pursuant to Regulation S under the 1933 Act (or a successor
rule) (“Regulation S”), and 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 corporate transactions; (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.

    	 	2	 

    	 

    

 

		(g)	Legends. The Buyer understands that the Note and, until such time as the Conversion Shares
have been registered under the 1933 Act or may be resold pursuant to Rule 144 or Regulation S without any restriction, the Conversion
Shares will 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, RULE
144A UNDER SAID ACT OR SUCH OTHER APPLICABLE EXEMPTION FROM REGISTRATION. 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.”

and in addition the Note and any
applicable Conversion Shares issued thereunder shall bear the following legend in respect of applicable United States securities
laws until the applicable conditions under United States securities laws are satisfied:

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, or (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, 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.

    	 	3	 

    	 

    

 

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. The Company or one of its subsidiaries is the sole registered and beneficial owner
of all of the outstanding shares in the capital of or outstanding shares of capital stock or other ownership, equity or voting
interests of the subsidiaries of the Company free and clear of any Liens (as defined below), all such shares are validly issued,
fully paid and non-assessable, and no other person has any option, right, entitlement, understanding or commitment (contingent
or otherwise) regarding the right to acquire any such share or interest in any of the Company’s subsidiaries and no subsidiary
of the Company has any outstanding option, warrant, conversion or exchange privilege or other right, agreement, arrangement or
commitment obligating any such entity to issue or sell any share or ownership, equity or voting interest of such entity or security
or obligation of any kind convertible into or exchangeable or exercisable for any shares or ownership, equity or voting interests
of any such entity. Neither the Company nor any of the Company’s subsidiaries own any interest or investment (whether equity
or debt) in any other person, other than a Company subsidiary, which interest or investment is material to the Company its subsidiaries,
taken as a whole

		(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 pre-emptive
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 and 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.

    	 	4	 

    	 

    

 

		(e)	No Conflicts. The execution, delivery and performance of this Agreement and 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 Pink or OTC Market Group (collectively, the “OTCP”) and does not reasonably anticipate that the Common Stock
will be delisted by the OTCP in the foreseeable future, nor are the Company’s securities “chilled” by the Financial
Industry Regulatory Authority (“FINRA”). The Company and its subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

		(f)	Absence of Litigation. Except as disclosed in the Company’s public filings, 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 from the Company 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.

		(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.
The issuance of the Securities to the Buyer will not be integrated with any other issuance of the Company’s securities (past,
current or future) for purposes of any shareholder approval provisions applicable to the Company or its securities.

    	 	5	 

    	 

    

 

		(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) The Company is to complete schedule 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)	Intellectual Property. The Company or one of its subsidiaries owns, free and clear of all
Liens, or has a valid right to use, all Intellectual Property (A) that covers the products presently sold or under development
in the conduct of the business of the Company or its subsidiaries and (B) used or held for use in, or necessary to conduct, the
business and operations of the Company and its subsidiaries as presently conducted. When used herein, “Lien”
shall mean any pledge, lien, charge, option, hypothecation, mortgage, security interest, adverse right, prior assignment, license,
sublicense or any other encumbrance of any kind or nature whatsoever, whether contingent or absolute, or any agreement, option,
right or privilege (whether by Law, contract or otherwise) capable of becoming any of the foregoing. When used herein, “Intellectual
Property” shall mean all intellectual property and industrial property rights and rights in confidential information
of every kind and description throughout the world, including all United States, Canadian and foreign (a) patents, patent applications,
invention disclosures, and all related continuations, continuations-in-part, divisionals, reissues, re-examinations, substitutions
and extensions thereof (“Patents”), (b) registered or unregistered trademarks, service marks, names, corporate
names, trade names, domain names, logos, slogans, trade dress, design rights, and other similar designations of source or origin,
together with the goodwill symbolized by any of the foregoing (“Trademarks”), (c) copyrights and copyrightable
subject matter (“Copyrights”), (d) rights in computer programs (whether in source code, object code, or other
form), algorithms, databases, compilations and data, technology supporting the foregoing, and all documentation, including user
manuals and training materials, related to any of the foregoing (“Software”), (e) trade secrets and all other
confidential information, ideas, know-how, inventions, proprietary processes, formulae, models, and methodologies, (f) rights of
publicity, privacy, and rights to personal information, (g) moral rights and rights of attribution and integrity, (h) all rights
in the foregoing and in other similar intangible assets and (i) all applications and registrations for the foregoing.

		(k)	Investment Company. The Company is not an “investment company” within the meaning
of such term under the Investment Company Act of 1940, as amended, and the rules and regulations of the SEC thereunder.

		(l)	General Solicitation. Neither the Company nor, to its knowledge, any person acting on its
behalf, has offered or sold any of the securities contemplated in this Agreement by any form of “general solicitation”
within the meaning of Regulation D under the 1933 Act.

		(m)	Form D and Blue Sky Filings. The Company agrees to file one or more Forms D with the SEC
and all required state securities agencies on a timely basis as required under Regulation D under the 1933 Act and applicable state
blue sky laws, rules and regulations.

		(n)	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. Buyer undertakes same claim.

    	 	6	 

    	 

    

  

		(o)	Public Disclosure. The Company has timely filed all forms, reports, statements and documents,
including financial statements and management’s discussion and analysis required to be filed by the Company under applicable
U.S. Securities Laws and the rules and policies of any applicable stock exchange or quotation system. None of the documents filed
by or on behalf of the Company on the EDGAR system, as of their respective dates (and, if amended or superseded by a filing prior
to the date hereof, then on the date of such filing), contained any untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they
were made, not misleading.

		(p)	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.

		3.	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 to a maximum of US$2,500.
If requested, 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.
The Holder may deduct all such fees and expenses from the Purchase Price of the Note when funded.

		(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 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 OTCP or any equivalent replacement exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap
Market (“Nasdaq SmallCap”), the New York Stock Exchange (“NYSE”), or the American Stock Exchange
(“AMEX”) and will comply in all respects with the Company’s reporting, filing and other obligations under
the bylaws or rules of the FINRA and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any
notices it receives from the OTCP and any other exchanges or quotation systems on which the Common Stock is then listed regarding
the continued eligibility of the Common Stock for listing on such exchanges and quotation systems.

		(c)	Corporate Existence. So long as the Buyer beneficially owns any 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 OTCP, Nasdaq,
Nasdaq SmallCap, NYSE or AMEX.

    	 	7	 

    	 

    

  

		(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)	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 and the Company’s
responses thereto have been and will continue to be full, plain and true disclosure.. 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.

		(f)	Public Disclosure. So long as the Buyer beneficially owns any Note or Conversion Shares,
the Company shall timely file all forms, reports, statements and documents, including financial statements and management’s
discussion and analysis required to be filed by the Company under applicable U.S. Securities Laws and the rules and policies of
any applicable stock exchange or quotation system. None of the documents filed by or on behalf of the Company on the EDGAR system,
as of their respective dates (and, if amended or superseded by a filing prior to the date hereof, then on the date of such filing),
shall contain any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading.

		(g)	Breach of Covenants. If the Company breaches any of the covenants 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.

		4.	Governing Law; Miscellaneous.

		(a)	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the state of Delaware 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 Province
of Ontario. 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. 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.

    	 	8	 

    	 

    

 

		(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 or other electronic 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.

		(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:

Hemp Naturals Inc..

16950 North Bay Road

Suite 18033

Sunny Isles Beach, FL 33160

Attn:

 

If to the Buyer:

Bellridge Capital LP

515 E. Las Olas Boulevard, Suite
120A

Fort Lauderdale, Florida 33301

Attn: Robert Klimov

 

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

    	 	9	 

    	 

    

		(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 person that purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that
term is defined under the 1933 Act, without the consent of the Company.

		(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 or covenants set forth in this Agreement or any of its covenants or 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.

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

	Hemp Naturals Inc.
	By:	 
	 	
        Name:

        Title:

	 	 
	BELLRIDGE CAPITAL LP.
	By:	 
	 	
        Name:

        Title:

AGGREGATE SUBSCRIPTION AMOUNT:

Aggregate Principal Amount of Note:US$65,000.00

Aggregate Purchase Price:US$58,500.00

Note 1: $65,000.00 less $6,500.00 in
OID, less $5,000 in fees and other expenses.

    	 	10	 

    	 

    

 

Exhibit A

12% CONVERTIBLE NOTE - $65,000.00

(attached)

    	 	11	 

    	 

    

 

Schedule 3(f)

 

None

    	 	12	 

    	 

    

Schedule 3(i)

 

None

    	 	13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}]]