Document:

Exhibit
10.2

 

Exhibit
A Form of Note

 

THESE
SECURITIES AND THE SECURITIES INTO WHICH THEY CONVERT HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION
NOR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AND COMPANY RESTRICTIONS.

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, JUPITER WELLNESS, INC., a Delaware corporation, its successors and assigns (the “Company) promises to pay
to the order of Greentree Financial Group, Inc., a Florida corporation (“Holder”), in immediately available funds, the aggregate
principal amount set forth below (the “Principal Amount”), plus all accrued interest thereon, in accordance with the terms
of this Convertible Promissory Note (“Note”).

 

	EFFECTIVE
    DATE: 	April
    20, 2022
	PRINCIPAL
    AMOUNT: 	$1,500,000
	ORIGINAL
    ISSUANCE DISCOUNT:	5%
    of principal amount, or $75,000
	NET
    PROCEEDS TO THE COMPANY: 	$1,425,000
	MATURITY
    DATE: 	October
    20, 2022

 

	1.	INCORPORATION.
    This Note is being issued pursuant to the terms of that certain Loan Agreement, dated as of April 20, 2022 by and between the Company
    and the Holder (the “Loan Agreement”). If not otherwise defined herein, all capitalized terms herein shall have the meanings
    given to them in the Loan Agreement. Further, all of the terms, representations, warranties, agreements, covenants and conditions
    set forth in the Loan Agreement are incorporated herein by reference. To the extent that there is a conflict between any condition,
    term or provision of this Note and the Loan Agreement, the conditions, terms, and provisions set forth herein shall specifically
    supersede the conflicting conditions, provisions and/or terms in the Loan Agreement.
	 	 
	2.	PAYMENT.
    All outstanding principal and accrued but unpaid interest and fees shall be due and payable six-months from the Effective
    Date (“Maturity Date”). Payment shall be made at Holder’s address at 7951 SW 6th Street, Suite 216,
    Plantation, FL 33324, or as otherwise directed by Holder. Notwithstanding the above, this Note is convertible to Common Stock at
    $2.79 per share or the Alternative Conversion Price if in default as set forth in Section 6(b). In the event that the Company consummates
    any kinds of financing of at least $5.0 million while the Note is outstanding (a “Qualified Financing”), the Company
    agrees to apply all proceeds from its Qualified Financing to repayment of this Note until it has been paid in full. Additionally,
    if the Company collects any or all of the indebtedness due from Next Frontier Pharmaceuticals, Inc., the Company agrees to apply
    all proceeds to repayment of this Note until it has been paid in full.
	 	 
	3.	INTEREST.
    Interest shall accrue on the unpaid principal balance of this Note at the annual rate of Eight Percent (8%) until the entire
    Principal Amount is paid in full. Interest shall not be compounded and shall be computed on the basis of a three hundred sixty (360)
    day year comprised of twelve (12) months of thirty (30) days each, with any calculation based upon a partial month of less than thirty
    (30) days based on actual days lapsed. The Company will make interest payments quarterly, with the first interest payment due three
    (3) months from the Effective Date hereof and on each 3 months from such date until all interest and outstanding principal is paid
    in full.

 

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Exhibit
A Form of Note

 

	4.	PREPAYMENT.
    The Company may, at its option, at any time and from time to time, prepay all or any part of the principal balance of this Note
    before the Maturity Date, without any penalty; provided, that it shall provide Holder with fifteen (15) days’ advanced
    written notice of its intent to prepay this Note. Holder shall have the option to elect to convert this Note per the terms of this
    Note and the Loan Agreement at any time prior to the Company’s prepayment. Any partial prepayments would be applied to accrued
    interest balance first, then fees and then principal.
	 	 
	5.	REORGANIZATION.
    In case of any consolidation or merger of the Company with or into any other corporation, entity or person, or any other corporate
    reorganization, in which the Company experiences a change in control (any such transaction being hereinafter referred to as a “Reorganization”),
    then, in each case, the Holder of this Note, shall have the right to request early full payment of any loan balances then due and
    outstanding. The Company shall also ensure that the surviving entity in any Reorganization specifically assumes any of the Company’s
    remaining obligations under this Note and the Loan Agreement.
	 	 
	6.	CONVERSION.

 

	 	a)	Upon
    advance written notice (“Conversion Notice”), at any time or from time to time, the Holder at its sole option, may convert
    the outstanding Principal Amount of this Note, or any portion of the Principal Amount hereof, and any accrued interest, in whole
    or in part, into shares of the common stock of the Company (the “Common Stock”). Any amount so converted under this Note
    will be converted into common stock of the Company at $2.79 per share (“Conversion Price”), which will be adjusted to
    Alternative Conversion Price if any event of default occurs.
	 	 	 
	 	b)	Alternative
    Conversion Price in the event of default will be $1.00 per share.
	 	 	 
	 	c)	Conversion
    Limitation. Notwithstanding any other provision of this Note, the Holder may not convert this Note if such conversion would cause
    Holder’s beneficial ownership (as defined by Section 13(d) of the Securities Exchange Act of 1934, as amended) of the Company
    to exceed 9.9% of its total issued and outstanding common or voting shares. Any common shares converted under this Note need to be
    delivered to the Holder within three (3) business days of the receipt of Conversion Notice.
	 	 	 
	 	d)	Authorized
    and Reserved Shares. The Company covenants that at all times until the Note is satisfied in full, the Company will reserve from
    its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance
    of a number of shares of Common issuable upon the full conversion of this Note (assuming no payment of Principal Amount or interest)
    as of any issue date (taking into consideration any adjustments to the conversion price) multiplied by (ii) three (3) (the
    “Reserved Amount”). The initial Reserved Amount as of the Issue Date shall be 1,600,000 shares. In the event that the
    Company shall be unable to reserve the entirety of the Reserved Amount (the “Reserve Amount Failure”), the Company shall
    promptly take all actions necessary to increase its authorized share capital to accommodate the Reserved Amount (the “Authorized
    Share Increase”), including without limitation, all board of directors actions and approvals and promptly (but no less than
    60 days following the calling and holding a special meeting of its shareholders no more than 60 days following the Reserve Amount
    Failure to seek approval of the Authorized Share Increase via the solicitation of proxies. The Company represents that upon issuance,
    the conversion shares will be duly and validly issued, fully paid and non-assessable. The Company (i) acknowledges that it has irrevocably
    instructed its transfer agent to issue certificates for the conversion shares or instructions to have the conversion shares issued
    as contemplated by this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers and
    agents who are charged with the duty of executing stock certificates or cause the Company to electronically issue shares of Common
    Stock to execute and issue the necessary certificates for the conversion shares or cause the conversion shares to be issued as contemplated
    in accordance with the terms and conditions of this Note.

 

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Exhibit
A Form of Note

 

	7.	CONVERSION
    COST. The Company agrees to reimburse the Holder’s certificate processing cost by adding $1,500 to the Principal for each
    note conversion of at least $150,000 effected by Holder. If the conversion is for less than that amount, the Holder shall be responsible
    for any costs.
	 	 
	8.	COMMON
    SHARE ISSUANCE. Upon receipt by the Company of a written request from Holder to convert any amount due under any Note, subject
    to any limitations on conversion contained in any Note, the Company shall have three (3) business days (“Delivery Date”)
    to issue the shares of Common Stock rightfully listed in such request. If the Company fails to timely deliver the shares, the Company
    shall pay to Holder in immediately available funds $1,000 per day past the Delivery Date that the shares are actually issued. Any
    amounts due under this Section shall be paid by the fifth (5th) day of the month following the month in which they accrued or, at
    the option of Holder, may be added to the principal under any Note. The Company agrees that the right to convert the Notes is a valuable
    right to Holder and a material consideration of it entering this Note and the Loan Agreement. The parties agree that it would be
    impracticable and extremely difficult to ascertain the amount of actual damages caused by a failure of the Company to timely deliver
    shares as required hereby. Therefore, the parties agree that the foregoing liquidated damages provision represents reasonable compensation
    for the loss which would be incurred by the Holder due to any such breach. The parties agree that this Section is not intended to
    in any way limit Holder’s right to pursue other remedies, including actual damages and/or equitable relief.
	 	 
	9.	ADJUSTMENTS.

 

	 	a)	In
    case the Company shall at any time prior to the conversion of the Note, or the maturity of the Note, whichever occurs later, effect
    a recapitalization or reclassification of such character that its Common Stock shall be changed into or become exchangeable for a
    larger number of shares, then the Conversion Price shall be appropriately adjusted to reflect any such event.

 

	10.	REGISTRATION
    RIGHTS. 

 

This
Note will have registration rights. The Company shall prepare and file with the United States Securities and Exchange Commission (the
“Commission” or “SEC”) a registration statement on Form S-1 (the “Form S-1” or “Registration
Statement”) within 60 days from the Effective Date to cover three times the Common Stock underlying the Note conversion based on
the Alternative Conversion Price. The Form S-1 must be effective within 90 days from the filing date. There shall be monthly liquidated
damages equal to 2% of the Principal Amount (the “Liquidated Damage Penalty”) if the Registration Statement is not filed
within 60 days from the Effective Date and / or declared effective within 45 days from the filing date of the Form S-1, which damages
shall accrue each month until the applicable breach (failure to timely file, failure to timely have declared effective, or both) has
been cured.The maximum penalty under this Section 10 shall be 10% if a Rule 144 resale exemption on the shares underlying the Note is
available and continues to be available while the Note has an any outstanding balances. The parties acknowledge and agree that damages
which will result to Holder for Company’s failure to timely file or have declared effective the Registration Statement shall be
extremely difficult or impossible to establish or prove, and agree that the payment of Liquidated Damage Penalty is a reasonable estimate
of potential damages and shall constitute liquidated damages for any breach of this paragraph. Any amounts due under this Section shall
be paid by the fifth (5th) day of the month following the month in which they accrued or, at the option of Holder, added to the principal
of this Note. The legal fees associated with filing the Form S-1 shall be paid by Company.

 

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Exhibit
A Form of Note

 

If
(i) the Registration Statement on Form S-1 is not filed with the Commission within 60 days from the Effective Date, (ii) the Registration
Statement has not been declared effective by the Commission within 90 days from the filing date of the Registration Statement, or (iii)
any registration statement required by this Agreement is filed and declared effective by the Commission but shall thereafter cease to
be effective or fail to be usable for its intended purpose (each such event referred to as a “Registration Default”), the
Company hereby agrees to pay to the Holder Liquidated Damage Penalty as set forth in Section 10 until the Form S-1 takes effective.
Following the cure of all Registration Defaults relating to any particular registrable Securities, Liquidated Damages shall cease to
accrue; provided, however, that, if after Liquidated Damages have ceased to accrue, a different Registration Default occurs, Liquidated
Damages shall again accrue pursuant to the foregoing provisions. Any amounts due under this Section shall be paid by the fifth (5th)
day of the month following the month in which they accrued.

 

	11.	DEFAULT.
    The occurrence of any one of the following events shall constitute an Event of Default:

 

	 	a)	The
    non-payment, when due, of any principal or interest pursuant to this Note;
	 	 	 
	 	b)	The
    material breach of any representation or warranty in the Loan Agreement;
	 	 	 
	 	c)	The
    breach of any material covenant or undertaking herein or therein the Loan Agreement;
	 	 	 
	 	d)	The
    commencement by the Company of any voluntary proceeding under any bankruptcy, reorganization, arrangement, insolvency, readjustment
    of debt, receivership, dissolution, or liquidation law or statute of any jurisdiction, whether now or hereafter in effect; or the
    adjudication of the Company as insolvent or bankrupt by a decree of a court of competent jurisdiction; or the petition or application
    by the Company for, acquiescence in, or consent by the Company to, the appointment of any receiver or trustee for the Company or
    for all or a substantial part of the property of the Company; or the assignment by the Company for the benefit of creditors; or the
    written admission of the Company of its inability to pay its debts as they mature;
	 	 	 
	 	e)	The
    commencement against the Company of any proceeding relating to the Company under any bankruptcy, reorganization, arrangement, insolvency,
    adjustment of debt, receivership, dissolution or liquidation law or statute of any jurisdiction, whether now or hereafter in effect,
    provided, however, that the commencement of such a proceeding shall not constitute an Event of Default unless the Company consents
    to the same or admits in writing the material allegations of same, or said proceeding shall remain undismissed for 20 days; or the
    issuance of any order, judgment or decree for the appointment of a receiver or trustee for the Company or for all or a substantial
    part of the property of the Company, which order, judgment or decree remains undismissed for 20 days; or a warrant of attachment,
    execution, or similar process shall be issued against any substantial part of the property of the Company;
	 	 	 
	 	f)	The
    Company liquidates, transfers, sells or assigns substantially all of its assets or elects to wind down its operations or dissolve;
	 	 	 
	 	g)	The
    Company fails to maintain irrevocable TA instruction or file with the Company’s transfer agent along with a reserve of common
    shares sufficient to satisfy the Note based on a then hypothetical conversion scenario per the terms of the Note;
	 	 	 
	 	h)	The
    Company fails to maintain DTC or DWAC eligibility;

 

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Exhibit
A Form of Note

 

	 	i)	The
    Company fails to stay current in its SEC reporting obligations or maintain its continued listing of the Company’s common stock
    on NASDAQ Global Market.
	 	 	 
	 	j)	The
    Company fails to deliver the Holder the shares of Common Stock rightfully listed in the Conversion Notice and Warrant Exercise Notice
    within three (3) business days;
	 	 	 
	 	k)	The
    Company defaults on any other debt or warrant agreement exceeding a value of $500,000;
	 	 	 
	 	l)	The
    Company breaches any other agreement it has with Holder or his assigns;
	 	 	 
	 	m)	The
    Company interferes with Holder’s or its assigns’ efforts to remove the restrictive legend from the Common Stock issued
    as a result of conversion of the Note when Holder or his assign has provided an attorney opinion letter opining that the shares are
    eligible to have the legend removed pursuant to Rule 144 or otherwise; or
	 	 	 
	 	n)	The
    Company fails to prepare and file with the Commission a registration statement on Form S-1 within 60 days from the Effective Date
    to cover the Common Stock underlying the Note and Warrants granted hereto, or the Form S-1 fails be effective within 90 days from
    the filing date of the Registration Statement.

 

There
will be no cure period available for the Event of Default as defined in Sections 11(d), (e) and (n); Upon the occurrence of any other
Event of Default, and provided such Event of Default as defined in Section 11, has not been cured by the Company within ten (10) business
days after the occurrence of such Event of Default (except a payment default of any interest, principal and/or other amount when due,
of which no cure period is available), the Holder, may, by written notice to the Company, declare all or any portion of the unpaid Principal
Amount due to Holder, together with all accrued interest thereon, immediately due and payable (without advanced notice as may otherwise
by required hereunder); provided that upon the occurrence of an Event of Default as set forth in paragraph (d) or paragraph (e) hereof,
all or any portion of the unpaid Principal Amount due to Holder, together with all accrued interest thereon, shall immediately become
due and payable without any such notice. Upon the occurrence of an uncured Event of Default as set forth in paragraph (n), a Liquidated
Damage Penalty is payable to Holder per month until Form S-1 takes effective. Any amounts due under this Section shall be paid by the
fifth (5th) day of the month following the month in which they accrued. Holder shall also have all other remedies available under law
and equity. For an event of Default as provided in Section 11(n) above, the penalty shall be limited to the 2% per month penalty set
forth in Section 10 above.

 

In
the event that Holder at its sole discretion elects to allow the Company to continue with repayment of the principal and interest on
this Note after an Event of Default, the interest rate on the unpaid principal of this Note will change to 18% (the “Default Interest
Rate”). In the event of any changes under Florida law relating to the increases or decreases of allowable interest rates, this
Note will be changed to the highest amount allowable under Florida law without notification or further ratification. As of the date of
Default or any Event of Default, assuming the Holder allows reinstatement or continuation of this Note, the Default Interest Rate shall
become the new rate of interest on this Note.

 

Any
payments that the Holder allows under this section shall be made through a wire transfer of funds or Certified Check.

 

Upon
the occurrence of any Event of Default, the Holder at any time, at its sole discretion, may elect to immediately (without prior notice)
convert the outstanding Principal Amount of this Note, or any portion of the Principal Amount hereof, and any accrued interest, in whole
or in part, into shares of the Common Stock, according to the terms of this Note.

 

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Exhibit
A Form of Note

 

	12.	NOTICE.
    Any and all notices, demands, advance requests or other communications required or desired to be given hereunder by any party
    shall be in writing and shall be validly given or made to another party if (i) personally served, (ii) sent by email on the date
    such email is sent (provided confirmation of such email being sent is provided upon request) (iii) deposited in the United States
    mail, postage prepaid, return receipt requested, or (iv) by facsimile with confirmation receipt. Notice hereunder is to be given
    as follows:

 

	 	If
    to the Company:
	 	 	 
	 	 	JUPITER
    WELLNESS, INC.
	 	 	1061
    E. Indiantown Road, Suite 110
	 	 	Jupiter,
    FL 33477
	 	 	 Attn:
    Brian John
	 	 	 
	 	If
    to the Holder:
	 	 	 
	 	 	Greentree
    Financial Group, Inc.
	 	 	7951
    S.W. 6th Street, Suite 216
	 	 	Plantation,
    Florida 33324
	 	 	Attn:
    R. Chris Cottone

 

	13.	SUCCESSION
    AND ASSIGNABILITY. This Note shall be binding upon and inure to the benefit of the parties hereto and their respective successors
    and permitted assigns. The Holder may assign any of his or its rights, interests, or obligations hereunder on his or its own discretion
    without further approval from the Company.
	 	 
	14.	GOVERNING
    LAW AND CONSENT TO JURISDICTION. This Note shall be governed by and construed in accordance with the laws of the State of Florida,
    without regard to conflict of law provisions. All disputes arising out of or in connection with this Note, or in respect of any legal
    relationship associated with or derived from this Note, shall only be heard in any competent court residing in Broward County, Florida.
    The Company agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions
    by suit on the judgment or in any manner provided by law. The Company further waives any objection to venue in any such action or
    proceeding on the basis of inconvenient forum. The Company agrees that any action on or proceeding brought against the Holder shall
    only be brought in such courts.
	 	 
	15.	ATTORNEYS
    FEES. In the event the Holder hereof shall refer this Note to an attorney to enforce the terms hereof, the Company agrees to
    pay all the costs and expenses incurred in attempting or effecting the enforcement of the Holder’s rights, including reasonable
    attorney’s fees, whether or not suit is instituted.
	 	 
	16.	CONFORMITY
    WITH LAW. It is the intention of the Company and of the Holder to conform strictly to applicable usury and similar laws. Accordingly,
    notwithstanding anything to the contrary in this Note, it is agreed that the aggregate of all charges which constitute interest under
    applicable usury and similar laws that are contracted for, chargeable or receivable under or in respect of this Note, shall under
    no circumstances exceed the maximum amount of interest permitted by such laws, and any excess, whether occasioned by acceleration
    or maturity of this Note or otherwise, shall be canceled automatically, and if theretofore paid, shall be either refunded to the
    Company or credited on the Principal Amount of this Note.

 

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Exhibit
A Form of Note

 

	17.	SEVERABILITY.
    If any portion of this Note is declared by a court of competent jurisdiction to be invalid or unenforceable, such portion shall be
    deemed severed from this Note, and the remaining part shall remain in full force and effect as if no such invalid or unenforceable
    provisions had been a part of this Note.
	 	 
	18.	WAIVER.
    Holder shall not be deemed to have waived any rights under this Note unless such waiver is given in a dated writing signed by
    Holder. No delay or omission on the part of Holder in exercising any right pursuant to this Note shall operate as a waiver of such
    right or any other right. A waiver by Holder of any provision of this Note or of any rights against any individual, entity or collateral
    shall not prejudice or constitute a waiver of strict compliance of any other provision of this Note by any other individual or entity.
    No prior waiver by Holder or course of dealing between Holder and any individual or entity collectively constituting the Company
    shall constitute a waiver of any rights of Holder or of any obligations pursuant to this Note.
	 	 
	19.	This
    Note and the Loan Agreement (and the warrant issued thereunder) constitute the entire agreement between the parties relating to the
    subject matter hereof, and may not be altered or amended except by written agreement signed by the parties. 

 

In
witness whereof, the below parties signed and sealed this Note as of above date written.

 

	JUPITER
    WELLNESS, INC.	 
	(“COMPANY”)	 
	 	 	 
	By:	 	 
	Name:	Brian
    John	 
	Title:	Chief
    Executive Officer	 

 

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10.3

 

Exhibit
B

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
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 AND REASONABLY APPROVED BY THE COMPANY),
IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A
UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN
OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

 

 

COMMON
STOCK PURCHASE WARRANT

 

	Number
    of shares: 1,100,000	 	Holder:
    Greentree Financial Group, Inc. 
	 	 	 
	Exercise
    Price per Share: $2.79	 	Warrant
    No. 2022-______
	 	 	 
	Expiration
    Date: April 20, 2027	 	Issue
    Date: April 20, 2022

 

 

FOR
VALUE RECEIVED, JUPITER WELLNESS, INC., a Delaware corporation (the “Company”), hereby certifies that Greentree
Financial Group, Inc., or its designated assigns (the “Warrant Holder”), is entitled to purchase the securities
set forth below.

 

This
Warrant entitles the Warrant Holder to purchase from the Company at any time after the Issue Date and before the Expiration Date, One
Million One Hundred Thousand (1,100,000) shares (the “Warrant Shares”) of common stock (the “Common
Stock”) of the Company at an exercise price of Two Dollars and Seventy Nine (US$2.79) per share (as adjusted from time
to time as provided in Section 7 hereof, the “Exercise Price”), at any time and from time to time from and after the
Issue Date and through and including 5:00 p.m. New York time on the Expiration Date.

 

This
Warrant is being issued pursuant to that certain Loan Agreement, dated as April 20, 2022 by and between the Company and the Warrant Holder,
(the “Loan Agreement”). Capitalized terms used herein but not otherwise defined herein, shall have the meanings given to
them in the Loan Agreement.

 

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This
Warrant is subject to the following terms and conditions:

 

1. Registration
of Warrant. The Company shall register this Warrant upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Warrant Holder hereof from time to time. The Company may deem and treat the registered
Warrant Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Warrant
Holder, and for all other purposes, unless provided notice to the contrary in accordance herewith.

 

2. Investment
Representation. The Warrant Holder by accepting this Warrant represents that the Warrant Holder is acquiring this Warrant for its
own account or the account of an affiliate for investment purposes and not with the view to any offering or distribution and that the
Warrant Holder will not sell or otherwise dispose of this Warrant or the underlying Warrant Shares in violation of applicable securities
laws. The Warrant Holder acknowledges that the certificates representing any Warrant Shares will bear a legend indicating that they have
not been registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be sold
by the Warrant Holder except pursuant to an effective registration statement or pursuant to an exemption from registration requirements
of the 1933 Act and in accordance with federal and state securities laws. If this Warrant was acquired by the Warrant Holder pursuant
to the exemption from the registration requirements of the 1933 Act afforded by Regulation S thereunder, the Warrant Holder acknowledges
and covenants that this Warrant may not be exercised by or on behalf of a Person during the one year distribution compliance period (as
defined in Regulation S) following the date hereof. “Person” means an individual, partnership, firm, limited liability
company, trust, joint venture, association, corporation, or any other legal entity.

 

3. Validity
of Warrant and Issue of Shares. The Company represents and warrants that this Warrant has been duly authorized and validly issued
and warrants and agrees that all of Warrant Shares that may be issued upon the due exercise of the rights represented by this Warrant
will, when issued upon such exercise, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens
and charges with respect to the issue thereof. The Company further warrants and agrees that during the period within which the rights
represented by this Warrant may be exercised, the Company will at all times have authorized and reserved a sufficient number of shares
of Common Stock to provide for the exercise of the rights represented by this Warrant.

 

 4. Registration of Transfers and Exchange of Warrants.

 

a.
Subject to compliance with the legend set forth on the face of this Warrant, the Company shall register the transfer of this Warrant,
or any portion of this Warrant, in the Warrant Register, upon delivery by the Warrant Holder to the Company, pursuant to Section 11 of
(i) this Warrant, and (ii) a duly completed and executed written assignment. Upon any such registration or transfer, a new warrant to
purchase Common Stock, in substantially the form of this Warrant (any such new warrant, a “New Warrant”), evidencing
the portion of this Warrant so transferred shall be issued to the transferee and a New Warrant evidencing the remaining portion of this
Warrant not so transferred, if any, shall be issued to the transferring Warrant Holder. The acceptance of the New Warrant by the transferee
thereof shall be deemed the acceptance of such transferee of all of the rights and obligations of a Warrant Holder of a Warrant.

 

b.
This Warrant is exchangeable, upon the surrender hereof by the Warrant Holder to the office of the Company specified in or pursuant to
Section 11 for one or more New Warrants, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then
be purchased hereunder. Any such New Warrant will be dated the date of such exchange, and will have the same Expiration Date as the original
Warrant for which the New Warrant was exchanged.

 

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 5. Exercise of Warrants.

 

a.
Exercise of this Warrant shall be made upon delivery to the Company pursuant to Section 11, of (i) this Warrant; (ii) a duly completed
and executed election notice, in the form attached hereto (the “Election Notice”) and (iii) payment of the Exercise Price.
Payment of the Exercise Price may be made at the option of the Warrant Holder either (a) in cash, wire transfer or by certified or official
bank check payable to the order of the Company equal to Exercise Price per share in effect at the time of exercise multiplied by the
number of Warrant Shares specified in the Election Notice, or (b) through a cashless exercise as provided in Section 5(b) below. The
Company shall promptly (but in no event later than three (3) business days after the “Date of Exercise,” as defined herein)
issue or cause to be issued and cause to be delivered to the Warrant Holder in such name or names as the Warrant Holder may designate
in the Election Notice, a certificate for the Warrant Shares issuable upon such exercise, with such restrictive legend as required by
the 1933 Act, as applicable. Any person so designated by the Warrant Holder to receive Warrant Shares shall be deemed to have become
holder of record of such Warrant Shares as of the Date of Exercise of this Warrant. All Warrant Shares delivered to the Warrant Holder
the Company covenants, shall upon due exercise of this Warrant, be duly authorized, validly issued, fully paid and non-assessable.

 

b.
If the closing price per share of the Common Stock (as quoted by the Nasdaq Capital Market or other principal trading market, if applicable)
reported on the day immediately preceding the Date of Exercise (the “Fair Market Value”) of one share of Common Stock
is greater than the Exercise Price of one Warrant Share (at the date of calculation as set forth below), in lieu of exercising this Warrant
for cash, the Warrant Holder may elect to receive that number of Warrant Shares computed using the following formula:

 

X=Y
(A-B)

          A

 

Where
X= the number of shares of Common Stock to be issued to the Warrant Holder

 

Y=
the number of shares of Warrant Shares purchasable under this Warrant or, if only a portion of this Warrant is being exercised, the
portion of this Warrant being exercised (at the date of such calculation)

 

A=
Fair Market Value

 

B=
Exercise Price (as adjusted to the date of such calculation)

 

For
purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood and acknowledged that the Warrant Shares issued in a
cashless exercise transaction in the manner described above shall be deemed to have been acquired by the Warrant Holder, and the holding
period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued. This cashless exercise
provision shall not be available to the Warrant Holder if there is an effective registration statement on file with the SEC covering
the shares underlying the Warrants and such registration statement stays effective.

 

    	Initials: ___
	 

     

    

 

c.
A “Date of Exercise” means the date on which the Company shall have received (i) this Warrant (or any New Warrant,
as applicable), (ii) the Election Notice (or attached to such New Warrant) appropriately completed and duly signed, and (iii) payment
of the Exercise Price (if this Warrant is exercised on a cash basis) for the number of Warrant Shares so indicated by the Warrant Holder
to be purchased.

 

d.
This Warrant shall be exercisable at any time and from time to time for such number of Warrant Shares as is indicated in the attached
Form of Election to Purchase. If less than all of the Warrant Shares which may be purchased under this Warrant are exercised at any time,
the Company shall issue or cause to be issued, at its expense, a New Warrant evidencing the right to purchase the remaining number of
Warrant Shares for which no exercise has been evidenced by this Warrant.

 

e.
Notwithstanding any other provision of this Warrant, the Warrant Holder may not exercise this Warrant if such exercise would cause Warrant
Holder’s beneficial ownership (as defined by Section 13(d) of the Securities Exchange Act of 1934, as amended) of the Common Stock
of the Company to exceed 9.9% of its total issued and outstanding Common Stock or voting shares.

 

f.
Mandatory Exercise. This Warrant shall be exercised to shares of common stock of the Company at the Exercise Price when the Company’s
common stock closes at a price of $5.00 per share or higher for a period of 30 consecutive trading days and if the Registration Statement
covering the shares underlying the Warrants is still effective, subject to the limit of Warrant Holder’s beneficial ownership set
forth in this Section 5(e).

 

6. Common
Share Issuance. Upon receipt by the Company of a written request from Warrant Holder to exercise any portion of any Warrant, subject
to any limitations on exercise contained in any Warrant, the Company shall have three (3) business days (“Delivery Date”)
to request issuance of the shares of Common Stock rightfully listed in such request. If the Company fails to timely deliver the shares,
the Company shall pay to Warrant Holder in immediately available funds $1,000.00 per day past the Delivery Date that the shares are actually
issued. Any amounts due under this Section shall be paid by the fifth (5th) day of the month following the month in which they accrued.
The Company agrees that the right to exercise its Warrants is a valuable right to Warrant Holder and a material consideration of it entering
this Agreement. The parties agree that it would be impracticable and extremely difficult to ascertain the amount of actual damages caused
by a failure of the Company to timely deliver shares as required hereby. Therefore, the parties agree that the foregoing liquidated damages
provision represents reasonable compensation for the loss which would be incurred by the Warrant Holder due to any such breach. The parties
agree that this Section is not intended to in any way limit Warrant Holder’s right to pursue other remedies, including actual damages
and/or equitable relief.

 

    	Initials: ___
	 

     

    

 

7. Adjustment
of Exercise Price and Number of Shares. The character of the shares of stock or other securities at the time issuable upon exercise
of this Warrant and the Exercise Price therefor, are subject to adjustment upon the occurrence of the following events:

 

a.
Adjustment for Reorganization, Consolidation, Merger, Etc. In case of any consolidation or merger of the Company with or into
any other corporation, entity or person, or any other corporate reorganization, in which the Company shall not be the continuing or surviving
entity of such consolidation, merger or reorganization (any such transaction being hereinafter referred to as a “Reorganization”),
then, in each case, the Holder of this Warrant, on exercise hereof at any time after the consummation or effective date of such Reorganization
(the “Effective Date”), shall receive, in lieu of the shares of stock or other securities at any time issuable upon
the exercise of the Warrant issuable on such exercise prior to the Effective Date, the stock and other securities and property (including
cash) to which such Holder would have been entitled upon the Effective Date if such holder had exercised this Warrant immediately prior
thereto (all subject to further adjustment as provided in this Warrant). The Company shall ensure that the surviving entity in any Reorganization
specifically assumes the Company’s obligations under this Warrant.

 

b.
Exercise Price Adjustment. If at any time the Company grants, issues or sells any Common Stock, options to purchase Common Stock,
securities convertible into Common Stock or rights relating to Common Stock (the “Purchase Rights”) to any person, entity,
association, or other organization other than the Holder, at a price per share less than the Exercise Price, then the Exercise Price
hereof shall be proportionately reduced to match the price per share of the Purchase Rights. For purposes of clarification, if the exercise
price of the Warrant Shares is $2.79, and if the Company sells Common Stock at $1.50 per share at any time after the date hereof, then
the Exercise Price of Holder’s Warrant Shares would be adjusted to $1.50. Notwithstanding, the Exercise Price may not exceed $2.79
per share in any case. This Section shall not apply to an Exempt Issuance as defined in the Loan Agreement.

 

c.
Adjustments for Stock Dividends; Combinations, Etc. In case the Company shall do any of the following (an “Event”):

 

(i) declare
a dividend or other distribution on its Common Stock payable in Common Stock of the Company,

 

(ii) subdivide
the outstanding Common Stock pursuant to a stock split or otherwise, or

 

(iii) reclassify
its Common Stock,

 

then
the number of shares of Common Stock or other securities at the time issuable upon exercise of this Warrant shall be appropriately adjusted
to reflect any such Event; however, there shall be no adjustment to the Exercise Price or issuable Warrant Shares in the event of a reverse
stock split or other reduction in the authorized Common Stock of the Company.

 

d.
Certificate as to Adjustments. In case of any adjustment or readjustment in the price or kind of securities issuable on the exercise
of this Warrant, the Company will promptly give written notice thereof to the holder of this Warrant in the form of a certificate, certified
and confirmed by the Board of Directors of the Company, setting forth such adjustment or readjustment and showing in reasonable detail
the facts upon which such adjustment or readjustment is based.

 

    	Initials: ___
	 

     

    

 

8. Registration
Rights. This Warrant will have registration rights. The Company shall prepare and file with the United States Securities and Exchange
Commission (the “Commission”) a registration statement on Form S-1 (the “Form S-1” or “Registration Statement”)
within 60 days from the Issue Date to cover the Common Stock underlying the Warrants Exercise. The Form S-1 must be effective within
90 days from the filing date. There shall be monthly liquidated damages as set forth in the Loan Agreement (the “Liquidated Damage
Penalty”) if the Registration Statement is not filed within 60 days from the Issue Date and / or declared effective within 90 days
from the filing date of the Registration Statement, which damages shall accrue each month until the applicable breach (failure to timely
file, failure to timely have declared effective, or both) has been cured. The parties acknowledge and agree that damages which will result
to Holder for Company’s failure to timely file or have declared effective the Registration Statement shall be extremely difficult
or impossible to establish or prove, and agree that the payment of the Liquidated Damage Penalty is a reasonable estimate of potential
damages and shall constitute liquidated damages for any breach of this paragraph. Any amounts due under this Section shall be paid by
the fifth (5th) day of the month following the month in which they accrued. The legal fees associated with filing the Form S-1 shall
be paid by Company.

 

If
(i) the Registration Statement on Form S-1 is not filed with the Commission within 60 days from the Effective Date, (ii) the Registration
Statement has not been declared effective by the Commission within 90 days from the filing date of the Registration Statement, or (iii)
any registration statement required by this Agreement is filed and declared effective by the Commission but shall thereafter cease to
be effective or fail to be usable for its intended purpose (each such event referred to as a “Registration Default”), the
Company hereby agrees to pay to the Warrant Holder Liquidated Damage Penalty as set forth in this Section until the Form S-1 takes effective.
Following the cure of all Registration Defaults relating to any particular registrable Securities, Liquidated Damages shall cease to
accrue; provided, however, that, if after Liquidated Damages have ceased to accrue, a different Registration Default occurs, Liquidated
Damages shall again accrue pursuant to the foregoing provisions. Any amounts due under this Section shall be paid by the fifth (5th)
day of the month following the month in which they accrued.

 

9. Fractional
Shares. The Company shall not be required to issue or cause to be issued fractional Warrant Shares on the exercise of this Warrant.
The number of full Warrant Shares that shall be issuable upon the exercise of this Warrant shall be computed on the basis of the aggregate
number of Warrants Shares purchasable on exercise of this Warrant so presented. If any fraction of a Warrant Share would, except for
the provisions of this Section 8, be issuable on the exercise of this Warrant, the Company shall, at its option, (i) pay an amount in
cash equal to the Exercise Price multiplied by such fraction or (ii) round the number of Warrant Shares issuable, up to the next whole
number.

 

10. Notice.
All notices and other communications hereunder shall be in writing and shall be deemed to have been given (i) on the date they are (a)
delivered if delivered in person or (b) sent, if sent by email; (ii) on the date initially received if delivered by facsimile transmission
followed by registered or certified mail confirmation; (iii) on the date delivered by an overnight courier service; or (iv) on the third
business day after it is mailed by registered or certified mail, return receipt requested with postage and other fees prepaid as follows:

 

If
to the Company:

 

Jupiter
Wellness, Inc.

1061
E. Indiantown Road, Suite 110

Jupiter,
FL 33477

Email
Address: Bjohn@jupiterwellness.com

Attn:
Brian John

 

    	Initials: ___
	 

     

    

 

If
to the Warrant Holder:

 

Greentree
Financial Group, Inc.

7951
S.W. 6th Street, Suite 216

Plantation,
Florida 33324

Email
Address: chriscottone@gtfinancial.com

Attn:
R. Chris Cottone

 

 11. Miscellaneous.

 

a.
This Warrants is being granted pursuant to the terms of that certain Loan Agreement, dated as of April 20, 2022 by and between the Company
and the Warrant Holder (the “Loan Agreement”). If not otherwise defined herein, all capitalized terms herein shall have the
meanings given to them in the Loan Agreement. Further, all of the terms, representations, warranties, agreements, covenants and conditions
set forth in the Loan Agreement are incorporated herein by reference. To the extent that there is a conflict between any condition, term
or provision of this Warrant and the Loan Agreement, the conditions, terms, and provisions set forth herein shall specifically supersede
the conflicting conditions, provisions and/or terms in the Loan Agreement.

 

b.
This Warrant shall be binding on and inure to the benefit of the parties hereto and their respective successors and permitted assigns.
This Warrant may be amended only in writing and signed by the Company and the Warrant Holder. Holder may assign this Warrant without
consent from the Company but in accordance with the restrictions herein.

 

c.
Nothing in this Warrant shall be construed to give to any person or corporation other than the Company and the Warrant Holder any legal
or equitable right, remedy or cause of action under this Warrant; this Warrant shall be for the sole and exclusive benefit of the Company
and the Warrant Holder.

 

d.
This Warrant shall be governed by, construed and enforced in accordance with the internal laws of the State of Florida without regard
to the principles of conflicts of law thereof.

 

e.
The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any
of the provisions hereof.

  

f.
In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability
of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby and the parties will attempt
in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonably substitute therefore, and upon
so agreeing, shall incorporate such substitute provision in this Warrant.

 

g.
The Warrant Holder shall not, by virtue hereof, be entitled to any voting or other rights of a shareholder of the Company, either at
law or equity, and the rights of the Warrant Holder are limited to those expressed in this Warrant.

 

    	Initials: ___
	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by the authorized officer as of the date first above stated.

 

	 	JUPITER
    WELLNESS, INC.
	 	 	 
	 	By:
    	 
	 	Name:
    	Brian
    John
	 	Title:
    	Chief
    Executive Officer

 

    	Initials: ___
	 

     

    

 

FORM
OF ELECTION TO PURCHASE

 

(To
be executed by the Warrant Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant)

 

To:
JUPITER WELLNESS, INC.

 

The
undersigned, pursuant to the provisions set forth in the attached Warrant, hereby irrevocably elects to purchase (check applicable box):

 

	☐	________
    shares of the Common Stock covered by such Warrant; or

 

	☐	the
    maximum number of shares of Common Stock covered by such Warrant pursuant to the cashless exercise procedure set forth therein.

 

The
undersigned herewith makes payment of the full purchase price for such shares at the price per share provided for in such Warrant, which
is $___________. Such payment takes the form of (check applicable box or boxes):

 

	☐	$__________
    in lawful money of the United States; and/or

 

	☐	the
    cancellation of such portion of the attached Warrant as is exercisable for a total of _______ shares of Common Stock (using a Fair
    Market Value of $_______ per share for purposes of this calculation); and/or

 

	☐	the
    cancellation of such number of shares of Common Stock as is necessary, in accordance with the formula set forth in Section 5 of the
    Warrant, to exercise this Warrant with respect to the maximum number of shares of Common Stock purchasable pursuant to the cashless
    exercise procedure set forth in Section 5.

 

After
application of the cashless exercise feature as described above, _____________ shares of Common Stock are required to be delivered pursuant
to the instructions below.

 

The
undersigned represents and warrants that all offers and sales by the undersigned of the securities issuable upon exercise of the within
Warrant shall be made pursuant to registration of the Common Stock under the Securities Act of 1933, as amended (the “Securities
Act”), or pursuant to an exemption from registration under the Securities Act.

 

	 	Name
    of Warrant Holder:
	 	 	 
	 	(Print)	 
	 	(By:)	 
	 	(Name:)	 
	 	(Title:)	 
	 	Signatures
    must conform in all respects to the name of the Warrant Holder on the face of the Warrant.

 

    	Initials: ___

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