Document:

Exhibit 10.4

Exhibit 10.4

GENERAL CANNABIS CORP

LETTER AGREEMENT

November 15, 2019

Reference is made to the Promissory Note (the “Note”) dated July 18, 2019, issued by General Cannabis Corp (the “Company”) to SBI Investments LLC, 2014-1. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Note.

For good and valuation consideration, the parties hereby agree, effective as of the first date above, as follows:

(a)

Extension of Maturity Date.  The Maturity Date of the Note shall be extended to November 29, 2019.

(b)

Increase in Principal Amount.  The Principal Amount of the Note shall be increased from $855,000 to $905,000.

(c)

Governing Law.  This letter agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law principles.

(d)

Full Force and Effect.  Except as modified hereby, the Note remains in full force and effect.

(e)

Counterparts.  This letter agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement.  A signed copy of this letter agreement delivered by e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this letter agreement.

			
	 
	GENERAL CANNABIS CORP

	 
	 
	 

	 
	 
	 

	 
	By:

	 

	 
	Name:

	Michael Feinsod

	 
	Title:

	Chief Executive Officer

Agreed and approved:

SBI INVESTMENTS LLC, 2014-1

		
	By:

	 

	Name:

	 

	Title:ex-10.1

  LOAN AGREEMENT
  
  
 THIS AGREEMENT made the May 30, 2019.
  
  
 BETWEEN:
  
 LASHA MORBEDADZE, of  302Yayun Ave, Panyu, Guangzhou, Guangdong 510000, China. (“Lender”)
  
 OF THE FIRST PART
  
 AND:
  
 EXCELLERANT, INC.  a company incorporated pursuant to the laws of Nevada with an address at 302Yayun Ave, Panyu, Guangzhou, Guangdong 510000, China. ("Company")
  
 OF THE SECOND PART
  
 WHEREAS:
  
 A.Company requires funding in connection with its business operations; 
  
 B.Lender has agreed to loan the amount up to US$25,000 to the Company, on certain terms and conditions contained herein; 
  
 NOW THEREFORE THIS AGREEMENT WITNESSETH the parties hereto agree as follows:
  
 1.Lender hereby agrees to loan the amount up to US$25,000. The Lender may lend additional amount after the initial $25,000 loan, but he is not required to do so. 
  
 2.Loan funds advanced shall be non-interest bearing, secured and payable upon demand. 
  
 3.Any additional funds that Lender loans to Company subsequent to this Agreement shall be subject to the same terms as this Agreement, unless otherwise agreed in writing. 
  
 IN WITNESS WHEREOF the parties hereto have hereunto affixed their respective hands, both as of the day and year first above written.
  
  
 	  
	 EXCELLERANT, INC.

	  
	  

	 /s/ Lasha Morbedadze
	 /s/ Lasha Morbedadze

	 Lasha Morbedadze
	 Authorized Signatoryex-10.2

  Consulting Agreement
  
 This Consulting Agreement (the "Agreement") states the terms and conditions that govern the contractual agreement between LASHA MORBEDADZE (the "Consultant"), and EXCELLERANT, INC. (the "Client") who agrees to be bound by this Agreement.
  
 WHEREAS, the Consultant offers services which include managing the overall operations of the Company required by Excellerant, Inc.
  
 WHEREAS, the Client is in need of assistance in the business support area, according to the terms and conditions herein.
  
 NOW, THEREFORE, In consideration of the mutual covenants and promises made by the parties hereto, the Consultant and the Client covenant and agree as follows:
  
 1. Term
  
 This Agreement shall begin on June 01, 2019 and continue for 24 months.
  
 2. Consulting Services
  
 The Consultant agrees that it shall provide its expertise to the Client for all things pertaining to business support area (the "Consulting Services").
  
 3. Compensation
  
 In consideration for the Consulting Services, the Client shall pay the Consultant $1,000 per month.
  
 4. Intellectual Property Rights
  
 The Parties acknowledge and agree that the Client will hold all intellectual property rights in any work product resulting from the Consulting Services including, but not limited to, copyright and trademark rights. The Consultant agrees not to claim any such ownership in such work product's intellectual property.
  
 5. Confidentiality
  
 The Consultant shall not disclose to any third party any details regarding the Client's business, including, without limitation any information regarding any of the Client's customer information, business plans, or price points (the "Confidential Information"), (ii) make copies of any Confidential Information or any content based on the concepts contained within the Confidential Information for personal use or for distribution unless requested to do so by the Client, or (iii) use Confidential Information other than solely for the benefit of the Client.
  
 6. Noncompetition
  
 During the term of this Agreement and for 12 months thereafter, the Consultant shall not engage, directly or indirectly, as an employee, officer, manager, partner, manager, consultant, agent, owner or in any other capacity, in any competition with the Client or any of its subsidiaries, including any company engaged in the same business area.
  
 7. Nonsolicitation of Customers
  
 During the term of this Agreement and for 12 months thereafter, the Consultant will not, directly or indirectly, solicit or attempt to solicit any business from any of the Company's clients, prospects, employees or contractors.
 
  
 
  
 
 8. Nonsolicitation of Employees
  
 During the term of this Agreement and for 12 months thereafter, the Consultant will not, directly or indirectly, recruit, solicit, or induce, or attempt to recruit, solicit, or induce, any of the Company's employees, or contractors for work at another company.
  
 9. No Modification Unless in Writing
  
 No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.
  
 10. Applicable Law
  
 This Consulting Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of Nevada.
  
 WHEREFORE the parties have executed this Agreement as of the date first written above
  
  
 /s/ Lasha Morbedadze
 Lasha Morbedadze (the "Consultant")
  
  
 /s/ Lasha Morbedadze
 Excellerant, Inc. (the "Client")
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
 2ex-10.3

  SERVICE AGREEMENT
  
 BETWEEN
  
 EXCELLERANT, INC.
 (the “Customer”)
  
 - AND -
  
 MA FENGMEI
 (the “Service Provider”).
  
 BACKGROUND:
  
 1.The Customer is of the opinion that the Service Provider has the necessary qualifications, experience and abilities to provide services to the Customer. 
  
 2.The Service Provider is agreeable to providing such services to the Customer on the terms and conditions set out in this Agreement. 
  
 IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Customer and the Service Provider (individually the “Party” and collectively the “Parties” to this Agreement) agree as follows:
  
 Services Provided
  
 1.The Customer hereby agrees to engage the Service Provider to provide the Customer with services (the “Services”) consisting of: 
  
 ·Providing the following services by demand: guide services, development of excursion programs, instructing tourists, interpreter service, coordinating tourists in emergency situations, consulting services. 
  
 2.The Services will also include any other tasks which the Parties may agree on. The Service Provider hereby agrees to provide such Services to the Customer. 
  
 Term of Agreement
  
 3.The term of this Agreement (the “Term”) will begin on the date of this Agreement and will remain in full force and effect indefinitely until terminated as provided in this Agreement. 
  
 4.In the event that either Party wishes to terminate this Agreement, that Party will be required to provide 30 days notice to the other Party. 
  
 5.Except as otherwise provided in this Agreement, the obligations of the Service Provider will end upon the termination of this Agreement. 
  
 Performance
  
 6.The Parties agree to do everything necessary to ensure that the terms of this Agreement take effect. 
  
 Currency
  
 7.Except as otherwise provided in this Agreement, all monetary amounts referred to in this Agreement are in Chinese RMB. 
 
  
 
 
  
  
 Compensation
  
 8.For the services rendered by the Service Provider as required by this Agreement, the Customer will provide compensation (the “Compensation”) to the Service Provider as follows: 
  
 ·The Customer will pay the Service Provider per project agreed. Each project has its own costs and the Service Provider agrees to inform the Customer what are the costs for execution of each project. 
 ·For the one day services The Customer will pay the Service Provider 300rmb/hour, with at least 4 hours working day. 
  
 9.The Compensation will be payable upon completion of the Services. 
  
 10.The above Compensation includes all payments for all services provided. 
  
 Provision of Extras
  
 11.The Customer will not provide any resources, assistance or extras for use by the Service Provider in providing the Services. 
  
 Reimbursement of Expenses
  
 12.The Service Provider will not be reimbursed for expenses incurred by the Service Provider in connection with providing the Services of this Agreement. 
  
 Confidentiality
  
 13.Confidential information (the “Confidential Information”) refers to any data or information relating to the Customer which would reasonably be considered to be proprietary to the Customer. 
  
 14.The Service Provider agrees that they will not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Service Provider has obtained, except as authorized by the Customer. This obligation will survive indefinitely upon termination of this Agreement. 
  
 15.All written and oral information and material disclosed or provided by the Customer to the Service Provider under this Agreement is Confidential Information regardless of whether it was provided before or after the date of this Agreement or how it was provided to the Service Provider. 
  
 Return of Property
  
 16.Upon the expiry or termination of this Agreement, the Service Provider will return to the Customer any property, documentation, records, or Confidential Information which is the property of the Customer. 
  
 Capacity/Independent Contractor
  
 17.In providing the Services under this Agreement it is expressly agreed that the Service Provider is acting as an independent contractor and not as an employee. The Service Provider and the Customer acknowledge that this Agreement does not create a partnership or joint venture between them, and is exclusively a contract for service. 
  
 Dispute Resolution
  
 18.In the event a dispute arises out of or in connection with this Agreement, the Parties will attempt to resolve the dispute through friendly consultation. 
 
 2
 
 
  
  
 Modification of Agreement
  
 19.Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party. 
  
 Time of the Essence
  
 20.Time is of the essence in this Agreement. No extension or variation of this Agreement will operate as a waiver of this provision. 
  
 Entire Agreement
  
 21.It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement except as expressly provided in this Agreement. 
  
 IN WITNESS WHEREOF the Parties have duly affixed their signatures under hand and seal on June 10, 2019.
  
  
 EXCELLERANT, INC. (Customer)
  
 /s/ Lasha Morbedadze
 Lasha Morbedadze, CEO
  
  
 MA FENGMEI (Service Provider)
  
 /s/ Ma Fengmei
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
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