Document:

EX-10.1

 Exhibit 10.1 

COMPENSATION PROTECTION AGREEMENT 

THIS COMPENSATION PROTECTION AGREEMENT (the “Agreement”) is entered into effective as of
                 (the “Effective Date”), by and among CDW Corporation, a Delaware corporation (the “Company”), CDW LLC, an
Illinois limited liability company and wholly owned subsidiary of the Company (“CDW LLC”) and                  (the
“Executive”). [As of the Effective Date, this Agreement shall supersede in its entirety the Compensation Protection Agreement previously entered into by and among the Company, CDW LLC and the Executive.]1 
 WITNESSETH 

1.     Definitions. As used in this Agreement, the following terms shall have the respective meanings set forth
below: 
 (a)    “Accrued Obligations” means, as of the Date of Termination, the sum of (i) the
Executive’s base salary through the Date of Termination to the extent not theretofore paid, (ii) the amount of any bonus, annual incentive compensation, deferred compensation and other cash compensation accrued by the Executive as of the
Date of Termination to the extent not theretofore paid and (iii) any vacation pay, expense reimbursements and other cash entitlements accrued by the Executive as of the Date of Termination to the extent not theretofore paid. For the purpose of
this Section 1(a), amounts shall be deemed to accrue ratably over the period during which they are earned, but no discretionary compensation shall be deemed earned or accrued until it is specifically approved by the Board or the Compensation
Committee in accordance with the applicable plan, program or policy. 
 (b)    “Affiliate” shall mean
any corporation or other entity (i) in which the Company has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then outstanding securities of such corporation or other entity entitled to vote
generally in the election of directors or (ii) which has a direct or indirect ownership interest of 50% or more of the total combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of
directors. 
 (c)    “Board” means the Board of Directors of the Company. 

(d)    “Cause” shall mean one or more of the following: (i) the Executive’s refusal (after
written notice and reasonable opportunity to cure) to perform duties properly assigned which are consistent with the scope and nature of his/her position, or (ii) the Executive’s commission of an act materially and demonstrably detrimental
to the financial condition, goodwill or reputation of the Company or any of its subsidiaries, including acts that constitute gross negligence or willful misconduct in the performance of duties to the Company or any of its subsidiaries, or
(iii) the Executive’s commission of any theft, fraud, act of dishonesty or breach of trust resulting in or intended to result in material personal gain or enrichment of the Executive at the direct or indirect expense of the Company or any
of its subsidiaries, or (iv) the Executive’s conviction of, or plea of guilty or nolo contendere to, a felony, (v) a material violation of any restrictive covenant with respect to
non-competition, non-solicitation, confidentiality or protection of trade secrets (or similar provision regarding intellectual property) by which the Executive is bound
under any agreement between the Executive and the Company and its subsidiaries or (vi) a material and willful violation of the Company’s written policies or of the Executive’s statutory or common law duty of loyalty to the Company or
its Affiliates that in either case is materially injurious to the Company, monetarily or otherwise. No act or failure to act will be considered “willful” (x) unless it is done, or omitted to be done, by the Executive in bad faith or
without reasonable belief that the Executive’s action or omission was in the best interests of the Company or (y) if it is done, or omitted to be done, in reliance on the informed advice of the Company’s outside counsel or independent
accountants or at the express direction of the Board. 
  

	1 	 [Included only for executives who were parties to a previous Compensation Protection Agreement.]

 (e)     “Change in Control” means the
occurrence of any one of the following events: 
 (i)    During any twenty-four (24) month period,
individuals who, as of the beginning of such period, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to
the beginning of such period whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in
which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a
result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director;

 (ii)    Any “person” (as such term is defined in the Exchange Act and as used in Sections
13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 35%
or more of the combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting Securities”); provided, however, that the event described in
this paragraph (ii) shall not be deemed to be a Change in Control by virtue of any of the following acquisitions: (A) by the Company or any subsidiary; (B) by any employee benefit plan (or related trust) sponsored or maintained by the
Company or any subsidiary; (C) by any underwriter temporarily holding securities pursuant to an offering of such securities; (D) pursuant to a Non-Qualifying Transaction, as defined in paragraph
(iii), or (E) by any person of Company Voting Securities from the Company, if a majority of the Incumbent Board approves in advance the acquisition of beneficial ownership of 35% or more of Company Voting Securities by such person; 

  
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 (iii)    The consummation of a merger, consolidation,
statutory share exchange or similar form of corporate transaction involving the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the
transaction (a “Business Combination”), unless immediately following such Business Combination: (A) more than 50% of the total voting power of (1) the corporation resulting from such Business Combination (the
“Surviving Corporation”), or (2) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the
“Parent Corporation”), is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities were
converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the
Business Combination; (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly, of 35% or
more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (C) at least a majority of the members of the board
of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the Board’s approval of the execution of
the initial agreement providing for such Business Combination (any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a “Non-Qualifying
Transaction”); or 
 (iv)    The stockholders of the Company approve a plan of complete
liquidation or dissolution of the Company or the consummation of a sale of all or substantially all of the Company’s assets. 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires beneficial ownership of
more than 35% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding; provided, that if after such acquisition by
the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control of the Company shall then
occur. 
 (f)    “Company” means CDW Corporation, a Delaware corporation, and its successors and
assigns; provided, however, that in the event of the consummation of a transaction initiated by the Company involving the formation of a direct or indirect holding company of the Company for any internal legal or business purpose in which the
holders of the outstanding voting securities of the Company become the holders of the outstanding voting securities of such holding company in substantially the same proportions, all references to the “Company” herein shall be deemed to be
references to the new holding company. 

  
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 (g)    “Compensation Committee” means the Compensation
Committee of the Board, or if no such committee has been appointed, the Board. 
 (h)    “Date of
Termination” means (i) the date of the Executive’s separation from service, within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) or (ii) if the Executive’s
employment by the Company terminates by reason of death, the date of death of the Executive. 
 (i)    “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
 (j)    “Good Reason” shall
mean, without the written consent of the Executive, any one or more of the following: (i) the Company reduces the amount of the Executive’s base salary or cash bonus opportunity (it being understood that the Board shall have discretion to
set the Company’s and the Executive’s personal performance targets to which the cash bonus will be tied), (ii) [the Company materially reduces the Executive’s authority, duties, responsibilities or, after a Change in Control, the
Executive’s status, reporting responsibilities, titles, position or office]2, (iii) any successor to the Company in any merger, consolidation or transfer of assets, as described in
Section 8, does not expressly assume any material obligation of the Company to the Executive under any agreement or plan pursuant to which the Executive receives benefits or rights, or (iv) the Company changes the Executive’s place of
work to a location more than fifty (50) miles from the Executive’s present place of work; provided, however, that the occurrence of any such condition shall not constitute Good Reason unless (A) the Executive provides
written notice to the Company of the existence of such condition not later than 60 days after the Executive knows or reasonably should know of the existence of such condition, (B) the Company shall have failed to remedy such condition within 30
days after receipt of such notice and (C) the Executive resigns due to the existence of such condition within 60 days after the expiration of the remedial period described in clause (B) hereof. 

(k)    “Noncompetition Agreement” means the Noncompetition Agreement in the form of Exhibit A.

 (l)    “Person” means an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

(m)    “Potential Change in Control” means any of the following events: 

(i)    the commencement by any person of a tender or exchange offer or a proxy contest that could
ultimately result in a Change in Control; 
  

	2 	 [In the Compensation Protection Agreements with executives who were parties to a previous Compensation
Protection Agreement executed prior to January 1, 2021, bracketed language is replaced with the following language: “the Company adversely changes the Executive’s reporting responsibilities, titles or office as in effect as of the
date hereof or reduces his/her position, authority, duties, responsibilities or, after a Change in Control, his/her status, in a manner that is materially inconsistent with the positions, authority, duties, responsibilities or, after a Change in
Control, status, which the Executive then holds.”] 

  
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 (ii)    the execution of a letter of intent, agreement
in principle or definitive agreement by the Company that could ultimately result in a Change in Control; 

(iii)    the public announcement by any person of such person’s intent to take or consider taking
actions which, if consummated, could result in a Change in Control; 
 (iv)    the Board is aware that
any person has taken steps reasonably calculated to effect a Change in Control; or 
 (v)    the adoption
by the Board of a resolution to the effect that a Potential Change in Control has occurred. 

(n)    “Qualifying Termination” means termination of the Executive’s employment (1) by reason
of the discharge of the Executive by the Company other than (A) for Cause, (B) the Executive’s death or (C) the Executive’s absence from the Executive’s duties with the Company on a
full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness, or (2) by reason of the resignation of the Executive for Good Reason.

 (o)    “Severance Period” means the period commencing on the Date of Termination and ending on the
second anniversary of the Date of Termination. 
 (p)    “Termination Year Bonus” means the annual
incentive bonus which would have been earned by the Executive under the Company’s Senior Management Incentive Plan or any comparable successor plan if the Executive had remained employed by the Company for the full fiscal year in which the Date
of Termination occurs or such later date as may be required for the Executive to be entitled to receipt of the bonus. 

[    ]. [Position. As of the Effective Date, Executive shall continue to (i) be employed by the Company
as President and Chief Executive Officer, reporting to the Board, and (ii) serve as a member of the Board. During the term of this Agreement, the Company shall propose Executive for re-election to the
Board at such times as shall be necessary for Executive to remain as a member of the Board throughout such term. Upon the termination of her employment, regardless of the reason for such termination, Executive shall be deemed to have immediately
(and with contemporaneous effect) resigned from any directorships, offices or other positions that she may hold in the Company or any Affiliate, unless otherwise agreed by the parties.]3 

[    ]. [Medical Plan Access. 

(a)    In the event Executive’s employment with the Company terminates for any reason other than a termination by the
Company for Cause, each of Executive and Executive’s spouse and dependents will have continued access to participate in the Company’s medical plan until such time as an event described in Section 2(b) occurs, with the full cost for
such plan access, including any applicable taxes, to be paid by Executive. The additional medical plan access described herein will not apply until after the expiration of any benefit continuation period applicable under the Agreement and the
exhaustion of the full COBRA continuation coverage period. 
  

	3 	 [Included in the Compensation Protection Agreement with Christine Leahy. The section numbers and references in
such Compensation Protection Agreement are updated as a result of this additional section.] 

  
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 (b)    The medical plan access set forth in this Section 2 will
cease on the last day of the month of the earliest to occur of the following: (i) each of the Executive and the Executive’s spouse become eligible for Medicare (or a successor thereto); (ii) Executive becomes eligible to participate in a
subsequent employer’s medical plan; (iii) Executive’s material violation of any agreement between Executive and the Company (or its parent or subsidiary companies) with respect to noncompetition, nonsolicitation, confidentiality or
protection of trade secrets; (iv) Executive ceases to timely pay premiums after notice and a 30 day cure period; (v) Executive expressly waives coverage in writing; (vi) the Company no longer offers a medical plan to any of its
coworkers; or (vii) the Company cannot offer the medical plan access set forth in this Section 2 due to a change in applicable law.]4 

2.    Payments Upon a Qualifying Termination. 

(a)    In the event of a Qualifying Termination, and provided the Executive executes a general release agreement
substantially in the form of Exhibit B hereto (the “Release Agreement”) within sixty (60) days after the Date of Termination, and does not revoke such Release Agreement within seven (7) days after it has been
executed, the Company shall provide to the Executive, in consideration of the general release set forth in Section 2 of the Release Agreement, the obligations of the Executive contained in the Noncompetition Agreement and other good and
valuable consideration, the following benefits: 
 (i)    Payment of an amount equal to (A) the
Termination Year Bonus multiplied by a fraction, the numerator of which is the number of days of the fiscal year in which the Date of Termination occurs during which the Executive was employed by the Company and the denominator of which is 365,
less (B) any amounts previously paid to the Executive in respect of such Termination Year Bonus during such fiscal year, such amount to be payable on the same basis and at the same time as if the Executive’s employment with the
Company had continued (or at such other time as required by Section 9 hereof); 

(ii)    Continuation during the Severance Period (or at such other time as required by Section 9
hereof) in accordance with the Company’s regular payroll practices of salary replacement amounts equal to the Executive’s highest annual base salary from the Company and its Affiliates in effect during the
12-month period prior to the Date of Termination; 
  

	4 	 [Included in the Compensation Protection Agreements with Christine Leahy and Sona Chawla. The section numbers
and references in such Compensation Protection Agreements are updated as a result of this additional section.] 

  
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 (iii)    Payment of an aggregate bonus replacement
amount equal to two hundred percent (200%) of the Executive’s Termination Year Bonus, such aggregate amount to be payable in two equal installments, the first of which shall be made on the first anniversary of the Date of Termination and the
second of which shall be made on the second anniversary of the Date of Termination; provided, however, that if the Termination Year Bonus is not calculable at the time a payment is required to be made pursuant to this Section 2(a)(iii), such
payment shall be made within thirty (30) days after the Termination Year Bonus is so calculated (or at such other time as required by Section 9 hereof); provided that if the Date of Termination occurs after a Change in Control, such
aggregate bonus replacement amount shall instead be equal to two hundred percent (200%) of the average of the annual incentive bonuses paid or payable to Executive for each of the three fiscal years ending immediately prior to the date of the Change
in Control (or, if Executive was employed for fewer than three fiscal years prior to such Change in Control, two hundred percent (200%) of the average of the annual incentive bonuses paid or payable to Executive for each such year of employment);

 (iv)    Continuation, for the Severance Period, of medical, dental, disability, accident, life and
similar insurance coverage on terms comparable to those which would have been provided if the Executive’s employment with the Company had continued for that time, with the payment for such insurance coverage to be made on the same basis as if
the Executive’s employment with the Company had continued for that time, and subject to any withholding of applicable taxes with respect to such continued coverage; provided, however, that the Company’s obligation to provide each such type
of insurance coverage shall cease as of the date that the Executive becomes eligible for such type of insurance coverage under a plan or agreement of a subsequent employer. The Executive shall be obligated to notify the Company of the
Executive’s eligibility for insurance coverage under a plan or agreement of a subsequent employer on or before the date that such eligibility commences. If the Company determines that it is not reasonably practicable to provide a type of
comparable insurance coverage required by this Section 2(a)(iv) for reasons other than cost, the Company shall reimburse the Executive for the amount necessary for the Executive to acquire comparable coverage, with such reimbursement, subject
to applicable tax withholding, to be made no later than 90 days following the Company’s receipt of appropriate documentation from the Executive, but in no event later than end of the calendar year following the calendar year in which the
expense was incurred. The Company’s obligation to make any such reimbursements for expenses not already incurred by the Executive shall cease at such time as the Executive becomes eligible under a plan or agreement of a subsequent employer for
the type of insurance coverage for which the Executive is being compensated; and 
 (v)    Outplacement
services for a period of two years after the Date of Termination with a firm selected by the Company, to commence within a reasonable time following the Date of Termination. Payments pursuant to this Section 2(a)(v) shall not exceed $30,000 in
the aggregate for such two (2) year period and shall be made directly to such outplacement firm upon submission of proper documentation to the Company. 

(b)    If the employment of the Executive is terminated by the Company, the Company shall pay the Executive all Accrued
Obligations within 15 days following the Date of Termination; provided, however, that any portion of the Accrued Obligations which consists of bonus, deferred compensation or annual incentive compensation shall be determined and paid in accordance
with the terms of the relevant plan as applicable to the Executive. 

  
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 (c)    If the Executive breaches any of the covenants in the
Noncompetition Agreement, including any noncompetition, nonsolicitation or confidentiality covenants contained therein, (i) the Executive’s entitlement to the payments and benefits set forth in Section 2(a) shall be null and void,
(ii) all rights to receive or continue to receive severance payments and benefits shall thereupon cease and (iii) the Executive shall immediately repay to the Company all amounts theretofore paid to, and the value of all benefits
theretofore received by, the Executive pursuant to Section 2(a). The foregoing shall not limit any other rights or remedies the Company may have existing in its favor, including injunctive relief. 

3.    Nonqualifying Termination of Employment. If the employment of the Executive shall terminate for any reason
other than a Qualifying Termination, then the Company shall pay to the Executive all Accrued Obligations (including, in the case of death or disability, prorated annual incentive bonus (based on the target bonus under the Company’s Senior
Management Incentive Plan or any successor plan for the fiscal year in which the Executive’s termination of employment occurs), through and including the effective date of the Executive’s termination of employment in a lump sum within
thirty (30) days after the Date of Termination (or at such other time as required by Section 9 hereof); provided, however, that any portion of the Accrued Obligations that consists of bonus, deferred compensation or annual incentive
compensation shall be determined and paid in accordance with the terms of the relevant plan as applicable to the Executive. In addition, if the Executive’s employment is terminated by retirement under a retirement plan of the Company or by
resignation of the Executive other than for Good Reason, the Executive may, in the discretion of the Compensation Committee, be awarded a pro rata cash bonus for the year in which the Date of Termination occurs. 

4.    Section 280G. 

(a)    To the extent that any payment or distribution to or for the benefit of the Executive pursuant to the terms of this
Agreement or any other plan, arrangement or agreement with the Company, any of its affiliated companies, any person whose actions result in a change of ownership or effective control covered by Section 280G(b)(2) of the Code or any person
affiliated with the Company or such person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Payments”) would be subject to the excise tax (the “Excise
Tax”) imposed by Section 4999 of the Code, then the Company shall reduce the payments to the amount that is (after taking into account federal, state, local and social security taxes at the maximum marginal rates, including any excise
taxes imposed by Section 4999 of the Code) one dollar less than the amount of the Payments that would subject the Executive to the Excise Tax (the “Safe Harbor Cap”) if, and only if, such reduction would result in Executive
receiving a higher net after-tax amount. Unless Executive shall have given prior written notice specifying a different order to the Company to effectuate the Safe Harbor Cap, the Payments to be reduced
hereunder will be determined in a manner which has the least economic cost to Executive and, to the extent the economic cost is equivalent, will be reduced in the inverse order of when the Payment would have been made to Executive until the
reduction specified herein is achieved. Executive’s right to specify the order of reduction of the Payments shall apply only to the extent that it does not directly or indirectly alter the time or method of payment of any amount that is
deferred compensation subject to (and not exempt from) Section 409A. 

  
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 (b)    All determinations required to be made under this Section 4,
including whether and when the Safe Harbor Cap is required and the amount of the reduction of the Payments pursuant to the Safe Harbor Cap and the assumptions to be utilized in arriving at such determination, shall be made by a public accounting
firm or other nationally recognized consulting firm with expertise in Section 280G of the Code that is retained by the Company as of the date immediately prior to the Change in Control (the “Calculating Firm”) which shall
provide detailed supporting calculations both to the Company and Executive within fifteen (15) business days of the receipt of notice from the Company or Executive that there has been a Payment, or such earlier time as is requested by the
Company (collectively, the “Determination”). In the event that the Calculating Firm is serving as accountant, auditor or consultant for the individual, entity or group effecting the Change in Control, Executive may appoint another
nationally recognized public accounting or consulting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Calculating Firm hereunder). All fees and expenses of the Calculating Firm shall be
borne solely by the Company and the Company shall enter into any agreement requested by the Calculating Firm in connection with the performance of the services hereunder. The Determination by the Calculating Firm shall be binding upon the Company
and Executive. The Company shall bear and pay directly all costs and expenses incurred in connection with any contests or disputes with the Internal Revenue Service relating to the Excise Tax, and Executive shall cooperate, to the extent his or her
reasonable out-of pocket expenses are reimbursed by the Company, with any reasonable requests by the Company in connection with any such contests or disputes. 

5.    Withholding Taxes. The Company may withhold from all payments due to the Executive (or the Executive’s
beneficiary or estate) hereunder all taxes which, by applicable federal, state, local or other law, the Company is required to withhold therefrom. The Company may also reduce the amounts otherwise payable pursuant to Section 2(a) hereof to
satisfy the Executive’s required contributions for the insurance coverage being provided hereunder. 

6.    Termination and Amendment of Agreement. 

(a)    This Agreement shall be effective as of the Effective Date and shall expire on January 1, 2026, provided that
not later than nine months prior to the expiration of the term of this Agreement, the Company and the Executive shall review and discuss in good faith whether or not to renew, amend or replace the Agreement. If a Potential Change in Control occurs
during the term of the Agreement, then in no event shall the Agreement expire earlier than the date such Potential Change in Control terminates without resulting in a Change in Control, and if a Change in Control occurs during the term of the
Agreement, then in no event shall the Agreement expire earlier than the 24-month anniversary of such Change in Control. Notwithstanding the foregoing, any expiration or termination of this Agreement shall not
retroactively impair or otherwise adversely affect the rights of the Executive which have arisen prior to the date of such expiration. 

  
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 (b)    No provision of this Agreement may be amended, modified or waived
unless such amendment, modification or waiver is agreed to in writing and signed by the Executive and by a duly authorized officer of the Company; provided, however, that the Company may amend the Agreement in a manner that is beneficial to the
interests of the Executive without the Executive’s written consent. 
 7.    Scope of Agreement. Nothing in
this Agreement shall be deemed to entitle the Executive to continued employment with the Company or its subsidiaries or any of their respective Affiliates. Any amount paid pursuant to Section 2 shall be paid in lieu of any other amount of
severance relating to salary, incentive compensation or other bonus continuation to be received by the Executive from the Company or its Affiliates upon termination of employment of the Executive under any employment, employee benefit or severance
plan or agreement, policy or similar arrangement of the Company or its Affiliates in effect as of the date hereof; provided, however, that nothing in this Section 7 shall affect the Executive’s rights with respect to any equity ownership
interest in the Company. If the Company or any of its Affiliates are obligated by law to pay severance pay, notice pay or other similar benefits, or if the Company or any of its Affiliates are obligated by law to provide advance notice of separation
(“Notice Period”), then the payments made pursuant to Section 2 shall be reduced by the amount of any such severance, notice pay or other similar benefits, as applicable, and by the amount of any severance pay, notice pay or
other similar benefits received during any Notice Period. 
 8.    Successors; Binding Agreement. 

(a)    This Agreement shall not be terminated by any merger or consolidation of the Company whereby the Company is or is
not the surviving or resulting corporation or as a result of any transfer of all or substantially all of the assets of the Company. In the event of any such merger, consolidation or transfer of assets, the provisions of this Agreement shall be
binding upon the surviving or resulting corporation or the person or entity to which such assets are transferred. In the event of the consummation of a transaction initiated by the Company involving the formation of a direct or indirect holding
company of the Company for any internal legal or business purpose in which the holders of the outstanding voting securities of the Company become the holders of the outstanding voting securities of such holding company in substantially the same
proportions, the provisions of this Agreement shall be binding upon such holding company. 
 (b)    The Company agrees
that concurrently with any merger, consolidation or transfer of assets referred to in Section 8(a), it will cause any successor or transferee unconditionally to assume, by written instrument delivered to the Executive (or the Executive’s
beneficiary or estate), all of the obligations of the Company hereunder. Failure of the Company to obtain such assumption prior to the effectiveness of any such merger, consolidation or transfer of assets shall be a breach of this Agreement and, if
such merger, consolidation or transfer of assets is a “change in control event” within the meaning of Section 409A of the Code, shall entitle the Executive to compensation and other benefits from the Company in the same amount and on
the same terms as the Executive would be entitled hereunder if the Executive’s employment were terminated by reason of a Qualifying Termination. For purposes of implementing the foregoing, the date on which any such merger, consolidation or
transfer becomes effective shall be deemed the Date of Termination. 

  
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 (c)    This Agreement shall inure to the benefit of and be enforceable
by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amounts would be payable to the Executive hereunder had the Executive
continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to such person or persons appointed in writing by the Executive to receive such amounts or, if no person is so
appointed, to the Executive’s estate. 
 9.    Section 409A Compliance. This Agreement shall be interpreted
and construed in a manner that avoids the imposition of additional taxes and penalties under Section 409A of the Code (“409A Penalties”), and all payments under the Agreement are subject to the terms of the policy established
by the Company pursuant to Section 409A of the Code. In the event the terms of this Agreement would subject the Executive to 409A Penalties, the Company and the Executive shall cooperate diligently to amend the terms of the Agreement to avoid
such 409A Penalties, to the extent possible, without adversely affecting the intended benefits hereunder. Notwithstanding any other provision in this Agreement, if on the Date of Termination (a) the Company is a publicly traded corporation and
(b) the Executive is a “specified employee,” as defined in Section 409A of the Code, then to the extent any amount payable under this Agreement constitutes the payment of nonqualified deferred compensation, within the meaning of
Section 409A of the Code, that under the terms of this Agreement would be payable prior to the six-month anniversary of the Date of Termination, such payment shall be delayed until the earlier to occur of
(i) the six-month anniversary of the Date of Termination or (ii) the date of the Executive’s death. 

10.    Notices. (a) For purposes of this Agreement, all notices and other communications required or permitted
hereunder shall be in writing and shall be deemed to have been duly given when delivered or five days after deposit in the United States mail, certified and return receipt requested, postage prepaid, addressed (i) if to the Executive, to the
home address of the Executive on the most current Company records and if to the Company, to CDW Corporation, 200 North Milwaukee Avenue, Vernon Hills, IL 60061. attention General Counsel, or (ii) to such other address as either party may have
furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

(b)    A written notice of the Executive’s Date of Termination by the Company or the Executive, as the case may be,
to the other, shall (i) indicate the specific provision in this Agreement applicable to such termination, if any, (ii) to the extent applicable, set forth in reasonable detail the facts and circumstances claimed to provide a basis for the
application of such provision to the termination of the Executive’s employment and (iii) specify the termination date (which date shall be not less than 30 days after the giving of such notice, unless the Company determines, in its sole
discretion, that Executive’s Date of Termination shall be less than 30 days following a written notice provided by the Executive). The failure by the Executive or the Company to set forth in such notice any fact or circumstance which
contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company hereunder or preclude the Executive or the Company from asserting such fact or circumstance in enforcing the Executive’s or the
Company’s rights hereunder. 

  
 11 

 11.    Full Settlement; Resolution of Disputes. (a) The
Company’s obligation to make any payments provided for in Section 2 of this Agreement and otherwise to perform its obligations thereunder shall not be affected by any set-off, counterclaim,
recoupment, defense or other claim, right or action which the Company may have against the Executive or others, except as provided in Section 2(c) or Section 13. In no event shall the Executive be obligated to seek other employment or take
any other action by way of mitigation of the amounts payable to the Executive under the provisions of Section 2 of this Agreement and such amounts shall not be reduced whether or not the Executive obtains other employment, except as provided in
Section 2(c). 
 (b)    Any dispute or controversy between the Company and the Executive arising out of or relating
to this Agreement or the breach of this Agreement shall be settled by arbitration administered by the American Arbitration Association (“AAA”) in accordance with its Commercial Arbitration Rules then in effect, and judgment on the
award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Any arbitration shall be held before a single arbitrator who shall be selected by the mutual agreement of the Company and the Executive, unless the parties are
unable to agree to an arbitrator, in which case the arbitrator will be selected under the procedures of the AAA. In connection with the appointment of an arbitrator, the AAA will give the parties a list of no less than 15 potential arbitrators to
strike and number in order of preference in accordance with AAA procedures. The arbitrator shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, the
issuance of an injunction. However, either party may, without inconsistency with this arbitration provision, apply to any court otherwise having jurisdiction over such dispute or controversy and seek interim provisional, injunctive or other
equitable relief until the arbitration award is rendered or the controversy is otherwise resolved. Except as necessary in court proceedings to enforce this arbitration provision or an award rendered hereunder, or to obtain interim relief, neither a
party nor an arbitrator may disclose the existence, content or results of any arbitration hereunder without the prior written consent of the Company and the Executive. The Company and the Executive acknowledge that this Agreement evidences a
transaction involving interstate commerce. Notwithstanding any choice of law provision included in this Agreement, the United States Federal Arbitration Act shall govern the interpretation and enforcement of this arbitration provision. The
arbitration proceeding shall be conducted in Chicago, Illinois or such other location to which the parties may agree. The Company shall pay the costs of any arbitrator appointed hereunder. 

(c)    If a claim or dispute arises after a Change in Control concerning the rights of the Executive under this Agreement,
regardless of the party by whom such claim or dispute is initiated, the Company shall pay all legal expenses, including reasonable attorneys’ fees, court costs, and ordinary and necessary out-of-pocket costs of attorneys, billed to and payable by the Executive, in connection with the bringing, prosecuting, defending, litigating, negotiating, or settling such claim or dispute; provided
that if the Executive does not prevail on at least one material claim in connection with such claim or dispute, the Executive’s right to such payments shall cease and the Executive shall be required to return any amounts advanced by the Company
pursuant to this Section 11(c). For purposes of complying with the requirements of Section 409A of the Code, (i) the right of the Executive to reimbursement pursuant to this Section 11(c) shall apply until the tenth anniversary
of the Date of Termination, (ii) the amount of expenses eligible for reimbursement during a calendar year shall not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an expense must be
paid to the Executive on or before the last day of the calendar year following the calendar year in which the expense was incurred and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit. 

  
 12 

 12.    Employment with Affiliates. Employment with the Company
for purposes of this Agreement shall include employment with any Affiliate of the Company. 
 13.    Clawback
Policy. Notwithstanding anything to the contrary herein, all incentive compensation paid to the Executive in connection with the Executive’s employment with the Company shall be subject to forfeiture, recovery by Company or other action
pursuant to any clawback or recoupment policy which the Company may adopt from time to time to the extent the Board determines in good faith that the adoption and maintenance of such policy is necessary to comply with the Dodd-Frank Wall Street
Reform and Consumer Protection Act and implementing rules and regulations thereunder, or is otherwise required by applicable law. 

14.    Governing Law; Validity. The interpretation, construction and performance of this Agreement shall be
governed by and construed and enforced in accordance with the internal laws of the State of Delaware without regard to the principle of conflicts of laws. The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provisions of this Agreement, which other provisions shall remain in full force and effect. 

15.    Counterparts. This Agreement may be executed in two counterparts, each of which shall be deemed to be an
original and both of which together shall constitute one and the same instrument. 
 16.    Joint and Several
Obligation. Each of the Company and CDW LLC shall be jointly and severally liable for the payments and obligations provided to Executive under this Agreement. 

17.    Miscellaneous. No provision of this Agreement may be modified or waived unless such modification or waiver
is agreed to in writing and signed by the Executive and by a duly authorized officer of the Company and CDW LLC. This Agreement constitutes the entire agreement among the parties hereto on the subject manner hereof, and shall supersede all other
agreements or arrangements relating to the subject manner hereof. No waiver by any party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other
party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Failure by the Executive or the Company to insist upon strict compliance with any provision of this Agreement or to
assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason, shall not be deemed to be a waiver of such provision or right or any other provision
or right of this Agreement. Except as otherwise expressly set forth in this Agreement or in any agreement with respect to any equity ownership interest in the Company owned by the Executive, the rights of, and benefits payable to, the Executive, the
Executive’s estate or the Executive’s beneficiaries pursuant to this Agreement are in addition to any rights against, or benefits payable by, third parties (i.e. Persons other than the Company or any of its Affiliates), to the Executive,
the Executive’s estate or the Executive’s beneficiaries under any other employee benefit plan or program of the Company. 

  
 13 

 IN WITNESS WHEREOF, the Company and CDW LLC have caused this Agreement to be executed by a
duly authorized officer and the Executive has executed this Agreement effective as of the day and year first above written. 
  

			
	CDW CORPORATION
		
	By:	 	  

		 	Christine A. Leahy, President and Chief
Executive Officer5

 
			
	
	CDW LLC
		
	By:	 	  

		 	Christine A. Leahy, President and Chief
Executive Officer5

 
			
	
	EXECUTIVE
	
	  

	[Executive’s Name]

   

 

	5	 [Compensation Protection Agreement with Christine Leahy to be signed by the Senior Vice President, General
Counsel and Corporate Secretary.] 

  
 14ex_446514.htm

Exhibit 10.1

 

CONVERTIBLE PROMISSORY NOTE PURCHASE AGREEMENT

 

 

This Convertible Promissory Note Purchase Agreement ("Agreement") is made and effective the October 6th, 2022,

 

	
			BETWEEN:

				
			Fuse Group Holding Inc. (the "Company"), a corporation organized and existing under the laws of the Nevada, with its head office located at:

			
	 	 
	 	
			805 W. Duarte Rd. Suite 102 Arcadia CA 91007

			
	 	 
	
			AND:

				
			The purchaser is identified on the signature pages hereto (“Purchaser”).

			
	 	 

 

WHEREAS, Purchaser desires to purchase from the Company note in the aggregate sum of Fifty Thousand Dollars USD ($50,000) be evidenced by a 3% Convertible Promissory Note.

 

In consideration of the mutual covenants and conditions herein contained, the parties hereby agree, represent and warrant as follows:

 

	 	
			1.

				
			ISSUE OF NOTE

			

 

	 	
			a.

				
			The Company will authorize the issue of its 3% Convertible Promissory Note (hereinafter called "Note") to the Purchaser in the aggregate principal amount of $50,000 to be dated on October 6th, 2022 to mature on that is twenty-four (24) months after the Purchase Price Date, as defined in the Note, to bear interest on the unpaid principal thereof at the rate of 3% per annum until maturity, payable on October 6th of 2023 and 2024, respectively, commencing on Purchase Price Date, and after maturity at the rate of 3% per annum until Note are fully paid, and to be substantially in the form of Exhibit A attached hereto.

			

 

	 	
			b.

				
			For the purposes of calculating interest for any period for which the interest shall be payable, such interest shall be calculated on the basis of a 365-day year. The Company will promptly and punctually pay to Note Holder (the “Holder”) the interest on the Note held by Holder without presentment of the original copy of the Note. In the event that any of the Holder shall sell or transfer the Note, it shall notify the Company of the name and address of the transferee and send the assignment notice to the Company for approval. In the event the Company defaults on any installment of interest or principal of any Note and fails to cure such defaults within 90 days after the written notice from the Holder of the Note, then the Holder, at its option, may declare the entire principal and the interest accrued thereon for such Note immediately due and payable and may proceed to enforce the collection thereof.

			

 

	 	
			c.

				
			The Company will also authorize and reserve sufficient shares of its common stock (hereinafter called "Shares") as may be required for issuance upon conversion of the Note pursuant to the conversion terms hereinafter stated.

			

 

	 	
			d.

				
			The Purchaser has the right at any time after the date of this Agreement until the outstanding balance has been paid in full, at its election, to convert (“Conversion”) all or any portion of the outstanding balance of the Note into shares of Common Stock of the Company. Conversion notices in the form attached the Note (each, a “Conversion Notice”) may be effectively delivered to the Company by any method set forth in the “Notices” Section of this Agreement. The Company shall deliver the conversion shares from any conversion to Holder in accordance with the Note. Subject to adjustment as set forth in this Agreement, the price at which the Purchaser has the right to convert all or any portion of the outstanding balance into Common Stock of the Company is $0.45 per share of Common Stock (the “Conversion Price”).

			

 

	 	
			2.

				
			SALE AND PURCHASE OF NOTE

			

 

The Company will sell the Note to the Purchaser listed on the signature pages of this Agreement, the Purchaser agrees to purchase the principal amount of the Note set opposite his/her/its name, subject to the terms and conditions hereof and in reliance upon the representations and warranties of the Company contained herein, at the purchase price of 100% of the principal amount.

 

 

 

 

	 	
			3.

				
			REPRESENTATIONS AND WARRANTIES BY THE COMPANY

			

 

	 	
			a.

				
			Company is a corporation duly organized and existing in good standing under the laws of the State of Nevada has the corporate power to carry on in the business as it is now being conducted.

			

 

	 	
			b.

				
			The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and Note and otherwise to carry out its obligations hereunder and thereunder.

			

 

	 	
			c.

				
			There is no action or proceeding pending or, to the knowledge of the Company, threatened against the Company before any court or administrative agency, the determination of which might result in any material adverse change in the business of the Company.

			

 

	 	
			d.

				
			The Company is not a party to any contract or agreement or subject to any restriction which materially and adversely affects its business, property or assets, or financial condition, and neither the execution nor delivery of this Agreement, nor the confirmation of the transactions contemplated herein, nor the fulfillment of the terms hereof, nor the compliance with the terms and provisions hereof and of the Note, will conflict with or result in the breach of the terms, conditions or provisions or constitute a default, under the Articles of Incorporation of the Company or of any Agreement or instrument to which the Company is now a party.

			

 

	 	
			e.

				
			The Company has not declared, set aside, paid or made any dividend or other distributions with respect to its capital stock and has not made or caused to be made directly or indirectly, any payment or other distribution of any nature whatsoever to any of the holders of its capital stock except for regular salary payments for services rendered and the reimbursement of business expenses.

			

 

	 	
			f.

				
			There are no outstanding options or rights to purchase shares of the Company and no outstanding securities with the right of conversion into shares of the Company.

			

 

	 	
			g.

				
			The Company owns or possesses adequate licenses or other rights to use, all patents, trademarks, trade names, trade secrets, and copyrights used in its business. No one has asserted to the Company that its operations infringe on the patents, trademarks, trade secrets or other rights utilized in the operation of its business.

			

 

	 	
			h.

				
			The Company is not, and is not an affiliate of, and immediately after receipt of payment for the Note, will not be or be an affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

			

 

	 	
			4.

				
			REPRESENTATIONS AND WARRANTIES BY THE PURCHASER

			

 

The Purchaser represents and warrants that:

 

	 	
			a.

				
			The Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and performance by the Purchaser of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of the Purchaser. This Agreement has been duly executed by the Purchaser, and when delivered by the Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms.

			

 

	 	
			b.

				
			The Purchaser is acquiring the Note for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of the Note or Shares (this representation and warranty not limiting the Purchaser’s right to sell the Note and Shares in compliance with applicable federal and state securities laws). The Purchaser is acquiring the Note as principal, not as nominee or agent, and not with a view to or for distributing or reselling the Note or Shares or any part thereof in violation of the Securities Act or any applicable state securities law.

			

 

 

 

 

	 	
			c.

				
			The Purchaser is a non-U.S. person (as such term is defined in Rule 902 of Regulation S under the Securities Act) and is not acquiring the Note for the account or benefit of a U.S. person. The Purchaser will not, within one year of the date of the issuance of Note or the Shares to the Purchaser, (i) make any offers or sales of the Note or Shares in the United States or to, or for the benefit of, a U.S. person (in each case, as defined in Regulation S) other than in accordance with Regulation S or another exemption from the registration requirements of the Securities Act, or (ii) engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act. Neither the Purchaser nor any of the Purchaser’s affiliates or any person acting on his/her or their behalf has engaged or will engage in directed selling efforts (within the meaning of Regulation S) with respect to the Note or Shares, and all such persons have complied and will comply with the offering restriction requirements of Regulation S in connection with the offering of the Note or Shares outside of the United States.

			

 

	 	
			d.

				
			The Purchaser, either alone or together with his/her/its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Note, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an investment in the Note or the Shares and, at the present time, is able to afford a complete loss of such investment.

			

 

	 	
			e.

				
			The Purchaser has a net worth in excess of $1,000,000 exclusive of its/his/her residences and that the Purchaser is an “accredited investor” as defined in Rule 501(a) under the Securities Act at the time the Purchaser was offered the Note and as of the date hereof.

			

 

	 	
			f.

				
			The Purchaser hereby represents that he/she/it has satisfied his/her/itself as to the full observance by the Purchaser of the laws of the jurisdictions applicable to the Purchaser in connection with the purchase of the Note or the execution and delivery by the Purchaser. The Purchaser’s subscription and payment for, and continued beneficial ownership of, the Note or the Shares will not violate any securities or other laws of the Purchaser’s jurisdiction applicable to the Purchaser.

			 

			
	 	
			g.

				
			The Purchaser understands that the Note or the Shares have not been, and will not be, registered under the Securities Act or applicable securities laws of any state or country and therefore the Note or the Shares cannot be sold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and applicable state securities laws or exemptions from such registration requirements are available. The Company shall be under no obligation to register the Note or Shares under the Securities Act and applicable state securities laws, and any such registration shall be in the Company’s sole discretion.

			

 

	 	
			h.

				
			The Purchaser acknowledges that he/she/it has had the opportunity to review the information of the Company and the SEC reports filed by the Company and has been afforded (i) the opportunity to ask such questions as he/she/it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Note and the merits and risks of investing in the Note; (ii) access to information about the Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate his/her/its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.

			

 

	 	
			i.

				
			The Purchaser is not purchasing the Note as a result of any advertisement, article, notice or other communication regarding the Note published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

			

 

 

 

 

	 	
			5.

				
			CONVERSION

			

 

	 	
			a.

				
			Upon conversion of the Note, all accrued and unpaid interest on the principal amount converted shall be paid in cash to the Holder by the Company.

			

 

	 	
			b.

				
			In case the Company shall at any time divide its outstanding shares of Common Stock of the Company (“Common Stock”) into a greater number of shares, the conversion price in effect immediately prior to such subdivision should be proportionately reduced, and, conversely, in the case of outstanding shares of Common Stock of the Company shall be combined into a smaller number of shares, the actual conversion price in effect immediately prior to such combination shall be proportionately increased.

			

 

	 	
			c.

				
			No fractional share of Common Stock shall be issued upon conversion of the Note. If the Holder of the Note shall have converted all the Note held by him/her/it other than a principal amount so small that less than a whole share of Common Stock would be issuable upon conversion thereof, the Company may elect to prepay such balance, with interest accrued thereon to the date fixed for prepayment or leave the same outstanding until the maturity of the Note.

			

 

	 	
			d.

				
			In any reclassification of outstanding shares of Common Stock (other than a change in stated value or from no par to par value) or in the case of any consolidation or merger of the Company with any other company and the other company will be the surviving company, the Company shall place a condition precedent to such transaction, so that the Holder of the Note then outstanding shall have the right thereafter to convert his/her/its Note into the corresponding amount of shares and other securities upon such reclassification, consolidation or merger as if the Note had been converted immediately prior to such reclassification, consolidation or merger.

			

 

	 	
			6.

				
			COVENANTS

			

 

	 	
			a.

				
			The Company covenants that so long as the Note is outstanding, it will deliver to the Holder thereof as soon as practical, the quarterly or annual report of the Company filed with SEC including consolidated financial statements. The public filing with SEC shall be considered that such report has been delivered to the Holder.

			

 

	 	
			b.

				
			The Company covenants that, so long as any of the Note is outstanding, it will permit the Holder of the Note to visit and inspect, at the Holder's expense, any of the property of the Company, including its books and records, and to discuss affairs, finances and accounts with its officers, provided such visit should be in normal business hours with reasonable advance notice. The Holder agrees that it will keep any business information of the Company in confidence and will not trade the Company’s shares when it has any material non-public information of the Company.

			

 

	 	
			c.

				
			The Company covenants that, without the written consent of the Holder of the Note, it will not:

			

 

    Create or suffer to exist any mortgage, pledge, encumbrance, lien or charge of any kind on any of its properties or assets, whether now owned or hereafter acquired except for (i) mortgages, encumbrances, liens or charges which are now in existence; (ii) mortgages, liens, charges and encumbrances (a) for taxes, assessments or governmental charges or levies on property of the Company if the same shall not be due or delinquent or thereafter can be paid without penalty, or being contested in good faith and by appropriate proceedings; (b) of mechanics and materials for sums not yet due or being contested in good faith and by appropriate proceedings; or (c) in connection with workers' compensation, unemployment insurance and other state employment legislation.

 

 

	 	
			6.

				
			EVENT OF DEFAULT

			

 

	 	
			a.

				
			The default on any installment payment of interest or principal of any Note and fails to cure such default within 90 days after the written notice from the Holder of the Note will be considered as an event of default. The Holder of the Note may, at its option, declare the entire principal and interest accrued thereon immediately due and payable and may proceed with collection due to such event of default.

			

 

 

 

 

	 	
			b.

				
			If the Company has made a material misrepresentation in connection with this Agreement or with the transactions contemplated by this Agreement, or if any proceeding involving the Company is commenced under any receivership, bankruptcy, insolvency, such event shall be deemed a default which will immediately entitled Holder of the Note, at its option and without notice, to declare the entire amount of interest accrued thereon immediately due and payable and proceed to enforce the collection thereof.

			

 

	 	
			7.

				
			MISCELLANEOUS

			

 

	 	
			a.

				
			Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto at or prior to 5:30 p.m. (California time) on a business day, (b) the next business day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto on a day that is not a business day or later than 5:30 p.m. (California time) on any business day, (c) the second (2nd) business day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

			
	 	
			b.

				
			This Agreement may not be modified, amended or terminated except by written agreement executed by all the parties hereto.

			

 

	 	
			c.

				
			The waiver of any breach or default hereunder shall not be considered valid unless in writing and signed by the party such waiver is sought and no waiver shall be deemed a waiver of any subsequent breach or default of same.

			

 

	 	
			d.

				
			The paragraph headings contained herein are for the purpose of convenience only and are not intended to define or limit the contents of such.

			

 

	 	
			e.

				
			The validity, construction, interpretation and enforceability of this Agreement and the Note executed pursuant to this Agreement shall be determined and governed by the laws of the State of California. Any disputes that arise under this Agreement, shall be heard only in the state or federal courts located in the City of Los Angeles, State of California.

			

 

	 	
			f.

				
			This Agreement may be executed in one or more counterparts, each of which shall be deemed an original.

			

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Convertible Promissory Note Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

 

 

	
			FUSE GROUP HOLDING INC.  

				
			Address for Notice:

			

 

	 	 	 
	
			By:

				
			/s/Umesh Patel

				
			Fax:

			
	 	
			Name: Umesh Patel

			Title: Chief Executive Officer

				
			E-mail:

			

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

 

 

 

[PURCHASER SIGNATURE PAGE TO CONVERTIBLE PROMISSORY NOTE PURCHASE AGREEMENT]

 

 

IN WITNESS WHEREOF, the undersigned have caused this Convertible Promissory Note Purchase Agreement to be duly executed by its respective authorized signatory as of the date first indicated above.

 

Name of Purchaser: Liu Marketing (M) SDN BHD

 

Signature of Authorized Signatory of Purchaser: /s/Liu Jun                                

 

Name of Authorized Signatory: Mr. Liu Jun

 

Title of Authorized Signatory: CEO

 

Email Address of Authorized Signatory:

 

Facsimile Number of Authorized Signatory:

 

 

Address for Notice to Purchaser: Kuala Lumpur, Malaysia

 

 

Address for Delivery of Note to Purchaser (if not same as address for notice):

 

Subscription Amount: $50,000 

 

 

EIN Number: (Malaysia Taxpayer Identification Number)

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