Document:

Exhibit
10.14

 

“Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) the type that the registrant treats as private or confidential.”

 

Executive
Service Agreement

  

 

 

 

Gelteq
Pty Ltd 

 

 

 

and

 

 

 

Nathan
Jacob Givoni 

 

 

 

 

    

     

    

 

Table
of Contents

 

	1.	Parties	1
	2.	Purpose and Intent	1
	3.	Definitions and interpretation	1
	4.	Appointment	5
	5.	Executive’s duties	5
	6.	Location and Travel	6
	7.	Total Remuneration Cost	6
	8.	Company Property	8
	9.	Superannuation	8
	10.	Other entitlements	8
	11.	Annual Leave	9
	12.	Personal Leave	10
	13.	Compassionate Leave	11
	14.	Parental Leave	11
	15.	Community Service Leave	11
	16.	Jury Service	11
	17.	Long Service Leave	11
	18.	Public Holidays	11
	19.	National Employment Standards	11
	20.	Intellectual Property	11
	21.	Moral rights	12
	22.	Media contact	12
	23.	Warranties	13
	24.	Confidentiality	13
	25.	Exclusive Employment and Restraint	14
	26.	Termination	15
	27.	Assignment	18
	28.	Amendment	18
	29.	Waiver	18
	30.	Approval or consent	19
	31.	Counterparts	19
	32.	Additional obligations	19
	33.	Operation and Severability	19
	34.	Further Steps	19
	35.	Entire agreement	19
	36.	Governing law and jurisdiction	19
	Signing Page	20

 

    i 

     

    

 

Dated:
28/4/2022

 

		1.	Parties

 

Gelteq
Pty Ltd (Company)

Level
7, 612-616 St Kilda Road,

Melbourne
VIC 3004 and

 

Nathan
Jacob Givoni (Executive)

		[*****]	

		[*****]	

 

		2.	Purpose
                                            and Intent

 

The
Executive is employed by the Company to perform the role set out in Item 1 of the Schedule (Position).

 

The
Company and the Executive have agreed to enter into this agreement to set out the terms and conditions of the Executive’s employment.

 

The
parties agree: 

 

	3.	Definitions
                                            and interpretation

 

		3.1	Definitions

 

In
this agreement:

 

Associated
Entity has the meaning given in section 50AAA of the Corporations Act.

 

Board
means the Board of Directors of the Company as constituted from time to time.

 

Business
means the business carried on by the Company, namely the business of developing and commercializing white label gel-based delivery
solutions for prescription drugs, nutraceuticals, pet care and other products.

 

Business
Day means a working-week day, i.e. a day that is not a Saturday, Sunday or public holiday in the State where the Executive is based.

 

Client
means:

 

		(a)	any
                                            client of the Company with whom the Executive had direct business dealings during the last
                                            12 months of the Executive’s employment;

 

		(b)	a
                                            prospective client with whom the Company has held discussions, with a view to securing its
                                            business, and with whom the Executive had direct business dealings during the last 6 months
                                            of the Executive’s employment.

 

Commencement
Date means the date set out in Item 2 of the Schedule or any other date that the parties agree in writing.

 

    1 

     

    

 

Company
may also refer to the Group or a member of the Group.

 

Confidential
Information means all Information designated as confidential by the Company and disclosed to or acquired by the Executive before
or after the date of this agreement, whether by oral, written or electronic means, but does not include Information that:

 

		(a)	the
                                            Executive can prove was in their lawful possession before the Company had any dealings with
                                            the Executive or was independently generated by the Executive or on their own behalf;

 

		(b)	is
                                            in the public domain, otherwise than as a result of a breach of obligation of confidentiality
                                            owed to the Company; or

 

		(c)	was
                                            legally and properly obtained by the Executive from any other source without restriction
                                            on further disclosure.

 

Corporations
Act means the Corporations Act 2001 (Cth).

 

Documentation
means any document or material regardless of the form that contains, refers to or stores Information.

 

Duties
includes the duties and responsibilities of the Position as set out in Item 3 of the Schedule or as determined by the Company
from time to time.

 

Engage
in or engaged means to participate, assist or otherwise be directly or indirectly involved, concerned or interested as a corporate
member, shareholder, unit holder, director, consultant, adviser, contractor, principal, agent, manager, executive, beneficiary, partner,
practitioner, associate trustee, investor, financier, fiduciary or in any other capacity.

 

FBT
means Fringe Benefits Tax imposed under the Fringe Benefits Tax Assessment Act 1986 (Cth) as in place from time to time.

 

Group
means:

 

		(a)	the
                                            Company;

 

		(b)	any
                                            Related Body Corporate or Associated Entity of the Company; and

 

		(c)	any
                                            entity in which the Company or any of its Related Bodies Corporate has a direct or indirect
                                            interest (including through a trusteeship).

 

Information
means information regardless of form relating to or developed in connection with the Company, the Group or the Business including
financial affairs, projections, forecasts, accounts, prospects, strategies, business plans, processes and system functionality, operations,
inventory, assets, liabilities, market intelligence, customers, employees, suppliers, contracts, products and sales information.

 

Immediate
Family means:

 

		(a)	the
                                            spouse (including former spouse), de facto partner (including former de facto partner), child,
                                            parent, grandparent, grandchild or sibling of the Executive; or

 

		(b)	the
                                            child, parent, grandparent, grandchild or sibling of the spouse or de facto partner of the
                                            Executive.

 

    2 

     

    

 

Intellectual
Property includes trademarks, copyright, patents, designs, whether existing now or in the future and whether or not registered or
registrable and includes any rights subsisting in or relating to trade secrets, know how, inventions, discoveries, geographical indications
of origin, circuit layouts, programming tools, object code, source code, methods, techniques, formulae, algorithms, modules, libraries
and databases and includes the right to apply for the registration or grant of any intellectual property.

 

LTI
mean Long Term Incentive

 

National
Employment Standards means the minimum employment terms and conditions contained in Part 2-2 of the Fair Work Act 2009 (Cth).

 

Personnel
means:

 

		(a)	any
                                            consultant or contractor to the Company with whom the Executive had business dealings during
                                            the last 12 months of the Executive’s employment;

 

		(b)	any
                                            employee of the Company with whom the Executive had business dealings during the last 12
                                            months of the Executive’s employment.

 

Related
Body Corporate has the meaning given in section 50 of the Corporations Act.

 

Restraint
Area means the area of:

 

		(a)	Australia;

 

		(b)	each
                                            State and Territory in Australia in which the Executive had business dealings regarding the
                                            Company during the last 12 months of his employment;

 

		(c)	the
                                            State where the Executive was based as at the date of cessation of his employment;

 

		(d)	a
                                            radius of 50km from the location at which the Executive was based as at the date of cessation
                                            of his employment.

 

Restraint
Period means the period from the date of this agreement until:

 

		(a)	12
                                            months after the cessation of the Executive’s employment;

 

		(b)	16
                                            months after the cessation of the Executive’s employment;

 

		(c)	3
                                            months after the cessation of the Executive’s employment.

 

Restricted
Business means any business, company, firm, entity or endeavour that substantially competes with, or is engaged in activities that
are the same as, or similar to, the activities of the Company, the Business or a Group Company.

 

Salary
means the principal cash component of the Total Remuneration Cost which is regularly paid to the Executive under this agreement.

 

    3 

     

    

 

Similar
Role means any of the following:

 

		(a)	Chief
                                            Executive Officer;

 

		(b)	a
                                            role, the performance of which involves business dealings with a Client or a Supplier;

 

		(c)	a
                                            role, the performance of which involves dealing with information which is the same as, or
                                            similar to, the Confidential Information;

 

		(d)	a
                                            role which is the same as, or similar to, the Position.

 

STI
means Short Term Incentive.

 

Supplier
means:

 

		(a)	any
                                            supplier to the Company with whom the Executive had direct business dealings during the last
                                            12 months of the Executive’s employment;

 

		(b)	a
                                            prospective supplier with whom the Company has held discussions, with a view to securing
                                            a business relationship, and with whom the Executive had direct business dealings during
                                            the last 6 months of the Executive’s employment.

 

Total
Remuneration Cost (TRC) means the annual rate of regular or fixed salary, superannuation contribution and other benefits paid
to the Executive under this agreement, as set out in Item 4 of the Schedule. Where the Company incurs a Fringe Benefits Tax liability
in relation to benefits provided to the Executive, that Fringe Benefits Tax forms part of the TRC.

 

USD
means the United States Dollar.

 

Works
means any literary or artistic work or other subject matter protected under the Copyright Act 1968 (Cth).

 

		3.2	Interpretation

 

In
this agreement, headings are inserted for convenience only and do not affect the interpretation of this agreement.

 

Further,
unless the context otherwise requires:

 

		(a)	the
                                            singular includes the plural and vice versa;

 

		(b)	a
                                            gender includes the other gender;

 

		(c)	if
                                            a word or phrase is defined, its other grammatical forms have a corresponding meaning;

 

		(d)	the
                                            meaning of general words is not limited by specific examples introduced by ‘i.e.’,
                                            ‘includes’, ‘including’, ‘for example’, ’such as’
                                            or similar expressions.

 

		(e)	a
                                            reference to a document, including this agreement, is to the document or instrument as amended,
                                            varied, novated, supplemented or replaced from time to time;

 

		(f)	a
                                            party includes the party’s successors and permitted transferees and assigns and if
                                            a party is an individual, includes executors and personal legal representatives;

 

    4 

     

    

 

		(g)	a
                                            reference to a person includes an individual, a partnership, a corporation or other corporate
                                            body, a joint venture, a firm, a trust, an association (whether incorporated or not), a government
                                            and a statutory authority or agency;

 

		(h)	a
                                            reference to a statute, code or other law includes any regulations and other instruments
                                            under them and consolidations, amendments, re-enactments or replacements of any of them;

 

		(i)	all
                                            monetary amounts are in Australian dollars, unless otherwise stated and a reference to payment
                                            means payment in Australian dollars; and

 

		(j)	if
                                            the day on or by which something must be done is not a Business Day, that thing must be done
                                            on the next Business Day.

 

		4.	Appointment

 

The
Company has appointed the Executive to the Position with responsibility for the Duties and will continue to employ the Executive until
whenever the Executive’s employment is terminated under clause 26 of this agreement.

 

		5.	Executive’s
                                            duties

 

		5.1	Executive’s
                                            obligations 
	 	 	 
	 	The
                                            Executive must:

 

		(a)	undertake
                                            the Duties;

 

		(b)	exercise
                                            the powers, authorities and discretions appropriate to the roles and responsibilities that
                                            the Company or the Board may from time to time delegate, including working in any additional
                                            capacities or working within another organisation in the Group;

 

		(c)	conform
                                            to, observe and comply with the directions, restrictions and regulations of the Company made,
                                            given or authorised by the Board from time to time;

 

		(d)	faithfully
                                            serve the Company and use their best endeavours to promote the interests and reputation of
                                            the Company and the Group;

 

		(e)	work
                                            the hours necessary for the proper performance of the Duties;

 

		(f)	comply
                                            with the Company’s policies and procedures, including policies relating to occupational
                                            health and safety, email/internet use, diversity and equal opportunity, sexual harassment
                                            and anti-discrimination, as communicated by the Company from time to time. Notwithstanding,
                                            the Company’s policies and procedures do not form part of this agreement;

 

		(g)	comply
                                            with those policies and procedures of third parties that the Company is bound to comply with
                                            as communicated by the Company from time to time;

 

		(h)	not,
                                            without prior written consent of the Company, which will not be unreasonably withheld, accept
                                            any appointment as a director or other officer of any company, committee or not-for-profit
                                            organisation; and

 

		(i)	comply
                                            with all legal obligations to the Company that arise under the Corporations Act, common law
                                            and any other relevant legislation, ministerial directions and standards issued by government
                                            or other relevant authority that applies to the Company. 5.2 Reporting 

 

The
Executive will report directly to the Board.

 

    5 

     

    

 

		5.3	Hours

 

The
Executive’s ordinary hours of work will be 38 hours per week to be performed during the Company’s usual office hours, plus
any reasonable additional hours necessary for the Executive to properly perform the Duties.

 

		5.4	Continuing
                                            Employment

 

The
employment of the Executive by the Company will continue to be subject to the terms and conditions of this Agreement, unless varied or
replaced by an agreement in writing, despite any changes to the Position, Duties or Location.

 

		6.	Location
                                            and Travel

 

		6.1	Location

 

The
Executive’s principal place of work is set out in Item 5 of the Schedule or any other location as determined by the Company
from time to time.

 

		6.2	Travel

 

The
Executive may be required to undertake reasonable travel both interstate and overseas in order to complete the Duties. The Executive
must not refuse a reasonable obligation or request to travel. To the extent the Executive is required to utilise air travel for any businessrelated
activities and/or functions, the Executive will be afforded business class accommodations for any air travel that is scheduled to be
of three or more hours in duration.

 

		7.	Total
                                            Remuneration Cost

 

		7.1	Total
                                            Remuneration Cost

 

		(a)	The
                                            Company will provide the Executive with the benefits outlined in Item 4 Table 1 of
                                            the Schedule. These benefits constitute the Total Remuneration Cost (TRC).

 

		(b)	The
                                            Company will pay the Executive the Salary component of the TRC monthly in arrears into a
                                            bank account nominated by the Executive.

 

		(c)	The
                                            TRC includes all payments and benefits that the Company is legally obliged to provide, including
                                            the minimum statutory superannuation guarantee contribution.

 

		(d)	In
                                            the sole event that the Company becomes a publicly trading company on an international exchange
                                            (for example NASDAQ, ASX etc.), the Executive’s TRC will automatically increase in
                                            accordance with Item 4 Table 2 from the first monthly pay period of trading.

 

    6 

     

    

 

		7.2	High
                                            income guarantee

 

In
accordance with section 330 of the Fair Work Act 2009 (Cth) (FW Act), this agreement constitutes an undertaking by the
Company to pay the Executive a guarantee of annual earnings. As a result of this undertaking, if at any time the Executive’s employment
becomes covered by a modern award, that modern award will not apply to the Executive for the period when the Executive’s TRC (less
superannuation) exceeds the high income threshold.

 

		7.3	TRC
                                            includes benefits

 

To
the extent permitted by law, if any award or statutory entitlement requires the Company to provide the Executive with any benefit (including
payment for each hour worked, annual leave loading, pay period specifications, overtime and/or penalty rates, allowances or other applicable
conditions under any legislation, award, enterprise agreement or other industrial instrument) including superannuation, the Executive
agrees that:

 

		(a)	the
                                            TRC is specifically set off against, applied to and absorbs that benefit;

 

		(b)	that
                                            benefit forms part of the TRC;

 

		(c)	the
                                            TRC will not change; and

 

		(d)	without
                                            reducing the TRC, the Company may vary the Salary to incorporate that benefit.

 

		7.4	TRC
                                            includes hourly rate

 

The
Executive acknowledges that the Salary component of the TRC includes an hourly rate of pay for each hour worked, including reasonable
additional hours, that is equivalent to the necessary statutory minimum, and that it adequately compensates the Executive for all hours
worked.

 

		7.5	Structure
                                            of the TRC

 

The
Executive may structure the TRC by agreement with the Company, including being able to salary-sacrifice an amount of salary, provided
that the total cost to the Company of the TRC, inclusive of FBT, remains the same.

 

		7.6	Fringe
                                            Benefits Tax

 

The
Executive agrees that any FBT payable by the Company in relation to the Executive’s TRC will be deducted from any cash amounts
to be paid to the Executive under the TRC.

 

		7.7	Salary
                                            reviews

 

The
Company will review the TRC, usually on an annual basis. There is no guarantee that the TRC will be increased.

 

		7.8	Performance
                                            reviews

 

The
Company will formally review the Executive’s performance annually based on criteria agreed between the Executive and the Company.

 

    7 

     

    

 

		7.9	Director’s
                                            fees

 

If
the Executive is required, as a consequence of employment with the Company, to act as a Director of the Company or of a corporate member
of the Group, the Executive will not receive any compensation in addition to the TRC.

 

		8.	Company
                                            Property

 

		(a)	The
                                            Executive is required to take all reasonable care for the use of Company property (including
                                            but not limited to computers, motor vehicles, phones, cameras and books) and to protect any
                                            Company property in the Executive’s care.

 

		(b)	If
                                            Company property is lost, damaged or stolen due to careless or irresponsible actions of the
                                            Executive, the Executive will be responsible for the costs of replacement or repair of the
                                            property.

 

		9.	Superannuation

 

		9.1	Company
                                            superannuation contributions

 

The
Company will pay on the Executive’s behalf any superannuation contributions required to be paid under the Superannuation Guarantee
Charge Act 1992 (Cth), the Superannuation Guarantee (Administration) Act 1992 (Cth) or any other Acts, Regulations or Ordinances
that govern the payment of superannuation contributions for the Executive up to the maximum contribution base. These superannuation contributions
form part of the TRC and will be based on the Salary.

 

		9.2	Executive
                                            superannuation contributions

 

Under
clause 7.5, the Executive may make further individual superannuation contributions in addition to the superannuation contributions the
Company will make on behalf of the Executive.

 

		9.3	Superannuation
                                            scheme

 

Superannuation
contributions for or by the Executive will be paid to a superannuation fund nominated by the Executive.

 

		10.	Other
                                            entitlements

 

		10.1	Reimbursement
                                            of expenses

 

Following
the production of appropriate receipts, the Company will reimburse the Executive for any reasonable travelling, accommodation and general
expenses that the Executive incurs in performing the Duties, in accordance with the Company’s policies.

 

		10.2	Short
                                            Term Incentive

 

		a)	The
                                            Executive will be eligible to a discretionary STI), the details are as per Item 6 of the
                                            Schedule.

 

		b)	In
                                            exercising its discretion pursuant to clause 10.2(a), the Board will take into account the
                                            Executive’s performance in relation to key performance indicators established annually
                                            in consultation with the Executive and the Company’s performance. The decision of the
                                            Board as to whether, and the extent to which, key performance indicators have been met by
                                            the Executive is final and conclusive.

 

    8 

     

    

 

		c)	The
                                            Executive will be eligible to receive the STI benefit under this clause and Item 6 of the
                                            Schedule in relation to any performance year if, and only if, they are in the employ of the
                                            Company for that entire year and have not, prior to the expiry of that year, given or been
                                            given notice of termination of your employment.

 

However,
should the Executive’s employment cease under clause 26.2 or 26.3 within a performance year, the Executive will be considered for
an incentive under this clause on a pro-rata basis for that performance year.

 

		10.3	Long
                                            Term Incentive Scheme

 

The
Executive will be entitled to the value of 1.5% of the total ordinary shares of the Company as set out in the Employee Share Option Plan,
once established.

 

		10.4	Insurances

 

The
Company will pay for the Executive’s professional insurance, directors and officers insurance, and any other insurances the Board
deems necessary.

 

		11.	Annual
                                            Leave

 

		11.1	Amount
                                            of leave

 

The
Executive will be entitled to four weeks of annual leave for each year of service with the Company.

 

		11.2	Accrual
                                            of leave

 

The
Executive’s entitlement to annual leave accrues progressively during each year of service, and if not taken, accumulates from year
to year.

 

		11.3	Taking
                                            paid annual leave

 

		(a)	Annual
                                            leave shall be taken by the Executive on a periodical basis, at a time and for a period agreed
                                            between the Executive and the Company.

 

		(b)	All
                                            requests by the Executive to take annual leave must be authorised by the Board.

 

		11.4	Payment
                                            of annual leave

 

		(a)	If
                                            the Executive takes a period of annual leave, the Company will pay the Executive what the
                                            Executive would have been paid had the Executive worked during the period of annual leave
                                            taken.

 

		(b)	If,
                                            when the employment of the Executive ends, the Executive has a period of accrued annual leave,
                                            the Company will pay the Executive the amount that would have been payable to the Executive
                                            had the Executive taken that period of leave.

 

		(c)	Annual
                                            leave loading is not payable.

 

    9 

     

    

 

		11.5	Requirements
                                            to take paid annual leave

 

The
Company may require the Executive to take a period of annual leave:

 

		(a)	If
                                            the Company shuts down the office in which the Executive works for any reason, for example,
                                            the Christmas/New Year period. If the Executive does not have credited annual leave to cover
                                            the shut-down period, the Executive may be required to take unpaid leave; or

 

		(b)	In
                                            accordance with applicable legislation.

 

		12.	Personal
                                            Leave

 

		12.1	Entitlement
                                            to paid personal/carer’s leave

 

		(a)	The
                                            Executive is entitled to paid personal/carer’s leave:

 

		(i)	Because
                                            the Executive is not fit for work because of an illness or injury affecting the Executive;
                                            or

 

		(ii)	To
                                            provide care or support to a corporate member of the Executive’s Immediate Family,
                                            or a member of the Executive’s household, who requires care or support because of an:

 

		a.	Illness
                                            or injury affecting the member; or

 

		b.	Unexpected
                                            emergency affecting the member.

 

		(b)	The
                                            Executive will be entitled to ten days of paid personal/carer’s leave for each year
                                            of service with the Company.

 

		(c)	The
                                            Executive’s entitlement to take and accrue paid personal/carer’s leave is in
                                            accordance with the National Employment Standards or such statutory entitlements that exist
                                            from time to time.

 

		(d)	Accrued
                                            but untaken paid personal/carer’s leave is not payable on the termination of the employment
                                            of the Executive.

 

		(e)	The
                                            Executive may take unpaid carer’s leave in accordance with the National Employment
                                            Standards or such statutory entitlements that exist from time to time

 

		12.2	Notice

 

		(a)	In
                                            the event the Executive needs to take (or needed to take) personal/carer’s leave (paid
                                            or unpaid), the Executive must notify the Company as soon as practicable. The Executive should
                                            also provide the Board with an indication of when the Executive expects to return to work.

 

		(b)	The
                                            Company may require that the Executive submit a medical certificate or statutory declaration
                                            for any personal/carer’s leave that the Executive takes (paid or unpaid), in accordance
                                            with applicable legislation.

 

    10 

     

    

 

		13.	Compassionate
                                            Leave

 

The
Executive is entitled to compassionate leave in accordance with the National Employment Standards or such statutory entitlements that
exist from time to time.

 

		14.	Parental
                                            Leave

 

The
Executive will be entitled to parental leave (maternity, paternity or adoption leave) in accordance with applicable legislation.

 

		15.	Community
                                            Service Leave

 

The
Executive will be entitled to community service leave in accordance with applicable legislation.

 

		16.	Jury
                                            Service

 

		(a)	The
                                            Executive will be entitled to leave for jury service in accordance with applicable legislation.

 

		(b)	Where
                                            the Executive is required to attend for jury service (including attendance for jury selection)
                                            the Executive must notify the Company as soon as practicable of the expected absence and
                                            its likely duration.

 

		17.	Long
                                            Service Leave

 

The
Executive will be entitled to long service leave in accordance with applicable State legislation.

 

		18.	Public
                                            Holidays

 

		(a)	The
                                            Executive is entitled to all holidays gazetted as public holidays in Victoria without loss
                                            of pay where a public holiday falls on a day on which the Executive would normally be required
                                            to work.

 

		(b)	Despite
                                            clause 18(a), the Company can request the Executive to work on a public holiday and the Executive
                                            may refuse the request if the request is not reasonable or the refusal is reasonable.

 

		19.	National
                                            Employment Standards

 

Should
any term of this agreement be less favourable to the Executive than the National Employment Standards, the latter will prevail over the
term to the extent that the term is less favourable.

 

		20.	Intellectual
                                            Property

 

		20.1	Ownership
                                            of Intellectual Property

 

The
Company or corporate member of the Group, whichever is applicable, solely and exclusively owns any Intellectual Property that is developed,
conceived, created, discovered, produced or otherwise generated by the Executive, either individually or otherwise, during the course
of the Executive’s employment with the Company or a corporate member of the Group.

 

    11 

     

    

 

		20.2	Assignment
                                            of Intellectual Property

 

If
requested by the Company or corporate member of the Group, whichever is applicable, the Executive agrees to:

 

		(a)	Assign
                                            to the Company (where applicable and at the Company’s expense) or corporate member
                                            of the Group (where applicable and at the corporate member’s expense) any right, title
                                            and interest in and to any of the Intellectual Property referred to in clause

20.1;
and

 

		(b)	Do
                                            all things necessary to effect the assignment referred to in clause 20.2(a).

 

		21.	Moral
                                            rights

 

		21.1	Moral
                                            rights

 

The
Company acknowledges and agrees that the Executive may have the following rights in relation to Works of which the Executive is the author:

 

		(a)	Attribution
                                            of authorship;

 

		(b)	Not
                                            to have authorship falsely attributed; and

 

		(c)	Integrity
                                            of authorship.

 

		21.2	Consent

 

In
relation to all Works of which the Executive is author, the Executive consents to the Company or corporate member of the Group, whichever
is applicable, doing or failing to do anything which might otherwise infringe the rights referred to in clause 21.1.

 

		21.3	Consent
                                            is genuine

 

The
Executive confirms that the consent given in clause 21.2:

 

		(a)	Will
                                            continue after the Executive’s employment with the Company or the Group ceases; and

 

		(b)	Is
                                            given genuinely.

 

		22.	Media
                                            contact

 

The
Executive must not speak to or contact any branch of the media with regard to any matter affecting the Company or the Group without the
prior approval of the Board or in accordance with the Company’s prevailing media policy.

 

    12 

     

    

 

		23.	Warranties

 

The
Executive represents and warrants that:

 

		(a)	In
                                            accepting employment with the Company and performing duties under this agreement, the Executive
                                            will not be in violation of any obligations that he owes to any former employer;

 

		(b)	no
                                            conflict of interest exists or is likely to arise in the performance of the Executive’s
                                            duties under this agreement having regard to the nature of the Company’s business and
                                            any other interests the Executive may have or activities in which he may be involved in a
                                            business context. If during the executive’s employment a conflict or risk of conflict
                                            of interest arises, he must notify the Company in writing of that conflict of interest; and

 

		(c)	the
                                            Executive has read and understands this agreement, has not acted in reliance upon any representations
                                            or promises made by the Company other man those contained in this letter of appointment and
                                            has entered into this letter of appointment freely, based on his own judgment, whether or
                                            not you have consulted a lawyer.

 

		24.	Confidentiality

 

		24.1	Obligation
                                            of confidence

 

The
Executive must:

 

		(a)	Maintain
                                            the confidential nature of the Confidential Information;

 

		(b)	Not
                                            disclose, publish, part with the possession of or otherwise provide any Confidential Information
                                            to any person except under clause 24.2;

 

		(c)	Not
                                            use the Confidential Information for the Executive’s own advantage or to the competitive
                                            disadvantage of the Company; and

 

		(d)	Not
                                            copy or duplicate or allow the copying or duplication of any Confidential Information.

 

		24.2	Disclosure

 

The
obligations of confidence in clause 24.1 do not apply to the extent that the:

 

		(a)	Executive
                                            has a need to use the Confidential Information in the performance of Duties;

 

		(b)	Company
                                            has given the Executive prior written authorisation to disclose certain Confidential Information
                                            in particular circumstances; or

 

		(c)	Executive
                                            is required by law to disclose specific Confidential Information provided that the Company
                                            must be given reasonable prior notice by the Executive of any proposed disclosure.

 

		24.3	Security
                                            and control

 

The
Executive must:

 

		(a)	Take
                                            all reasonable proper and effective precautions to maintain the confidential nature of the
                                            Confidential Information; and

 

		(b)	Immediately
                                            notify the Company of any potential, suspected or actual unauthorised access, disclosure,
                                            copying or use or breach of clause 24.1.

 

    13 

     

    

 

		24.4	Return
                                            of Documentation

 

All
Documentation remains the sole and exclusive property of the Company. If the Executive’s employment is terminated for any reason
or the Company at any time requests it, the Executive must return to the Company or destroy all Documentation that is in the possession,
power or control of the Executive, as directed by the Company.

 

		24.5	No
                                            release

 

Return
or destruction of the Documentation and other material referred to in clause 24.4 does not release the Executive from the obligations
under this clause 24.

 

		25.	Exclusive
                                            Employment and Restraint

 

Unless
the Executive has the prior written consent of the Company, the Executive must work exclusively for the Company until his employment
ends.

 

The
Company expressly permits the Executive to perform the roles specified in Item 7 of the Schedule and waives the application of
clause 25 in its entirety in regard to those roles.

 

		25.1	Business
                                            interest and purpose of this clause

 

It
is expected that during the Executive’s employment, the Executive will:

 

		(a)	acquire
                                            a detailed knowledge of the Company’s business and methods of operation;

 

		(b)	become
                                            known to and develop a relationship with its Clients, Suppliers and Personnel; and

 

		(c)	be
                                            privy to the Company’s Intellectual Property and Confidential Information.

 

Each
of the matters referred to in subclauses 25.1(a), (b) and (c) is an important and valuable part of the Company’s business interests,
which it is important that the Company is able to protect. The purpose of this clause 25 is to protect those business interests.

 

		25.2	Restrictions

 

The
Executive accordingly agrees that the Executive must not, during the Restraint Period:

 

		(a)	in
                                            the Restraint Area, be engaged in a Similar Role for:

 

		(i)	a
                                            Restricted Business;

		(ii)	a
                                            Client;

		(iii)	a
                                            Supplier;

 

		(b)	interfere
                                            with or disrupt (or attempt to) the relationship contractual or otherwise between the Company
                                            and any:

 

		(i)	Client;

		(ii)	Supplier;

 

		(c)	approach,
                                            solicit or entice away (or attempt to) any Client;

 

    14 

     

    

 

		(d)	approach,
                                            solicit or entice away (or attempt to) any Supplier;

 

		(e)	approach,
                                            solicit, encourage or induce any Personnel to cease or otherwise terminate their engagement
                                            with the Company;

 

		(f)	counsel,
                                            procure or otherwise assist any person to do any of the actions set out in any of subclauses
                                            25.2(a), (b), (c), (d) or (e).

 

		25.3	Separate
                                            and Severable Restrictions

 

		(a)	The
                                            parties acknowledge and agree that the post-employment restrictions set out in:

 

		(i)	each
                                            of subparagraphs 25.2(a)(i), (ii) and (iii);

		(ii)	each
                                            of subparagraphs 25.2(b)(i) and (ii); and (iii) each of subclauses 25.2(c), (d), (e)
                                            and (f)

 

inclusive,
including their combination (where applicable) with the defined expressions set out in clause 3 will take effect as if each of the restrictions
are separate, severable and distinct restrictions regarding the time, area and nature of the conduct they proscribe.

 

		(b)	If
                                            any restriction so conceived according to clause 25.3(a) is held to be void, voidable or
                                            unenforceable in whole or part, the parties agree that the relevant subclause, subparagraph
                                            or part will be severed from the agreement and that the remainder of this clause 25 will
                                            continue to apply to the fullest possible extent.

 

		25.4	Acknowledgement

 

The
parties further acknowledge and agree, having regard to the purposes of this clause, that:

 

		(a)	each
                                            of the restrictions set out in clause 25.2 (conceived according to clause 25.3) are reasonable
                                            and necessary to protect the Company’s interests referred to in 25.1, and confer a
                                            benefit on the Company that is no more than reasonable and necessary to protect that interest;

 

		(b)	the
                                            salary and other benefits payable to the Executive under this agreement are generous, and
                                            provide sufficient and reasonable consideration to the Executive for the obligations imposed
                                            upon the Executive by this clause 25;

 

		(c)	any
                                            breach by you of this clause 25 has the capacity to provide substantial loss and harm the
                                            Company for which an award of damages or compensation may not be adequate; and

 

		(d)	the
                                            Company will be entitled to apply to a Court of law to seek an urgent injunctive relief,
                                            or any other relief, in the event of an actual or threatened breach by the Executive of this
                                            clause 25.

 

		26.	Termination

 

		26.1	Company’s
                                            right to terminate summarily

 

The
Company may terminate the employment of the Executive immediately and without notice, if the Executive:

 

		(a)	Becomes
                                            bankrupt or assigns his estate for the benefit of creditors or others;

 

		(b)	Is
                                            precluded from taking part in the management of a corporation by the provisions of the Corporations
                                            Act;

 

    15 

     

    

 

		(c)	Is
                                            charged or convicted of any offence involving fraud or dishonesty or any serious offence
                                            (except for a traffic offence) which is punishable by imprisonment (whether or not the Executive
                                            is imprisoned);

 

		(d)	Behaves
                                            inappropriately such that objectively the behaviour brings the name of the Company and/or
                                            the Executive into disrepute;

 

		(e)	Commits
                                            a serious or persistent breach or non-observance of this contract of employment;

 

		(f)	Fails
                                            to comply with a condition of their visa; or

 

		(g)	Does
                                            any act which justifies summary dismissal at common law.

 

		26.2	Company’s
                                            right to terminate on notice

 

The
Company may terminate the employment of the Executive at any time and for any reason, in which case the Company will provide to the Executive
written notice of termination of twelve months’ notice, or the minimum entitlements contained in the National Employment Standards
– whichever is greater.

 

The
Executive agrees that, on termination of employment for any reason, the Company is entitled to deduct or set off any overpayment to the
Executive, from or against any monies owing by the Executive to the Company (including, but not necessarily limited to, leave entitlements).

 

		26.3	Executive’s
                                            right to terminate on notice

 

The
Executive may terminate the employment by giving the equivalent period of written notice that the Company would have provided pursuant
to clause 26.2 above, or such other lesser period as is agreed between the Executive and the Company.

 

		26.4	Payment
                                            in lieu of notice and alternative duties

 

Where
either party terminates the Executive’s employment under this agreement, the Company may, in consultation with the Executive, do
any or any combination of the following:

 

		(a)	Elect
                                            to make a payment in lieu of notice or part of any notice of an amount equal to the Executive’s
                                            TRC for the period of notice; or

 

		(b)	Require
                                            the Executive to undertake any alternative duties and responsibilities as the Company requires,
                                            including undertaking no duties, during all or part of the notice period.

 

		26.5	Entitlements
                                            on termination

 

		(a)	On
                                            termination of this agreement in accordance with clause 26.2 or 26.3, the Executive shall
                                            be entitled to receive from the Company:

 

		(i)	Pay
                                            in lieu of any accrued annual leave and/or long service leave to which the Executive is entitled
                                            up to and including date of termination;

 

    16 

     

    

 

		(ii)	Any
                                            payment in lieu of notice under clause 26.2;

 

		(iii)	Any
                                            applicable benefits due to the Executive pursuant to the provisions of any incentive plan
                                            if the Company determines the Executive is so entitled; and

 

		(iv)	Any
                                            outstanding Salary payments.

 

		(b)	Any
                                            entitlement to redundancy pay will be in accordance with the Company’s minimum obligations
                                            under the Fair Work Act 2009 (Cth).

 

		(c)	If
                                            the amount payable to the Executive in connection with termination of their employment would
                                            result in the Company breaching section 200B of the Corporations Act, then despite any other
                                            provision in this agreement, the amount payable to the Executive will be the maximum amount
                                            which may lawfully be paid without obtaining shareholder approval in accordance with the
                                            Corporations Act.

 

		26.6	Effect
                                            of termination on Executive

 

If
the Executive’s employment is terminated, then in addition to any other rights or remedies provided by law, the Executive must:

 

		(a)	Return
                                            to the Company all of the property of the Company in the Executive’s possession or
                                            control, including all access cards, credit cards, and keys;

 

		(b)	Continue
                                            to comply with clauses 20 through to 25 (inclusively) of this agreement;

 

		(c)	Cease
                                            using all Documentation that is in the Executive’s possession, power or control, and
                                            at the Company’s option:

 

		(i)	Return;

 

		(ii)	Destroy
                                            and certify in writing to the Company the destruction of; or

 

		(iii)	Destroy
                                            and permit a representative of the Company to witness the destruction of, all Documentation;
                                            and

 

		(d)	If
                                            the termination is at the initiative of the Company, unless otherwise agreed between by the
                                            Executive and the Board, resign any and all directorships held as a consequence of employment
                                            with the Company and irrevocably appoint the Company Secretary as agent to execute any documents
                                            required to give effect to the Executive’s resignation.

 

		(e)	If
                                            the termination is at the initiative of the Executive, within 1 month of giving notice of
                                            resignation in writing, advise the Company Secretary in writing whether or not the Executive
                                            intends to stay on the Board in a non-executive capacity. If the Executive fails to notify
                                            the Company Secretary within this timeframe or elects not to stay on the Board, the Executive
                                            must resign any and all directorships held as a consequence of employment with the Company
                                            and irrevocably appoint the Company Secretary as agent to execute any documents required
                                            to give effect to the Executive’s resignation.

 

    17 

     

    

 

		26.7	No
                                            compensation

 

		(a)	Upon
                                            termination of this agreement in accordance with its express terms, the Executive shall not
                                            be entitled to claim any compensation or damages from the Company in respect of that termination.

 

		(b)	If
                                            the Executive’s employment is terminated and the Executive resigns as a director under
                                            clause 26.6(d), the Executive has no entitlement to any compensation for loss of the directorship(s).

 

		26.8	General
                                            effect of termination

 

Each
party retains any rights, entitlements or remedies it has accrued before termination.

 

		26.9	Misrepresentation

 

The
Executive shall not:

 

		(a)	At
                                            any time, intentionally make any untrue statement in relation to the Company or any of its
                                            related bodies corporate, or

 

		(b)	After
                                            cessation of his employment, wrongfully represent himself as being employed or connected
                                            with the Company or any of its related bodies corporate.

 

		27.	Assignment

 

		27.1	Assignment
                                            by the Company

 

The
Company may, in its absolute discretion, assign or otherwise deal with any of its rights or obligations under this agreement in any way
it considers appropriate, including assigning this agreement to any corporate entity that may succeed the Company or to a Related Body
Corporate of the Company.

 

		27.2	Assignment
                                            by Executive

 

Except
as required under clauses 20 and 21, the rights and obligations of the Executive under this agreement are personal and the Executive
must not assign or otherwise deal with them.

 

		28.	Amendment

 

This
agreement may only be amended or varied in writing signed by each party.

 

		29.	Waiver

 

		29.1	No
                                            waiver

 

No
failure to exercise or delay in exercising any right given by or under this agreement to a party constitutes a waiver and the party may
still exercise that right in the future.

 

		29.2	Waiver
                                            must be in writing

 

Waiver
of any provision of this agreement or a right created under it must be in writing signed by the party giving the waiver and is only effective
to the extent set out in that written waiver.

 

    18 

     

    

 

		30.	Approval
                                            or consent

 

Unless
this agreement expressly states otherwise, the Company may, in its absolute discretion, give or withhold any approval or consent that
it may be requested to give under this agreement in any way it considers appropriate, including by imposing conditions.

 

		31.	Counterparts

 

This
agreement may be signed in any number of counterparts. All signed counterparts taken together constitute one agreement.

 

		32.	Additional
                                            obligations

 

The
covenants in this agreement are in addition to and will in no way derogate from the obligations of the Executive in respect of secret
and confidential information at law or in equity or under any statute or trade or professional custom or usage.

 

		33.	Operation
                                            and Severability

 

If
any provision of this agreement is void, voidable by a party, unenforceable, invalid or illegal and would not be so if a word(s) were
omitted, then that word(s) are to be severed. If this cannot be done, the entire provision is to be severed from this agreement without
affecting the validity or enforceability of the remaining provisions of this agreement.

 

		34.	Further
                                            Steps

 

Each
party agrees to promptly do all things reasonably necessary or desirable to give full effect to this agreement and the transactions contemplated
by it such as obtaining consents or signing documents.

 

		35.	Entire
                                            agreement

 

This
agreement constitutes the entire agreement between the parties about its subject matter and supersedes all previous communications, representations,
understandings or agreements between the parties on the subject matter.

 

		36.	Governing
                                            law and jurisdiction

 

		36.1	Governing
                                            law

 

This
agreement is governed by the laws of Victoria.

 

		36.2	Jurisdiction
                                            of courts

 

The
parties submit to the non-exclusive jurisdiction of the courts of Victoria and the Federal Court of Australia and any courts that may
hear appeals from those courts about any proceedings in connection with this agreement.

 

    19 

     

    

 

Signing
Page

  

EXECUTED
by Gelteq Pty Ltd (ACN 619 501 254) in accordance with the Corporations Act by being signed by the following officer:

  

	/S/
    Simon Szewach	 	/S/
    Jeff Olyniec
	Signature of Director	 	Signature of Director/Company Secretary
	 	 	 
	Simon Szewach	 	Jeff Olyniec
	Name of Director (please print)	 	Name of Director/Company Secretary (please print)

 

SIGNED
by Nathan Jacob Givoni in the presence of:

 

	[*****]
  	 	/S/
  Nathan Givoni 
	Signature of Witness	 	Signature of Executive

 

	[*****]	 	 

Name
of witness (please print)

 

Schedule

 

Item
1 – Position

 

The
Executive is employed to perform the role of Chief Executive Officer.

 

The
Executive also agrees to act as a Director of the Company (or any entity within the Group).

 

Item
2 – Commencement Date

 

The
Executive initially commenced in the Position in June 2018 as CEO and company director.

 

Item
3 – Duties

 

The
Executive is required to be responsible for all duties associated with the Position including:

 

		●	Develop
                                            the company’s culture and overall company vision.
	 	 	 

		●	Implement
                                            the company strategy and lead the day-to-day business operations.
	 	 	 

		●	Develop
                                            and track key performance indicators (KPIs) and objectives, and key results (OKRs) for the
                                            business.
	 	 	 

		●	Oversee
                                            financial performance and risk profile while ensuring that all regulatory obligations are
                                            met.

 

    20 

     

    

 
   

		●	Oversee
                                            multiple departments, including finance, product, manufacturing, and supply chain.
	 	 	 

		●	Manage
                                            the day-to-day science and formulations of new and existing products.
	 	 	 

		●	Oversee
                                            product regulatory and compliance matters.
	 	 	 

		●	Manage
                                            all company Intellectual property matters relating to the business
	 	 	 

		●	Manage
                                            all strategic partnerships in relation to product development
	 	 	 

		●	Manage
                                            the company R&D strategy and plan.
	 	 	 

		●	Work
                                            with the executive board to determine values and mission, and plan for short and long-term
                                            goals.
	 	 	 

		●	Act
                                            as a primary spokesperson for the company.

 

Item
4 – Total Remuneration Cost

 

	Table
    1 	 
	Total
    Remuneration Cost  	AUD
    $220,000 per annum
	Broken
    down as follows:	 
	Base
    Salary Component (Salary)  	$200,000
    per annum
	Minimum
    superannuation contributions as prescribed under legislation (currently 10%) up to the maximum contribution base.	$20,000
    per annum
	 	 
	Table
    2 	 
	Total
    Remuneration Cost  	$300,000USD
                                            per annum (plus minimum superannuation contributions as prescribed under legislation
                                            (currently 10%) up to the maximum contribution base).

     

    Further,
    the Company agrees that the Executive’s notional Total Remuneration Cost will not fall below the equivalent of $400,000AUD
    (plus minimum superannuation contributions up to the maximum contribution base), when the Total Remuneration Cost is converted to
    AUD.

 

    21 

     

    

 

Item
5 – Location 

 

The
Executive’s principal place of work is 641 Glen Huntly Road, Caulfield, 3162, Victoria, Australia.

 

Item
6 – Short Term Incentive

 

The
Executive will be entitled to an annual STI of 75% of the Salary (plus superannuation capped at the maximum contribution base) in respect
of the Company’s fiscal year, as determined by the Board of the Company after consideration of his performance against KPIs determined
in advance.

 

Further,
the Executive will also be entitled to a payment of $200,000USD as an STI, if the Company begins trading on a public exchange (i.e. ASX,
NASDAQ etc.). This payment will be paid out to the Executive within 120 of the date of listing based on approval from the Board.

 

Item
7 – Approved Other Work

 

Subject
to all required Board and shareholder approvals, the Company agrees to the Executive’s interests in other work as follows.

 

	Company
    details	Role
    and Duties	Additional
                                            details 

    

	Lifestyle
    Breakthrough Holdings Pty Ltd (and its subsidiaries)	Board
    Director	No
                                            conflicts with the Company

	Skin
    Tech Australasia Pty Ltd (and its subsidiaries)	Board
    Director	No
                                            conflicts with the Company

	Domalina
    Pty Ltd	Board
    Director	No
    conflicts with the Company
	Givoni
    Investments Pty Ltd	Board
    Director	No
                                            conflicts with the Company

    

	Nutrition
    DNA Pty Ltd	Board
    Director	No
    conflicts with the Company
	Metabolic
    Health Foundation	Board
    Director	No
    conflicts with the Company
	Axarain
    Investments Pty Ltd	Board
    Director	No
    conflicts with the Company
	Lorch
    Investments Pty Ltd	Board
    Advisor	No
    conflicts with the Company
	Searidge
    Investments Pty Ltd	Board
    Director	No
    conflicts with the Company

 

 

22Exhibit
10.15

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) would be competitively harmful if publicly disclosed 

 

Share
Sale Agreement

 

 

This
agreement is dated 13 June 2021 (Agreement)

 

BETWEEN:

 

		(a)	Paramount
                                            Global Limited;

		(b)	Gladwin
                                            Ventures Pty Ltd;

		(c)	Jeff
                                            Olyniec;

		(d)	Ack
                                            Proprietary Limited ATF Markoff Superannuation Fund No.2;

		(e)	Asiana
                                            Trading Corporation Limited;

		(f)	Legats
                                            Pty Ltd ATF Simon Szewach Family Trust; and

		(g)	Givoni
                                            Investments Pty Ltd ATF Givoni Investments Family Trust

(each
a Transferee and collectively, Gelteq(s))

and

		(a)	Gelteq
                                            Pty Ltd (ACN 619 501 254) (Gelteq)

 

RECITALS

 

		A.	Gelteqs
                                            are all of the members of the Company Nutrigel Pty Ltd and all of the Unitholders of the
                                            Nutrigel Pty Ltd Unit Trust (Nutrigel).

 

		B.	Nutrigel
                                            has 1740 Stapled Shares and Units on issue (Shares).

 

		C.	The
                                            Transferor is the legal owner of the Shares.

 

		D.	Each
                                            Transferor will transfer its Shares in Nutrigel to Gelteq in return for Gelteq issuing the
                                            same number of Ordinary Shares in Gelteq as set out herein.

 

OPERATIVE
CLAUSES

 

		1	Interpretation

 

In
this Agreement, unless the context otherwise requires:

 

		(a)	a
                                            reference to any legislation or legislative provision includes any statutory modification
                                            or re- enactment of, or legislative provision substituted for, and any subordinate legislation
                                            issued under, that legislation or legislative provision;

 

		(b)	a
                                            reference to a clause or part of a clause is a reference to that clause or part of a clause
                                            of this Agreement;

 

		(c)	the
                                            singular includes the plural and vice versa;

 

		(d)	a
                                            reference to an individual or person includes a corporation, partnership, joint venture,
                                            association, authority, trust, state or government and vice versa;

 

		(e)	a
                                            reference to any gender includes all genders;

 

		(f)	a
                                            reference to a clause or schedule is to a clause or schedule of this Agreement;

 

		(g)	headings
                                            are for convenience of reference only and do not affect interpretation;

 

		(h)	a
                                            reference to $ is to Australian currency;
	 	 	 

		(i)	where
                                            an expression is defined, another part of speech or grammatical form of that expression has
                                            a corresponding meaning; and

 

		(j)	where
                                            an expression is defined anywhere in this Agreement it has the same meaning throughout.

 

    

     

    

 

	2	Conditions
                                            precedent

 

This
Agreement is subject to, and conditional upon:

 

		(a)	the
                                            members approving the transfer of the Shares and waiving any pre-emptive rights they may
                                            have in relation to the transfer; and

 

		(b)	a
                                            director’s resolution being passed, approving of the transfer of the Shares;

 

		(c)	any
                                            new members in Gelteq agreeing to be bound by the Shareholders Agreement by providing a Deed
                                            of Accession.

 

	3	Agreement
                                            to sell and buy the Transferring Shares

 

		(a)	Gelteqs
                                            each agree to transfer to Gelteq all of the Shares, free from any security interest or third-party
                                            interest together with all benefits rights and entitlements accrued or attached to the Transferring
                                            Shares.

 

		(b)	Gelteq
                                            agrees to issue to each of the Transferor’s shares in Gelteq within 10 Business Days
                                            of the Date of this Agreement and in the numbers set out below:

 

	Shareholder	 	Shares
    in Gelteq to be issued  	 
	Paramount Global
    Limited	 	 	53	 
	Gladwin Ventures
    Pty Ltd	 	 	   [*****	] 
	Jeff Olyniec	 	 	9	 
	Ack Proprietary Limited ATF
    Markoff Superannuation Fund No.2	 	 	  [*****	]
	Asiana Trading Corporation
    Limited	 	 	1112	 
	Legats Pty Ltd ATF Simon Szewach
    Family Trust	 	 	104	 
	Givoni
    Investments Pty Ltd ATF Givoni Investments Family Trust	 	 	104	 
	TOTAL	 	 	1740	 

 

	4	Transfer
                                            of title

 

		(a)	The
                                            Transferor warrants to Gelteq that the Transferor is now, and will immediately prior to the
                                            completion of the transfer of Transferring Shares under this Agreement (Completion),
                                            be the sole legal and beneficial owner of the Shares with full right, title and interest
                                            in them, free from any security or third-party interest.

 

		(b)	Title,
                                            property and risk in the Shares remain solely with the Transferor until Completion and, subject
                                            to the terms of this Agreement, pass to Gelteq with effect on and from Completion.

 

		(c)	The
                                            Transferor agrees that, subject to the terms of this Agreement, upon Completion, it will
                                            transfer the legal and beneficial ownership in full in the Shares to Gelteq.

 

    2

     

    

 

	5	Completion

 

		(a)	The
                                            parties agree that immediately after Completion, they will do all things necessary to ensure
                                            that the directors, and the members of the Company do all things necessary to give effect
                                            to the transactions contemplated by this Agreement including recording the change in shareholding
                                            in its corporate register and with ASIC.

 

		(b)	At
                                            Completion, the Transferor must deliver to Gelteq:

 

		(i)	a
                                            duly executed transfer in favour of Gelteq and share certificates in respect of all the Shares;

 

		(ii)	any
                                            other document which Gelteq requires to obtain good title to the Shares, including any power
                                            of attorney under which any document delivered under this Agreement has been signed.

 

	6	Notices

 

		(a)	In
                                            this Agreement, notices include any approvals, consents, instructions, orders, directions,
                                            statements, requests and certificates or other communications that may be given, or are required
                                            to be given, under this Agreement.

 

		(b)	Unless
                                            expressly stated otherwise in this Agreement, all notices must be:

 

		(i)	in
                                            writing;

 

		(ii)	signed
                                            — if the party is a company, then the notice must be signed by the company’s
                                            directors or solicitors;

 

		(iii)	left
                                            at the address, sent by prepaid ordinary post, sent by fax, or given in any other way permitted
                                            by law; and

 

		(iv)	take
                                            effect from the time they are received unless a later time is specified.

 

		(c)	If
                                            a notice is delivered after 5pm on any day, the Notice will be deemed to have been received
                                            at the commencement of business on the next business day.

 

	7	Confidentiality

 

		(a)	The
                                            parties acknowledge that by virtue of this Agreement, each may be afforded access to, and
                                            acquire knowledge of the other party’s proprietary and business information of a confidential
                                            nature including notes and discussions relating to the proposed transaction, financial information
                                            about a party, commercial information about the other party’s dealings with third parties,
                                            trade secrets including ideas and concepts not reduced to material form, technical information
                                            and technical drawings, product and market information due diligence materials and any information
                                            marked “confidential” or which the party has informed the other party is confidential
                                            or a trade secret (Confidential Information).
	 	 	 

    3

     

    

 

		(b)	Confidential
                                            Information does not include information available to the public (other than through disclosure
                                            by a party in breach of this clause 9).

 

		(c)	A
                                            party receiving any Confidential Information agrees that unless permitted under clause 9(d)
                                            Confidential Information will not be:

 

		(i)	disclosed
                                            to any third party;

 

		(ii)	used
                                            by the recipient for its own purposes; or

 

		(iii)	disclosed
                                            to employees, contractors or agents who do not have a need to receive the Confidential Information
                                            in connection with this Agreement.

 

		(d)	Confidential
                                            Information may be disclosed:

 

		(i)	if
                                            it is no longer confidential;

 

		(ii)	to
                                            a party’s solicitors or accountants for the purpose of assessing the commercial transaction
                                            contemplated in this Agreement;

 

		(iii)	where
                                            disclosure is permitted or required by law; or

 

		(iv)	where
                                            the disclosure is permitted in writing by the disclosing party.

 

	8	General

 

		(a)	Costs:
                                            Each party must pay its costs of entering into and negotiation of this Agreement.

 

		(b)	Counterparts:
                                            This Agreement may be executed in any number of counterparts and all of those counterparts
                                            taken together constitute one and the same instrument.

 

		(c)	Electronic
                                            records and signature: It is agreed by the parties that, notwithstanding the use herein
                                            of the words “writing,” “execution,” “signed,” “signature,”
                                            or other similar words, the parties intend that the use of electronic signatures and the
                                            keeping of records in electronic form be granted the same legal effect, validity or enforceability
                                            as a signature affixed by hand or the use of a paper-based record keeping system (as the
                                            case might be) to the extent and as provided for in any applicable law including Electronic
                                            Transactions Act 2000 (NSW), or any other similar laws.

 

		(d)	Entire
                                            agreement: This Agreement is the entire agreement between the parties and supersedes
                                            all and any communications, negotiations, arrangements and agreements, whether oral or written,
                                            between the parties in respect of the matters that are the subject of this Agreement.

 

		(e)	Further
                                            assurance: Each party must from time to time and in a timely manner do all things reasonably
                                            required of it by the other party to give effect to this Agreement.

 

		(f)	No
                                            representations or warranties: The parties hereby acknowledge that no representations
                                            or warranties have been made other than those expressly recorded in this Agreement and that,
                                            in respect of this Agreement or any part of it including the transactions contemplated pursuant
                                            to this Agreement, no party has relied or will rely upon any representations or information,
                                            whether oral or written, previously provided to or discovered by it.

 

		(g)	Powers, rights and
                                                                                                                                                 remedies: Unless otherwise stated in this Agreement, the powers, rights and/or remedies of a party under this Agreement are
                                                                                                                                                 cumulative and are in addition to any other powers, rights and remedies of that party. Nothing in this Agreement merges,
                                                                                                                                                 extinguishes, postpones,
lessens or otherwise prejudicially affects any power, right, or remedy that a party may have at any time against the other party to this
Agreement or any other person.
	 	 	 

    4

     

    

  

		(h)	Severance:
                                            If any provision of this Agreement is prohibited by law or judged by a court to be unlawful,
                                            void or unenforceable, the provision shall, to the extent required, be severed from this
                                            Agreement and rendered ineffective as far as possible without modifying the remaining provisions
                                            of this Agreement, and shall not in any way affect any other circumstances of or the validity
                                            or enforcement of this Agreement.

 

		(i)	Third
                                            parties: This Agreement does not, and is not intended to, confer any rights or remedies
                                            upon any person other than the parties.

 

		(j)	Waiver:
                                            A failure by either party to take action to enforce its rights does not constitute a waiver
                                            of any right or remedy under this Agreement unless it is in writing signed by the party granting
                                            the waiver.

 

		(k)	Governing
law and jurisdiction: The law of New South Wales, Australia governs this Agreement. The parties submit to the exclusive jurisdiction
of the courts of New South Wales and the Federal Court of Australia and any courts which may hear appeals from those courts in respect
of any proceedings in connection with this Agreement. Signed sealed and delivered as an agreement

 

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by Paramount Global Limited by its

sole director/secretary:

 

	/S/
    Jeff Olyniec	 
	Director Signature	 

  

	Jeff Olyniec	 
	Print Name	 
	 	 
	13 June 2021	 
	Date Signed	 

 

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by Gladwin Ventures Pty Ltd by its

sole director/secretary:

 

	/S/
    Authorized Signatory	 
	Director Signature	 

 

	Authorized Signatory	 
	Print Name	 
	 	 
	13 June 2021	 
	Date Signed	 

 

Signed
by Jeff Olyniec:

 

	/S/
    Jeff Olyniec	 
	Signature of
    Jeff Olyniec	 

 

	13 June 2021	 
	Date signed	 

 

    5

     

    

 

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by ACK Property Limited ATF Markoff

Superannuation Fund
No.2 by its sole

director/secretary:

 

	/S/
    Jeffrey Markoff	 
	Director Signature	 

 

	Jeffrey
    Markoff	 
	Print Name	 
	 	 
	13 June 2021	 
	Date Signed	 

  

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by Asiana Trading Limited by its sole

director/secretary:

 

	/S/
    Jeff Olyniec	 
	Director Signature	 

 

	Jeff
    Olyniec	 
	Print Name	 
	 	 
	13
    June 2021	 
	Date Signed	 

  

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by Legats Pty Ltd ATF Simon

Szewach Family Trust by
its sole

director/secretary:

 

	/S/
    Simon Szewach	 
	Director Signature	 

 

	Simon
    Szewach	 
	Print Name	 
	 	 
	13 June 2021	 
	Date Signed	 

  

    6

     

    

 

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by Givoni Investments Pty Ltd ATF

Givoni Investments
Family Trust by its

sole director/secretary:

 

	/S/Jenna
    Givoni	 
	Director Signature	 

  

	Jenna
    Givoni	 
	Print Name	 
	 	 
	13 June 2021	 
	Date Signed	 

 

Executed
in accordance with section

127 of the Corporations Act 2001 (Cth)

by Gelteq by its sole director/secretary:

 

	/S/Nathan
    Givoni	 
	Director Signature	 

  

	Nathan
    Givoni	 
	Print Name	 
	 	 
	13 June 2021	 
	Date Signed	 

 

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]