Document:

ASSIGNMENT AGREEMENT

 

THIS ASSIGNMENT AGREEMENT (the “Agreement”)
dated as of MAY 15, 2013 (the “Effective Date”) by and between [                                       ](the
“Buyer”), [                                       ]
(the “Seller”), and PREMIER BEVERAGE GROUP CORP. (“PBGC” and, together with Buyer
and Seller, the “Parties”) as follows:

 

WHEREAS, on December 9, 2011, PBGC
issued Seller that certain senior secured promissory note with an original principal balance of $100,000.00 and a current principal
balance of $75,000 (“Original Debenture”); and,

 

WHEREAS, Buyer desires to purchase
from Seller, and Seller desires to sell to Buyer, the Restated 59GP Debenture on the basis of the terms and conditions hereof.

 

NOW, THEREFORE, in consideration
of the mutual promises and covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties hereby agree as follows:

 

		1.	Purchase of Original Debenture

 

1.1           Purchase
and Sale. Effective as of the Effective Date, Seller shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall
purchase, assume and acquire from Seller, all of Seller’s right, title and interest in, to and under the Original Debenture,
free and clear of all liens, claims and encumbrances in exchange for (a) a cash advance of $25,000.00 (“Advance”),
plus (b) eighty percent (80%) of Buyer’s net cash proceeds realized upon sale of PBGC common stock issued upon conversion
of the Original Debenture (or any amendment thereto), up to a maximum of an additional $50,000.00 (“Remainder”
and, together with the Advance, the “Purchase Price”).

 

1.2           Closing
Deliveries. Immediately following the execution hereof, but in no event more than 2 (two) days following such date (the “Closing
Date”), Seller and PBGC shall deliver, to Buyer fully-executed copies of this Agreement.

 

1.3           The
Closing. The purchase and sale of the Amended Debenture contemplated hereunder (the “Closing”), including
the delivery of all deliveries in this Section 1, shall take place on the Closing Date at the offices of Buyer; provided, however,
that the Parties agree that Closing may take place by mail, email, facsimile or overnight delivery.

 

		2.	Representations and Warranties

 

2.1.          Representations
and Warranties of Seller and PBGC. Seller and PBGC represent and warrant to Buyer as of the date of this Agreement as follows:

 

2.1.1           Organization
and Standing. PBGC is a corporation, duly organized, validly existing, and in good standing under the laws of the state of
Delaware, and has the power to carry on its business as now being conducted.

 

2.1.2           Authorization.
PBGC has all necessary power and authority to execute and deliver this Agreement and to consummate the transactions contemplated
hereby. The execution, delivery and performance of this Agreement has been duly approved by all necessary actions of PBGC, and
this Agreement and any document executed or delivered to Buyer in connection herewith (collectively, the “Transaction
Documents”) constitute valid and binding obligations of PBGC enforceable against PBGC in accordance with the terms of
the Transaction Documents, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
or similar laws and general principles of equity.

 

2.1.3           Title
to Amended Debenture. Seller is the sole owner of the Original Debenture and can convey good and marketable title as agreed
hereunder, free and clear of all liens, charges, security interests, claims or encumbrances whatsoever.

 

2.2           Representations
and Warranties of Buyer. Buyer represents and warrants as follows:

 

2.2.1           Organization
and Standing. Buyer is a limited liability company duly organized, validly existing, and in good standing under the laws of
the State of Delaware, and has the power to carry on its business as now being conducted.

 

    	Exhibit 10.17	1	 

    	 

    

  

2.2.2           Authorization.
Buyer has full power and authority and the legal right to enter into this Agreement and to consummate the transactions contemplated
hereby. The execution, delivery, and performance of the Transaction Documents has been duly approved by all necessary actions,
and the Agreement constitutes a valid and binding obligation of Buyer enforceable in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws and principles
of equity.

 

		3.	Miscellaneous

 

3.1           Limitation
of Liability. Seller shall not be liable to Buyer for special, indirect, incidental, consequential, or punitive damages of
the other or for any form of damages (even if advised of the possibility thereof) other than direct damages arising out of or in
connection with this Agreement or the subject matter hereof.

 

3.2           Survival.
All representations and warranties contained in this Agreement shall survive for a period of one year after the execution of this
Agreement unless waived in writing by the Party for whose benefit such representations and warranties have been given. The indemnification
and other covenants of the Parties contained in this Agreement and pursuant hereto shall survive the Closing Date and remain in
full force and effect indefinitely, subject to applicable statutes of limitation.

 

3.3           Expenses.
Each Party hereto shall pay its own expenses incurred in connection with this Agreement and in the preparation for and consummation
of the transactions provided for herein.

 

3.4           Non-Violation.
Neither Seller nor Buyer shall take or omit to take any action (or permit any person, firm, or corporation under its control to
take or omit to take any action) that would violate or cause a violation of the representations or warranties made herein or render
the same inaccurate in any material respect as of the date hereof or which in any way would prevent the carrying out of this Agreement
or completion of the transactions contemplated herein and in any Transaction Document. Each of the undersigned Parties shall take
all such action or further action as may be reasonably necessary or desirable in order to effectuate the consummation of the transactions
contemplated hereby.

 

3.5           Notices.
All notices under this Agreement shall be in writing and shall be (i) delivered in person, (ii) sent by telecopy, or (iii) mailed,
postage prepaid, either by registered or certified mail, return receipt requested, or overnight express carrier, addressed in each
case to the addresses set forth above, or to any other address or telecopy number as such Party shall designate in a written notice
to the other. All notices sent pursuant to the terms of this Section shall be deemed received (i) if personally delivered, then
on the date of delivery; (ii) if sent by telecopy before 2:00 p.m. local time of the recipient, on the day sent if a business day
or if such day is not a business day or if sent after 2:00 p.m. local time of the recipient, then on the next business day; (iii)
if sent by overnight, express carrier, on the next business day immediately following the day sent; or (iv) if sent by registered
or certified mail, on the earlier of the third (3rd) business day following the day sent or when actually received. Any notice
by telecopy shall be followed by delivery of a copy of such notice on the next business day by overnight express carrier or by
hand.

 

3.6           Entire
Agreement; Amendment. This Agreement supersedes any and all prior and contemporaneous agreements, understandings, negotiations
and discussions of the Parties, whether oral or written. No amendment, supplement, modification, waiver or termination of this
Agreement shall be binding unless executed in writing by all Parties hereto, or in the case of a waiver, by the Party for whom
such benefit was intended. The Parties acknowledge and agree that facsimiles or photocopies of the executed original of this Agreement
shall be deemed to have the same force and effect as an executed original for all purposes.

 

3.7           Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of, and be enforceable against, the Parties hereto
and their respective successors and assigns. This Agreement shall not be assignable by Seller or PBGC, however, this Agreement
shall be assignable by Buyer upon written notice to Seller and PBGC.

 

3.8           Governing
Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New Jersey, without regard
to the principles of conflict of laws. The Parties expressly consent to the jurisdiction and venue of the Superior Court of New
Jersey, Bergen County, for any litigation between the Parties.

 

3.9           Waivers.
Compliance with the provisions hereof may be waived only by an instrument in writing executed by the Party granting the waiver.
The failure of any Party at any time or times to require performance of any provisions of this Agreement shall in no manner affect
the right of such Party at a later time to enforce the same or any other provision of this Agreement. No waiver of any condition
or of the breach of any term contained in this Agreement in one or more instances shall be deemed to be or be construed as a further
or continuing waiver of such condition or breach or of any other condition or of the breach of any other term of this Agreement.

 

    	Exhibit 10.17	2	 

    	 

    

 

3.10         Further
Assurances; Cooperation. At and after the Closing, Seller and PBGC will execute and deliver such further instruments of conveyance
and transfer as Buyer may reasonably request to issue, deposit, clear and, in the Buyer’s (or its designee’s) sole
discretion, transfer the Conversion Shares.

 

3.11         Signature
in Counterparts. This Agreement may be executed in separate counterparts, neither of which need contain the signatures of both
Parties, each of which shall be deemed to be an original, and both of which taken together constitute one and the same instrument.

 

3.12         Jury
Waiver. Seller and Buyer hereby make the following waiver knowingly, voluntarily, and intentionally, and understand that the
other, in entering into this Agreement, is relying on such a waiver: SELLER AND BUYER EACH HEREBY IRREVOCABLY WAIVE ANY PRESENT
OR FUTURE RIGHT TO A JURY IN ANY TRIAL OF ANY CASE OR CONTROVERSY IN WHICH THE OTHER BECOMES A PARTY (WHETHER SUCH CASE OR CONTROVERSY
IS INITIATED BY OR AGAINST SUCH PARTY OR IN WHICH SUCH PARTY IS JOINED AS A PARTY LITIGANT), WHICH CASE OR CONTROVERSY ARISES OUT
OF, OR IS IN RESPECT OF, ANY RELATIONSHIP BETWEEN SELLER, OR ANY OTHER PERSON, AND BUYER.

 

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    	Exhibit 10.17	3	 

    	 

    

 

IN WITNESS WHEREOF the Parties have
duly executed, or caused their duly authorized representative, to execute this Agreement.

 

	SELLER:	 
	[                                                            ]	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	Manager	 
	 	 
	BUYER:	 
	[                                                               ]	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	Manager	 
	 	 
	COMPANY:	 
	PREMIER BEVERAGE GROUP CORP.	 
	 	 
	By:	 	 
	Name:	Fouad Kallamni	 
	Title:	President	 

 

    	Exhibit 10.17	4Fouad Kallamni	May 15, 2013
	PREMIER BEVERAGE GROUP CORP.	 
	501 Madison Avenue, Suite 501	 
	New York, New York 10022	 

  

		RE:	FORBEARANCE AGREEMENT

 

Dear Mr. Kallamni:

 

Reference is made to that certain senior
secured promissory note issued by PREMIER BEVERAGE GROUP CORP. (“Company”) to [                                        ] (“Assignee”)
with an original principal balance of $100,000.00 and a current principal balance of $75,000 (“Original Debenture”).
Reference is further made to that certain Assignment Agreement by and among Company, Assignee and [                                        ](“Lender”)
dated May 15, 2013 (“Assignment Agreement”), pursuant to which Assignee assigned 100% of its right, title and
interest in, to and under the Original Debenture to Lender. In consideration of the terms, conditions and provisions of this Forbearance
Agreement and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned
parties (each, a "Party" and, collectively, the "Parties") hereby agree as follows:

 

1.          The
Company hereby confirms that an event of default has occurred under the Original Debenture due to the failure by the Company to
pay the balances due on or before the stated maturity date ( “Stated Default”), and consequently that $136,287.50
in penalties are payable by the Company under the Original Debenture as of the date hereof, plus an additional $13,712.50 in costs
incurred on behalf of the Company, corresponding to a total of $225,000.00 due and payable as of the date hereof (“Outstanding
Balance”).

 

2.          In
exchange for the agreement of Lender to forbear from exercising further rights in connection with the foregoing Stated Default,
the Company hereby agrees to

 

a.           issue
Lender an amended and restated convertible debenture with a principal balance equal to the Outstanding Balance and in substantially
the same form as the form of debenture attached in Exhibit A hereto (the “Amended Debenture”);

 

b.           issue
a total of 9.9% of the Company’s issued and outstanding common shares to Lender upon receipt of Lender’s written notice
of conversion of a portion of the Outstanding Balance at a conversion price equal to the default conversion price stated in the
Amended Debenture of $0.00015 per share, for a total of 9.9% of the Company’s issued and outstanding common shares at the
time of conversion (“First Forbearance Shares”);

 

c.           issue
a total of 9.9% of the Company’s issued and outstanding common shares to Lender upon receipt of Lender’s written notice
of conversion of a portion of the Outstanding Balance at a conversion price equal to the greater of the default conversion price
stated in the Amended Debenture of $0.00015 per share or the average volume weighted average closing market price for the Company’s
common stock for the 45 days following the sooner to occur of (i) September 30, 2013, or (ii) the date upon which the Company has
filed all reports required under Section 13 of the Securities Exchange Act of 1934 within the time parameters mandated by the Rules
of the Securities and Exchange Commission (“Second Forbearance Shares”); and,

 

d.           execute
and otherwise cause the execution of those certain documents, instruments and agreements itemized in Exhibit B hereto,
and all other documents, agreements, certificates and other instruments necessary or appropriate in connection therewith.

 

3.          This
Forbearance Agreement shall be made effective as of the date hereof (the “Effective Date”) and shall bind and
inure to the benefit of undersigned and their respective successors and permitted assigns.

 

4.          The
Parties hereby represent and warrant that (i) each Party has all requisite power and authority to execute, deliver and perform
this Forbearance Agreement and to consummate the transactions contemplated hereby; (ii) that this Forbearance Agreement has been
duly and validly executed and delivered, and constitutes the legal, valid and binding obligation of such Party; and (iii), that
the execution, delivery and performance by it of this Forbearance Agreement and the consummation by it of the actions contemplated
herein have been duly authorized by all necessary corporate or other action on behalf of such Party.

 

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    	Exhibit 10.18	1	 

    	 

    

 

Please confirm your acceptance and agreement
to the foregoing terms and conditions of this Forbearance Agreement by signing where indicated below and returning the executed
Forbearance Agreement to my attention.

  

	 	Sincerely,
	 	[                              ]
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	Manager

 

	ACCEPTED AND AGREED TO BY:	 
	PREMIER BEVERAGE GROUP CORP.	 
	 	 
	By:	 	 
	Name:  	Fouad Kallamni	 
	Title:	President	 

  

    	Exhibit 10.18	2

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