Document:

Exhibit 10.2

 

TERMINATION OF EXCLUSIVE LICENSE AGREEMENT

 

THIS TERMINATION OF EXCLUSIVE
LICENSE AGREEMENT (this “Agreement”), is entered into and effective as of June 15, 2021 (the “Effective
Date”), by and between SG BLOCKS, INC., a Delaware corporation (“Licensor”) and CPF
GP 2019-1, LLC, a Delaware limited liability company (“Licensee”). The Licensor and the Licensee are referred
to herein individually as a “Party” and collectively as the “Parties”.

 

WHEREAS, Licensor and
Licensee are parties to that certain Exclusive License Agreement, dated October 3, 2019, as amended by that certain Amendment No. 1 to
Exclusive License Agreement, dated October 17, 2019 (collectively, the “License Agreement”);

 

WHEREAS, Licensor and
Licensee, together with Capital Plus Financial, LLC, a Texas limited liability company, are parties to that certain Settlement and Mutual
Release Agreement, dated as of even date herewith (the “Settlement Agreement”), pursuant to which Licensor and
Licensee have agreed to a final settlement (the “Settlement”) of certain disputes that exist between Licensor
and Licensee regarding the License Agreement;

 

WHEREAS, pursuant to
the Settlement Agreement, and in furtherance of the Settlement, Licensor and Licensee have agreed to execute and deliver this Agreement
in order to terminate the License Agreement; and

 

WHEREAS, the Licensor
and Licensee mutually desire to terminate the License Agreement subject to the terms and conditions of this Agreement.

 

NOW, THEREFORE, in
consideration of the premises, the mutual covenants and agreements set forth in this Agreement, the Settlement Agreement, the Assignment
Agreement (as defined in the Settlement Agreement), and the Letter Agreement (as defined in the Settlement Agreement), and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Parties, the Parties, intending to be legally
bound, hereby agree as follows:

 

1. CAPITALIZED
TERM. Any capitalized term used in this Agreement but not defined in this Agreement shall have the meaning ascribed to such term in
the Settlement Agreement, and, if such term is not defined in the Settlement Agreement, such term shall have the meaning ascribed to such
term in the License Agreement.

 

2. TERMINATION
OF LICENSE AGREEMENT. The License Agreement is hereby terminated effective as of the Effective Date, and, as of the Effective Date,
is of no further force or effect. Neither the Licensor nor Licensee shall have any further, additional, or continuing rights, obligations,
responsibilities, or duties with respect to the License Agreement, including, without limitation, any obligations for the payment of any
Royalty, fees, or other amounts.

 

3.
 ACKNOWLEDGMENT. Licensor and Licensee hereby acknowledge and agree that as of the Effective
Date, no further payments (with respect to any Royalty or otherwise) will be due or owing from the Licensee to the Licensor under the
License Agreement. In lieu of any payments which may have been due or owing from Licensee to Licensor under the License Agreement, the
Licensor has agreed to accept the assignment of the Redemption Consideration pursuant to the Assignment Agreement (as defined in the Settlement
Agreement) in full and complete satisfaction thereof.

 

4. BINDING
EFFECT. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted
assigns.

 

    

     

    

 

5. ENTIRE
AGREEMENT. This Agreement, together with the Settlement Agreement, Assignment Agreement (as defined in the Settlement Agreement),
Redemption Agreement Amendment (as defined in the Settlement Agreement), and Letter Agreement (as defined in the Settlement Agreement),
constitutes the entire agreement and understanding of the Parties with respect to the subject matter hereof and thereof and supersede
all prior agreements and understandings (whether written or oral) relating to the subject matter hereof or thereof, and there are no agreements,
understandings, warranties, representations, or covenants of the Parties hereof or thereof other than those set forth in this Agreement,
the Settlement Agreement, the Assignment Agreement (as defined in the Settlement Agreement), the Redemption Agreement Amendment (as defined
in the Settlement Agreement), or the Letter Agreement (as defined in the Settlement Agreement).

 

6. GOVERNING
LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect
to conflict of laws principles.

 

7.FURTHER ASSURANCES; NECESSARY ACTIONS.
The Parties agree to sign, execute, and deliver, or cause to be signed, executed, and delivered, and to do or make, or cause to be done
and made, upon the written request of the other Party, any and all agreements, instruments, papers, documents, waivers, acts, or things,
supplemental, confirming, or otherwise, as may be reasonable requested to effect the purpose and intent of this Agreement. 

 

8. SEVERABILITY.
If any term or provision of this Agreement or the application thereof under certain circumstances is declared invalid, illegal, or unenforceable
by a court of competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of
this Agreement or any other application thereof.

 

9. HEADINGS
AND CAPTIONS. The headings and captions set forth in this Agreement are for convenience and reference only and shall not be used in
interpreting or construing this Agreement.

 

10. RECITALS.
The recitals to this Agreement are incorporated in, and made a part of, this Agreement.

 

11. COUNTERPARTS;
FACSIMILE EXECUTION. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which taken together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including,
..pdf), or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and shall
be valid and effective for all purposes.

 

[Signatures appear on the following pages]

 

[Remainder of this page intentionally left blank]

 

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IN WITNESS WHEREOF,
the Parties have mutually executed and delivered this Agreement as of the Effective Date.

 

	 	LICENSOR:
	 	 
	 	SG BLOCKS, INC.
	 	 
	 	By:	 /s/ Paul Galvin
	 	Name: 	  Paul Galvin
	 	Title:	 Chairman and CEO

 

	 	LICENSEE:  
	 	 
	 	CPF GP 2019-1 LLC
	 	 
	 	By:	 /s/ Greg Jacobson
	 	Name: 	  Greg Jacobson
	 	Title:	 Manager

 

 

3Exhibit 10.3

 

ASSIGNMENT OF LIMITED RIGHTS UNDER MEMBERSHIP
INTEREST REDEMPTION AGREEMENT

 

This ASSIGNMENT OF LIMITED
RIGHTS UNDER MEMBERSHIP INTEREST REDEMPTION AGREEMENT (this “Assignment”) is executed and delivered effective
as of June 15, 2021 (the “Effective Date”) by CAPITAL PLUS FINANCIAL, LLC, a Texas limited liability
company (“Capital Plus”) in favor of SG BLOCKS, INC., a Delaware corporation (“SG Blocks”).
CPF GP 2019-1 LLC, a Texas limited liability company (“CPF GP”) has executed this Assignment for the
limited purposes set forth in Section_5 of this Assignment.

 

WHEREAS, CPF GP and
Capital Plus are parties to that certain Membership Interest Redemption Agreement, dated effective as of December 21, 2020 (as amended,
the “Redemption Agreement”) pursuant to which (i) CPF GP redeemed Capital Plus’s interest in CPF GP and
(ii) as consideration therefore CPF GP agreed to pay over to Capital Plus the Consideration (as defined in the Redemption Agreement) (the
“Redemption Consideration”) as received by CPF GP from CPF MF from time to time, if any;

 

WHEREAS, Capital Plus,
SG Blocks, and CPF GP are parties to that certain Settlement Agreement, dated as of even date herewith (the “Settlement Agreement”),
pursuant to which Capital Plus, SG Blocks, and CPF GP have agreed to settle certain existing disputes (the “Settlement”);

 

WHEREAS, in furtherance of the Settlement
Agreement and the Settlement, contemporaneously herewith, CPF GP and Capital Plus have amended the Redemption Agreement pursuant to the
terms of that certain Amendment to Membership Interest Redemption Agreement, dated as of even date herewith (the “Redemption
Agreement Amendment”); and 

 

WHEREAS, pursuant to
the Settlement Agreement, and in furtherance of the Settlement, Capital Plus has agreed to execute and deliver this Assignment to assign
its rights to receive the Redemption Consideration under the Redemption Agreement to SG Blocks.

 

NOW, THEREFORE, in
consideration of the premises, the mutual covenants and agreements set forth in this Assignment, the Settlement Agreement, the Letter
Agreement (as defined in the Settlement Agreement), and the License Termination Agreement (as defined in the Settlement Agreement), and
for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned, intending to
be legally bound, hereby agree as follows:

 

1. CAPITALIZED
TERMS. Any capitalized term used in this Assignment but not defined in this Assignment shall have the meaning ascribed to such term
in the Settlement Agreement, and, if such term is not defined in the Settlement Agreement, such term shall have the meaning ascribed to
such term in the Redemption Agreement.

 

2. ASSIGNMENT
OF REDEMPTION CONSIDERATION. Capital Plus does hereby grant, bargain, sell, convey, transfer, assigns, and set over unto SG Blocks
and its successors and assigns, TO HAVE AND TO HOLD FOREVER, all of its right, title, and interest in and to the Redemption Consideration
under the Redemption Agreement. From and after the Effective Date, any and all Redemption Consideration received by CPF GP from CPF MF,
if any, shall be paid over to SG Blocks in the manner specified in, and in accordance with the terms of, the Redemption Agreement.

 

3. ACCEPTANCE
OF ASSIGNMENT. SG Blocks hereby accepts the assignment set forth in Section 2.

 

    

     

    

 

4. ACKNOWLEDGMENT.
SG Blocks acknowledges that (a) its receipt of any Redemption Consideration pursuant to the Redemption Agreement (as assigned to SG Blocks
under this Assignment) is dependent on CPF GP receiving distributions from CPF MF and (b) neither CPF GP, CPF MF, Capital Plus, or any
other entity or individual has made any representation that CPF GP will receive any distribution from CPF MF.

 

5. CONSENT
TO ASSIGNMENT. Pursuant to Section 8(b) of the Redemption Agreement, CPF GP hereby consents to Capital Plus’s assignment of
its right to receive the Redemption Consideration, if any, to SG Blocks pursuant to this Assignment.

 

6. GOVERNING
LAW. This Assignment shall be construed, interpreted, enforced, and governed in accordance with the laws of the State of Texas, without
giving effect to conflict of laws principles.

 

7. BINDING
EFFECT. This Assignment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors
and permitted assigns. Any further assignment of the right to receive the Redemption Consideration by SG Blocks shall require the consent
of CPF GP pursuant to Section 8(b) of the Redemption Agreement.

 

8. ENTIRE
AGREEMENT. This Assignment, together with the Settlement Agreement, License Termination Agreement (as defined in the Settlement Agreement),
the Redemption Agreement Amendment, and the Letter Agreement (as defined in the Settlement Agreement), constitutes the entire agreement
and understanding of the parties hereto with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings
(whether written or oral) relating to the subject matter hereof or thereof, and there are no agreements, understandings, warranties, representations,
or covenants of the Parties hereof or thereof other than those set forth in this Assignment, the Settlement Agreement, the License Termination
Agreement (as defined in the Settlement Agreement), the Redemption Agreement Amendment, or the Letter Agreement (as defined in the Settlement
Agreement).

 

9. FURTHER
ASSURANCES; NECESSARY ACTIONS. The parties hereto agree to sign, execute, and deliver, or cause to be signed, executed, and
delivered, and to do or make, or cause to be done and made, upon the written request of the other party, any and all agreements,
instruments, papers, documents, waivers, acts, or things, supplemental, confirming, or otherwise, as may be reasonable requested to
effect the purpose and intent of this Assignment. 

 

10. SEVERABILITY.
If any term or provision of this Assignment or the application thereof under certain circumstances is declared invalid, illegal, or unenforceable
by a court of competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of
this Assignment or any other application thereof.

 

11. HEADINGS
AND CAPTIONS. The headings and captions set forth in this Assignment are for convenience and reference only and shall not be used
in interpreting or construing this Assignment.

 

12. RECITALS.
The recitals to this Assignment are incorporated in, and made a part of, this Assignment.

 

13. COUNTERPARTS;
FACSIMILE EXECUTION. This Assignment may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which taken together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including,
..pdf), or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and shall
be valid and effective for all purposes.

 

[Signatures appear on the following pages]

 

[Remainder of this page intentionally left blank]

 

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IN WITNESS WHEREOF,
the undersigned have executed this Assignment as of the Effective Date.

 

	 	CAPITAL PLUS:
	 	 
	 	CAPITAL PLUS FINANCIAL, LLC
	 	 	 
	 	By:	/s/ Eric Donnelly
	 	Name: 	Eric Donnelly
	 	Title:	CEO

 

	 	SG BLOCKS:
	 	 
	 	SG BLOCKS, INC.
	 	 
	 	By:	 /s/ Paul Galvin
	 	Name: 	  Paul Galvin
	 	Title:	 Chairman and CEO

 

For the limited purposes set forth in Section
5 of this Assignment:

 

	 	CPF GP:
	 	 
	 	CPF GP 2019-1 LLC
	 	 
	 	By:	 /s/ Greg Jacobson
	 	Name: 	  Greg Jacobson
	 	Title:	 Manager

 

 

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