Document:

Exhibit 10.1

 

EXTENSION
TO PROMISSORY NOTE

 

This
EXTENSION TO PROMISSORY NOTE (this “Amendment”) is made effective as of January 31, 2021 by Omnia Wellness Inc., a
Nevada corporation (as successor to the obligations of Omnia Wellness Corporation, a Texas corporation (f/k/a Bed Therapies, Inc.,
as converted from Bed Therapies, LLC, the “Company”), and Barry Pressman, who is the holder of the Promissory Note
referred to below (the “Lender”).

 

RECITALS

 

A
predecessor in interest to the Company and the Lender entered into a promissory note on or about July 31, 2018 (as amended, the
“Promissory Note”)

 

The
Company and the Lender wish to amend the Promissory Note, as amended to date, pursuant to the terms and conditions of this Amendment.

 

AGREEMENT

 

	1.	MATURITY
    DATE. The second paragraph of the Promissory Note is hereby amended by replacing the date therein as the Maturity Date
    with January 31, 2022. Section l of the Promissory Note is hereby amended by replacing “Maturity Date, January 31st,
    2021” with “Maturity Date, which is January 31st, 2022”.
	 	 
	2.	INTEREST.
    Section 2 of the Promissory Note is hereby deleted in its entirety and replaced with:

 

“Interest
on this Note shall commence accruing on the Issuance Date and shall accrue daily at the Interest Rate of 14% per annum on the
outstanding Principal amount and should be paid monthly. The loan will be in effect until the due date of January 31, 2022. At
the option of the Lender, the interest may be paid in the form of any equity or equity linked instrument being sold in an open
offering by the Company at the time the interest payment is due.”

 

	3.	EARLY
    PAYOUT DATE. A new Section 11 of the Promissory Note is hereby added as follows:

 

“11.
Early Payout Date. The Lender can demand a one-time early repayment of the Note and accrued interest thereon at any time
prior to the Maturity Date by providing the Company with fifteen (15) days prior written notice. Given the proper notice, the
Company will comply.”

 

	4.	NO
    ADDITIONAL AMENDMENTS. Except for the stated amendments and replacements in Sections 1 – 3 of this Amendment, all
    other terms and conditions of the Promissory Note remain in full force and effect.
	 	 
	5.	EXTENSION
    FEE. The Company agrees to issue Lender 20,000 shares of its common stock, as consideration for this Amendment.
	 	 
	6.	NOTICE
    TO TRANSFEREES. The terms of this Amendment shall be binding upon and shall inure to the benefit of the parties hereto
    and any successors or permitted assigns of the Company and the Lender. Any successor, permitted assign or permitted transferee
    of the Promissory Note after the date hereof shall be deemed to have acquired the Promissory Note as amended by this Amendment.
	 	 
	7.	CONSTRUCTION.
    Unless otherwise defined herein, capitalized terms shall have the meanings set forth in the Promissory Note. The terms of
    this Amendment amend and modify the Promissory Note as if fully set forth. If there is any conflict between the terms, conditions
    and obligations of this Amendment and the Promissory Note, this Amendment’s terms, conditions and obligations shall
    control. All other provisions of the Promissory Note not specifically modified by this Amendment are preserved.

 

[Remainder
of Page Intentionally Left Blank; Signature Page in Counterparts Follows]

 

    	NOTE EXTENSION JANUARY 31, 2021

    	 	 	 

    

 

IN
WITNESS HEREOF, this Amendment is made effective as of the date first set forth above.

 

	 	THE
    COMPANY:
	 	 
	 	Omnia
    Wellness Inc.,
	 	 	 
	 	By:	/s/
    Steve R. Howe
	 	Name:	Steve
    R. Howe
	 	Title:	Executive
    Chairman
	 	 	 
	 	THE
    LENDER:
	 	 
	 	/s/
    Barry Pressman
	 	Barry
    Pressman

 

    	NOTE EXTENSION JANUARY 31, 2021Exhibit 10.2

 

NOTE
NUMBER______________

 

THIS
PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE HAS BEEN ACQUIRED FOR
INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN
THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
THAT SUCH REGISTRATION IS NOT REQUIRED AND SUCH FOREIGN JURISDICTION LAWS HAVE BEEN SATISFIED.

 

20%
NOTE DUE ON MAY 31st, 2021

 

	$
    140,000.00	 	Issue
    Date: 2/2/2021

 

FOR
VALUE RECEIVED, Omnia Wellness, Inc., a Nevada corporation, (“Borrower”), hereby promises to pay to
the order of James Besser (“Lender”), in lawful money of the United States of America and in immediately
available funds, the principal amount of one hundred and forty thousand dollars ($140,000), plus interest on the outstanding principal
amount accruing at the rate of Twenty percent (20%) per annum (subject to adjustment as described below). Interest and the accrued
principal of the Note, shall be re-paid in full May 31st, 2021.

 

1.
Payment.

 

1.1
Principal and Interest. Interest on the principal amount shall begin accruing on the date hereof, with an interest payment
due at the maturity date. The principal and accrued interest on this Note shall become due and payable on the six (6) month anniversary
of the Issue Date, unless sooner paid in full (the “Maturity Date”). All amounts payable hereunder shall
be paid to Lender at the address specified in writing by Lender.

 

1.2
Prepayment. Borrower will have the right to prepay this Note at any time prior to the Maturity Date after providing Lender
with at least fifteen (15) days’ prior written notice of its intention to prepay this Note.

 

2.
Default.

 

2.1
Each of the following events shall be an “Event of Default” hereunder:

 

(a)
the Borrower files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or
any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit
of creditors or takes any corporate action in furtherance of any of the foregoing;

 

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(b)
an involuntary petition is filed against the Borrower under any bankruptcy statute now or hereafter in effect, or a custodian,
receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody
or control of any property of the Borrower; the Borrower executes an assignment with respect to substantially all of its assets;

 

(c)
the Borrower fails to pay, upon demand made by Lender at any time after the Maturity Date, any and all unpaid principal, accrued
interest and other amounts owing hereunder; and

 

(d)
Borrower breaches any warranty or agreement in any material respect made by Borrower in this Note (except as set forth in
(c) above) and fails to cure such breach within fifteen (15) days of the Borrower receiving written notice of such breach from
Lender.

 

2.2
Upon the occurrence of any Event of Default (without the need for any party to give any notice or take any other action),
the outstanding balance shall immediately and automatically increase to 120% of the outstanding balance immediately prior to the
occurrence of the Event of Default. Upon the occurrence of any Event of Default, the Note shall become immediately due and payable
and the Borrower shall pay to the Lender, in full satisfaction of its obligations hereunder, an amount equal to the outstanding
balance, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including,
without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and
remedies available at law or in equity.

 

3.
Governing Law. This Note shall be governed by, and construed and enforced in accordance with, the laws of the State of New
York, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction.

 

4.
Amendment and Waiver. Any term of this Note may be amended or waived only with a written consent signed by Borrower and Lender.

 

5.
Transfer of Note. The Company may not assign this Note. This Note will be binding upon the Company and its successors and
will inure to the benefit of the Holder and its successors and assigns and may be assigned by the Holder to anyone of its choosing
without Company’s approval.

 

6.
Successors and Assigns. The provisions of this Note shall inure to the benefit of and be binding on any successor to Borrower
and shall extend to any holder hereof.

 

7.
Usury. In no event shall the interest rate or rates payable under this Note, plus any other amounts paid in connection herewith
and therewith, exceed the highest rate permissible under applicable law. Borrower and Lender, in executing and delivering this
Note, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that,
anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the
maximum allowable under applicable law, then, ipso facto, as of the date of this Note, Borrower is and shall be liable only for
the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received,
shall be applied to reduce the principal balance of any remaining obligations to the extent of such excess.

 

8.
Unsecured. This Note is not secured by any assets of the Borrower.

 

9.
No Dilution or Impairment. Borrower shall not, by amendment of its certificate of incorporation or through any reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek
to avoid the observance or performance of any of the terms of this Note, but shall at all times in good faith assist in the carrying
out of all such terms and in the taking of all such actions as may be necessary or appropriate in order to protect the rights
of Lender against dilution or impairment.

 

10.
Attorney’s Fees. If the indebtedness represented by this Note or any part thereof is collected in bankruptcy, receivership
or other judicial proceeding or if this Note is placed in the hands of attorneys for collection after default, then Borrower agrees
to pay, in addition to the principal and interest payable hereunder, reasonable attorneys’ fees and costs incurred by Lender
related to or arising from such collection.

 

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

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IN
WITNESS WHEREOF, Borrower has executed this Note in favor of Lender as of the date first written above.

 

	 	BORROWER
	 	 
	 	Omnia
    Wellness, Inc.
	 	 	 
	 	By:	/s/
    Steve R. Howe
	 	Name:	Steve
    R. Howe
	 	Title:	Executive
    Chairman

 

In
addition to Borrower’s obligations under this Note, the payment of all amounts due under this Note is personally guaranteed
by Nickolay Kukekov, as per the Guaranty attached hereto as Exhibit A.

 

	/s/
    Nickolay Kukekov	 
	Name:
    	Nickolay
    Kukekov	 
	Title:
    	Director
    and as an individual	 

 

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