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EXHIBIT
10.2

 

 

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    	26EXHIBIT
10.15

 

Manufacturing
Supply and License Agreement

 

This
Manufacturing Supply and License Agreement, dated as of July 31, 2020 (the “Agreement”), is entered into by and between
Australian Boutique Spirits Pty Ltd., an Australian private company, no. 625 701 420 (“ABS” or “Seller”)
having its principal place of business located at 1 Doris Hirst Place, West Pennant Hills, Sydney, Australia 2125, and Elegance Brands,
Inc., a Delaware corporation (the “Buyer” or “Elegance”) having its principal place of business
located at 9100 Wilshire Blvd, Suite 362W, Los Angeles, California 90212. The Seller and Buyer are hereinafter sometimes collectively
referred to as the “Parties”, and each, a “Party”.

 

This
Agreement replaces and supersedes in its entirety the existing manufacturing agreement between the parties (the “Prior Agreement”)
for the purchase of the Elegance VodkaTM brand; which Prior Agreement is hereby terminated.

 

W
I T N E S S E T H:

 

WHEREAS,
Seller is in the business of manufacturing and selling certain of the “Covered Products” (as defined below) and;

 

WHEREAS,
during the “Term” (as defined below) of this Agreement, the Buyer wishes to purchase the Covered Products from Seller;
and

 

WHEREAS,
Seller desires to manufacture and sell the Covered Products to Buyer; and

 

WHEREAS.
the Seller and the Buyer have entered into the “Share Purchase Agreement” (as defined below) and the Parties agree
that this Agreement is intended to be an interim business arrangement between the Parties pending the consummation of the acquisition
of 100% of the share capital of ABS by Elegance pursuant to the Share Purchase Agreement.

 

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

 

1.             Definitions.
In addition to other terms defined in this Agreement, the following capitalized terms have the meanings set forth or referred to in
this Section 1.

 

“ABS
Shareholder” shall mean Amit Raj Beri.

 

“Action”
means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation,
citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or other, whether at law, in
equity or otherwise.

 

“Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is
under common Control with, such Person.

 

“Agreement”
has the meaning set forth in the preamble to this Agreement.

 

“Anniversary
Year” shall mean, during the Term of this Agreement, each of the twelve (12) consecutive months, commencing August 1 and ending
July 31.

 

     

     

    

 

 

“BevMart
Brands” means the individual brands and line extensions of the following alcoholic product brands developed by Buyer for
Buyer’s e-commerce asset, BevMart.com.au, (a) Cheeky Vodka (b) Coventry Estate Gin, (c) Cheeky
Coffee Cocktails, (d) Geo Liqueur, (f) all future brands developed by Buyer, and (g) all future brands and
line extensions of such brands for which Seller’s Intellectual Property is sold to Buyer.

 

“Business
Day” means any day except Saturday, Sunday or any other day on which commercial banks located in Los Angeles, California, U.S.A
are authorized or required by Law to be closed for business.

 

“Buyer”
has the meaning set forth in the preamble to this Agreement.

 

“Buyer
Contracts” means the collective reference to this Agreement, the BevMart Contract, the Power Brands Contract and all other
contracts or agreements to which Buyer is a party with respect to the purchase, sale and distribution of alcohol and related drinks,
including Covered Products.

 

“Buyer
Parties” means Buyer, its Affiliates, customers, subcontractors and successors and assigns, and each of their respective Representatives.

 

“Buyer
Intellectual Property Rights” means any and all of the Intellectual Property Rights now or hereafter owned and used by or licensed
to Buyer pursuant to this Agreement that are developed with respect to, or for incorporation into the design, formulation, production,
and manufacturing of the Covered Products, whether developed by Buyer alone, by Buyer and Seller jointly or by Seller alone as requested
by Buyer in connection with this Agreement.

 

“Buyer’s
Territory” means (a) with respect to the Australian Bitters Company Covered Products and VOCO covered products only the USA,
and its territories and possessions, and (b) with respect to all other Covered Products, the entire world.”

 

Claim”
means any Action brought against a Person entitled to indemnification under this Agreement.

 

“Control”
(and with correlative meanings, the terms “Controlled by” and “under common Control with”) means, with respect
to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of
another Person, whether through the ownership or voting securities, by contract, or otherwise.

 

“Covered
Products” means the individual and collective reference to (a) the alcoholic drinks and Formulations sold as (i) Elegance
Vodka, (ii) Australis Gin, (iii) Twisted Shaker, (iv) the BevMart Brands, (v) Bitter Tales,
(vi) Cocktail Bitters, (vii) VOCO and (viii) Australian Bitters Company, and as otherwise identified on Schedule
1 hereto and described in the Specifications, and (b) any other new alcoholic products that Buyer may hereafter seek to sell
and which Seller shall manufacture and produce for Buyer upon exercise of the ROFR referred to in Section 2.7.

 

“Defective”
means not conforming to the Product Warranty.

 

“Defective
Covered Products” means Covered Products shipped by Seller to Buyer pursuant to this Agreement that are Defective.

  

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“Delivery
Date” means the delivery date for Covered Products ordered hereunder that is set forth in a Purchase Order, which must be a
Business Day that is no less than 14 nor more than 180 days following delivery of the applicable Purchase Order to Seller.

 

“Delivery
Location” unless otherwise specified in a specific Purchase Order, the street address within the Buyer’s Territory for
delivery of the Covered Products means Seller’s facility currently located in Seven Hills, New South Wales, Australia.

 

“Effective
Date” means the date first set forth above.

 

“Encumbrance”
means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security
interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction
on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

 

“Equipment”
means, collectively, “equipment” (as that term is defined in UCC Section 9- 102(a)(33)) that is used in the manufacture,
production or assembly of Covered Products by Seller, and all machinery, equipment, Tooling, furnishings and fixtures (as such terms
are defined in UCC Section 9-102) now owned or hereafter acquired by Seller, of any kind, nature or description, as well as all (a) additions
to, substitutions for, replacements of and accessions to any of the foregoing items, (b) attachments, components, parts (including spare
parts) and accessories installed thereon or affixed thereto, and (c) Seller’s Intellectual Property Rights in connection with the
foregoing.

 

“Favored
Nations Price Adjustment” shall have the meaning as that term is defined in Section

 

5.3
below.

 

“Formulations”
means the formulas, ingredients and flavors, including flavor line extensions, that are used to manufacture the Covered Products and
VOCO Product and all other alcohol products and related drinks included in Buyer Contracts and Seller Contracts.

 

“Forecast”
means, with respect to any period, a good faith projection or estimate of Buyer’s requirements for Covered Products during each
month during the period, which approximates, based on information reasonably available at the time to Buyer, the quantity of Covered
Products that Buyer may order for each such month.

 

“GAAP”
means US generally accepted accounting principles in effect from time to time.

 

“Governmental
Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or
instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory
authority or quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority
have the force of Law), or any arbitrator, court or tribunal of competent jurisdiction.

 

“Governmental
Order” means any order, writ, judgment, injunction, decree, stipulation, award or determination entered by or with any Governmental
Authority.

 

“Initial
Term” has the meaning set forth in Section 6.1.

 

“Intellectual
Property Rights” means all industrial and other intellectual property rights comprising or relating to (a) Patents; (b) Trademarks;
(c) Formulations, (d) internet domain names, whether or not Trademarks, registered by any authorized private registrar or Governmental
Authority,

 

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web
addresses, web pages, website, and URLs; (e) works of authorship, expressions, designs and design registrations, whether or not copyrightable,
including copyrights and copyrightable works, software and firmware, application programming interfaces, architecture, files, records,
schematics, data, data files, and databases and other specifications and documentation; (f) Trade Secrets; and (g) all industrial and
other intellectual property rights, and all rights, interests and protections that are associated with, equivalent or similar to, or
required for the exercise of, any of the foregoing, however arising, in each case whether registered or unregistered and including all
registrations and applications for, and renewals or extensions of, such rights or forms of protection pursuant to the Laws of any jurisdiction
throughout in any part of the world.

 

“Inventory
Bank” means an adequate quantity of safety stock of finished Covered Products and raw materials, at the most-current design
level, based on Buyer’s projected requirements of the Covered Products as set forth in any Releases or Purchase Orders issued to
Seller hereunder.

 

“Law”
means any statute, law, ordinance, regulation, rule, code, constitution, treaty, common law, Governmental Order or other requirement
or rule of law of any Governmental Authority.

 

“Manufacturing
Cost” shall mean the Seller’s actual cost incurred from time to time, for all materials and ingredients, including alcohol,
liquours, fragrances, bottles and caps, and including direct labor, used to manufacture produce and bottle Covered Products.

 

“Nonconforming
Covered Products” means any Covered Products received by Buyer from Seller that: (a) do not conform to the Specifications set
forth in the applicable Purchase Order; (b) on visual inspection and tasting, Buyer or its customer reasonably determines are otherwise
Defective Covered Products; or (c) exceed the quantity of Covered Products ordered by Buyer pursuant to this Agreement or any Purchase
Order. Where the context requires, Nonconforming Covered Products are deemed to be Covered Products for purposes of this Agreement.

 

“Party”
has the meaning set forth in the preamble to this Agreement.

 

“Patents”
means all patents (including all reissues, divisionals, provisionals, continuations and continuations-in-part, re-examinations, renewals,
substitutions and extensions thereof), patent applications, and other patent rights and any other Governmental Authority-issued indicia
of invention ownership (including inventor’s certificates, petty patents, and patent utility models).

 

“Permits”
means permits, licenses, franchises, approvals, authorizations, registrations, certificates, variances and similar rights obtained or
required to be obtained, from any Governmental Authority.

 

“Person”
means any individual, partnership, corporation, trust, limited liability entity, unincorporated organization, association, Governmental
Authority or any other entity.

 

“Personnel”
of a Party means any agents, employees, contractors or subcontractors engaged or appointed by such Party.

 

“Power
Brands Contract” means the production agreement, dated December 2, 2019 between Power Brands Consulting, LLC (“Power
Brands”) and Elegance, pursuant to which Power Brands supplies Buyer with a CBD infused flavored energy drink branded as Gorilla
Hemp.

 

“Prices”
shall mean: (a) for all Covered Products, other than Cocktail Bitters, (i) Seller’s actual Manufacturing Cost
for each of the Covered Products, plus (ii) 54% of the Manufacturing Cost for such Covered Products, subject to Price adjustments
from time to time as provided in Section 5.2 below and Favored Nations Price Adjustments as provided in Section 5.3 below; and (b)
for Cocktail Bitters, the same price per case as Seller charges to and receives from its largest customer, Coca-Cola
Amatil, which is equal to or less than (AUS)$81.75 per case.

 

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“Purchase
Order” means Buyer’s purchase order issued to Seller hereunder, which may, among other things, specify items such as
(a) the Covered Products to be purchased, including the Specifications (if required); (b) the quantity of each of the Covered Products
ordered; (c) the expected Delivery Date; (d) the Price per unit or Price per case for each of the Covered Products to be purchased; (e)
the billing address; and (f) the Delivery Location; in each case, including all terms and conditions attached to, or incorporated into,
such purchase order, and any Release issued by Buyer to Seller under the Purchase Order. For the avoidance of doubt, any references to
Purchase Orders hereunder also include any applicable Releases.

 

“Release”
means a document issued by Buyer to Seller pursuant to a Purchase Order that identifies (to the extent not specified in the original
Purchase Order) the quantities of Covered Products constituting Buyer’s requirements or otherwise to be included in a particular
Purchase Order, the Delivery Locations and Requested Delivery Dates for such Covered Products.

 

“Renewal
Term” has the meaning set forth in Section 6.2.

 

“Representatives”
means a Party’s Affiliates and each of their respective Personnel, officers, directors, partners, shareholders, attorneys, third-party
advisors or consultants, successors and assigns; provided, that the ABS Shareholder shall be deemed to be an authorized Representative
only of the Seller and not of the Buyer.

 

“Rescission
Offer Registration Statement” shall mean the Form S-1 registration statement to be filed by the Buyer with the United States
Securities and Exchange Commission, pursuant to which, inter alia, the Buyer shall make a rescission offer to certain holders
of Buyer’ securities (the “Rescission Offer”).

 

“Seller”
has the meaning set forth in the preamble to this Agreement.

 

“Seller
Contracts” means all contracts or agreements to which Seller is a party or to which any of its material assets are bound.

 

“Seller
Parties” means Seller, its Affiliates, customers (other than Buyer), subcontractors and successors and assigns, and each of
their respective Representatives.

 

“Seller’s
Intellectual Property” means all Intellectual Property Rights owned by or licensed to Seller, used in the design, formulation,
production, and manufacturing of the Covered Products.

 

“Seller’s
Territory” means (a) the continent of Australia with respect to the Australian Bitters Company Covered Products,
and (b) with respect to the Australian Bitters Company Covered Products anywhere in the world, other than the USA, and its territories
and possessions.

 

“Share
Purchase Agreement” means the share purchase agreement among Seller and Buyer and Amit Raj Beri, as the sole shareholder of
Seller (the “ABS Shareholder”), dated December 3, 2019, as amended and restated in its entirety on April 8, 2020 and
as amended on May 19, 2020 and further amended on July 27, 2020, pursuant to which, subject to the conditions set forth therein, the
ABS Shareholder has agreed to sell and Elegance has agreed to purchase, 100% of the share capital of the Seller.

 

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“Share
Purchase Agreement Termination Date” shall mean 5:00 pm Pacific time on December 31, 2020, unless such date shall be extended
by mutual agreement of the Parties and the ABS Shareholder.

 

“Specifications”
means the specifications for the Covered Products attached hereto as Schedule

 

2.

 

“Taxes”
means any and all present and future sales, income, stamp, and other taxes, levies, imposts, duties, deductions, charges, fees or withholdings
imposed, levied, withheld or assessed by any Governmental Authority, together with any interest or penalties imposed thereon.

 

“Term”
has the meaning set forth in Section 6.1/Section 6.2.

 

“Tooling”
means, collectively, all tooling, dies, test and assembly fixtures, gauges, jigs, patterns, casting patterns, cavities, molds, and documentation
(including engineering specifications and test reports) used by Seller in connection with its manufacture and sale of the Covered Products,
together with any accessions, attachments, parts, accessories, substitutions, replacements and appurtenances thereto.

 

“Trademarks”
means all rights in and to US and foreign trademarks, service marks, trade dress, trade names, brand names, logos, symbols, trade dress,
corporate names and domain names and other similar designations of source, sponsorship, association or origin, together with the goodwill
symbolized by any of the foregoing, in each case whether registered or unregistered and including all registrations and applications
for, and renewals or extensions of, such rights and all similar or equivalent rights or forms of protection in any part of the world.

 

“Trade
Secrets” means all inventions, discoveries, trade secrets, business and technical information and know-how, databases, data
collections, patent disclosures, and other confidential and proprietary information and all rights therein.

 

“UCC”
means the Uniform Commercial Code, as adopted in the State of California. “USA” means the United States of America.

 

“VOCO”
means the acronym for the brand known as Vodka Coconut Water Ready to Drink that is owned by Seller.

 

 2.
          Purchase and Sale of Covered Products.

 

2.1       Purchase
and Sale. Subject to the terms and conditions of this Agreement, during the Term, Buyer shall purchase Covered Products from
Seller, and Seller shall manufacture and sell Covered Products to Buyer, at the Prices set forth in this Agreement and in accordance
with Purchase Orders submitted from time to time by Buyer to Seller. Each Purchase Order shall contains: (a) a description of each
of the Covered Products to be manufactured and sold hereunder; (b) the initial Price for each of the Covered Products; (c) the
quantity of the Covered Products to be purchsed; and (d) the expected Delivery Date. The Seller shall have ten (10) Business Days
from its receipt of a Purchase Order to notify Seller of Buyer’s acceptance or rejection of such Purchase Order. If such
Purchase Order is accepted, the Parties shall promptly execute a Statement of Work confirming all of the agreed upon terms. The
Parties shall, from time to time, amend the Purchase Order or Statement of Work to reflect any agreed revisions to any of the
terms described in the foregoing clauses (a)-(d); provided that no such revisions will modify this Agreement or be binding on the
Parties unless such revisions have been fully approved in a signed writing by authorized Representatives of both Parties.

 

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2.2       Projections.
       Commencing on the Effective Date, and every 90 days thereafter throughout the Term of this Agreement, the Buyer shall provide Seller
Buyer’s best projections and estimates of the quantity, in units and cases, of each of the Covered Products that Buyer will need
to purchase from Seller for the next succeeding 90 days (the “Buyer Projections”).

 

2.3       Seller’s
Obligation.    Based on Buyer’s Projections, Seller shall maintain sufficient manufacturing capacity, stocks of raw materials
and packaging to enable it to meet Buyer’s requirements for Covered Products and any additional alcoholic products to be sold by
Seller to Buyer under this Agreement.

 

2.4       Manufacturing
Cost Reports.      During the Term of this Agreement, ABS will make available to Elegance a report of the individual elements comprising
Seller’s Manufacturing Costs for each Statement of Work.

 

2.5       Terms
of Agreement and Buyer’s Purchase Order Prevail; Order of Precedence. The Parties intend for the express terms and conditions
contained in this Agreement (including any Schedules hereto) and in any Purchase Order that are consistent with the terms and conditions
of this Agreement to exclusively govern and control each of the Parties’ respective rights and obligations regarding the manufacture,
purchase and sale of the Covered Products, and the Parties’ agreement is expressly limited to such terms and conditions. Notwithstanding
the foregoing, if any terms and conditions contained in a Purchase Order or Statement of Work conflict with any terms and conditions
contained in this Agreement, the applicable term or condition of this Agreement will prevail and, unless the Parties agree through their
respective Representatives to amend this Agreement, such contrary or different terms will have no force or effect. Except for such additional
or contrary terms, the terms and conditions of all Purchase Orders are incorporated by reference into this Agreement for all applicable
purposes hereunder. Without limitation of anything contained in this Section 2.2, any additional, contrary or different terms contained
in any Confirmation or any of Seller’s invoices or other communications, and any other attempt to modify, supersede, supplement
or otherwise alter this Agreement, are deemed rejected by Buyer and will not modify this Agreement or be binding on the Parties unless
such terms have been fully approved in a signed writing by authorized Representatives of both Parties.

 

2.6       Right
of First Refusal.     In addition to the Covered Products, the Seller shall have the right, but not the obligation, to manufacture and
sell to Buyer all new alcoholic products branded under Buyer’s Intellectual Property and to be sold or distributed by Buyer in
the Buyer Territory (the “ROFR”). Buyer shall advise Seller in writing of its intent to sell or distribute such new
alcoholic products and provide Projections of the estimated cases and quantities of such new alcoholic products to be sold by Buyer in
the next succeeding 12 months and the prices to be charged by Buyer to its anticipated customers. Seller shall have 90 days to accept
or reject such ROFR; failure to timely affirmatively accept the ROFR shall be deemed to be a rejection thereof, and Buyer shall be free
to contract with any other producer or supplier of such new alcoholic products. If Seller timely accepts the ROFR, the Parties agree
to negotiate in good faith the final Prices for such alcoholic products, which shall, subject to providing Buyer with a reasonably acceptable
profit margin, shall be consistent with the Prices for Covered Products set forth in this Agreement.

 

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3.           
Ordering Procedure.

   

3.1       Purchase
Orders. Buyer shall issue Purchase Orders to Seller in written or electronic form via EDI/facsimile, e-mail or US mail. From time-to-time,
Buyer may also issue Releases to Seller. For the avoidance of doubt, Buyer shall only be obligated to purchase from Seller, and Seller
shall be obligated to sell to Buyer, the quantities of Covered Products listed or otherwise specified in a Purchase Order (including
any related Release).

 

3.2       Acceptance,
Rejection, and Cancellation of Purchase Orders. Seller shall confirm to Buyer the receipt of each Purchase Order issued hereunder
(each, a “Confirmation”) within ten (10 Business Days following Seller’s receipt thereof in written form via
EDI/facsimile, e-mail or US mail. Each Confirmation must reference Buyer’s Purchase Order number, confirm acceptance of the Purchase
Order or, solely if permitted under this Section 3.2, advise Buyer of Seller’s rejection of such Purchase Order, the date of acceptance
or rejection and the basis for rejection, if applicable. If Seller fails to issue a Confirmation within the time set forth in the first
sentence of this Section 3.2 or otherwise commences performance under such Purchase Order, Seller will be deemed to have accepted the
Purchase Order. Buyer may withdraw any Purchase Order prior to Seller’s acceptance thereof. Seller may only reject a Purchase Order
if (a) Seller has sent Buyer a Notice of termination under Section 6.5 or (b) the applicable Purchase Order includes terms and conditions
that supplement or are inconsistent with those contained in this Agreement, which Seller is unwilling to accept. Seller may not cancel
any previously accepted Purchase Order hereunder. Buyer may only cancel a previously accepted Purchase Order pursuant to the exercise
of Buyer’s rights under Section 4.1.

 

4.           
Shipment, Delivery, Acceptance, and Inspection.

  

4.1           Shipment
and Delivery Requirements.

 

(a)       Time,
quantity, and delivery to the Delivery Location are of the essence under this Agreement. Seller shall procure materials for, fabricate,
assemble, pack, mark, and ship Covered Products strictly in the quantities, by the methods, to the Delivery Locations and by the Delivery
Dates, specified in this Agreement or in an applicable Purchase Order or Release. Delivery times will be measured to the time that Covered
Products are actually received at the Delivery Location. If Seller does not comply with any of its delivery obligations under this Section
4, Buyer may, in Buyer’s sole discretion and at Seller’s sole cost and expense, (i) approve a revised Delivery Date, (ii)
require expedited or premium shipment, or (iii) cancel the applicable Purchase Order and obtain similar goods from other sources (and
all such Covered Products will be deemed to have been purchased under this Agreement for purposes of satisfying Buyer’s quantity
requirements hereunder). Unless otherwise expressly agreed to by the Parties in writing, Seller may not make partial shipments of Covered
Products to Buyer.

 

(b)       The
Buyer shall pay all shipping costs for Covered Products sold to Buyer. The Buyer is responsible for collection and pickup of all Covered
Products within 28 days of the production completion date.

 

(c)       In
the event that Buyer shall have the right to cancel any Purchase Order pursuant to this Section 4 by reason of Seller’s failure
to make timely delivery by the relevant Delivery Date of the Covered Products set forth in this Agreement or in the applicable Purchase
Order, then and in such event, Seller shall, at the request of Buyer, either (i) refund to Buyer in full the Price previously paid for
such Covered Products as contemplated by such Purchase Order, or (ii) provide Buyer with a credit against the next succeeding payments
for Covered Products subsequently ordered by Buyer from the Seller.

 

    8 

     

    

 

4.2            Transfer
of Title, Insurable Interest and Risk of Loss.

 

(a)       Title.
Title to all Covered Products set forth in any Purchase Order shall be deemed to be vested in Buyer upon its payment of the full Price
for such Covered Products. Title will transfer to Buyer even if Seller has not been paid for such Covered Products, provided that Buyer
will not be relieved of its obligation to pay for Covered Products in accordance with the terms hereof. However,.

 

(b)       Insurable
Interest and Risk of Loss.     Notwithstanding any agreement between Buyer and Seller concerning transfer of title or responsibility
for shipping costs, the insurable interest and risk of loss for all Covered Products shipped under any Purchase Order shall pass to Buyer
only upon delivery of the Covered Products to the Delivery Location or other location specified in such Purchase Order and acceptance
of such Covered Products by Buyer or its customers. Until such time as delivery is made to Buyer at the applicable Delivery Location
and acceptance of such Covered Products by Buyer or its customers, the insurable interest and risk of loss to such Covered Products will
remain with Seller.

 

(c)       Insurance.
    Seller shall name Buyer as an additional insured on all of Seller’s insurance policies covering shipment and delivery of Covered
Products and, to the extent that any Covered Products are lost or damaged in shipment or are deemed to be Defective Covered Products,
Seller shall cause its insurance company to make payment directly to Buyer to the extent of the purchase Price previously paid by Buyer
for such Covered Products.

 

4.3            Packaging
and Labeling.     Seller shall properly pack, mark, and ship Covered Products as instructed by Buyer and otherwise in accordance with
applicable Law and industry standards, and shall provide Buyer with shipment documentation showing the Purchase Order number, Seller’s
identification number for the subject Covered Products, the quantity of pieces in shipment, the number of cartons or containers in shipment,
Seller’s name, the bill of lading number, and the country of origin.

 

4.4            Inspection.
    Covered Products are subject to inspection and approval or rejection by Buyer or its customers notwithstanding Buyer’s prior receipt
of or payment for the Covered Products. Buyer or its customers shall have a reasonable period of time, not to be less than thirty days
following delivery of the Covered Products to the Delivery Location (“Inspection Period”), to inspect all Covered
Products received under this Agreement and to inform Seller, in writing, of Buyer’s or such customer’s rejection of any Nonconforming
Covered Products. Buyer may return to Seller any or all units or cases of rejected Covered Products that constitute Nonconforming Covered
Products because they are Defective Covered Products or exceed the quantity stated in the applicable Purchase Order. If Buyer rejects
any other Nonconforming Covered Products, Buyer may elect to (a) require Seller, at Seller’s sole cost, to replace the rejected
Covered Products at the location specified by Buyer (which may include Seller’s location, Buyer’s location or the location
of a third party), (b) purchase similar goods from another source (and apply such purchases against Buyer’s quantity requirements
hereunder), (c) produce similar goods itself (and apply such production quantities against Buyer’s quantity requirements hereunder),
or (d) retain the rejected Covered Products; in each case without limiting the exercise by Buyer of any other rights available to Buyer
under this Agreement or pursuant to applicable Law. All returns of Nonconforming Covered Products to Seller are at Seller’s sole
risk, cost and expense. Covered Products that are not rejected within the Inspection Period will be deemed to have been accepted by Buyer
or its customer; provided, however, that Buyer’s acceptance of any Covered Products will not be deemed to be a waiver or limitation
of Seller’s obligations pursuant to this Agreement (or any breach thereof), including those obligations with respect to Seller’s
Product Warranty and Seller’s duty to indemnify Buyer.

 

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5.           
Prices and Payment

 

5.1           Prices.
    Subject to Section 5.2 and Section 5.3, Buyer shall purchase the Covered Products from Seller at the Prices set forth on in this
Agreement.Except for shipping costs from Australia to the USA or other Delivery Location (which shall be borne by Buyer),
all Prices include, and Seller is solely responsible for, all costs and expenses relating to packing, crating, boxing, transporting,
loading and unloading, customs, Taxes, tariffs and duties, insurance and any other similar financial contributions or obligations
relating to the production, manufacture, sale, and delivery of the Covered Products. Subject only to the provisions of Section 5.3
below, the Buyer shall pay to the Seller in advance and prior to manufacture and shipment of any Covered Products, 100% of the Price
of all Covered Products set forth in the applicable Purchase Order, Statement of Work or Invoice (the “Payment
Terms”). All Prices are firm and are not subject to increase for any reason, including changes in market conditions,
increases in raw material, component, labor or overhead costs or because of labor disruptions or fluctuations in production
volumes.

 

5.2            Price
Adjustments.     Seller will guarantee the Prices as set forth in each respective Purchase Order Acceptance or Statement of Work for
a period of sixty (60) days from the execution date of such Purchase Order Acceptance or Statement of Work. If a Price adjustment is
warranted (a) for Covered Products, other than Cocktail Bitter, as a result of Seller’s increased Manufacturing Costs, or (b) for
Cocktail Bitters, as a result of Seller’s increased pricing to Coca-Cola Amatil, the Seller shall provide the Buyer with evidence,
reasonably acceptable to Buyer, of such increased Manufacturing Costs or increases prices charged to Coca-Cola Amatil, as applicable.
Applicable Price adjustments shall become effective immediately for all Purchase Orders not yet accepted by Seller.

 

5.3            Favored
Nations Price Adjustment.     Seller represents and warrants that the Prices set forth in this Agreement and Payment Terms is at least
as low as the prices charged and the Payment Terms imposed by Seller to other buyers for similar quantities of Covered Products on similar
Delivery Dates and Delivery Terms. If at any time during the Term, Seller charges any other buyer of similar quantities of Covered Products
on similar Delivery Date and Delivery Terms, a lower price, or agrees to Payment Terms that are more favorable to such buyer than those
set forth in Section 5.1 of this Agreement for the same Covered Products, Seller shall apply that lower price and more favorable Payment
Terms to all same or similar Covered Products covered by this Agreement and under applicable Purchase Orders, Statements of Work or Invoices
(the “Favored Nations Price Adjustment”). The Buyer shall be entitled to a Favored Nations Price Adjustment on one
occasion only in each Anniversary Year and it shall apply only to sales and purchases of Covered Products in the next succeeding Anniversary
Year. If Seller fails to provide Buyer with a Favored Nations Price Adjustment to which it may be entitled, Buyer may, at its option,
in addition to all of its other rights under this Agreement or at Law, terminate this Agreement without liability pursuant to Section
6.4.

 

5.4            Invoices.
    Seller shall issue periodic invoices on a monthly basis to Buyer for all Covered Products ordered in the previous month. Each invoice
for Covered Products must set forth in reasonable detail the total amounts payable by Buyer under this Agreement and contain the following
information, as applicable: a reference to this Agreement; Purchase Order number, amendment number and line-item number; Seller’s
name; Seller’s identification number; carrier name; ship-to address; weight of shipment; quantity of Covered Products shipped;
number of cartons or containers in shipment; bill of lading number; country of origin; and any other information necessary for identification
and control of the Covered Products. Buyer reserves the right to return and withhold payment due to any invoices or related documents
that are inaccurate or incorrectly submitted to Buyer. The Parties shall seek to resolve any invoice disputes expeditiously and in good
faith in accordance with the dispute resolution provisions set forth in Section 17.16. Any payment by Buyer of an invoice is not an acceptance
of any Nonconforming Covered Products or terms on such invoice or the related Covered Products.

 

    10 

     

    

 

5.5            Payment.
    Any payment by Buyer for Covered Products will not be deemed acceptance of the Covered Products or waive
Buyer’s right to inspect. Buyer will be entitled to any discounts allowable by Seller for prompt payment even though
Buyer is unable to make payment within the time limits set by Seller if such failure is due to Seller’s actions or other
circumstances or events beyond Buyer’s reasonable control. Buyer shall make all payments in USA dollars based on the then
applicable exchange rate for Australian dollars, by check, wire transfer or automated clearing house in accordance with the wiring
instructions provided by Seller.

 

5.6           Setoff;
Contingent or Disputed Claims.     All amounts due from Buyer to Seller are net of any indebtedness of Seller or the ABS Shareholder
to Buyer, as set forth in the Share Purchase Agreement. In the event that the transactions contemplated by the Share Purchase Agreement
are not consummated by Share Purchase Agreement Termination Date, if either (a) the $1,712,500 Deposit referred to in the Share Purchase
Agreement shall not be paid by the ABS Shareholder directly to the Buyer, or (b) the Buyer shall be unable to pay in full the amounts
required to be paid to former investors in the Buyer under the Rescission Offer Registration Statement, in addition to any right of set-off,
deduction or recoupment provided or allowed by Law, Buyer may, without notice to Seller, set off against, and deduct and recoup from,
any amounts then due or to become due from the ABS Shareholder to Seller or its investors, including for damages resulting from breaches
by the ABS Shareholder of his obligations under the Share Purchase Agreement or under any other agreement between the Buyer or any other
Person with the ABS Shareholder that is applicable to Buyer (collectively, the “ABS Shareholder Obligations”). In
such connection, the Buyer may reduce the Prices payable to Seller with respect to each invoice dated from and after the incurrence any
ABS Shareholder Obligations, at the rate of 25% of the total amount due on such invoice until the ABS Shareholder Obligations shall have
been paid in full.

 

6.           
Term; Termination.

  

6.1            Initial
Term. Subject at all times to the provisions of Section 6.3 and other terms of this Agreement, the term of this Agreement commences
on the Effective Date and continues for a period of twenty-four (24) consecutive months, unless it is earlier terminated pursuant to
the terms of this Agreement or applicable Law (the “Initial Term”).

 

6.2           Renewal
Term. Upon expiration of the Initial Term, the term of this Agreement will automatically renew for up to twenty-four (24) additional
successive months unless either Party provides written Notice of non-renewal at least 60 days prior to the end of the then-current term
(each, a “Renewal Term” and together with the Initial Term, the “Term”), unless any Renewal Term
is earlier terminated pursuant to the terms of this Agreement or applicable Law. If the Initial Term or any Renewal Term is renewed for
any Renewal Term(s) pursuant to this Section 6.2, the terms and conditions of this Agreement during each such Renewal Term will be the
same as the terms in effect immediately prior to such renewal. In the event either Party provides timely Notice of its intent not to
renew this Agreement, then, unless earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the
Initial Term or then-current Renewal Term, as applicable.

 

6.3           Automatic
Termination. In the event that the Buyer shall acquire 100% of the share capital of the Seller from the ABS Shareholder and the other
transactions contemplated by the Share Purchase Agreement shall be consummation at any time on or prior to the Share Purchase Agreement
Termination Date, this Agreement shall automatically, and without any further notice by either of the Parties or the ABS Shareholder,
terminate. In the event that the provisions of this Section 6.3 shall become applicable, neither Party shall have any further liabilities,
rights or obligations to the other, as the Seller shall become a wholly-owned subsidiary of the Buyer.

 

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6.4           Buyer’s
Right to Terminate for Cause. Buyer may terminate this Agreement, by providing written Notice to Seller:

  

(a)       if
Seller repudiates or threatens to repudiate, any of its obligations under

 

this
Agreement;

 

(b)       except
as otherwise specifically provided under this Section 6.4, if Seller is in material] breach of, or threatens to breach, any material
representation, warranty or covenant of Seller under this Agreement and either the breach cannot be cured or, if the breach can be cured,
it is not cured by Seller within a commercially reasonable period of time under the circumstances, in no case exceeding sixty (60) days
following Seller’s receipt of written Notice of such breach;

 

(c)       notwithstanding
the generality of Section (b), if Seller repeatedly fails to, or threatens not to, timely deliver Covered Products conforming to the
requirements of, and otherwise in accordance with, the terms and conditions of this Agreement;

 

(d)       if
Seller (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due, (ii) files or has filed against
it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding
under any domestic or foreign bankruptcy or insolvency Law, (iii) makes or seeks to make a general assignment for the benefit of its
creditors, or (iv) applies for or has appointed a receiver, trustee, custodian or similar agent appointed by order of any court of competent
jurisdiction to take charge of or sell any material portion of its property or business;

 

(e)       if
Seller fails to provide Buyer, within a commercially reasonable time after Buyer’s request (but in no case exceeding 30 days after
such request) with adequate and reasonable assurance of Seller’s financial and operational capability to perform timely any of
Seller’s obligations under this Agreement;

 

(f)       if,
as a result of any repeated and material breach by Seller of any of its obligations under this Agreement, Buyer’s customer requires
that Buyer obtain another supplier of Covered Products;

 

(g)       if
Seller takes any action, or fails to take any action, required under this Agreement or any other agreement between Buyer and Seller,
or as reasonably requested by Buyer, the result of which is an imminent interruption or delay, or the threat of an imminent interruption
or delay, in any production at any of Buyer’s or its customer’s manufacturing facilities;

 

(h)       if,
without obtaining Buyer’s prior written consent, (i) Seller sells, leases or exchanges a material portion of Seller’s assets,
(ii) Seller merges or consolidates with or into another Person, other than the Buyer, or (iii) a change in Control of Seller occurs;
or

 

(i)       upon
the occurrence of any other event constituting grounds for termination set forth in any other sections of this Agreement (including Section
6.3 and Section 17.21). Any termination under this Section 6.4 will be effective on Seller’s receipt of Buyer’s written Notice
of termination or such later date (if any) set forth in such termination Notice. Upon the occurrence of any of the events described under
this Section 6.4, Buyer may, in addition to any of its other rights to suspend performance under this Agreement or applicable Law, immediately
suspend its performance under all or any part of this Agreement, without any liability of Buyer to Seller, and, notwithstanding anything
to the contrary contained in this Agreement (including the limitations set forth in Section 11) Buyer may, at its election, recover any
and all direct and indirect actual and incidental damages (but not including consequential damages) and costs (including attorneys’
and other professionals’ fees and costs), expenses and losses incurred by Buyer as a result of any event described
under this Section 6.4 or any breach of this Agreement by Seller.

 

    12 

     

    

 

6.5           Seller’s
Right to Terminate for Cause. Seller may terminate this Agreement, by providing written Notice to Buyer:

 

(a)       if
Buyer is in material breach of any material representation, warranty or covenant of Buyer under this Agreement, and either the breach
cannot be cured or, if the breach can be cured, it is not cured by Buyer within a commercially reasonable period of time, in no case
exceeding sixty (60) days, after Buyer’s receipt of written Notice of such breach; or

 

(b)       if
Buyer (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due, (ii) files or has filed against
it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding
under any domestic or foreign bankruptcy or insolvency Law, (iii) makes or seeks to make a general assignment for the benefit of its
creditors, or (iv) applies for or has appointed a receiver, trustee, custodian or similar agent appointed by order of any court of competent
jurisdiction to take charge of or sell any material portion of its property or business.

 

Any
termination under this Section 6.5 will be effective on Buyer’s receipt of Seller’s written Notice of termination or such
later date (if any) set forth in such Notice.

 

6.6           Effect
of Expiration or Termination.

 

(a)       Immediately
upon the effectiveness of a Notice of termination delivered by Buyer to Seller hereunder (as stated in such Notice), Seller shall, unless
otherwise directed by Buyer, and subject to Seller’s obligation provide resourcing cooperation under Section 6.7:

 

(i)       promptly
terminate all performance under this Agreement and under any outstanding Purchase Orders;

 

(ii)       transfer
title and deliver to Buyer all finished Covered Products completed prior to effectiveness of the Notice of termination; and

 

(iii)       return
to Buyer all Bailed Property and any other property furnished by or belonging to Buyer or any of Buyer’s customers, or dispose
of such Bailed Property or other property in accordance with Buyer’s instructions (provided that Buyer will reimburse Seller for
the actual, reasonable costs associated with such disposal);

 

(b)       Except
for a termination as provided in Section 6.3 by reason of the consummation of the transactions set forth in the Share Purchase Agreement,
the expiration or termination of the Term will not affect any rights or obligations of the Parties that:

 

(i)       come
into effect upon or after termination or expiration of this

 

Agreement;
or

 

(ii)       otherwise
survive the expiration or earlier termination of this Agreement pursuant to Section 17.4 and were incurred by the Parties prior to such
expiration or earlier termination.

 

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(c)       Upon
the expiration or earlier termination of this Agreement, each Party

 

shall:

 

(i)       return
to the other Party all documents and tangible materials (and any copies) containing, reflecting, incorporating or based on the other
Party’s Confidential Information, and not retain any copies thereof;

 

(ii)       permanently
erase all of the other Party’s Confidential Information from its computer systems, except for copies that are maintained as archive
copies on its disaster recovery and/or information technology backup systems. Each Party shall destroy any such copies upon the normal
expiration of its backup files; and

 

(iii)       upon
the other Party’s written request, certify in writing to such other Party that it has complied with the requirements of this Section
6.6(c).

 

(d)       In
the case of the expiration of this Agreement or automatic termination under Section 6.3, neither Party, will be liable to the other Party
for any damage of any kind (whether direct or indirect) incurred by the other Party by reason of the expiration or earlier termination
of this Agreement, subject only to Section 6.7 below. Except as provided in Section 6.3, termination of this Agreement will not constitute
a waiver of any of the terminating Party’s rights or remedies/either Party’s rights, remedies or defenses under this Agreement,
at law, in equity or otherwise.

 

6.7           Resourcing
Cooperation. Upon the expiration or earlier termination of this Agreement for any reason, to the extent requested by Buyer in writing,
Seller will take the following actions and such other actions as may be reasonably required by Buyer to transition production of Covered
Products from Seller to an alternative seller without production disruptions:

 

(a)       manufacture,
deliver and sell to Buyer a sufficient inventory bank of Covered Products to ensure that the transition will proceed smoothly and without
interruption or delay to Buyer’s or Buyer’s customers’ production of products incorporating the Covered Products, with
pricing equivalent to the pricing in effect immediately before expiration or termination;

 

(b)       sell
to Buyer, at Seller’s actual cost, any or all work-in-process and any raw-materials inventory relating to this Agreement and any
outstanding Purchase Orders; and

 

(c)       sell
to Buyer any or all finished Covered Products.

 

7.           
Certain Obligations of Seller.

 

7.1           Quality.

 

(a)       Seller
shall meet or exceed Buyer’s quality standards for the Covered Products as adopted by Buyer from time to time, and which are provided
by Buyer to Seller in writing. At Buyer’s request, Seller shall furnish to Buyer test samples of Covered Products as reasonably
required by Buyer to determine if their manufacture is in accordance with the Specifications furnished by Buyer and Buyer’s quality
standards. Seller shall perform quality inspections of Covered Products before delivery and shall certify inspection results in the manner
requested by Buyer. If the Covered Products are found by Buyer, in Buyer’s reasonable discretion, to be in compliance with Buyer’s
quality standards for such Covered Products, subject to audit by Buyer, Buyer will promptly reimburse Seller for Seller’s reasonable,
out-of-pocket costs incurred in complying with this Section 7.1(a).

 

    14 

     

    

 

(b)       Seller
shall work together with Buyer to achieve global process improvements in the areas of quality, responsiveness, delivery, and cost. At
Buyer’s request, Seller’s Representatives shall meet with Buyer’s Representatives to review the progress made on these
objectives.

 

(c)       Seller
shall provide reasonable support as requested by Buyer to address and correct quality concerns. In addition to its other rights and remedies,
Buyer may hold Seller responsible for costs associated with quality-issue investigation and containment to the extent caused by Seller’s
acts or omissions.

 

(d)       Seller
shall, on a continuous basis, identify ways to improve the quality, service, performance standards and technology for the Covered Products,
including through participation in Buyer’s quality improvement initiatives.

 

7.2            Protection
Against Supply Interruptions. Seller shall, at Seller’s sole cost and expense, take such actions as are necessary or appropriate
to ensure the uninterrupted supply of Covered Products to Buyer for not less than ninety (90) days during any foreseeable or anticipated
event or circumstance that could interrupt or delay Seller’s performance under this Agreement, including any labor disruption,
whether or not resulting from the expiration of Seller’s labor contracts (and whether or not such occurrence constitutes a Force
Majeure Event hereunder). Seller shall notify Buyer at least 30 days before the termination or expiration of any collective bargaining
or other labor agreement that relates to Seller’s Personnel involved in the production or delivery of the Covered Products.

 

7.3            Duty
to Advise. Seller shall promptly provide written Notice to Buyer of any of the following events or occurrences, or any facts or circumstances
reasonably likely to give rise to any of the following events or occurrences: (a) any failure by Seller to perform any of its obligations
under this Agreement; (b) any delay in delivery of Covered Products; (c) any defects or quality problems relating to Covered Products;
(d) any change in Control of Seller; (e) any deficiency in Buyer specifications, samples, prototypes or test results relating to this
Agreement; or (f) any failure by Seller, or its subcontractors or common carriers, to comply with Law. In addition, Seller shall promptly
notify Buyer in writing of any change in Seller’s authorized Representatives, insurance coverage or professional certifications.

 

7.4           Seller’s
Financial Condition.

 

(a)       Each
acceptance of a Purchase Order/delivery of Covered Products by Seller will constitute Seller’s representation and warranty that
Seller is not insolvent on a balance sheet basis, is paying all debts as they become due, is in compliance with all loan covenants and
other obligations to which it is subject, and that all financial information provided to Buyer concerning Seller is true and accurate,
fairly represents Seller’s financial condition, and has been prepared in accordance with GAAP, uniformly and consistently applied.

 

(b)       Seller
shall furnish Buyer with statements accurately and fairly evidencing Seller’s financial condition as Buyer may, from time to time,
reasonably request.

 

(c)       Seller
shall promptly notify Buyer, in writing, of any and all events that have had or may have a material adverse effect on Seller’s
business or financial condition, including any change in management, sale, lease or exchange of a material portion of Seller’s
assets, a change in Control of Seller, or the breach of any loan covenants or other material obligations of Buyer to iu

 

    15 

     

    

 

8.             Intellectual
Property and Formulations. With respect to the Formulations and certain flavor line extensions, the Parties hereto agree
that, throughout the Term of this Agreement and thereafter:

 

 

8.1           Elegance
owns and shall continue to own all right, title and interest in and to all brands, Buyer Intellectual Property and Formulations with
respect to Elegance Vodka brand of Covered Products;

 

8.2            In
consideration for the payment of USD $15,000 by August 15, 2020, as of the Effective Date of this Agreement, ABS shall sell to Elegance,
and Elegance shall purchase from ABS, all right, title and interest in and to all Seller Intellectual Property and any and all Formulations
possessed by Seller with respect to Australis Gin brand of Covered Products;

 

8.3           As
of the Effective Date of this Agreement, ABS shall sell to Elegance, and Elegance shall purchase from ABS, all right, title and interest
in and to all Seller Intellectual Property and each of the Formulations for the Twisted Shaker brand of Covered Products
possessed by Seller, in consideration for the payment by August 15, 2020, of USD $10,000 for each of the Formulations possessed by Seller
with respect to such brand of Covered Products; and

 

8.4           As
of the Effective Date of this Agreement, ABS shall sell to Elegance, and Elegance shall purchase from ABS, all right, title and interest
in and to all brands, line extensions, Seller Intellectual Property and each of the Formulations and flavor line extensions possessed
by Seller with respect to the six BevMart Products sold and to be sold, in consideration for the payment
by August 15, 2020, of USD $10,000 for each of the Formulations (other than flavor line extensions) and USD $3,500 for each of the flavor
line extensions.

 

9.           
Bitter Tales and VOCO Licenses and Purchase Option.

  

9.1           The
Parties hereto do hereby agree that during the entire Term of this Agreement and for a period of 90 days following termination of this
Agreement for any reason, other than (i) an automatic termination pursuant to Section 6.3, (ii) or a termination by Seller for Cause
as contemplated by Section 6.5, ABS hereby grants to Elegance, in consideration for a paid up royalty of USD$40,000 to be paid on or
before August 15, 2020, an irrevocable and exclusive right and perpetual, license, with the right to grant sublicenses, to make, use
and sell all Formulations with respect to the Bitter Tales brand of alcoholic products within the USA and other countries
located in the Buyer’s Territory (the “Bitters Tales License”).

 

9.2           In
addition to the Bitters Tales License, upon the termination of this Agreement, for any reason other than (i) an automatic termination
pursuant to Section 6.3, or (ii) a termination by Seller for Cause as contemplated by Section 6.5, the Seller hereby agrees to grant
to the Buyer an exclusive and irrevocable right and option (the “Bitters Tales Purchase Option”) to purchase (i) all
of the Seller’s Intellectual Property and Formulations for the Bitters Tales brand, plus (ii) all of the nine (9)
Formulations for the Australian Bitters Company brands currently owned by ABS, in consideration for the payment to the
Seller of the sum of USD$2,000,000 (the Bitters Tales Option Price”). Exercise of the Bitters Tales Option and payment of
the Bitters Tales Option Price may be made by the Buyer at any time within 90 days following termination of this Agreement for any reason,
other than an automatic termination pursuant to Section 6.3, or a termination by Seller for Cause as contemplated by Section 6.5.

 

9.3           With
respect to the VOCO brand of alcoholic products owned by the Seller, as of the Effective Date, the Seller hereby grants to
the Buyer, in consideration for the payment of an ongoing 10% royalty on net sales of all VOCO brands and products, the
non-exclusive right and license during the Term of this Agreement, with the right to grant sublicenses, to use the Seller
Intellectual Property and all existing Formulations owned by Seller to make, use and sell the VOCO brand of alcoholic products in
the United States, its territories and possessions. In the event the Buyer shall, during the Term of this Agreement, seek to create
any new VOCO Formulations and brands for sale, subject at all times to the prior written approval of the Seller, the Buyer shall
retain the new Formulations and related Intellectual Property relating to such new VOCO brands for the duration of this
Agreement.

  

    16 

     

    

 

10.         
Australian Bitters Company.

 

10.1         The
Seller shall sell to the Buyer and the Buyer shall purchase from the Seller all of Seller’s right, title and interest in and to
all brands, line extensions, and flavor line extensions possessed by Seller with respect to the Australian Bitters Company brand
for sale and distribution of such Covered Product in the USA, its territories and possessions. The Buyer hereby agrees that in each Anniversary
Year during the Term of this Agreement, the Buyer shall purchase Australian Bitters Company products at a fixed Price of
USD$60.00 per case.

 

10.2         The
Buyer further agrees that it shall sell and distribute Australian Bitters Company alcoholic products and liqueurs only
in the USA, its territories and possession. If Buyer violates the provisions of this Section 10.2, in addition to any other rights or
remedies available to it, the Seller may terminate this Agreement for Cause pursuant to Section 6.5.

 

10.3         Buyer
shall have the sole and exclusive right to sell and distribute Australian Bitters Company alcoholic products and liqueurs
in the USA, its territories and possession, using Amazon U.S.A. and other distribution channels.

 

10.4         To
the extent available, the Buyer shall initially purchase all available inventory of Australian Bitters Company alcoholic
products and liqueurs for distribution in the USA Territory from Europa Group USA, an importer and the exclusive brand distributor of
Seller’s products in the USA. To the extent such inventory is not available from Europa Group USA, Buyer shall purchase such inventory
directly from Seller in the amounts and at the Prices set forth in Section 10.1 above.

 

11.         
Compliance with Laws.

  

11.1         Compliance.
Seller shall at all times comply with all Laws applicable to this Agreement, Seller’s operation of its business and the exercise
of its rights and performance of its obligations hereunder. Without limitation of the foregoing, Seller shall ensure the Covered Products
and any related packaging, conform fully to any applicable Law. Upon Buyer’s reasonable request, Seller shall provide Buyer with
(a) written certification of Seller’s compliance with applicable Laws; (b) written certification of the origin of any ingredients
or materials in the Covered Products; and (c) any additional information regarding the Covered Products requested by Buyer such that
Buyer may comply in a timely manner with its obligations under Law.

 

11.2         Permits,
Licenses, and Authorizations. Seller shall obtain and maintain all Permits necessary for the exercise of its rights and performance
of Seller’s obligations under this Agreement, including any Permits required for the import of Covered Products or any raw materials
and other manufacturing parts used in the production and manufacture of the Covered Products, and the shipment of hazardous materials,
as applicable.

 

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12.         
Representations and Warranties; Product Warranty.

  

12.1         Seller’s
Representations and Warranties. Seller represents and warrants to Buyer

 

that:

(a)       it
is a private corporation, duly organized, validly existing and in good standing under the laws of Australia;

 

(b)       it
is duly qualified to do business and is in good standing in every jurisdiction in which such qualification is required for purposes of
this Agreement , except where the failure to be so qualified, in the aggregate, could not reasonably be expected to adversely affect
its ability to perform its obligations under this Agreement;

 

(c)       it
has the full right, corporate power and authority to enter into this Agreement and to perform its obligations hereunder;

 

(d)       the
execution of this Agreement by its Representative whose signature is set forth at the end of this Agreement, and the delivery of this
Agreement by Seller, have been duly authorized by all necessary corporate action on the part of Seller;

 

(e)       the
execution, delivery, and performance of this Agreement by Seller will not violate, conflict with, require consent under or result in
any breach or default under (i) any of Seller’s organizational documents (including its articles of incorporation and memorandum
of incorporation), (ii) any applicable Law or (iii) with or without notice or lapse of time or both, the provisions of any material Seller
Contract;

 

(f)       this
Agreement has been executed and delivered by Seller and (assuming due authorization, execution and delivery by Buyer) constitutes the
legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, except as may be limited by any
applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws and equitable principles related to or affecting creditors’
rights generally or the effect of general principles of equity;

 

(g)       it
is in material compliance with all applicable Laws and Seller Contracts relating to this Agreement, the Covered Products and the operation
of its business (including all loan covenants and other financing obligations to which it is subject);

 

(h)       it
has obtained all material licenses, authorizations, approvals, consents or permits required by applicable Laws to conduct its business
generally and to exercise its rights and perform its obligations under this Agreement;

 

		(i)	it
                                            is not insolvent and is paying all of its debts as they become due; and

 

(j)       all
financial information that it has provided to Buyer is true and accurate and fairly represents Seller’s financial condition, and
has been prepared in accordance with GAAP, uniformly and consistently applied.

 

12.2         Buyer’s
Representations and Warranties. Buyer represents and warrants to Seller

 

that:

 

(a)       it
is a corporation, duly organized, validly existing and in good standing under the laws of the State of Delaware;

 

(b)       it
is duly qualified to do business and is in good standing in every jurisdiction in which such qualification is required for purposes
of this Agreement, except where the failure to be so qualified, in the aggregate, would not reasonably be expected to
adversely affect its ability to perform its obligations under this Agreement;

  

    18 

     

    

 

(c)       it
has the full right, corporate power and authority to enter into this Agreement and to perform its obligations hereunder;

 

(d)       the
execution of this Agreement by its Representative whose signature is set forth at the end of this Agreement, and the delivery of this
Agreement by Buyer, have been duly authorized by all necessary corporate action on the part of Buyer; and

 

(e)       the
execution, delivery, and performance of this Agreement by Buyer will not violate, conflict with, require consent under or result in any
breach or default under (i) any of Buyer’s organizational documents (including its Certificate of Incorporation and By-laws, (ii)
any applicable Law or (iii) with or without notice or lapse of time or both, the provisions of any material Buyer Contract; and

 

(f)       this
Agreement has been executed and delivered by Buyer and (assuming due authorization, execution, and delivery by Seller) constitutes the
legal, valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms, except as may be limited by any
applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws and equitable principles related to or affecting creditors’
rights generally or the effect of general principles of equity.

 

12.3         Product
Warranty. Seller warrants to Buyer and any end users of the Covered Products that (the “Product Warranty”):

 

(a)       for
the period provided by applicable law[, or for such longer period as provided by Buyer to its customers or any end users], the Covered
Products will:

 

(i)            conform,
in all material respects, to the Specifications/specifications, standards, drawings, samples, descriptions, quality requirements, performance
requirements, statements of work, and fit, form and function requirements furnished, specified or approved by Buyer for the Covered Products;

 

		(ii)	conform
                                            with Buyer’s quality standards;

 

(iii)          be
merchantable (as such term is defined in the UCC) and free from defects, latent or otherwise, in design, materials, and workmanship;

 

		(iv)	not
                                            infringe upon, violate or misappropriate the Intellectual

 

Property
Rights of any Person;

 

(v)           be
fit and sufficient for the particular purpose intended by Buyer and its customers, of which the Seller is aware (and Seller acknowledges
that it knows of Buyer’s intended use of the Covered Products and that such Covered Products have been selected, designed, manufactured
or assembled by Seller based upon Buyer’s stated use and will be fit and sufficient for the particular purposes intended by Buyer);
and

 

		(vi)	comply
                                            with all applicable Laws.

 

    19 

     

    

 

(b)       each
of the Covered Products will be new and conveyed by Seller to Buyer with good title, free and clear of all Encumbrances.

 

12.4         Additional
Terms. The Product Warranty (a) is in addition to all other warranties, express, implied, statutory and common law, (b) extends to
the Covered Products’ future performance, (c) survives Seller’s delivery of the Covered Products, Buyer’s receipt,
inspection, acceptance, use of the Covered Products and payment for the Covered Products, and the termination or expiration of this Agreement,
(d) inures to the benefit of Buyer and its successors and assigns and the end users of Buyer’s Covered Products, and (e) may not
be limited or disclaimed by Seller. Buyer’s approval of Seller’s Formulations and Specifications will not be construed to
relieve Seller of any warranties. Any applicable statute of limitations on Buyer’s claims for breach of warranty will commence
no earlier than the date on which Buyer discovers the breach.

 

12.5         Withdrawal
or Recall of Covered Products. If Buyer, any of Buyer’s customers or any Governmental Authority determines that any Covered
Products sold to Buyer are Defective and a recall campaign is necessary, Buyer will have the right to implement such recall campaign
and return Defective Covered Products to Seller or destroy such Covered Products, as determined by Buyer in its reasonable discretion,
at Seller’s sole cost and risk. If a recall campaign is implemented, at Buyer’s option and Seller’s sole cost, Seller
shall promptly replace any Defective Covered Products and provide such replacement Covered Products to Buyer or Buyer’s designee.
The foregoing will apply even if the Product Warranty and any other product warranty applicable to the Covered Products have expired.
Seller will be liable for all of Buyer’s costs associated with any recall campaign if such recall campaign is based upon a reasonable
determination that the Covered Products fail to conform to the warranties set forth in this Agreement. Where applicable, Seller shall
pay all reasonable expenses associated with determining whether a recall campaign is necessary.

 

13.         
Indemnification.

  

13.1         Indemnification.
Subject to the terms and conditions of this Agreement, Seller (as “Indemnifying Party”) shall indemnify, defend and
hold harmless the Buyer and its Representatives/officers, directors, employees, agents, Affiliates, successors and permitted assigns
(collectively, “Indemnified Parties”) against any and all losses, damages, liabilities, deficiencies, claims, actions,
judgments, settlements, interest, awards, penalties, fines, costs, or expenses of whatever kind, including reasonable attorneys’
fees, fees and the costs of enforcing any right to indemnification under this Agreement and the cost of pursuing any insurance providers,
incurred by any Indemnified Party (collectively, “Losses”), relating to/arising out or resulting from any third-party
Claim or any direct Claim against Indemnifying Party alleging:

 

(a)       a
material breach or non-fulfillment of any of Indemnifying Party’s representations, warranties, or covenants set forth in this Agreement;

 

(b)       any
grossly negligent or more culpable act or omission of Indemnifying Party or any of its Representatives (including any recklessness or
willful misconduct) in connection with Indemnifying Party’s performance under this Agreement;

 

(c)       any
bodily injury, death of any Person or damage to real or tangible personal property caused by the willful or negligent acts or omissions
of Indemnifying Party or any of its Representatives; or

 

(d)       any
failure by Indemnifying Party or its Personnel to materially comply with any applicable Laws; or

 

    20 

     

    

 

(e)       that
any of Indemnifying Party’s Intellectual Property used in the design or production of the Covered Products, or that is embodied
in the Covered Products, infringes any Intellectual Property Right of a third party; provided, however, that, without limitation of anything
contained in Section 13.2, Indemnifying Party has no obligations under this Section 13.1(e) with respect to Claims to the extent arising
out of:

 

(i)       any
Specifications, raw materials, manufacturing parts or other materials provided by any Indemnified Party;

 

(ii)       Indemnified
Party’s marketing, advertising, promotion or sale or any product containing the Covered Products;

 

(iii)       use
of the Covered Products, including use of the Covered Products in combination with any products, materials or equipment supplied to Buyer
by a Person other than Indemnified Party or its authorized Representatives, if the infringement would have been avoided by the use of
the Covered Products or use of the Covered Products not so combined;

 

(iv)       any
modifications or changes made to the Covered Products by or on behalf of any Person other than Indemnifying Party or its Representatives,
if the infringement would have been avoided without such modification or change; or

 

(v)       goods
(including Covered Products), products or assemblies manufactured or designed by Indemnified Party.

 

13.2         Exceptions
and Limitations on Indemnification. Notwithstanding anything to the contrary in this Agreement, Indemnifying Party is not obligated
to indemnify or defend any Indemnified Party against any Claim or corresponding Losses resulting directly from, in whole or in part,
Indemnified Party’s or its personnel, Representatives or Affiliates:

 

(a)       gross
negligence or more culpable act or omission (including recklessness or willful misconduct); or

 

		(b)	bad
                                            faith failure to materially comply with any of its obligations set

 

forth
in this Agreement.

 

14.           NO
LIABILITY FOR CONSEQUENTIAL OR INDIRECT DAMAGES. EXCEPT FOR LIABILITY FOR INDEMNIFICATION, LIABILITY FOR BREACH OF CONFIDENTIALITY,
OR LIABILITY FOR INFRINGEMENT OR MISAPPROPRIATION OF INTELLECTUAL PROPERTY RIGHTS, IN NO EVENT SHALL EITHER PARTY OR THEIR REPRESENTATIVES
BE LIABLE FOR CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR ENHANCED DAMAGES, LOST PROFITS OR REVENUES OR DIMINUTION
IN VALUE, ARISING OUT OF OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF

 

(A)
WHETHER SUCH DAMAGES WERE FORESEEABLE, (B) WHETHER OR NOT IT WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND (C) THE LEGAL OR EQUITABLE
THEORY (CONTRACT, TORT OR OTHERWISE) UPON WHICH THE CLAIM IS BASED, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF
ITS ESSENTIAL PURPOSE.

 

    21 

     

    

  

15.         
Intellectual Property.

 

15.1         Ownership.
Each of the Parties acknowledges and agrees that:

 

(a)       Except
for the license of certain Seller Intellectual Property to Buyer as contemplated by this Agreement, each Party retains exclusive ownership
of its own Intellectual Property Rights;

 

(b)       Buyer
does not transfer to Seller any of its Intellectual Property Rights, and Seller may not use any of Buyer’s Intellectual Property
Rights other than to produce and supply Covered Products to Buyer hereunder;

 

(c)       Except
for the license of certain Seller Intellectual Property to Buyer as contemplated by this Agreement (which shall immediately become Buyer
Intellectual Property and shall survive the termination of this Agreement), Seller does not transfer to Buyer any of Seller’s Intellectual
Property Rights, except that Seller grants to Buyer and its customers the right to resell Covered Products or incorporate Covered Products
purchased from Seller into finished goods and to sell such finished goods to its customers; and

 

(d)       Seller
waives any claim against Buyer, including any hold-harmless or similar claim, whether known or unknown, contingent or latent, in any
way related to a claim asserted against Seller or Buyer for infringement of any Seller Intellectual Property sold, transferred and assigned
to Buyer pursuant to this Agreement, all of which shall be deemed to be Buyer Intellectual Property for all purposes.

 

15.2         Prohibited
Acts. Each of the Parties shall not:

 

(a)       take
any action that may interfere with the other Party’s Intellectual Property Rights, including such other Party’s ownership
or exercise thereof;

 

(b)       challenge
any right, title or interest of the other Party in such other Party’s Intellectual Property

 

		(c)	Rights;

 

(d)       make
any claim or take any action adverse to such other Party’s ownership of its Intellectual Property Rights;

 

(e)       register
or apply for registrations, anywhere in the world, the other Party’s Trademarks or any other Trademark that is similar to such
other Party’s Trademarks or that incorporates such Trademarks in whole or in confusingly similar part;

 

		(f)	use
                                            any mark, anywhere, that is confusingly similar to the other Party’s

 

Trademarks;

 

(g)       misappropriate
any of the other Party’s Trademarks for use as a domain name without such other Party’s prior written consent; or

 

(h)       alter,
obscure or remove any of the other Party’s Trademarks or trademark or copyright notices or any other proprietary rights notices
placed on the products purchased under this Agreement (including Covered Products), marketing materials or other materials.

 

    22 

     

    

 

15.3         Perpetual
License of Seller’s Intellectual Property Rights. Seller grants to Buyer an irrevocable, non-exclusive, worldwide, perpetual,
royalty-free and paid up license, with the right to grant sublicenses, to use Seller’s Intellectual Property Rights to produce,
use, sell and to obtain, from alternate sources, the Covered Products and products and services similar to the Covered Products (including
Formulations) following the expiration or earlier termination of this Agreement and in connection with Buyer’s rights hereunder
to purchase Covered Products from an alternative source at any time during or subsequent to the expiration of the Term hereof or termination
of this Agreement.

 

16.          Seller’s
Property. Unless otherwise agreed to by Buyer in writing, Seller, at its sole expense, shall furnish, keep in good condition,
and replace when necessary all Equipment, tooling and other items of tangible personal property that is necessary or helpful for the
production of the Covered Products (“Seller’s Property”). Seller shall insure Seller’s Property with full
and extended coverage for all losses, for its full replacement value.

 

17.          Inspection
and Audit Rights. Seller hereby grants to Buyer, and each of its authorized Representatives, access to Seller’s premises
(including Seller’s manufacturing operations used in production of the Covered Products) and all pertinent documents and other
information, whether stored in tangible or intangible form, including any books, records, and accounts, in any way related to Seller’s
performance under this Agreement (including Sellers’ processes and procedures), Covered Products, or any payment or other transaction
occurring in connection with this Agreement, for the purpose of auditing Seller’s compliance with the terms of this Agreement and
any other agreements between Buyer and Seller, including Seller’s charges for Covered Products, or inspecting or conducting an
inventory of finished Covered Products, work-in-process or raw-material inventory or Bailed Property; provided that any physical inventory
inspection may take place no more frequently than semi-annually. Seller agrees to cooperate fully with Buyer in connection with any such
audit or inspection. Seller shall maintain, during the Term and for a period of three (3) years after the Term, complete and accurate
books and records and any other financial information in accordance with GAAP. Seller shall segregate its records and otherwise cooperate
with Buyer so as to facilitate any audit by Buyer. Seller shall reimburse Buyer for all amounts associated with errors discovered during
an auditIf requested by Buyer, Seller shall use its commercially reasonable efforts to permit Buyer and its Representatives to obtain
from subcontractors or other suppliers to Seller the information and permission to conduct the reviews specified with respect to Seller
in this Section 17.

 

18.          Insurance.
During the Term of this Agreement and for a period of three (3) years after the expiration or termination of this Agreement, Seller
shall, at its own expense, maintain and carry in full force and effect, subject to appropriate levels of self-insurance, commercial general
liability insurance (including product liability) in a sum no less than $2,000,000, all-risk property insurance covering all of Seller’s
Property, including Equipment, for its full replacement value, and business interruption insurance; in each case, with financially sound
and reputable insurers. Upon Buyer’s request, Seller shall provide Buyer with a certificate of insurance evidencing the insurance
coverage specified in this Section. The certificate of insurance shall name Buyer as an additional insured and loss payee. Seller shall
provide Buyer with thirty (30) days’ advance written notice in the event of a cancellation or material change in such insurance
policy. Seller waives and Seller shall cause its insurers to waive, any right of subrogation or other recovery against Buyer, its Affiliates,
and their insurers.

 

    23 

     

    

 

19.         
Miscellaneous.

  

19.1         Further
Assurances. Upon a Party’s reasonable request, the other Party shall, at its sole cost and expense, execute and deliver all
such further documents and instruments, and take all such further acts, necessary to give full effect to this Agreement.

 

19.2         Relationship
of the Parties. The relationship between Seller and Buyer is solely that of vendor and vendee and they are independent contracting
parties. Nothing in this Agreement creates any agency, joint venture, partnership or other form of joint enterprise, employment or fiduciary
relationship between the Parties. Neither Party has any express or implied right or authority to assume or create any obligations on
behalf of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any third party.

 

19.3         Entire
Agreement. This Agreement, including and together with any related exhibits, schedules and the applicable terms of any Purchase Orders,
constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein and therein, and supersedes
all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such
subject matter.

 

19.4         Survival.
Subject to the limitations and other provisions of this Agreement, the representations and warranties of the Parties contained herein
will survive the expiration or earlier termination of this Agreement; as well as any other provision that, in order to give proper effect
to its intent, should survive such expiration or termination, will survive the expiration or earlier termination of this Agreement.

 

19.5         Notices.
All notices, requests, consents, claims, demands, waivers and other communications under this Agreement (each, a “Notice”)
must be in writing and addressed to the other Party at its address set forth below (or to such other address that the receiving Party
may designate from time to time in accordance with this section). All Notices must be delivered by personal delivery, nationally recognized
overnight courier or certified or registered mail (in each case, return receipt requested, postage prepaid). Notwithstanding the foregoing,
notice by facsimile or email (with confirmation of transmission) will satisfy the requirements of this Section 19.5. Except as otherwise
provided in this Agreement, a Notice is effective only (a) on receipt by the receiving Party, and (b) if the Party giving the Notice
has complied with the requirements of this Section.

 

	Notice to Seller:	Australian Boutique Spirits Pty Ltd.
 29 Anvil Rd, Seven Hills, 
 NSW 2147, Australia
 Attn: Sahil Beri, Director 
 Email: sahil@australianboutiquespirits.com
	Notice to Buyer:	 
	 	Elegance Brands, Inc. 
 9100 Wilshire Blvd, Suite 362W 
 Los Angeles, California 90212
 Telephone (424) 313-7471 
 Attn: Raj Beri, Chief Executive Officer
 Email: raj@elegance-brands.com

 

19.6         Interpretation.
For purposes of this Agreement: (a) the words “include,” “includes” and “including” is deemed to
be followed by the words “without limitation”; (b) the word “or” is not exclusive; (c) the words
“herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this
Agreement as a whole; (d) words denoting the singular have a comparable meaning when used in the plural, and vice-versa; and (e)
words denoting any gender include all genders. Unless the context otherwise requires, references in this Agreement: (x) to sections,
exhibits, schedules, attachments, and appendices mean the sections of, and exhibits, schedules, attachments and appendices
attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as
amended, supplemented and modified from time to time to the extent permitted by the provisions thereof; and (z) to a statute means
such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder.
The Parties drafted this Agreement without regard to any presumption or rule requiring construction or interpretation against the
Party drafting an instrument or causing any instrument to be drafted. The exhibits, schedules, attachments, and appendices referred
to herein are an integral part of this Agreement to the same extent as if they were set forth verbatim herein.

 

    24 

     

    

 

19.7         Headings.
The headings in this Agreement are for reference only and do not affect the interpretation of this Agreement.

 

19.8         Severability.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability
does not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other
jurisdiction. Upon a determination that any term or provision is invalid, illegal or unenforceable, the Parties shall negotiate in good
faith to modify this Agreement to effect the original intent of the Parties as closely as possible in order that the transactions contemplated
hereby be consummated as originally contemplated to the greatest extent possible.

 

19.9         Amendment
and Modification. No amendment to or rescission, termination or discharge of this Agreement is effective unless it is in writing,
identified as an amendment to or rescission, termination or discharge of this Agreement and signed by an authorized Representative of
each Party.

 

19.10       Waiver.

 

(a)       No
waiver under this Agreement is effective unless it is in writing, identified as a waiver to this Agreement and signed by an authorized
representative of the Party waiving its right.

 

(b)       Any
waiver authorized on one occasion is effective only in that instance and only for the purpose stated, and does not operate as a waiver
on any future occasion.

 

(c)       None
of the following constitutes a waiver or estoppel of any right, remedy, power, privilege or condition arising from this Agreement:

 

(i)       any
failure or delay in exercising any right, remedy, power or privilege or in enforcing any condition under this Agreement; or

 

(ii)       any
act, omission or course of dealing between the Parties.

 

19.11       Cumulative
Remedies. All rights and remedies provided in this Agreement are cumulative and not exclusive, and the exercise by either Party of
any right or remedy does not preclude the exercise of any other rights or remedies that may now or subsequently be available at law,
in equity, by statute, in any other agreement between the Parties or otherwise.

 

    25 

     

    

  

19.12       Assignment.
Seller may not assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of
Buyer. Buyer may assign any of its rights or delegate any of its obligations to any Person/any Affiliate or to any Person acquiring all
or substantially all of Buyer’s assets or securities, whether by asset purchase, merger or like consolidation or combination. Any
purported assignment or delegation in violation of this Section is null and void. No assignment or delegation relieves the assigning
or delegating Party of any of its obligations under this Agreement.

 

19.13       Successors
and Assigns. This Agreement is binding on and inures to the benefit of the Parties and their respective permitted successors and
permitted assigns.

 

19.14       No
Third-Party Beneficiaries. Except as otherwise contemplated by the indemnification provisions hereof with respect to the Indemnified
Parties, this Agreement benefits solely the parties to this Agreement and their respective permitted successors and permitted assigns
and nothing in this Agreement, express or implied, confers on any other Person any legal or equitable right, benefit or remedy of any
nature whatsoever under or by reason of this Agreement. The Parties hereby designate each Indemnified Party as a third-party beneficiary
of the Buyer Party and any end users of the Covered Products as third-party beneficiaries having the right to enforce the Indemnification
provisions of this Agreement.

 

19.15       Dispute
Resolution. Any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity
hereof (each, a “Dispute”), shall be submitted for negotiation and resolution to the ABS Shareholder (or to such other
person of equivalent position designated by Seller in a written Notice to Buyer) and the Chief Financial Officer of Buyer (or to such
other person of equivalent or superior position designated by Buyer in a written Notice to Seller), by delivery of written Notice (each,
a “Dispute Notice”) from either of the Parties to the other Party. Such persons shall negotiate in good faith to resolve
the Dispute. If the Parties are unable to resolve any Dispute within 30 days days after delivery of the applicable Dispute Notice, either
Party shall submit the Dispute to final and binding arbitration before a single arbitrator pursuant to the JAMS Dispute Resolution procedures.
Such arbitration shall be held in Los Angeles, California and the final decision and award of the arbitrator may enforced in n a court
of competent jurisdiction in accordance with the provisions of Section 19.17 hereunder.

 

19.16       Governing
Law. This Agreement, including all exhibits, schedules, attachments and appendices attached hereto and thereto, and all matters arising
out of or relating to this Agreement, are governed by, and construed in accordance with, the Laws of the State of California, United
States of America, without regard to the conflict of laws provisions thereof. The Parties agree that the United Nations Convention on
Contracts for the International Sale of Covered Products does not apply to this Agreement.

 

19.17       Choice
of Forum. Each Party irrevocably and unconditionally agrees that the decision and award of the arbitrator shall be enforced in
either or both of the United States District Court of the Southern District of California (Los Angeles) and in the Federal
Court of Australia, and/or the Federal Circuit Court of Australia located in Sydney Australia (collectively, the
“Approved Forums”). Each party agrees that it shall not commence any action, litigation or proceeding of any kind
whatsoever against the other Party in any way arising from or relating to this Agreement, including all exhibits, schedules,
attachments and appendices attached hereto and thereto, and all contemplated transactions, including contract, equity, tort, fraud,
and statutory claims, in any forum other than the Approved Forums, and any appellate court from any thereof. Each Party irrevocably
and unconditionally submits to the exclusive jurisdiction of the Approved Forums. Each Party agrees that a final judgment in any
such action, litigation or proceeding is conclusive and may be enforced in other jurisdictions by suit on the judgment or in
any other manner provided by Law.

 

    26 

     

    

 

19.18       Waiver
of Jury Trial. Each Party acknowledges and agrees that any controversy that may arise under this Agreement, including any exhibits,
schedules, attachments, and appendices attached to this Agreement, is likely to involve complicated and difficult issues and, therefore,
each such Party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any legal action arising
out of or relating to this Agreement, including any exhibits, schedules, attachments, and appendices attached to this Agreement, or the
transactions contemplated hereby. Each Party certifies and acknowledges that (a) no Representative of the other Party has represented,
expressly or otherwise, that such other Party would not seek to enforce the foregoing waiver in the event of a legal action, (b) such
Party has considered the implications of this waiver, (c) such Party makes this waiver voluntarily, and (d) such Party has been induced
to enter into this Agreement by, among other things, the mutual waivers and certifications in this Section.

 

19.19       Counterparts.
This Agreement may be executed in counterparts, each of which is deemed an original, but all of which together is deemed to be one and
the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission is deemed
to have the same legal effect as delivery of an original signed copy of this Agreement, if the party sending such facsimile, e-mail or
other means of electronic transmission has received express confirmation that the recipient party received the Agreement (not merely
an electronic facsimile confirmation or automatic email reply).

 

19.20       Force
Majeure. Any delay or failure of either Party to perform its obligations under this Agreement will be excused to the extent that
the delay or failure was caused directly by an event beyond such Party’s control, without such Party’s fault or negligence
and that by its nature could not have been foreseen by such Party or, if it could have been foreseen, was unavoidable (which events may
include natural disasters, embargoes, explosions, riots, wars or acts of terrorism) (each, a “Force Majeure Event”).
Seller’s financial inability to perform, changes in cost or availability of materials, components or services, market conditions
or supplier actions or contract disputes will not excuse performance by Seller under this Section 19.20. Seller shall give Buyer prompt
written notice of any event or circumstance that is reasonably likely to result in a Force Majeure Event and the anticipated duration
of such Force Majeure Event. Seller shall use all diligent efforts to end the Force Majeure Event, ensure that the effects of any Force
Majeure Event are minimized and resume full performance under this Agreement. During any Force Majeure Event, Buyer may, at its option
(a) purchase Covered Products from other sources and reduce the quantities hereunder by such quantities without liability to Seller,
and require Seller to reimburse Buyer for any additional costs to Buyer of obtaining the substitute goods compared to the Prices for
such Covered Products under this Agreement, (b) require Seller to deliver to Buyer all finished Covered Products, work in process or
parts and materials produced or acquired for work under this Agreement, or (c) require Seller to provide Covered Products from other
sources in quantities and at a time requested by Buyer and at the Prices for the Covered Products hereunder. If requested by Buyer, Seller
shall, within 30 days of such request, provide adequate assurances that a Force Majeure Event will not exceed 90 days. If the delay lasts
more than such 90-day period, or if Seller does not provide such adequate assurances, Buyer may immediately terminate this Agreement
without any liability to Seller. The rights granted to Seller with respect to excused delays under this Section 19.20 are intended to
limit Seller’s rights under theories of force majeure, commercial impracticability, impracticability or impossibility of performance,
or failure of presupposed conditions or otherwise, including any rights arising under Section 2-615 or 2-616 of the UCC.

 

    27 

     

    

 

Balance
of page intentionally left blank – signature page follows

 

       IN
WITNESS WHEREOF, the Parties have duly executed this Agreement as of the Effective Date first above written 

  

	 	BUYER:
	 	 
	 	Elegance Brands, Inc.
	 	 
	 	By:
/s/ Ram Venkat
	 	Name: Ram Venkat
	 	Title: Chief Financial Officer
	 	SELLER:
	 	Australian Boutique Spirits Pty Ltd
	 	 
	 	/s/
Sahil Beri
	 	Name: Sahil Beri
	 	Title: Director
	 	Address: 1 Doris Hirst Pl, West Pennant Hills,
	 	Sydney, Australia 2125

 

28

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