Document:

Exhibit
10.2

 

[Dealer Address]

 

[June 15][June 16], 2021

 

	To:	Cracker Barrel Old Country Store, Inc.

305 Hartmann Drive 

P.O. Box 787 

Lebanon, Tennessee 37088-0787

Attention:               [______] 

Telephone No.:      [______] 

Facsimile No.:         [______]

 

 

Re:           [Base][Additional] Warrants

 

The purpose of this letter
agreement (this “Confirmation”) is to confirm the terms and conditions of the Warrants issued by Cracker Barrel Old
Country Store, Inc. (“Company”) to [Dealer] (“Dealer”) as of the Trade Date specified below (the
 “Transaction”).

 

This letter agreement constitutes
a “Confirmation” as referred to in the ISDA Master Agreement specified below. Each party further agrees that this Confirmation
together with the Agreement evidence a complete binding agreement between Company and Dealer as to the subject matter and terms of the
Transaction to which this Confirmation relates, and shall supersede all prior or contemporaneous written or oral communications with respect
thereto.

 

The definitions and provisions
contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International
Swaps and Derivatives Association, Inc. (“ISDA”), are incorporated into this Confirmation. In the event of any inconsistency
between the Equity Definitions and this Confirmation, this Confirmation shall govern.

 

Each party is hereby advised,
and each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions
and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates
on the terms and conditions set forth below.

 

1.                  
This Confirmation evidences a complete and binding agreement between Dealer and Company as to the terms of the Transaction to which
this Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the ISDA
2002 Master Agreement (the “Agreement”) as if Dealer and Company had executed an
agreement in such form (but without any Schedule except for the election of the laws of the State of New York as the governing law (without
reference to choice of law doctrine)) on the Trade Date. In the event of any inconsistency between provisions of that Agreement and this
Confirmation, this Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates. The parties hereby
agree that no Transaction other than the Transaction to which this Confirmation relates shall be governed by the Agreement.

 

2.                  
The Transaction is a Warrant Transaction, which shall be considered a Share Option Transaction for purposes of the Equity Definitions.
The terms of the particular Transaction to which this Confirmation relates are as follows:

 

General Terms.

 

	 	Trade Date:      	[June 15][June 16], 2021
	 	 	 
	 	Effective Date: 	The second Exchange Business Day immediately prior to the Premium Payment Date, subject to Section 9(t).
	 	 	 
		Warrants:	Equity call warrants, each giving the holder the right to purchase a number of Shares equal to the Warrant
Entitlement at a price per Share equal to the Strike Price, subject to the terms set forth under the caption “Settlement Terms”
below. For the purposes of the Equity Definitions, each reference to a Warrant herein
shall be deemed to be a reference to a Call Option.

 

     

     

    

 

	 	Warrant Style:	European

 

		Seller:	Company

 

		Buyer:	Dealer

 

		Shares:	The common stock of Company, par value USD 0.01 per share (Exchange symbol “CBRL”)

 

		Number of Warrants:	[_______]. For the avoidance of doubt, the Number
of Warrants shall be reduced by any Warrants exercised or deemed exercised hereunder. In no event will the Number of Warrants be less
than zero.

 

		Warrant Entitlement:	One Share per Warrant

 

		Strike Price:	USD 263.3925.

 

			Notwithstanding anything to the contrary in the Agreement, this Confirmation or the Equity
                                                                               Definitions, in no event shall the Strike Price be subject to adjustment to the extent that, after giving effect to such adjustment,
                                                                               the Strike Price would be less than USD 150.51, except for any adjustment pursuant to the terms of this Confirmation and the Equity
                                                                               Definitions in connection with stock splits or similar changes to Company’s capitalization.

 

		Premium:	USD [______]

 

		Premium Payment Date: 	June 18, 2021

 

		Exchange:	The Nasdaq Global Select Market

 

		Related Exchange(s): 	All Exchanges

 

		Procedures for Exercise.	

 

		Expiration Time: 	The Valuation Time

 

		Expiration Dates: 	Each Scheduled Trading Day during the period from,
and including, the First Expiration Date to, but excluding, the 50th Scheduled Trading Day following the First Expiration
Date shall be an “Expiration Date” for a number of Warrants equal to the Daily Number of Warrants on such date; provided
that, notwithstanding anything to the contrary in the Equity Definitions, if any such date is a Disrupted Day, the Calculation Agent
shall, acting in good faith and in a commercially reasonable manner, (i) make adjustments, if applicable, to the Daily Number of Warrants
or shall reduce such Daily Number of Warrants to zero for which such day shall be an Expiration Date and shall designate a Scheduled
Trading Day or a number of Scheduled Trading Days as the Expiration Date(s) for the remaining Daily Number of Warrants or a portion thereof
for the originally scheduled Expiration Date and (ii) if the Daily Number of Warrants for such Disrupted
Day is not reduced to zero, determine the Settlement Price for such Disrupted Day based on transactions in the Shares on such Disrupted
Day taking into account the nature and duration of such Market Disruption Event on such day; and provided further that if such
Expiration Date has not occurred pursuant to this clause as of the eighth Scheduled Trading Day following the last scheduled Expiration
Date under the Transaction, the Calculation Agent shall have the right to declare such Scheduled Trading Day to be the final Expiration
Date and the Calculation Agent shall determine its good faith estimate of the fair market value for the Shares as of the Valuation Time
on that eighth Scheduled Trading Day or on any subsequent Scheduled Trading Day, as the Calculation Agent shall determine acting in good
faith and using commercially reasonable means.

 

    2 

     

    

 

		First Expiration Date:	September 15, 2026 (or if such day is not
a Scheduled Trading Day, the next following Scheduled Trading Day), subject to Market Disruption Event below.

 

		Daily Number of Warrants:	For any Expiration Date, the Number of
Warrants that have not expired or been exercised as of such day, divided by the remaining number of Expiration Dates (including
such day), rounded down to the nearest whole number, subject to adjustment pursuant to the provisos to “Expiration Dates”.

 

		Automatic Exercise: 	Applicable;
and means that for each Expiration Date, a number of Warrants equal to the Daily Number of Warrants for such Expiration Date will be
deemed to be automatically exercised at the Expiration Time on such Expiration Date.

 

		Market Disruption Event:	Section 6.3(a) of the Equity Definitions
is hereby amended by replacing clause (ii) in its entirety with “(ii) an Exchange Disruption, or” and inserting immediately
following clause (iii) the phrase “; in each case that the Calculation Agent determines in its commercially reasonable discretion
is material.”

 

			Section 6.3(d) of the Equity Definitions is hereby amended by deleting the remainder of the
                                                                               provision following the words “Scheduled Closing Time” in the fourth line thereof.

 

		Valuation Terms.	

 

		Valuation Time:	Scheduled Closing Time; provided that if the
principal trading session is extended, the Calculation Agent shall determine the Valuation Time in its reasonable discretion.

 

		Valuation Date:	Each Exercise Date.

 

    3 

     

    

 

		Settlement Terms.	

 

		Settlement Method Election:	Applicable; provided that (i) references
to “Physical Settlement” in Section 7.1 of the Equity Definitions shall be replaced by references to “Net Share Settlement”;
(ii) Company may elect Cash Settlement only
if Company represents and warrants to Dealer in writing on the date of such election that (A) Company is not in possession of any material
non-public information regarding Company or the Shares, (B) Company is electing Cash Settlement in good faith and not as part of a plan
or scheme to evade compliance with the federal securities laws, (C) the assets of Company at their fair valuation exceed the liabilities
of Company (including contingent liabilities), the capital of Company is adequate to conduct the business of Company, and Company has
the ability to pay its debts and obligations as such debts mature and does not intend to, or does not believe that it will, incur debt
beyond its ability to pay as such debts mature and Company would be able to purchase the Number of Shares with respect to the Transaction
in compliance with the laws of the jurisdiction of Company’s incorporation and (D) neither Company nor any of its subsidiaries has
applied for, and until after the first date on which no portion of the Transaction remains outstanding following any final exercise and
settlement, cancellation or early termination of the Transaction shall not apply, for a loan, loan guarantee, direct loan (as that term
is defined in the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”)) or other investment, or to receive
any financial assistance or relief under any program or facility (collectively, “Financial Assistance”) that (a) is
established under applicable law (whether in existence as of the Trade Date or subsequently enacted, adopted or amended), including without
limitation the CARES Act and the Federal Reserve Act, as amended, and (b) requires under applicable law (or any regulation, guidance,
interpretation or other pronouncement of a governmental authority with jurisdiction for such program or facility) as a condition of such
Financial Assistance, that Company comply with any requirement not to, or otherwise agree, attest, certify or warrant that it has not,
as of the date specified in such condition, repurchased, or will not repurchase, any equity security of Company, and that it has not,
as of the date specified in such condition, made a capital distribution or will make a capital distribution or where the terms of the
Transaction would cause Company under any circumstances to fail to satisfy any condition for application for or receipt or retention of
the Financial Assistance (collectively, “Restricted Financial Assistance”), other than any such applications for Restricted
Financial Assistance that were (or would be) made (x) determined based on the advice of outside counsel of national standing, that the
terms of the Transaction would not cause Company to fail to satisfy any condition for application for or receipt or retention of such
Financial Assistance based on the terms of the program or facility as of the date of such advice or (y) after delivery to Dealer evidence
of a waiver or other guidance from a governmental authority with jurisdiction for such program or facility that the Transaction is permitted
under such program or facility (either by specific reference to the Transaction or by general reference
to transactions with attributes of the Transaction in all relevant respects), and (iii) the same election of settlement method shall apply
to all Expiration Dates hereunder.

 

    4 

     

    

 

 

		Electing Party:	Company.

 

		Settlement Method Election Date:	The second Scheduled Trading Day immediately
preceding the First Expiration Date.

 

		Default Settlement Method:	Net Share Settlement.

 

		Net Share Settlement:	If Net Share Settlement is applicable,
then on the relevant Settlement Date, Company shall deliver to Dealer a number of Shares equal to the Share Delivery Quantity for such
Settlement Date to the account specified herein free of payment through the Clearance System, and Dealer shall be treated as the holder
of record of such Shares at the time of delivery of such Shares or, if earlier, at 5:00 p.m. (New York City time) on such Settlement
Date, and Company shall pay to Dealer cash in lieu of any fractional Share based on the Settlement Price on the relevant Valuation Date.

 

		Share Delivery Quantity:	For any Settlement Date, a number of Shares,
as calculated by the Calculation Agent, equal to the Net Share Settlement Amount for such Settlement Date divided by the Settlement
Price on the Valuation Date for such Settlement Date, rounded down to the nearest whole number.

 

		Net Share Settlement Amount:	For any Settlement Date, an amount
equal to the product of (i) the number of Warrants exercised or deemed exercised on the relevant Exercise Date, (ii) the Strike
Price Differential for the relevant Valuation Date and (iii) the Warrant Entitlement.

 

		Cash Settlement:	If Cash Settlement is applicable, on the relevant
Settlement Date, Company shall pay to Dealer an amount of cash in USD equal to the Net Share Settlement Amount for such Settlement Date.

 

		Settlement Price:	For any Valuation Date, the per Share volume-weighted
average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “CBRL <equity> AQR” (or
any successor thereto) in respect of the period from the scheduled opening time of the Exchange to the Scheduled Closing Time on such
Valuation Date (or if such volume-weighted average price is unavailable or is manifestly erroneous, the market value of one Share on
such Valuation Date, as determined by the Calculation Agent, acting in good faith and in a commercially reasonable manner). Notwithstanding
the foregoing, if (i) any Expiration Date is a Disrupted Day and (ii) the Calculation Agent determines that such Expiration Date shall
be an Expiration Date for fewer than the Daily Number of Warrants, as described above, then the Settlement Price for the relevant Valuation
Date shall be the volume-weighted average price per Share on such Valuation Date on
the Exchange, as determined by the Calculation Agent based on such sources as it deems appropriate, acting in good faith and in a commercially
reasonable manner, using a volume-weighted methodology, for the portion of such Valuation Date for which the Calculation Agent determines
there is no Market Disruption Event.

 

    5 

     

    

 

		Settlement Dates:	As determined pursuant to Section 9.4 of the Equity
Definitions, subject to Section ‎9(j)(i) hereof; provided that Section 9.4 of the Equity Definitions is hereby amended by
(i) inserting the words “or cash” immediately following the word “Shares” in the first line thereof and (ii)
inserting the words “for the Shares” immediately following the words “Settlement Cycle” in the second line thereof.

 

		Other Applicable Provisions: 	If Net Share Settlement is applicable,
the provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable, except that all references in
such provisions to “Physically-settled” shall be read as references to “Net Share Settled.” “Net Share
Settled” in relation to any Warrant means that Net Share Settlement is applicable to that Warrant.

 

		Representation and Agreement:	Notwithstanding Section 9.11 of the Equity
Definitions, the parties acknowledge that any Shares delivered to Dealer may be, upon delivery, subject to restrictions and limitations
arising from Company’s status as issuer of the Shares under applicable securities laws.

 

	3.	Additional Terms applicable to the Transaction.

 

Adjustments applicable
to the Transaction:

 

		Method of Adjustment: 	Calculation Agent Adjustment, except that
any adjustment in respect of a Potential Adjustment Event shall be made in a commercially reasonable manner; provided that the
parties agree that (x) open market Share repurchases at prevailing market prices or (y) accelerated share repurchases, forward contracts
or similar transactions (at, or at a commercially reasonable adjustment in relation to, prevailing market prices) that are entered into
in accordance with customary, arm’s length terms for transactions of such type to repurchase the Shares (and, in the case of this
clause (y), through a nationally-recognized financial institution), shall not be considered a Potential Adjustment Event as long as the
aggregate number of Shares so repurchased (excluding the repurchase by Company of an aggregate of up to [_____] Shares to be settled
on or around the Premium Payment Date [under (and as defined in) the Base Warrant Confirmation]) does not exceed 15% of the total number
of Shares outstanding as of the Trade Date, as determined by Calculation Agent in a commercially reasonable manner. For the avoidance
of doubt, in making any adjustments under the Equity Definitions, the Calculation Agent may make commercially reasonable adjustments,
if any, to any one or more of the Strike Price, the Number
of Warrants, the Daily Number of Warrants and the Warrant Entitlement. Notwithstanding the foregoing, any cash dividends or distributions
on the Shares, whether or not extraordinary, shall be governed by Section ‎9(f) of this Confirmation in lieu of Article 10 or Section
11.2(c) of the Equity Definitions.

 

    6 

     

    

 

Extraordinary
Events applicable to the Transaction:

 

		New Shares:	Section 12.1(i) of the Equity Definitions is hereby
amended (a) by deleting the text in clause (i) thereof in its entirety (including the word “and” following clause (i)) and
replacing it with the phrase “publicly quoted, traded or listed (or whose related depositary receipts are publicly quoted, traded
or listed) on any of the New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or their respective successors)”
and (b) by inserting immediately prior to the period the phrase “and (iii) of an entity or person that is a corporation organized
under the laws of the United States, any State thereof or the District of Columbia that (x) also becomes Company under the Transaction
or (y) directly or indirectly wholly owns Company and fully and unconditionally guarantees Company’s obligations under the Transaction,
in either case, following such Merger Event or Tender Offer”.

 

Consequence of
Merger Events:

 

		Merger Event:	Applicable; provided that if an event occurs
that constitutes both a Merger Event under Section 12.1(b) of the Equity Definitions and an Additional Termination Event under Section
 ‎9(g)(ii)(B) of this Confirmation, Section ‎9(g)(ii)(B) will apply.

 

		Share-for-Share:	Modified Calculation Agent Adjustment

 

		Share-for-Other:	Cancellation and Payment (Calculation Agent Determination)

 

		Share-for-Combined:	Cancellation and Payment (Calculation Agent Determination); provided that Dealer may elect, in
its commercially reasonable judgment, Component Adjustment for all or any portion of the Transaction.

 

Consequence of
Tender Offers:

 

		Tender Offer:	Applicable; provided that Section 12.1(d) of
the Equity Definitions is hereby amended by replacing “10%” with “20%” in the third line thereof; provided
further that if an event occurs that constitutes both a Tender Offer under Section 12.1(d) of the Equity Definitions and Additional
Termination Event under Section 9(g)(ii)(A) of this Confirmation, Section 9(g)(ii)(A) will apply.

 

		Share-for-Share:	Modified Calculation Agent Adjustment

 

    7 

     

    

 

		Share-for-Other:	Modified Calculation Agent Adjustment

 

		Share-for-Combined:	Modified Calculation Agent Adjustment

 

		Consequences of Announcement Events:	Modified Calculation Agent Adjustment
as set forth in Section 12.3(d) of the Equity Definitions; provided that, in respect of an Announcement Event, (w) references
to “Tender Offer” shall be replaced by references to “Announcement Event” and references to “Tender Offer
Date” shall be replaced by references to “date of such Announcement Event”, (x) the
fifth and sixth lines shall be deleted in their entirety and replaced with the words “effect on the Warrants of such Announcement
Event solely to account for changes in volatility, expected dividends, stock loan rate or liquidity relevant to the Shares or the Warrants,
or other commercially reasonable option pricing inputs”, (y) the words “whether within a commercially reasonable (as determined
by the Calculation Agent) period of time prior to or after the Announcement Event” shall be inserted prior to the word “which”
in the seventh line and (z) for the avoidance of doubt, the Calculation Agent shall determine whether the relevant Announcement
Event has had a material effect on the Transaction (and, if so, adjust the terms of the Transaction accordingly in a commercially reasonable
manner) on one or more occasions on or after the date of the Announcement Event up to, and including, the Expiration Date, any Early
Termination Date, any other date of termination or cancellation and/or the date on which any prior Announcement Event is cancelled, withdrawn,
discontinued or otherwise terminated, as applicable, it being understood that any adjustment in respect of an Announcement Event shall
take into account any earlier adjustment relating to the same Announcement Event. An Announcement Event shall be an “Extraordinary
Event” for purposes of the Equity Definitions, to which Article 12 of the Equity Definitions is applicable.

 

		Announcement Event:	(i) The public announcement by Issuer, a subsidiary,
affiliate, agent or representative of Issuer, or any Valid Third Party Entity of (x) any transaction or event that, if completed, would
constitute a Merger Event or Tender Offer, (y) any potential acquisition or disposal by Issuer and/or its subsidiaries where the aggregate
consideration exceeds 35% of the market capitalization of Issuer as of the date of such announcement (a “Transformative Transaction”)
or (z) the intention to enter into a Merger Event or Tender Offer or a Transformative Transaction, (ii) the public announcement
by Issuer of an intention to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include,
a Merger Event or Tender Offer or a Transformative Transaction or (iii) any subsequent public announcement by Issuer, a subsidiary, affiliate,
agent or representative of Issuer, or any Valid Third Party Entity of a change to a transaction or intention that is the subject of an
announcement of the type described in clause (i) or (ii) of this sentence (including, without limitation, a new announcement, whether
or not by the same party, relating to such a transaction
or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or intention), as
determined by the Calculation Agent. For the avoidance of doubt, the occurrence of an Announcement Event with respect to any transaction
or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or intention. For purposes
of this definition of “Announcement Event,” the remainder of the definition of “Merger Event” in Section 12.1(b)
of the Equity Definitions following the definition of “Reverse Merger” therein shall be disregarded.

 

    8 

     

    

 

 

 

		Valid Third Party Entity:	In respect of any transaction or event,
any third party, or its subsidiary, affiliate, agent or representative, that has a bona fide intent to enter into or consummate such
transaction or event, it being understood and agreed that in determining, in a commercially reasonable manner, whether such third party
has such a bona fide intent, the Calculation Agent may take into consideration the effect of the relevant announcement by such third
party on the Shares and/or options relating to the Shares.

 

		Nationalization, Insolvency or Delisting:	Cancellation and Payment (Calculation
Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will
also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or
re-quoted on any of the New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or their respective successors);
if the Shares are immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The Nasdaq Global Select Market
or The Nasdaq Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the
Exchange.

 

Additional Disruption
Events:

 

		Change in Law:	Applicable; provided that Section 12.9(a)(ii)
of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with
the phrase “, or public announcement of, the formal or informal interpretation”, (ii) replacing the word “Shares”
where it appears in clause (X) thereof with the words “Hedge Position” and (iii) replacing the parenthetical beginning after
the word “regulation” in the second line thereof the words “(including, for the avoidance of doubt and without limitation,
(x) any tax law or (y) adoption, effectiveness or promulgation of new regulations authorized or mandated by existing statute)”.

 

		Failure to Deliver:	Not Applicable

 

		Insolvency Filing:	Applicable

 

		Hedging Disruption:	Applicable; provided that:

 

    9 

     

    

 

		(i)	Section 12.9(a)(v) of the Equity Definitions is hereby amended by (a) inserting the following words
at the end of clause (A) thereof: “in the manner contemplated by the Hedging Party on the Trade Date” and (b) inserting
the following two phrases at the end of such Section:

 

			“For the avoidance of doubt, the term “equity price risk”
shall be deemed to include, but shall not be limited to, stock price and volatility risk. And, for the further avoidance of doubt, any
such transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing terms.”;
and

 

		(ii)	Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof,
after the words “to terminate the Transaction”, the words “or, if a portion of the Transaction is affected by such Hedging
Disruption (as commercially reasonably determined by the Hedging Party), such portion of the Transaction affected by such Hedging Disruption”.

 

		Increased Cost of Hedging:	Applicable

 

		Loss of Stock Borrow:	Applicable

 

		Maximum Stock Loan Rate:	200 basis points

 

		Increased Cost of Stock Borrow:	Applicable

 

		Initial Stock Loan Rate:	0 basis points until June 15, 2026 and 25
basis points thereafter.

 

		Hedging Party:	For all applicable Additional Disruption Events, Dealer.

 

		Determining Party:	For all applicable Extraordinary Events, Dealer.

 

		Non-Reliance:	Applicable

 

		Agreements and Acknowledgments	
		Regarding Hedging Activities:	Applicable

 

		Additional Acknowledgments:	Applicable

 

    10 

     

    

 

	4.	Calculation Agent. 	Dealer, whose adjustments, determinations
and calculations shall be made in good faith and in a commercially reasonable manner; provided that, following the occurrence
and during the continuance of an Event of Default of the type described in Section 5(a)(vii) of the Agreement with respect to which Dealer
is the sole Defaulting Party, if the Calculation Agent fails to timely make any calculation, adjustment or determination required to
be made by the Calculation Agent hereunder or to perform any obligation of the Calculation Agent hereunder and such failure continues
for five (5) Exchange Business Days following notice to the Calculation Agent by Company of such failure, Company shall have the right
to designate a nationally recognized third-party dealer in over-the-counter corporate equity derivatives to act, during the period commencing
on the date such Event of Default occurred and ending on the Early Termination Date with respect to such Event of Default (or, if earlier,
the date on which such Event of Default is no longer continuing), as the Calculation Agent. Following any determination, adjustment or
calculation by the Calculation Agent hereunder, upon a request by Company, the Calculation Agent shall promptly (but in any event within
five Scheduled Trading Days) provide to Company by e-mail to the e-mail address provided by Company in such request a report (in a commonly
used file format for the storage and manipulation of financial data) displaying in reasonable detail the basis for such assumptions used
in making such determination, adjustment or calculation), it being understood that the Calculation Agent shall not be obligated to disclose
any proprietary models used by it for such determination, adjustment or calculation or any information that may be proprietary or confidential
or subject to an obligation not to disclose such information.

 

	5.	Account Details.

 

		(a)	Account for payments to Company:

 

To be advised.

 

Account for delivery of Shares from Company:

 

To be advised.

 

		(b)	Account for payments to Dealer:

 

[______]

 

Account for delivery of Shares to Dealer:

 

To be advised.

 

	6.	Offices.

 

		(a)	The Office of Company for the Transaction is: Inapplicable, Company is not a Multibranch Party.

 

		(b)	The Office of Dealer for the Transaction is: [______]

 

	7.	Notices.

 

		(a)	Address for notices or communications to Company:

 

Cracker Barrel Old Country Store, Inc.

305 Hartmann Drive

P.O. Box 787

Lebanon, Tennessee 37088-0787

Attention:           [______] 

 

Telephone No.:    [______]

Facsimile No.:     [______]

 

The Legal Entity Identifier (LEI) for Company is [8P4PHQIUWPIECBFBW745]

 

    11 

     

    

 

 

		(b)	Address for notices or communications to Dealer:

 

[______]

 

		8.	Representations and Warranties.

 

Company hereby represents
and warrants to Dealer on the date hereof, on and as of the Premium Payment Date and, in the case of the representations in Section 8(d),
at all times until termination of the Transaction, that:

 

		(a)	In lieu of the representations set forth in Section 3(a)(ii) of the Agreement, Company has all necessary
corporate power and authority to execute, deliver and perform its obligations in respect of the Transaction; such execution, delivery
and performance have been duly authorized by all necessary corporate action on Company’s part; and this Confirmation has been duly
and validly executed and delivered by Company and constitutes its valid and binding obligation, enforceable against Company in accordance
with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting
creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles
of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity)
and except that rights to indemnification and contribution hereunder may be limited by federal or state securities laws or public policy
relating thereto

 

		(b)	In lieu of the representation set forth in Section 3(a)(iii) of the Agreement, neither the execution and
delivery of this Confirmation nor the incurrence or performance of obligations of Company hereunder will conflict with or result in a
breach of the certificate of incorporation or by-laws (or any equivalent documents) of Company, or any applicable law or regulation,
or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or instrument filed as an
exhibit to Company’s Annual Report on Form 10-K for the year ended July 31, 2020, as updated by any subsequent filings, to which
Company or any of its subsidiaries is a party or by which Company or any of its subsidiaries is bound or to which Company or any of its
subsidiaries is subject, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument.

 

		(c)	In lieu of the representation set forth in Section 3(a)(iv) of the agreement, to Company’s knowledge,
no consent, approval, authorization, or order of, or filing with, any governmental agency or body or any court is required in connection
with the execution, delivery or performance by Company of this Confirmation, except such as have been obtained or made and such as may
be required under the Securities Act of 1933, as amended (the “Securities Act”) or state securities laws.

 

		(d)	A number of Shares equal to the Maximum Number of Shares (as defined below) (the “Warrant Shares”)
have been reserved for issuance by all required corporate action of Company. The Warrant Shares have been duly authorized and, when delivered
against payment therefor (which may include Net Share Settlement in lieu of cash) and otherwise as contemplated by the terms of the Warrants
following the exercise of the Warrants in accordance with the terms and conditions of the Warrants, will be validly issued, fully-paid
and non-assessable, and the issuance of the Warrant Shares will not be subject to any preemptive or similar rights. Company represents
and warrants to Dealer that the Maximum Number of Shares is equal to or less than the number of authorized but unissued Shares of Company
that are not reserved for future issuance in connection with transactions in the Shares (other than the Transaction) on the date of the
determination of the Maximum Number of Shares (such Shares, the “Available Shares”). Company shall not take any action
to decrease the number of Available Shares below the Maximum
Number of Shares without Dealer’s prior consent (such consent not to be unreasonably withheld, conditioned or delayed).

 

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		(e)	Company is not and, after consummation of the transactions contemplated hereby, will not be required to
register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

 

		(f)	Company is an “eligible contract participant” (as such term is defined in Section 1a(18) of
the Commodity Exchange Act, as amended, other than a person that is an eligible contract participant under Section 1a(18)(C) of the Commodity
Exchange Act).

 

		(g)	Company and each of its affiliates is not, on the date hereof, in possession of any material non-public
information with respect to Company or the Shares.

 

		(h)	To Company’s knowledge, no state or local (including any non-U.S. jurisdiction’s) law, rule,
regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including
without limitation a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or
holding (however defined) Shares; provided that Company makes no representation or warranty regarding (i) any such requirement
that is applicable generally to the ownership of, or transactions in, common equity securities of a U.S. incorporated corporation listed
on the Exchange by Dealer or any of its affiliates solely as a result of it or any of such affiliates being a financial institution or
broker-dealer.

 

		(i)	Company (A) is capable of evaluating investment risks independently, both in general and with regard to
all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the
recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C)
has total assets of at least $50 million.

 

		(j)	The assets of Company do not constitute “plan assets” under the Employee Retirement Income
Security Act of 1974, as amended, the Department of Labor Regulations promulgated thereunder or similar law.

 

		(k)	Company acknowledges that the board of directors of Company has granted the approval necessary to cause
the restrictions set forth in Tennessee Code Annotated Section 48-103 et seq. (the “Business Combinations Statute”)
to be inapplicable to the Transaction, including, without limitation, transactions in, or linked to, Company’s securities to be
effected by Dealer in connection with hedging the Transaction, and as a result neither Dealer nor any of its affiliates or associates
shall be subject to the restrictions in the Business Combinations Statute as an “interested shareholder” of Company by virtue
of (i) its entry into the Transaction or (ii) any act that Dealer may take in furtherance of the Transaction (including without limitation
the hedging transactions to be effected by Dealer or its affiliates in connection with the Transaction).

 

		(l)	[Each party acknowledges and agrees to be bound by the Conduct Rules of the Financial Industry Regulatory
Authority, Inc. applicable to transactions in options, and further agrees not to violate the position and exercise limits set forth therein.

 

		(m)	Company represents and warrants that it has received, read and understands the OTC Options Risk Disclosure
Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics
and Risks of Standardized Options”.]

 

		9.	Other Provisions.

 

		(a)	Opinions. Company shall deliver to Dealer an opinion of counsel, dated as of the Premium
Payment Date, with respect to the matters set forth in Sections 8(a) through (e) of this Confirmation; provided that any such opinion
of counsel may contain customary exceptions and qualifications. Delivery of such opinion to Dealer shall be a condition precedent for
the purpose of Section 2(a)(iii) of the Agreement with respect to each obligation of Dealer under Section 2(a)(i) of the Agreement.

 

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		(b)	[Reserved.]

 

		(c)	Regulation M. Company is not on the Trade Date engaged in a distribution, as such term is
used in Regulation M under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of any securities
of Company, other than a distribution meeting the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation
M. Company shall not, until the second Scheduled Trading Day immediately following the Effective Date, engage in any such distribution.

 

		(d)	No Manipulation. Company is not entering into the Transaction to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate
the price of the Shares (or any security convertible into or exchangeable for the Shares) or otherwise in violation of the Exchange Act.

 

		(e)	Transfer or Assignment. Company may not transfer any of its rights or obligations under
the Transaction without the prior written consent of Dealer. Dealer may, (i) without Company’s consent, transfer or assign all or
any part of its rights or obligations under the Transaction to any affiliate of Dealer, and (ii) with Company’s consent (such consent
not to be unreasonably withheld), transfer or assign all or any part of its rights or obligations under the Transaction to any third party;
provided, in each case, that (x) Company will not be required to pay the transferee on any payment date an amount under Section
2(d)(i)(4) of the Agreement greater than an amount that Company would have been required to pay to Dealer in the absence of such transfer
or assignment as determined as of the date of such transfer or assignment, and (y) Dealer shall have caused the transferee to make such
Payee Tax Representations and to provide such tax documentation as may be reasonably requested by Company, including to permit Company
to determine that the result described in the immediately preceding clause (x) of this proviso will not occur upon or after such transfer
and assignment. If at any time at which (A) the Section 16 Percentage exceeds 8.5% or (B) the Share Amount exceeds the Applicable Share
Limit (if any applies) (any such condition described in clauses (A) or (B), an “Excess Ownership Position”), Dealer
is unable after using its commercially reasonable efforts to effect a transfer or assignment of Warrants to a third party on pricing terms
reasonably acceptable to Dealer and within a time period reasonably acceptable to Dealer such that no Excess Ownership Position exists,
then Dealer may designate any Exchange Business Day as an Early Termination Date with respect to a portion of the Transaction (the “Terminated
Portion”), such that following such partial termination no Excess Ownership Position exists. In the event that Dealer so designates
an Early Termination Date with respect to a Terminated Portion, a payment shall be made pursuant to Section 6 of the Agreement as if (1)
an Early Termination Date had been designated in respect of a Transaction having terms identical to the Transaction and a Number of Warrants
equal to the number of Warrants underlying the Terminated Portion, (2) Company were the sole Affected Party with respect to such partial
termination and (3) the Terminated Portion were the sole Affected Transaction (and, for the avoidance of doubt, the provisions of Section
 ‎9(i) shall apply to any amount that is payable by Company to Dealer pursuant to this sentence as if Company was not the Affected
Party). The “Section 16 Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of
which is the number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer for purposes
of the “beneficial ownership” test under Section 13 of the Exchange Act, or any “group” (within the meaning of
Section 13 of the Exchange Act) of which Dealer is or may be deemed to be a part beneficially owns (within the meaning of Section 13 of
the Exchange Act), without duplication, on such day (or, to the extent that for any reason the equivalent calculation under Section 16
of the Exchange Act and the rules and regulations thereunder results in a higher number, such higher number) and (B) the denominator of
which is the number of Shares outstanding on such day. The “Share Amount” as of any day is the number of Shares that
Dealer and any person whose ownership position would be aggregated with that of Dealer (Dealer or any such person, a “Dealer
Person”) under any law, rule, regulation, regulatory order or organizational documents or contracts of Company that are, in
each case, applicable to ownership of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns,
controls, holds the power to vote or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined
by Dealer in its reasonable discretion. The “Applicable Share Limit” means a number of Shares equal to (A) the minimum
number of Shares that could give rise to reporting or registration obligations (except for any filings of Form 13F, Schedule 13D
or Schedule 13G under the Exchange Act) or other requirements (including obtaining prior approval from any person or entity) of a Dealer
Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction, as determined by Dealer in its reasonable
discretion, minus (B) 1% of the number of Shares outstanding. Notwithstanding any other provision in this Confirmation to the contrary
requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash,
to or from Company, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities,
or make or receive such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such
designee may assume such obligations. Dealer shall be discharged of its obligations to Company to the extent of any such performance.

 

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		(f)	Dividends. If at any time during the period from and including the Effective Date, to and
including the last Expiration Date, an ex-dividend date for a cash dividend occurs with respect to the Shares, then the Calculation Agent
will adjust, in good faith and in a commercially reasonable manner, any of the Strike Price, Number of Warrants, Daily Number of Warrants
and/or any other variable relevant to the exercise, settlement or payment of the Transaction to preserve the fair value of the Warrants
to Dealer after taking into account such dividend.

 

		(g)	Additional Provisions.

 

(i)                 
Amendments to the Equity Definitions:

 

		(A)	Section 11.2(a) of the Equity Definitions is hereby amended by deleting the words “a diluting or
concentrative” and replacing them with the word “an”; and adding the phrase “or Warrants” at the end of
the sentence.

 

		(B)	Section 11.2(c) of the Equity Definitions is hereby amended by (w) replacing the words “a diluting
or concentrative” with “a material” in the fifth line thereof, (x) adding the phrase “or Warrants” after
the words “the relevant Shares” in the same sentence, (y) deleting the words “diluting or concentrative”
in the sixth to last line thereof and (z) deleting the phrase “(provided that no adjustments will be made to account solely for
changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing it with
the phrase “(and, for the avoidance of doubt, adjustments may be made to account solely for changes in volatility, expected dividends,
stock loan rate or liquidity relative to the relevant Shares).”

 

		(C)	Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “that may
have a diluting or concentrative effect on the theoretical value of” and replacing them with the words “that is the result
of a corporate action by Company that has a material economic effect on”; and adding the phrase “or Warrants; provided
that such event is not based on an observable market, other than the market for the Company’s own stock or an observable index,
other than an index calculated and measured solely by reference to the Company’s own operations” at the end of the sentence.

 

		(D)	Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) inserting “(1)” immediately
following the word “means” in the first line thereof and (2) inserting immediately prior to the semi-colon at the end of subsection
(B) thereof the following words: “or (2) the occurrence of any of the events specified in Section 5(a)(vii)(1) through (9) of the
ISDA Master Agreement with respect to that Issuer”.

 

		(E)	Section 12.9(b)(iv) of the Equity Definitions is hereby amended by:

 

		(x)	deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection
(A) and (3) the phrase “in each case” in subsection (B); and

 

		(y)	replacing the phrase “neither the Non-Hedging Party nor the Lending Party lends Shares” with
the phrase “such Lending Party does not lend Shares” in the penultimate sentence.

 

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		(F)	Section 12.9(b)(v) of the Equity Definitions is hereby amended by:

 

		(x)	adding the word “or” immediately before subsection “(B)” and deleting the comma
at the end of subsection (A); and

 

		(y)	(1) deleting subsection (C) in its entirety, (2) deleting the word “or” immediately preceding
subsection (C), (3) deleting the penultimate sentence in its entirety and replacing it with the sentence “The Hedging Party will
determine the Cancellation Amount payable by one party to the other in a commercially reasonable manner.” and (4) deleting
clause (X) in the final sentence.

 

		(G)	Section 12.9(b)(vi) of the Equity Definitions is hereby amended by:

 

		(x)	adding the word “or” immediately before subsection “(B)” and deleting the comma
at the end of subsection (A); and

 

		(y)	(1) deleting subsection (C) in its entirety, (2) deleting the word “or” immediately preceding
subsection (C) and (3) deleting the final sentence in its entirety and replacing it with the sentence “The Hedging Party will determine
the Cancellation Amount payable by one party to the other in a commercially reasonable manner.”

 

		(ii)	Notwithstanding anything to the contrary in this Confirmation,
upon the occurrence of one of the following events, with respect to the Transaction, (1) Dealer shall have the right, in good faith and
its commercially reasonable discretion, to designate such event an Additional Termination Event and designate an Early Termination Date
pursuant to Section 6(b) of the Agreement, (2) Company shall be deemed the sole Affected Party with respect to such Additional Termination
Event and (3) the Transaction, or, at the commercially reasonable election of Dealer, the portion of the Transaction affected by the
relevant event, shall be deemed the sole Affected Transaction; provided that if Dealer so designates an Early Termination Date
with respect to a portion of the Transaction, (a) a payment shall be made pursuant to Section 6 of the Agreement as if an Early
Termination Date had been designated in respect of a Transaction having terms identical to the Transaction and a Number of Warrants equal
to the number of Warrants included in the terminated portion of the Transaction, and (b) for the avoidance of doubt, the Transaction
shall remain in full force and effect except that the Number of Warrants shall be reduced by the number of Warrants included in such
terminated portion:

 

		(A)	A “person” or “group” within the meaning of Section 13(d) of the Exchange Act,
other than Company, its wholly owned subsidiaries or its and their employee benefit plans, files any report with the SEC indicating that
such person or group has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act,
of the Shares representing more than 50% of the voting power of all of the then-outstanding Shares.

 

		(B)	Consummation of (I) any sale, lease or other transfer, in one transaction or a series of transactions,
of all or substantially all of the assets of Company and its subsidiaries, taken as a whole, to any person other than solely to Company
or one or more of Company’s wholly owned subsidiaries or (II) any transaction or series of related transactions in connection
with which (whether by means of merger, consolidation, share exchange, combination, reclassification, recapitalization, acquisition, liquidation
or otherwise) all of the Shares are exchange for, converted into, acquired for, or constitute solely the right to receive, other securities,
cash or other property. Notwithstanding the foregoing, any transaction or transactions set forth in clause (A) above or this clause (B)
shall not constitute an Additional Termination Event if (x) at least 90% of the consideration received or to be received by holders
of the Shares (excluding cash payments for fractional Shares or pursuant to dissenters rights) in connection with such transaction event
consists of shares of common stock that are listed or traded (or American depositary receipts representing shares of common stock, which
depositary receipts are listed or traded) on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global
Market (or any of their respective successors) or will be so listed or traded when issued or exchanged in connection with such transaction
or event, and (y) as a result of such transaction or event, the Shares will consist of such consideration.

 

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		(C)	Default by Company or any of its subsidiaries with respect to any one or more mortgages, agreements, or
other instruments under which there is outstanding, or by which there is secured or evidenced, any indebtedness for money borrowed at
least $35,000,000 (or its foreign currency equivalent) in the aggregate of Company and/or any such subsidiary, whether such indebtedness
exists as of the Premium Payment Date [(as defined in the Base Warrant Confirmation)]
or is thereafter be created, where such default: (x) constitutes a failure to pay the principal of or interest on such indebtedness
when due and payable at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, in each case after
the expiration of any applicable grace period or (y) results in such indebtedness becoming or being declared due and payable before its
stated maturity.

 

		(D)	Dealer reasonably determines based on the advice of counsel that Dealer, despite using commercially reasonable
efforts, is unable or reasonably determines that it is impractical or illegal, to hedge its exposure with respect to the Transaction in
the public market without registration under the Securities Act or as a result of any legal, regulatory or self-regulatory requirements
or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily
adopted by Dealer).

 

		(h)	No Collateral or Setoff. Notwithstanding any provision of the Agreement or any other agreement
between the parties to the contrary, the obligations of Company hereunder are not secured by any collateral. Obligations under the Transaction
shall not be set off by Company against any other obligations of the parties, whether arising under the Agreement, this Confirmation,
under any other agreement between the parties hereto, by operation of law or otherwise. Any provision in the Agreement with respect to
the satisfaction of Company’s payment obligations to the extent of Dealer’s payment obligations to Company in the same currency
and in the same Transaction (including, without limitation Section 2(c) thereof) shall not apply to Company and, for the avoidance of
doubt, Company shall fully satisfy such payment obligations notwithstanding any payment obligation to Company by Dealer in the same currency
and in the same Transaction. In calculating any amounts under Section 6(e) of the Agreement, notwithstanding anything to the contrary
in the Agreement, (1) separate amounts shall be calculated as set forth in such Section 6(e) with respect to (a) the Transaction and (b)
all other Transactions, and (2) such separate amounts shall be payable pursuant to Section 6(d)(ii) of the Agreement. For the avoidance
of doubt and notwithstanding anything to the contrary provided in this Section ‎9(h), in the event of bankruptcy or liquidation
of either Company or Dealer, neither party shall have the right to set off any obligation that it may have to the other party under the
Transaction against any obligation such other party may have to it, whether arising under the Agreement, this Confirmation or any other
agreement between the parties hereto, by operation of law or otherwise.

 

		(i)	Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.
If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect
to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result
of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to all holders of Shares consists solely of
cash, (ii) a Merger Event or Tender Offer that is within Company’s control, or (iii) an Event of Default in which Company is the
Defaulting Party or a Termination Event in which Company is the Affected Party other than an Event of Default of the type described in
Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement,
in each case that resulted from an event or events outside Company’s control), and if Company would owe any amount to Dealer pursuant
to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment
Obligation”), then Company shall satisfy the Payment Obligation by the Share Termination Alternative (as defined below), unless
(a) Company gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than 12:00
p.m. (New York City time) on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting),
Early Termination Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply,
(b) Company remakes the representation set forth in Section 8(g) as of the date of such election and (c) Dealer agrees, in its commercially
reasonable discretion, to such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the
provisions of Section 6(d)(ii) of the Agreement, as the case may be, shall apply.

 

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		Share Termination Alternative:	 If applicable, Company shall deliver
to Dealer the Share Termination Delivery Property on the date (the “Share Termination Payment Date”) on which the
Payment Obligation would otherwise be due pursuant to Section 12.7 or Section 12.9 of the Equity Definitions or Section 6(d)(ii) of the
Agreement, as applicable, subject to Section 9(j)(i) below, in satisfaction, subject to Section 9(j)(ii) below, of the relevant Payment
Obligation, in the manner reasonably requested by Dealer free of payment.

 

		Share Termination Delivery Property:	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the relevant
Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the amount of Share Termination
Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional
security based on the values used to calculate the Share Termination Unit Price (without giving effect to any discount pursuant to Section
 ‎9(j)(i)).

 

		Share Termination Unit Price:	 The value to Dealer of property
contained in one Share Termination Delivery Unit on the date such Share Termination Delivery Units are to be delivered as Share Termination
Delivery Property, as determined by the Calculation Agent in its discretion by commercially reasonable means. In the case of a Private
Placement of Share Termination Delivery Units that are Restricted Shares (as defined below), as set forth in Section 9(j)(i) below, the
Share Termination Unit Price shall be determined by the discounted price applicable to such
Share Termination Delivery Units. In the case of a Registration Settlement of Share Termination Delivery Units that are Restricted Shares
(as defined below) as set forth in Section 9(j)(ii) below, notwithstanding the foregoing, the Share Termination Unit Price shall be the
Settlement Price on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting),
Early Termination Date or date of cancellation, as applicable. The Calculation Agent shall notify Company of the Share Termination Unit
Price at the time of notification of such Payment Obligation to Company or, if applicable, at the time the discounted price applicable
to the relevant Share Termination Units is determined pursuant to Section 9(j)(i).

 

		Share Termination Delivery Unit:	 One Share or, if the Shares have
changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency
or Merger Event (any such cash or other property, the “Exchange Property”), a unit consisting of the type and amount
of Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in
lieu of fractional amounts of any securities) in such Nationalization, Insolvency or Merger Event. If such Nationalization, Insolvency
or Merger Event involves a choice of Exchange Property to be received by holders, such holder shall be deemed to have elected to receive
the maximum possible amount of cash.

 

		Failure to Deliver:	 Inapplicable

 

		Other applicable provisions:	 If Share Termination Alternative
is applicable, the provisions of Sections 9.8, 9.9, 9.11 and 9.12 (as modified above) of the Equity Definitions will be applicable, except
that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled”
and all references to “Shares” shall be read as references to “Share Termination Delivery Units”. “Share
Termination Settled” in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.

 

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		(j)	Registration/Private Placement Procedures. If, in the reasonable opinion of Dealer, based
on the advice of counsel, following any delivery of Shares or Share Termination Delivery Property to Dealer hereunder, such Shares or
Share Termination Delivery Property would be in the hands of Dealer subject to any applicable restrictions with respect to any registration
or qualification requirement or prospectus delivery requirement for such Shares or Share Termination Delivery Property pursuant to any
applicable federal or state securities law (including, without limitation, any such requirement arising under Section 5 of the Securities
Act as a result of such Shares or Share Termination Delivery Property being “restricted securities”, as such term is defined
in Rule 144 under the Securities Act, or as a result of the sale of such Shares or Share Termination Delivery Property being subject to
paragraph (c) of Rule 145 under the Securities Act) (such Shares or Share Termination Delivery Property, “Restricted Shares”),
then delivery of such Restricted Shares shall be effected pursuant to either clause
(i) or (ii) below at the election of Company, unless Dealer waives the need for registration/private placement procedures set forth in
(i) and (ii) below. Notwithstanding the foregoing, solely in respect of any Daily Number of Warrants exercised or deemed exercised on
any Expiration Date, Company shall elect, prior to the first Settlement Date for the first applicable Expiration Date, a Private Placement
Settlement or Registration Settlement, consistent with a transaction of similar size, for all deliveries of Restricted Shares for all
such Expiration Dates which election shall be applicable to all remaining Settlement Dates for such Warrants and the procedures in clause
(i) or clause (ii) below shall apply for all such delivered Restricted Shares on an aggregate basis commencing after the final Settlement
Date for such Warrants. The Calculation Agent shall make reasonable adjustments, consistent with a transaction of similar size, to settlement
terms and provisions under this Confirmation to reflect a single Private Placement or Registration Settlement for such aggregate Restricted
Shares delivered hereunder. For the avoidance of doubt, such adjustments will only be commercially reasonable in nature (such as to consider
changes in volatility, expected dividends, stock loan rate or liquidity relevant to the Shares and the ability to maintain a commercially
reasonable hedge position in the Shares) and will not impact Company’s unilateral right to settle in Shares.

 

		(i)	If Company elects to settle the Transaction pursuant to this clause (i) (a “Private Placement
Settlement”), then delivery of Restricted Shares by Company shall be effected in private placement procedures customary for
offerings of comparable size for an issuer comparable to Company with respect to such Restricted Shares commercially reasonably acceptable
to Dealer; provided that Company may not elect a Private Placement Settlement if, on the date of its election, it has taken, or
caused to be taken, any action that would make unavailable either the exemption pursuant to Section 4(a)(2) of the Securities Act for
the sale by Company to Dealer (or any affiliate designated by Dealer) of the Restricted Shares or the exemption pursuant to Section 4(a)(1)
or Section 4(a)(3) of the Securities Act for resales of the Restricted Shares by Dealer (or any such affiliate of Dealer). Company shall
use commercially reasonable efforts to cause the Private Placement Settlement of such Restricted Shares to include customary representations,
covenants, blue sky and other governmental filings and/or registrations, indemnities to Dealer, due diligence rights (for Dealer or any
designated buyer of the Restricted Shares by Dealer), opinions and certificates, and such other documentation as is customary for private
placement agreements for offerings of comparable size for an issuer comparable to Company, all commercially reasonably acceptable to Dealer.
In the case of a Private Placement Settlement, Dealer shall determine the appropriate discount to the Share Termination Unit Price (in
the case of settlement of Share Termination Delivery Units pursuant to Section 9(i) above) or premium to any Settlement Price (in the
case of settlement of Shares pursuant to Section 2 above) applicable to such Restricted Shares in a commercially reasonable manner and
appropriately adjust the number of such Restricted Shares to be delivered to Dealer hereunder. Notwithstanding anything to the contrary
in the Agreement or this Confirmation, the date of delivery of such Restricted Shares shall be the Exchange Business Day following notice
by Dealer to Company of such applicable discount or premium, as the case may be, and the number of Restricted Shares to be delivered pursuant
to this clause (i). For the avoidance of doubt, delivery of Restricted Shares shall be due as set forth in the previous sentence and not
be due on the Share Termination Payment Date (in the case of settlement of Share Termination Delivery Units pursuant to Section 9(i) above)
or on the Settlement Date for such Restricted Shares (in the case of settlement in Shares pursuant to Section 2 above).

 

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		(ii)	If Company elects to settle the Transaction pursuant to this clause (ii) (a “Registration Settlement”),
then Company shall promptly (but in any event no later than the beginning of the Resale Period) file and use its reasonable best efforts
to make effective under the Securities Act a registration statement or supplement or amend an outstanding registration statement in form
and substance reasonably satisfactory to Dealer, to cover the resale of such Restricted Shares in accordance with customary resale registration
procedures, including covenants, conditions, representations, underwriting discounts (if applicable), commissions (if applicable), indemnities
due diligence rights, opinions and certificates, and such other documentation as is customary
for equity resale underwriting agreements of similar size, all reasonably acceptable to Dealer. If Dealer, in its sole reasonable discretion,
is not satisfied with such procedures and documentation Private Placement Settlement shall apply. If Dealer is satisfied with such procedures
and documentation, it shall sell the Restricted Shares pursuant to such registration statement during a period (the “Resale Period”)
commencing on the Exchange Business Day following delivery of such Restricted Shares (which, for the avoidance of doubt, shall be (x)
the Share Termination Payment Date in case of settlement in Share Termination Delivery Units pursuant to Section 9(i) above or (y) the
Settlement Date in respect of the final Expiration Date for all Daily Number of Warrants) and ending on the Exchange Business Day on which
Dealer completes the sale of all Restricted Shares in a commercially reasonable manner or, in the case of settlement of Share Termination
Delivery Units, a sufficient number of Restricted Shares so that the realized net proceeds of such sales equals or exceeds the Payment
Obligation (as defined above). If the Payment Obligation exceeds the realized net proceeds from such resale, Company shall transfer to
Dealer by the open of the regular trading session on the Exchange on the Exchange Business Day immediately following such resale the amount
of such excess (the “Additional Amount”) in cash or in a number of Shares (“Make-whole Shares”)
in an amount that, based on the Settlement Price on such day (as if such day was the “Valuation Date” for purposes of computing
such Settlement Price), has a dollar value equal to the Additional Amount. The Resale Period shall continue to enable the sale of the
Make-whole Shares. If Company elects to pay the Additional Amount in Shares, the requirements and provisions for Registration Settlement
shall apply. This provision shall be applied successively until the Additional Amount is equal to zero. In no event shall Company deliver
a number of Restricted Shares greater than the Maximum Number of Shares.

 

		(iii)	Without limiting the generality of the foregoing, Company agrees that (A) any Restricted Shares delivered
to Dealer may be transferred by and among Dealer and its affiliates and Company shall effect such transfer without any further action
by Dealer and (B) after the period of 6 months from the Trade Date (or 1 year from the Trade Date if, at such time, informational requirements
of Rule 144(c) under the Securities Act are not satisfied with respect to Company) has elapsed in respect of any Restricted Shares delivered
to Dealer, Company shall promptly remove, or cause the transfer agent for such Restricted Shares to remove, any legends referring to any
such restrictions or requirements from such Restricted Shares upon request by Dealer (or such affiliate of Dealer) to Company or such
transfer agent, without any requirement for the delivery of any certificate, consent, agreement, opinion of counsel, notice or any other
document, any transfer tax stamps or payment of any other amount or any other action by Dealer (or such affiliate of Dealer). Notwithstanding
anything to the contrary herein, to the extent the provisions of Rule 144 of the Securities Act or any successor rule are amended, or
the applicable interpretation thereof by the Securities and Exchange Commission or any court change after the Trade Date, the agreements
of Company herein shall be deemed modified to the extent necessary, in the opinion of outside counsel of Company, to comply with Rule
144 of the Securities Act, as in effect at the time of delivery of the relevant Shares or Share Termination Delivery Property.

 

		(iv)	If the Private Placement Settlement or the Registration Settlement shall not be effected as set forth
in clauses (i) or (ii), as applicable, then failure to effect such Private Placement Settlement or such Registration Settlement shall
constitute an Event of Default with respect to which Company shall be the Defaulting Party.

 

    20

     

    

 

		(k)	Limit on Beneficial Ownership.
                                            Notwithstanding any other provisions hereof, Dealer may not exercise any Warrant hereunder
                                            or be entitled to take delivery of any Shares deliverable hereunder, and Automatic Exercise
                                            shall not apply with respect to any Warrant hereunder, to the extent (but only to the extent)
                                            that, after such receipt of any Shares upon the exercise of such Warrant or otherwise hereunder
                                            [and after taking into account any Shares deliverable to Dealer under the letter agreement
                                            dated June 15, 2021 between Dealer and Company regarding Base Warrants (the “Base Warrant
                                            Confirmation”)], (i) the Section 16 Percentage would exceed 8.5%, or (ii) the Share
                                            Amount would exceed the Applicable Share Limit. Any purported delivery hereunder shall be
                                            void and have no effect to the extent (but only to the extent) that, after such delivery
                                            [and after taking into account any Shares deliverable to Dealer under the Base Warrant Confirmation],
                                            (i) the Section 16 Percentage would exceed 8.5%, or (ii) the Share Amount would exceed the
                                            Applicable Share Limit. If any delivery owed to Dealer hereunder is not made, in whole or
                                            in part, as a result of this provision, Company’s obligation to make such delivery
                                            shall not be extinguished and Company shall make such delivery as promptly as practicable
                                            after, but in no event later than one Business Day after, Dealer gives notice to Company
                                            that, after such delivery, (i) the Section 16 Percentage would not exceed 8.5%, and (ii)
                                            the Share Amount would not exceed the Applicable Share Limit.

 

		(l)	Share Deliveries. Notwithstanding anything to the contrary herein, Company agrees that any
delivery of Shares or Share Termination Delivery Property shall be effected by book-entry transfer through the facilities of DTC, or any
successor depositary, if at the time of delivery, such class of Shares or class of Share Termination Delivery Property is in book-entry
form at DTC or such successor depositary.

 

		(m)	Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law,
any right it may have to a trial by jury in respect of any suit, action or proceeding relating to the Transaction. Each party (i) certifies
that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not,
in the event of such a suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party
have been induced to enter into the Transaction, as applicable, by, among other things, the mutual waivers and certifications provided
herein.

 

		(n)	Tax Disclosure. Effective from the date of commencement of discussions concerning the Transaction,
Company and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind,
the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are
provided to Company relating to such tax treatment and tax structure.

 

		(o)	Maximum Share Delivery.

 

		(i)	Notwithstanding any other provision of this Confirmation, the Agreement or the Equity Definitions, in
no event will Company at any time be required to deliver a number of Shares greater than [__] (the “Maximum Number of
Shares”) to Dealer in connection with the Transaction (including, without limitation, any Shares deliverable to Dealer as a
result of any early termination of the Transaction).

 

		(ii)	In the event Company shall not have delivered to Dealer the full number of Shares or Restricted Shares
otherwise deliverable by Company to Dealer pursuant to the terms of the Transaction because Company has insufficient authorized but unissued
Shares that are not reserved for other transactions (such deficit, the “Deficit Shares”), Company shall be continually
obligated to deliver, from time to time, Shares or Restricted Shares, as the case may be, to Dealer until the full number of Deficit Shares
have been delivered pursuant to this Section 9(o)(ii), when, and to the extent that, (A) Shares are repurchased, acquired or otherwise
received by Company or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other consideration),
(B) authorized and unissued Shares previously reserved for issuance in respect of other transactions become no longer so reserved or (C)
Company additionally authorizes any unissued Shares that are not reserved for other transactions; provided that in no event shall
Company deliver any Shares or Restricted Shares to Dealer pursuant to this Section 9(o)(ii) to the extent that such delivery would cause
the aggregate number of Shares and Restricted Shares delivered to Dealer to exceed the Maximum Number of Shares. Company shall immediately
notify Dealer of the occurrence of any of the foregoing events (including the number of Shares subject to clause (A), (B) or (C) and the
corresponding number of Shares or Restricted Shares, as the case may be, to be delivered)
and promptly deliver such Shares or Restricted Shares, as the case may be, thereafter.

 

    21

     

    

 

		(p)	Right to Extend. Dealer may postpone or add, in whole or in part, any Expiration Date or
any other date of valuation or delivery with respect to some or all of the relevant Warrants (in which event the Calculation Agent shall
make appropriate adjustments to the Daily Number of Warrants with respect to one or more Expiration Dates) if Dealer determines, in its
commercially reasonable judgment, that such extension is reasonably necessary or appropriate (i) to preserve Dealer’s commercially
reasonable hedging or commercially reasonable hedge unwind activity hereunder in light of existing liquidity conditions (but only in the
case of a material decrease in liquidity relative to Dealer’s expectations as of the Trade Date) or (ii) based on advice of counsel,
to enable Dealer to effect transactions in Shares in connection with its commercially reasonable hedging, commercially reasonable hedge
unwind or settlement activity hereunder in a manner that would, if Dealer were Issuer or an affiliated purchaser of Issuer, be in compliance
with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer (so long
as such policies and procedures would generally be applicable to counterparties similar to Company and transactions similar to the Transaction);
provided that no such Expiration Date or other date of valuation or delivery may be postponed or added more than 50 Exchange Business
Days after the original Expiration Date or other date of valuation or delivery, as the case may be.

 

		(q)	Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is
not intended to convey to Dealer rights against Company with respect to the Transaction that are senior to the claims of common stockholders
of Company in any United States bankruptcy proceedings of Company; provided that nothing herein shall limit or shall be deemed
to limit Dealer’s right to pursue remedies in the event of a breach by Company of its obligations and agreements with respect to
the Transaction; provided, further, that nothing herein shall limit or shall be deemed to limit Dealer’s rights in
respect of any transactions other than the Transaction.

 

		(r)	Securities Contract; Swap Agreement. The parties hereto intend for (i) the Transaction to
be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States
Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections,
Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction
and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to
constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities
or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer”
as defined in the Bankruptcy Code.

 

		(s)	Agreements and Acknowledgements Regarding Hedging. Company understands, acknowledges and
agrees that: (A) at any time on and prior to the last Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities
or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with
respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging
activities in relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging
or market activities in securities of Issuer shall be conducted and shall do so in a manner that it deems appropriate to hedge its price
and market risk with respect to the Settlement Prices; and (D) any market activities of Dealer and its affiliates with respect to Shares
may affect the market price and volatility of Shares, as well as the Settlement Prices, each in a manner that may be adverse to Company.

 

		(t)	Early Unwind. In the event the sale of the [“Initial Securities”] [“Option
Securities”] (as defined in the Purchase Agreement dated as of June 15, 2021 (the “Purchase Agreement”) among Company,
BofA Securities, Inc., Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC and Truist Securities, Inc., as representatives of the
several Initial Purchasers (the “Initial Purchasers”) is not consummated with the Initial Purchasers for any reason, or Company
fails to deliver to Dealer opinions of counsel as required pursuant to Section 9(a), in each case by 5:00 p.m. (New York City time) on
the Premium Payment Date, or such later date as agreed upon by the parties (the Premium Payment Date or such later date the “Early
Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”), on the Early Unwind Date
and (i) the Transaction and all of the respective rights and obligations of Dealer and Company under the Transaction shall be cancelled
and terminated and (ii) each party shall be released and discharged by the other party from and agrees not to make any claim against the
other party with respect to any obligations or liabilities of the other party arising out of and to be performed in connection with the
Transaction either prior to or after the Early Unwind Date. Each of Dealer and Company represents and acknowledges to the other that,
upon an Early Unwind, all obligations with respect to the Transaction shall be deemed fully and finally discharged.

 

    22

     

    

 

		(u)	Payment by Dealer. In the event that (i) an Early Termination Date occurs or is designated
with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default arising under
Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Dealer owes to Company an amount calculated under Section 6(e) of the
Agreement, or (ii) Dealer owes to Company, pursuant to Section 12.7 or Section 12.9 of the Equity Definitions, an amount calculated under
Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.

 

		(v)	Adjustments. For the avoidance of doubt, whenever the Calculation Agent, Determining Party
or Dealer is called upon to make an adjustment or determine an amount pursuant to the terms of this Confirmation or the Equity Definitions
to take into account the effect of an event, the Calculation Agent, Determining Party or Dealer, as the case may be, shall make such adjustment
or determine such amount, as the case may be, by reference to the effect of such event on the Hedging Party, assuming that the Hedging
Party maintains a commercially reasonable hedge position.

 

		(w)	Listing of Warrant Shares. Company shall have submitted an application for the listing of
the Warrant Shares on the Exchange, and such application and listing shall have been approved by the Exchange, subject only to official
notice of issuance, in each case, on or prior to the Premium Payment Date. Company agrees and acknowledges that such submission and approval
shall be a condition precedent for the purpose of Section 2(a)(iii) of the Agreement with respect to each obligation of Dealer under Section
2(a)(i) of the Agreement.

 

		(x)	Amendment. This Confirmation and the Agreement may not be modified, amended or supplemented,
except in a written instrument signed by Company and Dealer.

 

		(y)	Counterparts. This Confirmation may be executed in several counterparts, each of which shall
be deemed an original but all of which together shall constitute one and the same instrument.

 

		(z)	Payee Tax Representations. For the purpose of Section 3(f) of the Agreement, the parties
make the respective representations below:

 

		(i)	Company represents that it is a corporation created or organized in the United States or under the laws
of the United States and its U.S. taxpayer identification number is 62-0812904. It is “exempt” within the meaning of Treasury
Regulation sections 1.6041-3(p) and 1.6049- 4(c) from information reporting on IRS Form 1099 and backup withholding.

 

		(ii)	[___]

 

		(aa)	Tax Forms. For the purpose of Section 4(a)(i) of the Agreement, Dealer shall provide to
Company a valid U.S. Internal Revenue Service Form [W-9][W-9/W-8], or any successor thereto, (i) on or before the date of execution of
this Confirmation, (ii) promptly upon reasonable demand by Company and (iii) promptly upon learning that any such tax form previously
provided by Dealer has become obsolete or incorrect. For the purpose of Section 4(a)(i) of the Agreement, Company shall provide to Dealer
a valid U.S. Internal Revenue Service Form W-9, or any successor thereto, (i) on or before the date of execution of this Confirmation,
(ii) promptly upon reasonable demand by Dealer and (iii) promptly upon learning that any such tax form previously provided by Company
has become obsolete or incorrect.

 

		(bb)	United States Foreign Account Tax Compliance Act. “Tax” and “Indemnifiable
Tax”, each as defined in Section 14 of the Agreement, shall not include any withholding tax imposed or collected pursuant to Sections
1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future regulations or
official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation,
rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections
of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding
of which is required by applicable law for the purposes of Section 2(d) of the Agreement.

 

		(cc)	HIRE Act. “Tax” and “Indemnifiable Tax”, each as defined in Section
14 of the Agreement, shall not include any tax imposed on payments treated as dividends from sources within the United States under Section
871(m) of the Code or any regulations issued thereunder.

 

		(dd)	[Insert Dealer Boilerplate & QFC]

 

    23

     

    

 

Please confirm that the foregoing
correctly sets forth the terms of our agreement by executing this Confirmation and returning it to Dealer.

  

	 	Very truly yours,
	 	 
	 	[DEALER] 
	 	 
	 	By:	 
	 	Authorized Signatory
	 	Name:

 

Accepted and confirmed

as of the Trade Date:

 

	CRACKER BARREL OLD COUNTRY STORE, INC.
	 
	By:	 	 
	Authorized Signatory
	Name:ex_258098.htm

Exhibit 10.1

 

Agreement by and between:

 

The Coretec Group, Inc.

333 Jackson Plaza, Suite 1200

Ann Arbor, MI 48103

 

and

 

Matthew Kappers

Concordia Financial Group, LLC

1354 Grace Ave

Cincinnati, Ohio 45208

 

The Coretec Group, Inc. (hereinafter referred to as the "Company") is pleased to offer Matthew Kappers (hereinafter "CEO") a position as Chief Executive Officer (CEO) and Member of the Board of Directors (Member) detailed in this agreement (hereinafter "Agreement") on the terms and conditions set forth herein effective as of the 15th day of June 2021 (hereinafter the "Effective Date"). Company and CEO may be referred to herein, whether singular or plural, as "Party" or "Parties" as may be applicable.

 

	 	
			1.

				
			This Agreement shall be effective as of the Effective Date (hereinafter "Starting Date") June 15th, 2021 and shall continue in full force and effect through December 15th, 2021 (hereinafter "Ending Date") unless: a) earlier terminated by either Party or mutually terminated by the Parties with or without cause upon thirty (30) days' prior written notice by one Party to the other Party; or b) upon the earlier of the date of any uncured default or breach of this Agreement; or c) extension of the Ending Date or any other additional period that this Agreement shall be in effect that the Parties mutually desire and agree to reduce to writing and sign. Any such termination, which shall be accomplished without penalty unless otherwise specifically stated herein, shall not relieve or release either Company or CEO from any rights, liabilities or obligations that may have accrued under the law or terms and conditions of this Agreement prior to the date of such termination.

			
	 	 	 
	 	 	In the event that either Party hereto shall commit any material breach or default in any of the terms or conditions of this Agreement, and also shall fail to remedy such default or breach within thirty (30) calendar days after receipt of written notice thereof from the other Party hereto, the Party giving notice may, at its option and in addition to any other remedies which it may have at law or in equity, terminate this Agreement by sending notice of termination in writing to the other Party to such effect, and such termination shall be effective as of the date of the receipt of such notice.

 

	 	
			2.

				
			CEO's position shall be that of an independent contractor and not as an employee of the Company. Concordia Financial Group, LLC will be CEO’s entity that will invoice the Company.

			

 

 

 

 

	 	
			3.

				
			CEO shall make approximately 24 hours per week available to the Company. In the event that the CEO’s time to fulfill the responsibilities of the role is materially more or less than 24 hours per week, then the Parties will amend this agreement.

			

 

	 	
			4.

				
			Any travel by CEO on behalf of Company shall be at the prior request and approval of the Company. Subject to Company's prior request and approval, the Company agrees to reimburse CEO for the following expenses (that are allowed by Company) but only upon prompt submission by CEO to Company of an expense report(s) with written record(s) or other proof of those expense(s) specified in any such expense report as provided for in this Agreement:

			

 

	 	
			a.

				
			reasonable travel expenses such as airfare, train fare, automobile mileage, re-fueling of automobiles, automobile rentals, and taxi fares to and from the place of consultation if it is a location or locations other than the CEOs home address or Company office address; and

			

 

	 	
			b.

				
			reasonable living expenses at such location(s) if it is a location or locations other than in the CEOs hometown or Company office hometown; and

			

 

	 	
			c.

				
			any other out-of-pocket expenses incurred by CEO in carrying out consulting related services that Company requests and approves prior to CEO incurring any such expense(s).

			

 

	 	
			d.

				
			Payment for reimbursement of the aforementioned expenses shall be made within 30 calendar days upon CEO's submittal of invoices, expense reports, receipts, and related documentation or other information as specified in the payment paragraph of this Agreement.

			

 

	 	
			5.

				
			For services as CEO, CEO shall be paid $12,500 per month upon submission of invoice, payable in net 10 days, following each month end via email to accounting@thecoretecgroup.com.

			

 

	 	
			6.

				
			In addition, CEO shall receive five million stock options priced at the market’s close the day this agreement is signed. Options shall be vested monthly over six months as long a CEO is still retained by the Company. For services as Member, CEO shall be paid the same compensation as other board members.

			

 

	 	
			7.

				
			During the term and the extension thereof, the Company shall maintain suitable director and officer insurance for a company of substantially similar size and position. Such insurance shall cover and include the Director.

			

 

	 	
			8.

				
			CEO will enter into a Directors Agreement which has normal and customary terms and conditions of a public company board of directorship.

			

 

 

 

 

	 	
			9.

				
			CEO shall report to the Board of Directors of The Coretec Group Inc., during the term of this Agreement.

			

 

	 	
			10.

				
			Any and all services or activities performed by CEO that are requested by Company shall be subject to the terms and conditions of the Confidentiality Agreement by and between CEO and Company, effective as of Effective Date, which shall control. Specifically, CEO shall not disclose to any other parties whatsoever any information or data or any unpublished information concerning Company business and research activities and interests with which CEO becomes familiar in CEO's contacts or other interactions with Company without Company's prior written consent. Similarly, CEO shall not disclose to other parties without Company's prior written consent the results of or the specific nature of CEO's work performed under this Agreement.

			
	 	 	 
	 	 	Subject to and in accordance with paragraph 7, CEO agrees to communicate to Company any and all ideas, creations, concepts, improvements, and other creative works which CEO conceives or makes or produces, reduces to practice, or otherwise manifests and which arise from CEO services or other services or activities for Company pursuant to and under this Agreement, and CEO hereby agrees to assign all rights, copyrights, control, and titles to any and all such ideas, creations, concepts, improvements, and other creative works to Company. If Company considers any and all such ideas, creations, concepts, improvements, and other creative works to be inventions on which Company wishes to apply for United States or foreign patents, copyrights, trademarks, or other protection(s) of intellectual property, CEO shall, at Company's request, execute any and all papers, documents, records, or other information deemed necessary or advisable for the filing and prosecution of any such patent applications, copyrights, or trademarks and for providing confirmation of Company legal title to and control of any and all such inventions, applications, and any patents granted. Company shall bear all legal costs involved with CEO's execution of any and all papers, documents, records, or other information deemed necessary or advisable for the filing and prosecution of any such patent applications, copyrights, or trademarks and for providing confirmation of Company legal title to and control of any and all such inventions, applications, and any patents granted.

 

	 	
			11.

				
			CEO's obligations under paragraph 8 shall survive and continue beyond the termination of this Agreement insofar as such obligations relate to CEO's services or other activities under this Agreement prior to termination of this Agreement.

			
	 	 	 
	 	 	It is understood by the Parties and CEO agrees that CEO has no obligations that are inconsistent with accepting the terms and conditions of this Agreement and that CEO agrees that CEO shall not undertake any such inconsistent obligations or render any services or activities that are inconsistent with this Agreement while this Agreement is in effect. If this understanding is correct and if CEO also accepts the terms and conditions set forth herein, please so indicate by signing and dating this agreement.

 

 

 

 

	OFFERED BY The Coretec Group Inc.: 	 	ACCEPTED BY Matthew Kappers:
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	By:  	 
	 	 	 	 	 
	 	 	 	 	Matthew Kappers
	 	 	 	 	Concordia Financial Group, LLC
	 	 	 	 	 
	Date of Signature:	 	 	Date of Signature:

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