Document:

EXHIBIT 10.2

 

NEITHER
THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933 AND APPLICABLE STATE SECURITIES LAWS AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (I) AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (AND APPLICABLE STATE SECURITIES LAWS) OR (II) AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS.

 

CACHET
FINANCIAL SOLUTIONS, INC.

a
Delaware corporation

 

WARRANT
TO PURCHASE COMMON STOCK

 

	Warrant
    No. W2015-11-16	Issue
    Date: November 16, 2015

 

Cachet
Financial Solutions Inc., a Delaware corporation (the “Company”), hereby certifies that, for value received,
Lawrence C. Blaney its permitted registered assigns (the “Holder”), is entitled to purchase from the Company
up to a total of 33,000 shares of common stock, $0.0001 par value per share (the “Common Stock”), of the Company
(the “Warrant Shares”) at a purchase price per share equal to $0.4816 (as adjusted from time to time as provided
herein, the “Exercise Price”), at any time and from time to time from and after the Issue Date hereof (as noted
above) and through and including 5:00 p.m., Minneapolis time, on November 16, 2020 (the “Expiration Date”),
subject to the following terms and conditions:

 

1.
Registration of Warrants. The Company shall register this Warrant, upon records to be maintained by the Company for that
purpose (the “Warrant Register”), in the name of the record Holder (which shall include the initial Holder
or, as the case may be, any registered assignee to which this Warrant is permissibly assigned hereunder) from time to time. The
Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise
hereof or any distribution to the Holder, and for all other purposes, absent actual written notice to the contrary.

 

2.
Registration of Transfers. Subject to the restrictions on transfer set forth in Section 11(b) and compliance with all applicable
securities laws, the Company shall register the transfer of all or any portion of this Warrant in the Warrant Register upon (i)
surrender of this Warrant, together with the Form of Assignment attached hereto duly completed and signed, to the Company at its
address specified herein and (ii) the delivery, at the request of the Company, (A) by either the transferor or transferee, of
an opinion of counsel, reasonably satisfactory to the Company in both form and substance, to the effect that the transfer of this
Warrant (or applicable portion thereof) may be made pursuant to an available exemption from the registration requirements of the
Securities Act of 1933 (the “Securities Act”) and all applicable state securities laws and/or (B) delivery
by the transferee of a written statement to the Company certifying that the transferee is an “accredited investor”
as defined in Rule 501(a) under the Securities Act and making representations to the Company customary for transactions of such
type. Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant
(a “New Warrant”) evidencing the portion of this Warrant so transferred shall be issued to the transferee,
and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the transferring
Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of
the rights and obligations of a Holder of a Warrant.

 

    	 

     

    

 

3.
Exercise and Duration of Warrants.

 

(a)
All or any part of this Warrant shall be exercisable by the registered Holder at any time and from time to time on or after the
Issue Date and through and including 5:00 p.m. Minneapolis time on the Expiration Date. At 5:00 p.m. Minneapolis time on the Expiration
Date, the portion of this Warrant not exercised prior thereto shall be void and of no value and this Warrant shall terminate and
be cancelled on the Warrant Register and other applicable books and records of the Company.

 

(b)
The Holder may exercise this Warrant by delivering to the Company (i) an exercise notice in the form attached hereto (the “Exercise
Notice”), appropriately completed and duly signed, and (ii) payment of the Exercise Price for the number of Warrant
Shares as to which this Warrant is being exercised. The date on which such items are delivered to the Company (as determined in
accordance with the notice provisions hereof) is an “Exercise Date.” The right of the Holder to exercise this
Warrant and receive Warrant Shares pursuant hereto shall at all times be subject to the availability of a valid exemption from
the registration requirements of the Securities Act, as determined by the Company in its reasonable discretion. The Holder shall
not be required to deliver the original Warrant in order to effect an exercise hereunder. Execution and delivery of the Exercise
Notice shall have the same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to
purchase the remaining number of Warrant Shares, and the Company shall update the Warrant Register upon any partial exercise to
reflect the number of Warrant Share purchasable hereunder. The Warrant Register of the Company shall be definitive and controlling
for all purposes absent manifest error. Therefore, the Holder is hereby put on notice that the number of Warrant Shares contained
on the face of this Warrant may not represent the actual number of Warrant Shares purchasable under this Warrant.

 

4.
Delivery of Warrant Shares. Upon exercise of this Warrant, the Company shall promptly (but in no event later than ten business
days after the Exercise Date) issue or cause to be issued and cause to be delivered to (or upon the written order of) the Holder,
in such name or names as the Holder may designate, a certificate for the Warrant Shares issuable upon such exercise. The certificate
will contain appropriate restrictive legends unless a registration statement covering the resale of the Warrant Shares and naming
the Holder as a selling stockholder thereunder is then effective or the Warrant Shares are otherwise freely transferable without
volume restrictions pursuant to Rule 144 under the Securities Act. The Holder, or any person permissibly so designated by the
Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant Shares as of the Exercise
Date.

 

5.
Charges, Taxes and Expenses. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant
shall be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense
in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however,
that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration
of any certificates for Warrant Shares or Warrants in a name other than that of the Holder or an affiliate thereof. The Holder
shall be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving
Warrant Shares upon exercise hereof.

 

    	2

     

    

 

6.
Replacement of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be
issued in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant,
but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction (in such case) and,
in each case, a customary and reasonable indemnity, if requested. Applicants for a New Warrant under such circumstances shall
also comply with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company
may prescribe. If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated
Warrant to the Company as a condition precedent to the Company’s obligation to issue the New Warrant.

 

7.
Reservation of Warrant Shares. The Company covenants that it will at all times reserve and keep available out of the aggregate
of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares
upon exercise of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the
exercise of this entire Warrant, free from preemptive rights or any other contingent purchase rights of persons other than the
Holder (taking into account the adjustments and restrictions of Section 8). The Company covenants that all Warrant Shares so issuable
and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be
duly and validly authorized, issued and fully paid and non-assessable.

 

8.
Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject
to adjustment from time to time as set forth in this Section 8.

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on
its Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii)
subdivides its outstanding shares of Common Stock into a larger number of shares, or (iii) combines its outstanding shares of
Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and the denominator
of which shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant
to clause (i) of this paragraph shall become effective immediately after the record date for the determination of shareholders
entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall
become effective immediately after the effective date of such subdivision or combination.

 

    	3

     

    

 

(b)
Fundamental Transactions. If, at any time while this Warrant is outstanding (i) the Company effects any merger or consolidation
of the Company with or into another person, in which the Company is not the survivor, (ii) the Company effects any sale of all
or substantially all of its assets or a majority of its Common Stock is acquired by a third party, in each case, in one or a series
of related transactions, (iii) any tender offer or exchange offer (whether by the Company or another person) is completed pursuant
to which all or substantially all of the holders of Common Stock are permitted to tender or exchange their shares for other securities,
cash or property, or (iv) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant
to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (including but not
limited to any triangular merger transaction in which the Company survives the merger but its outstanding Common Stock is converted
thereupon into the right to receive securities of another person, but excluding any subdivision or combination of shares of Common
Stock covered by Section 8(a) above) (in any such case, a “Fundamental Transaction”), then, in any such case,
(X) the Holder shall have the right thereafter to receive, upon exercise of this Warrant, the same amount and kind of securities,
cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been,
immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full
of this Warrant without regard to any limitations on exercise contained herein (the “Alternate Consideration”),
or (Y) at the discretion of the Company, the Holder shall be paid an aggregate amount of cash equal to the positive difference,
if any, of the total value of the Warrant Shares purchasable under this Warrant (determined by reference to the value ascribed
to the Common Stock in the Fundamental Transaction) less the aggregate Exercise Price for all such Warrant Shares. The Company
shall not effect any such Fundamental Transaction unless prior to or simultaneously with the consummation thereof, any successor
to the Company, surviving entity or the corporation purchasing or otherwise acquiring such assets or other appropriate corporation
or entity shall assume the obligation to deliver to the Holder, such Alternate Consideration as, in accordance with the foregoing
provisions, the Holder may be entitled to purchase and/or receive (as the case may be), and the other obligations under this Warrant.
The provisions of this paragraph (c) shall similarly apply to subsequent transactions analogous to a Fundamental Transaction.
Notwithstanding anything else to the contrary contained herein, in the event that this Warrant is out-of-the-money immediately
prior to the consummation of a Fundamental Transaction, the Company shall have the right to cancel this Warrant in its entirety.

 

(c)
Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraph (a) of this Section,
the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately,
so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant
Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.

 

(d)
Calculations. All calculations under this Section 8 shall be made to the nearest cent or the nearest 1/100th of a share,
as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or
for the account of the Company, and the sale or issuance of any such shares shall be considered an issue or sale of Common Stock.

 

(e)
Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 8, the Company at its expense will,
at the written request of the Holder, promptly compute such adjustment, in good faith, in accordance with the terms of this Warrant
and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number
or type of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing the transactions
giving rise to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the
Company will promptly deliver a copy of each such certificate to the Holder and to the Company’s transfer agent.

 

    	4

     

    

 

(f)
Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution
of cash, securities or other property in respect of its Common Stock, (ii) authorizes or approves, enters into any binding agreement
contemplating or solicits shareholder approval for any Fundamental Transaction, or (iii) authorizes the voluntary dissolution,
liquidation or winding up of the affairs of the Company, then, except if such notice and the contents thereof shall be deemed
to constitute material non-public information, the Company shall deliver to the Holder a notice describing the material terms
and conditions of such transaction at least five business days prior to the applicable record or effective date on which a person
would need to hold Common Stock in order to participate in or vote with respect to such transaction, and the Company will take
all steps reasonably necessary in order to insure that the Holder is given the practical opportunity to exercise this Warrant
prior to such time so as to participate in or vote with respect to such transaction; provided, however, that the failure to deliver
such notice or any defect therein shall not affect the validity of the corporate action required to be described in such notice.

 

9.
No Fractional Shares. No fractional Warrant Shares will be issued in connection with any exercise of this Warrant. In lieu
of any fractional shares which would otherwise be issuable, the number of Warrant Shares to be issued shall be rounded down to
the next whole number and no payment for any dropped fraction will be made.

 

10.
Notices. Any and all notices or other communications or deliveries hereunder (including without limitation any Exercise
Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile number specified below on or prior to 5:00 p.m. Minneapolis time
on a business day, (ii) the next business day after the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number specified below on a day that is not a business day or later than 5:00 p.m. Minneapolis time
on any business day, (iii) the business day following the date of mailing, if sent by nationally recognized overnight courier
service specifying next business day delivery, or (iv) upon actual receipt by the party to whom such notice is required to be
given, if by hand delivery. The address and facsimile number of a party for such notices or communications shall be as set forth
below (subject to change upon at least two business days’ prior notice to the other party in accordance with this Section).

 

	 	If
    to the Company:	Cachet
    Financial Solutions, Inc.
	 	 	Southwest
    Tech Center A
	 	 	18671
    Lake Drive East
	 	 	Minneapolis,
    MN 55317
	 	 	Attention:
    Darin P. McAreavey, CFO
	 	 	Facsimile:
    (952) 698-6999

 

	 	If
    to Holder:	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	Facsimile:	 

 

    	5

     

    

 

11.
General Provisions.

 

(a)
The Holder, solely in such person’s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends
or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed
to confer upon the Holder, solely in such person’s capacity as the Holder of this Warrant, any of the rights of a stockholder
of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock,
reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription
rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which such person is then entitled to receive
upon the due exercise of this Warrant.

 

(b)
Subject to the restrictions on transfer set forth on the first page hereof (legend) and subject to strict compliance with applicable
securities laws, this Warrant may be assigned by the Holder. This Warrant may not be assigned by the Company except to a successor
or assignee in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the benefit of the parties
hereto and their respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be construed
to give to any person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this
Warrant.

 

(c)
ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MINNESOTA WITHOUT REGARD TO THE CONFLICTS-OF-LAW PRINCIPLES THEREOF.

 

(d)
The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect
any of the provisions hereof.

 

(e)
In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability
of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby, and the parties will
attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor,
and upon so agreeing, shall incorporate such substitute provision in this Warrant.

 

(f)
This Warrant constitutes the entire agreement between the parties with respect to the subject matter hereof. This Warrant may
be amended only in writing signed by the Company and the Holder, or their successors and assigns. Neither the Company nor Holder
has made or relied on any representations not contained in this Warrant.

 

    	6

     

    

 

12.
Dispute Resolution.

 

(a)
To the greatest extent possible, the parties will endeavor to resolve any disputes relating to this Warrant through amicable negotiations.
Failing an amicable settlement, any controversy, claim or dispute arising under or relating to this Warrant, including the existence,
validity, interpretation, performance, termination or breach of the agreement evidenced by this Warrant, will finally be settled
by binding arbitration before a single arbitrator (the “Arbitration Tribunal”) which will be jointly appointed
by the parties. The Arbitration Tribunal shall self-administer the arbitration proceedings utilizing the Commercial Rules of the
American Arbitration Association (the “Association”); provided, however, the Association shall not be involved
in administration of the arbitration. The arbitrator must be a retired judge of a state or federal court of the United States
or a licensed lawyer with at least 15 years of corporate or commercial law experience from a law firm with at least ten attorneys
and at least an AV rating by Martindale Hubbell. If the parties cannot agree on an arbitrator, any party may request any court
sitting in Minneapolis, Minnesota to appoint an arbitrator, which appointment will be final. The arbitration will be held in Minneapolis,
Minnesota.

 

(b)
Each party will have discovery rights as provided by the Federal Rules of Civil Procedure within the limits imposed by the arbitrator;
provided, however, that all such discovery will be commenced and concluded within 60 days of the selection of the arbitrator.
It is the intent of the parties that any arbitration will be concluded as quickly as reasonably practicable. Once commenced, the
hearing on the disputed matters will be held four days a week until concluded, with each hearing date to begin at 9:00 a.m. and
to conclude at 5:00 p.m. The arbitrator will use all reasonable efforts to issue the final written report containing award or
awards within a period of five business days after closure of the proceedings. Failure of the arbitrator to meet the time limits
of this Section will not be a basis for challenging the award. The Arbitration Tribunal will not have the authority to award punitive
damages to either party. Each party will bear its own expenses, but the parties will share equally the expenses of the Arbitration
Tribunal. The Arbitration Tribunal shall award attorneys’ fees and other related costs payable by the losing party to the
successful party as it deems equitable. This terms of this Warrant will be enforceable, and any arbitration award will be final
and non-appealable, and judgment thereon may be entered in any court of competent jurisdiction.

 

*
* * * * * *

 

    	7

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its authorized officer as of December 29, 2014.

 

	 	CACHET
    FINANCIAL SOLUTIONS, INC.
	 	 	 
	 	By:	/s/
    Jeffrey C. Mack
	 	 	Jeffrey
    C. Mack
	 	 	Chief
    Executive Officer

 

    	8

     

    

 

FORM
OF EXERCISE NOTICE

 

(To
be executed by the Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant)

 

Ladies
and Gentlemen:

 

	(1)	The
    undersigned is the Holder of Warrant No. __________ (the “Warrant”) issued by Cachet Financial Solutions, Inc.,
    a Delaware corporation (the “Company”). Capitalized terms used herein and not otherwise defined herein have the
    respective meanings set forth in the Warrant.
	 	 
	(2)	The
    undersigned hereby exercises its right to purchase __________ Warrant Shares pursuant to the Warrant.
	 	 
	(3)	Pursuant
    to this Exercise Notice, the Company shall deliver to the Holder _____________ Warrant Shares in accordance with the terms
    of the Warrant.

 

	Name
    of Holder:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Title
    (if applicable):	 	 
	 	 	 
	Dated:	 	 

 

Note:
signature must conform in all respects to name of Holder as specified on the face of the Warrant.

 

    	 

    	 

    

 

FORM
OF ASSIGNMENT

 

(To
be completed and signed only upon transfer of Warrant)

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto __________________ (the “Transferee”) the
right represented by the within Warrant to purchase shares of Common Stock of Cachet Financial Solutions, Inc. (the “Company”)
to which the within Warrant relates and appoints _____________ as the attorney-in-fact of the undersigned to transfer said right
on the books of the Company with full power of substitution in the premises. In connection therewith, the undersigned represents,
warrants, covenants and agrees to and with the Company that:

 

	(a)	the
    offer and sale of the Warrant contemplated hereby is being made in compliance with Section 4(1) of the United States Securities
    Act of 1933 (the “Securities Act”) or another valid exemption from the registration requirements of Section 5
    of the Securities Act and in compliance with all applicable securities laws of the states of the United States;
	 	 
	(b)	the
    undersigned has not offered to sell the Warrant by any form of general solicitation or general advertising, including but
    not limited to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media
    or broadcast over television or radio, and any seminar or meeting whose attendees have been invited by any general solicitation
    or general advertising;
	 	 
	(c)	the
    undersigned has read the Transferee’s investment letter included herewith, and to its actual knowledge, the statements
    made therein are true and correct; and
	 	 
	(d)	the
    undersigned understands that the Company may condition the transfer of the Warrant contemplated hereby upon the delivery to
    the Company by the undersigned or the Transferee, as the case may be, of a written opinion of counsel (which opinion shall
    be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that such transfer
    may be made without registration under the Securities Act and under applicable securities laws of the states of the United
    States.

 

	Name
    of Holder:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Title
    (if applicable):	 	 
	 	 	 
	Dated:	 	 

 

Note:
signature must conform in all respects to name of Holder as specified on the face of the Warrant.

 

Address
of Transferee: _____________________________________________________________________*Exhibit has
been omitted and the Company is granting confidential treatment pursuant to Rule 406 under the Securities Act of 1933, as amended
(the “Securities Act”)*

 

DSWISS SDN. BHD.

and 

HBW INTERNATIONAL MARKETING SDN.
BHD.

 

 

FULL
SERVICE SUPPLY AGREEMENT

    	 

    	 

    

Contents

SECTIONPage

	1.   Definitions	3
	2.   Scope of contract	4
	3.   Purchase Orders	5
	4.   Delivery and export control	5
	5.   Client's Obligations	6
	6.   Prices and terms of payment	6
	7.   Quality Control	7
	8.   Intellectual Property Rights	7
	9.   Term and termination	8
	10.   Warranty; limitation of liability	9
	11.   Confidential information	10
	12.   Force majeure	10
	13.   Amendments	11
	14.   Subcontract	11
	15.   Assignment	11
	16.   Severability	11
	17.   Notices	11
	18.   Entire agreement	12
	19.   Governing law and jurisdiction	12
	20.   List of Exhibits	12

By
and between 

		(1)	DSWISS SDN. BHD. ,a company organized and registered
under the laws of Malaysia with offices at ( address) represented by MR. VINCENT LEONG MING
CHIA, in his capacity as legal representative duly authorized to represent it (hereinafter:
“Client”)

on one hand, and

		(2)	HBW INTERNATIONAL MARKETING SDN. BHD., a company organized and registered under the laws
of Malaysia with offices at No.34, Jalan Jasmin 6/KS6, Bandar Botanic, 41200, Klang, Selangor Darul Ehsan, Malaysia, represented
by Dato’ Louis Chai Ming Foo in his capacity as Managing Director (hereinafter “Supplier”)

on the other hand,

(Supplier and Client are hereinafter
collectively referred to as “Parties“ and singularly as “Party”)

 

Preamble

Whereas,
Supplier is a manufacturer that develops and manufactures health food based and traditional category products, using its own formulations
and/or formulations of any of its Affiliated Companies (as hereinafter defined);

Whereas,
Client is engaged in the sale of health food based products at wholesale and/or retail level and wish to purchase from Supplier
certain products as listed under Exhibit 1 (as amended from time to time);

Whereas,
by this Agreement (as hereinafter defined) Client and Supplier wish to determine a set of terms and conditions which shall be generally
applicable to all forthcoming occasions when Supplier and Client will be parties to and execute sale-purchase and/or supply agreements;

 

It is agreed as follows:

1.              
Definitions

1.1           
The expressions beginning by capital letters set out herein shall have the meanings specifically ascribed thereto herein
below, unless the context otherwise requires. The words defined in the singular form shall include the plural form and vice-versa:

Affiliated Companies
means with regard to either Party a company controlling, controlled by or under common control with such Party, and “control”
means the effective ability to direct the management of a company, whether through the ownership of a majority of the voting shares
of such company, by contract or otherwise.

Agreement means
this agreement and all its Exhibits as listed under Section 20 (as eventually may be amended from time to time pursuant to Section
13).

Client means
the company (or companies) or individual entity(ies) as defined above

Confidential
Information shall have the meaning as provided under Clause 11.4.

Delivery means
the delivery of the Products pursuant to Clause 4.1 or any different delivery term mutually agreed in writing by the Parties. 

Delivery Date
means the delivery date confirmed pursuant to Clause 3.4.

Due Date means
the date when payment is due pursuant to Clause 6.5.

Event of Default
means the event of default as defined under Clause 9.3.

Force Majeure
means in relation to either Party, any circumstances beyond the reasonable control of that Party (e.g. any strike, lockout
or other form of industrial action, fires, explosion, war, civil commotions, riots, sabotage, applicable legislation and regulations
there-under, interruptions by government etc). See also Section 12.

Free Issue Parts
means any raw materials, semi-processed goods and/or packaging materials to be furnished by Client necessary for manufacturing
the Products.

Packaging’s
Minimum Quantity (or Minimum Order Quantity of Packaging or MOQ Packaging) means the minimum
quantity of Packaging Components that based on packaging components’ vendor Supplier is obliged to buy for each type of Packaging
Component, as indicated in Exhibit 1.

Price means
the unitary price of each Product as set out in Exhibit 1 hereto (as eventually may be amended from time to time) and/or the updated/new
unitary price of each Product as quoted after the date of this Agreement pursuant to Section 6;

Product means
the health food based products as set out in Exhibit 1 (as may be amended from time to time) and/or listed in the Purchase Order;

Production’s
Minimum Quantity (or Minimum Order Quantity of Products or MOQ Products) means the minimum
quantity of Products that based on its manufacturing capacity and on the Product features Supplier can manufacture for each type
of Products, as indicated in Exhibit 1.

Purchase Order
means the purchase order placed by Client to Supplier for the supply of the Products as confirmed by Supplier pursuant to Section
3;

Reject Period
means the time period from the date of effective Delivery of the Products until 14 (fourteen) working days following such date.

Supplier means
the company (or companies) as defined above

Technical Specifications
means the technical specifications (e.g. product quality dossier, master product specification etc) provided by Supplier and/or
any other technical specification related to the Products agreed in writing and/or signed between the Parties.

1.2           
The headings in this Agreement are for convenience only and shall not affect its interpretation.

2.              
Scope of contract

2.1           
Subject to the terms and conditions of this Agreement and based on firm binding purchase orders from Client to Supplier,
Supplier, within the limits of its manufacturing capacity, shall manufacture and sell to Client, which hereby undertakes to buy,
the health food based products hereinafter listed in Exhibit 1 (as may be amended from time to time pursuant to this Agreement)
with a full service procedure, purchasing all materials (raw materials, packaging materials and labelling etc) necessary for the
manufacturing of the Products.

3.              
Purchase Orders

3.1           
This Agreement defines the terms and conditions for the supply of the Products manufactured upon firm purchase orders placed
by Client to be confirmed by Supplier.

3.2           
Independently from the reference above, commencing from the date of signature of this Agreement, any sale-purchase/supply
between the Parties shall be subject to the terms of this Agreement unless a deviation is specifically agreed in writing by the
Parties. In any case, any other purchasing or standard conditions (e.g. printed on the back of the purchase-order form) shall be
null and void.

3.3           
Client’s purchase order shall define quantities (that must not be lower than the minimum quantities for both finished
Products as per Exhibits 1 hereto), agreed price and delivery date. It is agreed that Client shall accept delivery of the Products
with a tolerance of + / - 10% against ordered quantities.

3.4           
At receipt of the purchase order Supplier, upon verification of its production spaces and subsequent delivery, within min.
14 (fourteen) working days from the date of receipt of the purchase order, will inform Client about the final confirmed Delivery
Date which shall be considered the contractual delivery date valid between the Parties.

3.5           
Any Free Issue Parts, specifications, samples and other materials (if any) supplied to Supplier or paid by Client shall
be held by Supplier in good condition at Supplier’s risk; they shall only be used by Supplier in performing this Agreement
and shall not be disclosed to any third party.

4.              
Delivery and export control

4.1           
Unless otherwise agreed in writing, the Delivery of the Products shall be ex-works at the place named by Supplier.

4.2           
Purchase Orders cannot be cancelled or shipment postponed except upon written notice to and acceptance by Supplier. Supplier
will attempt to accommodate Client’s Purchase Order cancellation requests, but reserves the right, in its sole discretion,
to reject any attempt by Client to cancel an order under certain reason, for instance, where arrangements to purchase raw materials
and packaging materials have been made. Any changes to the requirements or delivery schedule give Supplier the title to (i) charge
Client an equitable amount, and/or (ii) receive an equitable extension in the Delivery Dates.

4.3           
In the lack of pick up or shipment by Client on the EXW Delivery Date, Supplier may, but is not obliged to, keep the Products
on deposit free of charge (and at Client’s sole risk) for a maximum period of 1 (one) month.

4.4           
Client agrees that it will not, and that Client will inform its customers that they may not, in any form, export, re-export,
resell, ship or divert, directly or indirectly, any documentation, technical data or a direct Product or any parts thereof to any
country for which an applicable government or any agency thereof, requires an export license or other governmental approval without
first obtaining such license or approval. Client shall also obtain at Client’s own expense any necessary governmental permits
or licenses required to import the Products or any part thereof into any other country.

5.              
Client's Obligations

5.1           
As a condition for enabling Supplier to perform its quality obligations and to fulfil the Delivery Date(s), Client shall
timely perform or provide, as the case may be, any and all actions, approvals or submissions of its competence (e.g. bench submission,
formula/shade approval, Free Issue Parts delivery (if any) etc) as agreed or defined in the Technical Specifications and in the
Quality Dossier.

5.2           
In case of delays or other non-compliance by Client, Supplier shall − save Supplier's other rights and remedies available
at law or in equity − be entitled to a proportionate extension of the time schedule/Delivery Date to the extent that the
performance of Client’s actions/approvals were delayed.

6.              
Prices and terms of payment

6.1           
The Prices applicable to the Products (calculated on an ex-works basis) shall be in Ringgits (RM) (unless otherwise agreed
in writing by the Parties) and are set out in Exhibit 1 hereto (as may be amended from time to time by re-execution of said attachment
by both Client and Supplier). For new Products, the Prices shall be the prices quoted by Supplier for such new Products.

6.2           
Unless expressly mentioned otherwise, the Prices are inclusive of the Packaging Components to be supplied by Supplier.

6.3           
The Price of each Product shall be considered fixed during a min. 12 (twelve) month period commencing when the Product is
first offered for purchase to Client. After such period, Supplier shall have the right to review the Price annually and in the
event of increase of Supplier’s production costs. Prior to any such price increase going to effect, Supplier shall inform
Client with at least 30 (thirty) days notice.

6.4           
The Products’ Prices are to be considered exclusive of:

		(a)	Sales taxes, levies or other applicable charges, of any nature;

		(b)	a mark-up covering the cost for handling and stocking any Packaging Components and (if any) the
Free Issue Parts and other materials supplied by Client and;

		(c)	the cost of any tests which Client may reasonably require (e.g. pursuant to Clause 8.4) in addition
to the tests already performed by Supplier on a routinely basis as indicated in the Quality Dossier;

		(d)	any costs for the development of the Products (including but not limited to costs for tools, e.g.
clichés, pilot, mould) and for promotional material realised by Supplier pursuant to Client’s reasonable request.

6.5           
Payment of the Price shall be due as follows:

		(a)	50% of total order value upon Purchase Order’s placement, against invoice; and

		(b)	50% of total order value pro-quota before Delivery, against invoice.

6.6           
Should Client fail to pay the amount of any invoice on the Due Date:

		(a)	Supplier shall be entitled to suspend deliveries of the Products until the amount outstanding has
been fully credited to Supplier’s bank account.

In the event Supplier
is required to retain an attorney to enforce this Agreement or to effect collection on any unpaid invoice, Supplier shall be entitled
to recover all reasonable attorneys’ fees and costs incurred in any such legal action.

6.7           
Any costs not included in the Price and disbursed directly by Supplier in a given month, shall be paid by Client within
the end of the following month.

6.8           
In no event Client shall be entitled to set off from any payment to Supplier any claims which Client might have against
Supplier or any company directly or indirectly controlled by (or controlling) Supplier.

7.              
Quality Control

7.1           
With regards to any Free Issued Parts and any other raw material and/or packaging and/or labelling material eventually supplied
by Client, Client guarantees that they have been tested and fully conform to applicable legislation and are certified for use in.

7.2           
Supplier shall not be liable for any quality or conformity issue of the Free Issue Parts eventually supplied by Client,
which remain fully liable for them.

7.3           
In case Client wishes Supplier to perform any test and/or quality control on the Free Issue Parts, such tests / controls
performance shall be considered an additional service to be mutually agreed in advance between the Parties in written form and
executed upon payment of an extra price to Supplier.

7.4           
Supplier shall grant that the Products are manufactured in accordance with applicable GMP and/or provided the prior written
agreement between the Parties any specific requirement requested by Client.

7.5           
It is agreed by the Parties that any expediting visits by Client or Client’s representative to Supplier’s plants
or offices shall be previously agreed between the Parties upon written request and at Supplier’s convenient time.

8.              
Intellectual Property Rights

8.1           
Client acknowledges and agrees that all intellectual and industrial property rights or secrets, whether registered or not,
relating to or associated with the Products / bulk formulas (in their present and/or future configuration), which are owned or
will be developed by Supplier, will be/shall remain Supplier’s (or Affiliated Companies’) exclusive property and Client
hereby agrees that Supplier will have exclusive right to register and apply for any patents thereof.

8.2           
Client shall notify Supplier immediately of any claims made against Client by any third party. With Client’s assistance,
Supplier shall conduct all negotiations and settle any claim or demand or any litigation that may arise there from, provided that
no formulation and/or documentation and/or know-how furnished by Supplier shall have been used by Client for any purpose or in
any manner other than that for which they had been provided by Supplier pursuant to this Agreement.

8.3           
Should such use for other purposes have been made by Client, then all responsibility and liability resulting there from
shall lie entirely with Client.

8.4           
In no event Supplier shall be liable for any damage or consequence due to the infringement of intellectual property rights
related to Free Issue Parts or Packaging Components procured by Supplier under recommendation or request by Client. Client shall
keep Supplier fully indemnify with regards to any expense or damage Supplier should suffer in connection to such infringement.

9.              
Term and termination

9.1           
This Agreement shall become effective on the date of its signature by both Parties.

9.2           
The terms and conditions of this Agreement shall continue to be applicable to all forthcoming sale-purchase agreements between
Supplier and Client until:

		(a)	termination of this Agreement pursuant to this Section 9; or

		(b)	discharge of this Agreement by mutual consent of both the Parties; or

		(c)	replacement of this Agreement by a new frame agreement which is executed between Supplier and Client
with reference to the same subject.

9.3           
As used in this Agreement, an Event of Default means when a Party is in serious breach of any material obligations provided
for by this Agreement. Should either Party cause an Event of Default, then the non-defaulting Party may give written notice to
the defaulting Party which notice shall specify the Event of Default. After receipt of such notice, the defaulting Party shall
have a period of 15 (fifteen) days to remedy the Event of Default. In the lack of such timely remedy, then this Agreement
shall be deemed automatically terminated, without prejudice to any other rights or remedies to the non-defaulting Party available
at law or in equity.

9.4           
Any of the following will constitute an act of default hereunder, giving either Party the title to immediately terminate
this Agreement:

		(a)	Failure to remit payment when due;

		(b)	the other Party makes any voluntary arrangement with its creditors or becomes subject to any bankruptcy
procedure, goes into liquidation or ceases to carry on its business (except in the case of amalgamation or other reorganisation
within the company group); or

		(c)	in the event of Force Majeure as provided for in Clause 12.4.

9.5           
It is agreed that in case of early termination of this Agreement for any reason, Supplier will be entitled to:

-finalise all the
running productions,

-invoice for the
finished Products in stock and/or already delivered; and

		-	recover all the incurred cost for purchasing raw materials and/or Packaging Components by the time
of termination.

9.6           
Any waiver by either Party of a breach of any provision of this Agreement shall not be considered as a waiver of any subsequent
breach of the same or any other provision.

9.7           
The rights to terminate this Agreement given by this clause shall not prejudice any other right or remedy of either Party,
available at law or in equity, in respect of the breach concerned (if any) or any other breach.

10.           
Warranty; limitation of liability

10.1        
Supplier solely warrants that at the time of Delivery the Products: (i) until the shortest of the “expiry date”
and the “shelf life” as indicated by Supplier, perform in compliance to the Technical Specification; and (ii) comply
in all respects with any applicable laws, rules and regulations of the country(ies) of destination of the Products (provided such
country of destination is specified in writing in advance by Client).

10.2        
At any time within the Reject Period, i.e. 14 (fourteen) days following the date of Delivery of the Products, Client may
reject all or part of the Products in the event it verifies that such Product/s is/are not supplied in strict compliance with the
provisions under Clause 10.1. In such event, Client shall (i) immediately (however within the Reject Period) notify Supplier in
writing, specifying the nature of the non conformity; (ii) keep the Product - preserved with care and in a manner not to change
the status of the Products at the time of defect discovery - at the disposal of Supplier for inspection; (iii) if so requested
by Supplier, deliver the Product to Supplier to allow the inspection of the same. Products will be considered accepted by Client
if no written notice of claim will be received by Supplier by the Reject Period.

10.3        
If the foregoing inspection proves that the Product is defective for reasons solely due to Supplier, Supplier shall at its
own choice and at its own expense replace the defective Product with another non-defective Product or rework them. Client acknowledges
that save the case of personal injuries the replacement or reworking of the defective Product shall be its sole and exclusive remedy
for defective. In no event, Client shall be entitled to delay or retain any due payments for any sum exceeding the value of the
rejected Products.

10.4        
In all other cases (when the defect of Products is not due to reasons solely due to Supplier), reworking (or replacing)
of defective Products and/or materials shall be handled by Client according to the local authorities requirement, at its own expense.

10.5        
Exclusively in the cases under Clause 10.3, it is agreed that in addition to exclusive remedies for defects therein provided
under the same Clause, Supplier may, but is not obliged to, indemnify the Client towards sole direct costs Client should prove
by documentation to have suffered in connection to any eventual recall process from the market of the defective entire lots of
Products, provided such recall was prior agreed in writing between the Parties.

10.6        
In the event that a defect is not immediately apparent (i.e. in case of factory defects, undetectable at acceptance procedures),
Client shall notify in writing Supplier within 8 days after it becomes aware of the hidden defect. The claims concerning hidden
defects of the Products shall however be raised against Supplier within 1 (one) year from Delivery. Same rejection procedure of
all Clauses above shall apply.

10.7        
Supplier’s warranty (as per this Section 10) for defective Products and Supplier’s liability for damages caused
by the defective Products to goods or persons is expressly excluded (i) in case of improper use of the Products (i.e. not in compliance
with Supplier’s usage instructions attached to Products); and (ii) after the expiry of the shortest between the shelf life
or the expiry date of the Products as indicated by Supplier; (iii) for defects owing to wear and tear. Client undertakes to provide
the same limitations in the warranty given to Client’s customer.

10.8        
Client acknowledges that except as otherwise provided in this Section 10, Supplier makes no warranty of any kind with respect
to any Products and Supplier disclaims any and all implied warranties relating thereto, if any, including, but not limited to,
any implied warranties of merchantability, fit for a particular purpose or achievement of any particular performance criteria or
benefit neither if indicated on the packaging elements of the Product.

10.9        
With the exception of bodily injuries, Supplier shall not be liable for any loss of profits or any special, indirect, incidental
or consequential damages or reputation loss.

11.           
Confidential information

11.1        
If Supplier and Client exchange Confidential Information (as defined below) in performing their respective obligations under
this Agreement, such Confidential Information shall be used solely for purposes consistent with this Agreement.

11.2        
Confidential Information, if disclosed in written form, shall be clearly marked with the discloser's name and "confidential"
or any substantial equivalent thereof. If orally disclosed, Confidential Information shall be summarised in written form and clearly
marked with the discloser's name, "confidential" or the substantial equivalent thereof and delivered to the recipient
within thirty days from the date of disclosure.

11.3        
Such Confidential Information shall be maintained as confidential by the receiving Party. The receiving Party may disclose
Confidential Information on a need-to-know basis to such Party's employees who agree in writing to maintain the confidentiality
of the disclosing Party's Confidential Information with the same degree of care as applies to the receiving Party's own Confidential
Information.

11.4        
For the purpose of this Section, Confidential Information means any information acquired concerning the other
Party or its affairs, the Products or the Formulas, save that neither Party shall be obligated to maintain in confidence any information
received from the other Party if the information:

		(a)	was in the possession of or was known to such Party prior to its receipt from the other Party;
or

		(b)	is independently developed by such Party without the utilisation of such Confidential Information;
or

		(c)	is or becomes public knowledge without the fault of such Party.

11.5        
The terms and conditions of this Section shall survive the termination for any reason whatsoever of this Agreement for a
period of 5 (five) years.

12.           
Force majeure

12.1        
If either Party is affected by Force Majeure (as defined above), it shall promptly notify the other Party of the nature
and extent of the circumstances in question.

12.2        
Notwithstanding any other provision of this Agreement, neither Party shall be deemed to be in breach of this Agreement,
or otherwise be liable to the other, for any delay in performance or other non-performance of any of its obligations under this
Agreement to the extent that the delay or non-performance is due to any Force Majeure. The time for performing such obligation
shall be extended accordingly. The Party invoking Force Majeure shall give prompt notice of the cessation of the cause thereof.

12.3        
Nothing in this Section 12 shall relieve any Party of its obligation to make payments when due hereunder.

12.4        
If an event of Force Majeure shall occur and continue for 6 (six) months so as to frustrate the purpose contemplated by
this Agreement, or if there is no reasonable possibility that such event will be cured within a six-month period, then either Party
shall be entitled to terminate this Agreement pursuant to Clause 9.4 (c).

13.           
Amendments

13.1        
This Agreement shall be amended or modified, and any of the terms, covenants, representations, warranties or conditions
hereof may be waived, only by a written instrument executed by the Parties hereto or, in the case of a waiver, by the Party waiving
compliance.

14.           
Subcontract

14.1        
Client herewith expressly authorizes Supplier to carry out its obligations under this Agreement also through the production
facilities of Supplier’s subsidiaries. Client hereby expressly gives its consent to any sub-contracting by Supplier which
shall be entitled to carry out its obligations under this Agreement through sub-suppliers appointed by it in its absolute discretion.

15.           
Assignment

15.1        
With the exception of the successors of each Party (as in case of company merger), which automatically succeed such Party
in this Agreement, the rights and benefits of either Party under this Agreement shall not be assigned or otherwise disposed of
without the prior written consent of the other Party.

15.2        
The activities carried out at the production facilities of Supplier’s subsidiaries are not to be considered as an
assignment of this Agreement, provided that Supplier will remain liable for such activities.

16.           
Severability

16.1        
If any provision of this Agreement is held by any court or other competent authority to be void or unenforceable in whole
or part the other provisions of this Agreement and the remainder of the effective provisions shall continue to be valid.

17.           
Notices

17.1        
Any notice to be given by one Party to the other Party under, or in connection with, this Agreement shall be in writing
and signed by or on behalf of the Party giving it.

17.2        
All notices under or in connection with this Agreement shall be in the English language or, if in any other language, accompanied
by a translation into English. In the event of any conflict between the English text and the text in any other language, the English
text shall prevail.

18.           
Entire agreement

18.1        
This Agreement sets out the entire agreement and understanding between the Parties with respect to the subject matter hereof.
This Agreement supersedes all previous agreements, arrangements and understandings between the Parties with respect to the subject
of this Agreement, which shall cease to have any further effect.

19.           
Governing law and jurisdiction

19.1        
This Agreement shall be governed by and construed in accordance with the law of Malaysia.

19.2        
Any dispute arising from, or in connection with, the interpretation, execution and validity of this Agreement shall be exclusively
and finally settled under the Rules of the Chamber of Arbitration of Malaysia by one or three arbitrators appointed in accordance
with the said Rules.

19.3        
Arbitration shall take place in Kuala Lumpur, Malaysia and proceedings shall be held in the English language.

19.4        
The exclusive jurisdiction of arbitration in this Clause specifically extends to disputes regarding claims based in tort,
disputes regarding the validity of the Agreement, costs of arbitration proceedings (without limitation thereto).

19.5        
The arbitration award shall be final and binding upon the Parties to the arbitration and may be enforced in any court having
jurisdiction over the Party against which enforcement is sought.

20.           
List of Exhibits

The following Exhibits form an integral
part to this Agreement.

		·                 Exhibit 1	Products, Prices, MOQs

 

As
witness this Agreement has been executed by or on behalf of the
Parties the day and year first before written.

 

 

	
        Client

        _______________________

        Authorized representative
	
        Supplier

        __________________________

        Authorized representative

 

    	 

    	 

    

EXHIBIT 1

(To be construed as essential part of the Agreement)

 

PRODUCT LIST:

	Product:	Dswiss Kiwi Cell Detox
	Pack Size :	15 sachets x 15gm
	Unit Price (RM) per box :	[*]
	Minimum Order Qty :	[*]
	Currency :	RINGGIT MALAYSIA (RM)
	Payment Method : 	[*]
	Supplier’s Bank Details :	[*]
	Bank Account No : 	[*]

 

	Product:	Dswiss Triple Stem Cell
	Pack Size :	15 sachets x 10gm
	Unit Price (RM) per box :	[*]
	Minimum Order Qty :	[*]
	Currency :	RINGGIT MALAYSIA (RM)
	Payment Method : 	[*]
	Supplier’s Bank Details :	[*]
	Bank Account No : 	[*]

 

	Product:	Dswiss Coffee Plus
	Pack Size :	15 sachets x 20gm
	Unit Price (RM) per box :	[*]
	Minimum Order Qty :	[*]
	Currency :	RINGGIT MALAYSIA (RM)
	Payment Method : 	[*]
	Supplier’s Bank Details :	[*]
	Bank Account No : 	[*]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]