Document:

Exhibit 10.16

 

 

FIRST AMENDMENT TO CONFIDENTIAL
CONSULTING AGREEMENT

 

This first amendment (the “First
Amendment”) to the Confidential Consulting Agreement dated July 15, 2021 (the “Agreement”) by and between the parties
hereto, is executed as of the date shown on the signature page (the “Effective Date”), by and between FLG Partners, LLC, a
California limited liability company (“FLG”), and Nxt-ID Inc., a Delaware corporation. (“Client” or “Company”).
Capitalized terms used herein without definition shall have the meanings ascribed to them in the Agreement

 

RECITALS

 

WHEREAS, the parties hereto wish to amend the Agreement;

 

WHEREAS, Client wishes to retain FLG to provide and
FLG wishes to provide such services to Client on the terms set forth herein; and

 

WHEREAS, FLG has been continuously retained by Client
since July 15, 2021; and

 

WHEREAS, the parties hereto wish to amend the terms
of the Agreement;

 

NOW, THEREFORE, in consideration of the mutual covenants
set forth herein, the parties hereto agree as follows:

 

		1.	Description of Services. Exhibit A, paragraph 1, is appended
to include “FLG Member will not be described in public filings, Client press releases, or Client’s website as ‘interim’,
‘temporary’, or in similar language.”

 

		2.	Term. The term of the Agreement is hereby made annual
with one year renewals if mutually agreed upon and terminable by either party upon 60 days’ written notice to the other.

 

		3.	Fee. $10,000 per week without regard to actual hours
worked, invoiced biweekly; provided, however, that it is anticipated that the FLG Member shall ordinarily provide services to Client
of no less than 20 hours per week. In addition, FLG Member may separately invoice Client for a $2,000 monthly administrative charge,
payable to FLG Member directly.

 

		4.	Other Compensation. 136,194 shares of Restricted Stock
in Client (the “RS Award”). Twenty-five per cent (25%) of the RS Award shall vest on July 15, 2022, with subsequent vesting
at the rate of 6.25% of the RS Award for each three- month period thereafter. (Fractional shares at vesting shall be rounded to the nearest
whole share.) Upon termination of the Agreement, any unvested RS Award for the quarter in which termination occurs shall vest. Subject
to compliance with applicable federal and state securities laws and regulations, 129,384 of the RS Award (95%) shall be issued in the
name of FLG Member and 6,810 (5%) in the name of FLG. Prior to the termination of this Agreement and in the case of a Change in Control
of Client, as defined below, the unvested portion of the RS Award will fully vest; provided, however, that FLG’s equity shall not
be issued from the 2017 Stock Incentive Plan, but from the Company’s authorized and unissued or treasury shares.

 

		5.	Change of Control. As used in this Agreement, a “Change
in Control” shall mean any of the following events: (1) the acquisition by any individual, entity or group (within the meaning
of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”)) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 35% or more of the then-outstanding Shares of Common Stock plus any other outstanding shares of
stock of the Company entitled to vote in the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that the Company and any employee benefit plan (or related trust) sponsored by it shall not be deemed to be a Person; or (2)
a change in the composition of the Board such that the individuals who constitute the Board (the “Incumbent Board”) cease
for any reason to constitute at least a majority of the Board within any 365 day period (and for this purpose, any individual whose election
or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds of the directors then comprising
the Incumbent Board shall be considered a member of the Incumbent Board); or (3) the consummation of a reorganization, merger, statutory
share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries or a sale or other
disposition of substantially all of the assets of the Company or a material acquisition of assets or stock of another entity by the Company
or any of its subsidiaries, (each, a “Business Combination”) if: (i) the individuals and entities that were the beneficial
owners of the Outstanding Company Voting Securities immediately prior to such Business Combination do not beneficially own, directly
or indirectly, more than 50% of the then-outstanding shares of stock and the combined voting power of the then-outstanding voting securities
of the company resulting from such Business Combination; or (ii) a Person beneficially owns, directly or indirectly, 35% or more of the
then-outstanding shares of stock of the company resulting from such Business Combination; or (iii) members of the Incumbent Board do
not comprise at least a majority of the members of the board of directors of the company resulting from such Business Combination; or
(4) the approval by the shareholders (or in the case of (4)(i) the Bord) of the Company of: (i) a complete liquidation or dissolution
of the Company; (ii) any merger/consolidation/recap in which Company not survivor; or (iii) upon the Company’s insolvency, general
assignment for the benefit of creditors or the commencement by or against the Company of any action seeking reorganization, arrangement,
adjustment, liquidation, dissolution or composition of the Company’s debts under any law relating to bankruptcy, insolvency or
reorganization, or relief of debtors, or seeking appointment of a receiver other similar official for the Company or for all or any substantial
part of the Company’s assets.

 

     

     

    

 

 

FIRST AMENDMENT TO
CONFIDENTIAL CONSULTING AGREEMENT

 

		6.	Miscellaneous. All other terms and conditions of the Agreement remain unchanged. This First
                                                                               Amendment shall be incorporated in the Agreement as Exhibit B.

 

REMAINDER OF THIS PAGE LEFT BLANK

 

IN WITNESS WHEREOF, the parties hereto have executed
this Amendment as of the Effective Date.

 

	CLIENT:	 	FLG:
	 	 	 	 	 
	Nxt-ID Inc.,	 	FLG Partners, LLC,
	 	 	 	 	 
	a Delaware corporation.	 	a California limited liability company.
	 	 	 	 	 
	By:	Chia-Lin Simmons	 	By:	Jeffrey S. Kuhn
	 	 	 	 	 
	Signed:	/s/ Chia-Lin Simmons	 	Signed:	/s/ Jeffrey
    S. Kuhn
	Title:	CEO	 	Title:	Administrative Partner
	Address:	2801 Diode Lane,

        Louisville,
        KY 40299
	 	Effective Date:	February 15, 2022
			 	 	 
	Tel:	973-951-8911	 	 	 
	Email:	Chia-Lin@nxt-id.com	 	 	 

 

 

 

 

 

 

Initial: Client ______FLG _______Exhibit
4.1

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE

SECURITIES
EXCHANGE ACT OF 1934

 

Newpoint
Financial Corp. (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of
1934, as amended, which is the Company’s common stock, $0.001 par value per share.

 

Description
of Common Stock

 

The
authorized capital stock of the Company consists of 100,000,000 shares of common stock, par value $0.001 per share, and 50,000,000 shares
of preferred stock, par value $0.001 per share.

 

Holders
of the Company’s common stock are entitled to one vote for each share on all matters submitted to a stockholder vote. Holders of
common stock do not have cumulative voting rights. Therefore (subject to the rights of the holders of any outstanding preferred stock),
holders of a majority of the shares of common stock voting for the election of directors can elect all of the directors to our Board
of Directors. Holders of the Company’s common stock representing a majority of the voting power of the Company’s capital
stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute a quorum at any meeting
of stockholders. A vote by the holders of a majority of the Company’s outstanding shares is required to effectuate certain fundamental
corporate changes such as a merger or an amendment to the Company’s certificate of incorporation.

 

Holders
of the Company’s common stock are entitled to share in all dividends that the Board of Directors, in its discretion, declares from
legally available funds. In the event of a liquidation, dissolution or winding up, each outstanding share entitles its holder to participate
pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if any, having preference
over the common stock. The Company’s common stock has no pre-emptive rights, no conversion rights, and there are no redemption
provisions applicable to the Company’s common stock.Exhibit
10.8

 

CLARIFICATION
AGREEMENT

 

This
Clarification Agreement (this “Agreement”), dated April 8, 2022, is to the Common Stock Purchase Warrant Agreement, (the
“Warrant Agreement”), and Stock Purchase Agreement (the “Stock Agreement”) dated as of December 10, 2021 by and
between Novea Inc., a Wyoming Corporation (“Company”), and Newpoint Financial Corp, a Delaware Corporation (“Purchaser”).

 

WHEREAS,
as a result of certain questions that have arisen regarding the accounting treatment applicable to the warrants, the parties hereto deem
it necessary and desirable to amend the Warrant Agreement to clarify that the registered holders have the right to exercise the option
only upon public listing and sale of the Company’s shares; and

 

WHEREAS,
as a result of certain questions that have arisen regarding the Purchaser’s ability to influence the Company via appointment to
the Company’s Board of Directors, the parties hereto deem it necessary and desirable to amend the Stock Agreement, which provides
that Purchaser has the right to appoint one person as a member of the Board of Directors; and

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree to amend the Warrant
Agreement and Stock Agreement, respectively, as set forth herein.

 

1.
Warrant Agreement. The Warrant Agreement is hereby clarified by adding the following subsection (f) under Section 2:

 

“The
ability to exercise the purchase rights under this section shall occur only after shares of the Company are listed on a public stock
exchange.”

 

2.
Stock Agreement. The Articles of Amendment, section 2(e) is hereby clarified by the following modification:

 

The
Purchaser shall have the right to appoint one (1) person as a Board Observer to the Board of Directors (“Board”). This nominee
shall have all the same rights and privileges of other Board of Directors in connection with Board notice provisions, attendance to all
Board meetings, access to all Board information including but not limited to review of the Company’s books and records, with the
exception that the member may not vote on motions presented. All other terms and provisions in Section 2(e) shall remain.

 

3.
Definition of “Stated Value”. Wherever the value of Preferred Shares is referenced, it shall be defined as having a stated
value of $100 per share.

 

4.
Other Provisions.

 

(a)
Governing Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects
by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the
substantive laws of another jurisdiction.

 

(b)
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal
representatives, successors and assigns.

 

(c)
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof
and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them. Except as set forth
in this Agreement, provisions of the Warrant Agreement and Stock Agreement which are not inconsistent with this Agreement shall remain
in full force and effect. This Agreement may be executed in counterparts.

 

(d)
Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such
invalid or unenforceable term or provision, the parties hereto intend that there shall be added as part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Clarification Agreement as of the date first written above.

 

	 	NOVEA,
    Inc.
	 	 	 
	 	By:	
	 	 	 
	 	NEWPOINT
    FINANCIAL CORP.
	 	 	 
	 	By:

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