Document:

EX-4.3

 Exhibit 4.3 

Officers’ Certificate 

Pursuant to Sections 102, 201, 301 and 303 of the Indenture 

Dated: October 7, 2021 

The undersigned, Merryl E. Werber, Senior Vice President, Chief Accounting Officer and Controller, and Michelle Ngo, Senior
Vice President, Chief Financial Officer and Treasurer, of Kilroy Realty Corporation, a Maryland corporation (“KRC”), the guarantor (the “Guarantor”) of the Securities referred to below and the sole general partner
(the “General Partner”) of Kilroy Realty, L.P., a Delaware limited partnership (the “Company”), hereby certify as follows: 

The undersigned, having read the appropriate provisions of the Indenture, dated as of March 1, 2011 (the “Base
Indenture”), among the Company, the Guarantor and U.S. Bank National Association, as trustee (the “Trustee”), as amended and supplemented by the Supplemental Indenture, dated as of July 5, 2011 (the
“Supplemental Indenture”), among the Company, the Guarantor and the Trustee (the Base Indenture, as so amended and supplemented, is called the “Indenture”), including Sections 102, 201, 301 and 303 thereof and the
definitions in such Indenture relating thereto, an executed copy of the Company Order (as defined in the Indenture) of even date herewith delivered pursuant to Sections 203 and 303 of the Indenture in connection with the issuance of the Securities
referred to below, and certain other corporate and partnership documents and records, and having made such examination and investigation as, in the opinion of the undersigned, each considers necessary to enable the undersigned to express an informed
opinion as to whether (a) the conditions set forth in the Indenture relating to the establishment of the title and terms of the Company’s 2.650% Senior Notes due 2033 (the “Securities”), the form of certificate evidencing
the Securities and the form and terms of the guarantees (the “Guarantees”) of the Guarantor to be endorsed on the certificates evidencing the Securities, have been satisfied, and (b) the conditions in the Indenture relating to
the issuance, authentication and delivery of the Securities have been satisfied, each hereby certify that: 
  

	 	(i)	 the title and terms of the Securities and the terms of the Guarantees to be endorsed on the certificates
evidencing the Securities were established by the undersigned pursuant to authority delegated to them by resolutions duly adopted by the Board of Directors of KRC, on its own behalf and, in its capacity as General Partner, on behalf of the Company,
on December 10, 2020, and the unanimous written consent of the Pricing Committee of the Board of Directors of KRC, on its own behalf and, in its capacity as General Partner, on behalf of the Company, dated as of September 23, 2021
(collectively, the “Resolutions”) and such terms are set forth in Annex I and Annex II hereto; 

  

	 	(ii)	 the form of certificate evidencing the Securities and the form of Guarantee to be endorsed on the
certificates evidencing the Securities were established by the undersigned pursuant to authority delegated to them by the Resolutions and shall be in substantially the forms attached as Annex II hereto (it being understood that, in the event
that Securities are ever issued in definitive certificated form, the legends appearing on the first page of such form of Securities may be removed); 

  

	 	(iii)	 a true, complete and correct copy of the Resolutions, which were duly adopted by the Board of Directors of
KRC and the Pricing Committee of such Board of Directors (as applicable), in each case on behalf of KRC and, in KRC’s capacity as General Partner, on behalf of the Company and are in full force and effect in the form adopted on the date hereof,
are attached as Annex III hereto and are also attached as an exhibit to the Certificate of the Secretary of the Company of even date herewith; 

	 	(iv)	 the form, title and terms of the Securities and form and terms of Guarantees endorsed on the certificates
evidencing the Securities have been established pursuant to and in accordance with Sections 201 and 301 of the Indenture and comply with the Indenture and, in the opinion of the undersigned, all conditions provided for in the Indenture (including,
without limitation, those set forth in Sections 102, 201, 301 and 303 of the Indenture) relating to the establishment of the title and terms of the Securities and the terms of such Guarantees, the form of certificate evidencing the Securities and
the form of such Guarantees and the issuance, execution, authentication and delivery of the Securities and such Guarantees have been complied with and satisfied; and 

 

	 	(v)	 to the best knowledge of the undersigned, no Event of Default (as defined in the Indenture) has occurred and
is continuing with respect to the Securities. 

 This certificate shall constitute an Officers’
Certificate (as defined in the Indenture) of the Company and the Guarantor and is being executed by the undersigned in their capacity as officers of the Guarantor and officers of the General Partner of the Company. 

(SIGNATURE PAGE FOLLOWS) 

 IN WITNESS WHEREOF, we have hereunto set our hands as of the date first written above. 

 

	
	KILROY REALTY CORPORATION
	
	 /s/ Merryl E. Werber

	Merryl E. Werber
	Senior Vice President, Chief Accounting Officer and Controller
	
	 /s/ Michelle Ngo

	Michelle Ngo
	Senior Vice President, Chief Financial Officer and Treasurer
	
	KILROY REALTY, L.P.
	
	By: Kilroy Realty Corporation, as general partner
	
	 /s/ Merryl E. Werber

	Merryl E. Werber
	Senior Vice President, Chief Accounting Officer and Controller
	
	 /s/ Michelle Ngo

	Michelle Ngo
	Senior Vice President, Chief Financial Officer and Treasurer

  
 (Officers’
Certificate Pursuant to Sections 102, 201, 301 and 303 of the Indenture) 

 ANNEX I 

Capitalized terms used in this Annex I and not otherwise defined herein have the same definitions as in the Indenture
referred to in the Officers’ Certificate of which this Annex I constitutes a part. 
  

	(1)	 The Securities of the series established hereby shall be known and designated as the “2.650% Senior
Notes due 2033.” 

  

	(2)	 The aggregate principal amount of the Securities of such series which may be authenticated and delivered
under the Indenture is limited to $450,000,000, except for Securities of such series authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the same series pursuant to Sections 304, 305,
306 or 1107 of the Indenture. However, such series may be re-opened by the Company, without the consent of or notice to the Holders of the Securities of such series, for the issuance of additional Securities
of such series, from time to time; provided that such additional Securities have the same terms and provisions as the Securities of such series issued on the date (the “Original Issue Date”) of the Officers’ Certificate of
which this Annex I constitutes a part (except for any difference in issue date, issue price, date from which Interest will begin to accrue, Interest accrued prior to the issue date and first Interest Payment Date (as defined below)), and carry the
same right to receive accrued and unpaid Interest, as the Securities of such series theretofore issued; provided, however, that, notwithstanding the foregoing, such series may not be reopened if the Company has effected legal defeasance or covenant
defeasance with respect to the Securities of such series pursuant to Section 402 of the Indenture or has effected satisfaction and discharge with respect to the Securities of such series pursuant to Section 401 of the Indenture. All of the
Securities of such series, including any additional Securities which may be issued upon a re-opening of such series, shall constitute a single series of Securities under the Indenture. 

 

	(3)	 The Securities of such series are to be issuable only as Registered Securities without coupons and may, but
need not, bear a corporate seal. The Securities of such series shall initially be issued in book-entry form and represented by one or more permanent Global Securities of such series, the initial depositary (together with any successors in such
capacity, the “Depositary”) for the Global Securities of such series shall be The Depository Trust Company and the depositary arrangements shall be those employed by whoever shall be the Depositary with respect to the Global
Securities of such series from time to time. Notwithstanding the foregoing, certificated Securities of such series in definitive form may be issued in exchange for Global Securities of such series under the circumstances contemplated by
Section 305 of the Indenture. Except as provided in Section 305 of the Indenture, beneficial owners of interests in a Global Security shall not be entitled to have certificates registered in their names, will not receive or be entitled to
receive physical delivery of certificates in definitive form and will not be considered Holders of such Global Security. 

  

	(4)	 The Securities of such series shall be sold by the Company to the several underwriters named in the
Underwriting Agreement, dated September 23, 2021, for whom Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are acting as representatives, at a price equal to 99.282% of the principal amount thereof and the initial price to public of
the Securities of such series shall be 99.957% of the principal amount thereof plus accrued Interest from October 7, 2021 if settlement occurs after that date, and underwriting discounts and commissions shall be 0.675% of the principal amount
of such Securities. 

  

	(5)	 The final maturity date of the Securities of such series on which the principal thereof is due and payable
shall be November 15, 2033. 

  
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	(6)	 The principal of the Securities of such series shall bear Interest at the rate of 2.650% per annum from
October 7, 2021 or from the most recent date to which Interest has been paid or duly provided for, payable semiannually in arrears on May 15 and November 15 (each, an “Interest Payment Date”) of each year, commencing
May 15, 2022, to the Persons in whose names such Securities (or one or more Predecessor Securities) are registered at the close of business on the May 1 and November 1, respectively, immediately prior to such Interest Payment Dates
(each, a “Regular Record Date”) regardless of whether such Regular Record Date is a Business Day. Interest on the Securities of such series will be computed on the basis of a 360-day year of
twelve 30-day months. If any principal of, or premium, if any, or Interest on, any of the Securities of such series is not paid when due, then such overdue principal and, to the extent permitted by law, such
overdue premium or Interest, as the case may be, shall bear interest until paid or until such payment is duly provided for at the rate of 2.650% per annum. 

  

	(7)	 Each of the Borough of Manhattan, The City of New York and The City of Los Angeles, California is hereby
designated as a Place of Payment for the Securities of such series. The place where the principal of and premium, if any, and Interest (including the Redemption Price upon redemption pursuant to Article Eleven of the Indenture) on the Securities of
such series shall be payable, where Securities of such series may be surrendered for the registration of transfer or exchange, and where notices or demands to or upon the Company or the Guarantor in respect of the Securities of such series and the
Indenture may be served shall be the office or agency maintained by the Company for such purpose in the Borough of Manhattan, The City of New York and in The City of Los Angeles, California, which (i) with respect to the Borough of Manhattan,
The City of New York, shall initially be an office of the Trustee in the Borough of Manhattan, The City of New York, which on the date hereof is located at U.S. Bank National Association, 100 Wall Street, 6th Floor, New York, New York 10005; and (ii) with respect to The City of Los Angeles, California, shall initially be an office of the Trustee in The City of Los Angeles, California, which on the
date hereof is located at U.S. Bank National Association, 633 West Fifth Street, 24th Floor, Los Angeles, California 90071. 

  

	(8)	 The following redemption provisions and definitions are hereby added to the Indenture for the benefit of the
Securities of such series and the Holders of the Securities of such series and are hereby incorporated by reference in and made part of the Indenture for the benefit of the Securities of such series and the Holders of the Securities of such series
as if set forth in full therein: 

 The Securities of such series are redeemable at the
option of the Company, at any time or from time to time prior to August 15, 2033 (the “Par Call Date”), either in whole or in part, at a Redemption Price equal to the greater of (i) 100% of the principal amount of the
Securities of such series to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal of and Interest (exclusive of Interest accrued to the applicable Redemption Date) on the Securities of such series
to be redeemed assuming that such Securities matured, and that Interest on such Securities was payable, on the Par Call Date discounted to such Redemption Date on a semiannual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus in each case accrued and unpaid Interest on the principal amount of the Securities of such series being redeemed to such
Redemption Date. 
 On and after the Par Call Date, the Securities of such series are redeemable at the
option of the Company, at any time or from time to time, either in whole or in part, at a Redemption Price equal to 100% of the principal amount of the Securities of such series to be redeemed, plus accrued and unpaid Interest on the principal
amount of the Securities of such series being redeemed to the applicable Redemption Date. 

  
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 Notwithstanding the foregoing, installments of Interest that
are due and payable on any Interest Payment Date falling on or prior to a Redemption Date with respect to the Securities of such series will be payable to the Persons who were the Holders of the Securities of such series (or one or more Predecessor
Securities), registered as such at the close of business on the relevant Regular Record Dates according to their terms and the provisions of the Indenture. Written notice of redemption must be given to Holders of the Securities of such series (or
portions thereof) to be redeemed not less than 15 nor more than 60 days prior to the applicable Redemption Date. 

If less than all of the Securities of such series are to be redeemed, the particular Securities of such series
to be redeemed shall be selected in the manner provided in Section 1103 of the Indenture in minimum principal amounts of $2,000 and integral multiples of $1,000 in principal amount in excess thereof; provided that, in the case of any Security
of such series redeemed in part, the unredeemed portion thereof shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 

Notwithstanding the foregoing, the Company shall not redeem the Securities of such series on any date if the
principal amount of the Securities of such series has been accelerated, and such acceleration has not been rescinded or cured on or prior to the applicable Redemption Date as provided in the Indenture. 

The redemption of the Securities of such series shall otherwise be made as provided in the Indenture, including
Article Eleven thereof. 
 Certain Definitions 

“Statistical Release” means the statistical release designated “H.15” or any successor publication
which is published weekly by the Federal Reserve System and which establishes yields on actively traded United States government securities adjusted to constant maturities or, if such statistical release is not published at the time of any
determination of the Treasury Rate, then such other reasonably comparable index as the Company shall designate. 

“Treasury Rate” means, with respect to any Redemption Date, the arithmetic mean of the yields for the five
most recent days published in the Statistical Release under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term (the “Remaining Life”) of the
Securities of such series to be redeemed (assuming for this purpose that such Securities matured on the Par Call Date). If no maturity exactly corresponds to such Remaining Life, yields for the two published maturities most closely corresponding to
such Remaining Life shall be calculated pursuant to the immediately preceding sentence, and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest
month. The Treasury Rate shall be determined by the Company on the third business day preceding the date on which the Company mails or otherwise transmits notice of redemption to the Holders of the applicable Securities of such series. For purposes
of determining the Treasury Rate, the most recent Statistical Release published prior to the applicable date of determination of the Treasury Rate shall be used. As used in the second preceding sentence, the term “business day”
means any day (other than a Saturday or Sunday) that is not a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close. 

 

	(9)	 The Securities of such series shall not be repayable or redeemable at the option of the Holders prior to the
final maturity date of the principal thereof (except as provided in Article Five of the Indenture) and shall not be subject to a sinking fund or analogous provision. 

  
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	(10)	 The Securities of such series shall be issued in denominations of $2,000 and integral multiples of $1,000 in
excess thereof. 

  

	(11)	 The Trustee shall be the initial trustee, Security Registrar, transfer agent and Paying Agent for the
Securities of such series. 

  

	(12)	 The entire outstanding principal amount of the Securities of such series shall be payable upon acceleration
of the maturity of the Securities of such series pursuant to Section 501 of the Indenture. 

  

	(13)	 Payment of the principal of, and premium, if any, and Interest on (including the Redemption Price payable
upon redemption pursuant to Article Eleven of the Indenture) the Securities of such series shall be made in Dollars and the Securities of such series shall be denominated in Dollars. 

 

	(14)	 Other than amounts payable upon redemption of the Securities of such series at the option of the Company
prior to the Par Call Date in accordance with Section (8) above, the amount of payments of principal of and premium, if any, and Interest on the Securities of such series shall not be determined with reference to an index, formula or other
similar method. 

  

	(15)	 Neither the Company nor the Holders of the Securities of such series shall have any right to elect the
currency in which payments of the principal of and premium, if any, and Interest on (including the Redemption Price payable upon redemption pursuant to Article Eleven of the Indenture) the Securities of the series are made. 

 

	(16)	 In addition to the covenants set forth in the Indenture, the following covenants set forth below under the
caption “Additional Covenants” in this Section (16) (the “Additional Covenants”) shall be and hereby are added to the Indenture for the benefit of the Securities of such series and the Holders of the Securities of
such series, and the Additional Covenants, together with the defined terms (the “Additional Definitions”) set forth in Section (25) below under the caption “Additional Definitions”, are hereby incorporated by
reference in and made part of the Indenture for the benefit of the Securities of such series and the Holders of the Securities of such series as if set forth in full therein; provided that the Additional Covenants and the Additional Definitions set
forth below shall only be applicable with respect to the Securities of such series and the Additional Definitions and the Additional Covenants set forth below shall only be effective for so long as any of the Securities of such series is
Outstanding: 

 Additional Covenants 

 

	 	(a)	 Aggregate Debt Test. 

 

	 	(i)	 The Company will not, and will not permit any of its Subsidiaries to, incur any Debt (including without
limitation Acquired Debt) if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount of all outstanding Debt of the Company and its
Subsidiaries (determined on a consolidated basis in accordance with United States generally accepted accounting principles) is greater than 60% of the sum of the following (without duplication): 

 

	 	(A)	 the Total Assets of the Company and its Subsidiaries as of the last day of the then most recently ended
fiscal quarter; and 

  

	 	(B)	 the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the aggregate
amount of any securities offering 

  
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proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Company or any of its Subsidiaries since the end
of such fiscal quarter, including the proceeds obtained from the incurrence of such additional Debt. 

  

	 	(ii)	 For purposes of this covenant, Debt will be deemed to be incurred by the Company or any of its Subsidiaries
whenever the Company or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. 

  

	 	(b)	 Debt Service Test. 

 

	 	(i)	 The Company will not, and will not permit any of its Subsidiaries to, incur any Debt (including without
limitation Acquired Debt) if the ratio of Consolidated Income Available for Debt Service to Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters most recently ended prior to the date on which such additional
Debt is to be incurred shall have been less than 1.5:1 on a pro forma basis after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt (determined on a consolidated basis in accordance with United States
generally accepted accounting principles), and calculated on the following assumptions: 

  

	 	(A)	 such Debt and any other Debt (including without limitation Acquired Debt) incurred by the Company or any of
its Subsidiaries since the first day of such four-quarter period had been incurred, and the application of the proceeds from such Debt (including to repay or retire other Debt) had occurred, on the first day of such period; 

 

	 	(B)	 the repayment or retirement of any other Debt of the Company or any of its Subsidiaries since the first day
of such four-quarter period had occurred on the first day of such period (except that, in making this computation, the amount of Debt under any revolving credit facility, line of credit or similar facility will be computed based upon the average
daily balance of such Debt during such period); and 

  

	 	(C)	 in the case of any acquisition or disposition by the Company or any of its Subsidiaries of any asset or
group of assets with a fair market value in excess of $1.0 million since the first day of such four-quarter period, whether by merger, stock purchase or sale or asset purchase or sale or otherwise, such acquisition or disposition had occurred
as of the first day of such period with the appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation. 

 

	 	(ii)	 If the Debt giving rise to the need to make the calculation described in this covenant or any other Debt
incurred after the first day of the relevant four- quarter period bears interest at a floating rate, then, for purposes of calculating the Annual Debt Service Charge, the interest rate on such Debt will be computed on a pro forma basis by applying
the average daily rate which would have been in effect during the entire four-quarter period to the greater of the amount of such Debt outstanding at the end of such period or the average amount of such Debt outstanding during such period. For
purposes of this covenant, Debt will be deemed to be incurred by the 

  
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Company or any of its Subsidiaries whenever the Company or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. 

 

	 	(c)	 Secured Debt Test. 

 

	 	(i)	 The Company will not, and will not permit any of its Subsidiaries to, incur any Debt (including without
limitation Acquired Debt) secured by any Lien on any property or assets of the Company or any of its Subsidiaries, whether owned on the Original Issue Date or subsequently acquired, if, immediately after giving effect to the incurrence of such Debt
and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount (determined on a consolidated basis in accordance with United States generally accepted accounting principles) of all outstanding Debt of the
Company and its Subsidiaries which is secured by a Lien on any property or assets of the Company or any of its Subsidiaries is greater than 40% of the sum of (without duplication): 

 

	 	(A)	 the Total Assets of the Company and its Subsidiaries as of the last day of the then most recently ended
fiscal quarter; and 

  

	 	(B)	 the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the aggregate
amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Company or any of its Subsidiaries since the end of such fiscal
quarter, including the proceeds obtained from the incurrence of such additional Debt. 

  

	 	(ii)	 For purposes of this covenant, Debt will be deemed to be incurred by the Company or any of its Subsidiaries
whenever the Company or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. 

  

	 	(d)	 Maintenance of Total Unencumbered Assets. The Company will not have at any time Total Unencumbered Assets of
less than 150% of the aggregate principal amount of all outstanding Unsecured Debt of the Company and its Subsidiaries determined on a consolidated basis in accordance with United States generally accepted accounting principles.

  

	(17)	 Section 402 of the Indenture shall apply to the Securities of such series, provided that (i) the
Company may effect legal defeasance (as defined in the Indenture) and covenant defeasance (as defined in the Indenture) pursuant to Section 402 only with respect to all (and not less than all) of the Outstanding Securities of such series and
(ii) in addition to the covenants specifically referred to by section number in Section 402(3) of the Indenture, the Additional Covenants shall also be subject to covenant defeasance pursuant to Section 402(3) of the Indenture;
provided that, anything herein to the contrary notwithstanding, the only portions of Section 1004 of the Indenture that shall be subject to covenant defeasance are the portions expressly identified in Section 402(3) of the Indenture as
being subject to covenant defeasance. 

  

	(18)	 The Company shall not be required to pay Additional Amounts with respect to the Securities of such series as
contemplated by Section 1009 of the Indenture. 

  

	(19)	 The Securities of such series shall not be convertible or exchangeable into the General Partner’s
Common Stock or Preferred Stock. 

  
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	(20)	 The obligations of the Company under the Securities of such series and the Indenture shall be guaranteed by
the Guarantor as provided in Article Sixteen of the Indenture and Guarantees endorsed on the certificates evidencing such Securities. 

  

	(21)	 The Securities of such series will be senior unsecured obligations of the Company and the Guarantees of the
Securities of such series set forth in Article Sixteen of the Indenture and endorsed on the certificates evidencing such Securities will be senior unsecured obligations of the Guarantor. 

 

	(22)	 The provisions of Section 1010 of the Indenture shall be applicable with respect to any term, provision
or condition set forth in the Additional Covenants, in addition to any term, provision or condition set forth in Sections 1004 through 1007, inclusive, of the Indenture. 

 

	(23)	 The Securities of such series and the Guarantees endorsed on certificates evidencing the Securities of such
series shall have such other terms and provisions as are set forth in the form of certificate evidencing the Securities of such series and form of related Guarantee endorsed thereon attached as Annex II to the Officers’ Certificate of
which this Annex I is a part, all of which terms and provisions are incorporated by reference in and made a part of this Annex I and the Indenture for the benefit of the Securities of such series and the Holders of the Securities of
such series as if set forth in full herein and therein. 

  

	(24)	 As used in the Indenture with respect to the Securities of such series, in the certificates evidencing the
Securities of such series and the Guarantees endorsed on the certificates evidencing the Securities of such series, all references to “premium” on the Securities of such series shall mean any amounts (other than accrued Interest)
payable upon the redemption of any Securities of such series in excess of 100% of the principal amount of such Securities. 

  

	(25)	 In addition to the definitions set forth in Article One of the Indenture, the terms of the Securities of
such series shall include the additional definitions set forth below under the caption “Additional Definitions” and, in the event of a conflict between such additional definitions and the Indenture, such additional definitions will
apply: 

 Additional Definitions 

“Acquired Debt” means Debt of a Person: 

 

	 	(a)	 existing at the time such Person is merged or consolidated with or into the Company or any of its
Subsidiaries or becomes a Subsidiary of the Company; or 

  

	 	(b)	 assumed by the Company or any of its Subsidiaries in connection with the acquisition of assets from such
Person. 

 Acquired Debt shall be deemed to be incurred on the date the acquired Person is merged or consolidated with or
into the Company or any of its Subsidiaries or becomes a Subsidiary of the Company or the date of the related acquisition, as the case may be. 

“Annual Debt Service Charge” means, for any period, the interest expense of the Company and its Subsidiaries
for such period, determined on a consolidated basis in accordance with United States generally accepted accounting principles, including, without duplication: 
  

	 	(a)	 all amortization of debt discount and premium; 

 

	 	(b)	 all accrued interest; 

  
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	 	(c)	 all capitalized interest; and 

 

	 	(d)	 the interest component of finance lease obligations. 

“Consolidated Income Available for Debt Service” for any period means Consolidated Net Income of the Company
and its Subsidiaries for such period, plus amounts which have been deducted and minus amounts which have been added for, without duplication: 
  

	 	(a)	 interest expense on Debt; 

 

	 	(b)	 provision for taxes based on income; 

 

	 	(c)	 amortization of debt discount, premium and deferred financing costs; 

 

	 	(d)	 provisions for gains and losses on sales or other dispositions of properties and other investments;

  

	 	(e)	 property depreciation and amortization; 

 

	 	(f)	 the effect of any non-cash items; and 

 

	 	(g)	 amortization of deferred charges, 

all determined on a consolidated basis in accordance with United States generally accepted accounting principles. 

“Consolidated Net Income” for any period means the amount of net income (or loss) of the Company and its
Subsidiaries for such period, excluding, without duplication: 
  

	 	(a)	 extraordinary items; and 

 

	 	(b)	 the portion of net income (but not losses) of the Company and its Subsidiaries allocable to minority
interests in unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by the Company or one of its Subsidiaries, 

all determined on a consolidated basis in accordance with United States generally accepted accounting principles. 

“Debt” means, with respect to any Person, any indebtedness of such Person, whether or not contingent, in
respect of: 
  

	 	(a)	 borrowed money or evidenced by bonds, notes, debentures or similar instruments; 

 

	 	(b)	 indebtedness secured by any Lien on any property or asset owned by such Person, but only to the extent of
the lesser of (a) the amount of indebtedness so secured and (b) the fair market value (determined in good faith by the Board of Directors of such Person or, in the case of the Company or a Subsidiary of the Company, by the General
Partner’s Board of Directors) of the property subject to such Lien; 

  

	 	(c)	 reimbursement obligations, contingent or otherwise, in connection with any letters of credit actually issued
or amounts representing the balance deferred and unpaid of the purchase price of any property except any such balance that constitutes an accrued expense or trade payable; or 

  
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	 	(d)	 any lease of property by such Person as lessee which is required to be reflected on such Person’s
balance sheet as a finance lease in accordance with United States generally accepted accounting principles, 

 and also
includes, to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course of business), Debt of the types referred to
above of another Person (it being understood that Debt shall be deemed to be incurred by such Person whenever such Person shall create, assume, guarantee or otherwise become liable in respect thereof). In the case of clause (d) above, the term
“Debt” shall not include any lease of property by such Person as lessee which is required to be reflected on such Person’s balance sheet as an operating lease in accordance with United States generally accepted accounting
principles. 
 “Original Issue Date” shall have the meaning set forth in Section (2) of this Annex I.

 “Total Assets” means the sum of, without duplication: 

 

	 	(a)	 Undepreciated Real Estate Assets; and 

 

	 	(b)	 all other assets (excluding accounts receivable and intangibles) of the Company and its Subsidiaries,

 all determined on a consolidated basis in accordance with United States generally accepted accounting principles. 

“Total Unencumbered Assets” means the sum of, without duplication: 

 

	 	(a)	 those Undepreciated Real Estate Assets which are not subject to a Lien securing Debt; and

  

	 	(b)	 all other assets (excluding accounts receivable and intangibles) of the Company and its Subsidiaries not
subject to a Lien securing Debt, 

 all determined on a consolidated basis in accordance with United States generally
accepted accounting principles; provided, however, that, in determining Total Unencumbered Assets as a percentage of outstanding Unsecured Debt for purposes of the Additional Covenant entitled “Maintenance of Total Unencumbered
Assets” as set forth in Section (16)(d) of this Annex I, all investments in unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total Unencumbered
Assets. 
 “Undepreciated Real Estate Assets” means, as of any date, the cost (original cost plus capital
improvements) of real estate assets, right-of-use assets associated with leases of property required to be reflected as finance leases on the balance sheet of the
Company and its Subsidiaries in accordance with United States generally accepted accounting principles and related intangibles of the Company and its Subsidiaries on such date, before depreciation and amortization, all determined on a consolidated
basis in accordance with United States generally accepted accounting principles; provided, however, that “Undepreciated Real Estate Assets” shall not include
right-of-use assets associated with leases of property required to be reflected as operating leases on the balance sheet of the Company and its Subsidiaries in
accordance with United States generally accepted accounting principles. 
 “Unsecured Debt” means Debt of
the Company or any of its Subsidiaries which is not secured by a Lien on any property or assets of the Company or any of its Subsidiaries. 

  
 I-9 

	(26)	 A new Section 116 (the “New Section”) shall be and hereby is added to the Supplemental
Indenture, which New Section shall appear immediately after Section 115 of the Supplemental Indenture and shall read in full as follows; provided that the New Section shall be applicable only with respect to the Securities of such series and
shall only be effective for so long as any of the Securities of such series is Outstanding: 

“SECTION 116.    ELECTRONIC SIGNATURES; CORPORATE SEAL 

“The words “execution,” “signed,” “signature,” and words of like import in this Indenture
shall include images of manually executed signatures transmitted by facsimile, email or other electronic format (including, without limitation, “pdf,” “tif” or “jpg”) and other electronic signatures (including without
limitation, DocuSign and AdobeSign). The use of electronically transmitted images of manual signatures, other electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent,
communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic
Transactions Act or the Uniform Commercial Code. Without limitation to the foregoing, and anything in this Indenture to the contrary notwithstanding, (a) any Officers’ Certificate, Company Order, Company Request, Opinion of Counsel,
Security, Guarantee endorsed on any Security, opinion of counsel, instrument, agreement or other document delivered pursuant to this Indenture may be executed, attested and transmitted by any of the foregoing electronic means and formats,
(b) all references in Section 303 or elsewhere in this Indenture to the execution, attestation or authentication of any Security, any Guarantee endorsed on any Security, or any certificate of authentication appearing on or attached to any
Security by means of a manual or facsimile signature shall be deemed to include signatures that are made or transmitted by any of the foregoing electronic means or formats, and (c) any requirement in the Indenture that any signature be made
under a corporate seal (or facsimile thereof) shall not be applicable to the Securities or any Guarantees endorsed on any Securities. The Company agrees to assume all risks arising out of the use of using digital signatures, including without
limitation the risk of the Trustee acting on unauthorized instructions.” 

  
 I-10 

 ANNEX II 

Form of 2.650% Senior Note due 2033 

and Form of Guarantee Endorsed Thereon 

 [Include only for Global Securities - UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE “DEPOSITARY,” WHICH TERM INCLUDES ANY SUCCESSOR DEPOSITARY FOR THIS SECURITY) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.] 
 CUSIP: 49427R AR3 

ISIN: US49427RAR30 
 No. R - 

KILROY REALTY, L.P. 

2.650% SENIOR NOTES DUE 2033 

Kilroy Realty, L.P., a Delaware limited partnership (herein called the “Company,” which term includes any successor under the
Indenture referred to on the reverse hereof), for value received hereby promises to pay to        , or its registered assigns, the principal sum of        DOLLARS
($        ) on November 15, 2033 at the office or agency of the Company maintained for that purpose in accordance with the terms of the Indenture, in such coin or currency of the United States of America
as at the time of payment shall be legal tender for the payment of public and private debts, and to pay Interest, semi-annually in arrears on May 15 and November 15 of each year, commencing May 15, 2022, on said principal sum at said
office or agency, in like coin or currency, at the rate per annum of 2.650%, from the May 15 or November 15, as the case may be, next preceding the date of this Note (as defined on the reverse hereof) to which Interest has been paid or
duly provided for, unless no Interest has been paid or duly provided for on the Notes, in which case from October 7, 2021, until payment of said principal sum has been made or duly provided for. Except as otherwise provided in or permitted
pursuant to Section 307 of the Indenture (as defined on the reverse hereof), the principal of and premium, if any, and Interest on the Notes shall be paid at the office or agency designated by the Company for such purpose. 

The Company promises to pay Interest on overdue principal and (to the extent that payment of such Interest is permitted by applicable law)
overdue premium, if any, and Interest at the rate of 2.650% per annum. 
 Reference is made to the further provisions of this Note set forth
on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This
Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed manually by the Trustee (as defined on the reverse hereof) or a duly authorized Authenticating Agent under the
Indenture. 
 (Signature Page Follows) 

  
 1 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

 

									
	Dated:	 		 		 	KILROY REALTY, L.P.
					
		 		 		 	By:	 	Kilroy Realty Corporation, as its sole general partner
					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:
					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the 2.650% Senior Notes due 2033 referred to in the within-mentioned Indenture. 

 

									
	Dated:	 		 		 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
					
		 		 		 	By:	 	
                    

		 		 		 		 	Authorized Signatory

 [FORM OF REVERSE SIDE OF NOTE] 

KILROY REALTY, L.P. 

2.650% SENIOR NOTES DUE 2033 

This Note is one of a duly authorized series of Securities of the Company, designated as its 2.650% Senior Notes due 2033
(herein called the “Notes”), issued under and pursuant to an Indenture, dated as of March 1, 2011 (the “Base Indenture”), among the Company, Kilroy Realty Corporation, a Maryland corporation (the
“Guarantor”, which term includes any successor under the Indenture hereinafter referred to), and U.S. Bank National Association, as trustee (herein called the “Trustee,” which term includes any successor
thereto under the Indenture), as supplemented by the Supplemental Indenture, dated as of July 5, 2011 (the “First Supplemental Indenture”; the Base Indenture, as amended and supplemented by the First Supplemental Indenture and
as the same may be further amended and supplemented from time to time, is hereinafter called the “Indenture”), among the Company, the Guarantor and the Trustee and the Officers’ Certificate of the Company and the Guarantor
dated October 7, 2021, delivered pursuant to Sections 102, 201, 301 and 303 of the Indenture (the “Officers’ Certificate”), to which reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Company, the Guarantor and the Holders of the Notes. Terms (whether or not capitalized) that are defined in the Indenture and used but not otherwise defined in this Note shall have
the respective meanings ascribed thereto in the Indenture. 
 If an Event of Default with respect to the Notes occurs and is
continuing, then the principal of and accrued and unpaid Interest on all of the Notes may be declared or, in the case of certain Events of Default, shall automatically become immediately due and payable in the manner and with the effect provided in
the Indenture. 
 The Indenture contains provisions permitting the Company, the Guarantor and the Trustee, with the consent
of the Holders of not less than a majority in aggregate principal amount of all Outstanding Securities of each series affected by such supplemental indenture, to execute supplemental indentures adding any provisions to or changing in any manner or
eliminating any of the provisions of the Indenture or of any supplemental indenture or the Securities of such series or modifying in any manner the rights of the Holders of the Securities of such Series, subject to exceptions set forth in
Section 902 of the Indenture. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Notes then Outstanding, on behalf of the Holders of all of the Notes, to waive compliance
by the Company or the Guarantor with certain provisions of the Indenture and certain past defaults or Events of Default with respect to the Notes and their consequences. 

No reference herein to the Indenture and no provision of this Note, the Guarantee endorsed on this Note or the Indenture shall
alter or impair, as among the Company and the Holder of this Note, the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and Interest on this Note at the place, at the respective times, at
the rate, in the respective amounts and in the coin or currency herein and in the Indenture prescribed. 
 Interest on the
Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 

The Notes are issuable in fully registered form, without coupons, in minimum denominations of $2,000 principal amount and in
integral multiples of $1,000 principal amount in excess thereof. As provided in the Indenture and subject to certain limitations set forth therein, the Notes may be surrendered for registration of transfer or for exchange for a like aggregate
principal amount of Notes of authorized denominations as requested by the Holders surrendering the same. No service charge shall be made for any registration of transfer or exchange of Notes, but the Company may require payment of a sum sufficient
to 

  
 1 

 
cover any tax or other governmental charge that may be imposed in connection therewith, subject to exceptions set forth in the Indenture. 

The Company shall have the right to redeem the Notes, in whole at any time and from time to time in part, at the Redemption
Price and on the terms and conditions set forth in the Indenture and the Officers’ Certificate. 
 Written notice of
redemption must be given to Holders of the Notes (or portions thereof) to be redeemed not less than 15 nor more than 60 days prior to the applicable Redemption Date. 

The Notes are not subject to redemption through the operation of any sinking fund. 

No recourse under or upon any obligation, covenant or agreement contained in the Indenture or the Notes, or because of any
indebtedness evidenced thereby, shall be had against any past, present or future stockholder, employee, officer or director, as such, of the Company, the General Partner, the Guarantor or of any successor, either directly or through the Company, the
General Partner, the Guarantor or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance of the Notes by the Holders and as part of the consideration for the issue of the Notes. 
 This
Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

  
 2 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were
written out in full according to applicable laws or regulations. 
  

			
	TEN–COM	 	as tenants in common
		
	TEN–ENT	 	as tenant by the entireties
		
	UNIF GIFT MIN ACT	 	Uniform Gifts to Minors Act
		
	Cust	 	Custodian
		
	JT–TEN	 	as joint tenants with right of survivorship and not under Uniform Gifts to Minors Act

 

			
		 	
                    

		 	(State)

 Additional abbreviations may also be used though not in the above list. 

  
 3 

 GUARANTEE 

Kilroy Realty Corporation, a Maryland corporation (hereinafter referred to as the “Guarantor,” which term
includes any successor under the Indenture referred to below), hereby irrevocably and unconditionally guarantees on a senior basis on the terms set forth in the Indenture, the Guarantee Obligations, which include (i) the due and punctual
payment of the principal of and premium, if any, and Interest (including the Redemption Price upon redemption pursuant to Article Eleven of the Indenture) on the 2.650% Senior Notes due 2033 (the “Notes”) of Kilroy Realty, L.P., a
Delaware limited partnership (the “Company,” which term includes any successor thereto under the Indenture), whether at Stated Maturity, upon acceleration, upon redemption or otherwise, the due and punctual payment of Interest on
any overdue principal and (to the extent permitted by law) any overdue premium, if any, and Interest on the Notes, and the due and punctual performance of all other obligations of the Company to the Holders of the Notes or the Trustee all in
accordance with the terms set forth in Article Sixteen of the Indenture, and (ii) in case of any extension of time of payment or renewal of any Notes or any such other obligations, that the same shall be promptly paid in full when due or
performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration, call for redemption or otherwise. 

This Guarantee has been issued under and pursuant to an Indenture, dated as of March 1, 2011 (the “Base
Indenture”), among the Company, the Guarantor and U.S. Bank National Association, as trustee (herein called the “Trustee,” which term includes any successor thereto under the Indenture), as supplemented by the Supplemental
Indenture, dated as of July 5, 2011 (the “First Supplemental Indenture”; the Base Indenture, as amended and supplemented by the First Supplemental Indenture and as the same may be further amended and supplemented from time to
time, is hereinafter called the “Indenture”), among the Company, the Guarantor and the Trustee and the Officers’ Certificate of the Company and the Guarantor dated October 7, 2021, delivered pursuant to Sections 102, 201,
301 and 303 of the Indenture (the “Officers’ Certificate”). Terms (whether or not capitalized) that are defined in the Indenture and used but not otherwise defined in this Guarantee shall have the respective meanings ascribed
thereto in the Indenture. 
 The obligations of the Guarantor to the Holders of the Notes and to the Trustee pursuant to
this Guarantee and the Indenture are expressly set forth in Article Sixteen of the Indenture and reference is hereby made to such Indenture for the precise terms of this Guarantee. 

Without limitation to the provisions of Article Sixteen of the Indenture, the Guarantor hereby waives diligence, presentment,
demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any right to require a proceeding first against the Company, the benefit of discussion, protest or notice with respect to the Notes and all demands
whatsoever. 
 No recourse under or upon any obligation, covenant or agreement contained in the Indenture or the Notes, or
because of any indebtedness evidenced thereby, shall be had against any past, present or future stockholder, employee, officer or director, as such, of the Company, the General Partner or the Guarantor or of any successor, either directly or through
the Company, the General Partner or the Guarantor or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being
expressly waived and released by the acceptance of the Notes by the Holders and as part of the consideration for the issue of the Notes. 

This is a continuing Guarantee and shall remain in full force and effect and shall be binding upon the Guarantor and its
successors until full and final payment of all of the Company’s obligations under the Notes and Indenture or until legally discharged in accordance with the Indenture and shall inure to the benefit of the successors and assigns of the Trustee
and the Holders of the Notes, and, in the event of any transfer or assignment of rights by any Holder of the Notes or the Trustee, the rights and privileges herein conferred upon that party shall automatically extend to and be vested in such
transferee or assignee, all 

  
 1 

 
subject to the terms and conditions hereof. This is a Guarantee of payment and performance and not of collection. 

This Guarantee shall not be valid or become obligatory for any purpose until the certificate of authentication on the Note
upon which this Guarantee is endorsed shall have been signed manually by the Trustee or a duly authorized Authenticating Agent under the Indenture. 

The obligations of the Guarantor under this Guarantee shall be limited as provided in Article Sixteen of the Indenture to the
extent necessary so that it does not constitute a fraudulent conveyance or fraudulent transfer. 
 THE TERMS OF ARTICLE
SIXTEEN OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE. 
 This Guarantee shall be governed by, and construed in
accordance with, the laws of the State of New York. 
 (Signature Page Follows) 

  
 2 

 IN WITNESS WHEREOF, the Guarantor has caused this instrument to be duly executed. 

 

							
	Dated:	 		 	KILROY REALTY CORPORATION, as Guarantor
				
		 		 	By:	 	
                    

		 		 		 	Name:
		 		 		 	Title:
				
		 		 	By:	 	
                    

		 		 		 	Name:
		 		 		 	Title:

 ASSIGNMENT 

For value received
                    hereby sell(s) assign(s) and transfer(s) unto
                    (Please insert social security or other Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably
constitutes and appoints                    attorney to transfer said Note on the books of the Company, with full power of substitution in the
premises. 
  

			
	Dated:	 	
		 	
                    

		
		 	
                    

		 	Signature(s)
		
		 	 Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security
Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

		
		 	
                    

		 	Signature Guarantee

 NOTICE: The signature on this Assignment must correspond with the name as written upon the face of the Note in every
particular without alteration or enlargement or any change whatever. 

 ANNEX III 

ResolutionsExhibit 10.1

 

Execution Version

 

STOCK PURCHASE AGREEMENT

BY AND AMONG 

STANDARD HOLDINGS INC, 

MARK DE LUCA, 

STEPHANIE ROY DUFAULT, 

DUNE INC. 

AND 

CREATD
PARTNERS, LLC

 

 

Dated as of 

October 3, 2021

 

     

     

    

 

STOCK PURCHASE AGREEMENT

 

This Stock Purchase Agreement
(this “Agreement”), dated as of October 3, 2021 is entered into by and among Creatd Partners, LLC (“Buyer”),
Standard Holdings, Inc. (“SHI”) and Mark De Luca (“De Luca”; De Luca together with SHI, collectively,
“Sellers”) and, solely for purposes of Section 8.10, Stephanie Roy Dufault (“DuFault”). Buyer,
Sellers and Du Fault are collectively referred to herein as the Parties and individually as a “Party.”

 

RECITALS

 

WHEREAS, Sellers collectively
own 9,250,000 shares of common stock of Dune Inc., a Delaware corporation (the “Company”); and

 

WHEREAS, Buyer wishes
to purchase from the Sellers, and Sellers desire to sell to Buyer, an aggregate total of 3,905,634 shares of the Company’s common
stock (the “Purchased Shares”) consisting of 832,436 shares to be purchased from and sold by De Luca and 3,073,198
shares to be purchased from and sold by SHI.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I

Purchase and sale

 

Section 1.01 Purchase
and Sale. Subject to the terms and conditions set forth herein, at the Closing (as hereinafter defined), Sellers shall sell
to Buyer, and Buyer shall purchase from Sellers, the Purchased Shares, free and clear of any mortgage, pledge, lien, charge, security
interest, claim, community property interest, option, equitable interest, restriction of any kind (including any restriction on use,
voting, transfer, receipt of income, or exercise of any other ownership attribute), or other encumbrance (each, an “Encumbrance”)
except for the Encumbrance created by that certain Stockholder’s Agreement, dated as of August 16, 2021 (the “Stockholder’s
Agreement”), by and among the Company, Buyer and each person identified on Schedule A to the Stockholder’s Agreement.

 

Section
1.02 Post-Closing Capitalization.  After Closing, the Company’s capitalization will be as
shown in Schedule 1.02.

 

Section 1.03 Purchase
Price. The aggregate purchase price for the Purchased Shares shall be $424,694.40 (the “Purchase Price”),
of which $90,519.00 shall be allocated and payable to De Luca (the “De Luca Purchase Price”) and $334,175.40 shall
be allocated and payable to SHI (the “SHI Purchase Price”). Subject to Section 1.03(d) and Section 1.03(e),
Buyer shall pay the Purchase Price to Sellers at the Closing as follows:

 

(a) Buyer shall
cause Creatd Inc., a Nevada corporation (“Parent”) to issue and deliver to SHI 128,529 shares (the “SHI Stock
Amount”) of Parent’s Common Stock (“Parent Common Stock”), which may be represented by one or more
certificates, or, to the extent not in certificate form, such issuance of Parent Common Stock may be evidenced in book-entry form, at
Buyer’s election. The SHI Stock Amount shall be subject to a six-month holding period (“Restricted Period”)
subject to the provisions of 17 CFR § 230.144 (“Rule 144”) promulgated pursuant to the Securities Act of 1933
(the “Securities Act”); and

 

    -2- 

     

    

 

(b) Buyer shall
cause Parent to issue and deliver to De Luca 34,815 shares (the “De Luca Stock Amount”) of Parent Common Stock, which
may be represented by one or more certificates, or the extent not in certificate form, such issuance of Parent Common Stock may be evidenced
in book-entry form, at Buyer’s election. The De Luca Stock Amount shall be subject to the Restricted Period subject to the provisions
of Rule 144.

 

(c) Sellers agree
and acknowledge that the Parent Common Stock to be issued to each of the Sellers pursuant to Section 1.03(a) and Section 1.03(b) shall
constitute the entire consideration payable by Buyer for the Purchased Shares, and that none of the Purchase Price shall be payable in
cash or any other form. 

 

(d) Sellers acknowledge
and agree that any Parent Common Stock to be issued to them in consideration of the Purchased Shares shall not be issued directly to
them but shall, instead, be issued to either:

 

(i) Such Seller’s registered broker,
if one exists, and if such registered broker is willing and able to hold restricted shares of Parent’s Common Stock until the expiration
of the Restricted Period; or

 

(ii) Pacific Stock Transfer (“Transfer
Agent”), Parent’s registered transfer agent, for future release to Sellers upon the expiration of the Restricted Period.

 

(e) Notwithstanding
any other provision of this Section 1.03, Sellers agree that $50,000.00 worth of Parent Common Stock issuable to Sellers in consideration
of the Purchased Shares (the “Indemnification Escrow Amount”), $39,343.14 of which shall be allocable to SHI and $10,656.86
of which shall be allocable to De Luca, shall be held in escrow and reserved in each Seller’s name by Transfer Agent (“Escrow
Agent”) to secure the Sellers’ indemnification obligations hereunder. The Indemnification Escrow Amount shall be held
in an account or accounts established by Escrow Agent (an “Escrow Account”) until the Escrow Release Date (as hereinafter
defined) subject to the terms of Article VII hereof.

 

Section 1.04 Accredited
Investor Status. As a condition to a Sellers’ receipt of any Parent Common Stock, each Seller individually represents and warrants
to Buyer and Parent that it is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act.

 

ARTICLE II

CLOSING

 

Section 2.01 Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place simultaneously
with the execution of this Agreement on the date of this Agreement (the “Closing Date”) at the offices of Brody Wilkinson
PC, 2507 Post Road, Southport, CT 06890, or remotely by exchange of documents and signatures (or their electronic counterparts). The
consummation of the transactions contemplated by this Agreement shall be deemed to occur at 10:00 AM ET time on the Closing Date.

 

Section 2.02 Company
and Sellers Closing Deliverables. At the Closing, the Company and Sellers shall deliver to Buyer the following:

 

(a) A certificate
of the Secretary (or other officer) of the Company certifying: (i) that attached thereto are true and complete copies of all resolutions
of the board of directors and the stockholders of the Company authorizing the execution, delivery, and performance of this Agreement,
and the other agreements, instruments, and documents required to be delivered in connection with this Agreement or at the Closing (collectively,
the “Transaction Documents”) to which Sellers and the Company are a party and the consummation of the transactions
contemplated hereby and thereby, and that such resolutions are in full force and effect; (ii) the names, titles, and signatures of the
officers of the Company authorized to sign this Agreement and the other Transaction Documents; and (iii) that attached thereto are true
and complete copies of the governing documents of the Company, including any amendments or restatements thereof, and that such governing
documents are in full force and effect.

 

    -3- 

     

    

 

(b) A good standing
certificate (or its equivalent) for the Company from the secretary of state or similar Governmental Authority of the jurisdiction in
which the Company is organized and each jurisdiction where the Company is required to be qualified, registered, or authorized to do business.
The term “Governmental Authority” means any federal, state, local, or foreign government or political subdivision
thereof, or any agency or instrumentality of such government or political subdivision, or any arbitrator, court, or tribunal of competent
jurisdiction.

 

(c) A duly executed
counterpart of an Amended and Restated Stockholder’s Agreement in substantially the same form as that attached hereto as Exhibit
A (the “Amended and Restated Stockholder’s Agreement”) providing that:

 

(i) The Company’s Board of Directors
consist of three (3) directors who shall be Jeremy Frommer, Laurie Weisberg and Thomas Punch;

 

(ii) All actions of the Board of Directors
shall be taken and approved by simple majority vote;

 

(iii) Buyer shall have the sole right
to name and elect replacement directors for Jeremy Frommer and Laurie Weisberg;

 

(iv) Thomas Punch, De Luca and Du Fault
shall have the sole right to name and elect a replacement director for Thomas Punch, except as limited by the Amended and Restated Stockholder’s
Agreement; and

 

(v) such other terms and provisions as
the Parties may mutually agree as necessary or convenience in connection with the transactions contemplated by this Agreement.

 

Section 2.03 Buyer’s
Deliveries. At the Closing, Buyer shall deliver to Sellers the Parent Common Stock, less the Indemnification Escrow amount
of Parent Common Stock, as set forth in and in accordance with the terms and conditions of Section 1.03, and a duly executed counterpart
of the Amended and Restated Stockholder’s Agreement.

 

Section 2.04 Closing
Net Current Asset Level Adjustment.

 

(a) At Closing, the Purchase Price shall
be subject to adjustment as follows:

 

(i) either (1) an increase by the excess,
if any, of the Net Current Asset Level minus the Target Net Current Asset Level; or (2) a decrease by the difference, if any, of the
Net Current Asset Level less the Target Net Current Asset Level.

 

(ii) At least three
(3) business days before the Closing, Seller and Buyer shall agree upon and prepare a statement setting forth their good faith estimate
of Net Current Asset Level of the Company at Closing (the “Target Net Current Asset Level”), which statement shall
contain an estimated balance sheet of the Company as of the Closing Date (without giving effect to the transactions contemplated herein),
using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation
and estimation methodologies that were used in the preparation of the Company’s financial statements for the most recent fiscal
year end as if such Target Net Current Asset statement was being prepared and audited as of a fiscal year end.

 

(iii) For purposes
of this Agreement, “Net Current Asset Level” shall mean the current assets of the Company, less the current liabilities
of the Company, determined as of the open of business on the Closing Date.

 

Section 2.05 Withholdings.
Buyer and Parent shall be entitled to deduct and withhold from the Purchase Price all Taxes that Buyer and Parent may be required to
deduct and withhold under any provision of Tax Law. All such withheld amounts shall be treated as delivered to Sellers hereunder.

 

    -4- 

     

    

 

ARTICLE III

Representations and warranties of the company and sellers

 

The Sellers jointly and severally
(except with respect to 3.01, which shall be made individually with respect to each Seller’s representations and warranties) represent
and warrant to Buyer that the statements contained in this Article III are true and correct as of the date hereof. For purposes of this
Article III, “Sellers’ knowledge,” “knowledge of Sellers,” and any similar phrases shall
mean the actual or constructive knowledge of Sellers, after due inquiry.

 

Section
3.01 Organization and Authority of the Company and Sellers. The Company is a corporation duly organized, validly existing,
and in good standing under the Laws (as defined in Section 3.04) of the State of Delaware. Each Seller has full power and authority to
enter into this Agreement and the other Transaction Documents to which Sellers are a party, to carry out the obligations hereunder and
thereunder, and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and any
other Transaction Document to which the Company and Sellers are a party, the performance by Sellers of their obligations hereunder and
thereunder, and the consummation by Sellers of the transactions contemplated hereby and thereby have been duly authorized by all requisite
corporate action. This Agreement and each Transaction Document to which Sellers are a party constitute legal, valid and binding obligations
of the Company and Sellers enforceable against the Company and Sellers in accordance with their respective terms.

 

Section
3.02 Capitalization.

 

(a) The Purchased
Shares have been duly authorized, are validly issued, fully paid and nonassessable, and are owned of record and beneficially by the applicable
Seller, free and clear of all Encumbrances. Upon the transfer, assignment, and delivery of the Shares and payment therefor in accordance
with the terms of this Agreement, Buyer shall own all of the Purchased Shares, free and clear of all Encumbrances.

 

(b) All of the
Purchased Shares were issued in compliance with applicable Laws. None of the Purchased Shares were issued in violation of any agreement
or commitment to which Seller or the Company is a party or is subject to or in violation of any preemptive or similar rights of any individual,
corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association
or other entity (each, a “Person”).

 

(c) Except for
the Stockholder’s Agreement, there are no outstanding or authorized options, warrants, convertible securities, stock appreciation,
phantom stock, profit participation or other rights, agreements, or commitments relating to the Purchased Shares of the Company or obligating
Sellers or the Company to issue or sell shares of, or any other interest in, the Company. Except for the Stockholder’s Agreement,
there are no voting trusts, stockholder agreements, proxies, or other agreements in effect with respect to the voting or transfer of
any of the Purchased Shares.

 

Section
3.03 No Subsidiaries. The Company does not have, or have the right to acquire, an ownership interest in any other Person.

 

    -5- 

     

    

 

Section
3.04 No Conflicts or Consents. The execution, delivery and performance by the Sellers of this Agreement and the other Transaction
Documents to which they are a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a)
violate or conflict with any provision of the certificate of incorporation, by-laws or other governing documents of the Company; (b)
violate or conflict with any provision of any statute, law, ordinance, regulation, rule, code, treaty, or other requirement of any Governmental
Authority (collectively, “Law”) or any order, writ, judgment, injunction, decree, determination, penalty, or award
entered by or with any Governmental Authority (“Governmental Order”) applicable to Sellers or the Company; (c) require
the consent, notice, or filing with or other action by any Person or require any Permit, license, or Governmental Order; (d) violate
or conflict with, result in the acceleration of, or create in any party the right to accelerate, terminate, or modify any contract, lease,
deed, mortgage, license, instrument, note, indenture, joint venture, or any other agreement, commitment, or legally binding arrangement,
whether written or oral (collectively, “Contracts”), to which Sellers or the Company are a party or by which Sellers
or the Company is bound or to which any of their respective properties and assets are subject; or (e) result in the creation or imposition
of any Encumbrance on any properties or assets of the Company.

 

Section
3.05 Financial Statements. Complete copies of the Company’s unaudited financial statements consisting of the balance
sheet of the Company as at July 31 in each of the years in existence and the related statements of income and retained earnings, stockholders’
equity and cash flow for the years then ended (the “Financial Statements”) have been made available to Buyer; provided,
however, that if the Sellers do not have audited financial statements for the Company, it will cooperate if the Buyer determines at any
time that is needs audited financial statements of the Company. The Financial Statements are based on the books and records of the Company
and present the financial condition of the Company as of the respective dates they were prepared and the results of the operations of
the Company for the periods indicated. The balance sheet of the Company as of July 31, 2021 is referred to herein as the “Balance
Sheet” and the date thereof as the “Balance Sheet Date”.

 

Section 3.06 Liabilities.
The Company has no liabilities, obligations, or commitments of any nature whatsoever, whether asserted, known, absolute, accrued,
matured, or otherwise (collectively, “Liabilities”), except: (a) those which are adequately reflected or reserved
against in the Balance Sheet as of the Balance Sheet Date; and (b) those which have been incurred in the ordinary course of business
consistent with past practice since the Balance Sheet Date and which are not, individually or in the aggregate, material in amount.

 

Section
3.07 Absence of Certain Changes, Events, and Conditions. Since the Balance Sheet Date, and other than in the ordinary course
of business consistent with past practice, there has not been, with respect to the Company, any change, event, condition, or development
that is, or could reasonably be expected to be, individually or in the aggregate, materially adverse to the business, results of operations,
condition (financial or otherwise), or assets of the Company.

 

Section
3.08 Insurance. Schedule 3.08 sets forth a true and complete list of all current policies or binders of insurance
maintained by the Company and relating to the assets, business, operations, employees, officers, and directors of the Company (collectively,
the “Insurance Policies”). Such Insurance Policies: (a) are in full force and effect; (b) are valid and binding in
accordance with their terms; (c) are provided by carriers who are financially solvent; and (d) have not been subject to any lapse in
coverage. Neither Sellers nor any of their Affiliates (including the Company) has received any written notice of cancellation of, premium
increase with respect to, or alteration of coverage under, any of such Insurance Policies. All premiums due on such Insurance Policies
have been paid. None of Sellers or any of their Affiliates (including the Company) is in default under, or has otherwise failed to comply
with, in any material respect, any provision contained in any Insurance Policy. The Insurance Policies are of the type and in the amounts
customarily carried by Persons conducting a business similar to the Company and are sufficient for compliance with all applicable Laws
and Contracts to which the Company is a party or by which it is bound. For purposes of this Agreement: (x) “Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is
under common control with, such Person; and (y) the term “control” (including the terms “controlled by”
and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a Person, whether through the ownership of voting securities or other ownership interests, by contract,
or otherwise.

 

    -6- 

     

    

 

Section
3.09 Legal Proceedings; Governmental Orders. 

 

(a) There are no
Actions (as hereinafter defined) pending or, to Sellers’ knowledge, threatened against or by the Company, Sellers, or any Affiliate
of Sellers: (i) relating to or affecting the Company or any of the Company’s properties or assets; or (ii) that challenge or seek
to prevent, enjoin, or otherwise delay the transactions contemplated by this Agreement. No event has occurred or circumstances exist
that may give rise to, or serve as a basis for, any such Action.

 

(b) There are no
outstanding, and the Company is in compliance with all, Governmental Orders against, relating to, or affecting the Company or any of
its properties or assets.

 

Section
3.10 Compliance with Laws; Permits. 

 

(a) The Company
has complied, and is now complying, with all Laws applicable to it or its business, properties, or assets.

 

(b) All permits,
licenses, franchises, approvals, registrations, certificates, variances, and similar rights obtained, or required to be obtained, from
Governmental Authorities (collectively, “Permits”) in order for the Company to conduct its business, including, without
limitation, owning or operating any of the Real Property, have been obtained and are valid and in full force and effect. Schedule
3.10(b) lists all current Permits issued to the Company and no event has occurred that would reasonably be expected to result
in the revocation or lapse of any such Permit.

 

Section 3.11 Employee
Benefit Matters.

 

(a) Schedule
3.11(a) contains a true and complete list of each “employee benefit plan” as defined in Section 3(3) of the Employee
Retirement Income Security Act of 1974 (as amended, and including the regulations thereunder, “ERISA”), whether or
not written and whether or not subject to ERISA, and each supplemental retirement, compensation, employment, consulting, profit-sharing,
deferred compensation, incentive, bonus, equity, change in control, retention, severance, salary continuation, and other similar agreement,
plan, policy, program, practice, or arrangement which is or has been established, maintained, sponsored, or contributed to by the Company
or under which the Company has or may have any Liability (each, a “Benefit Plan”).

 

(b) For each Benefit
Plan, Sellers have made available to Buyer accurate, current, and complete copies of each of the following: (i) the plan document with
all amendments, or if not reduced to writing, a written summary of all material plan terms; (ii) any written contracts and arrangements
related to such Benefit Plan, including trust agreements or other funding arrangements, and insurance policies, certificates, and contracts;
(iii) in the case of a Benefit Plan intended to be qualified under Section 401(a) of the Code, the most recent favorable determination
or national office approval letter issued by the Internal Revenue Service and any legal opinions issued thereafter with respect to the
Benefit Plan’s continued qualification; (iv) the most recent Form 5500 filed with respect to such Benefit Plan; and (v) any material
notices, audits, inquiries, or other correspondence from, or filings with, any Governmental Authority relating to the Benefit Plan.

 

(c) Each Benefit
Plan and related trust has been established, administered, and maintained in accordance with its terms and in compliance with all applicable
Laws (including ERISA and the Code). Nothing has occurred with respect to any Benefit Plan that has subjected or could subject the Company
or, with respect to any period on or after the Closing Date, Buyer, or any of its Affiliates, to a civil action, penalty, surcharge,
or Tax under applicable Law or which would jeopardize the previously determined qualified status of any Benefit Plan. All benefits, contributions,
and premiums relating to each Benefit Plan have been timely paid in accordance with the terms of such Benefit Plan and all applicable
Laws and accounting principles. Benefits accrued under any unfunded Benefit Plan have been paid, accrued, or adequately reserved for
to the extent required by GAAP.

 

    -7- 

     

    

 

(d) The Company
has not incurred and does not reasonably expect to incur: (i) any Liability under Title I or Title IV of ERISA, any related provisions
of the Code, or applicable Law relating to any Benefit Plan; or (ii) any Liability to the Pension Benefit Guaranty Corporation. No complete
or partial termination of any Benefit Plan has occurred or is expected to occur.

 

(e) The Company
has not now or at any time within the previous six years contributed to, sponsored, or maintained: (i) any “multiemployer plan”
as defined in Section 3(37) of ERISA; (ii) any “single-employer plan” as defined in Section 4001(a)(15) of ERISA; (iii) any
“multiple employer plan” as defined in Section 413(c) of the Code; (iv) any “multiple employer welfare arrangement”
as defined in Section 3(40) of ERISA; (v) a leveraged employee stock ownership plan described in Section 4975(e)(7) of the Code; or (vi)
any other Benefit Plan subject to required minimum funding requirements.

 

(f) Other than
as required under Sections 601 to 608 of ERISA or other applicable Law, no Benefit Plan provides post-termination or retiree welfare
benefits to any individual for any reason.

 

(g) Neither the
execution of this Agreement nor any of the transactions contemplated by this Agreement will, either alone or in combination with any
other event: (i) entitle any current or former director, officer, employee, independent contractor, or consultant of the Company to any
severance pay, increase in severance pay, or other payment; (ii) accelerate the time of payment, funding, or vesting, or increase the
amount of compensation (including stock-based compensation) due to any such individual; (iii) limit or restrict the right of the Company
to amend or terminate any Benefit Plan; (iv) increase the amount payable under any Benefit Plan; (v) result in any “excess parachute
payments” within the meaning of Section 280G(b) of the Code; or (vi) require a “gross-up” or other payment to any “disqualified
individual” within the meaning of Section 280G(c) of the Code.

 

Section 3.12 Employment
Matters.

 

(a) Schedule
3.12(a) lists: (i) all employees, independent contractors, and consultants of the Company; and (ii) for each individual described
in clause (i), (A) the individual’s title or position, hire date, and compensation, (B) any Contracts entered into between the
Company and such individual, and (C) the fringe benefits provided to each such individual. All compensation payable to all employees,
independent contractors, or consultants of the Company for services performed on or prior to the Closing Date have been paid in full.

 

(b) The Company
is not, and has not been, a party to or bound by any collective bargaining agreement or other Contract with a union or similar labor
organization (collectively, “Union”), and no Union has represented or purported to represent any employee of the Company.
There has never been, nor has there been any threat of, any strike, work stoppage, slowdown, picketing, or other similar labor disruption
or dispute affecting the Company or any of its employees.

 

(c) The Company
is and has been in compliance with: (i) all applicable employment Laws and agreements regarding hiring, employment, termination of employment,
plant closings and mass layoffs, employment discrimination, harassment, retaliation, and reasonable accommodation, leaves of absence,
terms and conditions of employment, wages and hours of work, employee classification, employee health and safety, engagement and classification
of independent contractors, payroll taxes, and immigration with respect to all employees, independent contractors, and contingent workers;
and (ii) all applicable Laws relating to the relations between it and any labor organization, trade union, work council, or other body
representing employees of the Company.

 

    -8- 

     

    

 

Section
3.13 Taxes.

 

(a) All returns,
declarations, reports, information returns and statements, and other documents relating to Taxes (including amended returns and claims
for refund) (collectively, “Tax Returns”) required to be filed by the Company on or before the Closing Date have been
filed. Such Tax Returns are true, correct, and complete in all respects. All Taxes due and owing by the Company (whether or not shown
on any Tax Return) have been timely paid. No extensions or waivers of statutes of limitations have been given or requested with respect
to any Taxes of the Company. Seller has delivered to Buyer copies of all Tax Returns and examination reports of the Company and statements
of deficiencies assessed against, or agreed to by, the Company, for the 2020 Tax period. The term “Taxes” means all
federal, state, local, foreign, and other income, gross receipts, sales, use, production, ad valorem, transfer, franchise, registration,
profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental,
stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs, duties, or other taxes, fees,
assessments, or charges of any kind whatsoever, together with any interest, additions, or penalties with respect thereto.

 

(b) The Company
has not been a member of an affiliated, combined, consolidated, or unitary Tax group for Tax purposes. The Company has no Liability for
Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding provision of state, local,
or foreign Law), as transferee or successor, by contract, or otherwise.

 

(c) There are no
liens for Taxes (other than for current Taxes not yet due and payable) upon the assets of the Company.

 

(d) Sellers are
not a “foreign person” as that term is used in Treasury Regulations Section 1.1445-2. The Company is not, nor has it been,
a United States real property holding corporation (as defined in Section 897(c)(2) of the Code) during the applicable period specified
in Section 897(c)(1)(a) of the Code.

 

(e) The Company
is and has been in compliance with all tax filings and taxes owed relating to personnel listed on Schedule 3.12(a)

 

Section
3.14 Books and Records. The minute books and share record and transfer books of the Company, all of which are in the possession
of the Company and have been made available to Buyer, are complete and correct.

 

Section
3.15 Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission
in connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by
or on behalf of Sellers.

 

Section 3.16 Full
Disclosure. No representation or warranty by the Company or Sellers in this Agreement and no statement contained in the Disclosure
Schedules to this Agreement or any certificate or other document furnished or to be furnished to Buyer pursuant to this Agreement contains
any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained therein, in light
of the circumstances in which they are made, not misleading.

 

    -9- 

     

    

 

ARTICLE IV

Representations and warranties of buyer

 

Buyer represents and warrants
to Seller as follows:

 

Section 4.01 Organization
and Authority of Buyer. Buyer is a limited liability company duly organized, validly existing, and in good standing under
the Laws of the State of Delaware. Buyer has requisite corporate power and authority to enter into this Agreement and the other Transaction
Documents to which Buyer is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated
hereby and thereby, including without limitation issuance of the Parent Common Stock. The execution and delivery by Buyer of this Agreement
and any other Transaction Document to which Buyer is a party, the performance by Buyer of its obligations hereunder and thereunder, and
the consummation by Buyer of the transactions contemplated hereby (including without limitation issuance of the Parent Common Stock)
and thereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement and each Transaction Document
constitute legal, valid, and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms.

 

Section
4.02 No Conflicts; Consents. The execution, delivery, and performance by Buyer of this Agreement and the other Transaction
Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby (including without limitation
issuance of the Parent Common Stock), do not and will not: (a) violate or conflict with any provision of the certificate of incorporation,
by-laws, or other governing documents of Buyer; (b) violate or conflict with any provision of any Law or Governmental Order applicable
to Buyer; or (c) require the consent, notice, declaration, or filing with or other action by any Person or require any Permit, license,
or Governmental Order.

 

Section 4.03 Investment
Purpose. Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer
or sale in connection with, any distribution thereof or any other security related thereto within the meaning of the Securities Act.
Buyer acknowledges that Seller has not registered the offer and sale of the Shares under the Securities Act or any state securities laws,
and that the Shares may not be pledged, transferred, sold, offered for sale, hypothecated, or otherwise disposed of except pursuant to
the registration provisions of the Securities Act or pursuant to an applicable exemption therefrom and subject to state securities laws
and regulations, as applicable.

 

Section
4.04 Parent Common Stock. The shares of Parent Common Stock issuable pursuant hereto, when issued
by Buyer in accordance with this Agreement, will be duly issued, fully paid, and non-assessable.

 

Section
4.05 Condition of Assets/Cash Resources. Buyer has good and marketable title to all owned property
used in its business, and Buyer has (or will have at Closing) available to it sufficient funds to satisfy its monetary obligations in
order to consummate the transactions contemplated hereby. 

 

Section 4.06 Brokers.
No broker, finder, or investment banker is entitled to any brokerage, finders or other fee or commission in connection with
the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or on behalf of Buyer.

 

    -10- 

     

    

 

ARTICLE V

Covenants

 

Section 5.01 Confidentiality.
From and after the Closing, Sellers shall, and shall cause their respective Affiliates, directors, officers, employees, consultants,
counsel, accountants and other agents (collectively, “Representatives”) to, hold in confidence any and all information,
in any form, concerning the Company, except to the extent that such Seller can show that such information: (a) is generally available
to and known by the public through no fault of such Seller, any of its Affiliates, or their respective Representatives; or (b) is lawfully
acquired by such Seller, any of its Affiliates, or their respective Representatives from and after the Closing from sources which are
not prohibited from disclosing such information by any obligation. If a Seller or any of its Affiliates or their respective Representatives
are compelled to disclose any information by Governmental Order or Law, such Seller shall promptly notify Buyer in writing and shall
disclose only that portion of such information which is legally required to be disclosed; provided, however, that Seller
shall use reasonable best efforts to obtain as promptly as possible an appropriate protective order or other reasonable assurance that
confidential treatment will be accorded such information. For purposes of this Agreement, an “Affiliate” of a Person
means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with, such Person and the term “control” (including the terms “controlled by” and “under
common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities or other ownership interests, by contract, or otherwise.

 

Section 5.02 Non-Competition;
Non-Solicitation.

 

(a) For a period
of five (5) years commencing on the Closing Date (the “Restricted Period”), Sellers shall not, individually, collectively
or through any of their respective Affiliates or Representatives: (i) engage in or assist others in engaging in any business, license,
or activity that creates, markets, sells or otherwise promotes beverages with a beauty focus, whether tangible or intangible, by use
of social media, and brand advertisement agencies (the “Restricted Business”) in the United States of America (the
“Territory”); (ii) have an interest in any Person that engages, directly or indirectly, in the Restricted Business
in the Territory in any capacity, including as a partner, stockholder, director, officer, member, manager, employee, contractor, principal,
agent, volunteer, intern, advisor, or consultant; or (iii) intentionally interfere in any material respect with the business relationships
(whether formed prior to or after the date of this Agreement) between the Company and promoters, customers or suppliers of the Company.
Notwithstanding the above, a Seller may own, directly or indirectly, solely as an investment, securities of any Person: (x) traded on
any national securities exchange if such Seller does not Control such Person and does not, directly or indirectly, own five percent (5%)
or more of any class of securities of such Person; or (y) that is an investment fund over which Sellers do not exercise control

 

(b) During the
Restricted Period, Sellers shall not, collectively or individually, and shall not knowingly permit any of their respective Affiliates
or Representatives to, directly or indirectly, hire or solicit any current or former employee of the Company or encourage any employee
to leave the Company’s employment, except pursuant to a general solicitation which is not directed specifically to any such employees;
provided, however, nothing in this Section 5.02(b) shall prevent Seller or any of its Affiliates from hiring: (i) any employee
terminated by the Company; or (ii) after one hundred eighty (180) days from the date of resignation, any employee that has resigned from
the Company.

 

(c) Sellers acknowledge
and agree that a breach or threatened breach of this Section 5.02 would give rise to irreparable harm to Buyer and the Company, for which
monetary damages would not be an adequate remedy, and hereby agree that in the event of a breach or a threatened breach by Seller of
any such obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to it in respect of such
breach, be entitled to equitable relief, including a temporary restraining order, an injunction, or specific performance (without any
requirement to post a bond).

 

(d)
Sellers jointly and severally acknowledge and agree that the restrictions contained in this Section 5.02 are reasonable and necessary
to protect the legitimate interests of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate
the transactions contemplated by this Agreement. If any covenant contained in this Section 5.02 is ever be adjudicated to exceed the
time, geographic, product or service or any other limitations permitted by applicable Law in any jurisdiction, or any Governmental Order,
then any court is expressly empowered and directed to reform such covenant, and such covenant shall be deemed reformed, in such jurisdiction
to the maximum time, geographic, product or service or other limitations permitted by applicable Law or such Governmental Order. The
covenants contained in this Section 5.02 and each provision hereof are severable and distinct covenants and provisions. The invalidity
or unenforceability of any such covenant or provision as written shall not invalidate or render unenforceable the remaining covenants
or provisions hereof, and any such invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such
covenant or provision in any other jurisdiction.

 

Section
5.03 Leak-Out. Each Seller agrees not to sell, transfer, trade or otherwise dispose, on any given day, a number
of Parent Common Stock that exceeds twenty percent (20%) of the daily trading volume of the Parent Common Stock on the immediately prior trading
day.

 

    -11- 

     

    

 

ARTICLE VI

Tax matters

 

Section
6.01 Tax Covenants. 

 

(a) Without the
prior written consent of Buyer, Sellers shall not, to the extent it may affect or relate to the Company: (i) make, change, or rescind
any Tax election; (ii) amend any Tax Return; (iii) take any position on any Tax Return; or (iv) take any action, omit to take any action,
or enter into any other transaction that would have the effect of increasing the Tax liability or reducing any Tax asset of Buyer or
the Company, in respect of any taxable period that begins after the Closing Date or, in respect of any taxable period that begins before
and ends after the Closing Date (each such period, a “Straddle Period”), the portion of any Straddle Period beginning
after the Closing Date.

 

(b) All transfer,
documentary, sales, use, stamp, registration, value added, and other such Taxes and fees (including any penalties and interest) incurred
in connection with this Agreement and the other Transaction Documents shall be borne and paid by Sellers when due. Sellers shall, at
their own expense, timely file any Tax Return or other document with respect to such Taxes or fees (and Buyer shall cooperate with respect
thereto as necessary).

 

(c) Buyer shall
prepare, or cause to be prepared, all Tax Returns required to be filed by the Company after the Closing Date with respect to any taxable
period or portion thereof ending on or before the Closing Date and all Straddle Period Tax Returns. Any such Tax Return shall be prepared
in a manner consistent with past practice (unless otherwise required by Law) and without a change of any election or any accounting method.

 

Section
6.02 Straddle Period. In the case of Taxes that are payable with respect to a Straddle Period, the portion of any such Taxes
that are allocated to Pre-Closing Tax Periods (as defined in Section 6.04) for purposes of this Agreement shall be: (a) in the case of
Taxes: (i) based upon, or related to, income, receipts, profits, wages, capital, or net worth; (ii) imposed in connection with the sale,
transfer, or assignment of property; or (iii) required to be withheld, the amount of Taxes which would be payable if the taxable year
ended with the Closing Date; and (b) in the case of other Taxes, the amount of such Taxes for the entire period multiplied by a fraction,
the numerator of which is the number of days in the period ending on the Closing Date and the denominator of which is the number of days
in the entire period.

 

Section 6.03 Termination
of Existing Tax Sharing Agreements. Any and all existing Tax sharing agreements (whether written or not) binding upon the
Company shall be terminated as of the Closing Date. After such date neither the Company, Sellers, nor any of Sellers’ Affiliates
and their respective Representatives shall have any further rights or liabilities thereunder.

 

Section 6.04 Tax
Indemnification. Sellers shall indemnify the Company, Buyer, and each Buyer Indemnitee (as defined in Section 7.01) and hold
them harmless from and against (a) any loss, damage, liability, deficiency, Action, judgment, interest, award, penalty, fine, cost or
expense of whatever kind (collectively, including reasonable attorneys’ fees and the cost of enforcing any right to indemnification
under this Agreement, “Losses”) attributable to any breach of or inaccuracy in any representation or warranty made
in Section 3.13; (b) any Loss attributable to any breach or violation of, or failure to fully perform, any covenant, agreement, undertaking,
or obligation in Article VI; (c) all Taxes of the Company or relating to the business of the Company for all Pre-Closing Tax Periods
(as defined below); (d) all Taxes of any member of an affiliated, consolidated, combined, or unitary group of which the Company (or any
predecessor of the Company) is or was a member on or prior to the Closing Date by reason of a liability under Treasury Regulation Section
1.1502-6 or any comparable provisions of foreign, state, or local Law; and (e) any and all Taxes of any Person imposed on the Company
arising under the principles of transferee or successor liability or by contract, relating to an event or transaction occurring before
the Closing Date. In each of the above cases, together with any out-of-pocket fees and expenses (including attorneys’ and accountants’
fees) incurred in connection therewith, Seller shall reimburse Buyer for any Taxes of the Company that are the responsibility of Seller
pursuant to this Section 6.04 within ten business days after payment of such Taxes by Buyer or the Company. The term “Pre-Closing
Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any taxable period beginning
before and ending after the Closing Date, the portion of such taxable period ending on and including the Closing Date.

 

    -12- 

     

    

 

Section 6.05 No
Section 336(e) Election. Sellers shall not make an election under Section 336(e) of the Code with respect to the transactions
contemplated by this Agreement.

 

Section
6.06 Cooperation and Exchange of Information. Sellers and Buyer shall provide each other with such cooperation and information
as either of them reasonably may request of the other in filing any Tax Return pursuant to this Article VI or in connection with any
proceeding in respect of Taxes of the Company, including providing copies of relevant Tax Returns and accompanying documents. Each of
Sellers and Buyer shall retain all Tax Returns and other documents in its possession relating to Tax matters of the Company for any Pre-Closing
Tax Period (collectively, “Tax Records”) until the expiration of the statute of limitations of the taxable periods
to which such Tax Records relate.

 

Section
6.07 Survival. Notwithstanding anything in this Agreement to the contrary, the provisions of Section 3.13 and this Article
VI shall survive for the full period of all applicable statutes of limitations (giving effect to any waiver, mitigation, or extension
thereof) plus ninety (90) days.

 

ARTICLE VII

Indemnification

 

Section
7.01 Indemnification by Sellers. Subject to the other terms and conditions of this Article VII, Sellers shall jointly and
severally indemnify, defend and hold harmless each of Buyer and its Affiliates (including, following the Closing, the Company) and their
respective Representatives (collectively, the “Buyer Indemnitees”) from and against, and shall pay and reimburse each
of them for, any and all Losses incurred or sustained by, or imposed upon, the Buyer Indemnitees based upon, arising out of, with respect
to, or by reason of:

 

(a) any inaccuracy
in or breach of any of the representations or warranties of Sellers contained in this Agreement or the other Transaction Documents; or

 

(b) any breach
or non-fulfillment of any covenant, agreement, or obligation to be performed by Sellers pursuant to this Agreement or the other Transaction
Documents.

 

Section
7.02 Indemnification by Buyer. Subject to the other terms and conditions of this Article VII, Buyer shall indemnify and defend
each of Sellers and their Affiliates and their respective Representatives (collectively, the “Seller Indemnitees”)
against, and shall hold each of them harmless from and against, and shall pay and reimburse each of them for, any and all Losses incurred
or sustained by, or imposed upon, the Seller Indemnitees based upon, arising out of, with respect to, or by reason of:

 

(a) any inaccuracy
in or breach of any of the representations or warranties of Buyer contained in this Agreement or the other Transaction Documents;

 

(b) any breach
or non-fulfillment of any covenant, agreement, or obligation to be performed by Buyer pursuant to this Agreement or

 

(c) any acts, occurrences,
or omissions related to the business or business activities of Company occurring after the Closing Date.

 

Section 7.03 Indemnification
Procedures. The party making a claim under this Article VII is referred to as the “Indemnified Party”,
and the party against whom such claims are asserted under this Article VIII is referred to as the “Indemnifying Party”.
An “Action” shall mean claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation,
proceeding, litigation, citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or otherwise,
whether at law or in equity.

 

    -13- 

     

    

 

(a) If any Indemnified
Party receives notice of the assertion or commencement of any Action made or brought by any Person who is not a party to this Agreement
or an Affiliate of a party to this Agreement or a Representative of the foregoing (a “Third Party Claim”) against
such Indemnified Party with respect to which the Indemnifying Party is obligated to provide indemnification under this Agreement, the
Indemnified Party shall give the Indemnifying Party reasonably prompt written notice thereof, but in any event not later than thirty
(30) calendar days after receipt of such notice of such Third Party Claim. The failure to give such prompt written notice shall not,
however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying Party
forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall describe the Third Party Claim in reasonable
detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably practicable,
of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right to participate in,
or by giving written notice to the Indemnified Party, to assume the defense of any Third Party Claim at the Indemnifying Party’s
expense and by the Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such defense; provided,
that if the Indemnifying Party is Seller, such Indemnifying Party shall not have the right to defend or direct the defense of any such
Third Party Claim that (x) is asserted directly by or on behalf of a Person that is a supplier or customer of the Company, or (y) seeks
an injunction or other equitable relief against the Indemnified Party. In the event that the Indemnifying Party assumes the defense of
any Third Party Claim, subject to Section 7.05(b), it shall have the right to take such action as it deems necessary to avoid, dispute,
defend, appeal or make counterclaims pertaining to any such Third Party Claim in the name and on behalf of the Indemnified Party. The
Indemnified Party shall have the right to participate in the defense of any Third Party Claim with counsel selected by it subject to
the Indemnifying Party’s right to control the defense thereof. The fees and disbursements of such counsel shall be at the expense
of the Indemnified Party, provided, that if in the reasonable opinion of counsel to the Indemnified Party, (A) there are legal defenses
available to an Indemnified Party that are different from or additional to those available to the Indemnifying Party; or (B) there exists
a conflict of interest between the Indemnifying Party and the Indemnified Party that cannot be waived, the Indemnifying Party shall be
liable for the reasonable fees and expenses of counsel to the Indemnified Party in each jurisdiction for which the Indemnified Party
determines counsel is required. If the Indemnifying Party elects not to compromise or defend such Third Party Claim, fails to promptly
notify the Indemnified Party in writing of its election to defend as provided in this Agreement, or fails to diligently prosecute the
defense of such Third Party Claim, the Indemnified Party may, subject to Section 8.05(b), pay, compromise, defend such Third Party Claim
and seek indemnification for any and all Losses based upon, arising from or relating to such Third Party Claim. Seller and Buyer shall
cooperate with each other in all reasonable respects in connection with the defense of any Third Party Claim, including making available
(subject to the provisions of Section 5.01) records relating to such Third Party Claim and furnishing, without expense (other than reimbursement
of actual out-of-pocket expenses) to the defending party, management employees of the non-defending party as may be reasonably necessary
for the preparation of the defense of such Third Party Claim.

 

(b) Notwithstanding
any other provision of this Agreement, the Indemnifying Party shall not enter into settlement of any Third Party Claim without the prior
written consent of the Indemnified Party, except as provided in this Section 7.05(b). If a firm offer is made to settle a Third Party
Claim without leading to liability or the creation of a financial or other obligation on the part of the Indemnified Party and provides,
in customary form, for the unconditional release of each Indemnified Party from all liabilities and obligations in connection with such
Third Party Claim and the Indemnifying Party desires to accept and agree to such offer, the Indemnifying Party shall give written notice
to that effect to the Indemnified Party. If the Indemnified Party fails to consent to such firm offer within ten (10) days after its
receipt of such notice, the Indemnified Party may continue to contest or defend such Third Party Claim and, in such event, the maximum
liability of the Indemnifying Party as to such Third Party Claim shall not exceed the amount of such settlement offer. If the Indemnified
Party fails to consent to such firm offer and also fails to assume defense of such Third Party Claim, the Indemnifying Party may settle
the Third Party Claim upon the terms set forth in such firm offer to settle such Third Party Claim. If the Indemnified Party has assumed
the defense pursuant to Section 7.05(a), it shall not agree to any settlement without the written consent of the Indemnifying Party (which
consent shall not be unreasonably withheld, conditioned or delayed).

 

(c) Any Action
by an Indemnified Party on account of a Loss which does not result from a Third Party Claim (a “Direct Claim”) shall
be asserted by the Indemnified Party giving the Indemnifying Party reasonably prompt written notice thereof, but in any event not later
than twenty (20) days after the Indemnified Party becomes aware of such Direct Claim. The failure to give such prompt written notice
shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying
Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall describe the Direct Claim in
reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably
practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have twenty (20) days
after its receipt of such notice to respond in writing to such Direct Claim. The Indemnified Party shall allow the Indemnifying Party
and its professional advisors to investigate the matter or circumstance alleged to give rise to the Direct Claim, and whether and to
what extent any amount is payable in respect of the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s
investigation by giving such information and assistance (including access to the Company’s premises and personnel and the right
to examine and copy any accounts, documents or records) as the Indemnifying Party or any of its professional advisors may reasonably
request. If the Indemnifying Party does not so respond within such twenty (20) day period, the Indemnifying Party shall be deemed to
have rejected such claim, in which case the Indemnified Party shall be free to pursue such remedies as may be available to the Indemnified
Party on the terms and subject to the provisions of this Agreement.

 

    -14- 

     

    

 

(d) Notwithstanding
any other provision of this Agreement, the control of any claim, assertion, event or proceeding with respect to Taxes of the Company
(including, but not limited to, any such claim in respect of a breach of the representations and warranties in Section 3.13 hereof or
any breach or violation of or failure to fully perform any covenant, agreement, undertaking or obligation in Article VI) shall be governed
exclusively by Article VI hereof.

 

(e) Any Losses
payable to a Buyer Indemnitee pursuant to this Article VIII shall be satisfied: (i) from the Indemnification Escrow Amount in accordance
with Section 7.04; and (ii) to the extent the amount of Losses exceeds the amounts available to the Buyer Indemnitee in the Indemnification
Escrow Amount, from Sellers, jointly and severally.

 

Section 7.04 Escrow Procedure.

 

(a) At any time
and from time to time on or prior to the first (1st) anniversary of this Agreement (the “Escrow Release Date”),
if any Buyer Indemnitee makes a claim for indemnity pursuant to and in accordance with Section 7.03 (a “Claim”), the
Buyer Indemnitee (or Buyer on its behalf) shall deliver to the Escrow Agent and Seller a written notice (an “Escrow Notice”)
setting forth in reasonable detail the amount, nature and basis of the Claim by such Buyer Indemnitee. If the Escrow Agent has not received
a written objection to such Claim or portion thereof or the amount of such Claim from Seller within ten (10) business days following
the Escrow Agent’s and Seller’s receipt of such Escrow Notice, then on the eleventh (11th) day following such
receipt, the Escrow Agent shall release, by wire transfer to an account or accounts designated by Buyer, an amount of Parent Common Stock
of value equal to the amount of such Claim.

 

(b) If Seller in
good faith delivers to the Escrow Agent and Buyer a written objection (a “Dispute Notice”) to any Claim or portion
thereof or the amount of such Claim within ten (10) days following both the Escrow Agent’s and Seller’s receipt of such Escrow
Notice, then the Escrow Agent shall not distribute to Buyer any portion of the Parent Common Stock in the Escrow Account that is the
subject of the Dispute Notice until the Escrow Agent receives either (A) joint written instructions signed by Seller and Buyer authorizing
the release to Buyer of the portion of the Parent Common Stock in the Escrow Account that is agreed upon as the amount recoverable in
respect of the Dispute Notice or (B) a final and non-appealable order of any court of competent jurisdiction directing the release to
Buyer of the portion of the Parent Common Stock in the Escrow Account that is determined to be the amount recoverable in respect of the
Dispute Notice; provided, that notwithstanding the foregoing, if Seller objects in part to the amount of the Claim, the Escrow Agent
shall, after the lapse of the aforementioned ten (10) day period, deliver to Buyer an amount from the Escrow Fund equal to the portion
of the Claim not objected to by Seller. Upon receipt of such joint written instructions or such final and non-appealable order, as the
case may be, the Escrow Agent shall release to Buyer such amount of the Parent Common Stock in the Escrow Account in accordance with
such written instructions or final and non-appealable order.

 

(c) Within ten
(10) business days of the Escrow Release Date (the "Distribution Date"), the Escrow Agent shall release to Sellers the
remaining Parent Common Stock in the Escrow Account, less an amount required to satisfy all Unresolved Claims. For purposes of this Agreement,
the term "Unresolved Claims" shall mean, as of the Escrow Release Date, the aggregate amount of all Claims that are
the subject of a Dispute Notice that have not previously been resolved or satisfied in accordance herewith or that were otherwise properly
and timely asserted under this Agreement but otherwise unsatisfied as of the Escrow Release Date, including any Claims for which an Escrow
Notice has been delivered but for which the ten (10) day objection period has not expired as of the Escrow Release Date.

 

(d) The parties
shall cooperate with the Escrow Agent in good faith to execute any escrow agreement or similar agreement that may be required by the
Escrow Agent in order to perform the Escrow Agent’s duties hereunder.

 

Section 7.05 Survival.
Subject to the limitations and other provisions of this Agreement, the representations and warranties contained herein (other
than any representations or warranties contained in Section 3.13 which are subject to Article VI) and all related rights to indemnification
shall survive the Closing and shall remain in full force and effect until the date that is 12 months from the Closing Date (the “Indemnification
Holdback Period”); provided, however, the representations and warranties in Section 3.01, Section 3.02, Section 3.03,
Section 3.15, Section 4.01 and Section 4.06 (collectively, the “Fundamental Representations”) shall survive indefinitely.
Subject to Article VI, all covenants and agreements of the parties contained herein shall survive the Closing indefinitely unless another
period is explicitly specified herein. Notwithstanding the foregoing, any claims which are timely asserted in writing by notice from
the non-breaching party to the breaching party prior to the expiration date of the applicable survival period shall not thereafter be
barred by the expiration of the relevant representation or warranty and such claims shall survive until finally resolved.

 

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Section 7.06 Tax
Claims. Notwithstanding any other provision of this Agreement, the control of any claim, assertion, event, or proceeding with
respect to Taxes of the Company (including, but not limited to, any such claim in respect of a breach of the representations and warranties
in Section 3.18 hereof or any breach or violation of or failure to fully perform any covenant, agreement, undertaking, or obligation
in Article VI) shall be governed exclusively by Article VI hereof.

 

Section 7.07 Cumulative
Remedies. The rights and remedies provided for in this Article VII (and in Article VI) are cumulative and are in addition
to and not in substitution for any other rights and remedies available at Law or in equity or otherwise.

 

Section
7.08 Limitations on Indemnification. Notwithstanding any provision of this Article
VII to the contrary, neither Sellers nor Buyer shall not be liable for any Losses for breach of the representations and warranties of
the Sellers and/or the Company beyond an aggregate amount equal to the Purchase Price.

 

ARTICLE VIII

Miscellaneous

 

Section
8.01 Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby
shall be paid by the party incurring such costs and expenses.

 

Section 8.02 Notices.
All notices, claims, demands, and other communications hereunder shall be in writing and shall be deemed to have been given:
(a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized
overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation of transmission)
if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient;
or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid, if sent to
the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance
with this Section 8.02):

  

	If to SHI:	Standard Holdings, Inc.

    C/O Voyer Law Corporation

    403-134 Abbott Street,

    Vancouver, British Columbia, V6B 2K4.

    ATTN: Kellen Voyer

    E-mail:  tomjpunch@gmail.com

     

	with a copy (which shall not constitute notice) to:	Voyer Law Corporation

    403-134 Abbott Street

    Vancouver, B.C. V6B 2K4

    ATTN: Kellen Voyer

    Email: kellen@voyerlaw.com

	 	 
	If to De Luca:

     

     

     

    with a copy (which shall not
    constitute notice) to:

     

     

     

    If to Buyer:
	[Insert]

    ATTN: [Insert]

    E-mail: [Insert]

     

    [Insert]

    ATTN: [Insert]

    E-mail: [Insert]

     

    Creatd Partners, LLC

    2050 Center Avenue - #640

    Fort Lee, NJ 07024

    ATTN: Chelsea Pullano

    Facsimile: (201) 608-7536

    E-mail: chelsea@creatd.com

     

	with a copy (which shall not constitute notice) to:	Brody Wilkinson PC

    2507 Post Road

    Southport, CT 06890

    ATTN: Thomas J. Walsh, Jr., Esq.

    Facsimile: (203) 254-1772

    E-mail: twalsh@brodywilk.com

     

 

    -16- 

     

    

 

Section
8.03 Interpretation; Headings. This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are
for reference only and shall not affect the interpretation of this Agreement.

 

Section
8.04 Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such
invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement.

 

Section
8.05 Entire Agreement. This Agreement and the other Transaction Documents constitute the sole and entire agreement of the
parties to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous
understandings and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between
the statements in the body of this Agreement and those in the other Transaction Documents (and Exhibits, if any) and the Disclosure Schedules
(other than an exception expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will
control.

 

Section
8.06 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and
their respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written
consent of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party
of any of its obligations hereunder.

 

Section 8.07 Amendment
and Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed
by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
and signed by the party so waiving. No failure to exercise, or delay in exercising, any right or remedy arising from this Agreement shall
operate or be construed as a waiver thereof. No single or partial exercise of any right or remedy hereunder shall preclude any other
or further exercise thereof or the exercise of any other right or remedy.

 

Section
8.08 Governing Law; Arbitration; Waiver of Jury Trial.

 

(a) This Agreement,
including all matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the internal
laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware
or any other jurisdiction). Any
controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration administered
by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the
arbitrator(s) may be entered in any court having jurisdiction thereof. The place of arbitration shall be within the State of New Jersey,
and the arbitral proceedings shall be conducted in English.

 

(b) EACH PARTY
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION, OR COUNTERCLAIM ARISING OUT
OF OR RELATING TO THIS AGREEMENT, INCLUDING ANY EXHIBITS AND SCHEDULES ATTACHED TO THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, OR
THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE OF THE OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL
ACTION; (II) EACH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) EACH PARTY MAKES THIS WAIVER KNOWINGLY AND VOLUNTARILY;
AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

 

Section 8.09 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall
be deemed to be one and the same agreement. A signed copy of this Agreement delivered by email or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

Section
8.10 Consent to Sale. Dufault acknowledges and agrees that she has received adequate notice of
the proposed Transfer (as defined in the Stockholder’s Agreement) of the Purchased Shares pursuant to and in accordance with the
terms of this Agreement in full and complete satisfaction of Sellers’ obligations to provide such notice thereof under the Stockholder’s
Agreement, and, conditional upon the occurrence of Closing, does hereby knowingly, voluntarily, unconditionally and irrevocably waive
all right of first refusal, right of first offer and other preemptive rights she may have under Article IV of the Stockholder’s
Agreement with respect to the Purchased Shares and the transactions contemplated by this Agreement. 

 

Section
8.11 Voluntary Participation. Each of the parties to this Agreement hereby warrants, represents and acknowledges to
each other that they: (a) have been advised to consult with their own separate counsel for individual legal advice regarding this Agreement
and have either received advice from their own legal counsel or have declined the opportunity to do so; (b) have read all provisions
of this agreement and fully understand all of the provisions hereof; and (c) are entering into this agreement voluntarily and without
coercion or undue influence of any kind.

 

[signature page follows]

 

    -17- 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto
duly authorized.

 

	 	BUYER:  
	 	 
	 	CREATD PARTNERS, LLC  
	 	 	 
	 	By:	/s/ Jeremy Frommer
	 	Name: 	Jeremy Frommer
	 	Title:	Chief Executive Officer
	 	 	
	 	SELLERS:  
	 	 	 
	 	/s/ Mark De Luca  
	 	Mark De Luca  
	 	 	 
	 	STANDARD HOLDINGS INC.
	 	 	 
	 	By:	/s/ Thomas Punch
	 	Name:	Thomas Punch
	 	Title:	Authorized Signatory

 

	Solely with respect to Section 8.10:	 
	 	 
	/s/ Stephanie Roy Dufault	 
	Stephanie Roy Dufault	 

 

[Signature Page to Stock Purchase Agreement]

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