Document:

Exhibit 10.1

 

EXECUTION VERSION

 

	 	
        ASSET PURCHASE AND CONTRIBUTION AGREEMENT

         

        by and among

         

        Potter’s
        Professional Lawn Care, LLC,

         

        Potter’s
        professional lawn care, Inc.,

         

        nina
        Potter fernandez,

         

        AND

         

        Grant
        Potter
	 

 

Dated February 3, 2020

 

     

     

    

 

Table
of Contents

 

	 	 	Page
	 	 	 
	Article I. THE TRANSACTION	1
	 	 	 
	1.1.	Purchase and Sale of Acquired Assets; Assumed Liabilities	1
	 	 	 
	1.2.	Purchase Price; Payment	6
	 	 	 
	1.3.	Closing Statement; Adjustment	7
	 	 	 
	Article II. CLOSING	9
	 	 	 
	2.1.	Closing Date	9
	 	 	 
	2.2.	Closing Deliveries	9
	 	 	 
	Article III. REPRESENTATIONS AND WARRANTIES OF  SELLER AND the Shareholders	11
	 	 	 
	3.1.	Organization	11
	 	 	 
	3.2.	Authority	11
	 	 	 
	3.3.	No Conflict	12
	 	 	 
	3.4.	Capitalization	12
	 	 	 
	3.5.	Subsidiaries	12
	 	 	 
	3.6.	Financial Statements; Undisclosed Liabilities	12
	 	 	 
	3.7.	Absence of Certain Changes or Events	13
	 	 	 
	3.8.	Title; Condition and Sufficiency of Acquired Assets	14
	 	 	 
	3.9.	Real Property	14
	 	 	 
	3.10.	Accounts Receivable	16
	 	 	 
	3.11.	Inventory	16
	 	 	 
	3.12.	Intellectual Property	17
	 	 	 
	3.13.	Material Contracts	18
	 	 	 
	3.14.	Litigation	19
	 	 	 
	3.15.	Compliance with Laws; Permits	19
	 	 	 
	3.16.	Environmental Matters	19
	 	 	 
	3.17.	Employee Benefit Matters	21
	 	 	 
	3.18.	Taxes	23
	 	 	 
	3.19.	Consents	23
	 	 	 
	3.20.	Employee Relations	24
	 	 	 
	3.21.	Transactions with Related Parties	25

 

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Table
of Contents

(continued)

 

	 	 	Page
	 	 	 
	3.22.	Insurance	25
	 	 	 
	3.23.	Brokers	26
	 	 	 
	3.24.	Relationship with Significant Customers	26
	 	 	 
	3.25.	Relationship with Significant Suppliers	26
	 	 	 
	3.26.	Product Liability; Warranty	26
	 	 	 
	3.27.	Powers of Attorney	27
	 	 	 
	Article IV. REPRESENTATIONS AND WARRANTIES OF BUYER	27
	 	 	 
	4.1.	Organization	27
	 	 	 
	4.2.	Authority	27
	 	 	 
	Article V. COVENANTS	27
	 	 	 
	5.1.	Confidentiality	27
	 	 	 
	5.2.	Non-Compete	28
	 	 	 
	5.3.	Nondisparagement	29
	 	 	 
	5.4.	Further Assurances	29
	 	 	 
	5.5.	Employee Matters	30
	 	 	 
	5.6.	Use of Name	31
	 	 	 
	5.7.	Truck Title	31
	 	 	 
	Article VI. TAX MATTERS	31
	 	 	 
	6.1.	Allocation	31
	 	 	 
	6.2.	Transfer Taxes	31
	 	 	 
	6.3.	Wage Reporting	32
	 	 	 
	6.4.	Cooperation on Tax Matters	32
	 	 	 
	Article VII. SURVIVAL AND INDEMNIFICATION	32
	 	 	 
	7.1.	Survival	32
	 	 	 
	7.2.	General Indemnification	33
	 	 	 
	7.3.	Process for Indemnification	34
	 	 	 
	7.4.	Mitigation	36
	 	 	 
	7.5.	Holdback	36
	 	 	 
	7.6.	Right of Surrender	36
	 	 	 
	7.7.	Remedies Exclusive	36

 

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Table
of Contents

(continued)

 

	 	 	Page
	 	 	 
	7.8.	Tax Treatment	37
	 	 	 
	Article VIII. MISCELLANEOUS	37
	 	 	 
	8.1.	Interpretive Provisions	37
	 	 	 
	8.2.	Entire Agreement	37
	 	 	 
	8.3.	Successors and Assigns	37
	 	 	 
	8.4.	Headings	37
	 	 	 
	8.5.	Modification and Waiver	37
	 	 	 
	8.6.	Expenses	38
	 	 	 
	8.7.	Notices	38
	 	 	 
	8.8.	Governing Law; Consent to Jurisdiction	39
	 	 	 
	8.9.	Public Announcements	39
	 	 	 
	8.10.	No Third Party Beneficiaries	40
	 	 	 
	8.11.	Counterparts	40
	 	 	 
	8.12.	Delivery by Facsimile and Email	40
	 	 	 
	Article IX. CERTAIN DEFINITIONS	40

 

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ASSET PURCHASE
AND CONTRIBUTION AGREEMENT

 

THIS ASSET PURCHASE AND CONTRIBUTION AGREEMENT
(this “Agreement”) is made and entered into as of February 3, 2020, by and among Potter’s Professional
Lawn Care, LLC, a Delaware limited liability company (“Buyer”), Potter’s Professional Lawn Care, Inc.,
a Florida corporation (“Seller”) and the Shareholders (defined below).

 

RECITALS

 

A. Seller is engaged in the business
of commercial and residential fully-integrated lawn maintenance and landscape services including lawn care, new landscape design
and installation, pest control, irrigation, and arbor care (the “Business”).

 

B. The Shareholders collectively own
100% of the issued and outstanding capital stock of Seller.

 

C. Upon the terms and subject to the
conditions set forth herein, Seller proposes to sell, transfer and contribute, and Buyer and ANC Potter’s propose to buy,
substantially all of the assets and assume solely certain specified liabilities of Seller.

 

AGREEMENTS

 

NOW, THEREFORE, in consideration of the mutual
representations, warranties, covenants and agreements contained herein and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, and upon the terms and subject to the conditions hereinafter set forth, the parties
hereto, intending to be legally bound hereby, agree as follows:

 

Article
I.

THE TRANSACTION

 

1.1. Purchase and Sale of Acquired
Assets; Assumed Liabilities.

 

(a) Purchase and Sale of Cash-Purchased
Assets. Subject to the terms and conditions hereof, at the Closing, Seller shall sell, convey, transfer, assign and deliver
to Buyer, and Buyer shall purchase from Seller, an undivided 60% interest (the “Cash-Purchased Assets”) in all
of Seller’s right, title and interest in and to all of Seller’s property and assets, real, personal or mixed, tangible
and intangible, of every kind and description, wherever located and whether or not any of such assets have any value for accounting
purposes or are carried or reflected on or specifically referred to in Seller’s books of account or financial statements,
excluding only the Excluded Assets (the foregoing collectively, the “Acquired Assets”), free and clear of any
and all Encumbrances other than Permitted Encumbrances, including all of the following:

 

(i) all Restricted Cash;

 

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(ii) all trade and other notes and
accounts receivable, advance payments, deposits (including customer deposits), prepaid items and expenses, deferred charges, rights
of offset and credits and claims for refund;

 

(iii) all inventory of raw materials,
work in process, parts, subassemblies and finished goods, wherever located and whether or not obsolete or carried on Seller’s
books of account, in each case with any transferable warranty and service rights of Seller with respect to such Acquired Assets;

 

(iv) all personal property and interests
therein, wherever located, including the personal property set forth on Schedule 1.1(a)(iv) and all vehicles (including,
but not limited to, the Business Vehicles), tools, parts and supplies, fuel, machinery, equipment, tooling, furniture, furnishings,
appliances, fixtures, office equipment and supplies, owned and licensed computer hardware and software and related documentation
(including any source code or systems documentation associated therewith), stored data, communication equipment, trade fixtures
and leasehold improvements, in each case with any transferable warranty and service rights of Seller with respect to such Acquired
Assets;

 

(v) all rights under all Contracts,
including the Contracts set forth on Schedule 1.1(a)(v) (the “Assumed Contracts”);

 

(vi) telephone and fax numbers, websites
and social media accounts, including the ones identified on Schedule 1.1(a)(vi);

 

(vii) all Books and Records, except
as specifically provided by Section 1.1(c)(iv);

 

(viii) all Benefit Plans (including
all insurance policies, plan sponsor rights in trusts, and administration service Contracts related thereto), and all assets held
by Seller in respect of any Benefit Plan;

 

(ix) all Tax Returns to the extent
of, or to the extent maintained for, the Acquired Assets, but excluding any such items if (A) they are included in, or to the extent
related to, any Excluded Assets or Retained Liabilities or (B) any Law prohibits their transfer;

 

(x) any claims or causes of action
of Seller (except those claims or causes of action that are exclusively related to and arise in connection with the Retained Liabilities
or Excluded Assets) against any third party relating to the Business or the Acquired Assets, whether choate or inchoate, known
or unknown, contingent or non-contingent;

 

(xi) all trademarks, service marks
and trade names of Seller (including the trademarks and trade names “Potter’s Lawn & Landscaping”) and any
logos, designs, symbols, trade dress or other source indicators associated therewith, any fictitious names, d/b/a’s or similar
filings related thereto, or any variant of any of them, all business goodwill associated therewith and any applications therefor
or registrations thereof, and any other forms of technology, intangibles, know-how, Intellectual Property or industrial property
rights, including any patents, trade secrets, proprietary manufacturing processes, copyrights, rights of publicity, and any licenses,
consents or other agreements relating thereto;

 

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(xii) any Permits to the extent their
transfer is permitted by applicable Law;

 

(xiii) all of Seller’s intangible
assets related to the Business, including Seller’s goodwill related to the Business;

 

(xiv) all lists, documents, records
and information, in all formats (tangible and intangible) used by Seller and its Affiliates in connection with or otherwise related
to the Business, concerning past, present or prospective clients, customers, suppliers, vendors or other business relations of
the Business; and

 

(xv) all insurance benefits of Seller
(except those insurance benefits that are exclusively related to and arise in connection with the Retained Liabilities or the Excluded
Assets), including rights to make claims and proceeds, arising from or relating to the Business, the Acquired Assets or the Assumed
Liabilities prior to the Closing.

 

Without limiting the generality of the foregoing,
the Acquired Assets shall include all of the assets of Seller reflected on the Interim Balance Sheet and all assets acquired by
Seller since the Interim Balance Sheet Date, except to the extent disposed of in the Ordinary Course of Business since the Interim
Balance Sheet Date or except to the extent specifically identified herein as an Excluded Asset.

 

(b) Contributed Interest. Subject
to the terms and conditions of that certain Rollover Contribution Agreement by and between Seller and ANC Green Solutions - Potter’s,
LLC (“ANC Potter’s”) in the form attached hereto as Exhibit A (the “Contribution Agreement”),
at the Closing, Seller shall convey, transfer, assign and deliver to ANC Potter’s, and ANC Potter’s shall receive from
Seller, an undivided 40% interest (the “Contributed Assets”) in the Acquired Assets, free and clear of any and
all Encumbrances other than Permitted Encumbrances, in exchange for equity securities of ANC Potter’s in a transaction intended
to qualify as a tax free transaction under Section 721 of the Code, as more specifically described in the Contribution Agreement.

 

(c) Excluded Assets. Notwithstanding
anything herein to the contrary, from and after the Closing, Seller shall retain all of its right, title and interest in and to,
and there shall be excluded from the sale, conveyance, assignment or transfer to Buyer hereunder and to ANC Potter’s under
the Contribution Agreement, and the Acquired Assets shall not include, solely the following assets and properties (such retained
assets and properties being the “Excluded Assets”):

 

(i) all rights under this Agreement
and any Ancillary Agreement;

 

(ii) all of the equity interests in
Seller;

 

(iii) the records pertaining to the
organization and existence of Seller;

 

(iv) any Books and Records which Seller
is required by applicable Law to retain; provided, however, that Seller shall provide Buyer with copies of all such
Books and Records at or prior to the Closing; and

 

(v) the assets specifically set forth
on Schedule 1.1(c)(v).

 

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(d) Assumed Liabilities. Subject
to the terms and conditions hereof, at the Closing, Buyer shall, pursuant to a Bill of Sale, Assignment and Assumption Agreement
attached hereto as Exhibit B (the “Bill of Sale”), assume and agree to fully pay, discharge, satisfy
and perform, the following Liabilities of Seller, except in each case to the extent any such Liabilities would have been performed,
paid or otherwise discharged on or prior to the Closing Date, but for a breach or default by Seller or the Shareholders (the “Assumed
Liabilities”):

 

(i) those working capital liabilities
of Seller that were incurred in the Ordinary Course of Business, but only to the extent reflected as current liabilities in the
calculation of Final Working Capital;

 

(ii) the Liabilities of Seller arising
under or relating to any Assumed Contract to the extent such Liabilities relate to events or occurrences following the Closing
Date, were incurred in the Ordinary Course of Business and do not relate to any failure to perform, improper performance, breach
of warranty or other breach, default or violation by Seller on or prior to the Closing; and

 

(iii) Liabilities of the Seller in
connection with the Contracts set forth on Schedule 1.1(d)(iii) (the “Equipment Financing”) in the amounts
not to exceed the aggregate amount of the Equipment Financing set forth in such schedule.

 

(e) Retained Liabilities. Notwithstanding
anything contained herein to the contrary, the Retained Liabilities shall not be assumed by Buyer or ANC Potter’s, but instead
shall be retained, performed, paid and discharged by Seller and the Shareholders. The term “Retained Liabilities”
means all Liabilities of Seller or any of its Affiliates including, without limitation, all Liabilities arising out of the use,
ownership, possession or operation of the Acquired Assets or the conduct of the Business prior to the Closing Date, excepting only
the Assumed Liabilities; provided however that without limiting the foregoing, the Retained Liabilities shall include the following:

 

(i) any Liability for Taxes incurred
by Seller, including Seller’s portion of the Transfer Taxes as set forth in Section 6.2, and any Liability of Seller
for the Taxes of another Person under a contractual indemnity or covenant, as a transferee or otherwise under applicable Tax Laws,
regulations or administrative rules;

 

(ii) any claim or Liability in connection
with or arising from or relating to any Excluded Asset, including any Taxes associated therewith;

 

(iii) any Indebtedness and Transaction
Expenses;

 

(iv) any and all fees, costs and expenses
(including legal fees and accounting fees) that have been incurred or that are incurred by Seller or the Shareholders in connection
with the transactions contemplated by this Agreement, including all fees, costs and expenses incurred in connection with or by
virtue of (a) the negotiation, preparation and review of this Agreement (including the exhibits and Schedules hereto) and all Ancillary
Agreements, (b) the preparation and submission of any filing or notice required to be made or given in connection with any of the
transactions contemplated by this Agreement, and the obtaining of any consent required to be obtained in connection with any of
such transactions, and (c) the consummation of the transactions contemplated by this Agreement and the Ancillary Agreements, including
any retention bonuses, “success” fees, change of control payments and any other payment obligations payable as a result
of or in connection with the consummation of the transactions contemplated by this Agreement and the Ancillary Agreements;

 

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(v) any Liability of Seller to the
Shareholders respecting dividends, distributions in liquidation, redemptions of interests, option payments or otherwise, and any
Liability of Seller pursuant to the agreements and arrangements set forth on Schedule 3.21;

 

(vi) any Liability of Seller arising
out of this Agreement and any Ancillary Agreement;

 

(vii) any Liability arising out of
or relating to any business or property formerly owned or operated by Seller, any Affiliate or predecessor thereof, or by the Shareholders,
but not presently owned and operated by Seller or the Shareholders;

 

(viii) any Liability under or related
to the Benefit Plans;

 

(ix) any Liability of Seller or its
predecessors arising out of any Contract, Permit, franchise or claim that is not transferred to Buyer as part of the Acquired Assets
or, subject to Section 1.1(f), is not transferred to Buyer because of any failure to obtain any third-party or governmental
consent required for such transfer;

 

(x) any Liability with respect to compensation,
severance or benefits of any nature owed to any current or former employee, officer, director, manager, member, partner or independent
contractor of Seller or any ERISA Affiliate (or any beneficiary or dependent of any such individual), whether or not employed by
Buyer or any of its Affiliates after the Closing, that arises out of or relates to (A) the employment, service provider or other
relationship between Seller or ERISA Affiliate and any such individual, including the termination of such relationship, or (B)
any Benefit Plan or related events or conditions occurring on or before the Closing Date;

 

(xi) any product liability or similar
claim for injury to person or property which arises out of or is based upon any express or implied representation, warranty, agreement
or guarantee made by Seller or its Affiliates or alleged to have been made by Seller or its Affiliates or which arises out of or
is based upon a theory of strict liability under Section 402A of the Restatement (2nd) of Torts or any similar or analogous provision
of statutory or common law or which is imposed or asserted to be imposed by operation of law, in connection with any service performed
or product manufactured, sold or leased by or on behalf of Seller or its Affiliates, including any claim relating to any product
delivered in connection with the performance of such service and any claim seeking recovery for consequential damages, lost revenue
or income;

 

(xii) any general warranty claims against
Seller or its Affiliates;

 

(xiii) any Environmental Liability;
and

 

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(xiv) any Liabilities of or relating
to the Business (or the operation thereof prior to Closing), ownership or use of the Acquired Assets prior to the Closing.

 

(f) Nonassignable Assets. Nothing
in this Agreement shall be construed as an attempt to assign, and Buyer shall not assume any Liabilities with respect to, any Contract
or Permit intended to be included in the Acquired Assets that by applicable Law is non-assignable, or that by its terms is non-assignable
without the consent of the other party or parties thereto to the extent such party’s or parties’ consent was not so
obtained, or as to which all the remedies for the enforcement thereof enjoyed by Seller would not, as a matter of law, pass to
Buyer as an incident of the assignments provided for by this Agreement. Seller and the Shareholders shall, at the request and under
the direction of Buyer and in the name of Seller or otherwise (as Buyer shall specify), take all reasonable actions and do or cause
to be done all such things as shall in the reasonable judgment of Buyer be necessary or proper (a) to assure that the rights and
benefits of Seller under such Contracts or Permits shall be preserved for the benefit of Buyer and (b) to facilitate receipt of
the consideration to be received by Seller in and under every such Contract or Permit, which consideration shall be held for the
benefit of, and shall be delivered to, Buyer.

 

1.2. Purchase Price; Payment.

 

(a) Estimate. Prior to the Closing
Date, Seller shall deliver to Buyer an estimated balance sheet of Seller as of the Effective Time prepared in good faith in accordance
with GAAP applied on a basis consistent with the accounting principles and policies used in the preparation of the Interim Balance
Sheet and a written statement (collectively, the “Estimated Closing Statement”) in form and substance reasonably
satisfactory to Buyer, setting forth Seller’s good faith estimate as of the Effective Time of, and the components and calculation
of, Estimated Working Capital, Estimated Indebtedness (including the intended beneficiaries of such Indebtedness to be paid at
the Closing and each component thereof), and Estimated Transaction Expenses (including the intended beneficiaries of such Estimated
Transaction Expenses to be paid at the Closing and each component thereof), with the components thereof prepared in accordance
with GAAP.

 

(b) Payments at Closing. In full
consideration of the purchase of the Cash-Purchased Assets (the “Closing Consideration”), at Closing Buyer shall:

 

(i) assume all of the Assumed Liabilities;

 

(ii) pay and deliver an amount equal
to the Estimated Closing Consideration minus the Holdback Amount to Seller by wire transfer of immediately available funds
to the accounts designated by Seller in the Estimated Closing Statement;

 

(iii) retain from the Estimated Closing
Consideration, an amount equal to the Holdback Amount;

 

(iv) pay and deliver an amount equal
to the Estimated Indebtedness by wire transfer of immediately available funds to the accounts designated by Seller in the Estimated
Closing Statement; and

 

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(v) pay and deliver an amount equal
to the Estimated Transaction Expenses by wire transfer of immediately available funds to the accounts designated by Seller in the
Estimated Closing Statement.

 

Seller acknowledges and agrees that Buyer
shall be entitled to reduce any cash payments to Seller by all applicable deductions and tax withholdings in respect of the payments
pursuant to this Section 1.2(b).

 

1.3. Closing Statement; Adjustment.

 

(a) Delivery of Closing Statement.
Within 90 days after the Closing Date, Buyer shall cause to be prepared and shall deliver to Seller a balance sheet of Seller as
of the Effective Time prepared in good faith in accordance with GAAP applied on a basis consistent with the accounting principles
and policies used in the preparation of the Interim Balance Sheet and a statement (collectively, the “Closing Statement”)
setting forth in reasonable detail Closing Working Capital, Closing Indebtedness, and Closing Transaction Expenses, with the components
thereof prepared in accordance with GAAP.

 

(b) Cooperation. Each of Seller
and Buyer agrees that it will, and it will use reasonable efforts to cause its respective Affiliates, agents and representatives
to, cooperate and assist in the preparation of the Closing Statement and the calculation of Closing Working Capital, Closing Indebtedness,
and Closing Transaction Expenses and in the conduct of the reviews and dispute resolution process referred to in this Section
1.3.

 

(c) Review Period. During the
30-day period following Seller’s receipt of the Closing Statement, Seller shall be permitted to review the working papers
of Buyer relating to the Closing Statement. The Closing Statement and the calculation of Closing Working Capital, Closing Indebtedness,
and Closing Transaction Expenses shall become final and binding upon the parties on the 30th day following delivery thereof, unless
Seller gives written notice of its disagreement with the Closing Statement (“Notice of Disagreement”) to Buyer
prior to such date, which notice, to be valid, must comply with this Section 1.3. Any Notice of Disagreement shall (i) specify
in reasonable detail the nature of any disagreement so asserted, and include all supporting schedules, analyses, working papers
and other documentation, (ii) include only disagreements based on Closing Working Capital, Closing Indebtedness, or Closing Transaction
Expenses not being calculated in accordance with Section 1.3, (iii) specify the line item or items in the calculation of
Closing Working Capital, Closing Indebtedness, or Closing Transaction Expenses with which Seller disagrees and the amount of each
such line item or items as calculated by Seller, and (iv) include Seller’s calculation of Closing Working Capital, Closing
Indebtedness, or Closing Transaction Expenses. Seller shall be deemed to have agreed with all items and amounts included in the
calculation of the Closing Working Capital, Closing Indebtedness, and Closing Transaction Expenses delivered pursuant to Section
1.3(a) except such items that are specifically disputed in the Notice of Disagreement.

 

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(d) Resolution of Disputes. If
Seller delivers, in a timely manner, a Notice of Disagreement pursuant to Section 1.3(c), then the Closing Statement (as
revised in accordance with this Section 1.3(d)), and the resulting calculation of Closing Working Capital, Closing Indebtedness,
and Closing Transaction Expenses resulting therefrom, shall become final and binding upon the parties on the earlier of (a) the
date any and all matters specified in the Notice of Disagreement are finally resolved in writing by Seller and Buyer and (b) the
date any and all matters specified in the Notice of Disagreement not resolved by Seller and Buyer are finally resolved in writing
by the Arbiter. The Closing Statement shall be revised to the extent necessary to reflect any resolution by Seller and Buyer and
any final resolution made by the Arbiter in accordance with this Section 1.3(d). During the 30-day period following the
delivery of a timely Notice of Disagreement or such longer period as Seller and Buyer shall mutually agree, Seller and Buyer shall
seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Notice
of Disagreement. If, at the end of such 30-day period (or such longer period as mutually agreed by Seller and Buyer), Seller and
Buyer have not so resolved such differences, Seller and Buyer shall submit the dispute for resolution to an independent accounting
or valuation firm (the “Arbiter”) for review and resolution of any and all matters which remain in dispute and
which were included in the Notice of Disagreement in accordance with this Section 1.3. The Arbiter shall be a mutually acceptable
nationally or regionally recognized independent public accounting or valuation firm agreed upon by Seller and Buyer in writing;
provided, that in the event the parties are not able to mutually agree on an accounting or valuation firm, the Arbiter shall
be BDO USA, LLP. Seller and Buyer shall use reasonable efforts to cause the Arbiter to render a decision resolving the matters
in dispute within 30 days following the submission of such matters to the Arbiter, or such longer period as Seller and Buyer shall
mutually agree. Seller and Buyer agree that the determination of the Arbiter shall be final and binding upon the parties and that
judgment may be entered upon the determination of the Arbiter in any court having jurisdiction over the party against which such
determination is to be enforced; provided, that the scope of the disputes to be resolved by the Arbiter is limited to only
such items included in the Closing Statement that Seller has properly disputed in the Notice of Disagreement based upon Closing
Working Capital, Closing Indebtedness, or Closing Transaction Expenses not having been calculated in accordance with this Section
1.3. The Arbiter shall determine, based solely on presentations by Buyer and Seller and their respective representatives, and
not by independent review, only those issues in dispute specifically set forth on the Notice of Disagreement and shall render a
written report as to the dispute and the resulting calculation of Closing Working Capital, Closing Indebtedness, and Closing Transaction
Expenses which shall be conclusive and binding upon the parties. In resolving any disputed item, the Arbiter: (i) shall be bound
by the principles set forth in this Section 1.3, (ii) shall limit its review to the line items and items specifically set
forth in and properly raised in the Notice of Disagreement and (iii) shall not assign a value to any line item or items greater
than the greatest value for such item claimed by either party or less than the smallest value for such item claimed by either party.
The fees, costs, and expenses of the Arbiter (i) shall be borne by Seller in the proportion that the aggregate dollar amount of
such disputed items so submitted that are unsuccessfully disputed by Seller (as finally determined by the Arbiter) bears to the
aggregate dollar amount of such items so submitted and (ii) shall be borne by Buyer in the proportion that the aggregate dollar
amount of such disputed items so submitted that are successfully disputed by Seller (as finally determined by the Arbiter) bears
to the aggregate dollar amount of such items so submitted. The fees, costs and expenses of Buyer’s independent accountants
incurred in connection with the preparation of the Closing Statement and review of any Notice of Disagreement shall be borne by
Buyer, and the fees, costs and expenses of Seller’s independent accountants incurred in connection with their review of the
Closing Statement and preparation of any Notice of Disagreement shall be borne by Seller.

 

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(e) Closing Consideration Adjustment.

 

(i) If the Final Closing Consideration
is greater than the Estimated Closing Consideration, then (x) within five Business Days of the determination of all of Final Working
Capital, Final Indebtedness and Final Transaction Expenses, Buyer shall pay Seller an amount equal to such excess by wire transfer
of immediately available funds to an account or accounts designated by Seller prior to the date when such payment is due and (y)
the Purchase Price Adjustment Holdback Amount shall be paid to Seller.

 

(ii) If the Final Closing Consideration
is less than the Estimated Closing Consideration, then Seller and the Shareholders, jointly and severally shall pay or cause to
be paid to Buyer an amount equal to such deficiency. Such payment shall be first made to Buyer by reducing the Purchase Price Adjustment
Holdback Amount. If the Purchase Price Adjustment Holdback Amount is less than the payment required under this clause, any deficiency
shall be paid by Seller and the Shareholders, on a joint and several basis, within five (5) Business Days following the determination
of all of Final Working Capital, Final Indebtedness and Final Transaction Expenses.

 

(f) Purchase Price Adjustment Holdback
Amount. At the Closing, Buyer shall withhold from the Estimated Closing Consideration the Purchase Price Adjustment Holdback
Amount. The Purchase Price Adjustment Holdback Amount, which amount may be adjusted as set forth in this Agreement, shall be paid
to Seller within five (5) Business Days following the determination of all of Final Working Capital, Final Indebtedness and Final
Transaction Expenses.

 

Article
II.

CLOSING

 

2.1. Closing Date. The closing
of the transactions contemplated hereby (the “Closing”) shall take place at the offices of Harter Secrest &
Emery LLP in Rochester, New York (or at such other place as is agreed in writing by Buyer and Seller), or via electronic transmittal
of documents, on the date hereof (the “Closing Date”). For financial accounting and tax purposes, to the extent
permitted by Law, the Closing shall be deemed to have become effective as of 11:59 p.m. on the Closing Date (the “Effective
Time”).

 

2.2. Closing Deliveries.

 

(a) Deliveries by Buyer. At the
Closing, Buyer shall deliver or cause to be delivered the following to Seller or other Persons as specified below:

 

(i) the amounts set forth in Section
1.2(b) in accordance therewith;

 

(ii) the Bill of Sale, duly executed
by Buyer;

 

(iii) the employment agreement with
Nina Potter Fernandez (“Nina”) in the form attached hereto as Exhibit C (the “Nina Employment
Agreement”), duly executed by Buyer;

 

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(iv) the employment agreement with
Grant Potter (“Grant”) in the form attached hereto as Exhibit D (the “Grant Employment
Agreement”), duly executed by Buyer;

 

(v) the Contribution Agreement, duly
executed by ANC Potter’s; and

 

(vi) lease agreements with respect
to the Leased Real Property in the forms attached hereto as Exhibit E-1 and Exhibit E-2, duly executed by Buyer (the
“Lease Agreements”).

 

(b) Deliveries by Seller. At the
Closing, Seller shall deliver or cause to be delivered the following to Buyer:

 

(i) the Bill of Sale, duly executed
by Seller;

 

(ii) the Contribution Agreement, duly
executed by Seller;

 

(iii) the Lease Agreements, duly executed
by Affiliates of the Seller;

 

(iv) the assignment of all domain names
listed in Schedule 2.2(b)(iii) to Buyer;

 

(v) title certificates to any motor
vehicles included in the Acquired Assets (including the Business Vehicles), duly executed by Seller (together with any other transfer
forms necessary to transfer title to such vehicles);

 

(vi) a certificate of the managers
of Seller certifying that attached thereto are true and complete copies of (A) the article of incorporation of Seller, and all
amendments thereto, as certified by the Secretary of State of Florida; (B) the bylaws of Seller, and all amendments thereto; and
(C) all resolutions adopted by the board of directors of Seller and the Shareholders authorizing the execution, delivery and performance
of this Agreement and the other Ancillary Agreements and the consummation of the transactions contemplated hereby and thereby;

 

(vii) a certificate of good standing
dated not more than five (5) days prior to the Closing Date from (i) the Secretary of State of the State of Florida, attesting
to the good standing in Florida of Seller;

 

(viii) all Books and Records of Seller
in possession of Seller (it being understood and agreed that delivery of such Books and Records to Seller’s principal place
of business shall be sufficient delivery);

 

(ix) an affidavit duly executed and
notarized by the father of Nina and Grant, attesting that he no longer holds any capital stock of the Seller;

 

(x) any other transfer documents, as
may reasonably be requested by Buyer;

 

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(xi) the consents from Authorities
or other Persons, if any, set forth on Schedule 3.3 and any other material consents in forms reasonably acceptable to Buyer;

 

(xii) such lien releases or other written
evidence reasonably satisfactory to Buyer, evidencing the release of all Encumbrances on the Acquired Assets that are not Permitted
Encumbrances, including but not limited to those set forth on Schedule 2.2(b)(xii);

 

(xiii) payoff letters or similar letters
or other written evidence reasonably satisfactory to Buyer evidencing that the Closing Indebtedness identified on Schedule 2.2(b)(xiii)
has been paid in full; and

 

(xiv) such other agreements, certificates
and documents as may be reasonably requested by Buyer to effectuate or evidence the transactions contemplated hereby.

 

(c) Deliveries by Shareholders.
At the Closing, the following shall be delivered or caused to be delivered as follows:

 

(i) the Nina Employment Agreement,
duly executed by Nina; and

 

(ii) the Grant Employment Agreement,
duly executed by Grant.

 

Article
III.

REPRESENTATIONS AND WARRANTIES OF

SELLER AND the Shareholders

 

Seller and the Shareholders, jointly and severally,
represent and warrant to Buyer as follows:

 

3.1. Organization. Seller is
a corporation duly organized, validly existing, and in good standing under the laws of the State of Florida. Seller has all requisite
corporate power and authority to carry on its business as it now is being conducted and to execute, deliver and perform this Agreement
and the Ancillary Agreements to which it is a party and to consummate the transactions contemplated hereby and thereby. Seller
is duly qualified to do business and in good standing as a foreign entities in all jurisdictions listed on Schedule 3.1,
which are the only jurisdictions where the nature of the property owned or leased by them or the nature of the business conducted
by them makes such qualification necessary, except where the failure to be so qualified can be cured without material expense and
will not render material Contracts of Seller unenforceable. True and complete copies of the articles of incorporation, bylaws or
other organizational or governance documents of Seller, all as amended to date, have been previously delivered to Buyer.

 

3.2. Authority. The execution,
delivery and performance by Seller of this Agreement and the Ancillary Agreements to which Seller is a party and the consummation
by Seller of the transactions contemplated hereby and thereby have been duly authorized by all necessary company action on the
part of Seller. This Agreement and each Ancillary Agreement to which Seller is a party has been duly and validly executed and delivered
by Seller, and constitutes the valid and binding obligation of Seller, enforceable against Seller in accordance with its respective
terms, except as such enforcement shall be limited by bankruptcy, insolvency, moratorium or similar law affecting creditors’
rights generally and subject to general principles of equity. This Agreement and each Ancillary Agreement to which a Shareholder
is a party has been duly and validly executed and delivered by such Shareholder, to the extent a party thereto, and constitutes
the valid and binding obligation of such Shareholder, enforceable against such Shareholder in accordance with its respective terms,
except as such enforcement shall be limited by bankruptcy, insolvency, moratorium or similar law affecting creditors’ rights
generally and subject to general principles of equity.

 

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3.3. No Conflict. The execution,
delivery and performance by Seller and each Shareholder of this Agreement and the Ancillary Agreements to which Seller or a Shareholder
is a party, and the consummation by Seller and each Shareholder of the transactions contemplated hereby and thereby does not and
will not, with or without the giving of notice or the lapse of time, or both, (x) violate any provision of any Law to which Seller
or any Shareholder is subject, (y) violate any provision of the articles of organization, limited liability company operating agreement
or other organizational or governance documents of Seller, or (z) except as disclosed on Schedule 3.3, violate or result
in a breach of or constitute a default (or an event which might, with the passage of time or the giving of notice, or both, constitute
a default) under, or require the consent of any third party under, or result in or permit the termination or amendment of any provision
of, or result in or permit the acceleration of the maturity or cancellation of performance of any obligation under, or result in
the creation or imposition of any Encumbrance of any nature whatsoever upon any assets or property or give to others any interests
or rights therein under, any indenture, deed of trust, mortgage, loan or credit agreement, license, Permit, Contract, lease, or
other instrument or commitment to which Seller or any Shareholder is a party or by which Seller or any Shareholder may be bound
or affected.

 

3.4. Capitalization. The Shareholders
collectively own all of the issued and outstanding capital stock of Seller. There are outstanding no securities convertible into,
exchangeable for or carrying the right to acquire equity securities of Seller, or subscriptions, warrants, options, phantom equity
interests, rights (including preemptive rights or equity appreciation rights), or other arrangements or commitments obligating
Seller to issue or dispose of any of its equity securities or any ownership interest therein.

 

3.5. Subsidiaries. Seller does
not (i) directly or indirectly own any stock of, equity interest in, or other investment in any other corporation, joint venture,
partnership, trust or other Person or (ii) have any subsidiaries or any predecessors in interest by merger, liquidation, reorganization,
acquisition or similar transaction.

 

3.6. Financial Statements; Undisclosed
Liabilities. The books of account and related records of Seller fairly reflect in all material respects Seller’s assets,
Liabilities and transactions in accordance with GAAP. Schedule 3.6(a) sets forth the following financial statements (the
“Financial Statements”): (x) the balance sheet of Seller as of December 31, 2017, December 31, 2018, and December
31, 2019 (the “Interim Balance Sheet”) (the “Interim Balance Sheet Date”) and the related
statements of income for the years ended December 31, 2017, December 31, 2018, and December 31, 2019 (collectively, the “Interim
Financial Statements”). The Financial Statements fairly present, in all material respects, the financial position of
Seller and the results of its operations and cash flows as of the respective dates and for the respective periods indicated therein
and have been prepared in accordance with GAAP, except that the Interim Financial Statements may not contain all footnotes in accordance
with GAAP and are subject to normal year-end adjustments, none of which are expected be material in amount or nature. The Financial
Statements have been prepared from and are in accordance with the books and records of Seller. Seller does not have any Liabilities,
except (a) to the extent reflected as a Liability on the Interim Balance Sheet, (b) Liabilities incurred in the Ordinary Course
of Business after the Interim Balance Sheet Date (none of which results from, arises out of, or relates to any material breach
or violation of, or default under, a contractual obligation or requirement of Law), and (c) Liabilities disclosed on Schedule
3.6(b).

 

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3.7. Absence of Certain Changes
or Events. Except as set forth on Schedule 3.7, since the Balance Sheet Date, Seller has conducted the Business only
in the Ordinary Course of Business and there has not been a Material Adverse Effect. Without limiting the foregoing, except as
set forth on Schedule 3.7, since the Balance Sheet Date, Seller has not (a) purchased or redeemed any of its equity other
than for cash, or granted or issued any option, warrant or other right to purchase or acquire any such equity, (b) incurred any
Liabilities or Indebtedness, except Liabilities and Indebtedness incurred in the Ordinary Course of Business, or discharged or
prepaid, in whole or in part, any Liabilities or Indebtedness, (c) encumbered any of its properties or assets, tangible or intangible,
except for Encumbrances incurred in the Ordinary Course of Business, (d) (i) granted any increase in the salaries (other than normal
increases for employees averaging not in excess of five percent per annum made in the Ordinary Course of Business) or other compensation
or benefits payable or to become payable to, or any advance (excluding advances for ordinary business expenses consistent with
past practice) or loan to, any officer, director, shareholder, manager, member, partner, employee or independent contractor of
Seller, (ii) made any payments to any pension, retirement, profit-sharing, bonus or similar plan, (iii) granted or made any other
payment of any kind to or on behalf of any officer, director, manager, member, partner, shareholder, employee or independent contractor,
or any of their respective Affiliates, other than payment of base compensation and reimbursement for reasonable expenses in the
Ordinary Course of Business or (iv) adopted, amended or terminated any employee benefit plan (including any Benefit Plan) or any
stay bonus, retention bonus, transaction bonus or change in control bonus plan or arrangement, other than, in any case, amendments
required by applicable Law, (e) suffered any change or, to the knowledge of Seller, received any threat of any change in any of
its relations with, or any loss or, to the knowledge of Seller, threat of loss of, any of the suppliers, clients, distributors,
customers or employees that are material to the Business, including any loss or change which may result from the transactions contemplated
by this Agreement, (f) disposed of or has failed to keep in effect any rights in, to or for the use of any Permit material to the
Business, (g) changed any method of keeping of their respective books of account or accounting practices, (h) disposed of or failed
to keep in effect any rights in, to or for the use of any of the Intellectual Property material to the Business, (i) sold, transferred
or otherwise disposed of any assets, properties or rights of the Business, except inventory sold in the Ordinary Course of Business,
(j) entered into any transaction, Contract or event outside the Ordinary Course of Business or with any partner, shareholder, member,
officer, director, manager or other Affiliate of Seller or of any Shareholder, (k) made nor authorized any capital expenditure,
(l) changed or modified in any manner its existing credit, collection and payment policies, procedures and practices with respect
to accounts receivable and accounts payable, respectively, including acceleration of collections of receivables, failure to make
or delay in making collections of receivables (whether or not past due), acceleration of payment of payables or failure to pay
or delay in payment of payables, (m) incurred any material damage, destruction, theft, loss or business interruption, (n) made
any declaration, payment or setting aside for payment of any distribution (whether in equity or property) with respect to any securities
or interests of Seller, (o) made (except as consistent with past practice) or revoked any Tax election or settled or compromised
any material Liability for Taxes with any Taxing Authority, or (p) waived or released any material right or claim of Seller or
incurred any modifications, amendments or terminations of any Contracts which are in the aggregate materially adverse to Seller
or its Business.

 

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3.8. Title; Condition and Sufficiency
of Acquired Assets.

 

(a) Seller has good and valid title to
all of the assets it purports to own (including the Acquired Assets and those reflected on the Interim Balance Sheet, but excluding
any such assets and properties sold, consumed, or otherwise disposed of in the Ordinary Course of Business since the Balance Sheet
Date) free and clear of all Encumbrances, except for Permitted Encumbrances. At the Closing, Seller will convey (i) the Cash-Purchased
Assets to Buyer free and clear of any and all Encumbrances other than Permitted Encumbrances, and (ii) the Contributed Assets to
ANC Potter’s free and clear of any and all Encumbrances other than the Permitted Encumbrances.

 

(b) The Acquired Assets are in good operating
condition and repair (except for ordinary wear and tear and routine maintenance in the Ordinary Course of Business), are adequate
for the purposes for which they are presently used in the conduct of the Business and are usable in a manner consistent with their
current use, and comply with applicable Laws. Except for the Excluded Assets, the Acquired Assets constitute all of the assets,
properties and rights necessary for the operation of the Business after the Closing in the same manner as the Business was conducted
prior to the Closing by Seller. Other than Seller, no Person (including any Shareholder) owns any assets, properties or rights
used in the Business, except for (i) Excluded Assets, (ii) the real property used in the Business owned by Affiliates of the Seller
and set forth on Schedule 3.8(b), and (iii) assets owned by third parties and used in the Business pursuant to an Assumed
Contract.

 

(c) A list of all of the motor vehicles
used in connection with the Business is set forth on Schedule 3.8(c) (the “Business Vehicles”). Seller
has made available to Buyer copies of titles to all of the Business Vehicles.

 

3.9. Real Property.

 

(a) Seller does not own any real property.

 

(b) Schedule 3.9(b) sets forth
a true, correct and complete description of all written or oral leases, subleases, or other occupancies of real property used by
Seller (collectively, the “Leases”) to which Seller is a party (as lessee, sublessee, licensee or otherwise)
(collectively, the “Leased Real Property”) with a brief description of such lease or sublease including, without
limitation, the parties to the lease, the term of the lease, the current expiration date of the lease, the renewal options, the
basic rent, and any monthly payments of additional rent. Seller does not operate its Business at any location other than the Leased
Real Property. Seller has delivered to Buyer a true, correct and complete copy of the Leases and all amendments, modifications
and supplemental agreements thereto. Each of the Leases is in full force and effect and is binding and enforceable against Seller
and each of the other parties thereto, in accordance with its terms and has not been modified or amended since the date of delivery
to Buyer.

 

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(c) There are no Encumbrances affecting
the Leased Real Property, other than Permitted Encumbrances. No party to any Lease has sent written notice to the other claiming
that such party is in default thereunder. There has not occurred any event which would constitute a breach of or default in the
performance of any covenant, agreement or condition contained in any Lease, nor has there occurred any event which with the passage
of time or the giving of notice or both would constitute such a breach or default. There is no current or pending event or circumstance
that would permit the termination of any Lease or the increase of any liabilities or restrictions of Seller under any Lease. Neither
Shareholders nor Seller has received any written notice from the other party to any Lease of the termination or proposed termination
thereof. No construction, alteration or other leasehold improvement work with respect to any Lease remains to be paid for or to
be performed by Seller. Seller does not have any obligations to provide deposits, letters of credit or other credit enhancements
to retain its rights under any Lease or otherwise operate the Business at the Leased Real Property.

 

(d) Seller presently enjoys peaceful
and undisturbed possession of the Leased Real Property. Except as set forth on Schedule 3.9(d), no Person other than Seller
has any right to use, occupy, or lease any of the Leased Real Property. Neither Shareholders nor Seller has received written notice
of any eminent domain, condemnation or other similar proceedings pending or threatened against Seller with respect to, or otherwise
affecting any portion of, the Leased Real Property. The current use of the Leased Real Property in the conduct of the Business
does not violate any Lease in any respect. There is no violation of any covenant, condition, restriction, easement or order of
any Authority having jurisdiction over the Leased Real Property or the use or occupancy thereof. The Leased Real Property is in
compliance in all respects with all applicable building, zoning, subdivision, health and safety and other land use and similar
applicable Laws, rules and regulations, permits, licenses and certificates of occupancy affecting the Leased Real Property, and
neither Shareholders nor Seller has received any notice of any violation or claimed violation of any such Laws, rules and regulations
with respect to the Leased Real Property which have not been resolved or for which any obligation of Seller remains to be fulfilled,
including but not limited to payments of monetary damages, fines or penalties, or completion of any remedial or corrective measures.
The Leased Real Property is adequately served by proper utilities, sufficient parking and other building services necessary for
its current use and for compliance with all applicable Laws, rules, regulations, permits, licenses and certificates of occupancy.

 

(e) Each use of the Leased Real Property
by Seller is and has been valid, permitted and conforming uses in accordance with the current zoning classification of the Leased
Real Property, and there are no outstanding variances or special use permits affecting the Leased Real Property or their uses.

 

(f) Except as set forth on Schedule
3.9(f) attached hereto, the transaction contemplated by this Agreement does not require the consent of any Person under any
Lease.

 

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(g) The Leased Real Property is in good
repair, ordinary wear and tear excepted, and fit for the purposes for which it is presently used. Seller has rights of egress and
ingress with respect to the Leased Real Property that are sufficient for it to conduct its Business as presently conducted consistent
with past practice.

 

3.10. Accounts Receivable.

 

(a) Except as set forth on Schedule
3.10, all of Seller’s accounts and notes receivable represent amounts receivable for products actually delivered or services
actually provided (or, in the case of non-trade accounts or notes represent amounts receivable in respect of other bona-fide business
transactions), have arisen in the Ordinary Course of Business and have been or will be billed and are generally due within 30 days
after such billing. Except as set forth on Schedule 3.10, all such accounts and notes receivable included in the Acquired
Assets (the “Acquired Receivables”) are and will be fully collectible within 30 days after billing, net of the
reserves shown on the Interim Balance Sheet (or in the books of Seller if such Acquired Receivables were created after the Interim
Balance Sheet Date). The reserve for bad debts shown on the Interim Balance Sheet or, with respect to Acquired Receivable arising
after the Interim Balance Sheet Date, in the books of Seller, have been determined in accordance with GAAP, consistently applied,
subject to normal year-end adjustments and the absence of disclosures normally made in footnotes. To the knowledge of Seller, there
is no contest, claim, or right of set-off under any Contract with any obligor of a material Acquired Receivable relating to the
amount or validity of such Acquired Receivable.

 

(b) Since the Balance Sheet Date, there
have not been any write-offs as uncollectible of Seller’s accounts receivable, except for write-offs in the Ordinary Course
of Business and not in excess of $5,000 in the aggregate.

 

3.11. Inventory. All of the
inventories of Seller, including those reflected in the Interim Balance Sheet, are valued at cost, the cost thereof being determined
on a consistent basis since December 31, 2015, except as disclosed in the Interim Balance Sheet. All of the inventories of Seller
reflected in the Interim Balance Sheet and all inventories acquired since the Interim Balance Sheet Date consist of items or materials
that are marketable and fit for their particular use, are not defective and are of a quality and quantity usable and saleable in
the Ordinary Course of Business within a reasonable period of time and at normal profit margins, and all of the raw materials and
work in process inventory of Seller reflected on the Interim Balance Sheet and all such inventories acquired since the Interim
Balance Sheet Date can reasonably be expected to be consumed or sold in the Ordinary Course of Business within a reasonable period
of time. None of the inventory of Seller is obsolete. Since the Balance Sheet Date, the inventories of Seller have been purchased
in the Ordinary Course of Business and consistent with reasonably anticipated requirements of Seller and the customers of Seller.

 

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3.12. Intellectual Property.

 

(a) Except for the trade name, “Potter’s
Lawn & Landscaping” and the domain name “potterslawn.com” and “pottersprofessional.com”, there
are no patents, patent applications (including any provisional applications, divisions, continuations or continuations in part),
material unregistered trademarks, registered trademarks and applications for registration for trademarks, copyright registrations
and applications for registration of copyrights, software, or domain name registrations in each case owned by or held in the name
of Seller (the “Material Owned Intellectual Property”). The Material Owned Intellectual Property is valid and
in full force and effect and is owned by Seller free and clear of all Encumbrances and other claims, including any claims of joint
ownership, and none of the Material Owned Intellectual Property is the subject of any proceeding contesting its validity, enforceability
or Seller’s ownership thereof. Schedule 3.12(a)(i) sets forth a true and complete list of all Intellectual Property
licensed to Seller and the license or agreement pursuant to which Seller obtained a license to such Intellectual Property. Except
as set forth on Schedule 3.12(a)(ii): (u) Seller owns or possesses adequate licenses or other valid rights to use all patents,
patent applications (including any provisional applications, divisions, continuations or continuations in part), trademarks, service
marks, trade dress, logos, registered trademarks and applications for registration for trademarks, and all goodwill in the foregoing,
copyrights, copyrightable works, works of authorship, industrial designs, software, databases, data compilations, domain names,
know-how, trade secrets, product formulas, inventions, rights-to-use and other industrial and intellectual property rights (collectively,
“Intellectual Property”) used in the conduct of the Business, (v) the conduct of the Business of Seller does
not infringe, misappropriate, dilute or conflict with, and has not conflicted with any Intellectual Property of any other Person,
(w) none of Seller or any Shareholder has received any notices alleging that the conduct of the Business, including the marketing,
sale and distribution of the products and services of the Business, infringes, dilutes, misappropriates or otherwise violates any
Person’s Intellectual Property (including, for the avoidance of doubt, any cease and desist letter or offer of license),
(x) no current or former employee of Seller and no other Person owns or has any proprietary, financial or other interest, direct
or indirect, in whole or in part, and including any rights to royalties or other compensation, in any of Intellectual Property
owned or purported to be owned by Seller, (y) there is no agreement or other contractual restriction affecting the use by Seller
of any of the Intellectual Property owned or purported to be owned by Seller, and (z) Seller is not aware of any present infringement,
dilution, misappropriation or other violation of any of the Intellectual Property owned or purported to be owned by Seller by any
Person, and Seller has not asserted or threatened any claim or objection against any Person for any such infringement or misappropriation
nor is there any basis in fact for any such objection or claim.

 

(b) Except as set forth on Schedule
3.12(b), the information technology systems owned, leased, licensed or otherwise used in the conduct of the Business, including
all computer software, hardware, firmware, process automation systems and telecommunications systems used in the Business (the
“IT Systems”) perform reliably and in material conformance with the documentation and specifications for such
systems. The IT Systems are adequate for the operation of the Business. Seller has taken commercially reasonable steps to ensure
that the IT Systems do not contain any viruses, “worms,” disabling or malicious code, or other anomalies that would
materially impair the functionality of the IT Systems. Seller has taken commercially reasonable steps to provide for the backup,
archival and recovery of the critical business data of Seller. Seller has taken commercially reasonable measure to maintain the
confidentiality and value of all trade secrets. Neither the Seller’s trade secrets nor any other confidential information
of Seller has been disclosed by Seller to, or, to the knowledge of Seller, discovered by, any other Person except pursuant to non-disclosure
agreements or to Persons entitled to receive such trade secrets or other confidential information that are legally obligated to
maintain their confidentiality. Seller has not received notice that, or otherwise have knowledge that, any employee, consultant
or agent of Seller is in default or breach of any employment agreement, non-disclosure agreement, assignment of invention agreement
or similar agreement relating to the protection, ownership, development, use or transfer of Intellectual Property owned by Seller.
Each item of Intellectual Property owned or licensed by Seller will be owned or available for use by Buyer immediately following
the Closing on substantially identical terms and conditions as it was immediately prior to the Closing.

 

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3.13. Material Contracts.

 

(a) Schedule 3.13(a) contains
a complete and accurate list of all Material Contracts (classified (i) through (xv), as applicable, based on the definition of
Material Contracts). As used in this Agreement, “Material Contracts” means all Contracts of the following types
to which Seller is a party or by which Seller or any of its properties or assets is bound: (i) any real property leases; (ii) any
labor or employment-related agreements, including employee leasing or professional employer organization agreements; (iii) any
joint venture and limited partnership agreements; (iv) mortgages, indentures, loan or credit agreements, security agreements and
other agreements and instruments relating to the borrowing of money or extension of credit; (v) agreements for the sale of goods
or products or performance of services by or with any vendor or customer (or any group of related vendors or customers); (vi) lease
agreements for machinery and equipment, motor vehicles, or furniture and office equipment or other personal property by or with
any vendor (or any group of related vendors); (vii) agreements restricting in any manner the right of Seller to compete with any
other Person, or restricting the right of Seller to sell to or purchase from any other Person; (viii) agreements between Seller
and any of its Affiliates; (ix) guaranties, performance, bid or completion bonds, surety and appeal bonds, return of money bonds,
and surety or indemnification agreements; (x) custom bonds and standby letters of credit; (xi) any license agreement or other agreements
to which Seller is a party regarding any Intellectual Property of others; (xii) other agreements, contracts and commitments which
cannot be terminated by Seller on notice of 30 days or less and without payment by Seller of less than $25,000 upon such termination;
(xiii) powers of attorney; (xiv) any agreements or arrangements with any sales representatives, consultants, agents or other representatives
of Seller (including sales commission agreements or arrangements); (xv) documents controlling the terms of any Benefit Plan; and
(xvi) each other agreement or contract to which Seller is a party or by which it or its assets are otherwise bound which is material
to its Business, operation, financial condition or prospects.

 

(b) Each Material Contract is valid,
binding and enforceable against Seller and the other parties thereto in accordance with its terms and is in full force and effect.
Seller and, to the knowledge of Seller, each of the other parties thereto, have performed in all material respects all obligations
required to be performed by them under, and are not in material default under, any of such Contracts and no event has occurred
which, with notice or lapse of time, or both, would constitute such a default. Seller has not received any written claim from any
other party to any Contract that Seller has breached any obligations to be performed by it thereunder, or is otherwise in default
or delinquent in performance thereunder. Seller has furnished to Buyer a true and complete copy of each Material Contract required
to be disclosed on Schedule 3.13(a).

 

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3.14. Litigation. Except as
set forth on Schedule 3.14(a), there is no, and during the last three (3) years there has not been any, dispute, claim,
action, suit, proceeding, review, arbitration or investigation before any Authority (“Litigation”) pending or,
to the knowledge of Seller, threatened against Seller, any of its properties or assets or (to the extent Seller may have an obligation
to provide indemnification or may otherwise become liable) any of its Shareholders, officers, managers or employees. Seller is
not a party to or bound by any outstanding orders, rulings, judgments, settlements, arbitration awards or decrees (or agreement
entered into or any administrative, judicial or arbitration award with any Authority) with respect to or affecting the properties,
assets, personnel or Business of Seller.

 

3.15. Compliance with Laws; Permits.
Seller has been and is in compliance in all material respects with all applicable Laws. Set forth on Schedule 3.15 are all
governmental or other industry permits, registrations, certificates, certifications, exemptions, licenses, franchises, consents,
approvals and authorizations (“Permits”) necessary for the conduct of the Business as presently conducted, each
of which Seller validly possesses and is in full force and effect. Except as set forth on Schedule 3.15, each of the Permits
listed on Schedule 3.15 is and will be included in the Acquired Assets and validly transferred to Buyer at the Closing so
as to allow Buyer after the Closing Date to continue to operate, without interruption, the Business operated by Seller immediately
prior to the Closing. Except as set forth in Schedule 3.15, no notice, citation, summons or order has been issued, no complaint
has been filed and served, no penalty has been assessed and notice thereof given, and no investigation or review is pending or,
to the knowledge of Seller, threatened with respect to Seller, by any Authority with respect to any alleged (a) violation in any
material respect by Seller of any Law, or (b) failure by Seller to have any Permit required in connection with the conduct of the
Business. Without limiting the foregoing, Seller is in material compliance with all applicable Data Security Requirements. No written
notices, claims, charges or complains have been received by Seller since December 31, 2015 from any governmental authority or other
Person relating to or alleging any actual or alleged violation by Seller of, or actual or alleged liability or misconduct under,
any Data Security Requirements. Since December 31, 2015, there has not been, to Seller’s knowledge any actual or alleged
incidents of data security breaches concerning any IT Systems, any unauthorized access to, use or encryption of Personal Information,
Business Data or any IT Systems, or any unauthorized acquisition, destruction, damage, disclosure, loss, corruption, alteration
or use of such Personal Information or Business Data.

 

3.16. Environmental Matters.

 

(a) Seller has conducted, and is conducting
the Business, has owned and operated the Acquired Assets, and has occupied and operated the Leased Real Property in compliance
in all material respects with all Environmental Laws. Seller holds and has been and is in compliance in all material respects with
all permits, certificates, licenses, approvals, registrations and authorizations required under Environmental Laws for the conduct
of the Business as previously and currently conducted or for the ownership and operation of the Acquired Assets or the occupancy
and operation of the Leased Real Property (“Environmental Permits”), and all such Environmental Permits are
in full force and effect. Schedule 3.15 lists all Environmental Permits. Except as set forth on Schedule 3.16, each
of the Environmental Permits listed on Schedule 3.15 is and will be included in the Acquired Assets and will be validly
transferred to Buyer at the Closing so as to allow Buyer after the Closing Date to continue to operate, without interruption, the
Business as operated by Seller immediately prior to the Closing and to own and operate the Acquired Assets and to occupy and operate
the Leased Real Property in compliance with such Environmental Permits and any applicable Environmental Laws.

 

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(b) Seller has not received any notice,
citation, summons, order or complaint, no penalty has been assessed or is pending or, to the knowledge of the Seller, threatened
by any third party (including any Authority) with respect to the Business, the Acquired Assets, the Leased Real Property or any
other real property and relating to or arising from, (i) the use, possession, generation, treatment, manufacture, processing, management,
handling, storage, recycling, transport, discharge, disposal, release or threatened release of, and/or exposure to, Hazardous Substances,
(ii) any non-compliance with Environmental Laws or Environmental Permits or (iii) failure to hold any Environmental Permits. Seller
has not received any request for information, notice of claims, demand or other notification that Seller has or may have any Liability
under Environmental Laws.

 

(c) None of the Leased Real Property
nor any property formerly owned, operated, occupied, leased or otherwise used by Seller in connection with the Business or the
Acquired Assets is listed or proposed for listing on any list maintained by any Authority of contaminated or potentially contaminated
sites, and no Hazardous Substances generated, disposed, released or otherwise handled by or on behalf of Seller has come to be
located at any site identified on any such list or has otherwise resulted in or could result in liability under Environmental Laws.

 

(d) There are no underground storage
tanks, above ground storage tanks, asbestos containing materials or PCB-containing equipment located at, on or under the Leased
Real Property or any property formerly owned, operated, occupied, leased or otherwise used by Seller in connection with the Business
or the Acquired Assets. Any underground storage tanks, above ground storage tanks or wastewater treatment systems at the Leased
Real Property or any property formerly owned, operated, occupied, leased or otherwise used by Seller in connection with the Business
or the Acquired Assets that have been removed or closed have been removed or closed in compliance in all material respects with
all applicable Environmental Laws and Environmental Permits, and there are no outstanding or contingent Liabilities under Environmental
Laws with respect to any such tanks or wastewater treatment systems.

 

(e) No Hazardous Substances have been
released, spilled, leaked, discharged, disposed of, pumped, poured, emitted, emptied, injected, leached, dumped or allowed to escape
and there are no Hazardous Substances in an uncontained state or in a condition representing a threat of a release at, on, about,
under or from the Leased Real Property or any property formerly owned, operated, occupied, leased or otherwise used by Seller in
connection with the Business or the Acquired Assets.

 

(f) All environmental reports, inspections,
investigations, studies, audits, tests, reviews or other analysis, evaluations, assessments, sample results, and all correspondence
or other documentation related to any of the foregoing (“Environmental Documents”) pertaining to the Business,
the Acquired Assets, the Leased Real Property or any property formerly owned, operated, leased or otherwise used by Seller in connection
with the Business or the Acquired Assets in the possession or control of Seller have been provided or made available to Buyer.

 

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(g) Seller does not know of or have any
reason to know of any facts or circumstances related to environmental matters concerning the Business, the Acquired Assets, Leased
Real Property or any property formerly owned, operated, leased or otherwise used by Seller in connection with the Business or the
Acquired Assets that could result in any Liabilities or responsibilities for Buyer pursuant to Environmental Laws, and Seller has
not assumed, by Contract, law or otherwise, any Liability or responsibility pursuant to Environmental Laws for any environmental
conditions, including, but not limited to, conditions or contamination related to any disposal, discharge or release of, or exposure
to, any Hazardous Substances.

 

3.17. Employee Benefit Matters.

 

(a) Schedule 3.17(a) lists all
“employee benefit plans,” as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”) and all other retirement, pension, profit sharing, bonus, stock, restricted stock, stock option, stock
purchase, equity-based, profits interest, phantom equity, employment, service, retainer, compensation, consulting, change in control,
welfare, health, life, disability, group insurance, savings, deferred compensation, incentive compensation, paid time off, severance,
salary continuation, retention, indemnification and fringe benefit agreements, arrangements, plans, programs, Contracts, policies,
or practices maintained, contributed to, or required to be contributed to by Seller or any ERISA Affiliate for the benefit of any
current or former employee, officer, manager, member, partner or independent contractor of Seller or with respect to which Seller
or any ERISA Affiliate may have any Liability (the “Benefit Plans”). In the case of each “employee welfare
benefit plan” as defined in Section 3(1) of ERISA, Schedule 3.17(a) discloses whether such plan is (i) unfunded, (ii)
funded through a “welfare benefit fund,” as such term is defined in Code Section 419(e), or other funding mechanism
or (iii) insured.

 

(b) As applicable, with respect to each
Benefit Plan, Seller has delivered or made available to Buyer true and complete copies of (i) all plan documents (including all
amendments and modifications thereof) and in the case of an unwritten Benefit Plan, a written description thereof, (ii) the current
summary plan description and each summary of material modifications thereto, (iii) the most recent Internal Revenue Service (“IRS”)
determination, advisory or opinion letter and (iv) all communications, records, notices and filings received from or sent to the
IRS, Department of Labor or Pension Benefit Guaranty Corporation.

 

(c) Seller and each ERISA Affiliate are
each in compliance in all material respects with the provisions of ERISA, the Code and all other Laws applicable to the Benefit
Plans. Each Benefit Plan has been maintained, operated and administered in compliance in all material respects with its terms and
any related documents or agreements and the applicable provisions of ERISA, the Code and all other Laws. Seller and each ERISA
Affiliate has timely and accurately satisfied its reporting obligations under Sections 6055 and 6056 of the Code. None of the Seller,
any ERISA Affiliate, nor any Employee Benefit Plan fiduciary has, with respect to the Employee Benefit Plans, engaged in a breach
of fiduciary duty or a non-exempt “prohibited transaction,” as such term is defined in Section 4975 of the Code or
Section 406 of ERISA. No Benefit Plan provides for or continues medical or health benefits, or life insurance or other welfare
benefits (through insurance or otherwise) for any Person or any dependent or beneficiary of any Person beyond termination of service
or retirement other than coverage mandated by Law, and neither Seller nor any ERISA Affiliate has made a written or oral promise,
or communication that could reasonably be expected to promise, to any Person to provide any such benefits.

 

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(d) All contributions (including all
employer contributions and employee salary reduction contributions) and premium payments which are or have been due have been paid
to or with respect to each Benefit Plan within the time required by law. All required or discretionary (in accordance with historical
practices) payments, premiums, contributions, reimbursements, or accruals for all periods ending prior to or as of the Closing
Date shall have been made or properly accrued on the Interim Balance Sheet or will be properly accrued on the books and records
of Seller and each ERISA Affiliate as of the Closing Date. None of the Benefit Plans has any unfunded liabilities which are not
reflected on the Interim Balance Sheet or the books and records of Seller and each ERISA Affiliate. None of Seller nor any ERISA
Affiliate has any assets subject to (or expected to be subject to) a lien for unpaid contributions to any Benefit Plan.

 

(e) No Benefit Plan is (or at any time
has been) subject to Part 3, Subtitle B of Title I of ERISA, Title IV of ERISA or Code Section 412. Neither Seller nor any ERISA
Affiliate (i) has ever contributed to, or been required to contribute to any “multiemployer plan” (as defined in Section
3(37) of ERISA) and (ii) has ever had any Liability (contingent or otherwise) relating to a multiemployer plan.

 

(f) None of the Benefit Plans, nor any
trust created thereunder, now holds or has heretofore held as assets any stock or securities issued by the Seller or any ERISA
Affiliate.

 

(g) All Benefit Plans which are “employee
pension benefit plans” within the meaning of Section 3(2) of ERISA and which are intended to meet the qualification requirements
of Code Section 401(a) now meet, and at all times since their inception have met, the requirements for such qualification, and
the related trusts are now, and at all times since their inception have been, exempt from taxation under Code Section 501(a). Each
Benefit Plan that is intended to be qualified under Code Section 401(a) has received a favorable determination letter (or an opinion
or advisory letter on which it is entitled to rely) from the IRS that such Benefit Plan is qualified under Code Section 401(a).
No event has occurred that will or could give rise to the revocation of any applicable determination letter or the loss of the
right to rely on any applicable opinion or advisory letter, or the disqualification or loss of tax-exempt status of any such Benefit
Plan or trust under Code Sections 401(a) or 501(a).

 

(h) Seller’s and each Shareholder’s
execution of, and performance of the transactions contemplated by, this Agreement will not (either alone or upon the occurrence
of any additional or subsequent events) result in any payment, acceleration, vesting or increase in benefits with respect to any
Person. No payment which is or may be made with respect to any Person, either alone or in conjunction with any other payment, event
or occurrence will or could properly be characterized as an “excess parachute payment” under Code Section 280G. No
Assumed Liability is an obligation to make a payment that is not deductible under Code Section 280G. No Person is entitled to receive
any additional payment (including any tax gross-up or other payment) as a result of the imposition of the excise taxes required
by Code Section 4999.

 

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(i) Each Benefit Plan that constitutes
a “non-qualified deferred compensation plan” within the meaning of Code Section 409A, complies (and has at all relevant
times complied) in both form and operation with the requirements of Code Section 409A so that no amounts paid pursuant to any such
Benefit Plan is subject to tax under Code Section 409A; and neither Seller nor any ERISA Affiliate is or has been required to report
any Taxes due as a result of a failure of a Benefit Plan to comply with Code Section 409A. With respect to each Benefit Plan, neither
Seller nor any ERISA Affiliate has any indemnity obligation for any Taxes or interest imposed or accelerated under Code Section
409A.

 

(j) Seller and each ERISA Affiliate has,
for each month in which it has been an “applicable large employer member” under Section 4980H of the Code, offered
“minimum essential coverage” (as defined in Section 5000A of the Code) which satisfies the affordability and minimum
value standards under Section 4980H of the Code to: (i) all common law employees who must be treated as “full-time employees”
under Section 4980H of the Code; and (ii) the dependents of such employees. Neither Seller nor any ERISA Affiliate have been assessed
a penalty under Section 4980H of the Code and no such penalty is pending, threatened, anticipated, or should reasonably be anticipated.
Seller and each ERISA Affiliate have timely satisfied their obligations under Sections 6055 and 6056 of the Code.

 

3.18. Taxes.

 

(a) (i) Seller has timely filed or caused
to be filed with the appropriate federal, state, local, and foreign governmental entity or other authority (individually or collectively,
“Taxing Authority”) all Tax Returns required to be filed with respect to Seller and has timely paid or remitted
in full or caused to be paid or remitted in full all Taxes required to be paid with respect to Seller (whether or not shown due
on any Tax Return); (ii) all Tax Returns are true, correct and complete in all material respects; and (iii) there are no liens
for Taxes upon Seller or its assets, except liens for current Taxes not yet due and payable. Seller has not granted any waiver
of any statute of limitations with respect to, or any extension of a period for the assessment of, any Taxes.

 

(b) Seller has withheld and paid to the
proper Taxing Authority all Taxes that it was required to withhold and pay, and has timely filed all information returns or reports,
including IRS Forms 1099 and W-2, that are required to be filed and has accurately reported all information required to be included
on such returns or reports.

 

(c) No governmental authority is conducting
or has proposed or threatened in writing to conduct an audit for any taxable year for which the statute of limitations has not
yet expired, and there is no administrative or judicial proceeding currently pending with respect to Taxes of Seller.

 

(d) Seller has collected all sales tax
in the Ordinary Course of Business and remitted such sales tax amount to the applicable Authority, or has collected sales tax exemption
certificates from all entities from which Seller does not collect sales tax.

 

3.19. Consents. Except as set
forth on Schedule 3.19, no consent, approval, or authorization of, or exemption by, or filing with, any Authority or other
Person is required to be obtained or made by Seller in connection with the execution, delivery, and performance by Seller or any
Shareholder of this Agreement, or any Ancillary Agreement to which Seller or any Shareholder or any Affiliate thereof is a party
or the taking by Seller of any other action contemplated hereby or thereby or the continuation by Buyer after the Closing of the
Business of Seller conducted prior to the Closing.

 

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3.20. Employee Relations.

 

(a) The Seller is not party to any management,
employment, consulting or other agreements or understandings with any individual providing for employment for a defined period
of time or on an other than “at-will” basis or for termination or severance benefits.

 

(b) Seller is not: (i) a party to or
otherwise bound by any collective bargaining or other type of union agreement, (ii) a party to, involved in or, to the knowledge
of Seller, threatened by, any material labor dispute or material unfair labor practice charge, or (iii) currently negotiating any
collective bargaining agreement, and Seller has not experienced any work stoppage during the last three years. To
the knowledge of Seller, no organizational effort is presently being made or is currently threatened by or on behalf of any labor
union with respect to any group of employees of the Seller.

 

(c) Seller has been and is in compliance
in all material respects with all applicable Laws respecting employment and employment practices, terms and conditions of employment
and wages and hours, unemployment insurance, worker’s compensation, equal employment opportunity, employment discrimination
and immigration control. There are no outstanding claims against Seller (whether under Law, regulation, Contract, policy or otherwise)
asserted by or on behalf of any present or former employee or job applicant of Seller on account of or for (i) overtime pay, other
than overtime pay for work done in the current payroll period, (ii) wages or salary for a period other than the current payroll
period, (iii) any amount of vacation pay (including paid time off) or pay in lieu of vacation time off (including paid time off),
other than vacation time off or pay (including paid time off) in lieu thereof earned in or in respect of the current fiscal year,
(iv) any amount of severance pay or similar benefits, (v) unemployment insurance benefits, (vi) workers’ compensation or
disability benefits, (vii) any violation of any statute, ordinance, order, rule or regulation relating to employment terminations,
layoffs, or discipline (viii) any violation of any statute, ordinance, order, rule or regulation relating to employee “whistleblower”
or “right-to-know” rights and protections, (ix) any violation of any statute, ordinance, order, rule or regulations
relating to the employment obligations of federal contractors or subcontractors (x) any violation of any regulation relating to
minimum wages or maximum hours of work or (xi) unfair labor practices, and Seller is not aware of any such claims which have not
been asserted. No Person (including any Authority) has asserted or threatened any claims against Seller or any of its predecessors
under or arising out of any regulation relating to equal opportunity employment, discrimination, harassment or occupational safety
in employment or employment practices.

 

(d) Seller has properly classified all
employees (including those individuals co-employed by a professional employer organization), leased employees, consultants, independent
contractors and all other Persons providing services to Seller for all purposes (including, without limitation, for all Tax purposes
and for purposes related to eligibility to participate in or accrue a benefit under the Benefit Plans), and has withheld and paid
all applicable Taxes and made all appropriate filings in connection with services provided by such Persons to Seller. Seller has
properly classified all employees as “exempt” or “non-exempt” under the Fair Labor Standards Act and similar
state or local Law.

 

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(e) All individuals who have provided
services to Seller as independent contractors have been properly classified as independent contractors under applicable legal tests,
rather than as employees of Seller, and Seller has no material liability with respect to the misclassification of any such individuals
since December 31, 2015. Seller does not owe to any current or former independent contractors of Seller any amounts for any period
other than the current payment period.

 

(f) Seller has not conducted any mass
layoffs or plant closings as defined by the Worker Adjustment and Retraining Notification Act of 1988, as amended, or any similar
state or local Law

 

3.21. Transactions with Related
Parties. Except as described in Schedule 3.21, no Shareholder, director, or officer of Seller, nor any Affiliate of
any such Person or of Seller, has or had:

 

(a) any contractual or other claims,
express or implied, of any kind whatsoever against Seller;

 

(b) any interest in any property or assets
used by Seller;

 

(c) any direct or indirect ownership
or other interest in any competitor of Seller; or

 

(d) engaged in any other material transaction
with Seller (other than employment relationships at the salaries disclosed in the Schedules).

 

Except as described in Schedule 3.21,
no Shareholder, director, or officer of Seller, nor any Affiliate of such Person, has outstanding any loan, guarantee or other
obligation of borrowed money made to or from Seller.

 

3.22. Insurance.

 

(a) Seller maintains, with financially
sound and reputable insurers, insurance with respect to its properties and Business against loss or damages of the kinds customarily
insured against by companies of established reputation engaged in the same or similar businesses as Seller (including potential
losses or damages resulting from the use of Seller’s products in the transportation of Hazardous Substances), in such amounts
that are commercially reasonable and customarily carried under similar circumstances by such other companies.

 

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(b) Schedule 3.22(b)(i) contains
a complete and correct list of all policies for insurance (including coverage amounts and expiration dates) of which Seller is
the owner, insured or beneficiary, or covering Seller’s properties or assets. All such policies are outstanding and in full
force and effect. Seller is not in default with respect to any provision contained in any such policy, nor has Seller failed to
give any notice or present any claim under any such policy in a timely fashion or in the manner or detail required by the policy.
Except as set forth on Schedule 3.22(b)(ii): (a) all of such coverages are provided on an “claims made” (as
opposed to “occurrence”) basis; (b) there are no outstanding claims under such policies; (c) there are no premiums
or claims due under such policies which remain unpaid; (d) no notice of cancellation or non-renewal with respect to, or disallowance
(other than reservation of rights by the insurer) of any material claim under, any such policy has been received; and (e) Seller
has not been refused any insurance, nor have any of its coverages been limited by any insurance carrier to which it has applied
for insurance or with which has carried insurance.

 

3.23. Brokers. Except as set
forth on Schedule 3.23, Seller has not retained any broker, finder or investment banking firm to act on their behalf in
connection with the transactions contemplated by this Agreement or the Ancillary Agreements and, to the knowledge of Seller, no
other Person is entitled to receive any brokerage commission, finder’s fee or other similar compensation in connection with
the transactions contemplated by this Agreement and the Ancillary Agreements.

 

3.24. Relationship with Significant
Customers. Seller has not received any written or oral communication or notice from any Significant Customer stating that,
or otherwise has any reason to believe that, any Significant Customer (a) has ceased, or will cease, to use the products or services
of Seller or, after the Closing, Buyer, (b) has substantially reduced, or will substantially reduce, the use of such products or
services at any time, or (c) will otherwise materially and adversely modify its business relationship with Seller or, after the
Closing, Buyer. “Significant Customer” means each customer of the Business, as conducted by Seller, that generated
ten percent (10%) or more of the dollar volume of sales of Seller during the first eleven months of 2019 and for each of the fiscal
years ended December 31, 2018 and December 31, 2017, as set forth on Schedule 3.24.

 

3.25. Relationship with Significant
Suppliers. Seller has not received any written or oral communication or notice from any Significant Supplier stating that,
or otherwise has any reason to believe that, any Significant Supplier, (a) will stop, materially decrease the rate of, or materially
and adversely change the terms (whether related to payment, price or otherwise) with respect to, supplying materials, products
or services to Seller or, after the Closing, Buyer (whether as a result of the consummation of the transactions contemplated hereby
or otherwise) or (b) will otherwise materially and adversely modify its business relationship with Seller or, after the Closing,
Buyer. “Significant Supplier” means the top 10 suppliers to the Business of Seller or its predecessors, by dollar
volume of purchase, for the first eleven months of 2019 and for each of the fiscal years ended December 31, 2018 and December 31,
2017, as set forth on Schedule 3.25.

 

3.26. Product Liability; Warranty.
Neither Seller nor any other Person has agreed to become or otherwise be responsible for consequential damages or, except as disclosed
in Schedule 3.26, made any express warranties to third parties with respect to any products created, manufactured, sold,
distributed or licensed, or any services rendered, by Seller since December 31, 2015. There are no design, manufacturing or other
defects, latent or otherwise, with respect to any such products. A copy of each standard warranty of Seller is included in Schedule
3.26. Seller has not modified or expanded its warranty obligation to any customer beyond that set forth in such standard warranties.
Except as disclosed in Schedule 3.26, there are no and since December 31, 2015 there have not been any material disputes
or controversies involving any customer, distributor, supplier or any other Person regarding the quality, merchantability or safety
of or defect in, or involving a claim of breach of warranty which has not been fully resolved with respect to, or involving a claim
for product liability damages (including damages resulting from pollution) directly or indirectly cause by, any product purchased,
manufactured or sold by Seller.

 

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3.27. Powers of Attorney. There are
no written powers of attorney in force given by Seller. No Person, as employee or agent of Seller or otherwise, holds powers of
attorney to act with respect to Seller or any of its assets.

 

Article
IV.

REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer hereby represents and warrants to Seller
as follows:

 

4.1. Organization. Buyer is a limited
liability company duly organized, validly existing, and in good standing under the laws of the State of Delaware, and has all requisite
power and authority to carry on its business as it is now being conducted, and to execute, deliver, and perform this Agreement
and each Ancillary Agreement to which it is a party, and to consummate the transactions contemplated hereby and thereby.

 

4.2. Authority. The execution, delivery,
and performance by Buyer of this Agreement, and each Ancillary Agreement to which Buyer is a party, and the consummation by Buyer
of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action on the part of
Buyer. This Agreement has been, and each Ancillary Agreement to which Buyer is a party will be at Closing, duly and validly executed
and delivered by Buyer and constitutes, or will constitute, the valid and binding obligation of Buyer, enforceable against Buyer
in accordance with its respective terms, except as such enforcement shall be limited by bankruptcy, insolvency, moratorium or similar
law affecting creditors’ rights generally and subject to general principles of equity.

 

Article
V.

COVENANTS

 

5.1. Confidentiality. Each party
shall, and shall cause its respective Affiliates and representatives to, keep confidential and not disclose to any other Person
or use for its or his own benefit or the benefit of any other Person any confidential proprietary information, technology, know-how,
trade secrets (including all customer lists), product formulas, industrial designs, franchises, inventions or other intellectual
property regarding Buyer, Seller, their respective Affiliates, or any of their respective businesses and operations (“Confidential
Information”) in its or his possession or control. The obligations of the parties under this Section 5.1 shall
not apply to Confidential Information which (i) is or becomes generally available to the public without breach of the commitment
provided for in this Section; or (ii) is required to be disclosed by Law; provided, however, that, in any such case, the
receiving party, as applicable, shall notify the disclosing party as early as reasonably practicable prior to disclosure to allow
the disclosing party to take appropriate measures to preserve the confidentiality of such Confidential Information.

 

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5.2. Non-Compete.

 

(a) Other than engaging in Competitive Activities
on behalf of Buyer and its Affiliates, during the period beginning on the Closing Date and ending on the fifth (5th)
anniversary of the Closing Date (the “Non-Compete Period”), Seller and each Shareholder covenant and agree not
to, and shall cause their respective Affiliates not to, directly or indirectly and anywhere in the Restricted Territory, conduct,
manage, operate, engage in, or have an ownership interest in any business or enterprise engaged in (i) the Business, (ii) any business
that uses any trademark, trade names or slogans similar to the “Potter’s Lawn & Landscaping” trademarks (including
any associated logos, designs or trade dress), trade names or slogans, or (iii) any activities that are otherwise similar to, or
competitive with, the Business (collectively, “Competitive Activities”). Competitive Activities are deemed to
exclude (i) the operation of that certain yard for waste and tree nursery owned and operated by Parklane Trees, Inc. located at
parcel 00-41-45-01-00-000-7440 in the county of Palm Beach, Florida; (ii) the operation of that certain 3 acre property (with Grant’s
house and nursery for agricultural use located thereon) owned and operated by Parkland Plants & Palms, Inc., located at 7360
NW 84 Avenue, Parkland, Florida 33067, in manner consistent with the operation as of the date hereof; and (iii) the ownership of
stock in any enterprise competitive with the Company or its Affiliates if the stock is publicly traded and the amount of stock
held is less than one percent (1%) of the outstanding capital stock of such competitive enterprise.

 

(b) Other than the Shareholders engaging in
Solicitation Activities on behalf of Buyer and its Affiliates, during the Non-Compete Period, Seller and each Shareholder shall
not, and shall cause their respective Affiliates not to, directly or indirectly, call-on, solicit or induce, or attempt to solicit
or induce, any past, present or prospective customer or other business relation of Buyer or Seller for the provision of products
or services related to the Business or in any other manner that would otherwise interfere with business relationships between Buyer
and its customers and other business relations (collectively, “Solicitation Activities”).

 

(c) Other than the Shareholders engaging in
Employee Solicitation on behalf of Buyer and its Affiliates, during the Non-Compete Period, Seller and each Shareholder shall not,
and shall cause their respective Affiliates not to, directly or indirectly, call-on, solicit or induce, or attempt to solicit or
induce, any employee or staff of Buyer to leave the employ of Buyer for any reason whatsoever, nor shall Seller or any Shareholder
offer or provide employment (whether such employment is for Seller or any other Person), either on a full-time basis or part-time
or consulting basis, to any Person who then currently is, or who within six months immediately prior thereto was, an employee of
or staffed with Buyer or Seller (collectively, “Employee Solicitation”).

 

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(d) Seller and each Shareholder acknowledge
and agree that the provisions of this Section 5.2 are reasonable and necessary to protect the legitimate business interests
of Buyer and its investment in the Acquired Assets. Neither Seller nor any Shareholder shall contest that Buyer’s remedies
at law for any breach or threat of breach by Seller or any Shareholder or any of their Affiliates of the provisions of this Section
5.2 will be inadequate, and that Buyer shall be entitled to an injunction or injunctions to prevent breaches of the provisions
of this Section 5.2 and to enforce specifically such terms and provisions, in addition to any other remedy to which Buyer
may be entitled at law or equity. The restrictive covenants contained in this Section 5.2 are covenants independent of any
other provision of this Agreement or any other agreement between the parties hereunder and the existence of any claim which Seller
or any may allege against Buyer under any other provision of the Agreement or any other agreement will not prevent the enforcement
of these covenants.

 

(e) If any of the provisions contained in
this Section 5.2 shall for any reason be held to be excessively broad as to duration, scope, activity or subject, then such
provision shall be construed by limiting and reducing it, so as to be valid and enforceable to the extent compatible with the applicable
Law or the determination by a court of competent jurisdiction.

 

5.3. Nondisparagement. Each party
agrees that it shall not, and shall cause each of its Affiliates not to, at any time, in any written or oral communications with
the press or other media, any customer, client, stakeholder, investor or supplier of the other parties, or their Affiliates, or
any other Person, criticize, ridicule, or make or encourage any other Person to make any statement that disparages, is derogatory
of, or is negative toward the personal or business reputation, conduct or practices of the other parties, any of their Affiliates,
or any of their then current or former respective officers, managers, employees, representatives, agents or attorneys.

 

5.4. Further Assurances.

 

(a) From time to time after the Closing, Buyer
shall, at the request of Seller, execute and deliver any further instruments or documents and take all such further action as Seller
may reasonably request in order to evidence the consummation of the transactions contemplated hereby. From time to time after the
Closing, Seller and each Shareholder shall, at the request of Buyer, execute and deliver any further instruments or documents and
take all such further action as Buyer may reasonably request in order to evidence the consummation of the transactions contemplated
hereby, including, but not limited to, assisting Buyer with obtaining consent to assignment of any Contract purchased from Seller
pursuant to this Agreement (including the Agreement for Landscape Maintenance Services RFP No. 09-04-19-09 between the City of
Coconut Creek and Seller, dated October 24, 2019, and the Client Service Agreement between Seller and MatrixOneSource, dated August
8, 2019.), and obtaining assignment of, or its own version of, any Permit.

 

(b) After the Closing, Seller and each Shareholder
shall promptly transfer or deliver to Buyer cash, checks (which shall be properly endorsed) or other property that Seller or any
Shareholder may receive in respect of any (i) deposit, prepaid expense, receivable or other item that constitutes part of the Acquired
Assets or relates to the Assumed Liabilities, and (ii) refunds for prepaid insurance premiums related to the Acquired Assets or
the Assumed Liabilities. After the Closing, Buyer shall promptly transfer or deliver to Seller cash, checks (which shall be properly
endorsed) or other property that Buyer may receive in respect of any item that is an Excluded Asset or relates to the Retained
Liabilities.

 

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5.5. Employee Matters.

 

(a) Effective as of immediately before the
Closing, Seller shall terminate all employees of the Business who are actively at work on the Closing Date. Buyer or its Affiliates
shall offer employment, on an “at will” basis, to any or all of such employees. Consistent with applicable Law, Seller
shall provide Buyer access to the personnel records and personnel files of such employees, and shall provide such other information
regarding their employees as Buyer may reasonably request. All such employees of Seller who accept such offers of employment with
Buyer or its Affiliates are hereinafter referred to as the “Transferred Employees” and such acceptance of offers
shall be effective immediately after the Closing. Each Transferred Employee shall be entitled to participate in all of Buyer’s
employee benefit plans in accordance with the terms of those plans, to the same extent and in the same manner as new employees
of Buyer.

 

(b) With respect to any benefit plans, programs,
and arrangements of Buyer in which Transferred Employees participate after the Closing, Buyer shall use commercially reasonable
efforts to: (i) waive all limitations as to pre-existing conditions, exclusions and waiting periods with respect to participation
and coverage requirements applicable to Transferred Employees under Buyer’s health and welfare plans to the extent such limitations
were waived or otherwise satisfied under the comparable Benefit Plans, (ii) recognize all service of Transferred Employees
with Seller for purposes of eligibility to participate (but not benefit accruals), but only to the extent such service would be
taken into account under a comparable Benefit Plan immediately prior to the Closing and (iii) provide that, with respect to
the year in which the Closing occurs, any year-to-date covered expenses incurred on or before the Closing by a Transferred Employee
or a Transferred Employee’s covered dependent shall be taken into account for purposes of satisfying applicable deductible,
coinsurance and maximum out-of-pocket provisions after the Closing under Buyer’s health and welfare plans.

 

(c) Seller shall be solely responsible for
any Liability, claim or expense with respect to employment, termination of employment, compensation or employee benefits of any
nature owed to any current or former employee, officer, manager, member, partner or independent contractor of Seller or any ERISA
Affiliate (or the beneficiary of any such individual) whether or not such individual becomes a Transferred Employee, that arises
out of or relates to the provision of services to or on behalf of, or the employment relationship between, Seller or any ERISA
Affiliate and any such individual or the termination of such relationship or provision of services on or before the Closing Date.
Without limiting the foregoing, (i) Seller shall be responsible for the payment of any severance payment or benefits that become
due to any current or former employee, officer, manager, member, partner or independent contractor as a result of the termination
of such individual by Seller or any ERISA Affiliate and (ii) notwithstanding any other provision in this Agreement or in an Assumed
Contract, Seller shall be responsible for all legally mandated health care continuation coverage for their, and their ERISA Affiliates’,
current and former employees (and their qualified beneficiaries) who had or have a loss of coverage due to a “qualifying
event” (within the meaning of Section 603 of ERISA) which occurred or occurs on or prior to the Closing Date including, without
limitation, any loss of coverage that results directly or indirectly from the transactions contemplated by this Agreement.

 

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(d) The provisions of this Section 5.5
are for the benefit of the parties to this Agreement only and shall not be construed to grant any rights, as a third party beneficiary
or otherwise, to any Person who is not a party to this Agreement, nor shall any provision of this Agreement be deemed to be the
adoption of, or an amendment to, any employee benefit plan, as that term is defined in Section 3(3) of ERISA, or otherwise to limit
the right of Buyer or Seller to amend, modify or terminate any such employee benefit plan. In addition, nothing contained herein
shall be construed to (i) prohibit any amendments to or termination of any employee benefit plans or (ii) prohibit the
termination or change in terms of employment of any employee (including any Transferred Employee). Nothing herein, expressed or
implied, shall confer upon any employee (including any Transferred Employee) any rights or remedies (including, without limitation,
any right to employment or continued employment for any specified period) of any nature or kind whatsoever, under or by reason
of this Agreement.

 

5.6. Use of Name. In furtherance
of the purchase and sale of the Acquired Assets hereunder, promptly following Closing (and in no event later than 30 days after
the Closing Date) the Shareholders shall cause Seller (and, upon the request of Buyer, any Affiliate of Seller) to change its legal
name to a name completely dissimilar to “Potter’s Professional Lawn Care” and “Potter’s Lawn &
Landscaping”, and thereafter Seller and its Affiliates shall not adopt, use, cause to be used, or approve or sanction the
use of such names, or any name so similar as to cause confusion therewith. After the Closing, upon the request of Buyer, Seller
and its Affiliates shall file such other documents as may be necessary to terminate Seller’s or its Affiliate’s use
of any related trade name or assumed name and to permit Buyer to use such names or variations thereof.

 

5.7. Truck Title. In furtherance
of the purchase and sale of the Acquired Assets hereunder, promptly following Closing (and in no event later than 30 days after
the Closing Date) Grant shall transfer title to the certain Ford F-150 truck used in the operation of the Seller’s Business.

 

Article
VI.

TAX MATTERS

 

6.1. Allocation. Within 90 days after
the Closing, Buyer shall prepare and deliver to Seller the allocation (“Allocation”) of the Closing Consideration
among the Acquired Assets sold by Seller (and the non-competition agreement described in Section 5.2) in a manner that is
consistent with the principles set forth on Schedule 6.1, which Allocation shall be available for Seller’s review
and comment for thirty (30) days. Buyer, Seller and each Shareholder agree to report, as and when required, the Allocation among
the Acquired Assets in a manner consistent with such Allocation in the preparation and filing of all Tax Returns (including IRS
Form 8594). The Allocation shall be adjusted to reflect any debits made to the Holdback Balance pursuant to Section 7.5,
as applicable, in accordance with the applicable provisions of Section 1060 of the Code (and any similar provision of state, local
or foreign Law, as appropriate), as determined by the mutual written consent of Buyer and Seller.

 

6.2. Transfer Taxes. Sales taxes,
transfer taxes, stamp taxes, conveyance taxes, intangible taxes, documentary recording taxes, license and registration fees, recording
fees and any similar taxes or fees imposed by any Authority, if any, imposed upon the transfer of the Acquired Assets hereunder
and the cost of preparing and filing of any instruments (the “Transfer Taxes”) shall be split between Buyer
and Seller with 60% being paid by Buyer and the remaining 40% being paid by Seller. Buyer shall be responsible for the actual filing
of any Tax Returns required to be filed. Buyer and Seller shall cooperate with each other in any mutually agreeable, reasonable
and lawful arrangement designed to minimize any applicable Transfer Taxes.

 

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6.3. Wage Reporting. Buyer and Seller
agree to utilize the standard procedure set forth in Revenue Procedure 2004-53 with respect to wage reporting.

 

6.4. Cooperation on Tax Matters.
Buyer, Seller, and each Shareholder agree to furnish or cause to be furnished to each other, upon request, as promptly as is practicable,
such information and assistance relating to Seller and the Acquired Assets (including without limitation access to books and records)
as is reasonably necessary for the filing of all Tax Returns, the making of any election relating to Taxes, the preparation for
any audit by any Taxing Authority, and the prosecution or defense of any claim, suit or proceeding relating to any Tax. Buyer and
Seller shall retain all books and records with respect to Taxes for any period up to and including the Closing Date, pertaining
to Seller and the Acquired Assets, for at least seven years following the Closing Date. At the end of such period, each party shall
provide the others with at least 30 days’ prior written notice before destroying such books and records, during which period
the party receiving such notice can elect to take possession, at its own expense, of such books and records.

 

Article
VII.

SURVIVAL AND INDEMNIFICATION

 

7.1. Survival. The covenants and
agreements in this Agreement or in any Ancillary Agreement shall survive the Closing. The representations and warranties under
this Agreement or in any Ancillary Agreement shall survive until the second anniversary of the Closing Date; provided, however,
that (i) the representations and warranties set forth in Section 3.1 (Organization), Section 3.2 (Authority), Section
3.4 (Capitalization), Section 3.5 (Subsidiaries), Section 3.8(a) (Title, Condition and Sufficiency of Assets),
Section 3.18 (Taxes), Section 3.23 (Brokers), Section 4.1 (Organization) and Section 4.2 (Authority)
(collectively, the “Fundamental Representations”), shall survive the Closing without limitation; and (ii) the
representations and warranties set forth in Section 3.16 (Environmental Matters) and Section 3.17 (Employee Benefit
Matters), shall survive the Closing for the full period of all applicable statutes of limitations (giving effect to any waiver,
mitigation or extension thereof) plus 60 days. No action or claim for Losses resulting from any misrepresentation or breach of
warranty shall be brought or made after the expiration of the survival period applicable to such representation or warranty (as
provided in this Section), except that such time limitation shall not apply to claims which have been asserted and which are the
subject of a written notice from Seller to Buyer or from Buyer to Seller, as may be applicable, prior to the expiration of such
survival period. Any reference to the “applicable statute of limitations” means the longer of (i) the statute of limitations
governing any claims or potential claims by a Person related to the subject matter of a specific representation and warranty and
(ii) the statute of limitations applicable to a claim for breach of contract in the making of any such representation or warranty.

 

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7.2. General Indemnification.

 

(a) Subject to the limitations in Section
7.2(c), Seller and each Shareholder shall, jointly and severally, indemnify, defend and hold harmless Buyer and its members,
managers, stockholders, directors, officers, Affiliates, employees, agents and representatives (collectively, the “Buyer
Indemnified Parties”), from and against all Losses that are incurred or suffered by any of them in connection with or
resulting from each of the following:

 

(i) any misrepresentation or breach of,
or inaccuracy in, any representation or warranty made by Seller or the Shareholders in this Agreement or any Ancillary Agreement;

 

(ii) any breach of any covenant made by
Seller or the Shareholders in this Agreement or any Ancillary Agreement;

 

(iii) the Retained Liabilities;

 

(iv) any matters identified on Schedule
7.2(a)(iv); or

 

(v) the enforcement by Buyer Indemnified
Parties of any indemnification rights under this Agreement.

 

(b) Subject to the limitations in Section
7.2(c), Buyer shall indemnify, defend and hold harmless Seller, each Shareholder, and their respective agents and representatives
(collectively, the “Seller Indemnified Parties”) from and against all Losses that are incurred or suffered by
any of them in connection with or resulting from each of the following:

 

(i) any misrepresentation or breach of any
representation or warranty made by Buyer in this Agreement or any Ancillary Agreement;

 

(ii) any breach of any covenant made by
Buyer in this Agreement or any Ancillary Agreement;

 

(iii) any Assumed Liability; provided that
there shall be no indemnification under this Section 7.2(b) for any Losses for which Buyer is entitled to indemnification
pursuant to Section 7.2(a); or

 

(iv) the enforcement by Seller Indemnified
Parties of their indemnification rights under this Agreement.

 

(c) Notwithstanding the foregoing and subject
to the proviso at the end of this paragraph and the terms of this Article VII, (i) Seller and the Shareholders shall not be obligated
to provide any indemnification for Losses pursuant to claims (other than Third Party Claims) for breaches of representations and
warranties (other than Fundamental Representations) under Section 7.2(a)(i) unless the aggregate amount of Losses incurred
by Buyer Indemnified Parties with respect to such breaches of representations and warranties exceeds $13,700 (the “Threshold”),
in which case Seller and the Shareholders will be liable for all Losses without regard to the Threshold, and (ii) Buyer shall not
be obligated to provide any such indemnification for Losses pursuant to claims (other than Third Party Claims) for breaches of
representations and warranties (other than Fundamental Representations) under Section 7.2(b)(i), unless the aggregate amount
of Losses incurred by Seller Indemnified Parties with respect to such breaches of representations and warranties exceeds the Threshold,
in which case Buyer will be liable for all Losses without regard to the Threshold. The maximum aggregate obligation of (i) Seller
and Shareholders for Losses pursuant to claims for breaches of representations and warranties (other than Fundamental Representations)
under Section 7.2(a)(i) shall not exceed $478,000 (the “Cap”), and (ii) Buyer for Losses pursuant to
claims for breaches of representations and warranties (other than Fundamental Representations) under Section 7.2(b)(i),
shall not exceed the Cap. Neither the Threshold nor the Cap shall apply to Losses arising in respect of claims for misrepresentations
and breach of the Fundamental Representations.

 

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(d) In no event shall the limitations set
forth in Section 7.2(c) apply to Losses suffered or incurred by any Indemnified Party as a result of, or arising out of,
(A) the matters set forth in Sections 7.2(a)(ii) through 7.2(a)(v), or 7.2(b)(ii) through (iv), or
(B) any fraud or intentional misrepresentation by a party.

 

(e) The representations and warranties in
this Agreement and the Ancillary Agreements shall not be affected or diminished by, and no right of indemnification hereunder shall
be limited by reason of any investigation or audit conducted before or after the Closing or the knowledge of any party of any breach
of a representation, warranty, covenant or agreement by the other party at any time, or the decision of any party to complete the
Closing.

 

(f) For purposes of determining the existence
of any misrepresentation or breach of warranty, and calculating the amount of any Losses incurred in connection with any such misrepresentation
or breach of warranty, any and all references to material or Material Adverse Effect (or other correlative terms) shall be disregarded.

 

7.3. Process for Indemnification.

 

(a) A party entitled to indemnification hereunder
shall herein be referred to as an “Indemnified Party.” A party obligated to indemnify an Indemnified Party hereunder
shall herein be referred to as an “Indemnifying Party.” As soon as is reasonable after an Indemnified Party
either (i) receives notice of any claim or the commencement of any action by any third party which such Indemnified Party reasonably
believes may give rise to a claim for indemnification from an Indemnifying Party hereunder (a “Third Party Claim”)
or (ii) sustains any Loss not involving a Third Party Claim or action which such Indemnified Party reasonably believes may give
rise to a claim for indemnification from an Indemnifying Party hereunder, such Indemnified Party shall, if a claim in respect thereof
is to be made against an Indemnifying Party under this Article VII, notify such Indemnifying Party in writing of such claim, action
or Loss, as the case may be; provided, however, that failure to notify Indemnifying Party shall not relieve Indemnifying
Party of its indemnity obligation, except to the extent Indemnifying Party is actually prejudiced in its defense of the action
by such failure. Any such notification must be in writing and must state in reasonable detail the nature and basis of the claim,
action or Loss, to the extent known. Except as provided in this Section 7.3, Indemnifying Party shall, at its sole expense,
have the right to retain counsel acceptable to the Indemnified Party, to contest, defend, litigate or settle any such Third Party
Claim which involves (and continues to involve) solely monetary damages; provided that the Indemnifying Party shall have
notified the Indemnified Party in writing of its intention to do so within 15 days of the Indemnified Party having given notice
of the Third Party Claim to the Indemnifying Party; provided, further, that (1) the Indemnifying Party expressly
agrees in such notice to the Indemnified Party that, as between the Indemnifying Party and the Indemnified Party, the Indemnifying
Party shall be solely obligated to fully satisfy and discharge the Third Party Claim subject to the limitations with respect to
indemnification included in this Agreement; (2) the Third Party Claim is not, in the reasonable judgment of the Indemnified Party,
likely to result in Losses that will exceed the Cap; (3) if reasonably requested to do so by the Indemnified Party, the Indemnifying
Party shall have made reasonably adequate provision to ensure the Indemnified Party of the financial ability of the Indemnifying
Party to satisfy the full amount of any adverse monetary judgment that may result from such Third Party Claim; (4) assumption by
the Indemnifying Party of such Third Party Claim could not reasonably be expected to cause a material adverse effect on the Indemnified
Party’s business , and (5) the Indemnifying Party shall diligently contest the Third Party Claim (the conditions set forth
in clauses (1), (2), (3), (4) and (5) being collectively referred to as the “Litigation Conditions”). The Indemnified
Party shall have the right to participate in, and to be represented by counsel (at its own expense) in any such contest, defense,
litigation or settlement conducted by the Indemnifying Party; provided, that the Indemnified Party shall be entitled to
reimbursement therefor if the Indemnifying Party shall lose its right to contest, defend, litigate and settle the Third Party Claim
or if representation of the Indemnifying Party and the Indemnified Party by the same counsel would, in the reasonable opinion of
such counsel, constitute a non-waivable conflict of interest under applicable standards of professional conduct. The Indemnifying
Party shall not be entitled, or shall lose its right, to contest, defend, litigate and settle the Third Party Claim if the Indemnified
Party shall give written notice to the Indemnifying Party of any objection thereto based upon the Litigation Conditions.

 

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(b) The Indemnifying Party, if it shall have
assumed the defense of any Third Party Claim as provided in this Agreement, shall not consent to a settlement of, or the entry
of any judgment arising from, any such Third Party Claim without the prior written consent of the Indemnified Party (which consent
shall not be unreasonably withheld or delayed). The Indemnifying Party shall not, without the prior written consent of the Indemnified
Party, enter into any compromise or settlement which commits the Indemnified Party to take, or to forbear to take, any action or
which does not provide for a complete release by such third party of the Indemnified Party. The Indemnified Party shall have the
sole and exclusive right to settle any Third Party Claim, on such terms and conditions as it deems reasonably appropriate, to the
extent such Third Party Claim involves equitable or other non-monetary relief. All expenses (including attorneys’ fees) incurred
by the Indemnifying Party directly related to the foregoing shall be paid by the Indemnifying Party. No failure by an Indemnifying
Party to acknowledge in writing its indemnification obligations under this Article VII shall relieve it of such obligations to
the extent such obligations exist.

 

(c) If an Indemnified Party is entitled to
indemnification against a Third Party Claim, and the Indemnifying Party fails to accept a tender of, or assume the defense of,
a Third Party Claim pursuant to this Section 7.3, the Indemnifying Party shall not be entitled, and shall lose its right,
to contest, defend, litigate and settle such a Third Party Claim, and the Indemnified Party shall have the right, without prejudice
to its right of indemnification hereunder, in its discretion exercised in good faith, to contest, defend and litigate such Third
Party Claim, and may settle such Third Party Claim either before or after the initiation of litigation, at such time and upon such
terms as the Indemnified Party deems fair and reasonable, provided that at least ten (10) days prior to any such settlement,
written notice of its intention to settle is given to the Indemnifying Party. If, pursuant to this Section 7.3, the Indemnified
Party so contests, defends, litigates or settles a Third Party Claim for which it is entitled to indemnification hereunder, the
Indemnified Party shall be reimbursed on a monthly basis by the Indemnifying Party for the reasonable attorneys’ fees and
other expenses of contesting, defending, litigating and/or settling the Third Party Claim which are incurred from time to time.

 

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7.4. Mitigation; Insurance.

 

(a) Any Indemnified Party shall mitigate Losses
relating to a claim under this Article VII to the extent required by Law.

 

(b) All Losses sought by Indemnified Party
hereunder shall be net of any insurance proceeds actually received by Indemnified Party with respect to such indemnification claim
(net of any increase or retroactive premiums and costs of recovery). If any such proceeds are received by an Indemnified Party
(or any of its Affiliates) with respect to any Losses after an Indemnifying Party has made a payment to the Indemnified Party with
respect thereto, the Indemnified Party (or such Affiliate) shall promptly pay to the Indemnifying Party the amount of such proceeds,
benefits or recoveries (up to the amount of the Indemnifying Party’s payment).

 

7.5. Holdback.

 

(a) If Seller or a Shareholder becomes obligated
to make any payment to any Buyer Indemnified Party pursuant to this Article VII prior to the date that is twenty-four (24) months
after the Closing Date (the “Holdback Release Date”) and when the Holdback Balance is greater than zero (0),
such payment shall first be debited to the Holdback Balance until the Holdback Balance equals zero (0); provided, however, that
the terms of this Section 7.5 shall not apply to limit any amounts owned in excess of the Holdback Balance or after the
Holdback Release Date.

 

(b) On the Holdback Release Date, Buyer shall
release and pay to Seller the Holdback Balance, subject to retention of any amount equal to the amount of any indemnification claim
made by any Buyer Indemnified Party that is unresolved as of the Holdback Release Date (which retained amount shall be released
and paid to the applicable party upon final resolution of all such unresolved claims).

 

7.6. Right of Surrender. Without
limiting any other remedies available at law or in equity, any amounts owing from Seller or a Shareholder pursuant to this Article
VII may, at the election of Buyer, be paid by causing Seller or a Shareholder, to the extent a Shareholder is holder of such securities
at such time, to surrender that number of securities of ANC Potter’s issued to Seller in exchange for the Contributed Assets
pursuant to the Contribution Agreement, with each such security valued at fair market value, as reasonably determined by the Board
of Managers of ANC Potter’s acting in good faith.

 

7.7. Remedies Exclusive. The remedies
provided in this Article VII shall be the sole and exclusive remedies of any Indemnified Party related to any and all Losses incurred
because of or resulting from or arising out of this Agreement and any Ancillary Agreements; provided, however, that nothing
contained in this Article VII shall be deemed to limit or restrict in any manner (a) any rights or remedies which any Indemnified
Party has, or might have, at law or in equity based on fraud or intentional misrepresentation, or (b) any Person’s right
to seek and obtain any equitable relief to which any Person shall be entitled.

 

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7.8. Tax Treatment. Any indemnification
payments under this Article VII and all debits to the Holdback Balance pursuant to Section 7.5 shall be treated for Tax
purposes as adjustments to the Final Closing Consideration to the extent permitted by applicable Law.

 

Article
VIII.

MISCELLANEOUS

 

8.1. Interpretive Provisions.

 

(a) Whenever used in this Agreement, (i) “including”
(or any variation thereof) means including without limitation and (ii) any reference to gender shall include all genders.

 

(b) The parties acknowledge and agree that
(i) each party and its counsel have reviewed the terms and provisions of this Agreement and have contributed to its drafting, (ii)
the normal rule of construction, to the effect that any ambiguities are resolved against the drafting party, shall not be employed
in the interpretation of it, and (iii) the terms and provisions of this Agreement shall be construed fairly as to all parties hereto
and not in favor of or against any party, regardless of which party was generally responsible for the preparation of this Agreement.

 

8.2. Entire Agreement. This Agreement
(including the Schedules and the exhibits attached hereto) together with the Ancillary Agreements constitute the sole understanding
and agreement of the parties with respect to the subject matter hereof. The parties agree and acknowledge that as of the Closing
Date, the letter of intent dated August 28, 2019 by and between Andover National Corporation and Seller is terminated.

 

8.3. Successors and Assigns. The
terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns
of the parties hereto; provided however, that this Agreement may not be assigned by Seller or any Shareholder without the
prior written consent of Buyer, and any sale by either Shareholder of an equity interest in Seller shall be deemed an assignment
for the purposes of this Agreement.

 

8.4. Headings. The headings of the
Articles, Sections, and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part
of this Agreement or to affect the construction hereof.

 

8.5. Modification and Waiver. No
amendment, modification, or alteration of the terms or provisions of this Agreement shall be binding unless the same shall be in
writing and duly executed by the parties hereto, except that any of the terms or provisions of this Agreement may be waived in
writing at any time by the party that is entitled to the benefits of such waived terms or provisions. No single waiver of any of
the provisions of this Agreement shall be deemed to or shall constitute, absent an express statement otherwise, a continuous waiver
of such provision or a waiver of any other provision hereof (whether or not similar). No delay on the part of any party in exercising
any right, power, or privilege hereunder shall operate as a waiver thereof.

 

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8.6. Expenses. Except as otherwise
expressly provided herein, each of the parties hereto shall bear the expenses incurred by that party incident to this Agreement
and the transactions contemplated hereby, including all fees and disbursements of counsel and accountants retained by such party,
whether or not the transactions contemplated hereby shall be consummated.

 

8.7. Notices. Any notice, request,
instruction, or other document to be given hereunder by any party hereto to any other party shall be in writing and shall be given
by delivery in person, by electronic mail, by electronic facsimile transmission, by overnight courier or by registered or certified
mail, postage prepaid (and shall be deemed given when delivered if delivered by hand, when transmission confirmation is received
if delivered by facsimile during normal business hours, when delivered if delivered by electronic mail, one Business Day after
deposited with an overnight courier service if delivered by overnight courier and three days after mailing if mailed), as follows:

 

to Seller, to:

 

Potter’s Professional
Lawn Care, Inc.

1270
SW 8th Street

Boca
Raton, FL 33486

Email: nina@potterslawn.com

 

with a copy to:

 

Brinkley Morgan

100 Southeast Third Ave

23rd Floor

Fort Lauderdale, Florida 33394

Attn: Mark Levy, Esq.

Email: mark.levy@brinkleymorgan.com

 

to a Shareholder, as applicable,
to:

 

Nina Potter Fernandez

1270 SW 8th Street

Boca
Raton, FL 33486

Email: nina@potterslawn.com

 

Grant Potter

7860
NW 84th Avenue

Parkland,
FL 33067

Email: trainingwithpotter@gmail.com

 

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to Buyer to:

 

Potter’s Professional
Lawn Care, LLC

c/o Andover National Corporation

333 Avenue of the Americas

Suite 2000,

Miami, FL 33131-2185

Attn: Jeffrey C. Piermont,
Vice President

Email: jcp@andovernational.com

 

with a copy to:

 

Harter Secrest & Emery
LLP

1600 Bausch & Lomb Place

Rochester, NY 14604

Attention: Mario Fallone, Esq.

Email: mfallone@hselaw.com

 

or at such other address for a party as shall be specified by
like notice.

 

8.8. Governing Law; Consent to Jurisdiction.
This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware applicable to agreements
made and to be performed wholly within that jurisdiction. Each party hereto, for itself and its successors and assigns, irrevocably
agrees that any suit, action or proceeding arising out of or relating to this Agreement may be instituted only in the United States
District Court located in Wilmington, Delaware or in the absence of jurisdiction, the state courts located in the Wilmington, Delaware,
and generally and unconditionally accepts and irrevocably submits to the exclusive jurisdiction of the aforesaid courts and irrevocably
agrees to be bound by any final judgment rendered thereby from which no appeal has been taken or is available in connection with
this Agreement. Each party, for itself and its successors and assigns, irrevocably waives any objection it may have now or hereafter
to the laying of the venue of any such suit, action or proceeding, including any objection based on the grounds of forum non conveniens,
in the aforesaid courts. Each of the parties, for itself and its successors and assigns, irrevocably agrees that all process in
any such proceedings in any such court may be effected by mailing a copy thereof by registered or certified mail (or any substantially
similar form of mail), postage prepaid, to it at its address set forth in Section 8.7 or at such other address of which
the other parties shall have been notified in accordance with the provisions of Section 8.7, such service being hereby acknowledged
by the parties to be effective and binding service in every respect. Nothing herein shall affect the right to serve process in
any other manner permitted by law.

 

8.9. Public Announcements. None of
Seller or any Shareholder shall make any public statements, including any press releases, with respect to this Agreement and the
transactions contemplated hereby without the prior written consent of Buyer (which consent shall not be unreasonably withheld)
except as may be required by law. If a public statement is required to be made by law, the parties shall consult with each other
in advance as to the contents and timing thereof.

 

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8.10. No Third Party Beneficiaries.
This Agreement is intended and agreed to be solely for the benefit of the parties hereto and their permitted successors and assigns,
and no other party shall be entitled to rely on this Agreement or accrue any benefit, claim, or right of any kind whatsoever pursuant
to, under, by, or through this Agreement.

 

8.11. Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original and all of which
shall constitute the same instrument.

 

8.12. Delivery by Facsimile and Email.
This Agreement and any amendments hereto, to the extent signed and delivered by means of a facsimile machine or by electronic mail,
shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.
No party hereto shall raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature
or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense
to the formation or enforceability of this Agreement and each such party forever waives any such defense.

 

Article
IX.

CERTAIN DEFINITIONS

 

9.1. The following terms shall have the
following meanings:

 

“Accounting Methods” means
GAAP, applied in a manner consistent with Seller’s historical accounting methods, principles and practices, including with
respect to the preparation of the Financial Statements.

 

“Affiliate” means, with
respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled
by, or is under common control with, such first Person.

 

“ANC Solutions” means Andover
Environmental Solutions, LLC, a Delaware limited liability company.

 

“Ancillary Agreement” means
any agreement, exhibit, schedule, statement, document or certificate executed or delivered in accordance with, in connection with
or required by this Agreement, and any other agreement or certificate specifically identified as an Ancillary Agreement for purposes
of this Agreement.

 

“Authority” means the United
States of America or any other nation, any state or other political subdivision thereof, or any entity, agency, court or authority
(foreign, federal, state or local) exercising executive, legislative, judicial, regulatory or administrative functions of government
or any arbitrator or mediator.

 

“Balance Sheet Date” means
December 31, 2018.

 

“Base Amount” means $1,680,000.

 

    40

     

    

 

“Books and Records” means
all of the books and records, in all formats (both tangible and intangible), used or maintained by or on behalf of Seller in connection
with or otherwise related to the Business, including (a) executed copies of all of the written Assumed Contracts, if any,
and written descriptions of any oral Assumed Contracts, if any, (b) copies of all Contracts relating to the engagement of or the
performance of services by the clients and customers of the Business, (c) all equipment, product and other warranties pertaining
to the Acquired Assets, (d) all technical information and any data, maps, computer files, diagrams, blueprints and schematics,
(e) all filings made with or records required to be kept by any Governmental Authority (including all backup information on
which such filings are based) including Tax Returns that relate to the Business, (f) all research and development reports,
(g) all equipment and operating logs, (h) all financial and accounting records, (i) all employment records, and (j) all
creative, promotional or advertising materials

 

“Business Data” means all
business information and personally identifying information and data (whether of employees, contractors, consultants, customers,
clients, consumer or other Persons and whether in electronic or any other form or medium) that is accessed, collected, used, processed,
stored, shared, distributed, transferred, disclosed, destroyed, or disposed of by Seller.

 

“Business Day” means any
day other than a day on which banks in the State of New York are required or authorized to be closed.

 

“Cash” means, as of any
applicable time of determination, Seller’s actual cash (bank) balances, cash equivalents (including cash on hand and deposits
in transit), which shall be reduced by any Restricted Cash, and marketable securities (net of any breakage costs that would be
incurred in connection with the liquidation thereof), in each case, determined in accordance with GAAP applied on a basis consistent
with the accounting principles and policies used in the preparation of the Interim Balance Sheet.

 

“Closing Indebtedness”
means the Indebtedness as set forth on the Closing Statement.

 

“Closing Transaction Expenses”
means the Transaction Expenses as set forth on the Closing Statement.

 

“Closing Working Capital”
means the Working Capital of Seller as set forth on the Closing Statement.

 

“Code” means the Internal
Revenue Code of 1986, as amended.

 

“Contract” means any written
or oral contract, lease, license, loan or credit agreement, bond, debenture, note, mortgage, indenture, supply agreement, sale
or purchase order, or any other binding agreement, commitment, arrangement or understanding.

 

“control” (including the
terms “controlled by” and “under common control with”) means the possession, directly or indirectly or
as trustee or executor, of the power to direct or cause the direction of the management or policies of a Person, whether through
the ownership of stock, as trustee or executor, by contract or credit arrangement or otherwise;

 

    41

     

    

 

“Data Security Requirements”
means, collectively, all of the following to the extent relating to Data Treatment or otherwise relating to privacy, security or
security breach notification requirements and applicable to Seller, any IT Systems or any Personal Information: (i) Seller’s
own rules, policies, and procedures; (ii) all Laws applicable to Seller; (iii) industry standards applicable to the industry in
which Seller operates; and (iv) Contracts to which Seller is a party or otherwise subject.

 

“Data Treatment” means the access, collection,
use, processing, storage, sharing, distribution, transfer, disclosure, security, destruction or disposal of Personal Information.

 

“Encumbrances” means all
liens, charges, mortgages, pledges, security interests or other encumbrances of any kind.

 

“Environmental Laws” means
all foreign, federal, state and local laws, rules, regulations, ordinances, codes, common law, judgments, orders, consent agreements,
legally-binding requirements, work practices, standards and norms relating to (i) the protection of the environment (including
air, surface and subsurface water, drinking water supplies, surface and subsurface land, the interior of any building or building
component, soil and natural resources) or human health (including without limitation occupational health and safety) or (ii) Hazardous
Substances.

 

“Environmental Liabilities”
means any and all losses, claims, demands, Liabilities, causes of action, damages, costs and expenses, fines or penalties (including
without limitation attorney fees and other defense costs), known or unknown, foreseen or unforeseen, whether contingent or otherwise,
fixed or absolute, present or future asserted against or incurred by Buyer arising out of or related to (a) any environmental condition
first existing or occurring on or prior to the Closing Date or resulting from facts, circumstances or events first existing or
occurring on or prior to the Closing Date, including without limitation, (i) the presence, disposal, discharge, release or other
handling or management of, or exposure to, Hazardous Substances at, on, in or under any the Leased Real Property or property now
or previously owned, operated, leased or otherwise used by Seller in connection with the Business or the Acquired Assets (including,
for the avoidance of doubt, any post-Closing migration, movement or continuing discharge, disposal or release of, or exposure to,
any Hazardous Substances first present, discharged, disposed or released on or prior to the Closing Date), or (ii) the off-site
or on-site transportation, storage, treatment, recycling, other handling, discharge, disposal or release of Hazardous Substances
by or on behalf of Seller or any Person under their control in connection with the Business or the Acquired Assets; (b) any violation
of, or Liability under, any Environmental Law or any Environmental Permit first existing or occurring prior to the Closing Date
(including without limitation costs and expenses incurred or required to bring the Leased Real Property, Business or Acquired Assets
into compliance with all applicable Environmental Laws and Environmental Permits and any fines, penalties and defense costs incurred
by Buyer) with respect to the Business, the Acquired Assets, the Leased Real Property or any property now or previously owned,
operated, leased or otherwise used by Seller in connection with the Business or the Acquired Assets; or (c) any environmental condition
or any violation of, or liability under, Environmental Laws or Environmental Permits with respect to the Leased Real Property that
arise out of, relate to, or result from (i) any acts or omissions of Seller or its Affiliate or any other Person under their control
after the Closing Date or (ii) the ownership of the Leased Real Property after the Closing Date.

 

    42

     

    

 

“ERISA Affiliate” means
any Person, trade or business (whether or not incorporated) that is treated as a single employer with Seller under Section 414
of the Code.

 

“Estimated Closing Consideration”
means an amount equal to the total of (a) the Base Amount, minus (b) the amount, if any, by which Estimated Working Capital
is less than Target Working Capital, plus (c) the amount, if any, by which Estimated Working Capital is greater than Target
Working Capital, minus (d) the Estimated Indebtedness, minus (e) the Estimated Transaction Expenses.

 

“Estimated Indebtedness”
means the Indebtedness as set forth on the Estimated Closing Statement.

 

“Estimated Transaction Expenses”
means the Transaction Expenses as set forth on the Estimated Closing Statement.

 

“Estimated Working Capital”
means the Working Capital of Seller as set forth on the Estimated Closing Statement.

 

“Final Closing Consideration”
means an amount equal to the total of (a) the Base Amount, minus (b) the amount, if any, by which Final Working Capital
is less than Target Working Capital, plus (c) the amount, if any, by which Final Working Capital is greater than Target
Working Capital, minus (d) the Final Indebtedness minus (e) the Final Transaction Expenses.

 

“Final Indebtedness” means
the Closing Indebtedness, (x) as shown in the Closing Statement if no Notice of Disagreement with respect thereto is duly and timely
delivered pursuant to Section 1.3 or (y) if such a Notice of Disagreement is so delivered, as agreed by Seller and Buyer
pursuant to Section 1.3 or (z) if such Notice of Disagreement is so delivered and in the absence of such agreement, as shown
in the Arbiter’s calculation delivered pursuant to Section 1.3.

 

“Final Working Capital”
means the Closing Working Capital, (x) as shown in the Closing Statement if no Notice of Disagreement with respect thereto
is duly and timely delivered pursuant to Section 1.3 or (y) if such a Notice of Disagreement is so delivered, as agreed
by Seller and Buyer pursuant to Section 1.3 or (z) if such Notice of Disagreement is so delivered and in the absence of
such agreement, as shown in the Arbiter’s calculation delivered pursuant to Section 1.3.

 

“Final Transaction Expenses”
means the Closing Transaction Expenses, (x) as shown in the Closing Statement if no Notice of Disagreement with respect thereto
is duly and timely delivered pursuant to Section 1.3 or (y) if such a Notice of Disagreement is so delivered, as agreed
by Seller and Buyer pursuant to Section 1.3 or (z) if such Notice of Disagreement is so delivered and in the absence of
such agreement, as shown in the Arbiter’s calculation delivered pursuant to Section 1.3.

 

    43

     

    

 

“GAAP” means United States
generally accepted accounting principles consistently applied throughout the relevant periods.

 

“Hazardous Substances”
means any and all hazardous or toxic substances, materials, and wastes, solid wastes, industrial wastes, pollutants, contaminants,
polychlorinated biphenyls, asbestos, volatile and semi-volatile organic compounds, oil, petroleum products and fractions thereof,
radioactive materials and wastes, and any and all other chemicals, substances, materials and wastes regulated under Environmental
Laws.

 

“Holdback Amount” means
$137,000 plus the Purchase Price Adjustment Holdback Amount.

 

“Holdback Balance” means,
as of any date, the Holdback Amount, minus (x) the amount of any Third Party Claims (or portion thereof) satisfied by a
debit against the Holdback Balance according to Section 7.5(a) minus (y) all amounts previously released from the Holdback
Balance according to Section 1.3.

 

“Indebtedness” means all
principal, interest, premiums, penalties or other Liabilities related to (a) all indebtedness of Seller for borrowed money, including
shareholder loans, (b) all obligations (contingent or otherwise) of Seller for the deferred purchase price of property or services
(other than trade accounts payable in the Ordinary Course of Business) (including notes payable to the sellers of such property
or services), (c) all other obligations of Seller evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness
created or arising under any conditional sale or other title retention agreement with respect to property acquired by Seller, (e)
all obligations of Seller as lessee or lessees under leases that have been or should be, in accordance with GAAP, recorded as capital
leases, (f) all obligations, contingent or otherwise, of Seller under acceptance, letter of credit or similar facilities, (g) all
obligations owing pursuant to factoring agreements for accounts receivable, (h) all obligations in respect of unfunded pensions,
(i) all Indebtedness of the type referred to in clauses (a) through (h) above guaranteed directly or indirectly in any manner by
Seller , or in effect guaranteed directly or indirectly by Seller through an agreement (w) to pay or purchase such Indebtedness
or to advance or supply funds for the payment or purchase of such Indebtedness, (x) to purchase, sell or lease (as lessee or lessor)
property, or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment of such Indebtedness
or to assure the holder of such Indebtedness against loss, (y) to supply funds to or in any other manner invest in the debtor (including
any agreement to pay for property or services irrespective of whether such property is received or such services are rendered)
or (z) otherwise to assure a creditor against loss; provided, that such Indebtedness referred under this clause (i) is of the type
that would be reflected as debt on a balance sheet prepared in accordance with GAAP, (j) all Indebtedness of the type referred
to in clauses (a) through (i) above secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any lien on property (including accounts and Contract rights) owned by Seller, even though such
Person has not assumed, become liable for or guaranteed the payment of such Indebtedness, (k) all liabilities of the Seller under
or in connection with any accrued bonuses, deferred compensation bonuses and accrued paid-time off that have been or should be
accrued, in accordance with GAAP, (including all related Taxes, including the employer’s share of any payroll Taxes attributable
to such amounts and any amounts payable pursuant to Section 280G of the Code (or any corresponding provision of Law) or to offset
or gross-up any Person for any excise Taxes, income Taxes or other Taxes related to such amounts), (l) any unfunded capital expenditures
committed to by Seller or any deferred capital expenditures, (m) all accrued but unpaid interest (or interest equivalent) to the
date of determination, and all prepayment premiums or penalties payable upon repayment of any items of Indebtedness of the type
referred to in clauses (a) through (j) above. Notwithstanding the preceding sentence, Indebtedness shall not include the Equipment
Financing.

 

    44

     

    

 

“knowledge”, “to
the knowledge” or “known” and words of similar import means the actual knowledge of a natural person
or, with respect to a Person that is not a natural person, the actual knowledge of the shareholders, directors, officers and management
of such Person, after due inquiry.

 

“Laws” means any federal,
state or local law (including, without limitation, principles of common law), statute, ordinance, regulation, Permit, certificate,
judgment, order, award or other determination, decision or requirement of any Authority.

 

“Liability(ies)” means
liabilities, obligations or commitments of any nature whatsoever, asserted or unasserted, known or unknown, absolute or contingent,
accrued or unaccrued, matured or unmatured or otherwise.

 

“Losses” means any and
all losses, Liabilities, damages (including punitive damages), diminution in value, penalties, obligations, awards, fines, deficiencies,
demands, interest, claims (including third party claims whether or not meritorious), costs and expenses whatsoever (including reasonable
attorneys’, consultants’ and other professional fees and disbursements of every kind, nature and description) resulting
from, arising out of or incident to any matter for which indemnification is provided under this Agreement; provided, that Losses
shall not include punitive damages unless payable to third parties.

 

“Material Adverse Effect”
means any circumstance or event which, individually or in the aggregate with any other circumstance or event, is or could be reasonably
expected to be material and adverse to the business, properties, operations, condition (financial or otherwise), or results of
operations of Seller taken as a whole. For purposes of this definition of Material Adverse Effect, the effect of any matter as
to any past period shall be determined based on its actual effect, and its effect as to any future period shall be determined based
on the effect that such matter is reasonably likely to have.

 

“Ordinary Course of Business”
means, with respect to Seller, the ordinary course of business consistent with Seller’s past custom and practice (including
with respect to quantity and frequency).

 

“Permitted Encumbrances”
means (i) statutory liens for Taxes not yet due and payable or the validity or amount of which is being contested in good faith
by appropriate proceedings and for which adequate reserves have been established on the Interim Financial Statements in accordance
with GAAP; and (ii) mechanics’, carriers’, workers’, repairers’ and other similar liens arising or
incurred in the ordinary course of business and securing sums that are not yet due and payable or the validity or amount of which
is being contested in good faith by appropriate proceedings, and for which adequate reserves have been established on the Interim
Financial Statements in accordance with GAAP and do not otherwise constitute a breach of or an event of default under any Lease.

 

    45

     

    

 

“Person” means an individual,
corporation, partnership, association, limited liability company, trust, unincorporated organization, other entity or group (as
group is defined in Section 13(d)(3) of the Securities Exchange Act of 1934).

 

“Personal Information”
means such term or like terms set forth in any Law that describes, covers or defines data that identifies or can be used to identify
individuals or that is otherwise regulated, protected or covered by any Law.

 

“Purchase Price Adjustment Holdback
Amount” means $9,884.

 

“Restricted Cash” means
cash deposits, cash in reserve accounts, cash escrow accounts, custodial cash and cash otherwise subject to any legal or contractual
restriction on the ability to freely transfer or use such cash for any lawful purpose, in each case, determined in accordance with
GAAP applied on a basis consistent with the accounting principles and policies used in the preparation of the Interim Balance Sheet.

 

“Restricted Territory”
means any territory within a 200-mile radius of any of the facilities of ANC Solutions and its Affiliates set forth on Schedule
9.1(a) hereto.

 

“Schedule(s)” means the disclosure schedules
attached hereto and made a part hereof.

 

“Seller Product” means
all products and services (including products and services under development) made commercially available, distributed, sold or
licensed out by or on behalf of Seller.

 

“Shareholder” means each
of Nina and Grant.

 

“Target Working Capital”
means $98,839.

 

“Tax” means (i) all federal,
state, local or non-U.S. income taxes (including any tax on or based upon net income, or gross income, or income as specially defined,
or earnings, or profits, or selected items of income, earnings, or profits) and all gross receipts, estimated, sales, use, ad valorem,
transfer, registration, value added, franchise, license, social security, unemployment, disability, withholding, payroll, employment,
excise, severance, stamp, occupation, premium, real property, windfall profit , personal property, environmental, alternative or
add-on minimum, custom duties, estimated or any other taxes, fees, assessments, or charges of any kind whatsoever, whether computed
on a separate or consolidate, unitary or combined basis or in any other manner, together with any interest and any penalties, additions
to tax or additional amounts and (ii) any obligation to indemnify or otherwise assume or succeed to any Liability described in
clause (i) hereof of any other Person whether by Contract or under common law doctrine of de facto merger and successor liability
or otherwise.

 

    46

     

    

 

“Tax Return” means any
return, report, information return or other document (including any related or supporting information or any amended return) filed
or required to be filed with any Taxing Authority or other authority in connection with the determination, assessment, or collection
of any Tax paid or payable or the administration of any laws, regulations, or administrative requirements relating to any such
Tax.

 

“Transaction Expenses”
means (without duplication), the collective amount payable by, or liabilities of Seller or any Shareholder that were incurred by
Seller or such Shareholder (if any) to outside legal counsel, accountants, advisors, brokers and other Persons in connection with
the transactions contemplated by this Agreement or otherwise arising by consummation of the transactions contemplated hereby, including
one hundred percent (100%) of the costs and expenses of obtaining any third party consents (including customer consents), forty
percent (40%) of the Transfer Taxes and other taxes, fees and charges described in Section 6.2, and one hundred percent
(100%) of the filing fees incurred by Seller in connection with any filing by Seller with a Governmental Authority.

 

“Working Capital” means
the excess of (i) the sum of Seller’s current  assets (including Cash) determined in accordance with the Accounting
Methods applied on a basis consistent with the accounting principles and policies used in the preparation of the Interim Balance
Sheet, over (ii) the sum of Seller’s current liabilities determined in accordance with the Accounting Methods applied on
a basis consistent with the accounting principles and policies used in the preparation of the Interim Balance Sheet. A sample calculation
of Working Capital is set forth on Schedule 9.1(b) and Working Capital shall be calculated in a manner consistent therewith.

 

9.2. Other Definitions. Each
of the following terms is defined in the Section set forth opposite such term:

 

	“Acquired Assets”	1.1(a)
	“Acquired Receivables”	3.10(a)
	“Agreement”	Preamble
	“Allocation”	6.1
	“ANC Potter’s”	1.1(b)
	“Arbiter”	1.3(d)
	“Assumed Contracts”	1.1(a)(v)
	“Assumed Liabilities”	1.1(d)
	“Benefit Plan”	3.17(a)
	“Bill of Sale”	1.1(d)
	“Business”	Recitals
	“Business Vehicles”	3.8(c)
	“Buyer”	Preamble
	“Buyer Indemnified Parties”	7.2(a)
	“Cash-Purchased Assets”	1.1(a)
	“Cap”	7.2(c)
	“Closing”	2.1
	“Closing Consideration”	1.2(b)
	“Closing Date”	2.1

 

    47

     

    

 

	“Closing Statement”	1.3(a)
	“Competitive Activities”	5.2(a)
	“Confidential Information”	5.1
	“Contribution Agreement”	1.1(b)
	“Contributed Assets”	1.1(b)
	“Effective Time”	2.1
	“Employee Solicitation”	5.2(c)
	“Environmental Documents”	3.16(f)
	“Environmental Permits”	3.16(a)
	“Equipment Financing”	1.1(d)(iii)
	“ERISA”	3.17(a)
	“Estimated Closing Statement”	1.2(a)
	“Excluded Assets”	1.1(c)
	“Financial Statements”	3.6
	“Fundamental Representations”	7.1
	“Grant”	2.2(a)(v)
	“Grant Employment Agreement”	2.2(a)(iv)
	“Holdback Release Date”	7.5(a)
	“Indemnified Party”	7.3(a)
	“Indemnifying Party”	7.3(a)
	“Intellectual Property”	3.12(a)
	“Interim Balance Sheet”	3.6
	“Interim Balance Sheet Date”	3.6
	“Interim Financial Statements”	3.6
	“IRS”	3.17(b)
	“IT Systems”	3.12(b)
	“Lease Agreements”	2.2(a)(vi)
	“Leases”	3.9(b)
	“Leased Real Property”	3.9(b)
	“Litigation”	3.14
	“Litigation Conditions”	7.3(a)
	“Material Contracts”	3.13(a)
	“Material Owned Intellectual Property”	3.12(a)
	“Nina”	2.2(a)(iii)
	“Nina Employment Agreement”	2.2(a)(iii)
	“Non-Compete Period”	5.2(a)
	“Notice of Disagreement”	1.3(c)
	“Permits”	3.15
	“Retained Liabilities”	1.1(e)
	“Seller”	Preamble
	“Seller Indemnified Parties”	7.2(b)
	“Shareholder(s)”	Recitals
	“Significant Customer”	3.24
	“Significant Supplier”	3.25
	“Solicitation Activities”	5.2(b)
	“Taxing Authority”	3.18(a)
	“Third Party Claim”	7.3(a)
	“Threshold”	7.2(c)
	“Transferred Employees” 	5.5(a)
	“Transfer Taxes”	6.2

 

[Signature page follows.]

 

    48

     

    

 

IN WITNESS WHEREOF, each of the parties
hereto has caused this Agreement to be executed on its behalf as of the date first above written.

 

	 	POTTER’S PROFESSIONAL LAWN CARE, LLC
	 	 	 
	 	By:	/s/ Jeffrey C. Piermont
	 	Name:	Jeffrey C. Piermont
	 	Title:	Vice President
	 	 
	 	POTTER’S PROFESSIONAL LAWN CARE, INC.
	 	 	 
	 	By:	/s/ Nina Potter Fernandez
	 	Name:	Nina Potter Fernandez
	 	Title:	President
	 	 
	 	/s/ Nina Potter Fernandez
	 	Nina Potter Fernandez, individually
	 	 
	 	/s/ Grant Potter
	 	Grant Potter, individually

 

[Signature Page to Asset Purchase and Contribution
Agreement]

 

    49

     

    

 

EXHIBIT A

 

Contribution Agreement

 

 

     

     

    

 

EXHIBIT B

 

Bill of Sale

 

 

     

     

    

 

EXHIBIT C

 

Nina Employment Agreement

 

 

     

     

    

 

EXHIBIT D

 

Grant Employment Agreement

 

 

     

     

    

 

EXHIBIT E-1

 

Lease Agreement for 366 SW 14 Ave, Pompano
Beach, FL 33069

 

 

     

     

    

 

EXHIBIT E-2

 

Lease Agreement for 377 SW 14 Ave, Pompano
Beach, FL 33069Exhibit 10.4

   

LICENSE
AGREEMENT

 

THIS
LICENSE AGREEMENT (“Agreement”) is made and entered into as of this 18th day of July 2019, between
Sterling/Winters Company, a California Corporation DBA: Tommy Meharey MIVITM LLC (“Licensor”), and, Samsara
Luggage Inc., which is currently in process of merging with Publicly Traded Darkstar Ventures Inc. [OTC: DAVC] (“Licensee”),
as follows:

 

WITNESSETH:

 

WHEREAS,
Tommy Meharey (“Mr. Meharey”) is an internationally famous man and designer with a highly favorable public image and
strong brand identity: and a strong portfolio of multiple brands and ambassadors, also with a highly favorable public image and
strong brand identi1y.

 

WHEREAS,
Licensor has the right and authority to license certain registered trademarks and rights to the name, likeness, and visual representation
of Mr. Meharey and such name, likeness, and visual representation being well known and recognized by the general public and associated
in the public mind with Licensor.

 

WHEREAS,
Licensor is the owner, by assignment, of the name. nick name, image, likeness, initials, mark, appearance, signature (including
reproduced signature), autograph, endorsement, voice, and biographical material (including history, video and motion picture film
portrayals, and still photography), Internet domain names and online social media user/screen names of Mr. Meharey and has developed
and used intellectual property and is engaged in the licensing of the property identified in the attached Exhibit A (hereinafter,
with the MIVITM LLC, (collectively referred to as the “Licensed Marks”);”, the “Licensed Property”
or the “Brand”):

 

WHEREAS,
Licensee is a manufacturer and seller of Aluminum Smart Hi-tech Luggage, and desires to use the Licensed Marks, as specifically
defined in Paragraph 1.1 below, in connection with the manufacture, sale, and distribution of the Licensed Products, as specifically
defined in Paragraph 1.6 below, subject to the terms and conditions provided herein; and

 

WHEREAS,
in addition to agreeing to Licensee’s use of the Licensed Marks, Licensor wishes to cooperate with Licensee in order to
develop, promote, and expand recognition of the Licensed Marks image for the mutual benefit of Licensor, Licensee, and Licensee’s
customers;

 

WHEREAS,
Licensee agrees to fully comply with Licensor Human Rights – Code of Conduct, EXHIBIT C and,

 

WHEREAS,
Licensee will fully adopt, as well as meaningfully contribute to, the following Millennium Development Goal(s) (all of which are
attached hereto as Exhibit D and incorporated herein by reference): 8. Build Global Partnerships for development (“Licensee
Millennium Development Goal(s)”), and

  

    	 	 
-1-
	Initials: _______
 Initials: _______

     

    

 

NOW,
THEREFORE, in consideration of the mutual promises herein contained, it is hereby agreed:

 

1.
DEFINITIONS

 

		1.1	The
                                         term “Brand” shall mean the Licensed Products offered under the Licensed
                                         Marks.

 

		1.2	The
                                         term “Allowance” or “Allowances” shall mean any
                                         reductions in the wholesale sales price of any Licensed Product by promotional off-invoice
                                         amounts or accruals which are directly reflected in Licensee’s written vendor agreement(s)
                                         with the specific retailer customer to which the Allowance applies.

 

		1.3	The
                                         term “MIVITM LLC Corporate Headquarters” shall mean Rancho Mirage,
                                         CA., 92270

 

		1.4	The
                                         term “Channels of Distribution” shall mean only those channels, which
                                         are listed on Exhibit B attached hereto and incorporated by reference herein.
                                         Exhibit B may only be modified, supplemented, and/or amended by written agreement
                                         of the Parties as provided herein.

 

		1.5	The
                                         term “Licensed Marks” shall mean only those of Tommy Meharey’s
                                         name, likeness, visual representation and/or each of the individual components thereof,
                                         and those trademarks, service marks, logos, designs, and/or any other symbols/devices,
                                         which are set forth in Exhibit A attached hereto and incorporated by reference
                                         herein.

 

		1.6	The
                                         term “Licensed Products” shall mean only those items, which are listed
                                         in Exhibit B attached hereto. Exhibit B may only be modified, supplemented,
                                         and/or amended by written agreement of the Parties as provided herein.

 

		1.7	The
                                         term “Manufacturing Territory” shall mean China.

 

		1.8	The
                                         term “Sales Territory” shall mean the North America, additional territories
                                         as approved by Licensor.

 

		1.9	The
                                         term “Net Sales” shall mean the gross invoice amount billed (exclusive
                                         of any and all sales, Value Added Tax (“VAT”), Handling charges and
                                         restocking fees excise, local privilege or any other taxes collected from customers and
                                         owed or actually paid by Licensee to any government entity and exclusive of any and all
                                         shipping and handling charges, in all cases) to customers purchasing or receiving Licensed
                                         Products from Licensee, less Allowances, and less Trade Discounts for Licensed Products
                                         given to wholesale customers actually shown on the invoices and actually given to the
                                         customers (except cash discounts, which are not deductible in the calculation of Royalty)
                                         and, further, less any bona fide Returns actually made or allowed, or credits actually
                                         issued in lieu of Returns of the Licensed Products, as supported by credit memoranda
                                         actually issued to wholesale customers (subject to the pricing provisions of Section
                                         5.1). No other costs incurred in the manufacturing, selling, advertising, and/or distribution
                                         of the Licensed Products shall be deducted

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		1.10	The
                                         term “Parties” and/or “Party” shall mean Licensor
                                         and/or Licensee.

   

		1.11	The
                                         term “Returns” shall mean any Licensed Product, which Licensee accepts
                                         back from any customer after purchase and delivery thereof and for which Licensee refunds
                                         the actual purchase price or issues a credit memo.

 

		1.12	The
                                         term “Termination Date” shall mean the date, whichever is earliest,
                                         that (i) this Agreement (subject to any renewals or extensions) expires by its own
                                         terms; (ii) is thirty (30) days after receipt of notice of termination under Section
                                         22; or (iii) any other event occurs which terminates this Agreement where no notice
                                         is required.

 

		1.13	The
                                         term “Trade Discounts” shall mean any reductions or charge backs in
                                         the wholesale sales price of any Licensed Product, and actually granted by Licensee in
                                         writing to any customer prior to delivery.

 

		1.14	The
                                         term “Initial Term” shall mean the period of time from the Effective
                                         Date through and including July 11, 2022.

 

		1.15	The
                                         term “Contract Year 1” shall mean the period of time from the Effective
                                         Date through and including July 11, 2020.

 

		1.16	The
                                         term “Contract Year 2” shall mean the period of time from July 12,
                                         2020 through and including July 11, 2021.

 

		1.17	The
                                         term “Contract Year 3” shall mean the period of time from July 12,
                                         2021 through and including July 11, 2022.

 

		1.18	The
                                         term “Royalty” or “Royalties” shall have that meaning
                                         set out in Paragraph 5.1 below.

 

		1.19	The
                                         term “Term” shall mean the Initial Term plus any extensions, renewals
                                         of this Agreement or modifications thereof.

 

 

		1.20	The
                                         term “Minimum Royalty Guarantee” shall have the meaning set out in
                                         Paragraph 5.10 below.

 

		1.21	The
                                         term “Minimum Net Sales” shall have that meaning set out in Paragraph
                                         3.9 below.

 

		1.22	The
                                         term “Business Plan” shall mean a merchandise strategy and business
                                         plan for the Brand, including any supporting brands set forth in Exhibit A.

 

		1.23	The
                                         term “Effective Date” shall mean July 12, 2019.

  

    	 	 
-3-
	Initials: _______
 Initials: _______

     

    

 

2.
GRANT OF LICENSE

 

		2.1	Upon
                                         the terms and conditions set forth herein, Licensor hereby grants to Licensee the exclusive,
                                         non-transferable right, license, and privilege, and Licensee hereby accepts the exclusive,
                                         non-transferable right, license, and privilege, of using the Licensed Marks for the sale,
                                         marketing and distribution of the Licensed Products through the Channels of Distribution
                                         in the Territory during the Term (with the exceptions as stated on Exhibit B), and the
                                         nonexclusive, nontransferable right, license, and privilege of using the Licensed Marks
                                         solely upon and in connection with the manufacture of Licensed Products in the Manufacturing
                                         Territory.

  

		2.2	Licensee
                                         agrees that it will not distribute or sell, nor authorize anyone else to distribute or
                                         sell, the Licensed Products bearing the Licensed Marks outside of the Territory or the
                                         Channels of Distribution, and that it will not knowingly sell Licensed Products bearing
                                         the Licensed Marks to persons who intend to distribute or sell the Licensed Products
                                         outside of the Territory or the Channels of Distribution.

 

		2.3	During
                                         the Term, Licensor agrees that it will not authorize others to distribute or sell the
                                         Licensed Products bearing the Licensed Marks in the Channels of Distribution in the Territory.
                                         Licensee acknowledges that Licensor may continue to license the Licensed Marks and related
                                         marks to others to develop and promote other lines apart from the Licensed Products in
                                         the Channels of Distribution in the Territory during the Term.

 

		2.4	All
                                         proposed Channels of Distribution and distribution outlets in Exhibit B shall
                                         be submitted in advance to Licensor and shall be subject to Licensor’s prior written
                                         approval.

 

		2.5	Licensee
                                         may not assign or sub-license the use of the Licensed Marks to any third party without
                                         prior written approval by Licensor, and such right is expressly withheld from this Agreement.
                                         In the event that Licensor approves a sub-license to a third party, the Parties shall
                                         mutually agree upon the terms and conditions of said sub-license, including without limitation
                                         the minimum royalty guarantee and royalty rate, in a separate writing signed by the Parties.

 

		2.6	Licensee
                                         may use sub-contractors to manufacture and/or package Licensed Products, however, such
                                         products shall only be for sale to Licensee or Licensee’s customers as sub-contractor
                                         of Licensee. Prior to producing Licensed Products, all such sub-contractors must be approved
                                         by Licensor in writing (including being audited for compliance with local laws and the
                                         Approved Code of Conduct, if Licensor requires, such audit results being satisfactory
                                         to Licensor in its sole discretion), Such sub-contractors must agree to be bound by the
                                         same terms and conditions as is Licensee under this Agreement, and Licensee must execute
                                         a Sub-Contractor Agreement, confirming the foregoing, copies of which will be provided
                                         to Licensor. Licensee will ensure that any sub-contractors will comply with all local
                                         laws regarding compensation, workplace conditions and worker ages. Licensee shall ensure
                                         that Licensor or any third-party auditors designated by Licensor shall have full access
                                         to sub-contractor’s production facilities and dormitories, and Licensor shall not
                                         be required to give Licensee any notice prior to a visit of any audit team. Licensee
                                         ensures that sub-contractors will allow Licensor or third-party auditors access to their
                                         payroll and employee records for the purpose of verifying compliance with local laws
                                         and the Approved Code. Licensee shall bear all costs of audits. Further, Licensee and
                                         all sub-contractors must conform to Licensor’s code of conduct or any other specific
                                         code of conduct adopted by Licensor from time to time. Licensor may withdraw its consent
                                         and approval of any sub-contractor at any time at the sole discretion of Licensor. Licensor’s
                                         approved code of conduct is attached as Exhibit C and incorporated by reference
                                         herein (the “Approved Code”). If Licensee or any of its sub-contractors
                                         are not in compliance with local laws or the Approved Code, Licensor, in its sole discretion,
                                         may terminate this Agreement.

 

    	 	 
-4-
	Initials: _______
 Initials: _______

     

    

 

		2.7	The
                                         name and address of any manufacturer or sub-contractor, other than Licensee, chosen to
                                         manufacture the Licensed Products as permitted under this Agreement and all items related
                                         thereto, including without limitation labels, hang tags, and packaging, shall be disclosed
                                         to Licensor and approved by Licensor in writing prior to production of the Licensed Products
                                         and items related thereto. The Parties further agree to have meaningful consultation
                                         prior to the selection and use of said sub-contractors, vendors, and/or manufacturers.
                                         Licensor’s approval of sub-contractors proposed by Licensee shall be in the sole
                                         discretion of the Licensor.

 

		2.8	During
                                         the life of this Agreement, Licensee shall only sell, distribute and market Licensed
                                         Products bearing the Licensed Marks in the Channels of Distribution, and Licensee shall
                                         not conduct any other business in the Channels of Distribution other than the sale, distribution
                                         and marketing of the Licensed Products bearing the Licensed Marks, unless consented to
                                         in writing by the Licensor, such consent to be given by Licensor in its sole discretion.

 

		2.9	.

 

3.
BRAND DEVELOPMENT

  

		3.1	Licensee
                                         will work diligently to conduct market research and design support and to develop a merchandise
                                         strategy and business plan for the Brand, including all supporting brands set forth in
                                         Exhibit A (Licensed Property). Licensee shall submit the Business Plan to
                                         Licensor for its review and approval within ninety (90) days of the Effective Date of
                                         this Agreement. The Parties shall work in good faith to craft a Business Plan that shall
                                         best promote and benefit the Brand

 

		3.2	Licensee
                                         will develop a long-term strategic plan for, any and all, launch(es) of the Brand in
                                         the Channels of Distribution and Territory which shall be subject to the approval of
                                         the Licensor, such approval may not be unreasonably withheld (the “Launch Plan”).
                                         If Licensee has not launched, in a meaningful manner any Licensed Product into any Channels
                                         of Distribution or Territory under the Brand by December 1, 2019, (the outside date)
                                         Licensor may terminate this Agreement. If Licensee fails to launch the brand into agreed
                                         channels of distribution and territory within six (6) months of the agreed date for each
                                         Channel of Distribution and territory, under the brand, (but never later than the outside
                                         date), and if Licensor has not agreed otherwise, in writing, then Licensor may delete
                                         and remove any channels within the channels of distribution and any Territories, from
                                         this agreement where Licensed products have not been launched, per the launch plan and
                                         this provision. The Launch Plan must include every licensed product and every Licensed
                                         Territory.

  

    	 	 
-5-
	Initials: _______
 Initials: _______

     

    

 

		3.3	Licensee
                                         will begin shipping of Licensed Products A.S.A.P., however no later than December 1,
                                         2019.

 

		3.4	Licensee
                                         will work diligently to develop a strategic 3-year sales growth plan.

 

		3.5	

   

		3.6	Licensee
                                         agrees that all designs, colors and names of Licensed Products are proprietary
                                         to Licensor. More specifically, Licensor shall own all intellectual property rights in
                                         the Licensed Products and Related Materials and in all sketches, artwork and/or designs
                                         for the Licensed Products and the Related Materials, at no cost to Licensor and to the
                                         extent Licensee has any rights in such intellectual property, Licensee agrees to assign
                                         and does hereby assign to Licensor (or any person or entity designated by Licensor) all
                                         of its right, title and interest in and to such products and materials.

  

	PERIOD	 	MINIMUM
    NET SALES
	Contract
    Year 1	 	$
	Contract
    Year 2	 	$
	Contract
    Year 3	 	$
	Contract
    Year 4	 	$
	Contract
    Year 5	 	$

   

		3.7	Licensee
                                         will make best efforts to meet the following minimum totals of Net Sales of Licensed
                                         Products for the specified periods:

 

    	 	 
-6-
	Initials: _______
 Initials: _______

     

    

 

		3.8	

 

		3.9	In
                                         addition, if any particular product category of the Licensed Products does not increase
                                         at least ten percent (10%) in total gross sales above the total gross sales for the prior
                                         year, the Licensor may at any time, in its sole discretion, remove that product category
                                         from the list of Licensed Products and delete that category from the license granted
                                         to Licensee hereunder.

  

		3.10	Licensee
                                         will promptly provide to Licensor any color, trend or forecast information it obtains.

 

		3.11	Licensee
                                         agrees to become a member of Send Out Cards within 30 days of the execution of this agreement.  
                                         Licensee will use Send Out Cards as a powerful marketing tool to help communicate our
                                         Partnership and promote sales.  Please contact 310-557-2700 ext.193 for all
                                         information, prior to signing up with Send Out Cards.

 

		3.12	Licensee
                                         agrees to become a member and utilize Salesforce.com, Dependable Solutions a product
                                         approval and royalty reports service. Ireland® pay, a credit card process
                                         service or any similar web platform as may be utilized by Licensor from time to time
                                         as a means of conducting Brand business and coordinating with Licensor and other licensees

 

		3.13	At
                                         no time may Licensee’s sales of Licensed Products in the Discount and Better Off-Price
                                         Channel of Distribution account for more than twenty percent (20%) of Licensee’s
                                         total Net Sales.

   

4
TERMS

 

		4.1	The
                                         term of the license hereby granted shall commence on the date of execution (the effective
                                         Date”) and shall be effective through July 31, 2022, unless terminated sooner in
                                         accordance with the provisions hereof.

 

		4.2	Licensee
                                         shall have an option to renew this Agreement for an additional term of (5) five years
                                         and it shall be renewed, expiring on July 31, 2027, only so long as the following conditions
                                         are met:

 

		i)	This
                                         Agreement has not been terminated for any reason prior to the expiration of the Initial
                                         Term;

 

		ii)	At
                                         least twelve (12) months prior the expiration of the Initial Term, Licensee tenders a
                                         written notice to Licensor of its intent to exercise the option to renew the Agreement;

 

		iii)	Licensee
                                         is in full compliance with this Agreement, including but not limited to all Minimum Guaranteed
                                         Royalty requirements and the Minimum Net Sales requirements through the expiration of
                                         the Initial Term; and,

 

		iv)	By
                                         March 1, 2021, the Parties have agreed to the Marketing Fees, Minimum Guaranteed Royalty
                                         and any Minimum Net Sales requirements for the renewal term.

 

		4.3	The
                                         period during which the Agreement is in full force and effect shall be the Term.

  

    	 	 
-7-
	Initials: _______
 Initials: _______

     

    

 

5
ROYALTY AND PAYMENT

 

		5.1	In
                                         consideration of the grant hereunder, Licensee shall pay Licensor royalties in U.S. dollars
                                         at a rate of Ten percent (10%) of the Net Sales for all Licensed Products sold under
                                         the Licensed Marks. Licensee further agrees to use its best efforts to increase its sales
                                         of the Licensed Products during each year of the Term. If any sales of Licensed Products
                                         are made in currencies aside from the U.S. dollar, then Royalty payments for those sales
                                         shall still be made in U.S. Dollars and shall be based on the equivalent amount in local
                                         currency calculated on the basis of the exchange rate stated in New York edition of the
                                         Wall Street Journal on the last calendar day of the applicable calendar month.

 

		5.2	

 

		5.3	

 

		5.4	Licensee’s
                                         Royalty obligation shall accrue upon the sale or distribution, and each distribution
                                         of each Licensed Product. Licensee’s Royalty obligation for sales shall accrue
                                         upon the sale of each Licensed Product, regardless of the time of collection by Licensee
                                         and pursuant to Section 1.9 above. Such an item shall be considered “sold”
                                         when it is billed, invoiced, delivered, transferred to a customer or shipped, whichever
                                         occurs first. If Licensee distributes or sells any Licensed Product to any affiliated
                                         or related party at an amount that is less than Licensee’s lowest wholesale price
                                         charged in arms-length sales to other parties, the Royalty shall be computed at Licensee’s
                                         lowest wholesale price charged in like arms-length sales to non-affiliated third parties.

   

		5.5	If
                                         the payment of funds to Licensor in any country is blocked from export out of any country
                                         in the Manufacturing Territory (“Blocked Funds”), such payment either
                                         may be held by Licensee, or, at the election of Licensor, deposited in an interest-bearing
                                         escrow banking or other interest-bearing escrow account, in Licensee’s name on
                                         behalf of Licensor in the blocking country (if permitted by local law) or may be removed
                                         from such country and paid to Licensor, subject to whatever restrictions, limitations,
                                         and/or taxes may be imposed by the government of such county upon such Blocked Funds.
                                         In the event of any such blockage, Licensor and Licensee shall cooperate in seeking an
                                         equitable solution. If no such solution is quickly attained, Licensor may require Licensee
                                         to, or Licensee may voluntarily upon notice to Licensor, terminate Licensee’s marketing
                                         and sale of Licensed Products in such blocked country, and this Agreement shall be deemed
                                         amended accordingly.

 

		5.6	Within
                                         fifteen (15) days after the end of each month, Licensee shall furnish to Licensor a complete
                                         sales and royalty report certified to be accurate by the Chief Financial Officer of Licensee
                                         or by some other authorized designee of Licensee showing the number, description, and
                                         Net Sales Price of the Licensed Products distributed and/or sold by Licensee during the
                                         preceding month, as well as the number of Licensed Products in inventory at the beginning
                                         and end of the month. For this purpose, Licensee shall use the approved report form by
                                         Licensor. Such report shall be furnished to Licensor whether or not any of the Licensed
                                         Products have been sold during the preceding month. Licensee shall tender both hard copy
                                         sales and royalty report and sales in royalty report in Excel spreadsheet format to Licensor.
                                         Sales and Royalty will be furnished separately for each brand listed in Exhibit A
                                         in Excel spreadsheet format to the Licensor and sent to:

  

	 	Erik
    Sterling and Financial Committee
	 	P.O. Box 1410
	 	Rancho Mirage,
    CA 92270
	 	Via
    Email:  FinancialCommittee@sterlingwinters.com

  

    	 	 
-8-
	Initials: _______
 Initials: _______

     

    

 

		5.7	The
                                         receipt or acceptance by Licensor of any of the reports furnished by Licensee pursuant
                                         to this Agreement or of any royalties paid by Licensee hereunder (or the cashing of any
                                         royalty checks paid by Licensee hereunder) shall not preclude Licensor from questioning
                                         the accuracy thereof at any time, and in the event that any inconsistencies or mistakes
                                         are discovered in such reports or payments, any inconsistency, mistake, or inaccuracy
                                         shall immediately be rectified, and any appropriate payment due and owing shall immediately
                                         be paid by Licensee to Licensor.

 

		5.8	At
                                         the time Licensee delivers the above-referenced royalty reports to Licensor, Licensee
                                         shall pay all royalties due and owing directly to Licensor as indicated in the sales
                                         and royalty report for the month in which earned. Unless otherwise instructed by Licensor,
                                         all payments required by this agreement, shall be sent via wire transfer to the account
                                         indicated below, or to any other account designated in writing by Licensor. Licensee
                                         will send separate wires and reports for each Brand.

   

	 	To:	STERLING/WINTERS
    COMPANY
	 	 	%
    Comerica Bank
	 	 	2000 Avenue
    of the Stars, Suite 210
	 	 	Los Angeles,
    CA 90067
	 	 	Domestic
    Wire - Routing #121137522
	 	 	Account
    Name: STERLING/WINTERS COMPANY
	 	 	Account
    #: 1891-365692

  

		5.9	Licensee shall pay Licensor the following
                                         Minimum Guaranteed Royalties on the schedule set out below:

  

	Time Period
	 	Minimum
    Guaranteed Royalty Payment	 	Payment
    Due Date
	Contract Year
    1	 	$25,000.00	 	Upon
    Signing
	Contract Year
    2	 	$25,000.00	 	August
    1, 2020
	Contract Year
    3	 	$25,000.00	 	August
    1, 2021

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		5.10	Minimum
                                         Guaranteed Royalty payments shall be only credited towards Royalties in the Contract
                                         Year for which they apply (i.e., Licensee receives credit towards Royalties for the Minimum
                                         Guaranteed Royalty payment made in that particular Contract Year). Credits for Minimum
                                         Guaranteed Royalty payments do not carry over into other Contract Years. The Parties
                                         understand and agree that each payment, whether it is a Royalty or the Minimum Guaranteed
                                         Royalty amounts as set forth above, is a separate and independent obligation.

 

		5.11	Any
                                         amount (i.e., Royalties, Minimum Guaranteed Royalties, marketing fees, etc.) not paid
                                         to Licensor when due under this Agreement shall bear a late payment charge on the
                                         unpaid balance at the rate of 1.5% per month, compounded, or the maximum amount permitted
                                         by law, whichever is less

 

		5.12	In
                                         addition to the payments above, Licensee shall pay Licensor the following brand participation
                                         fees on the following calendar year dates for the purpose of general advertising, good
                                         will and promotion of the overall MIVITM brand (not limited solely to the
                                         Licensed Products produced by Licensee under this Agreement, but the for benefit of the
                                         entire MIVITM Brand line of products):

 

Year
1: [$25,000.00] due on execution of this Agreement

 

Year
2: [$25,000.00] due on first anniversary of contract effective date.

 

Year
3: [$25,000.00] due on second anniversary of contract effective date.

 

		5.13	Licensee
                                         will pay to Licensor or Designated Party, assigned by Licensor, warrants in the amount
                                         of five percent (5%) annually, of the outstanding shares of DAVC – Post merger
                                         with Samsara Luggage.

 

		5.14	Licensor
                                         will provide (6) six product samples to Licensee, for the production marketing materials.

   

6
ACCOUNTING

 

		6.1	Licensee
                                         agrees to keep accurate books of account and records covering all transactions relating
                                         to the license hereby granted, and Licensor and its duly authorized representatives shall
                                         have the right after giving reasonable notice at all reasonable hours of the day to an
                                         examination of said books of account and records relating to Licensee’s performance
                                         under the Agreement, and of all other documents and materials in the possession or under
                                         the control of Licensee or any of its affiliated, associated, or subsidiary companies
                                         or agents, with respect to the subject matter and terms of this Agreement, and shall
                                         have free and full access thereto for said purposes and for the purpose of making extracts
                                         therefrom. Upon request of Licensor, Licensee shall furnish to Licensor a detailed statement
                                         by an independent certified public accountant showing the number, description, and Net
                                         Sales of the Licensed Products covered by this Agreement distributed and/or sold by Licensee
                                         to the date of Licensor’s demand. All books of account and records shall be kept
                                         available for no less than Seven (7) years. Or, as long as required by the Internal
                                         Revenue Service, if longer than 7 years.

  

    	 	 
-10-
	Initials: _______
 Initials: _______

     

    

 

		6.2	Within
                                         thirty (30) days after the close of each calendar year during the term or any renewal
                                         thereof, Licensee shall furnish to Licensor an updated audited financial statement for
                                         the preceding calendar year or such other financial information as requested by Licensor.
                                         Licensor may take reasonable steps to acquire an interest in Licensee’s inventory
                                         to protect Licensor’s rights to royalties and quality control.

 

		6.3	Each
                                         calendar year in which this contract is in effect, and after expiration or termination
                                         of this Agreement, Licensor shall be entitled to an independent audit of and be given
                                         access to Licensee’s account books, records, invoices and other pertinent data
                                         by a certified public accountant or qualified auditor designated by Licensor. The audit
                                         shall be conducted to determine Licensee’s sales of Licensed Products, as well
                                         as all returns and trade discounts, and shall be conducted during normal business hours
                                         at Licensee’s business office or location of such files and records. The cost of
                                         the audit shall be borne by Licensor unless the audit reveals that Licensee understated
                                         sales and or royalties of Licensed Products by more than two percent (2%), in which case
                                         Licensee may be required to pay all of Licensor’s costs of the audit.

 

		6.4	Licensors
                                         exercise in whole or impart inspect records or accounts, Licensors acceptance of any
                                         statement or statements from, or the receipt our acceptance by Licensor of any payment
                                         tendered by or on behalf of, Licensee, shall be without prejudice to Licensors rights
                                         or remedies permitted by this agreement or as a matter of equity of law, and shall not
                                         preclude or prevent Licensor thereafter disputing the accuracy of any such statement
                                         or payment.

  

7
QUALITY ASSURANCE

 

		7.1	Licensee
                                         acknowledges the good reputation of Mr. Meharey, and further acknowledges that all Licensed
                                         Products manufactured, distributed, and/or sold by Licensee will enhance the reputation
                                         and recognition of Mr. Meharey to the mutual benefit of the Parties. The quality of the
                                         Licensed Products shall be consistent with or exceed the average of similar products
                                         manufactured, distributed, and/or sold by Licensee, shall serve to enhance Brand recognition
                                         of the Licensed Products to the mutual benefit of the Parties, and shall be suitable
                                         for the use for which they are intended.

  

    	 	 
-11-
	Initials: _______
 Initials: _______

     

    

 

		7.2	All
                                         Licensed Products developed, manufactured and sold hereunder, and all labels, hang tags,
                                         packaging, catalogs, brochures, publications, printed matter, advertising, signs, promotional
                                         displays, websites, webpages, video and sound recordings, online social media pages (hereinafter
                                         the “Promotional Materials”) and other forms of publicity material
                                         for the Licensed Products, shall be subject to Licensor’s written approval in advance
                                         of use, distribution, marketing or sale. Without cost to Licensor, Licensee shall submit
                                         to Licensor for its inspection and approval, at least three (3) samples of each Licensed
                                         Product, sign, promotional display, label, hang tag, packaging, catalog, brochure, publication,
                                         printed matter, advertising, video and sound recording, and other forms of publicity
                                         material including but not limited to website and online social network pages for the
                                         Licensed Products depicting the Licensed Marks (hereinafter the “Samples”),
                                         prior to any use, marketing, advertising, sale or other distribution to the public. In
                                         lieu of submitting three (3) Samples of the Promotional Materials under this Paragraph,
                                         Licensee may submit either a computer diskette or e-mail attachment containing a depiction
                                         of one (1) Sample for Licensor’s inspection and approval. Licensor’s representative,
                                         or any duly authorized representative of Licensor designated by it in writing, shall
                                         have FIFTEEN (15) BUSINESS DAYS from Licensor’s confirmed receipt of the supplied
                                         Samples to approve or reject in writing such samples. If any such time period lapses
                                         without Licensee receiving express written approval or rejection of the supplied Samples,
                                         the Samples will be deemed approved by Licensor, provided that copies of all correspondence
                                         accompanying the Samples are submitted or sent to Licensor’s counsel in accordance
                                         with the Notice Provisions of Section 24. Licensee shall not manufacture, distribute,
                                         market and/or sell any Licensed Product, or Promotional Material depicting or incorporating
                                         the Licensed Marks until Licensee has received Licensor’s written approval of the
                                         Sample. Once Licensor approves a Sample under the terms herein, that Sample will be deemed
                                         approved for all uses unless it is materially modified. From time to time after Licensee
                                         has commenced selling the Licensed Products, and upon Licensor’s request, Licensee
                                         shall furnish without cost to Licensor a minimum of two (2) additional random samples
                                         of each Licensed Product being manufactured and sold by Licensee hereunder (and, if requested,
                                         detailed photographs, descriptions, and/or videos of the Licensed Product(s), together
                                         with the related Materials, if any, used in connection therewith.

 

		7.3	All
                                         materials submitted for approval to Licensor in a language other than English will be
                                         accompanied by a complete and accurate English translation.

   

		7.4	In
                                         addition to the standards required above, Licensee acknowledges the great value of the
                                         goodwill associated with Mr. Meharey and the Licensed Marks and the worldwide recognition
                                         thereof, and Licensee agrees that it will not use the Licensed Marks in any manner which,
                                         directly or indirectly, would demean, ridicule or otherwise tarnish the reputation or
                                         image of Licensor, Mr. Meharey or the Licensed Marks. Without limiting the foregoing,
                                         (i) all Licensed Products shall in all respects be manufactured, marketed and distributed
                                         in a manner consistent with the high quality standards and image of Licensor, and (ii)
                                         Licensee shall not permit the manufacture, marketing or distribution of any Licensed
                                         Product that represents, depicts or promotes (a) the glorification of violence, including
                                         but not limited to any representations of gang- or terrorist-related imagery, firearms
                                         or explosive devices, (b) sexual activities, including but not limited to any representations
                                         of body parts or sex toys, (c) religious beliefs, including but not limited to any religious
                                         iconography or any image commonly associated with any religious organization or cult,
                                         (d) any political content or (e) tobacco, alcohol or drug use.

 

		7.5	Should
                                         any Licensed Product fail to meet the quality standards established by this Section,
                                         or fail to be manufactured, sold, and/or distributed in accordance with the same or higher
                                         quality standards and all applicable Federal, State, and local laws, or industry standards,
                                         or be subject to recall by any government or industry organization, except as provided
                                         herein, the offending products shall immediately be removed from distribution and sale,
                                         and Licensor shall have the right to remove that product from the list of Licensed Products.
                                         Licensor shall also have the option to terminate this Agreement in its entirety in its
                                         sole discretion.

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		7.6	Licensee,
                                         from time to time, shall have the right to sell goods deemed irregulars and second quality
                                         as instructed by Licensor under the same royalty conditions as set out in Section 5.1
                                         above. Licensee may sell such seconds in a way which shall not reduce the value of the
                                         Licensed Mark(s) or detract from Licensors or Mr. Meharey’s reputation and shall
                                         obtain the written approval of Licensor with respect to the terms and method of such
                                         disposal. The Percentage of seconds of any Licensed Products which may be disposed of
                                         in any given year pursuant to this section shall not, in any event, exceed Five (5%)
                                         Percent of the total number of units of that particular licensed product distributed
                                         or sold by Licensee in that year.

 

		7.7	If
                                         any retail customer of Licensee notifies Licensee or claims to Licensee that there is
                                         a significant quality issue with any Licensed Products sold to it by Licensee, Licensee
                                         shall notify Licensor of such alleged quality issues within forty-eight (48) hours of
                                         being notified by the retailer customer involved.

 

		7.8	From
                                         time to time, Licensor shall notify Licensee of consumer quality issues received by Licensor
                                         by Licensor’s website. Licensee shall reply back to applicable consumers within
                                         forty-eight (48) hours of its receipt of the issues from Licensor’s website.

 

		7.9	Licensor
                                         will have the right to purchase products from the Licensee at cost for personal use,
                                         wear testing, giveaways, and other promotional uses. Products purchased hereunder shall
                                         not be for commercial resale.

   

		7.10	Licensor
                                         shall have the right to inspect Licensee’s manufacturing premises for the sole
                                         purpose of ensuring that Licensed Marks and the quality of the Licensed Products are
                                         satisfactory. Licensee will permit a duly authorized representative of Licensor to perform
                                         such inspection during normal business hours upon reasonable notice for the purpose of
                                         ascertaining or determining compliance with this provision. Licensor will notify Licensee
                                         at least Five (5) Days in advance of any requested inspection date. All communication,
                                         verbal and written, will be conducted through Licensee during the Term of this License
                                         Agreement and for a period of three years thereafter. All information regarding the manufacturer
                                         is considered to be valuable and therefore confidential between Licensee and Licensor.

  

8
DISPLAY OF MERCHANDISE

 

		8.1	Licensee
                                         agrees to maintain space in its showroom located in various high traffic locations and
                                         dedicated to display of the Licensed Products under the Brand. Licensee further agrees
                                         that the Licensed Products shall be displayed at Licensee’s showroom in the most
                                         favorable manner possible to enhance the recognition of the Brand and the Licensed Products
                                         to the mutual benefit of the Parties. The display of the Licensed Products shall be subject
                                         to the written approval of Licensor prior to any display thereof.

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		8.2	All
                                         signage related to the Licensed Products shall be maintained, cleaned, updated, and replaced
                                         regularly so that the signage maintains a fresh appearance to enhance the Brand recognition
                                         of the Licensed Products to the mutual benefit of the Parties. The Parties agree to have
                                         meaningful consultation as to the design and placement of all signage. Licensor shall
                                         approve all signage in writing prior to any use thereof.

 

		8.3	Licensee
                                         may display and offer the Licensed Products on its own company or business web page/site
                                         in a manner, which makes the Licensed Products distinctive and enhances the recognition
                                         of the Brand and the Licensed Products to the mutual benefit of the Parties. Products
                                         other than Licensed Products bearing the Licensed Marks may be displayed on the web page/site
                                         only with the written approval of Licensor. Licensee shall provide a link from its web
                                         page/site to Licensor’s web page/site. Licensor shall approve any display of the
                                         Licensed Products bearing the Licensed Marks on Licensee’s web page/site in writing
                                         prior to any display or use thereof. Licensee shall establish its web page/site within
                                         forty-five (45) days of the Effective Date of this Agreement and shall update its web
                                         page/site on a monthly basis.

 

		8.4	Licensee
                                         may not supply the Brand to any electronic channel of distribution, including but not
                                         limited to television channels and Internet websites. All such channels are expressly
                                         excluded from the Channels of Distribution under this License and are expressly retained
                                         and reserved solely by Licensor. From time to time, in its sole discretion, Licensor
                                         may seek opportunities for distribution of the Brand through certain electronic channels
                                         of distribution, and in that event, Licensee shall assist in such efforts as may be reasonably
                                         requested by Licensor, however, Licensor is in no way bound to seek such opportunities.

   

9
LABELING

 

		9.1	Licensee
                                         agrees that it will cause to appear on or within each Licensed Product manufactured,
                                         sold, and/or distributed under this Agreement and on or within all advertising, marketing,
                                         promotional, or display material bearing the Licensed Marks, the appropriate trademark
                                         and copyright notices, markings, and/or designations, and/or any other notice requested
                                         by Licensor. In the event that any Licensed Product is distributed and/or sold in a carton,
                                         container, packing and/or wrapping material bearing the Licensed Marks, such notices
                                         shall also appear upon the said carton, container, packing, and/or wrapping material.

 

		9.2	Licensee
                                         further agrees that on all Related Materials for the Licensed Products, a licensing statement
                                         inclusive of Licensor’s web page/site address, and a mission statement, both subject
                                         to Licensor’s approval, shall appear during the term of this Agreement and any
                                         renewal or extension thereof. A true and correct copy of the licensing statement and
                                         mission statement approved by Licensor is set forth in Exhibit F attached hereto
                                         and incorporated by reference herein. Licensor reserves the right to modify, supplement,
                                         and/or alter the licensing statement or mission statement in its sole discretion and
                                         upon reasonable notice to Licensee. Each Related Material containing any such statements
                                         or Licensed Marks, as well as all advertising, marketing, promotional, and/or display
                                         material which reference the Licensed Marks and/or relate to the Licensed Products, shall
                                         be submitted to Licensor for its approval prior to any use by Licensee.

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		9.3	The
                                         Parties further agree that should any of the Licensed Products be manufactured, distributed,
                                         or sold without the appropriate or requested trademark and copyright notices, markings,
                                         and/or designations, in addition to any other rights it may have, Licensor may demand
                                         the removal of the offending product from distribution and sale, and may remove that
                                         product from the list of Licensed Products.

 

10
PROMOTIONAL MATERIAL

 

		10.1	Licensee
                                         is required to provide substantial advertising and promotional support for the Licensed
                                         Products bearing the Licensed Marks including, but not limited to, the following:

 

		a.	Licensee
                                         will budget not less than ___ percent (___%) of its corporate resources to design, market,
                                         present and sell the Licensed Products under the Brand.

 

		b.	Licensee
                                         will budget not less than ___ percent (___%) of its total media-advertising budget for
                                         the Licensed Products under the Brand.

 

		c.	Licensee
                                         will run full-page advertising in trade publications such as [LIST TRADE PUBLICATIONS]
                                         to insure retail recognition for the Brand in the [_____] marketplace.

 

		d.	Any
                                         print advertisements for the Licensed Products under the Brand will be full-page advertisements.
                                         In the event that a print advertisement of less than a full page is published, Licensee
                                         agrees to buy two (2) full page advertisements in the next issue of the publication,
                                         as well as publishing online advertising in a manner to be agreed between the parties.

 

		e.	Licensee
                                         will use its best efforts to convey to the market that it is a licensee of the Brand,
                                         including but not limited to placing signage depicting the Brand prominently and in the
                                         first position at Licensee’s corporate offices and showrooms, and on Licensee’s
                                         corporate stationery, point of sale, marketing and other materials.

   

		f.	Carton/box
                                         marking denoting Brand.

 

		g.	Custom
                                         Brand hangtags for each Licensed Product.

 

		h.	Point
                                         of purchase easels supplied to dealers.

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		i.	Point
                                         of purchase banners, mobiles and signage supplied to dealers as needed for display set-up.

 

		j.	Licensee
                                         will use contacts in marketplace to gain product placement with key customers.

 

		k.	Licensee
                                         will merchandise the Licensed Products to motivate customers to build the Brand within
                                         stores, including opening order discount co-op advertising and promotional discounts
                                         as needed to properly promote the Licensed Products.

 

		l.	Licensee
                                         will make reasonable efforts to assure adequate public relations and press coverage of
                                         the Brand within the trade.

 

		m.	On-site
                                         sales training programs for Brand dealers.

 

		n.	Sales
                                         event support and display set-up assistance as reasonably required.

 

		o.	Custom
                                         catalog inserts, lithographs, tear sheets and brochures supporting the Licensed Products
                                         under the Brand.

 

		p.	Editorial
                                         content for use on Licensor’s website.

 

		10.2	No
                                         advertising, marketing, promotional, and display materials, or other artwork shall be
                                         used without prior written approval by Licensor. The Parties further agree that all artwork
                                         and designs involving the Licensed Marks shall be produced under appropriate “work
                                         for hire” provisions or are hereby assigned to and shall remain the property of
                                         Licensor, notwithstanding their creation by Licensee or others. Licensee shall ensure
                                         that, prior to utilizing any non-employees to create advertising, marketing, promotional,
                                         and display materials or other artwork, advertising copy, and/or other copyrightable
                                         materials related to the Licensed Marks, such persons or entities shall have executed
                                         the necessary valid agreements to convey the ownership and copyrights to these items
                                         to Licensor.

 

		10.3	Licensee
                                         agrees not to offer for sale, advertise, publicize, market, or otherwise promote any
                                         of the Licensed Products in any manner whatsoever, including without limitation print
                                         media, radio, television, cable, internet, or other multi-media, without the prior written
                                         approval of Licensor, which approval shall not be unreasonably withheld.

 

		10.4	The
                                         Parties further agree that in the event Licensor elects to pay for or to otherwise make
                                         a voluntary financial contribution to produce any advertising, marketing, promotional,
                                         and/or display materials of any kind, including without limitation print media, radio,
                                         television, cable, internet, or other multi-media, in connection with the Licensed Products,
                                         Licensor shall have unfettered discretion to do so.

   

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

11
BRAND MANAGER

 

		11.1	Licensee
                                         agrees to establish and fill a position of Brand Manager to work with Licensor to facilitate
                                         the merchandising, promotion and public relations, development, assortment, quality,
                                         and design of the Licensed Products. The choice of individual to fill the position of
                                         Brand Manager shall be subject to the prior written approval of Licensor. Said Brand
                                         Manager shall perform his/her/their duties during the term of this Agreement, and any
                                         renewal or extension thereof, and shall cooperate with Licensor to maximize the opportunities
                                         for brand development and/or brand recognition of the Licensed Products to the mutual
                                         benefit of the Parties. Brand Manager’s services will be in mutual cooperation
                                         with Licensor to achieve the common goals of the Brand. Licensor acknowledges that the
                                         Brand Manager will coordinate with specific departments inside Licensee to carry out
                                         the business under this Agreement, and that the Brand Manager will have other duties
                                         tasked to them by Licensee.

 

		11.2	Licensor
                                         may periodically hold a Brand Summit for attendance of representatives of its licensees.

 

12
CONSULTATION

 

		12.1	Licensor
                                         and Licensee agree to have meaningful consultation with each other regularly throughout
                                         the term of this Agreement and any renewal or extension thereof. The Parties agree that
                                         the purpose of the consultation will be to discuss methods and strategies to develop,
                                         promote, and expand the MIVITM brand and image for the mutual benefit of Licensor,
                                         Licensee and Licensee’s customers. To attain this mutual goal of the Parties, Licensor,
                                         or its designees, agrees to meet in person throughout the calendar year, in conformity
                                         with mutually agreed upon schedules, with Licensee, or its designees, to discuss merchandise,
                                         marketing, showroom and advertising plans and to solicit input and ideas from Licensor
                                         or its designees.

 

		12.2	Mr.
                                         Meharey is the Chief Designer of the Brand. In addition to the services provided by Brand
                                         Manager, Licensor hereby designates Jason Winters and Jon Carrasco to serve as liaison
                                         with Licensee. Licensor may designate additional members of the MIVITM team
                                         to serve as its liaison with Licensee. Licensor reserves the right to change, modify,
                                         supplement, and/or alter this designation in any way and at any time in its sole and
                                         unfettered discretion.

 

		12.3	The
                                         Parties further agree that Licensor may from time to time recommend sub-contractors,
                                         vendors, and/or manufacturers to Licensee that Licensee will consider in good faith.
                                         Licensee will use its best efforts to use the sub-contractors, vendors, and/or manufacturers
                                         suggested by Licensor.

 

    	 	 
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	Initials: _______
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13
TRADE SHOWS

 

		13.1	Licensor
                                         agrees to make Mr. Meharey available for one (1) personal appearance at a trade show
                                         in the United States on behalf of Licensee during each twelve (12) month period this
                                         Agreement is in effect. Requests for such appearances shall be made not less than five
                                         (5) weeks prior to the desired appearance and shall be subject to Mr. Meharey’s
                                         pre-existing personal and professional commitments. Each Trade Show Event will occur
                                         at a single location and Mr. Meharey shall not be obligated to appear for more than (90)
                                         ninety minutes per Event (unless approved by Licensor in its sole discretion). Licensee
                                         shall not promote in any manner any Trade Show Event as an autograph show.

 

		13.2	All
                                         travel, lodging, meals, and related incidental expenses incurred by Mr. Meharey and by
                                         all traveling companions she reasonably requires for the personal appearances provided
                                         under this Section shall be paid by Licensee. Mr. Meharey and the traveling companions
                                         she reasonably requires shall either travel via private plane or first-class air and
                                         with portal-to-portal SUV ground transportation. If private plane travel is used, Licensee
                                         shall pay the round-trip fuel costs and landing fees for the relevant flight, and if
                                         airline travel is used, then Licensee shall pay for first class air travel. Mr. Meharey
                                         and the traveling companions she reasonably requires shall be lodged in first class hotel
                                         accommodations, and each shall be provided with all meals in connection with such appearances.
                                         Where any appearance is for the benefit of multiple licensees, Licensee’s portion
                                         of expenses shall be their relative percentage of such expenses based upon the number
                                         of other licensees involved.

 

		13.3	Licensee
                                         to provided, via email to Licensor each October a list of trade shows they will be attending
                                         the following year. Email address; familycontracts@sterlingwinters.com

 

14
PHOTO SESSIONS

 

		14.1	Licensor
                                         shall make Mr. Meharey available to participate in two (2) photo sessions each year during
                                         the term of this Agreement at a mutually acceptable time and place in California featuring
                                         Mr. Meharey with Licensed Products under the Brand. Said photo sessions shall be scheduled
                                         at Mr. Meharey’s convenience upon not less than five (5) weeks’ prior notice
                                         subject to his pre-existing personal and professional commitments. The photo sessions
                                         may not exceed eight (8) hours in length.

 

		14.2	In
                                         addition to any other sums payable hereunder, Licensee shall pay Licensor all expenses
                                         for each photo session promptly upon receipt of invoice. The Parties agree that Licensor
                                         shall have the unfettered right to produce and/or manage any such photo session. Any
                                         amount paid under this Section shall not be included in the calculation of royalties
                                         pursuant to Section 5, or Brand Participation Fees pursuant to Section 5.13.

 

		14.3	The
                                         photographs resulting from any photo session(s) shall be contracted for under “work
                                         for hire” provisions and all rights, including without limitation copyright, to
                                         the photos, negatives, and any other tangible materials bearing Mr. Meharey’s image
                                         or relating to said photo session(s), shall be the property of Licensor and are hereby
                                         assigned to Licensor. If Licensee uses photographic service of other than its employees,
                                         Licensee shall obtain written assignments to the Licensor of all copyright and other
                                         rights in any photographs, negatives, or any other materials bearing Mr. Meharey’s
                                         image. All photographs of Mr. Meharey, which the Licensee desires to use, shall be submitted
                                         to Licensor for its absolute written approval prior to any use thereof. This shall include
                                         the approval of all final retouched versions of the photos as well as the specific negatives,
                                         which might be used.

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		14.4	All
                                         travel, lodging, meals, and related incidental expenses incurred by Mr. Meharey or his
                                         designee and by all traveling companions she reasonably requires for the photo session(s)
                                         provided under this Section shall be paid by Licensee. Mr. Meharey or his designee and
                                         the traveling companions she reasonably requires shall travel either by private plane
                                         or via first class air and with portal-to-portal SUV ground transportation. If private
                                         plane travel is used, Licensee shall pay the round-trip fuel costs and landing fees for
                                         the relevant flight, and if airline travel is used, then Licensee shall pay for first
                                         class air travel. Mr. Meharey or her designee and the traveling companions she reasonably
                                         requires shall be lodged in first class hotel accommodations, and each shall be provided
                                         with all meals in connection with such photo session(s).

 

15
RECORDING & FILMING

 

		15.1	Except
                                         as provided herein, under no circumstance shall any recording be made by Licensee in
                                         any manner whatsoever, whether on video or audio tape, film, celluloid, and/or by any
                                         other means possible, of Mr. Meharey in connection with any appearance provided under
                                         this Agreement, including without limitation all personal appearances and photo sessions,
                                         without the prior written approval of Licensor. Should Licensor approve any such recording
                                         of any appearance by Mr. Meharey in connection herewith, said recording shall be contracted
                                         for under “work for hire” provisions and all rights, including the copyright,
                                         related to said recording of Mr. Meharey, shall belong solely to Licensor and are hereby
                                         assigned to Licensor. If Licensee uses the services of someone other than its employees
                                         to make any such recording, Licensee shall obtain written assignments to Licensor of
                                         all copyright and other rights in any recordings, negatives, or any other materials bearing
                                         Mr. Meharey’s image and/or voice. It is further agreed that any such recording
                                         of Mr. Meharey, which Licensee desires to use for any purpose whatsoever, shall be submitted
                                         to Licensor for its absolute written approval prior to any use thereof. In addition to
                                         approving the recording itself, the intended use must also be approved in writing by
                                         Licensor prior to any use thereof.

 

		15.2	Guild/Union
                                         Requirements (SAG-AFTRA) – Tommy Meharey is a union member and Licensee will make
                                         payments accordingly for any audio or visual recordings.

 

16
GOOD WILL

 

		16.1	Licensee
                                         recognizes the great value of the good will associated with the Licensed Marks and acknowledges
                                         that the Licensed Marks are distinct and all rights therein and goodwill pertaining thereto
                                         belong exclusively to Licensor, and that the Licensed Marks have a secondary meaning
                                         in the mind of the public.

  

    	 	 
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	Initials: _______
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		16.2	Licensee
                                         will take all reasonable steps to enhance the reputation of Mr. Meharey and the good
                                         will associated with the Licensed Marks and will not do harm thereto at any time.

   

17
LICENSOR’S RIGHTS

 

		17.1	Nothing
                                         in this Agreement shall be construed to prevent Licensor from granting any other license
                                         for the use of the Licensed Marks or from utilizing the Licensed Marks in any manner
                                         whatsoever.

 

		17.2	Licensee
                                         agrees that rights not specifically granted to Licensee are reserved by Licensor and
                                         may be used by Licensor without limitation.

 

		17.3	Licensee
                                         agrees to furnish any Licensed Product requested by Licensor, Mr. Meharey, or Sterling/Winters
                                         Company, at manufacturer’s cost; provided, however, that any Licensed Product provided
                                         by Licensee under Section 7 shall be at no charge.

 

		17.4	Any
                                         approval by Licensor hereunder shall not constitute waiver of Licensor’s rights
                                         or Licensee’s duties under any provision of the License Agreement.

 

18
PROTECTION OF LICENSOR’S RIGHTS

 

		18.1	Licensee
                                         agrees that during the term of this Agreement, or thereafter, it will not register or
                                         attempt to register any of the Licensed Marks, nor will Licensee form or incorporate
                                         any entity under a name that includes the Licensed Marks. Licensee will not attack the
                                         title or any rights of Licensor in and to the Licensed Marks or the Licensed Products
                                         or attack the validity of this Agreement.

 

		18.2	Licensee
                                         recognizes the great value of the goodwill that is associated with the trademarks, service
                                         marks, copyrights, Internet domain names and social media user/screen names in the Licensed
                                         Marks, and Licensee acknowledges that, as between the parties, such goodwill is owned
                                         exclusively by Licensor and any goodwill created by Licensee’s use of the Licensed
                                         Marks shall inure to Licensor’s benefit. Licensee further acknowledges that, as
                                         between the parties, all right, title and interest in and to the trademarks, service
                                         marks, copyrights, Internet domain names and social media user/screen names in the Licensed
                                         Property are owned exclusively by Licensor. Licensee shall not challenge or contest Licensor’s
                                         ownership of the trademarks, service marks, copyrights, Internet domain names and social
                                         media user/screen names in the Licensed Marks, or their validity, or the validity of
                                         the license granted by this License Agreement.

 

		18.3	Licensee
                                         further agrees to cooperate fully and in good faith with Licensor for the purpose of
                                         securing and preserving Licensor’s rights in and to the Licensed Marks. In the
                                         event there has not been a previous registration of any Licensed Mark and/or any material
                                         relating thereto for a particular Licensed Product, Licensor may register and maintain,
                                         at its Licensee’s expense, trademarks and/or service marks in the appropriate class(es)
                                         and/or copyrights in the name of Licensor. Licensee is not permitted to register any
                                         copyright, trademark, and/or service mark on behalf of Licensor. It is further agreed
                                         that nothing contained in this Agreement, and no act or omission by Licensor and/or by
                                         Licensee shall be construed as an assignment or grant to Licensee of any right, title,
                                         or interest in or to the Licensed Marks, it being understood that all rights relating
                                         thereto are reserved by Licensor, except for the license hereunder to Licensee of the
                                         right to use and utilize the Licensed Marks only as specifically and expressly provided
                                         in this Agreement.

  

    	 	 
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	Initials: _______
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		18.4	Licensee
                                         also agrees to assist Licensor to the extent necessary in the procurement of any protection
                                         or to protect any of Licensor’s rights to the Licensed Marks. Licensor, if it so
                                         desires, may commence or prosecute any claims or suits in its own name, and Licensee
                                         may commence or prosecute any claims or suits only with the prior written approval of
                                         Licensor. Licensee shall notify Licensor in writing within five (5) days of any infringement
                                         or imitation by others of the Licensed Marks which may come to Licensee’s attention,
                                         and Licensor shall have the sole right to determine whether or not any action shall be
                                         taken on account of any such infringement or imitation. Licensor may, but is not required,
                                         to seek, obtain and maintain, in its own name, such intellectual property. Internet Domain
                                         name and social media user/screen name protection for the Licensed Marks in the Territory,
                                         which Licensor, in its sole discretion, believes to be appropriate and financially sound.
                                         Licensor in its sole discretion, shall designate, appoint and retain, the attorney or
                                         attorneys responsible for filing, producing and maintaining all intellectual property,
                                         Internet domain name and social media user / screen name registrations and protection
                                         for the Licensed Marks.

 

		18.5	Licensee
                                         acknowledges that Licensor has sole and exclusive ownership of all right, title, and
                                         interest in and to the Licensed Marks and any registrations that have been issued or
                                         may be issued thereon. Licensee agrees that it will not at any time do or cause to be
                                         done any act or thing contesting or in any way impairing or tending to impair any part
                                         of such right, title and interest, including without limitation applying for trademark
                                         registration in Licensee’s name for any word or mark that is the same or likely
                                         to be confusingly similar to the Licensed Marks. Licensee further agrees that its every
                                         use of the Licensed Marks shall inure to the benefit of Licensor, and that Licensee shall
                                         not at any time acquire any rights in such Licensed Marks by virtue of any use it may
                                         make of the Licensed Marks.

 

		18.6	Nothing
                                         contained in this License Agreement shall give Licensee any right, title or interest
                                         in or to the Licensed Marks except for the rights expressly licensed by this License
                                         Agreement, and subject to its terms and conditions. Licensee shall not make any representation
                                         or do any act, which may reasonably be taken to indicate that it owns the Licensed Marks
                                         or owns any rights in the Licensed Marks other than the rights to use Licensed Marks
                                         licensed by this License Agreement.

 

		18.7	Adaptations
                                         and modifications of Licensed Marks prepared under this License Agreement shall be included
                                         as part of the Licensed Marks.

 

		18.8	All
                                         registrations for intellectual property, Internet domain names and social media user/screen
                                         names in the Licensed Marks are to be applied for and obtained exclusively in Licensor’s
                                         name. Licensee shall not file or register any intellectual property applications or seek
                                         any Internet domain name and/or social media user/screen name registration in the Licensed
                                         Marks, Licensed Products or any derivations, improvements, variations or modification
                                         thereof, without Licensor’s prior written approval.

  

    	 	 
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	Initials: _______
 Initials: _______

     

    

 

		18.9	Licensee
                                         shall notify Licensor, or its designated representative, prior to entering into any agreement
                                         with any individual, company or business, for sales outside the United States of any
                                         Licensed Product, to permit the timely filing of foreign and/or international trademark
                                         and copyright applications, or other intellectual property protection, covering the Licensed
                                         Marks, in Licensor’s sole discretion.

 

		18.10	Licensee
                                         agrees to cooperate fully and in good faith with Licensor for the purpose of securing
                                         and preserving Licensor’s rights in and to the Licensed Marks. In the event there
                                         has not been a previous registration of any Licensed Mark and/or any material relating
                                         thereto for a particular Licensed Product, Licensor may register and maintain, at its
                                         Licensee’s expense, trademarks and/or service marks in the appropriate class(es)
                                         and/or copyrights in the name of Licensor. Licensee is not permitted to register any
                                         copyright, trademark, and/or service mark on behalf of Licensor. It is further agreed
                                         that nothing contained in this Agreement, and no act or omission by Licensor and/or by
                                         Licensee shall be construed as an assignment or grant to Licensee of any right, title,
                                         or interest in or to the Licensed Marks, it being understood that all rights relating
                                         thereto are reserved by Licensor, except for the license hereunder to Licensee of the
                                         right to use and utilize the Licensed Marks only as specifically and expressly provided
                                         in this Agreement.

 

19
WARRANTIES AND INDEMNIFICATION

 

		19.1	Licensor
                                         hereby indemnifies Licensee and undertakes to hold it harmless against any claims or
                                         suits, demands, losses, injuries, liabilities costs, judgments, arbitration awards, license
                                         fees, settlement, damages and expenses (including reasonable attorneys’ fees and
                                         costs, whether or not any legal proceeding is commenced) (“Losses”)
                                         for trademark infringement arising solely out of the validity of the rights to the Licensed
                                         Marks and from Licensee’s use of the Licensed Marks as granted herein and authorized
                                         under the terms of this Agreement, provided that prompt notice is given to Licensor within
                                         ten (10) days of any such claim or suit, and provided, further, that Licensor shall have
                                         the option to undertake and conduct the defense of any suit so brought, and no settlement
                                         of any such claim or suit is made without the prior written consent of Licensor. Licensor’s
                                         indemnification under this Section shall be apportioned and limited to only the portion
                                         of, and extent that, such Losses are, or are claimed to be, proximately caused by or
                                         attributable specifically to Licensee’s use of Licensed Marks in a manner permitted
                                         by this License Agreement. It is further agreed that Licensor reserves the unfettered
                                         right to select counsel to defend any such claims.

 

		19.2	Licensee
                                         shall defend, indemnify, and hold Licensor harmless against any and all actions, claims,
                                         demands, lawsuits, loss, costs, damages, judgments, liabilities, license fees, settlement
                                         or expenses incurred, claimed, obtained, or sustained, including without limitation attorneys’
                                         fees and costs, of any nature whatsoever, whether in law or in equity, including without
                                         limitation claims relating to or allegedly relating to the design, manufacture, sale,
                                         purchase, use, advertising, marketing, and/or distribution of any Licensed Product, whether
                                         for personal injury, product liability, intellectual property infringement, dilution,
                                         misappropriation or otherwise. Licensor reserves the right to select counsel to defend
                                         and/or bring any such claims. Notwithstanding Licensor’s right to the choice of
                                         counsel, Licensee shall solely be responsible for any and all attorneys’ fees,
                                         costs, and expenses relating to any and all such actions.

  

    	 	 
-22-
	Initials: _______
 Initials: _______

     

    

 

		19.3	Licensor
                                         warrants that it has the lawful capacity to execute this Agreement and that it is the
                                         owner of the Licensed Marks or the authorized licensor with right to sublicense. Licensor
                                         believes that it and Licensee are entitled to use the Licensed Marks in commerce relating
                                         to the Licensed Products, and that to the best of its knowledge and belief, no other
                                         person or entity has the right to use the Licensed Marks in commerce on the Licensed
                                         Products, either in the identical form or in such near resemblance thereto as may be
                                         likely, when applied to the goods of such other person or entity, to cause confusion,
                                         mistake, or deception.

 

		19.4	Licensor
                                         makes no representations or warranties with respect to the design, manufacture, sale,
                                         purchase, use, marketing, and/or distribution of any Licensed Product manufactured, sold,
                                         and/or distributed by Licensee and disclaims any liability arising out of the design,
                                         manufacture, sale, purchase, use, marketing, and/or distribution of any Licensed Product,
                                         and any such express or implied warranties are hereby disclaimed.

 

		19.5	Licensee
                                         represents and warrants to Licensor that: (i) Licensee has the full power and authority
                                         to enter into this License Agreement on behalf of Licensee and to perform all of Licensee’s
                                         material obligations pursuant to this License Agreement, and that the Licensed Products
                                         manufactured, sold, and/or distributed by Licensee under this Agreement shall be suitable
                                         for the purpose for which they are intended to be used and shall comply with all applicable
                                         Federal, State, and local laws, and industry standards. (ii) Licensee will not harm or
                                         misuse the Licensed Property or bring the Licensed Marks into disrepute, (iii) except
                                         as specifically provided in this License Agreement, Licensee will not create any expenses
                                         chargeable to Licensor or Mr. Meharey without the prior written approval of Licensor,
                                         (iv) all Licensed Products (and the content contained or used in the Licensed Products)
                                         designed, developed, marketed, distributed, published, performed or sold by Licensee
                                         pursuant to this License Agreement do not, and will not, infringe any intellectual property
                                         right or any personal right of any third party, and (v) Licensee will not knowingly permit,
                                         do or commit any act or thing that would degrade, tarnish or deprecate or disparage the
                                         Licensed Property or Licensor’s or Mr. Meharey’s public image in society
                                         or standing in the community, or prejudice Licensor or Mr. Meharey and that it will terminate
                                         such activities promptly upon written notice, and failure to do so constitutes a material
                                         breach of this License Agreement. Licensee acknowledges and agrees that there are no
                                         warranties, guarantees, conditions, covenants, or representations by Licensor as to marketability,
                                         fitness for a particular purpose, or other attributes of the Licensed Products, whether
                                         express or implied (in law or in fact), oral or written.

 

		19.6	Licensee
                                         shall provide Licensor with prompt written notice of any lawsuits or threatened lawsuits,
                                         or other significant developments, investigations, claims, or final refusals in which
                                         Licensee is or may be named as a party or for which Licensee is obligated or has agreed
                                         to indemnify any party, and Licensee shall thereafter provide Licensor with periodic
                                         written updates concerning relevant developments in any such lawsuits as they arise.

  

    	 	 
-23-
	Initials: _______
 Initials: _______

     

    

 

		19.7	For
                                         purposes of this Section 19, the term “Licensor” shall mean Licensor
                                         and, without limitation, any of its agents, employees, servants, representatives, parents,
                                         subsidiaries, affiliates, officials, directors, officers, shareholders, attorneys, divisions,
                                         branches, units, affiliated organizations, successors, predecessors, contractors, assigns,
                                         and all persons acting by, through, under, or in concert with them, past or present,
                                         specifically including Mr. Meharey, MIVITM LLC, Ms. Ireland, kathy ireland®
                                         Worldwide, kathy ireland® LLC, Sterling/Winters Company, Moretz
                                         Marketing, LLC its executives and employees.

 

20
INSURANCE

 

		20.1	Licensee
                                         represents that it has obtained, and agrees to maintain, at its own expense, in full
                                         force and effect at all times during which the Licensed Products are being manufactured,
                                         sold, and distributed, insurance for bodily injury, advertising injury, property damage,
                                         and product liability from a recognized insurance company approved by Licensor, which
                                         is qualified to do business in the State of California, providing protection at least
                                         in the amount of $5,000,000 per occurrence and $5,000,000 in the aggregate for Licensor
                                         and for Licensee against any actions, claims, demands, lawsuits, loss, costs, attorneys’
                                         fees, damages, judgments, and liabilities of any nature whatsoever relating to the Licensed
                                         Products. As proof of such insurance, a fully paid certificate of insurance naming Licensor
                                         (as defined above) as Licensee shall submit an insured party certificate to Licensor
                                         for Licensor’s prior written approval before any Licensed Product is manufactured,
                                         sold, or distributed. Any proposed change in certificates of insurance shall be submitted
                                         to Licensor for its prior written approval. Licensor shall be entitled to a copy of the
                                         prevailing certificate of insurance, which shall be furnished to Licensor by Licensee.
                                         The certificate(s) shall conform to the language requirements set out in Exhibit G
                                         attached hereto.

 

		20.2	For
                                         purposes of this Section 20, the term “Licensor” shall mean Licensor
                                         and, without limitation, any of its agents, employees, servants, representatives, parents,
                                         subsidiaries, affiliates, officials, directors, officers, shareholders, attorneys, divisions,
                                         branches, units, affiliated organizations, successors, predecessors, contractors, assigns,
                                         and all persons acting by, through, under, or in concert with them, past or present,
                                         specifically including Mr. Tommy Meharey, MIVITM, Ms. Ireland, kathy ireland®
                                         Worldwide, kathy ireland® LLC, Sterling/Winters Company, ACDC, LLC,
                                         and Moretz Marketing, LLC its executives and employees.

  

    	 	 
-24-
	Initials: _______
 Initials: _______

     

    

 

21
INSOLVENCY; CHANGE OF CONTROL

 

		21.1	If
                                         Licensee files a petition in bankruptcy or is adjudicated a bankrupt or if a petition
                                         in bankruptcy is filed against Licensee, or if it becomes dissolved, or becomes insolvent
                                         or unable to pay or discharge its liabilities in the ordinary course of business, or
                                         if Licensee assigns the whole or any substantial part of its assets or undertakings for
                                         the benefit of creditors or makes an assignment for the benefit of its creditors or any
                                         similar arrangement pursuant to any federal or state law, compulsory or voluntarily,
                                         or if a receiver or other similar officer is appointed for the whole or any part of the
                                         assets or undertakings of Licensee or its business, or if Licensee stops payment to its
                                         creditors generally, or ceases or threatens to cease to carry on its business or any
                                         substantial part thereof, or if Licensee merges or consolidates with or into any other
                                         corporation, or directly or indirectly sells or otherwise transfers, sells, or disposes
                                         of all or a substantial portion of its business or assets, or if a third party who does
                                         not own stock acquires a majority of the voting stock of Licensee, Licensor may terminate
                                         this Agreement by giving notice to Licensee of its intention to terminate and such termination
                                         shall be effective immediately. In the event this Agreement is so terminated, Licensee,
                                         its receivers, representatives, trustees, agents, administrators, successors, and/or
                                         assigns shall have no right to sell, exploit, or in any way deal with or in any Licensed
                                         Products covered by this Agreement or any related advertising, marketing, promotional,
                                         and display materials, including without limitation cartons, containers, packing, and
                                         wrapping materials, except with and under the special consent and instructions of Licensor
                                         in writing, which they shall be obligated to follow.

   

		21.2	In
                                         the event this Agreement is so terminated under this Section 22, Licensee, its receivers,
                                         representatives, trustees, agents, administrators, successors, and/or assigns shall have
                                         no right to sell, exploit, or in any way deal with or in any Licensed Products covered
                                         by this Agreement or any related advertising, marketing, promotional, and display materials,
                                         including without limitation cartons, containers, packing, and wrapping materials, except
                                         with and under the special consent and instructions of Licensor in writing, which they
                                         shall be obligated to follow.

 

22
TERMINATION

 

		22.1	Except
                                         as otherwise provided herein, in the event either party breaches or fails to perform
                                         any of its material duties and obligations pursuant to the terms of this Agreement, the
                                         non-breaching party shall have the right to terminate this Agreement upon thirty (30)
                                         days’ notice in writing, and such notice of termination shall become effective
                                         unless the breaching party shall remedy the breach within the thirty (30) day period
                                         to the reasonable satisfaction of the non-breaching party. The Parties agree to make
                                         a reasonable effort to resolve any disputes or breaches prior to exercising the right
                                         of termination.

 

		22.2	Termination
                                         of this Agreement shall be without prejudice to any rights, which Licensor may otherwise
                                         have against Licensee. Upon the termination of this Agreement, notwithstanding anything
                                         to the contrary herein, all royalties on sales theretofore made and any other monies
                                         owed, shall become immediately due and payable, and all rights and licenses granted hereunder
                                         shall cease and revert to Licensor. Further, Licensee will withdraw or cancel any governmental
                                         filings made on its behalf that include the Licensed Marks. Licensee shall immediately
                                         cease and desist from using the Licensed Marks in any way. Unless otherwise stated in
                                         this Agreement, Licensee shall have no right to sell, exploit, or in any way deal with
                                         or in any Licensed Products covered by this Agreement or any related advertising, marketing,
                                         promotional, and display materials, including without limitation cartons, containers,
                                         packing, and wrapping materials, except with and under the special consent and instructions
                                         of Licensor in writing, which they shall be obligated to follow. Licensee shall immediately
                                         return any and all Confidential Information of Licensor to Licensor, as well as marketing
                                         and advertising materials bearing the Licensed Marks.

  

    	 	 
-25-
	Initials: _______
 Initials: _______

     

    

 

		22.3	Upon
                                         the natural expiration or termination of this Agreement, neither Party shall make any
                                         publicly disparaging comments regarding the other or its business, whether written, oral,
                                         or electronic. This provision shall survive the expiration or termination of this Agreement.
                                         However, nothing herein shall limit either Party’s right to arbitration or other
                                         judicial remedies as set out in this Agreement.

 

		22.4	Licensee
                                         acknowledges that a failure (except as otherwise expressly provided herein) to cease
                                         the manufacture, sale, transmission, broadcast or distribution of the Licensed Products
                                         upon the terminations or expiation of this License Agreement will result in immediate
                                         and irreparable damage to Licensor and Mr. Meharey. Licensee further acknowledges that
                                         there is no adequate remedy at law for such failure to cease manufacture, sale or distribution,
                                         and in the event of such failure, Licensor and/or Mr. Meharey shall be entitled to equitable
                                         relief and such further relief as a court or agency with jurisdiction may deem just and
                                         proper.

 

		22.5	Upon
                                         termination or expiration of this License Agreement, all of the rights granted hereunder
                                         to Licensee, and all rights, title and interest in and to the Licensed Marks, including
                                         but not limited to, patent, industrial design, copyright, trademark, service mark, trade
                                         dress and all improvements, additions and changes thereto, trade secret rights, and goodwill
                                         relating to the Licensed Marks, shall revert to Licensor. Licensee agrees to promptly
                                         execute all documents that may be reasonably necessary to affect the foregoing. This
                                         right and obligation shall survive the terminations or expiration of this License Agreement.

 

23
FORCE MAJEURE

 

		23.1	The
                                         Parties shall be released from their obligations hereunder, and this Agreement shall
                                         terminate in the event that governmental regulations or other causes arising out of a
                                         state or national emergency or war or causes beyond the control of the Parties render
                                         performance impossible, and one Party so informs the other in writing of such causes
                                         and its desire to be so released. In such event, all royalties on sales and all other
                                         monies due, theretofore made shall become immediately due and payable to Licensor.

 

24
NOTICES

 

		24.1	Any
                                         notice, communication, statement, payment, or legal service of process required or permitted
                                         under this Agreement shall be in writing and shall be effective when hand delivered;
                                         or on the date when the notice, communication, statement, payment, or legal service of
                                         process is transmitted by confirmed electronic facsimile (with a confirmation copy sent
                                         by mail); or the day after the notice, communication, statement, payment, or legal service
                                         of process is sent by reputable overnight air courier service (e.g., Federal Express).
                                         All such communications shall be sent to the Parties at the notice addresses listed below
                                         or to such other persons and the Parties to each other may designate notice addresses
                                         as in writing.

  

    	 	 
-26-
	Initials: _______
 Initials: _______

     

    

 

	 	If
    to Licensor:	Sterling/Winters
                                         Company

        PO
        Box #1410

        Rancho
        Mirage, CA 92270

        Facsimile:
        310 557-1722

        Attention:
        Erik Sterling

        Email:
        esterling@sterlingwinters.com

         

	 	With
    a copy to:	Mr.
                                         Marty Singer

        Lavely
        & Singer Professional Corp.

        2049
        Century Park East #2400

        Los
        Angeles CA. 90067

        Email:
        MDSinger@lavelysinger.com

        Facsimile:
        (310) 556-3615

         

	 	If
    to Licensee:	Samsara
                                         Luggage, Inc.

        One
        University Plaza, Suite #505

        Hackensack,
        NJ 07601

        Phone:
        011-972-52-5345343 Israel

        Attention:
        Atara Dzikowski

        Email:
        atara@samsaraluggage.com

 

25
NEGATION OF AGENCY

 

		25.1	Licensee
                                         is an independent contractor. Nothing contained herein shall be deemed to create an agency,
                                         joint venture, franchise, or partnership relation between the Parties, and neither Party
                                         shall so hold itself out. Licensee shall have no right to obligate or bind Licensor in
                                         any manner whatsoever, and nothing contained in this Agreement shall give, or is intended
                                         to give, any rights of any kind to any third person(s).

 

26
ASSIGNABILITY

 

		26.1	This
                                         Agreement shall inure to the benefit of Licensor, its successors, and assigns, but will
                                         be personal to Licensee, and shall be assignable by Licensee only with the prior written
                                         consent of Licensor. Licensee shall not mortgage, assign, sub-license, or otherwise encumber
                                         this Agreement without the prior written consent of Licensor. Licensor shall be entitled
                                         to assign this Agreement to any third party with notice to Licensee, including any such
                                         assignment in connection with the sale or transfer of Licensor’s business, provided,
                                         however, that Licensor shall have the option to terminate this Agreement in lieu of assignment
                                         to any successor of Licensor’s business in connection with any such sale or transfer.

 

		26.2	In
                                         the event Licensor terminates this Agreement in connection with a sale of its business,
                                         Licensee shall have a period of six (6) months from the effective date of termination
                                         in which to sell off its inventory of Licensed Products, subject to the terms and conditions
                                         of this Agreement, including paying Royalties.

  

    	 	 
-27-
	Initials: _______
 Initials: _______

     

    

 

27
MODIFICATION AND WAIVER

 

		27.1	Except
                                         as otherwise provided herein, no agreement or understanding purporting to add to or to
                                         modify the terms and conditions of this Agreement shall be binding unless agreed to by
                                         the Parties in writing. Any terms and conditions set forth in any forms used by the Parties,
                                         which are in conflict with the terms and conditions of this Agreement, shall be void
                                         and have no effect. The Parties further agree that the Exhibits to this Agreement
                                         may be modified, amended, altered, and/or supplemented from time to time in writing signed
                                         by authorized representatives of the Parties.

 

		27.2	It
                                         is agreed that no waiver by either Party hereto or any breach or default of any of the
                                         provisions set forth herein shall be deemed a waiver as to any subsequent and/or similar
                                         breach or default.

 

28
GOVERNING LAW

 

		28.1	This
                                         Agreement shall be construed in accordance with and the laws of the State of California
                                         shall govern all disputes relating hereto without giving effect to any conflicts of law
                                         provisions. The Parties consent to the jurisdiction of the courts of competent jurisdiction,
                                         federal or state, situated in the State of California, County of Los Angeles for the
                                         bringing of any and all actions relating hereto. It is further agreed that, subject to
                                         mutual agreement of the Parties in writing signed by authorized representatives of the
                                         Parties, Licensor and Licensee may consider mediating disputes relating to this Agreement,
                                         if any, prior to arbitration and/or any action relating hereto.

 

29
CONFIDENTIALITY

 

		29.1	The
                                         Parties agree that the terms, conditions, and subject matter of this Agreement constitute
                                         confidential and proprietary information belonging to Licensor. Licensee agrees not to
                                         divulge any confidential and proprietary information pertaining to Licensor or this Agreement
                                         to any third party without prior written consent of Licensor. Licensee shall take any
                                         and all lawful measures to prevent the unauthorized use and/or disclosure of such confidential
                                         information, and to prevent unauthorized persons or entities from obtaining or using
                                         such information. Licensee further agrees to refrain from directly or indirectly taking
                                         any action, which would constitute or facilitate the unauthorized use or disclosure of
                                         such confidential information. Licensee may disclose such confidential and proprietary
                                         information to its officers, directors, employees, agents, and authorized representatives
                                         to the extent necessary to enable Licensee to perform its obligations under this Agreement,
                                         provided that said officers, directors, employees, agents, and/or authorized representatives
                                         execute an appropriate confidentiality agreement approved by Licensor, which by its terms
                                         shall be enforceable by injunctive relief. Licensee shall be liable for any unauthorized
                                         use and disclosure of such confidential information by its officers, directors, employees,
                                         agents, and authorized representatives, including without limitation its attorneys and
                                         accountants. The Parties further agree that any breach or threatened breach of this Section
                                         would cause irreparable harm to Licensor, that a remedy at law or in damages would be
                                         inadequate, and that the provisions of this Section may be enforced by way of injunctive
                                         relief in addition to any other rights available to Licensor in law or in equity.

  

    	 	 
-28-
	Initials: _______
 Initials: _______

     

    

 

		29.2	For
                                         purposes of this Agreement, “confidential and proprietary information” includes,
                                         but is not limited to, the terms, conditions, and subject matter of this Agreement, and
                                         Licensor’s business, including any financial, cost, pricing, and royalty information;
                                         product development, business, marketing, promotion, distribution, sales, sales plans,
                                         and strategies; information concerning Licensor’s product development and intellectual
                                         property; information concerning manufacturing processes relating to the Licensed Products,
                                         or trade secrets. The foregoing confidentiality obligations shall not apply to information
                                         that: (1) was previously known to the recipient free of any obligation to keep it
                                         confidential; (2) was independently developed by recipient; or (3) is or becomes
                                         publicly available by means other than the unauthorized disclosure by recipient.

 

		29.3	In
                                         the event that any judicial or regulatory authority requests or requires disclosure of
                                         any Confidential Information of the other party, the receiving party shall promptly notify
                                         the disclosing party of the requested or required disclosure and shall cooperate with
                                         the disclosing party in any effort to avoid or limit such disclosure.

 

30
ENTIRE AGREEMENT AND ADMISSIBILITY

 

		30.1	This
                                         Agreement constitutes the complete understanding between the Parties and supersedes any
                                         and makes void any and all prior agreements, promises, representations, or inducements,
                                         no matter their form, concerning the subject matter of this Agreement. The Parties desire
                                         that this Agreement represent a single and completely integrated contract expressing
                                         the entire agreement of the Parties with respect to the subject matter of this Agreement.
                                         No promises, agreements, or modifications to this Agreement made subsequent to the execution
                                         of this Agreement by the Parties shall be binding unless reduced to writing and signed
                                         by authorized representatives of the Parties. The Parties to this Agreement agree that
                                         this Agreement may be used as evidence in any subsequent proceeding in which any Party
                                         alleges a breach of this Agreement or seeks to enforce its terms, provisions, or obligations.

 

31
SEVERABILITY

 

		31.1	Whenever
                                         possible, each provision of this Agreement shall be interpreted in such a manner to be
                                         effective and valid under applicable law. Should any of the provisions or terms of this
                                         Agreement be determined illegal, invalid, or unenforceable by any court of competent
                                         jurisdiction, validity of the remaining parts, terms, or provisions shall not be affected
                                         thereby, and said illegal, invalid, or unenforceable part, term, or provision shall be
                                         deemed not to be a part of this Agreement.

 

32
RECITALS & PARAGRAPH HEADINGS

 

		32.1	The
                                         terms of this Agreement are contractual, not a mere recital, and are the result of joint
                                         negotiations between, and joint drafting by, the Parties, and are therefore not to be
                                         construed in favor of or against either Party. All recitals are incorporated by reference
                                         into this Agreement. Caption and Paragraph headings are used for convenience and reference
                                         only, are no part of this Agreement, and shall not be used in interpreting, construing,
                                         defining, limiting, extending, or describing the scope of this Agreement, or any provision
                                         hereof, in any way.

  

    	 	 
-29-
	Initials: _______
 Initials: _______

     

    

 

33
ATTORNEY FEES AND COSTS

 

		33.1	Should
                                         any action be necessary to enforce the terms of this Agreement, the prevailing Party
                                         will be entitled to recover reasonable attorneys’ fees and costs.

 

34
EXECUTION OF COUNTERPARTS

 

		34.1	This
                                         Agreement may be executed in two or more duplicate bond or facsimile counterparts, each
                                         of which shall be considered an original, but all of which together shall constitute
                                         one and the same instrument, and in pleading or proving any provision of the Agreement,
                                         it shall not be necessary to produce more than one such counterpart.

 

35
EQUITABLE RELIEF

 

		35.1	The
                                         Parties acknowledge that the subject matter of this Agreement relates to services and
                                         rights, which are extraordinary and unique, and which cannot be replaced or adequately
                                         compensated in money damages, and any breach by Licensee of this Agreement will cause
                                         irreparable injury to Licensor.

 

36
ARBITRATION

 

		36.1	Arbitration
                                         - Mandatory Confidential Binding Arbitration of Disputes. The exclusive manner
                                         of resolution of any and all future disputes or controversies of any kind or nature between
                                         the Parties, however characterized, including without limitation any claim arising from
                                         alleged unauthorized disclosure of Confidential Information, any claim for breach, non-performance,
                                         specific enforcement, enforcement, interpretation or validity of this Agreement, among
                                         other claims, shall be pursuant to the procedures set forth below for Mandatory Confidential
                                         BINDING Arbitration. Mandatory Confidential BINDING Arbitration shall take
                                         place in Los Angeles, California administered by either JAMS (“JAMS”)
                                         under the JAMS Comprehensive Arbitration Rules and Procedures (“JAMS Rules,”
                                         available at http://www.jamsadr.com/), applying California law. The Parties expressly
                                         consent to such jurisdiction and venue. Such Arbitration shall be before one neutral
                                         Arbitrator selected either by mutual agreement of the Parties or selected pursuant to
                                         JAMS Rules. Any papers required to be delivered or served on the Parties in connection
                                         with such Arbitration may be sent pursuant to this Agreement’s Notice provisions.

 

		36.2	The
                                         Arbitration proceeding and hearing shall be confidential and shall constitute Confidential
                                         Information protected from disclosure by this Agreement. All costs, fees, expenses and/or
                                         charges required to be paid to the Arbitrator and/or JAMS shall be borne pursuant to
                                         JAMS Rules, subject to reassessment in favor of the prevailing Party, who shall be entitled
                                         to recovery of same. The Parties shall have the right to conduct discovery in accordance
                                         with California Code of Civil Procedure § 1283.05 et seq. and the written
                                         discovery requests and discovery results shall be deemed to constitute Confidential Information.
                                         The Arbitrator shall render a written opinion which contains his/her factual and legal
                                         reasoning. The decision of the Arbitrator shall be binding and conclusive on the Parties
                                         and not reviewable or appealable other than as provided by California law.

  

		36.3	Whether
                                         a dispute is arbitrable and enforceability of this Agreement shall be determined by the
                                         Arbitrator and not by any court. The Arbitrator shall be empowered to rule on his/her
                                         own jurisdiction, and shall have the right to impose any and all legal and equitable
                                         remedies that would be available to any Party before any governmental dispute resolution
                                         forum or court of competent jurisdiction, including without limitation temporary, preliminary
                                         and permanent injunctive relief, compensatory damages, actual damages, liquidated damages,
                                         accounting, disgorgement, specific performance, attorneys’ fees and costs, and
                                         punitive damages. In the event of any actual or threatened breach of this Agreement may
                                         cause a Party irreparable harm, such Party may seek on an expedited basis pursuant to
                                         JAMS Rules ex parte issuance of a restraining order and preliminary injunction
                                         or interim award.

 

		36.4	If
                                         a request for extraordinary and/or immediate provisional relief is filed by a Party and
                                         if no Arbitrator has been appointed, JAMS shall appoint an Arbitrator who shall determine
                                         the request at the earliest practicable time. The Arbitrator so appointed shall be determined
                                         by JAMS in its discretion not to have any material disclosure as to any Party or counsel,
                                         and the Parties shall waive the right to formal disclosure and the right to disqualify
                                         the arbitrator so appointed as otherwise permitted by the California Arbitration Act.
                                         The Parties understand that these waivers are intended to effectuate their agreed process
                                         of immediate determination of a request for provisional relief.

   

    	 	 
-30-
	Initials: _______
 Initials: _______

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this instrument to be duly executed as of the day and year first above written.

  

	 	Sterling/Winters
    Company, a California Corporation, DBA: MIVITM  LLC:
	 	 
	 	By:	/s/
    Tommy Meharey
	 	 	Name: Tommy Meharey
	 	 	Title: Co-Founder
	 	Date: July
    30, 2019
	 	 
	 	Samsara
    Luggage Inc.:
	 	 
	 	By:	/s/
    Atara Feiglin Dzikowski
	 	 	Name: Atara Feiglin
    Dzikowski
	 	 	Title: CEO
	 	Date: July
    24, 2019

  

    	 	 
-31-
	Initials: _______
 Initials: _______

     

    

 

EXHIBIT
A

Licensed
Property

 

		1.	Tommy
                                         Meharey MIVITM

 

		2.	Tommy
                                         Meharey likeness, only as approved in writing by Licensor and only in connection with
                                         the Licensed Products specified in Exhibit B to this Agreement.

 

		3.	MIVITM
                                         logo(s) only for the Licensed Products specified in Exhibit B to this
                                         Agreement and only as shown in the following specimen(s):

 

		4.	Licensor
                                         may designate other supporting brands or categories, in writing from time to time.

 

    	 	 
-32-
	Initials: _______
 Initials: _______

     

    

 

EXHIBIT
B

 

LICENSED
PRODUCTS:

 

Aluminum
Smart Hi-Tech Luggage

 

CHANNELS
OF DISTRIBUTION:

 

[Insert
Channels of distribution]; and,

Retail
websites owned and operated by retailers in the above channels

 

Mass
Market and Low Tier Department Stores (i.e., Wal-Mart, K-Mart, Target, and Sears), as well as club stores (i.e. Sam’s),
are specifically excluded from the approved Channels of Distribution under this Agreement. Internet Retailers will be handled
on an individually, approved by Licensor basis. Internet and Electronic channels of distribution must maintain the integrity of
the Brand

 

Televised
retail channels (HSN, QVC, etc.) are approved Channels of Distribution. However, acceptance of any channels of distribution must
not require the personal appearance of Tommy Meharey.

  

    	 	 
-33-
	Initials: _______
 Initials: _______

     

    

 

EXHIBIT
C

 

CODE
OF CONDUCT

 

行为守则

 

1.
PURPOSE: [LICENSEE] is committed to using only manufacturers to strive to conduct business in a highly professional and ethical
manner. This document outlines those commitments each facility makes in respect to its compliance with applicable law and tis
personal practices and policies.

 

1.目的:[被许可人]承诺只使用了力争在一个高度专业和道德的方式开展业务的厂家。本文概述了这些各设施使得在尊重其遵守适用的法律和个人的做法和政策的承诺。

 

2.
CHILD LABOR: The facility agrees not to use child labor in the manufacturing, or distribution of the Goods. The term “child”
refers to a person younger than the local legal minimum age for employment or the age for completing compulsory education; provided,
however, in no event shall the Facility use any person below the age of (15) fifteen. The Facility also agrees to comply with
all other Laws applicable to employees, regardless of the age of an employee.

 

2.
童工:该中心同意不使用童工在制造,或货物配送。
“童工”是指一个人年龄低于当地法定最低就业年龄或年龄在完成义务教育;提供的,但是,在任何情况下,基金使用任何人(15)15岁以下。该基金还同意遵守适用于所有员工的其他法律,不论雇员的年龄。

 

3.FORCED
LABOR: The Facility agrees to employ only persons whose presence is voluntary. The Facility agrees not to use any forced or involuntary
labor, whether prison, bonded, indentured or otherwise.

 

3.
强迫劳动:该基金同意只雇用人员,其存在是自愿的。该基金同意不使用任何强迫或非自愿劳动,无论是监狱,保税,契约或其他方面。

 

4.
ABUSE OF LABOR: The Facility agrees to treat each employee with dignity and respect and not to use corporal punishment, threats
of violence, or other forms of physical, sexual, psychological or verbal harassment or abuse.

 

4.
滥用劳动:该基金同意把每个员工的尊严和尊重,不使用体罚,暴力威胁或其他形式的身体,性,心理或言语上的骚扰或虐待。

  

    -33-

     

    

 

5.
NON-DISCRIMINATION: The Facility agrees not to discriminate in hiring and employment practices, including salary, benefits, advancement,
discipline, termination, or retirement on the basis of race, religion, age, nationality, social or ethnic origin, sexual orientation,
gender, political opinion or disability.

 

5.
不歧视:该基金同意不会在雇佣和招聘活动,包括工资,福利,晋升,纪律,终止或退休种族,宗教,年龄,国籍,社会或民族,性取向,性别的基础上歧视,政治观点或残疾。

 

6.
ASSOCIATION: The Facility agrees to follow employees to organize and bargain collectively without penalty or interference in accordance
with local Laws.

 

6.
关联关系:该基金同意遵守雇员组织和集体谈判不受处罚或干预按照当地的法律。

 

7.
WAGES, DENEFITS AND WORKING HOURS: The facility recognizes that wages are essential to meeting employee’s basic needs. The
Facility agrees to comply, at a minimum, with all applicable wages and hour Laws, including minimum wage, overtime hours, maximum
hours, piece rates and other elements of compensation and shall provide legally mandated benefits.

 

7.
工资,福利和工作时间:该厂认识到,工资是必要的,以满足员工的基本需求。该基金同意遵守,至少,所有适用的工资和工时的法律,包括最低工资,加班,最长工时,计件工资和补偿等内容,并应提供法定福利。

 

8.
HEALTH AND SAFETY: The Facility agrees to provide employees with a safe and healthy workplace environment in accordance with all
applicable Laws, ensuring at a minimum, reasonable access to potable water and sanitary facilities, fine safety and adequate lighting
and ventilation. The Facility also agrees to ensure that the same standards of health and safety are applied to any housing it
provides for employees.

 

8.
健康和安全:该基金同意为员工提供一个安全和健康的工作环境符合所有适用法律,确保在最低限度,合理获得饮用水和卫生设施,精美的安全性和足够的照明和通风。该基金也同意,以确保健康和安全的相同标准适用于它提供了雇员的住房

 

9.
COMPLIANCE: The Facility agrees to take appropriate steps to ensure that the provisions of the COC are communicated to its employees,
including by prominent posting a copy of this COC in the local language on one or more bulletin boards in places readily accessible
to employees at all times.

 

9.
合规性:本基金同意采取适当措施,以确保奥委会的规定传达给员工,其中包括由著名张贴在当地语言的一个或多个电子公告板的名额该行为准则的副本容易获得员工的所有次。

  

    -34-

     

    

 

10.
ENVIRONMENT: Business partners should share our concern for the environment and adhere to their local and national laws regarding
the protection and preservation of the environment.

 

10.
环境:业务合作伙伴应该分享我们对环境的关注,并坚持对环境的保护和维护当地和国家法律。

 

11.
LEGAL REQUIREMENTS: Business partners should be in compliance with all legal requirements involved in conducting the business.

 

11.
法律要求:业务合作伙伴应符合参与开展业务的所有法律要求。

 

12.
Our Business Partners are required to provide full access to their facilities and those of their manufacturers, vendors and subcontractors,
and to release records relating to employment practices. We may conduct on-site inspections of facilities to monitor the standards
and assure the quality of our products.

 

12.
我们的业务合作伙伴必须提供完全访问他们的设备和那些他们的制造商,供应商和分包商,并发布有关用工行为记录。我们可以进行现场视察设施,以监控标准,确保了产品的质量。

 

Please
report Violations Anonymously by emailing to: esterling@sterlingwinters.com

 

esterling@sterlingwinters.com:请通过电子邮件以匿名方式举报违规行为

  

    -35-

     

    

 

EXHIBIT
E

 

Approved
Royalty Report Form

  

    -36-

     

    

 

EXHIBIT
F

 

Approved
Licensing Statement

 

Manufactured
and distributed by.

Samsara
Luggage

On
behalf of MIVITM LLC.

 

Website

 

TBD

  

    -37-

     

    

 

EXHIBIT
G

 

REQUIRED
INSURANCE CERTIFICATE

 

Under
Description of Operations state the following: 

 

Certificate
Holder Kathy Ireland, kathy ireland® Worldwide, kathy ireland® LLC, The Sterling/Winters Company,
and Moretz Marketing LLC it’s partners, subsidiaries, affiliates; their directors, officers and employees are
named additional insured with regards to liability arising out of operations of the named insured.

 

The
Certificate Holder should be listed as:

 

kathy
ireland® Worldwide  

PO
Box #1410 

Rancho
Mirage, CA., 92270

 

Send
copies of Certificate to: 

 

kathy
ireland® Worldwide

Erik
Sterling

FinancialCommittee@sterlingwinters.com

 

Mitchka
Lyonnais

mlyonnais@mmibi.com

Momentous
Insurance Brokerage, Inc.

  

-
END OF CONTRACT-

 

-38-

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