Document:

Exhibit 10.1

 

VOTING
AGREEMENT

 

This
VOTING AGREEMENT (this “Agreement”), is made and entered into as of this 31st day of May, 2019, by
and among Freedom Leaf Inc., a Nevada corporation (the “Company”), those certain stockholders of the Company
listed on Schedule A attached hereto (the “Existing Holders”) and those certain stockholders of the Company
listed on Schedule B attached hereto (the “Key Holders” and, together with the Existing Holders and any
subsequent stockholders who become parties hereto, the “Stockholders”).

 

RECITALS

 

WHEREAS,
concurrently with the execution of this Agreement, the Company has entered into a Membership Interest Purchase Agreement (the “Purchase
Agreement”), pursuant to which the Company acquired 100% of the membership or other ownership interests of ECS Labs LLC,
a Texas limited liability company (the “Acquisition”);

 

WHEREAS,
pursuant to the terms of the Purchase Agreement, as a condition to the closing of the Acquisition, the Stockholders have agreed
to enter into this Agreement in order to set forth their agreements and understandings with respect to how shares of the capital
stock of the Company held by them will be voted on.

 

NOW,
THEREFORE, the parties agree as follows:

 

1.              
Voting Provisions Regarding the Board.

 

1.1           
Size of the Board. Each Stockholder agrees to vote, or cause to be voted, all Shares (as defined below) owned by
such Stockholder, or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as
shall be necessary to ensure that the size of the Board shall be set and remain at six (6) directors. For purposes of this Agreement,
the term “Shares” shall mean and include any securities of the Company that the holders of which are entitled
to vote for members of the Board, including without limitation, all shares of common stock, par value $0.001 per share, of the
Company (“Common Stock”) and preferred stock, par value $0.001 per share, of the Company (“Preferred
Stock”), by whatever name called, now owned or subsequently acquired by a Stockholder, however acquired, whether through
stock splits, stock dividends, reclassifications, recapitalizations, similar events or otherwise.

 

1.2           
Board Composition. Each Stockholder agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or
over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to
ensure that at each annual or special meeting of stockholders at which an election of directors is held or pursuant to any written
consent of the stockholders, subject to Section 5, the following persons shall be elected to the Board:

 

(a)            
Two Persons designated from time to time by Merida Capital Partners II, LP (the “Existing Holder Designees”),
for so long as such Stockholder and its Affiliates (as defined below) continue to own beneficially any shares of Common Stock
(including shares of Common Stock issued or issuable upon conversion of the Preferred Stock), which individuals shall initially
be David Goldburg and David Vautrin;

 

(b)            
Two Persons designated from time to time by the holders of a majority of the shares of Common Stock held by the Key Holders,
for so long as the Key Holders who are then providing services to the Company as officers, employees or consultants continue to
own beneficially any shares of Common Stock, which individuals shall initially be Carlos Frias and Daniel Nguyen (the “ECS
Directors”);

 

(c)            
One Person designated from time to time by Clifford Perry (the “Perry Designee”), for so long as such
Stockholder continues to own beneficially at least 80% of the Shares held by such Stockholder as of the date hereof (including
shares of Common Stock issued or issuable upon conversion of the Preferred Stock), which individual shall initially be Clifford
Perry; and

 

 

 

    	 	1	 

     

    

 

(d)            
One Person designated from time to time by Raymond Medeiros (the “Medeiros Designee”), for so long as
such Stockholder continues to own beneficially at least 80% of the Shares held by such Stockholder as of the date hereof (including
shares of Common Stock issued or issuable upon conversion of the Preferred Stock), which individual shall initially be Raymond
Medeiros.

 

For
purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust or any
other entity (collectively, a “Person”) shall be deemed an “Affiliate” of another Person
who, directly or indirectly, controls, is controlled by or is under common control with such Person, including, without limitation,
any general partner, managing member, officer, director or trustee of such Person, or any venture capital fund or registered investment
company now or hereafter existing that is controlled by one or more general partners, managing members or investment advisers of,
or shares the same management company or investment adviser with, such Person.

 

1.3           
Failure to Designate a Board Member. In the absence of any designation from the Persons or groups with the right
to designate a director as specified above, the director previously designated by them and then serving shall be reelected if still
eligible and willing to serve as provided herein and otherwise, such Board seat shall remain vacant.

 

1.4           
Removal of Board Members. Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder,
or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary
to ensure that:

 

(a)            
no director elected pursuant to Sections 1.2 or 1.3 of this Agreement may be removed from office other than
for cause unless (i) such removal is directed or approved by the affirmative vote of the Person(s), or of the holders of at least
a majority of the Shares, entitled under Section 1.2 to designate that director; or (ii) the Person(s) originally entitled
to designate or approve such director or occupy such Board seat pursuant to Section 1.2 is no longer so entitled to designate
or approve such director or occupy such Board seat;

 

(b)            
any vacancies created by the resignation, removal or death of a director elected pursuant to Sections 1.2 or 1.3
shall be filled pursuant to the provisions of this Section 1.4;

 

(c)            
upon the request of any party entitled to designate a director as provided in Section 1.2(a), 1.2(b),
1.2(c) or 1.2(d) to remove such director, such director shall be removed.

 

All
Stockholders agree to execute any written consents required to perform the obligations of this Section 1, and the Company
agrees at the request of any Person or group entitled to designate directors to call a special meeting of stockholders for the
purpose of electing directors.

 

1.5           
No Liability for Election of Recommended Directors. No Stockholder, nor any Affiliate of any Stockholder, shall have
any liability as a result of designating a person for election as a director for any act or omission by such designated person
in his or her capacity as a director of the Company, nor shall any Stockholder have any liability as a result of voting for any
such designee in accordance with the provisions of this Agreement.

 

1.6           
No “Bad Actor” Designees. Each Person with the right to designate or participate in the designation of
a director as specified above hereby represents and warrants to the Company that, to such Person’s knowledge, none of the
“bad actor” disqualifying events described in Rule 506(d)(1)(i)-(viii) under the Securities Act of 1933, as amended
(the “Securities Act”) (each, a “Disqualification Event”), is applicable to such Person’s
initial designee named above except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3)
is applicable. Any director designee to whom any Disqualification Event is applicable, except for a Disqualification Event to which
Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable, is hereinafter referred to as a “Disqualified Designee”.
Each Person with the right to designate or participate in the designation of a director as specified above hereby covenants and
agrees (A) not to designate or participate in the designation of any director designee who, to such Person’s knowledge, is
a Disqualified Designee and (B) that in the event such Person becomes aware that any individual previously designated by any such
Person is or has become a Disqualified Designee, such Person shall as promptly as practicable take such actions as are necessary
to remove such Disqualified Designee from the Board and designate a replacement designee who is not a Disqualified Designee.

 

 

 

    	 	2	 

     

    

 

2.              
Vote to Increase Authorized Common Stock. Each Stockholder agrees to vote or cause to be voted all Shares owned by
such Stockholder, or over which such Stockholder has voting control, from time to time and at all times, in whatever manner as
shall be necessary to increase the number of authorized shares of Common Stock from time to time to ensure that there will be sufficient
shares of Common Stock available for conversion of all of the shares of Preferred Stock outstanding at any given time.

 

3.              
Remedies.

 

3.1           
Covenants of the Company. The Company agrees to use its best efforts, within the requirements of applicable law,
to ensure that the rights granted under this Agreement are effective and that the parties enjoy the benefits of this Agreement.
Such actions include, without limitation, the use of the Company’s best efforts to cause the nomination and election of the
directors as provided in this Agreement.

 

3.2           
Specific Enforcement. Each party acknowledges and agrees that each party hereto will be irreparably damaged in the
event any of the provisions of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise
breached. Accordingly, it is agreed that each of the Company and the Stockholders shall be entitled to an injunction to prevent
breaches of this Agreement, and to specific enforcement of this Agreement and its terms and provisions in any action instituted
in any court of the United States or any state having subject matter jurisdiction.

 

3.3           
Remedies Cumulative. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall
be cumulative and not alternative.

 

4.              
“Bad Actor” Matters.

 

 

 

4.1           
Definitions. For purposes of this Agreement:

 

(a)  
“Company Covered Person” means, with respect to the Company as an “issuer” for purposes of
Rule 506 promulgated under the Securities Act, any Person listed in the first paragraph of Rule 506(d)(1).

 

(b)  
“Disqualified Designee” means any director designee to whom any Disqualification Event is applicable,
except for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.

 

(c)  
“Disqualification Event” means a “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii)
promulgated under the Securities Act.

 

(d)  
“Rule 506(d) Related Party” means, with respect to any Person, any other Person that is a beneficial
owner of such first Person’s securities for purposes of Rule 506(d) under the Securities Act. 

 

4.2           
Representations.

 

(a)  
Each Person with the right to designate or participate in the designation of a director pursuant to this Agreement hereby
represents that (i) such Person has exercised reasonable care to determine whether any Disqualification Event is applicable to
such Person, any director designee designated by such Person pursuant to this Agreement or any of such Person’s Rule 506(d)
Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable
and (ii) no Disqualification Event is applicable to such Person, any Board member designated by such Person pursuant to this Agreement
or any of such Person’s Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule
506(d)(2)(ii) or (iii) or (d)(3) is applicable. Notwithstanding anything to the contrary in this Agreement, each Existing Holder
makes no representation regarding any Person that may be deemed to be a beneficial owner of the Company’s voting equity securities
held by such Existing Holder solely by virtue of that Person being or becoming a party to (x) this Agreement, as may be subsequently
amended, or (y) any other contract or written agreement to which the Company and such Existing Holder are parties regarding (1)
the voting power, which includes the power to vote or to direct the voting of, such security; and/or (2) the investment power,
which includes the power to dispose, or to direct the disposition of, such security.

 

 

 

    	 	3	 

     

    

 

(b)  
The Company hereby represents and warrants to the Existing Holders that no Disqualification Event is applicable to the Company
or, to the Company’s knowledge, any Company Covered Person, except for a Disqualification Event as to which Rule 506(d)(2)(ii–iv)
or (d)(3) is applicable.

 

4.3           
Covenants. Each Person with the right to designate or participate in the designation of a director pursuant to this
Agreement covenants and agrees (i) not to designate or participate in the designation of any director designee who, to such Person’s
knowledge, is a Disqualified Designee, (ii) to exercise reasonable care to determine whether any director designee designated by
such person is a Disqualified Designee, (iii) that in the event such Person becomes aware that any individual previously designated
by any such Person is or has become a Disqualified Designee, such Person shall as promptly as practicable take such actions as
are necessary to remove such Disqualified Designee from the Board and designate a replacement designee who is not a Disqualified
Designee, and (iv) to notify the Company promptly in writing in the event a Disqualification Event becomes applicable to such Person
or any of its Rule 506(d) Related Parties, or, to such Person’s knowledge, to such Person’s initial designee named
in Section 1, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable.

 

5.              
 Term. This Agreement shall be effective as of the date hereof and shall continue in effect until and shall terminate
upon the earliest to occur of (a) the consummation of a sale of the Company and distribution of proceeds to or escrow for the benefit
of the Stockholders in accordance with the Company’s articles of incorporation; or (b) termination of this Agreement in accordance
with Section 6.7.

 

6.              
Miscellaneous.

 

6.1           
Transfers. Each transferee or assignee of any Shares subject to this Agreement shall continue to be subject to the
terms hereof, and, as a condition precedent to the Company’s recognition of such transfer, each transferee or assignee shall
agree in writing to be subject to each of the terms of this Agreement by executing and delivering an Adoption Agreement substantially
in the form attached hereto as Exhibit A. Upon the execution and delivery of an Adoption Agreement by any transferee, such
transferee shall be deemed to be a party hereto as if such transferee were the transferor and such transferee’s signature
appeared on the signature pages of this Agreement and shall be deemed to be an Existing Holder and Stockholder, or Key Holder and
Stockholder, as applicable. The Company shall not permit the transfer of the Shares subject to this Agreement on its books or issue
a new certificate representing any such Shares unless and until such transferee shall have complied with the terms of this Section
6.1. Each certificate instrument, or book entry representing the Shares subject to this Agreement if issued on or after the
date of this Agreement shall be notated by the Company with the legend set forth in Section 6.11.

 

6.2           
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. Nothing in this Agreement, express or implied, is intended to confer upon
any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement.

 

6.3           
Governing Law. This Agreement shall be governed by the internal law of the State of Nevada, without regard to conflict
of law principles that would result in the application of any law other than the law of the State of Nevada.

 

6.4           
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic
mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com)
or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid
and effective for all purposes.

 

6.5           
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to
be considered in construing or interpreting this Agreement.

 

 

 

    	 	4	 

     

    

 

6.6           
Notices.

 

(a)            
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic
mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s
next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage
prepaid, or (d) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight
prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective
parties at their address as set forth on Schedule A or Schedule B hereto, or to such email address, facsimile number
or address as subsequently modified by written notice given in accordance with this Section 6.6. If notice is given to the
Company, a copy shall also be sent to Kleinberg, Kaplan, Wolff & Cohen, P.C., 551 Fifth Avenue, New York, NY 10017, Attn: Jonathan
Ain, Esq., and if notice is given to the Key Holders, a copy shall also be given to Adam Foster Law, 717 17th Street,
Suite 1900, Denver CO 90202, Attn: Adam Foster, Esq.

 

(b)            
Consent to Electronic Notice. Each Existing Holder and Key Holder consents to the delivery of any stockholder notice
pursuant to the Nevada Revised Statutes (the “NRS”), as amended or superseded from time to time, by electronic
transmission at the electronic mail address or the facsimile number set forth below such Existing Holder’s or Key Holder’s
name on the Schedules hereto, as updated from time to time by notice to the Company, or as reflected on the books and records of
the Company. Each Existing Holder and Key Holder agrees to promptly notify the Company of any change in its electronic mail address,
and that failure to do so shall not affect the foregoing.

 

6.7           
Consent Required to Amend, Modify, Terminate or Waive. This Agreement may be amended, modified or terminated (other
than pursuant to Section 4.1) and the observance of any term hereof may be waived (either generally or in a particular instance
and either retroactively or prospectively) only by a written instrument executed by (a) the Company; and (b) the Stockholders holding
a majority of the Shares (including securities or rights convertible into, or exercisable or exchangeable for, Shares) then held
by the Existing Holders and the Key Holders who are then providing services to the Company as officers, employees or consultants
(voting together as a single class). Notwithstanding the foregoing:

 

(a)            
this Agreement may not be amended, modified or terminated and the observance of any term of this Agreement may not be waived
with respect to any Existing Holder or Key Holder without the written consent of such Existing Holder or Key Holder unless such
amendment, modification, termination or waiver applies to all Existing Holders or Key Holders, as the case may be, in the same
fashion;

 

(b)            
the provisions of Section 1.2(a) and this Section 6.7(b) may not be amended, modified, terminated or waived
without the written consent of Merida Capital Partners II, LP;

 

(c)            
the provisions of Section 1.2(b) and this Section 6.7(c) may not be amended, modified, terminated or waived
without the written consent of the Key Holders who are at such time providing services to the Company as an officer, employee or
consultant;

 

(d)            
the provisions of Section 1.2(c) and this Section 6.7(d) may not be amended, modified, terminated or waived
without the written consent of Clifford Perry;

 

(e)            
the provisions of Section 1.2(d) and this Section 6.7(e) may not be amended, modified, terminated or waived
without the written consent of Raymond Medeiros; and

 

(f)             
any provision hereof may be waived by the waiving party on such party’s own behalf, without the consent of any other
party.

 

The Company
shall give prompt written notice of any amendment, modification, termination, or waiver hereunder to any party that did not consent
in writing thereto. Any amendment, modification, termination, or waiver effected in accordance with this Section 6.7 shall
be binding on each party and all of such party’s successors and permitted assigns, whether or not any such party, successor
or assignee entered into or approved such amendment, modification, termination or waiver. For purposes of this Section 6.7,
the requirement of a written instrument may be satisfied in the form of an action by written consent of the Stockholders circulated
by the Company and executed by the Stockholder parties specified, whether or not such action by written consent makes explicit
reference to the terms of this Agreement.

 

 

 

    	 	5	 

     

    

 

6.8           
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this
Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of
such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default previously or thereafter occurring. Any waiver, permit, consent or approval of any
kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party
of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set
forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative
and not alternative.

 

6.9           
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision.

 

6.10        
Entire Agreement. This Agreement (including the Exhibits hereto) and the other Ancillary Agreements (as defined in
the Purchase Agreement) constitute the full and entire understanding and agreement between the parties with respect to the subject
matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly
canceled.

 

6.11        
Share Certificate Legend. Each certificate, instrument, or book entry representing any Shares issued after the date
hereof shall be notated by the Company with a legend reading substantially as follows:

 

THE
COMMON STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN VOTING REQUIREMENTS AND OTHER RESTRICTIONS SET FORTH IN A VOTING
AGREEMENT BETWEEN THE HOLDER OF THIS CERTIFICATE AND CERTAIN OTHER PARTIES. TRANSFER OF THE COMMON STOCK IS SUBJECT TO THE RESTRICTIONS
CONTAINED IN SUCH AGREEMENT.

 

The Company,
by its execution of this Agreement, agrees that it will cause the certificates instruments, or book entry evidencing the Shares
issued after the date hereof to be notated with the legend required by this Section 6.11 of this Agreement, and it shall
supply, free of charge, a copy of this Agreement to any holder of such Shares upon written request from such holder to the Company
at its principal office. The parties to this Agreement do hereby agree that the failure to cause the certificates, instruments,
or book entry evidencing the Shares to be notated with the legend required by this Section 6.11 herein and/or the failure
of the Company to supply, free of charge, a copy of this Agreement as provided hereunder shall not affect the validity or enforcement
of this Agreement.

 

6.12        
Stock Splits, Stock Dividends, etc. In the event of any issuance of Shares or the voting securities of the Company
hereafter to any of the Stockholders (including, without limitation, in connection with any stock split, stock dividend, recapitalization,
reorganization, or the like), such Shares shall become subject to this Agreement and shall be notated with the legend set forth
in Section 6.12.

 

6.13        
Manner of Voting. The voting of Shares pursuant to this Agreement may be effected in person, by proxy, by written
consent or in any other manner permitted by applicable law. For the avoidance of doubt, voting of the Shares pursuant to the Agreement
need not make explicit reference to the terms of this Agreement.

 

6.14        
Further Assurances. At any time or from time to time after the date hereof, the parties agree to cooperate with each
other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such
further action as the other party may reasonably request in order to carry out the intent of the parties hereunder.

 

6.15        
Dispute Resolution The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state
courts of Nevada and to the jurisdiction of the United States District Court for the District of Nevada for the purpose of any
suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other
proceeding arising out of or based upon this Agreement except in the state courts of Nevada or the United States District Court
for the District of Nevada, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any
such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that
its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient
forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not
be enforced in or by such court.

 

 

 

    	 	6	 

     

    

 

6.16        
SEPARATE COUNSEL. EACH PARTY ACKNOWLEDGES THAT IT HAS BEEN ADVISED TO RETAIN LEGAL COUNSEL AND HAS OTHERWISE HAD
THE OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL PRIOR TO EXECUTING THIS AGREEMENT.

 

6.17        
WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON
OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE
SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE
TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES
HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT
SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

6.18        
Costs of Enforcement. If any party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings,
the non-prevailing party shall pay all costs and expenses incurred by the prevailing party, including, without limitation, all
reasonable attorneys’ fees.

 

6.19        
Aggregation of Stock. All Shares held or acquired by a Stockholder and/or its Affiliates shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement, and such Affiliated persons may apportion such
rights as among themselves in any manner they deem appropriate.

 

6.20        
Spousal Consent. If any individual Stockholder is married on the date of this Agreement, such Stockholder’s
spouse shall execute and deliver to the Company a consent of spouse in the form of Exhibit B hereto (“Consent of
Spouse”), effective on the date hereof. Notwithstanding the execution and delivery thereof, such consent shall not be
deemed to confer or convey to the spouse any rights in such Stockholder’s Shares that do not otherwise exist by operation
of law or the agreement of the parties. If any individual Stockholder should marry or remarry subsequent to the date of this Agreement,
such Stockholder shall within thirty (30) days thereafter obtain his/her new spouse’s acknowledgement of and consent to the
existence and binding effect of all restrictions contained in this Agreement by causing such spouse to execute and deliver a Consent
of Spouse acknowledging the restrictions and obligations contained in this Agreement and agreeing and consenting to the same.

 

[Signature
Page Follows]

 

 

 

    	 	7	 

     

    

 

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

 

	 	FREEDOM LEAF INC.
	 	 
	 	By:  /s/ Raymond Medeiros
	 	Name: Raymond Medeiros 
	 	Title: Executive Vice President & Corporate Secretary

 

 

 

 

 

 

 

Signature
Page to Voting Agreement

 

 

    	 	8	 

     

    

 

 

	 	EXISTING HOLDERS:
	 	 
	 	MERIDA CAPITAL PARTNERS II LP
	 	By:  Merida Manager II  LLC, its general partner
	 	 
	 	By:    /s/ Mitchell Baruchowitz
	 	Name:  Mitchell Baruchowitz
	 	Title:     Manager
	 	 
	 	Signature:   /s/ Clifford J. Perry
	 	Name: Clifford J. Perry
	 	 
	 	Signature:  /s/  Raymond Medeiros
	 	Name: Raymond Medeiros
	 	 
	 	Signature:  /s/ Richard Cowan
	 	Name: Richard Cowan

 

 

 

 

 

 

 

Signature
Page to Voting Agreement

 

 

    	 	9	 

     

    

 

 

	 	KEY HOLDERS:
	 	 
	 	Signature:  /s/  Carlos Frias
	 	Name:  Carlos Frias
	 	 
	 	 
	 	Signature:  /s/ Ngoc Quang Nguyen
	 	Name:  Ngoc Quang (Daniel) Nguyen
	 	 
	 	 
	 	Signature:  /s/  Alex Frias
	 	Name:  Alex Frias

 

 

 

 

 

 

 

 

Signature
Page to Voting Agreement

 

 

    	 	10	 

     

    

 

SCHEDULE
A

 

EXISTING
HOLDERS

 

	Name and Address	Number of Shares Held
	 	 
	
        Merida
Capital Partners II, LP

        [REDACTED]
	17,000,000
	 	 
	
        Clifford
Perry

        [REDACTED]
	12,357,542
	 	 
	
        Raymond
Medeiros

        [REDACTED]
	7,449,228
	 	 
	
        Richard
Cowan

        [REDACTED]
	2,463,043

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	11	 

     

    

 

 

SCHEDULE
B

 

KEY
HOLDERS

 

	Name and Address	Number of Shares Held
	 	 
	
        Carlos
Frias

        [REDACTED
	22,987,654
	 	 
	
        Ngoc
Quang (Daniel) Nguyen

        [REDACTED 
	22,987,654
	 	 
	
        Alex
Frias

        [REDACTED]

        
	17,456,790

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	12	 

     

    

EXHIBIT
A

 

ADOPTION
AGREEMENT

 

This
Adoption Agreement (“Adoption Agreement”) is executed on ___________________, 2019, by the undersigned (the
“Holder”) pursuant to the terms of that certain Voting Agreement dated as of May 31, 2019 (the “Agreement”),
by and among the Company and certain of its Stockholders, as such Agreement may be amended or amended and restated hereafter. Capitalized
terms used but not defined in this Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement.
By the execution of this Adoption Agreement, the Holder agrees as follows.

 

1.1       Acknowledgement.
Holder acknowledges that Holder is acquiring certain shares of the capital stock of the Company (the “Stock”)
[or options, warrants, or other rights to purchase such Stock (the “Options”),] for one of the following reasons
(Check the correct box):

 

		 ̈	As a transferee of Shares from a party in such party’s capacity as an “Existing Holder”
bound by the Agreement, and after such transfer, Holder shall be considered an “Existing Holder” and a “Stockholder”
for all purposes of the Agreement.

 

		 ̈	As a transferee of Shares from a party in such party’s capacity as a “Key Holder”
bound by the Agreement, and after such transfer, Holder shall be considered a “Key Holder” and a “Stockholder”
for all purposes of the Agreement.

 

1.2       Agreement.
Holder hereby (a) agrees that the Stock [Options], and any other shares of capital stock or securities required by the Agreement
to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force
and effect as if Holder were originally a party thereto.

 

1.3       Notice.
Any notice required or permitted by the Agreement shall be given to Holder at the address or facsimile number listed below Holder’s
signature hereto.

 

	HOLDER: ____________________	ACCEPTED AND AGREED:
	 	 
	By: ____________________	FREEDOM LEAF INC.
	Name and Title of Signatory	 
	 	 
	Address: ____________________	By: ____________________
	 	 
	____________________	Title: ___________________
	 	 
	Facsimile Number: __________	 

 

 

 

 

 

 

 

    	 	13	 

     

    

 

EXHIBIT
B

 

CONSENT
OF SPOUSE

 

I,
____________________, spouse of ______________, acknowledge that I have read the Voting Agreement, dated as of May 31, 2019, to
which this Consent is attached as Exhibit B (the “Agreement”), and that I know the contents of the Agreement.
I am aware that the Agreement contains provisions regarding the voting and transfer of shares of capital stock of the Company that
my spouse may own, including any interest I might have therein.

 

I
hereby agree that my interest, if any, in any shares of capital stock of the Company subject to the Agreement shall be irrevocably
bound by the Agreement and further understand and agree that any community property interest I may have in such shares of capital
stock of the Company shall be similarly bound by the Agreement.

 

I
am aware that the legal, financial and related matters contained in the Agreement are complex and that I am free to seek independent
professional guidance or counsel with respect to this Consent. I have either sought such guidance or counsel or determined after
reviewing the Agreement carefully that I will waive such right.

 

 

 

	Dated:__________	____________________________
	 	Name of Stockholder’s Spouse

 

 

 

 

 

    	 	14Exhibit 10.2

 

AMENDMENT NO. 1

 

TO

 

SECURITIES PURCHASE AGREEMENT

 

This Amendment No.
1 to Securities Purchase Agreement (this “Amendment”) is made as of May 31, 2019, by and among Freedom Leaf
Inc., a Nevada corporation (the “Company”) and the parties signatories hereto (the “Amending Stockholders”).

 

WHEREAS, the Company
and the Amending Stockholders are parties to that certain Securities Purchase Agreement, dated as of September 28, 2018, by and
among the Company and the investors listed on the Schedule of Buyers attached thereto (the “Agreement”; capitalized
terms used but not defined herein shall have the meanings given to them in the Agreement.);

 

WHEREAS, Section 9(e)
of the Agreement permits amendment of the Agreement only in a writing signed by the Company and holders of at least eighty percent
(80%) of the Common Shares issued and issuable under the Agreement (the “Requisite Threshold”);

 

WHEREAS, as of the
date hereof, the Amending Stockholders collectively hold at least the Requisite Threshold; and

 

WHEREAS, this Amendment
complies with the requirements of Section 9(e) of the Agreement.

 

NOW, THEREFORE, the
Company and the Amending Stockholders hereby agree as follows:

 

1.              
Amendment and Restatement. Section 4(q) of the Agreement is hereby deleted and replaced in its entirety by the following:

 

Conversion
of Preferred Stock. The Company shall have the right to convert each share of Series A Preferred Stock issued and outstanding
into one-hundred (100) fully paid and non-assessable Common Shares (the “Mandatory Conversion”) at any time
in its sole discretion beginning on any date on or after May 30, 2019, by delivering written notice to each holder of record of
shares of Series A Preferred Stock specifying the effective date and time of the Mandatory Conversion (the “Mandatory
Conversion Time”). Such notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt
of such notice, each holder of shares of Series A Preferred Stock in certificated form shall surrender his, her or its certificate
or certificates for all such shares of Series A Preferred Stock (or, if such holder alleges that such certificate has been lost,
stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Company to indemnify the Company against
any claim that may be made against the Company on account of the alleged loss, theft or destruction of such certificate) to the
Company at the place designated in such notice. If so required by the Company, any certificates surrendered for conversion shall
be endorsed or accompanied by written instrument or instruments of transfer, in form satisfactory to the Company, duly executed
by the registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Series A Preferred
Stock converted, including the rights, if any, to receive notices and vote (other than as a holder of Common Shares), will terminate
at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender any certificates at
or prior to such time), except only the rights of the holders thereof, upon surrender of any certificate or certificates of such
holders (or lost certificate affidavit and agreement) therefor, to receive the items provided for in this Section 4(q). As soon
as practicable after the Mandatory Conversion Time and, if applicable, the surrender of any certificate or certificates (or lost
certificate affidavit and agreement) for Series A Preferred Stock, the Company shall issue and deliver to such holder, or to his,
her or its nominees, a certificate or certificates for the number of full shares of Common Shares issuable on such conversion in
accordance with the provisions hereof. Such converted Series A Preferred Stock shall be retired and cancelled and may not be reissued
as shares of such series, and the Company may thereafter take such appropriate action (without the need for stockholder action)
as may be necessary to reduce the authorized number of shares of Series A Preferred Stock accordingly.

 

 

 

    	 	1	 

     

    

 

2.              
Agreement. Except as modified by this Amendment, the Agreement shall remain unchanged and in full force and effect.

 

3.              
Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the State
of Nevada, without giving effect to the principles of conflicts of law.

 

4.              
Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an
original, but all of which together will constitute one and the same instrument.

 

[Signature
pages follow]

 

 

 

 

 

 

 

 

 

 

 

 

    	 	2	 

     

    

 

 

IN WITNESS WHEREOF,
the parties hereto have executed this Amendment on the date first written above.

 

	 	COMPANY
	 	 
	 	 
	 	FREEDOM LEAF INC.
	 	 
	 	By:  /s/ Clifford Perry                                        
	 	Name: Clifford Perry
	 	Title:   Chief Executive Officer

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 1 to Securities
Purchase Agreement]

 

 

 

    	 	3	 

     

    

 

 

	 	AMENDING STOCKHOLDERS
	 	 
	 	 
	 	MERIDA CAPITAL PARTNERS II, LP
	 	 
	 	By:  Merida Manager II LLC, its general partner
	 	By:     /s/ Mitchell Baruchowitz
	 	Name: Mitchell Baruchowitz
	 	Title: Managing Partner
	 	 
	 	 
	 	JM10-FFF
	 	 
	 	By: /s/ Abner Kurtin
	 	Name: Abner Kurtin
	 	Title:   Managing Partner

 

 

 

 

 

 

 

 

[Signature Page to Amendment No. 1 to Securities
Purchase Agreement]

 

    	 	4	 

     

    

 

ACKNOWLEDGED AND AGREED:

 

 

 

Each of the undersigned
holders of Series A Preferred Stock hereby acknowledges and agrees that the Conversion Rights (as defined in Article II of the
Company’s Articles of Incorporation, as in effect from time to time) shall be automatically exercised, without any further
action by the undersigned, upon the Company’s determination of the Mandatory Conversion Time in accordance with this Amendment.

 

 

 

/s/ Clifford J. Perry

Name: Clifford J. Perry

 

  

/s/ Richard C. Cowan

Name: Richard C. Cowan

 

 

 

 

 

 

 

 

 

 

 

    	 	5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}]]