Document:

FULL AND COMPLETE RELEASE OF LIABILITY
AGREEMENT

 

 

This Full
and Complete Release of Liability Agreement is made and entered into this 26th
day of August, 2013 by and between Capstone Financial Group, Inc. (“CAPP”) and
Ryan Faught.

 

Mr.
Faught hereby releases
CAPP, its principals,
directors, officers, and
employees, if any, from
the loan of
$13,500 plus any
and allaccrued interest
and any and
all liability it
may have with Mr. Faught. Mr. Faught does not expect repayment of any loan and interest.

 

MR. FAUGHT
ACKNOWLEDGES THAT HE HAS READ THIS RELEASE OF LIABILITY AGREEMENT. MR. FAUGHT UNDERSTANDS
THAT BY SIGNING THIS DOCUMENT, IT IS WAIVING
VALUABLE LEGAL RIGHTS, INCLUDING ANY AND ALL RIGHT IT MAY HAVE AGAINST
CAPSTONE.

 

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

 

 

 

 

 

By: /s/
Ryan Faught                       

Ryan Faught

 

 

Capstone Financial Group,
Inc., a Nevada corporation

 

 

 

 

By: /s/
Darin Pastor                           

Darin Pastor,
CEO

 

 

 

 

 

 

 

 

 

1FULL AND COMPLETE RELEASE OF LIABILITY
AGREEMENT

 

 

This Full
and Complete Release of Liability Agreement is made and entered into this 26th
day of August, 2013 by and between Capstone Financial Group, Inc. (“CAPP”) and
Ryan Faught.

 

Mr.
Faught hereby releases
CAPP, its principals,
directors, officers, and
employees, if any, from
the loan of
$13,500 plus any
and allaccrued interest
and any and
all liability it
may have with Mr. Faught. Mr. Faught does not expect repayment of any loan and interest.

 

MR. FAUGHT
ACKNOWLEDGES THAT HE HAS READ THIS RELEASE OF LIABILITY AGREEMENT. MR. FAUGHT UNDERSTANDS
THAT BY SIGNING THIS DOCUMENT, IT IS WAIVING
VALUABLE LEGAL RIGHTS, INCLUDING ANY AND ALL RIGHT IT MAY HAVE AGAINST
CAPSTONE.

 

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

 

 

 

 

 

By: /s/
Ryan Faught                       

Ryan Faught

 

 

Capstone Financial Group,
Inc., a Nevada corporation

 

 

 

 

By: /s/
Darin Pastor                           

Darin Pastor,
CEO

 

 

 

 

 

 

 

 

 

1AMENDMENT NO. 1 

TO COMMON STOCK PUT AGREEMENT

 

This Amendment No. 1 to Common Stock Put Agreement
(“Amendment No. 1”) is made and entered into as of December 15, 2014 (the “Effective Date”)
by and between Twinlab Consolidated Holdings, Inc. (“TCH”), a Nevada corporation, and Capstone Financial Group,
Inc., a Nevada corporation (“Capstone”).

 

WHEREAS, TCH and Capstone are parties
to that certain Common Stock Put Agreement, dated as of September 30, 2014 (the “Put Agreement”);

 

WHEREAS, TCH and Capstone wish to modify
the terms of the Put Agreement with respect to the initial date upon which a Put (as defined in the Put Agreement) can be exercised;

 

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby expressly acknowledged the parties hereto agree as follows:

 

1.                 
Section 2.1(a) of the Put Agreement is hereby deleted in entirety and replaced with the following:

 

“The Put. (a) In the event that Capstone does
not exercise the Series A Warrant on the Initial Exercise Date or any subsequent Periodic Exercise Date such that as of the February
16, 2015 Exercise Date (the same also being the “Initial Put Right Date”) or any applicable Exercise Date thereafter,
Capstone’s cumulative purchases of Common Stock pursuant to the Series A Warrant shall not have been at a rate that is equal
to or in excess of the Minimum Rate through such Exercise Date, then beginning on the Initial Put Right Date, TCH shall have the
right to notify Capstone not earlier than 30 days and not later than 40 days after the applicable Exercise Date of TCH’s
exercise of its put rights hereunder (the “Put Notice”). Upon receipt of the Put Notice, Capstone shall be required
to exercise the Series A Warrant to (i) purchase by a date identified in the Put Notice that is no earlier than 10 days after
and no later than 30 days after the date of the Put Notice (the “Put Date”), such amount of Common Stock as would,
if purchased as of the February 16, 2015 Exercise Date or any applicable Exercise Date thereafter to which the Put Notice relates,
have made Capstone’s purchases of Common Stock pursuant to the Series A Warrant as of such Exercise Date equal to the Minimum
Rate (the “Initial Mandatory Purchase”), and (ii) purchase by a date that is no later than each subsequent Periodic
Exercise Date an amount of Common Stock such that as of each such Periodic Exercise Date, Capstone’s cumulative purchases
of Common Stock pursuant to the Series A Warrant through that date shall have been at a rate that is no less than the Minimum Rate
(the “Periodic Mandatory Purchases”).”

    	-1-

    	 

    

 

2.                 
Except as expressly modified by this Amendment No. 1, all terms and conditions of the Put Agreement shall remain in full
force and effect.

 

3.                 
This Amendment No. 1 shall be governed by and construed in accordance with the internal laws of the State of New York without
giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction).

 

4.                 
This Amendment No. 1 may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall be deemed to be one and the same instrument. A signed copy of this Amendment No. 1 delivered by facsimile, email or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Amendment
No. 1.

 

IN WITNESS WHEREOF, the parties hereto
have caused this Amendment No. 1 to be duly executed and delivered as of the day and year first written above.

 

TWINLAB CONSOLIDATED HOLDINGS, INC.

 

 

 

By: ______________________________________

Name: Thomas A. Tolworthy

Title: President and Chief Executive Officer

 

 

CAPSTONE FINANCIAL GROUP, INC.

 

 

 

By: ______________________________________

Name: Darin R. Pastor

Title: Chief Executive Officer

 

 

    	-2-CAPSTONE
FINANCIAL
GROUP,
INC.

	 
	 

 

WRITTEN CONSENT
TO ACTION WITHOUT MEETING OF THE

 

BOARD OF DIRECTORS

 

OF

 

CAPSTONE FINANCIAL GROUP,
INC.

 

A
Nevada Corporation Dated: October 28, 2014

The undersigned, being
all the Directors of CAPSTONE FINANCIAL GROUP, INC., a Nevada Corporation, hereby execute
this written consent to action, as provided by Section 78.315 of the Nevada
Revised Statutes and
in lieu of
a formal meeting.
The undersigned hereby
waive, pursuant to Section
78.375 of the
Nevada Revised Statutes
and Article III,
Section 14 of
the By-laws, all requirements
of notice, including
notice of purpose,
whether contained in the
Nevada Constitution, Nevada Revised Statutes or the By-laws of this Corporation,
and do hereby adopt the following resolutions:

Authorization to
Execute Agreement with Darin R. Pastor

 

WHEREAS,
on December 13,
2013, the Corporation
entered into a
reverse triangular merger by and among Capstone Sub Co. (“Sub Co.”),
a Nevada corporation and a former wholly owned subsidiary of the Company, and Capstone
Affluent Strategies, Inc. (“Affluent”), a California Corporation (the “Merger
Agreement”), Sub Co. and Affluent being the constituent entities in the Merger.
Pursuant to the terms of the Merger, Sub Co. merged
with Affluent wherein
Sub Co ceased
to exist and
Affluent became a
wholly owned subsidiary of the corporation (the “Merger”);
and

 

WHEREAS,
on January 15,
2014 the Merger
was completed, however
as a result
of being unable to complete a timely audit of the financial statements, among
other things, on May 14, 2014, the Corporation, Sub Co. and Affluent executed a Rescission
Letter Agreement, wherein they
mutually agreed to
rescind the Merger
Agreement rendering the
Merger Agreement void and of no effect, without any liability on any party to the Merger
Agreement (“Merger Rescission”); and

 

WHEREAS, on April 28, 2014,
a Domestic Stock Corporation Certificate of Dissolution for
Affluent was prematurely
filed with the
Secretary of State
of California dissolving Affluent
as a corporation (the “Affluent Dissolution”); and

 

WHEREAS, as a result of the
Affluent Dissolution, neither the Corporation, Affluent nor Pastor were provided the
opportunity to properly document and effectuate their intentions subsequent to the Merger
Rescission; and

	 
	 

	Capstone
                    Financial
                    Group,
                    Inc. –
                    Pastor, Affluent,
                    & CAPP
                    Agreement

	October 28, 2014
	 	Page 1 of 2	 

    	 

    	 

    

CAPSTONE
FINANCIAL
GROUP,
INC.

	 
	 

 

WHEREAS, Pastor was
the sole officer and Director of Affluent prior to its dissolution and the Corporation
still desires to utilize Pastor’s expertise, knowledge base and experience,
and believes that
Pastor’s efforts and
development of the
Affluent business have an overriding redeeming economic value to the Corporation;
and

 

WHEREAS, the Corporation
wishes to assume certain assets from Affluent in exchange for the assumption of certain
liabilities; and

 

WHEREAS,
Pastor and the
Corporation feel it
is in the
best interests of
all involved to enter
into the Agreement
between Pastor and
the Corporation (the
“Agreement”), attached hereto
as Exhibit A,
memorializing the intentions,
as if they
were originally given
the chance to enter into such; be it

 

RESOLVED, the Corporation is
hereby authorized to execute the Agreement.

 

AUTHORIZATION OF CORPORATE
ACTION

 

RESOLVED THAT each
officer of the Corporation is hereby authorized and directed to do and perform, or
cause to be done and performed, all such acts, deeds and things and to make, execute
and deliver, or cause to be made, executed and delivered, all such agreements,
undertakings, documents, instruments
or certificates in
the name and
on behalf of the
Corporation or otherwise
as each such
officer may deem
necessary or appropriate
to effectuate or carry out fully the purpose and intent of the foregoing resolutions and any of the transactions contemplated
thereby.

 

All
actions heretofore taken
by any director
or officer of
the Corporation in
connection with any matter referred to in the foregoing resolutions are hereby approved, ratified
and confirmed in all respects.

 

The
secretary and any
assistant secretary of
the Corporation or
any other officer
of the Corporation, is
hereby authorized to
certify and deliver,
to any person
to whom such certification and delivery
may be deemed necessary or appropriate in the opinion of such officer, a true copy
of the foregoing resolutions.

 

APPROVAL

 

 

Dated: October 28,
2014

 

ABSTAIN

Darin Pastor,
Chairman

 

 

 

_____________________________________

George Schneider,
Director

 

 

 

 

 

IN WITNESS WHEREOF:
___________________________________

Darin Pastor, Secretary

 

The following is appended here to:

 

		·	Exhibit A – Agreement by and between
Darin R. Pastor and Capstone Financial Group, Inc., dated October 28,
2014.

 

 

 

	 
	 

	Capstone
                    Financial
                    Group,
                    Inc. –
                    Pastor, Affluent,
                    & CAPP
                    Agreement

	October 28, 2014
	 	Page 2 of 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}]]