Document:

Exhibit
10.5

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

 

Variation Agreement

 

THIS AGREEMENT is made between 

 

		Monash University
                                                                             (ABN: 12 377 614 012) of Wellington Road, Clayton, Victoria	(Monash)

 

		AND the party named in Item 1 of the Schedule	(Contracting Party)

 

Background:

 

		A.	Monash and the Contracting Party entered into the document named in Item 2 of the Schedule (Document).

 

		B.	Monash and the Contracting Party wish to vary the Document in accordance with this Agreement.

 

In consideration
of the mutual promises and covenants contained in this Agreement, it is agreed as follows:

 

		1.	Definitions 

 

		1.1	Terms which are defined in the Document and used in this Agreement have the meaning given to them in the
Document, unless stated otherwise.

 

		2.	Effective date of variation

 

		2.1	The effective date of this Agreement is the date set out in Item 3 of the Schedule (Effective Date).

 

		2.2	Clause 2.1 does not affect any right or obligation arising before the Effective Date.

 

		3.	Variation

 

		3.1	The parties agree that from the Effective Date, the Document will be varied in accordance with Item 4
of the Schedule.

 

		3.2	Save for varying the Document as specified in this Agreement, all other provisions in the Document remain
unchanged.

 

		4.	General

 

		4.1	Costs: Each party remains responsible for its own costs and expenses in entering into this Agreement.

 

		4.2	Signatories: The signatories to this Agreement warrant that they have the authority to enter into
this Agreement on behalf of the party they are stated to represent.

 

    	Variation Agreement (OGC ref: 20/1770)	Page 1

     

    

 

		5.	Electronic Signing & Counterparts

 

		5.1	Each Party agrees that this Agreement may be executed by electronic signature (regardless of the form
of electronic signature utilised) and that this method of signature is conclusive of the parties’ intention to be bound by this
Agreement as if physical signing had occurred.

 

		5.2	This Agreement may be executed in any number of counterparts and by the parties on separate counterparts.
Each counterpart constitutes the agreement of each party who has executed and delivered that counterpart. Each party may communicate its
execution of this Agreement by successfully transmitting an executed copy of the Agreement by an electronic method to each party.

 

EXECUTED as
an agreement

 

SIGNED for and on behalf of

MONASH UNIVERSITY by

its authorised officer: 

 

	Authorized Signatory	/S/Authorized Signatory
	Print Name	Signature
	 	 
	Director MIPS	15 May, 2021
	Title	Date

 

SIGNED for and on behalf of the

CONTRACTING PARTY by

its authorised officer: 

 

	Nathan Givoni	/S/ Nathan Givoni
	Print Name	Signature
	 	 
	Director	5/13/2021
	Title	Date

 

    	Variation Agreement (OGC ref: 20/1770)	Page 2

     

    

 

SCHEDULE

 

	Item	 	Description
	1.	Contracting Party	 	MYHYPO PTY LTD (ABN 31 619 501 254) of 647 Glenhuntly Road, Caulfield VIC 3162
	2.	Document	 	Master Services Agreement dated 5 December 2019
	3.	Effective Date	 	From the date of the signature of the last party to sign
	4.	Variations	 	
    In Schedule 1 the Document is varied as follows:

     

    1.   In
    Item 2 Completion Date the words “One year from the Commencement  Date” is deleted and replaced with “31 January 2023.”;

     

    2.   In
    Item 5 Services Rate add the following text:

     

     “Services Rates for a full
year, half year and quarterly commitment periods  are shown in Table A. Rates are calculated on the basis of one Full Time  Equivalent
(FTE) Research Officer and, as necessary, shall be prorated for  across the commitment period for each statement of work.

     

    Table A.

	 	Project Commencement Year*	 	Full year commitment
 (12 months fee excl. GST)
	 	 	Half yearly commitment
 (6 months fee excl. GST)
	 	 	Quarterly commitment
 (3 months fee excl. GST)
	 
	 	2019/20	 	 	[*****]	 	 	 	[*****]	 	 	 	[*****]	 
	 	2020/21	 	 	[*****]	 	 	 	[*****]	 	 	 	[*****]	 
	 	2021/22	 	 	[*****]	 	 	 	[*****]	 	 	 	[*****]	 

 

	 	 	 	Fees
that, in aggregate, are likely to represent an FTE commitment less than 3 months in a single year shall be charged at the standard single
engagement service rates of MMIC and are available upon request. 

    

 

	 	 	*	Project Commencement Year is the financial year in which new
    rates commence and occurs annually on the anniversary of the Effective Date above (2).”

 

	Variation Agreement (OGC ref: 20/1770)	Page
3Exhibit
10.6

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) would be competitively harmful if publicly disclosed

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	PacificPine
    Tennis Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(a)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(b)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(c)	any application
    and the right to apply for registration for any of the above; and

 

	 	(d)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

     

     

    

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

    Page
                                            2 of
                                            22

     

    

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.43 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

    Page
                                            3 of
                                            22

     

    

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by Gelteq Pty
    Ltd by its authorised 

    representative in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature
    of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness
    name	 	Print
    name
	 	 	 
	1/10/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised signatory
    for PacificPine Tennis Limited in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/Authorized
    Signatory
	Signature
    of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Authorized
    Signatory
	Witness
    name	 	Print
    name
	 	 	 
	1/10/2021	 	 
	Date signed	 	 

 

    Page
                                            4 of
                                            22

     

    

 

Schedule
1 – Agreement Details

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	10
    January 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 80,000 units 

    Subsequent Order: 120,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

    Page
                                            5 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

 

BETWEEN

 

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	Lifestyle
    Breakthrough Holdings Unit Trust (Licensee).

 

OPERATIVE
PROVISIONS

 

 

		1.	Definitions
                                            and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

		(a)	Product
                                            names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(a)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(b)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(c)	any application
    and the right to apply for registration for any of the above; and

 

	 	(d)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

    Page
                                            6 of
                                            22

     

    

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date;

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent if the Licensee brand is required as
part of a white-labelled gel product.

 

		3.	Term

 

		3.1	This
                                            Agreement commences on the Commencement Date and continues for the Term, unless terminated
                                            earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
                                            and price

 

Subject
to clause 5, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a Product
as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

The
Licensee agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Minimum Purchase and Minimum
Order, and in the frequency specified in Schedule 1.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Each Order
    must be for the Minimum Order, unless otherwise agreed by Gelteq in writing.

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the total order cost in full 7 days prior to production
    commences, a date in which Gelteq will notify the Licensee. Any additional taxes, duties and delivery costs payable in accordance
    with clause 5(b) below

 

		4.5	Delivery
    estimate

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            7 of
                                            22

     

    

 

		5.	Payment

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		6.	Conditions
    of resale and distribution

 

		6.1	Resale
    of Products

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		6.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.50 per unit.

 

		7.	Confidentiality

 

		7.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

		7.2	Permitted
    disclosure

 

	 	(a)	The Licensee
    may disclose Confidential Information to those of its employees and advisors as may be reasonably necessary or desirable, provided
    that before any such disclosure each party shall make those employees and advisors aware of its obligations of confidentiality under
    this Agreement and shall at all times procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		7.3	Survival

 

This
clause survives the expiry or termination of this Agreement.

 

		8.	Termination

 

		8.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date

 

		Termination
                                            of licences

 

If
this Agreement expires or is terminated in accordance with this clause, all licences granted to the Licensee under this Agreement will
cease.

 

    Page
                                            8 of
                                            22

     

    

 

Executed
as an agreement

 

	Signed by Gelteq Pty
    Ltd by its authorised 

    representative in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness name  	 	Print
    name
	 	 	 
	9/31/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by Nathan Givoni as authorised
    

    signatory for Lifestyle Breakthrough Holdings Unit Trust 

    in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness
    name	 	Print
    name
	 	 	 
	9/31/2021	 	 
	Date signed	 	 

 

Schedule
1 – Agreement Details

 

 

	No.	Item	Details
	7.	Agreement
    Date (date of signing)	31/9/2021
	8.	Delivery
    Date	Q1
	9.	Licence
    Fees	Waived
    for this Pilot Program
	10.	Trade
    Marks 	GELTEQ
    HYPOGEL
	11.	Minimum
    Order	Initial
    Order: 20,000 units Subsequent Order: 30,000 units
	12.	Price	The
    price for the initial order will be [*****] per unit

 

    Page
                                            9 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	PacificPine
    Football Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(e)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(f)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(g)	any application
    and the right to apply for registration for any of the above; and

 

	 	(h)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

    Page
                                            10 of
                                            22

     

    

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            11 of
                                            22

     

    

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.34 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

    Page
                                            12 of
                                            22

     

    

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by Gelteq Pty
    Ltd by its authorised

    representative in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Simon Szewach
	Signature
    of witness	 	Signature of authorised signatory  
	 	 	 
	[*****]	 	Simon
    Szewach
	Witness name  	 	Print
    name
	 	 	 
	15/11/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised
    signatory for PacificPine Football Limited in the presence of:	 	 
	 	 	 
	[*****]	 	Authorized
    Signatory
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	/S/
    Authorized Signatory
	Witness name	 	Print
    name
	 	 	 
	11/15/21	 	 
	Date signed	 	 

 

Schedule
1 – Agreement Details

 

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	15
    November 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 50,000 units 

    Subsequent Order: 75,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

    Page
                                            13 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	Five-Star
    Sports Hong Kong Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(e)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(f)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(g)	any application
    and the right to apply for registration for any of the above; and

 

	 	(h)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

    Page
                                            14 of
                                            22

     

    

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            15 of
                                            22

     

    

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.38 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

    Page
                                            16 of
                                            22

     

    

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by [*****]

    representative in the presence of:	 	 
	 	 	 
	[*****]	 	/S/
    Simon Szewach
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Simon
    Szewach
	Witness name	 	Print
    name
	 	 	 
	11/29/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised
    

    signatory for Five-Star Sports Hong Kong Limited 

    in the presence of:  	 	 
	 	 	 
	[*****]	 	Authorized Signatory
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	/S/
    Authorized Signatory
	Witness name	 	Print
    name
	 	 	 
	11/29/2021	 	 
	Date signed	 	 

 

    Page
                                            17 of
                                            22

     

    

 

Schedule
1 – Agreement Details

 

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	29
    November 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 80,000 units 

    Subsequent Order: 120,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

    Page
                                            18 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	PacificPine
    Golf Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(e)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(f)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(g)	any application
    and the right to apply for registration for any of the above; and

 

	 	(h)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

    Page
                                            19 of
                                            22

     

    

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            20 of
                                            22

     

    

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.35 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

    Page
                                            21 of
                                            22

     

    

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by [*****]

    representative in the presence of:	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature
    of witness	 	Signature of authorised signatory  
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness name	 	Print
    name
	 	 	 
	12/13/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised
    

    signatory for PacificPine Golf Limited in the presence of:	 	 
	 	 	 
	[*****]	 	/S/
    Authorized Signatory
	Signature
    of witness	 	Signature of authorised signatory  
	 	 	 
	[*****]	 	Authorized
    Signatory
	Witness name  	 	Print
    name
	 	 	 
	12/13/21	 	 
	Date signed	 	 

 

Schedule
1 – Agreement Details

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	13
    December 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 40,000 units 

    Subsequent Order: 60,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

 

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