Document:

Exhibit 10.1

 

EQUITY PURCHASE AGREEMENT

 

This equity purchase agreement
(this “Agreement”) is entered into as of February 19, 2020 (provided, however, that this Agreement shall only
be effective as of the Execution Date (as defined in this Agreement)), by and between VPR Brands, LP., a Delaware limited partnership
(the “Company”), and DiamondRock, LLC, a New York limited liability company (the “Investor”).

 

WHEREAS, the parties
desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Investor, from
time to time as provided herein, and the Investor shall purchase up to Five Million Dollars ($5,000,000.00) of the Company’s
Common Units (as defined below);

 

NOW, THEREFORE,
the parties hereto agree as follows:

 

ARTICLE I

CERTAIN DEFINITIONS

 

Section 1.1 DEFINED
TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated (such meanings
to be equally applicable to both the singular and plural forms of the terms defined):

 

“Agreement”
shall have the meaning specified in the preamble hereof.

 

“Average Daily
Trading Value” shall mean the average trading volume of the Company’s Common Units in the five (5) Trading Days
immediately preceding the respective Put Date multiplied by the average VWAP of the Company’s Common Units in the five (5)
Trading Days immediately preceding the respective Put Date.

 

“Bankruptcy Law”
means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

“Claim Notice”
shall have the meaning specified in Section 9.3(a).

 

“Clearing Date”
shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.

 

“Closing”
shall mean one of the closings of a purchase and sale of shares of Common Units pursuant to Section 2.3.

 

“Closing Certificate”
shall mean the closing certificate of the Company in the form of Exhibit B hereto.

 

“Closing Date”
shall mean the date of any Closing hereunder.

 

“Commitment Period”
shall mean the period commencing on the effective date of the Form S-1 Registration Statement filed for the Put Shares, and ending
on the earlier of (i) the date on which the Investor shall have purchased Put Shares pursuant to this Agreement equal to the Maximum
Commitment Amount, (ii) or such time as the Form S-1 Registration Statement filed for the Put Shares is no longer effective, or
(iii) 24 months after the initial effectiveness of the Form S-1 Registration Statement filed for the Put Shares or (iv) written
notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds any of the Put
Shares).

 

“Common Units”
shall mean the Company’s common units, no par value, and any shares of any other class of common units whether now or hereafter
authorized, having the right to participate in the distribution of dividends (as and when declared) and assets (upon liquidation
of the Company).

 

“Common Units
Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Units, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Units.

 

“Company”
shall have the meaning specified in the preamble to this Agreement.

 

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees
and disbursements and costs and expenses of expert witnesses and investigation).

 

“Dispute Period”
shall have the meaning specified in Section 9.3(a).

    

    

    

 

 

“DTC”
shall mean The Depository Trust Company, or any successor performing substantially the same function for the Company.

 

“DTC/FAST Program”
shall mean the DTC’s Fast Automated Securities Transfer Program.

 

“DWAC”
shall mean Deposit Withdrawal at Custodian as defined by the DTC.

  

“DWAC Eligible”
shall mean that (a) the Common Units are eligible at DTC for full services pursuant to DTC’s Operational Arrangements, including,
without limitation, transfer through DTC’s DWAC system, (b) the Company has been approved (without revocation) by the DTC’s
underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program, (d) the Put Shares are otherwise
eligible for delivery via DWAC, and (e) the Transfer Agent does not have a policy prohibiting or limiting delivery of the Put Shares,
via DWAC.

 

“DWAC Shares”
means shares of Common Units that are (i) issued in electronic form, (ii) freely tradable and transferable and without restriction
on resale and (iii) timely credited by the Company to the Investor’s or its designee’s specified DWAC account with
DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

“Estimated Put
Shares” shall have the meaning specified in Section 2.2(c).

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange Cap”
shall have the meaning set forth in Section 7.1(c).

 

“Execution Date”
shall mean the last date that this Agreement is signed by the parties hereto.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

 

 “Indemnified
Party” shall have the meaning specified in Section 9.2.

 

“Indemnifying
Party” shall have the meaning specified in Section 9.2.

 

“Indemnity Notice”
shall have the meaning specified in Section 9.3(b).

 

“Initial Pricing”
per share shall mean 85% of the average daily VWAP of the Common Units during the five (5) Trading Days immediately prior to the
date of the respective Put Notice.

 

“Initial Pricing
Period” shall mean the five (5) Trading Days immediately prior to the date of the respective Put Notice.

 

“Investment Amount”
shall mean the dollar amount to be invested by Investor to purchase Put Shares with respect to any Put as notified by the Company
to Investor in accordance with Section 2.2, less a non-accountable expense allowance equal to five percent (5%) thereof.

 

“Investor”
shall have the meaning specified in the preamble to this Agreement.

 

“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Material Adverse
Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company and the
Subsidiaries that is material and adverse to the Company and the Subsidiaries and/or any condition, circumstance, or situation
that would prohibit or otherwise materially interfere with the ability of the Company to enter into and perform its obligations
under any Transaction Document.

 

“Maximum Commitment
Amount” shall mean Five Million Dollars ($5,000,000.00).

 

“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal Market”
shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, Nasdaq), or principal quotation systems (i.e. OTCQX, OTCQB, OTC
Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time the principal trading
platform or market for the Common Units.

    

    

    

 

“Purchase Price”
shall mean 85% of the average daily VWAP of the Company’s Common Units during the Valuation Period.

 

“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Units, subject to the terms and conditions
of this Agreement.

 

“Put Date”
shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section 2.2(b).

 

“Put Notice”
shall mean a written notice, substantially in the form of Exhibit A hereto, to Investor setting forth the Put
Shares which the Company intends to require Investor to purchase pursuant to the terms of this Agreement.

 

“Put Shares”
shall mean all shares of Common Units issued, or that the Company shall be entitled to issue, per any applicable Put Notice in
accordance with the terms and conditions of this Agreement.

 

“Registration
Rights Agreement” shall mean the Registration Rights Agreement for the Put Shares subject to this Agreement between the
Investor and the Company entered into on the Execution Date.

 

“Registration
Statement” shall have the meaning specified in Section 6.4.

 

“Regulation D”
shall mean Regulation D promulgated under the Securities Act.

 

“Required Minimum”
shall mean, as of any date, the maximum aggregate number of shares of Common Units then
issued or potentially issuable in the future pursuant to the Transaction Documents, ignoring any beneficial ownership limitations
set forth therein.

 

“Rule 144”
shall mean Rule 144 under the Securities Act or any similar provision then in force under the Securities Act.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“SEC Documents”
shall have the meaning specified in Section 4.5.

 

“Securities”
means, the Put Shares.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended.

 

 “Short Sales”
shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.

 

“Subsidiary”
means any Person the Company wholly-owns or controls, or in which the Company, directly or indirectly, owns a majority of the voting
stock or similar voting interest, in each case that would be disclosable pursuant to Item 601(b)(21) of Regulation S-K promulgated
under the Securities Act.

 

“Third Party Claim”
shall have the meaning specified in Section 9.3(a).

 

“Trading Day”
shall mean a day on which the Principal Market shall be open for business.

 

“Transaction Documents”
shall mean this Agreement, the Registration Rights Agreement and all schedules and exhibits hereto and thereto.

 

“Transfer Agent”
shall mean Transhare Corporation, the current transfer agent of the Company, and any successor
transfer agent of the Company.

 

“Valuation Period”
shall mean the period of five (5) Trading Days following the Clearing Date associated with the applicable Put Notice.

 

“VWAP”
shall mean the volume weighted average price of the Company’s Common Units.

    

    

    

 

 

ARTICLE II

PURCHASE AND SALE OF COMMON UNITS

 

 

Section 2.1 PUTS.
Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the Company shall
have the right, but not the obligation, during the Commitment Period, to direct the Investor, by its delivery to the Investor of
a Put Notice from time to time, to purchase Put Shares (i) in a minimum amount not less than $25,000 based on the Initial Pricing
per share and (ii) in a maximum amount up to the lesser of (a) $250,000.00 or (b) 150% of the Average Daily Trading Value of the
Common Units during the respective Initial Pricing Period.

 

Section 2.2 MECHANICS.

 

(a)    
PUT NOTICE. At any time during the Commitment Period, the Company may deliver a Put Notice to Investor, subject to
the conditions set forth in Section 7.2; provided, however, that the Investment Amount identified in the applicable Put Notice,
when taken together with all prior Put Notices, shall not exceed the Maximum Commitment Amount.

 

(b)   
DATE OF DELIVERY OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by email
by the Investor if such notice is received on or prior to 8:30 a.m. EST or (ii) the immediately succeeding Trading Day if it is
received by email after 8:30 a.m. EST on a Trading Day or at any time on a day which is not a Trading Day. The Company shall not
deliver another Put Notice to the Investor within ten (10) Trading Days of the Clearing Date associated with the immediately prior
Put Notice.

 

(c)    
DELIVERY OF SHARES AND INVESTMENT AMOUNT; CLOSING. Within two (2) Trading Days following the Put Date, the Company
shall deliver, or cause to be delivered, to the Investor estimated Put Shares equal to the Investment Amount indicated in the Put
Notice divided by the Initial Pricing per share (the “Estimated Put Shares”) as DWAC Shares. Within two (2) Trading
Day following the Put Date, Investor shall pay the Investment Amount to the Company by wire transfer of immediately available funds.
The Investment Amount shall be deemed delivered on the Trading Day it is received by the Company if such wire is received on or
prior to 12:00 noon Eastern time. Similarly, the Put Shares shall be deemed delivered on the Trading Day they are received electronically
by Investor if such Put Shares are received on or prior to 12:00 Noon Eastern time. Any wire transfer or Put Shares received after
12:00 Noon Eastern time on a Trading Day shall be deemed to have been received on the next Trading Day. The Closing of a Put shall
occur upon the delivery of the Investment Amount and delivery of the Put Shares as described above (the “Closing Date”).
In addition, on or prior to such Closing Date, each of the Company and the Investor shall deliver to each other all documents,
instruments and writings required to be delivered pursuant to this Agreement or reasonably requested by any of them pursuant to
this Agreement in order to implement and effect the transactions contemplated herein.

 

Section 2.3 POST-CLOSING
ADJUSTMENTS. At the end of the Valuation Period, the Purchase Price shall be established and the number of Put Shares shall
be determined for a particular Put as the Investment Amount divided by the Purchase Price. If the number of Estimated Put Shares
(Investment Amount divided by Initial Pricing) initially delivered to Investor is greater than the number of Put Shares (Investment
Amount divided by Purchase Price) purchased by Investor pursuant to such Put, then, within two (2) Trading Days following the end
of the Valuation Period, the Investor shall deliver to the Company any excess Estimated Put Shares associated with such Put. If
the number of Estimated Put Shares (Investment Amount divided by Initial Pricing) delivered to Investor is less than the Put Shares
purchased by Investor pursuant to a Put, then within two (2) Trading Days following the end of the Valuation Period the Company
shall deliver to Investor the difference between the Estimated Put Shares and the Put Shares issuable pursuant to such Put. If
the value of the Put Shares based on the Purchase Price determined for a particular Put would cause the Company to exceed the Maximum
Commitment Amount, then within two (2) Trading Days following the end of the Valuation Period the Investor shall return to the
Company the surplus amount of Put Shares associated with such Put. If the number of the Put Shares (Investment Amount divided by
Purchase Price) determined for a particular Put exceeds the Beneficial Ownership Limitation, then within two (2) Trading Days following
the end of the Valuation Period the Investor shall return to the Company the surplus amount of Put Shares associated with such
Put. Concurrently, the Company shall return within two (2) Trading Days following the end of the respective Valuation Period to
the Investor, by wire transfer of immediately available funds, the portion of the Investment Amount related to the portion of Put
Shares exceeding the Beneficial Ownership Limitation.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF INVESTOR

 

The Investor represents
and warrants to the Company that:

 

Section 3.1 INTENT.
The Investor is entering into this Agreement for its own account and the Investor has no present arrangement (whether or not legally
binding) at any time to sell the Securities to or through any Person in violation of the Securities Act or any applicable state
securities laws; provided, however, that the Investor reserves the right to dispose of the Securities at
any time in accordance with federal and state securities laws applicable to such disposition.

  

Section 3.2 NO
LEGAL ADVICE FROM THE COMPANY. The Investor acknowledges that it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement with its own legal counsel and investment and tax advisors. The Investor is relying solely on such
counsel and advisors and not on any statements or representations of the Company or any of its

    

    

    

representatives or agents for legal, tax or
investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any
jurisdiction.

 

Section 3.3 ACCREDITED
INVESTOR. The Investor is an accredited investor as defined in Rule 501(a)(3) of Regulation D, and the Investor has such experience
in business and financial matters that it is capable of evaluating the merits and risks of an investment in the Securities. The
Investor acknowledges that an investment in the Securities is speculative and involves a high degree of risk.

  

Section 3.4 AUTHORITY.
The Investor has the requisite power and authority to enter into and perform its obligations under this Agreement and the other
Transaction Documents and to consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement
and the other Transaction Documents and the consummation by it of the transactions contemplated hereby and thereby have been duly
authorized by all necessary action and no further consent or authorization of the Investor is required. Each Transaction Document
to which it is a party has been duly executed by the Investor, and when delivered by the Investor in accordance with the terms
hereof, will constitute the valid and binding obligation of the Investor enforceable against it in accordance with its terms, subject
to applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

 

Section 3.5 NOT
AN AFFILIATE. The Investor is not an officer, director or “affiliate” (as that term is defined in Rule 405 of the
Securities Act) of the Company.

 

Section 3.6 ORGANIZATION
AND STANDING. The Investor is an entity duly incorporated or formed, validly existing and in good standing under the laws of
the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar
power and authority to enter into and to consummate the transactions contemplated by this Agreement and the other Transaction Documents.

 

Section 3.7 ABSENCE
OF CONFLICTS. The execution and delivery of this Agreement and the other Transaction Documents, and the consummation of the
transactions contemplated hereby and thereby and compliance with the requirements hereof and thereof, will not (a) violate any
law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Investor, (b) violate any provision of
any indenture, instrument or agreement to which the Investor is a party or is subject, or by which the Investor or any of its assets
is bound, or conflict with or constitute a material default thereunder, (c) result in the creation or imposition of any lien pursuant
to the terms of any such indenture, instrument or agreement, or constitute a breach of any fiduciary duty owed by the Investor
to any third party, or (d) require the approval of any third-party (that has not been obtained) pursuant to any material contract,
instrument, agreement, relationship or legal obligation to which the Investor is subject or to which any of its assets, operations
or management may be subject.

 

Section 3.8 DISCLOSURE;
ACCESS TO INFORMATION. The Investor had an opportunity to review copies of the SEC Documents filed on behalf of the Company
and has had access to all publicly available information with respect to the Company.

 

Section 3.9 MANNER
OF SALE. At no time was the Investor presented with or solicited by or through any leaflet, public promotional meeting, television
advertisement or any other form of general solicitation or advertising.

  

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents
and warrants to the Investor that, except as disclosed in the SEC Documents or except as set forth in the disclosure schedules
hereto:

 

Section 4.1 ORGANIZATION
OF THE COMPANY. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority
to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary
is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other
organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good
standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property
owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may
be, could not have or reasonably be expected to result in a Material Adverse Effect and no proceeding has been instituted in any
such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

Section 4.2 AUTHORITY.
The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and
the other Transaction Documents. The execution and delivery of this Agreement and the other Transaction Documents by the Company
and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate
action and no further consent or authorization of the Company or its Board of Directors or stockholders is required. Each of this
Agreement and the other Transaction Documents has been duly executed and delivered by the

    

    

    

Company and constitutes a valid and binding
obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited
by applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

 

Section 4.3 CAPITALIZATION.
Except as set forth on Schedule 4.3, the Company has not issued any capital stock since its most recently filed periodic
report under the Exchange Act, other than pursuant to the exercise of employee stock options under the Company’s stock option
plans, the issuance of shares of Common Units to employees pursuant to the Company’s employee stock purchase plans and pursuant
to the conversion and/or exercise of Common Units Equivalents outstanding as of the date of the most recently filed periodic report
under the Exchange Act. No Person has any right of first refusal, preemptive right, right of participation, or any similar right
to participate in the transactions contemplated by the Transaction Documents. The issuance and sale of the Securities will not
obligate the Company to issue shares of Common Units or other securities to any Person (other than the Investor) and will not result
in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities.
There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital
stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders.

  

Section 4.4 LISTING
AND MAINTENANCE REQUIREMENTS. The Common Units are registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the
Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration
of the Common Units under the Exchange Act nor has the Company received any notification that the SEC is contemplating terminating
such registration. The Company has not, in the twelve (12) months preceding the date hereof, received notice from the Principal
Market on which the Common Units is or has been listed or quoted to the effect that the Company is not in compliance with the listing
or maintenance requirements of such Principal Market. The Company is, and has no reason to believe that it will not in the foreseeable
future continue to be, in compliance with all such listing and maintenance requirements.

 

Section 4.5 SEC
DOCUMENTS; DISCLOSURE. Except as set forth on Schedule 4.5, the Company has filed all reports, schedules, forms,
statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant
to Section 13(a) or 15(d) thereof, for the one (1) year preceding the date hereof (or such shorter period as the Company was required
by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated
by reference therein, being collectively referred to herein as the “SEC Documents”) on a timely basis or has
received a valid extension of such time of filing and has filed any such SEC Documents prior to the expiration of any such extension.
As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Securities Act and
the Exchange Act, as applicable, and other federal laws, rules and regulations applicable to such SEC Documents, and none of the
SEC Documents when filed contained any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
The financial statements of the Company included in the SEC Documents comply as to form and substance in all material respects
with applicable accounting requirements and the published rules and regulations of the SEC or other applicable rules and regulations
with respect thereto. Such financial statements have been prepared in accordance with generally accepted accounting principles
applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in such financial statements
or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include footnotes or may be
condensed or summary statements) and fairly present in all material respects the financial position of the Company as of the dates
thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements,
to normal, immaterial, year-end audit adjustments). Except with respect to the material terms and conditions of the transactions
contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on its behalf has provided
the Investor or its agents or counsel with any information that it believes constitutes or might constitute material, non-public
information. The Company understands and confirms that the Investor will rely on the foregoing representation in effecting transactions
in securities of the Company.

 

Section 4.6 VALID
ISSUANCES. The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents,
will be duly and validly issued, fully paid, and non-assessable, free and clear of all Liens imposed by the Company other than
restrictions on transfer provided for in the Transaction Documents.

   

Section 4.7 NO
CONFLICTS. The execution, delivery and performance of this Agreement and the other Transaction Documents by the Company and
the consummation by the Company of the transactions contemplated hereby and thereby, including, without limitation, the issuance
of the Put Shares, do not and will not: (a) result in a violation of the Company’s or any Subsidiary’s certificate
or articles of incorporation, by-laws or other organizational or charter documents, (b) conflict with, or constitute a material
default (or an event that with notice or lapse of time or both would become a material default) under, result in the creation of
any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture, instrument or any “lock-up” or similar provision of any
underwriting or similar agreement to which the Company or any Subsidiary is a party, or (c) result in a violation of any federal,
state or local law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations) applicable
to the Company or any Subsidiary or by which any property or asset of the Company or any Subsidiary is bound or affected (except
for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually
or in the aggregate, have a Material Adverse Effect) nor is the Company otherwise in violation of, conflict with or in default
under any of the foregoing. The business of the Company is not

    

    

    

being conducted in violation of any law, ordinance
or regulation of any governmental entity, except for possible violations that either singly or in the aggregate do not and will
not have a Material Adverse Effect. The Company is not required under federal, state or local law, rule or regulation to obtain
any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for
it to execute, deliver or perform any of its obligations under this Agreement or the other Transaction Documents (other than any
SEC, FINRA or state securities filings that may be required to be made by the Company subsequent to any Closing or any registration
statement that may be filed pursuant hereto); provided that, for purposes of the representation made in this sentence, the Company
is assuming and relying upon the accuracy of the relevant representations and agreements of Investor herein.

 

Section 4.8 NO
MATERIAL ADVERSE CHANGE. No event has occurred that would have a Material Adverse Effect on the Company that has not been disclosed
in subsequent SEC filings.

  

Section 4.9 LITIGATION
AND OTHER PROCEEDINGS. Except as disclosed in the SEC Documents or as set forth on Schedule 4.9, there are no actions,
suits, investigations, inquiries or proceedings pending or, to the knowledge of the Company, threatened against or affecting the
Company, any Subsidiary or any of their respective properties, nor has the Company received any written or oral notice of any such
action, suit, proceeding, inquiry or investigation, which would have a Material Adverse Effect. No judgment, order, writ, injunction
or decree or award has been issued by or, to the knowledge of the Company, requested of any court, arbitrator or governmental agency
which would have a Material Adverse Effect. There has not been, and to the knowledge of the Company, there is not pending or contemplated,
any investigation by the SEC involving the Company, any Subsidiary or any current or former director or officer of the Company
or any Subsidiary.

 

Section 4.10 REGISTRATION
RIGHTS. Except as set forth on Schedule 4.10, no Person (other than the Investor) has any right to cause the Company
to effect the registration under the Securities Act of any securities of the Company or any Subsidiary.

 

Section 4.11 DILUTION.
The number of shares of Common Units issuable as Put Shares may increase substantially in certain circumstances, including, but
not necessarily limited to, the circumstance wherein the trading price of the Common Units declines during the Commitment Period.
The Company’s executive officers and board of directors of Soleil Capital Management, LLC, the general partner of the Company
(“General Partner”), have studied and fully understand the nature of the transactions contemplated by this Agreement
and recognize that they have a potential dilutive effect. The board of directors of the General Partner has concluded in its good
faith business judgment that such issuance is in the best interests of the Company. The Company specifically acknowledges that
its obligation to issue the Put Shares is binding upon the Company and enforceable regardless of the dilution such issuance may
have on the ownership interests of other unitholders of the Company.

 

ARTICLE V

COVENANTS OF INVESTOR

 

Section 5.1 COMPLIANCE
WITH LAW; TRADING IN SECURITIES. The Investor’s trading activities with respect to shares of Common Units will be in
compliance with all applicable state and federal securities laws and regulations and the rules and regulations of FINRA and the
Principal Market.

 

Section 5.2 SHORT
SALES AND CONFIDENTIALITY. Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant to any
understanding with it, will execute any Short Sales during the period from the date hereof to the end of the Commitment Period.
For the purposes hereof, and in accordance with Regulation SHO, the sale after delivery of a Put Notice of such number of shares
of Common Units reasonably expected to be purchased under a Put Notice shall not be deemed a Short Sale. The Investor shall, until
such time as the transactions contemplated by this Agreement are publicly disclosed by the Company in accordance with the terms
of this Agreement, maintain the confidentiality of the existence and terms of this transaction and the information included in
the Transaction Documents.

 

ARTICLE VI

COVENANTS OF THE COMPANY

 

Section 6.1 RESERVATION
OF COMMON UNITS. The Company shall maintain a reserve from its duly authorized shares of Common Units equal to 100% of the
Required Minimum to satisfy its obligation to issue the Put Shares in accordance with the terms of this Agreement.

 

Section 6.2 LISTING
OF COMMON UNITS. The Company shall promptly use commercially reasonable best efforts to secure the listing of all of the Put
Shares to be issued to the Investor hereunder on the Principal Market (subject to official notice of issuance) and shall use commercially
reasonable best efforts to maintain, so long as any shares of Common Units shall be so listed, the listing of all such Put Shares
from time to time issuable hereunder. The Company shall use its commercially reasonable efforts to continue the listing and trading
of the Common Units on the Principal Market (including, without limitation, maintaining sufficient net tangible assets) and will
comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of FINRA and
the Principal Market.

    

    

    

 

Section 6.3 [Intentionally
Omitted].

 

Section 6.4 FILING
OF CURRENT REPORT AND REGISTRATION STATEMENT. The Company agrees that it shall file a Current Report on Form 8-K, including
the Transaction Documents as exhibits thereto, with the SEC within the time required by the Exchange Act, relating to the transactions
contemplated by, and describing the material terms and conditions of, the Transaction Documents (the “Current Report”).
The Company shall permit the Investor to review and comment upon the final pre-filing draft version of the Current Report at least
two (2) Trading Days prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments.
The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within
one (1) Trading Day from the date the Investor receives it from the Company. The Company shall also file with the SEC, on or before
the date which is forty-five (45) calendar days after the Execution Date, a new registration statement (the “Registration
Statement”) covering only the resale of the Put Shares in accordance with the Registration Rights Agreement.

 

ARTICLE VII

CONDITIONS TO DELIVERY OF

PUT NOTICES AND CONDITIONS TO CLOSING

 

Section 7.1 CONDITIONS
PRECEDENT TO THE RIGHT OF THE COMPANY TO ISSUE AND SELL PUT SHARES. In addition to the other terms of this Agreement, the right
of the Company to issue and sell the Put Shares to the Investor is subject to the satisfaction of each of the conditions set forth
below:

 

(a) [Intentionally Omitted].

 

(b) [Intentionally Omitted].

 

(c) PRINCIPAL
MARKET REGULATION. The Company shall not issue any Put Shares, and the Investor shall not have the right to receive any Put
Shares, if the issuance of such Put Shares would exceed the aggregate number of shares of Common Units which the Company may issue
without breaching the Company’s obligations under the rules or regulations of the Principal Market (the “Exchange
Cap”).

 

Section 7.2 CONDITIONS
PRECEDENT TO THE OBLIGATION OF INVESTOR TO PURCHASE PUT SHARES. The obligation of the Investor hereunder to purchase Put Shares
is subject to the satisfaction of each of the following conditions:

 

(a) EFFECTIVE
REGISTRATION STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall remain effective for the
resale by the Investor of the Put Shares and (i) neither the Company nor the Investor shall have received notice that the SEC has
issued or intends to issue a stop order with respect to such Registration Statement or that the SEC otherwise has suspended or
withdrawn the effectiveness of such Registration Statement, either temporarily or permanently, or intends or has threatened to
do so and (ii) no other suspension of the use of, or withdrawal of the effectiveness of, such Registration Statement or related
prospectus shall exist.

 

(b) ACCURACY OF
THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall be true and correct
in all material respects as of the date of this Agreement and as of the date of each Closing (except for representations and warranties
specifically made as of a particular date).

 

(c) PERFORMANCE
BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Company.

 

(d) NO INJUNCTION.
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or adopted
by any court or governmental authority of competent jurisdiction that prohibits or directly and materially adversely affects any
of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced that may have the effect
of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction Documents.

 

(e) ADVERSE CHANGES.
Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably likely to have a Material
Adverse Effect has occurred.

 

(f) [Intentionally
Omitted].

 

(g) BENEFICIAL
OWNERSHIP LIMITATION. The number of Put Shares then to be purchased by the Investor shall not exceed the number of such shares
that, when aggregated with all other shares of Common Units then owned by the Investor beneficially

    

    

    

or deemed beneficially owned by the Investor,
would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as determined in accordance
with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 7.2(g), in the event
that the amount of Common Units outstanding, as determined in accordance with Section 16 of the Exchange Act and the regulations
promulgated thereunder, is greater on a Closing Date than on the date upon which the Put Notice associated with such Closing Date
is given, the amount of Common Units outstanding on such Closing Date shall govern for purposes of determining whether the Investor,
when aggregating all purchases of Common Units made pursuant to this Agreement, would own more than the Beneficial Ownership Limitation
following such Closing Date. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares
of the Common Units outstanding immediately after giving effect to the issuance of shares of Common Units issuable pursuant to
a Put Notice.

 

(h) PRINCIPAL
MARKET REGULATION. The issuance of the Put Shares shall not exceed the Exchange Cap.

 

(i) NO KNOWLEDGE.
The Company shall have no knowledge of any event more likely than not to have the effect of causing the Registration Statement
to be suspended or otherwise ineffective (which event is more likely than not to occur within the fifteen (15) Trading Days following
the Trading Day on which such Put Notice is deemed delivered).

 

(j) NO VIOLATION
OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of the Put Shares shall not violate the shareholder approval requirements
of the Principal Market.

 

(k) OFFICER’S
CERTIFICATE. On the date of delivery of each Put Notice, the Investor shall have received the Closing Certificate executed
by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied as of
the date of each such certificate.

 

(l) DWAC ELIGIBLE.
The Common Units must be DWAC Eligible and not subject to a “DTC chill.”

 

(m) SEC DOCUMENTS.
All reports, schedules, registrations, forms, statements, information and other documents required to have been filed by the Company
with the SEC pursuant to the reporting requirements of the Exchange Act shall have been filed with the SEC within the applicable
time periods prescribed for such filings under the Exchange Act.

 

(n) RESERVE.
The Company shall have reserved sufficient shares of its Common Units for the Investor, pursuant to the terms of this Agreement
and all other contracts between the Company and Investor.

 

ARTICLE VIII

LEGENDS

 

Section 8.1 NO
RESTRICTIVE STOCK LEGEND. No restrictive stock legend shall be placed on the share certificates representing the Put Shares.

 

Section 8.2 INVESTOR’S
COMPLIANCE. Nothing in this Article VIII shall affect in any way the Investor’s obligations hereunder to comply with
all applicable securities laws upon the sale of the Common Units.

 

ARTICLE IX

NOTICES; INDEMNIFICATION

 

Section 9.1 NOTICES.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid, or (d) transmitted by
hand delivery, telegram, or email as a PDF, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice given in accordance herewith. Any notice or other communication required or permitted to be given
hereunder shall be deemed effective (i) upon hand delivery or delivery by email at the address designated below (if delivered on
a business day during normal business hours where such notice is to be received), or the first business day following such delivery
(if delivered other than on a business day during normal business hours where such notice is to be received) or (ii) on the second
business day following the date of mailing by express courier service or on the fifth business day after deposited in the mail,
in each case, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.

 

The addresses
for such communications shall be:

 

If to
the Company:

 

VPR Brands,
LP

3001 Griffin Road

    

    

    

 

Fort Lauderdale, FL 33312

Email: Kevin.Frija@vprbrands.com

Attention: Kevin Frija

 

If to the Investor:

 

DiamondRock, LLC

__________________

__________________

Email: Neil@DiamondRockCap.com

 

Either party hereto may from time to time change
its address or email for notices under this Section 9.1 by giving at least ten (10) days’ prior written notice of such changed
address to the other party hereto.

 

Section 9.2 INDEMNIFICATION.
Each party (an “Indemnifying Party”) agrees to indemnify and hold harmless the other party along with its officers,
directors, employees, and authorized agents, and each Person or entity, if any, who controls such party within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act (an “Indemnified Party”) from and against any Damages,
joint or several, and any action in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising
out of or relating to (i) any misrepresentation, breach of warranty or nonfulfillment of or failure to perform any covenant or
agreement on the part of the Indemnifying Party contained in this Agreement, (ii) any untrue statement or alleged untrue statement
of a material fact contained in the Registration Statement or any post-effective amendment thereof or supplement thereto, or the
omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein
not misleading, (iii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus
or contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto
with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein,
in the light of the circumstances under which the statements therein were made, not misleading, or (iv) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation under the
Securities Act, the Exchange Act or any state securities law, as such Damages are incurred, except to the extent such Damages result
primarily from the Indemnified Party’s failure to perform any covenant or agreement contained in this Agreement or the Indemnified
Party’s negligence, recklessness or bad faith in performing its obligations under this Agreement; provided, however,
that the foregoing indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent, but only to the extent,
arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made by an Indemnifying
Party in reliance upon and in conformity with written information furnished to the Indemnifying Party by the Indemnified Party
expressly for use in the Registration Statement, any post-effective amendment thereof or supplement thereto, or any preliminary
prospectus or final prospectus (as amended or supplemented).

 

Section 9.3 METHOD
OF ASSERTING INDEMNIFICATION CLAIMS. All claims for indemnification by any Indemnified Party under Section 9.2 shall be asserted
and resolved as follows:

 

(a) In the event any claim
or demand in respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted against or sought to be collected
from such Indemnified Party by a Person other than a party hereto or an affiliate thereof (a “Third Party Claim”),
the Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if any, and specifying the nature
of and basis for such Third Party Claim and for the Indemnified Party’s claim for indemnification that is being asserted
under any provision of Section 9.2 against an Indemnifying Party, together with the amount or, if not then reasonably ascertainable,
the estimated amount, determined in good faith, of such Third Party Claim (a “Claim Notice”) with reasonable
promptness to the Indemnifying Party. If the Indemnified Party fails to provide the Claim Notice with reasonable promptness after
the Indemnified Party receives notice of such Third Party Claim, the Indemnifying Party shall not be obligated to indemnify the
Indemnified Party with respect to such Third Party Claim to the extent that the Indemnifying Party’s ability to defend has
been prejudiced by such failure of the Indemnified Party. The Indemnifying Party shall notify the Indemnified Party as soon as
practicable within the period ending thirty (30) calendar days following receipt by the Indemnifying Party of either a Claim Notice
or an Indemnity Notice (as defined below) (the “Dispute Period”) whether the Indemnifying Party disputes its
liability or the amount of its liability to the Indemnified Party under Section 9.2 and whether the Indemnifying Party desires,
at its sole cost and expense, to defend the Indemnified Party against such Third Party Claim.

 

(i) If the Indemnifying
Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Indemnified Party
with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall have the right to defend,
with counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying Party, such Third
Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently prosecuted by the Indemnifying
Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but only with the consent of the Indemnified
Party in the case of any settlement that provides for any relief other than the payment of monetary damages or that provides for
the payment of monetary damages as to which the Indemnified Party shall not be indemnified in full pursuant to Section 9.2). The
Indemnifying Party shall have full control of such defense and proceedings, including any compromise or

    

    

    

settlement thereof; provided, however,
that the Indemnified Party may, at the sole cost and expense of the Indemnified Party, at any time prior to the Indemnifying Party’s
delivery of the notice referred to in the first sentence of this clause (i), file any motion, answer or other pleadings or take
any other action that the Indemnified Party reasonably believes to be necessary or appropriate to protect its interests; and provided, further,
that if requested by the Indemnifying Party, the Indemnified Party will, at the sole cost and expense of the Indemnifying Party,
provide reasonable cooperation to the Indemnifying Party in contesting any Third Party Claim that the Indemnifying Party elects
to contest. The Indemnified Party may participate in, but not control, any defense or settlement of any Third Party Claim controlled
by the Indemnifying Party pursuant to this clause (i), and except as provided in the preceding sentence, the Indemnified Party
shall bear its own costs and expenses with respect to such participation. Notwithstanding the foregoing, the Indemnified Party
may take over the control of the defense or settlement of a Third Party Claim at any time if it irrevocably waives its right to
indemnity under Section 9.2 with respect to such Third Party Claim.

 

(ii) If the Indemnifying
Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Third Party
Claim pursuant to Section 9.3(a), or if the Indemnifying Party gives such notice but fails to prosecute vigorously and diligently
or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice whatsoever within the Dispute Period, then
the Indemnified Party shall have the right to defend, at the sole cost and expense of the Indemnifying Party, the Third Party Claim
by all appropriate proceedings, which proceedings shall be prosecuted by the Indemnified Party in a reasonable manner and in good
faith or will be settled at the discretion of the Indemnified Party(with the consent of the Indemnifying Party, which consent will
not be unreasonably withheld). The Indemnified Party will have full control of such defense and proceedings, including any compromise
or settlement thereof; provided, however, that if requested by the Indemnified Party, the Indemnifying Party will, at the sole
cost and expense of the Indemnifying Party, provide reasonable cooperation to the Indemnified Party and its counsel in contesting
any Third Party Claim which the Indemnified Party is contesting. Notwithstanding the foregoing provisions of this clause (ii),
if the Indemnifying Party has notified the Indemnified Party within the Dispute Period that the Indemnifying Party disputes its
liability or the amount of its liability hereunder to the Indemnified Party with respect to such Third Party Claim and if such
dispute is resolved in favor of the Indemnifying Party in the manner provided in clause (iii) below, the Indemnifying Party will
not be required to bear the costs and expenses of the Indemnified Party’s defense pursuant to this clause (ii) or of the
Indemnifying Party’s participation therein at the Indemnified Party’s request, and the Indemnified Party shall reimburse
the Indemnifying Party in full for all reasonable costs and expenses incurred by the Indemnifying Party in connection with such
litigation. The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the Indemnified
Party pursuant to this clause (ii), and the Indemnifying Party shall bear its own costs and expenses with respect to such participation.

 

(iii) If the Indemnifying
Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability to the Indemnified Party
with respect to the Third Party Claim under Section 9.2 or fails to notify the Indemnified Party within the Dispute Period whether
the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party with respect to such Third
Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed a liability of the Indemnifying Party
under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying
Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the
Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however,
that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to
institute such legal action as it deems appropriate.

 

(b) In the event any Indemnified
Party should have a claim under Section 9.2 against the Indemnifying Party that does not involve a Third Party Claim, the Indemnified
Party shall deliver a written notification of a claim for indemnity under Section 9.2 specifying the nature of and basis for such
claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith, of such
claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying Party. The failure by any Indemnified
Party to give the Indemnity Notice shall not impair such party’s rights hereunder except to the extent that the Indemnifying
Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the Indemnified Party that
it does not dispute the claim or the amount of the claim described in such Indemnity Notice or fails to notify the Indemnified
Party within the Dispute Period whether the Indemnifying Party disputes the claim or the amount of the claim described in such
Indemnity Notice, the amount of Damages specified in the Indemnity Notice will be conclusively deemed a liability of the Indemnifying
Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If
the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying
Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that
if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute
such legal action as it deems appropriate. 

 

(c) The Indemnifying Party
agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for any reasonable legal fees
or other reasonable expenses incurred by them in connection with investigating or defending any such Claim.

 

(d) The indemnity provisions
contained herein shall be in addition to (i) any cause of action or similar rights of the Indemnified Party against the Indemnifying
Party or others, and (ii) any liabilities the Indemnifying Party may be subject to.

    

    

    

 

ARTICLE X

MISCELLANEOUS

 

Section 10.1 GOVERNING
LAW; JURISDICTION. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Delaware
without regard to the principles of conflicts of law. Each of the Company and the Investor hereby submits to the exclusive jurisdiction
of the United States federal and state courts located in New York, NY, with respect to any dispute arising under the Transaction
Documents or the transactions contemplated thereby.

 

Section 10.2 JURY
TRIAL WAIVER. The Company and the Investor hereby waive a trial by jury in any action, proceeding or counterclaim brought by
either of the parties hereto against the other in respect of any matter arising out of or in connection with the Transaction Documents.

 

Section 10.3 ASSIGNMENT.
This Agreement shall be binding upon and inure to the benefit of the Company and the Investor and their respective successors.
Neither this Agreement nor any rights of the Investor or the Company hereunder may be assigned by either party to any other Person.

 

Section 10.4 NO
THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the Company and the Investor and their respective
successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as set forth in
Section 9.3.

 

Section 10.5 TERMINATION.
The Company may terminate this Agreement at any time by written notice to the Investor, except during any Valuation Period. In
addition, this Agreement shall automatically terminate on the earlier of (i) the end of the Commitment Period; (ii) the date that
the Company sells and the Investor purchases the Maximum Commitment Amount; (iii) the date in which the Registration Statement
is no longer effective; (iv) the date on which the trading of the Common Units shall have been suspended by the SEC, the Principal
Market or FINRA, or otherwise halted for any reason, or the Common Units shall have been delisted from the Principal Market; or
(v) the date that, pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person
commences a proceeding against the Company, a Custodian is appointed for the Company or for all or substantially all of its property
or the Company makes a general assignment for the benefit of its creditors; provided, however, that the provisions of Articles
III, IV, V, VI, IX and the agreements and covenants of the Company and the Investor set forth in Article X shall survive the termination
of this Agreement.

 

Section 10.6 ENTIRE
AGREEMENT. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of
the Company and the Investor with respect to the matters covered herein and therein and supersede all prior agreements and understandings,
oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and
schedules.

 

Section 10.7 FEES
AND EXPENSES. Except as expressly set forth in the Transaction Documents or any other writing to the contrary, each party shall
pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all
Transfer Agent fees (including, without limitation, any fees required for same-day processing of any instruction letter delivered
by the Company), stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Investor.

  

Section 10.8 COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which may be executed by less than all of the parties and shall
be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts and
all of which together shall constitute one and the same instrument. This Agreement may be delivered to the other parties hereto
by email of a copy of this Agreement bearing the signature of the parties so delivering this Agreement.

 

Section 10.9 SEVERABILITY.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that such severability shall be
ineffective if it materially changes the economic benefit of this Agreement to any party.

  

Section 10.10 FURTHER
ASSURANCES. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

Section 10.11 NO
STRICT CONSTRUCTION. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

    

    

    

 

Section 10.12 EQUITABLE
RELIEF. The Company recognizes that in the event that it fails to perform, observe, or discharge any or all of its obligations
under this Agreement, any remedy at law may prove to be inadequate relief to the Investor. The Company therefore agrees that the
Investor shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual
damages.

 

Section 10.13 TITLE
AND SUBTITLES. The titles and subtitles used in this Agreement are used for the convenience of reference and are not to be
considered in construing or interpreting this Agreement.

 

Section 10.14 AMENDMENTS;
WAIVERS. No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Trading
Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence,
(i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii) no
provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such
waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of
any other right, power or privilege.

  

Section 10.15 PUBLICITY.
The Company and the Investor shall consult with each other in issuing any press releases or otherwise making public statements
with respect to the transactions contemplated hereby and no party shall issue any such press release or otherwise make any such
public statement, other than as required by law, without the prior written consent of the other parties, which consent shall not
be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure is required by law, in which
such case the disclosing party shall provide the other party with prior notice of such public statement. The Investor acknowledges
that this Agreement and all or part of the Transaction Documents may be deemed to be “material contracts,” as that
term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may therefore be required to file such documents as
exhibits to reports or registration statements filed under the Securities Act or the Exchange Act. The Investor further agrees
that the status of such documents and materials as material contracts shall be determined solely by the Company, in consultation
with its counsel.

 

Section 10.16 EXECUTION
DATE. For the avoidance of doubt, this Agreement shall only be effective as of the Execution Date.

 

Section 10.17 PARTICIPATION
IN FUTURE FINANCING.

 

(a) If the SEC declares the
Registration Statement for the Put Shares effective, during the 12 month period immediately following the date the SEC declares
the Registration Statement for the Put Shares effective, upon any issuance by the Company or any of its Subsidiaries of Common
Units or Common Units Equivalents for cash consideration, indebtedness or a combination of units thereof (a “Subsequent
Financing”), the Investor shall have the right to participate in up to an amount of the Subsequent Financing (that is
not an Exempt Issuance), equal to 50% of the Subsequent Financing (the “Participation Maximum”) on the same
terms, conditions and price provided for in such Subsequent Financing; provided, however, where (i) the Person or Persons through
or with whom such Subsequent Financing is proposed to be effected will not agree to such participation by the Investor and (ii)
the Investor will not agree to finance the total amount of such Subsequent Financing in lieu of the Person or Persons through or
with whom such Subsequent Financing is proposed to be effected, the Investor shall have no right to participate in such Subsequent
Financing. 

 

(b) Between the time period
of 4:00 pm (New York City time) and 6:00 pm (New York City time) on the Trading Day immediately prior to the Trading Day of the
expected announcement of the Subsequent Financing (or, if the Trading Day of the expected announcement of the Subsequent Financing
is the first Trading Day following a holiday or a weekend (including a holiday weekend), between the time period of 4:00 pm (New
York City time) on the Trading Day immediately prior to such holiday or weekend and 2:00 pm (New York City time) on the day immediately
prior to the Trading Day of the expected announcement of the Subsequent Financing), the Company shall deliver to the Investor a
written notice of the Company’s intention to effect a Subsequent Financing (a “Subsequent Financing Notice”),
which notice shall describe in reasonable detail the proposed terms of such Subsequent Financing, the amount of proceeds intended
to be raised thereunder and the Person or Persons through or with whom such Subsequent Financing is proposed to be effected and
shall include a term sheet and transaction documents relating thereto as an attachment.

 

(c) The Investor desiring
to participate in such Subsequent Financing must provide written notice to the Company by 6:30 am (New York City time) on the Trading
Day following the date on which the Subsequent Financing Notice is delivered to the Investor (the “Notice Termination Time”)
that the Investor is willing to participate in the Subsequent Financing, the amount of the Investor’s participation, and
representing and warranting that the Investor has such funds ready, willing, and available for investment on the terms set forth
in the Subsequent Financing Notice, holds a number of shares of Common Units acquired pursuant to this Agreement equal to or greater
than the number proposed to be purchased in the Subsequent Financing, and will not as a result of such purchase beneficially own
more than 9.99% of shares of Common Units, either individually or as part of a “group” as defined in Section 13(d)
of the Exchange Act. If the Company receives no such notice from the Investor as of such Notice Termination Time, the Investor
shall be deemed to have notified the Company that it does not elect to participate in such Subsequent Financing.

    

    

    

 

(d) If, by the Notice Termination
Time, notifications by the Investor of its willingness to participate in the Subsequent Financing (or to cause their designees
to participate) is, in the aggregate, less than the total amount of the Subsequent Financing, then the Company may affect the remaining
portion of such Subsequent Financing on the terms and with the Persons set forth in the Subsequent Financing Notice. Notwithstanding
the foregoing, if (i) the Person or Persons through or with whom such Subsequent Financing is proposed to be effected will not
agree to such participation by the Investor and (ii) the Investor will not agree to finance the total amount of such Subsequent
Financing in lieu of the Person or Persons through or with whom such Subsequent Financing is proposed to be effected, the Investor
shall have no right to participate in such Subsequent Financing.

 

(e) The Company must provide
the Investor with a second Subsequent Financing Notice, and the Investor will again have the right of participation set
forth above in this Section 10.17, if the definitive agreement related to the initial Subsequent Financing Notice is not entered
into for any reason on the terms set forth in such Subsequent Financing Notice within two (2) Trading Days after the date of delivery
of the initial Subsequent Financing Notice.

 

(f) The Company and the Investor
agree that, in connection with a Subsequent Financing, the transaction documents related to the Subsequent Financing shall include
a requirement for the Company to issue a widely disseminated press release by 9:30 am (New York City time) on the Trading Day of
execution of the transaction documents in such Subsequent Financing (or, if the date of execution is not a Trading Day, on the
immediately following Trading Day) that discloses the material terms of the transactions contemplated by the transaction documents
in such Subsequent Financing.

 

(g) Notwithstanding anything
to the contrary in this Section 10.17 and unless otherwise agreed to by the Investor, the Company shall either confirm in writing
to the Investor that the transaction with respect to the Subsequent Financing has been abandoned or shall publicly disclose its
intention to issue the securities in the Subsequent Financing, in either case in such a manner such that the Investor will not
be in possession of any material, non-public information, by 9:30 am (New York City time) on the second (2nd) Trading Day following
date of delivery of the Subsequent Financing Notice. If by 9:30 am (New York City time) on such second (2nd) Trading Day, no public
disclosure regarding a transaction with respect to the Subsequent Financing has been made, and no notice regarding the abandonment
of such transaction has been received by the Investor, such transaction shall be deemed to have been abandoned and the Investor
shall not be deemed to be in possession of any material, non-public information with respect to the Company or any of its Subsidiaries.

 

(h) Notwithstanding the foregoing,
this Section 10.17 shall not apply in respect of an Exempt Issuance.

 

(i) “Exempt Issuance”
means the issuance of (a) shares of Common Units or options to employees, officers or directors of the Company pursuant to any
stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors or a majority
of the members of a committee of non-employee directors established for such purpose for services rendered to the Company; provided
that such issuances shall not exceed up to 2,000,000 shares of Common Units or Common Units Equivalents in any 12-month period
(subject to adjustment for reverse and forward stock splits and the like), (b) securities upon the exercise or exchange of or conversion
of any Securities issued hereunder and/or other securities exercisable or exchangeable for or convertible into shares of Common
Units issued and outstanding on the date of this Agreement, provided that such securities have not been amended since the date
of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price
of such securities (other than in connection with stock splits or combinations) or to extend the term of such securities, and (c)
securities issued pursuant to acquisitions, strategic transactions, or, up to 2,000,000 shares of Common Units or Common Units
Equivalents in any 12-month period (subject to adjustment for reverse and forward stock splits and the like), issued in payment
of contractor invoices in the ordinary course of business, approved by a majority of the disinterested directors of the Company,
provided that such securities are issued as “restricted securities” (as defined in Rule 144) and carry no registration
rights that require or permit the filing of any registration statement in connection therewith, and provided that any such issuance
shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company
or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional
benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities
primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

 

[signature page follows]

 

    

    

    

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized as of the day
and year written below.

 

	 	VPR BRANDS, LP
	 	 
	 	By:	/s/ Kevin Frija
	 	Name: 	Kevin Frija
	 	Title:	Chief Executive Officer
	 	 Date:  02/19/2020
	 	
         

        DIAMONDROCK, LLC

	 	 
	 	By:	/s/ Neil B. Rock
	 	Name:	Neil Rock
	 	
        Title:

        Date:
	
        Manager

        02/19/2020

 

[Signature Page to Equity Purchase Agreement]

 

    

    

    

 

DISCLOSURE SCHEDULES TO

EQUITY PURCHASE AGREEMENT

 

Schedule 4.3 – Capitalization

 

None.

 

Schedule 4.5 – SEC Documents

 

The Company’s Annual Report on 10-K for
the year ended 12/31/18 was not filed until 5/6/19 which was after the extended due date for same.

 

Schedule 4.9 – Litigation

 

None.

 

Schedule 4.10 – Registration Rights

 

None.

 

    

    

    

 

EXHIBIT A

 

FORM OF PUT NOTICE

 

TO: DIAMONDROCK, LLC

DATE: ____________________

 

We refer to the Equity
Purchase Agreement, dated February 19, 2020 (the “Agreement”), entered into by and between VPR Brands, LP and
you. Capitalized terms defined in the Agreement shall, unless otherwise defined herein, have the same meaning when used herein.

 

We hereby:

 

1) Give you notice that we require you to purchase $__________ (the
“Investment Amount”) in Put Shares; and

 

2) The purchase price per share, pursuant to the terms of the Agreement,
is _________; and

 

3) Certify that, as of the date hereof, the conditions set forth
in Section 7.2 of the Agreement are satisfied.

 

	 	VPR BRANDS, LP
	 	 	 
	 	By:	 
	 	Name: 	 
	 	Title:	 

   

    

    

    

 

EXHIBIT B

 

FORM OF OFFICER’S CERTIFICATE

OF VPR BRANDS, LP

 

Pursuant to Section 7.2(k)
of that certain Equity Purchase Agreement, dated February 19, 2020 (the “Agreement”), by and between VPR Brands,
LP (the “Company”) and DiamondRock, LLC (the “Investor”), the undersigned, in his capacity
as Chief Execute Officer of the Company, and not in his individual capacity, hereby certifies, as of the date hereof (such date,
the “Condition Satisfaction Date”), the following:

 

1. The representations
and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction Date as though made
on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular date) with respect
to all periods, and as to all events and circumstances occurring or existing to and including the Condition Satisfaction Date,
except for any conditions which have temporarily caused any representations or warranties of the Company set forth in the Agreement
to be incorrect and which have been corrected with no continuing impairment to the Company or the Investor; and

 

2. All of the conditions
precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including but not limited to Section
7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.

 

Capitalized terms used
herein shall have the meanings set forth in the Agreement unless otherwise defined herein.

 

IN WITNESS WHEREOF,
the undersigned has hereunto affixed his hand as of the ______________________.

 

	 	By:	 
	 	Name: 	 
	 	Title:Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of February 19, 2020 (provided, however, that this Agreement
shall only be effective as of the date that this Agreement is signed by the Company (as defined in this Agreement) and the Buyer
(as defined in this Agreement) (the “Execution Date”)), by and between VPR Brands, LP., a
Delaware limited partnership (the “Company”), and DiamondRock, LLC, a New York limited liability
company (together with it permitted assigns, the “Buyer”). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings set forth in the Equity Purchase Agreement by and between the parties hereto, dated as
of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”).

 

WHEREAS:

 

The Company has agreed,
upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Buyer up to Five Million Dollars ($5,000,000.00)
of Put Shares and to induce the Buyer to enter into the Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute
(collectively, the “Securities Act”), and applicable state securities laws.

 

NOW, THEREFORE, in
consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

1. DEFINITIONS.

 

As used in this Agreement,
the following terms shall have the following meanings:

 

a. “Investor”
means the Buyer, any transferee or assignee thereof to whom a Buyer assigns its rights under this Agreement in accordance with
Section 9 and who agrees to become bound by the provisions of this Agreement, and any transferee or assignee thereof to whom a
transferee or assignee assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound by the
provisions of this Agreement.

 

b. “Person”
means any individual or entity including but not limited to any corporation, a limited liability company, an association, a partnership,
an organization, a business, an individual, a governmental or political subdivision thereof or a governmental agency.

 

c. “Register,”
“registered,” and “registration” refer to a registration effected by preparing and filing
one or more registration statements of the Company in compliance with the Securities Act and/or pursuant to Rule 415 under the
Securities Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”), and
the declaration or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission
(the “SEC”).

 

d. “Registrable
Securities” means all of the Put Shares which have been, or which may, from time to time be issued, including without
limitation all of the shares of common units which have been issued or will be issued to the Investor under the Purchase Agreement
(without regard to any limitation or restriction on purchases), and any and all shares of capital stock issued or issuable with
respect to the Put Shares, shares of common units issued to the Investor as a result of any stock split, stock dividend, recapitalization,
exchange or similar event or otherwise, without regard to any limitation on purchases under the Purchase Agreement.

 

e. “Registration
Statement” means one or more registration statements of the Company covering only the sale of the Registrable Securities.

 

2. REGISTRATION.

 

a. Mandatory Registration. The
Company shall, on or before the date which is forty-five (45) days after the Execution Date, file with the SEC an initial Registration
Statement covering the maximum number of Registrable Securities as shall be permitted to be included thereon in accordance with
applicable SEC rules, regulations and interpretations so as to permit the resale of such Registrable Securities by the Investor,
including but not limited to under Rule 415 under the Securities Act at then prevailing market prices (and not fixed prices), as
mutually determined by both the Company and the Investor in consultation with their respective legal counsel, subject to the aggregate
number of authorized shares of the Company’s Common Units then available for issuance in its Certificate of Limited Partnership.
The initial Registration Statement shall register only the Registrable Securities. The Investor and its counsel shall have a reasonable
opportunity to review and comment upon such Registration Statement and any amendment or supplement to such Registration Statement
and any related prospectus prior to its filing with the SEC, and the Company shall give due consideration

    

    

    

to all reasonable comments. The Investor shall
furnish all information reasonably requested by the Company for inclusion therein. The Company shall use its reasonable best efforts
to have the Registration Statement and any amendment declared effective by the SEC at the earliest possible date. The Company shall
use reasonable best efforts to keep the Registration Statement effective, including but not limited to pursuant to Rule 415 promulgated
under the Securities Act and available for the resale by the Investor of all of the Registrable Securities covered thereby at all
times until the earlier of (i) the date as of which the Investor may sell all of the Registrable Securities without restriction
pursuant to Rule 144 promulgated under the Securities and (ii) the date on which the Investor shall have sold all the Registrable
Securities covered thereby and no available amount remains under the Purchase Agreement (the “Registration Period”).
The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the
statements therein, in light of the circumstances in which they were made, not misleading. The Company shall use it reasonable
best efforts to cause such Registration Statement to become effective within ninety (90) days following the filing thereof.

 

b. Rule 424 Prospectus.
The Company shall, as required by applicable securities regulations, from time to time file with the SEC, pursuant to Rule 424
promulgated under the Securities Act, the prospectus and prospectus supplements, if any, to be used in connection with sales of
the Registrable Securities under the Registration Statement. The Investor and its counsel shall have a reasonable opportunity to
review and comment upon such prospectus prior to its filing with the SEC, and the Company shall give reasonable due consideration
to all reasonable comments. The Investor shall use its reasonable best efforts to comment upon such prospectus within one (1) business
day from the date the Investor receives the final pre-filing version of such prospectus.

 

c. Sufficient Number
of Shares Registered. In the event the number of shares available under the Registration Statement is insufficient to cover
all of the Registrable Securities, the Company shall amend the Registration Statement or file a new Registration Statement (a “New
Registration Statement”), so as to cover all of such Registrable Securities (subject to the limitations set forth in
Section 2(a)) as soon as practicable, but in any event not later than ten (10) business days after the necessity therefor arises,
subject to any limits that may be imposed by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use it reasonable
best efforts to cause such amendment and/or New Registration Statement to become effective as soon as practicable following the
filing thereof. In the event that any of the Put Shares are not included in the Registration Statement, or have not been included
in any New Registration Statement and the Company files any other registration statement under the Securities Act (other than on
Form S-4, Form S-8, or with respect to other employee related plans or rights offerings) (“Other Registration Statement”)
then the Company shall first include in such Other Registration Statement all of such Put Shares that have not been previously
registered, and second any other securities the Company wishes to include in such Other Registration Statement.  The Company
agrees that it shall not file any such Other Registration Statement unless all of the Put Shares have been included in such Other
Registration Statement or otherwise have been registered for resale as described above.

 

d. Offering.
If the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a Registration
Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration Statement
to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed prices),
or if after the filing of the initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise required
by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then the
Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (with the prior
consent, which shall not be unreasonably withheld, of the Investor and its legal counsel as to the specific Registrable Securities
to be removed therefrom) until such time as the Staff and the SEC shall so permit such Registration Statement to become effective
and be used as aforesaid. In the event of any reduction in Registrable Securities pursuant to this paragraph, the Company shall
file one or more New Registration Statements in accordance with Section 2(c) until such time as all Registrable Securities have
been included in Registration Statements that have been declared effective and the prospectus contained therein is available for
use by the Investor. Notwithstanding any provision herein or in the Purchase Agreement to the contrary, the Company’s obligations
to register Registrable Securities (and any related conditions to the Investor’s obligations) shall be qualified as necessary
to comport with any requirement of the SEC or the Staff as addressed in this Section 2(d).

 

3. RELATED OBLIGATIONS.

 

With respect to the Registration
Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on any New Registration
Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities in accordance
with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

a. The Company shall
prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any registration statement
and the prospectus used in connection with such registration statement, which prospectus is to be filed pursuant to Rule 424 promulgated
under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement effective at
all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act with respect
to the disposition of all Registrable Securities of the Company covered by the Registration Statement

    

    

    

or any New Registration Statement until such
time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by
the seller or sellers thereof as set forth in such registration statement.

 

b. The Company shall
permit the Investor to review and comment upon the Registration Statement or any New Registration Statement and all amendments
and supplements thereto at least two (2) business days prior to their filing with the SEC, and not file any document in a form
to which Investor reasonably objects. The Investor shall use its reasonable best efforts to comment upon the Registration Statement
or any New Registration Statement and any amendments or supplements thereto within one (1) business day from the date the Investor
receives the final version thereof. The Company shall furnish to the Investor, without charge any correspondence from the SEC or
the staff of the SEC to the Company or its representatives relating to the Registration Statement or any New Registration Statement.

 

c. Upon request of the
Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the SEC, at least one
copy of such registration statement and any amendment(s) thereto, including financial statements and schedules, all documents incorporated
therein by reference and all exhibits, (ii) upon the effectiveness of any registration statement, a copy of the prospectus included
in such registration statement and all amendments and supplements thereto (or such other number of copies as the Investor may reasonably
request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Investor may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by the Investor. For the avoidance
of doubt, any filing available to the Investor via the SEC’s live EDGAR system shall be deemed “furnished to the Investor”
hereunder.

 

d. The Company shall
use reasonable best efforts to (i) register and qualify the Registrable Securities covered by a registration statement under such
other securities or “blue sky” laws of such jurisdictions in the United States as the Investor reasonably requests,
(ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other
actions as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period,
and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions;
provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do
business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself
to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The
Company shall promptly notify the Investor who holds Registrable Securities of the receipt by the Company of any notification with
respect to the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities
or “blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening
of any proceeding for such purpose.

 

e. As promptly as practicable
after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening of any event or
existence of such facts as a result of which the prospectus included in any registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare a supplement
or amendment to such registration statement to correct such untrue statement or omission, and deliver a copy of such supplement
or amendment to the Investor (or such other number of copies as the Investor may reasonably request). The Company shall also promptly
notify the Investor in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and
when a registration statement or any post-effective amendment has become effective (notification of such effectiveness shall be
delivered to the Investor by email or facsimile on the same day of such effectiveness and by overnight mail), (ii) of any request
by the SEC for amendments or supplements to any registration statement or related prospectus or related information, and (iii)
of the Company’s reasonable determination that a post-effective amendment to a registration statement would be appropriate.

 

f. The Company shall
use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of any registration
statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and, if such an order
or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify the
Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of
any proceeding for such purpose.

 

g. The Company shall
(i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class or series
issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules
of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market. The Company
shall pay all fees and expenses in connection with satisfying its obligation under this Section.

 

h. The Company shall
cooperate with the Investor to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legend)
representing the Registrable Securities to be offered pursuant to any registration statement and enable such certificates to be
in such denominations or amounts as the Investor may reasonably request and registered in such names as the Investor may request.

 

    

    

    

 

i. The Company shall
at all times provide a transfer agent and registrar with respect to its Common Units.

 

j. If reasonably requested
by the Investor, the Company shall (i) immediately incorporate in a prospectus supplement or post-effective amendment such information
as the Investor believes should be included therein relating to the sale and distribution of Registrable Securities, including,
without limitation, information with respect to the number of Registrable Securities being sold, the purchase price being paid
therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of such prospectus supplement
or post-effective amendment as soon as practicable upon notification of the matters to be incorporated in such prospectus supplement
or post-effective amendment; and (iii) supplement or make amendments to any registration statement.

 

k. The Company shall
use its reasonable best efforts to cause the Registrable Securities covered by any registration statement to be registered with
or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

l. Within one (1) business
day after any registration statement which includes the Registrable Securities is ordered effective by the SEC, the Company shall
deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with
copies to the Investor) confirmation that such registration statement has been declared effective by the SEC in the form attached
hereto as Exhibit A. Thereafter, if requested by the Buyer at any time, the Company shall require its counsel to deliver
to the Buyer a written confirmation whether or not the effectiveness of such registration statement has lapsed at any time for
any reason (including, without limitation, the issuance of a stop order) and whether or not the registration statement is current
and available to the Buyer for sale of all of the Registrable Securities.

 

m. The Company shall
take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable Securities pursuant
to any registration statement.

  

4. OBLIGATIONS
OF THE INVESTOR.

 

a. The Company shall
notify the Investor in writing of the information the Company reasonably requires from the Investor in connection with any registration
statement hereunder. The Investor shall furnish to the Company such information regarding itself, the Registrable Securities held
by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect
the registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company
may reasonably request.

 

b. The Investor agrees
to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of any registration
statement hereunder.

 

c. The Investor agrees
that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind described in
Section 3(f) or the first sentence of 3(e), the Investor will immediately discontinue disposition of Registrable Securities pursuant
to any registration statement(s) covering such Registrable Securities until the Investor’s receipt of the copies of the supplemented
or amended prospectus contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding anything to the contrary, the
Company shall cause its transfer agent to promptly deliver shares of Common Units without any restrictive legend in accordance
with the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor
has entered into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any
event of the kind described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet settled.

 

5. EXPENSES OF
REGISTRATION.

 

All reasonable expenses,
other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections
2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, and fees
and disbursements of counsel for the Company, shall be paid by the Company.

  

6. INDEMNIFICATION.

 

a. To the fullest extent
permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each Person, if any, who
controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of the Investor and each
Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) (each, an “Indemnified Person”), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in settlement or expenses, joint
or several, (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit,
inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or
other regulatory agency, body or the SEC, whether pending or threatened, whether or not an Indemnified Person is or may be a party
thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or actions
or proceedings, whether commenced or threatened, in respect

    

    

    

thereof) arise out of or are based upon: (i)
any untrue statement or alleged untrue statement of a material fact in the Registration Statement, any New Registration Statement
or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities
or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in the final prospectus
(as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or
alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances
under which the statements therein were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation thereunder
relating to the offer or sale of the Registrable Securities pursuant to the Registration Statement or any New Registration Statement
or (iv) any material violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively,
“Violations”). The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and
are due and payable, for any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating
or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained
in this Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation which occurs
in reliance upon and in conformity with information about the Investor furnished to the Company by such Indemnified Person expressly
for use in connection with the preparation of the Registration Statement, any New Registration Statement or any such amendment
thereof or supplement thereto, if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section
3(e); (ii) with respect to any superseded prospectus, shall not inure to the benefit of any such person from whom the person asserting
any such Claim purchased the Registrable Securities that are the subject thereof (or to the benefit of any person controlling such
person) if the untrue statement or omission of material fact contained in the superseded prospectus was corrected in the revised
prospectus, as then amended or supplemented, if such revised prospectus was timely made available by the Company pursuant to Section
3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not to use the incorrect prospectus prior to the
use giving rise to a violation and such Indemnified Person, notwithstanding such advice, used it; (iii) shall not be available
to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus made available
by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e); and (iv)
shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of
the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of the Indemnified Person.

 

b. Promptly after receipt
by an Indemnified Person under this Section 6 of notice of the commencement of any action or proceeding (including any governmental
action or proceeding) involving a Claim, such Indemnified Person shall, if a Claim in respect thereof is to be made against any
indemnifying party under this Section 6, deliver to the indemnifying party a written notice of the commencement thereof, and the
indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any
other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the
indemnifying party and the Indemnified Person; provided, however, that an Indemnified Person shall have the right to retain its
own counsel with the fees and expenses to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained
by the indemnifying party, the representation by such counsel of the Indemnified Person and the indemnifying party would be inappropriate
due to actual or potential differing interests between such Indemnified Person and any other party represented by such counsel
in such proceeding. The Indemnified Person shall cooperate fully with the indemnifying party in connection with any negotiation
or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably
available to the or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified
Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying
party shall be liable for any settlement of any action, claim or proceeding effectuated without its written consent, provided,
however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall,
without the consent of the Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Person of a
release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying
party shall be subrogated to all rights of the Indemnified Person with respect to all third parties, firms or corporations relating
to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend such action.

 

c. The indemnification
required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense,
as and when bills are received or Indemnified Damages are incurred.

 

d. The indemnity agreements
contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Person against the indemnifying
party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

     

     

    

 

7. CONTRIBUTION.

 

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however,
that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

 

8. REPORTS AND
DISCLOSURE UNDER THE SECURITIES ACTS.

 

With a view to making available
to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation of the SEC
that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule 144”),
the Company agrees, at the Company’s sole expense, to:

 

a. make and keep public
information available, as those terms are understood and defined in Rule 144;

 

b. file with the SEC
in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act so long
as the Company remains subject to such requirements and the filing of such reports and other documents is required for the applicable
provisions of Rule 144;

 

c. furnish to the Investor
so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company that it has
complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of the
most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such
other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration;
and

 

d. take such additional
action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule 144, including,
without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company’s
Transfer Agent as may be requested from time to time by the Investor and otherwise fully cooperate with Investor and Investor’s
broker to effect such sale of securities pursuant to Rule 144.

 

The Company agrees that damages
may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor shall, whether or not
it is pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunctions, without
having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

9. ASSIGNMENT OF
REGISTRATION RIGHTS.

 

The Company shall not assign
this Agreement or any rights or obligations hereunder without the prior written consent of the Investor. The Investor may not assign
its rights under this Agreement without the written consent of the Company.

 

10. AMENDMENT OF
REGISTRATION RIGHTS.

 

No provision of this Agreement
may be amended or waived by the parties from and after the date that is one business day immediately preceding the initial filing
of the Registration Statement with the SEC. Subject to the immediately preceding sentence, no provision of this Agreement may be
(i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument
signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

11. MISCELLANEOUS.

 

a. A Person is deemed
to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities. If
the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable
Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such
Registrable Securities.

 

b. Any notices, consents,
waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will
be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile or email
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii)
one (1) business day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to
the party to receive the same. The addresses for such communications shall be:

    

    

    

 

If to the Company:

 

VPR Brands, LP

3001 Griffin Road

Fort Lauderdale, FL 33312

Email: Kevin.Frija@vprbrands.com

Attention: Kevin Frija

 

If to the Investor:

 

DiamondRock, LLC

_________________

_________________

Email: Neil@DiamondRockCap.com

 

or at such other address and/or facsimile number
and/or to the attention of such other person as the recipient party has specified by written notice given to each other party three
(3) business days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such
notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine
or email account containing the time, date, recipient facsimile number or email address, as applicable, and an image of the first
page of such transmission or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of
personal service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause
(i), (ii) or (iii) above, respectively.

 

c. The corporate laws
of the State of Delaware shall govern all issues concerning this Agreement. All other questions concerning the construction, validity,
enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of Delaware, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of Delaware. Each party hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in New York, NY, for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If any provision of this
Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of
this Agreement in any other jurisdiction. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT
OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

d. This Agreement and
the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof.
There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein.
This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties hereto with respect
to the subject matter hereof and thereof.

 

e. Subject to the requirements
of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of
the parties hereto.

 

f. The headings in this
Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

g. This Agreement may
be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the
same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or by e-mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

h. Each party shall
do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents, as the other party may reasonably request in

    

    

    

order to carry out the intent and accomplish
the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

i. The language used
in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of strict
construction will be applied against any party.

 

j. This Agreement is
intended for the benefit of the parties hereto and their respective successors and permitted assigns, and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person.

 

k. For the avoidance
of doubt, this Agreement shall only be effective as of the Execution Date.

 

* * * * * *

 

[signature page follows]

 

    

    

    

 

IN WITNESS WHEREOF, the
parties have caused this Agreement to be duly executed as of day and year written below.

 

	 	VPR BRANDS, LP
	 	 
	 	
         

        By:
	
         

        /s/ Kevin Frija

	 	Name: 	Kevin Frija
	 	Title:	
        Chief Executive Officer

        02/19/2020

	 	
        Date:

         

	 	DIAMONDROCK, LLC
	 	 
	 	By:	/s/ Neil B. Rock
	 	Name:	Neil B. Rock
	 	
        Title:

        Date:
	
        Manager

        02/19/2020

 

[Signature Page to Registration Rights
Agreement]

 

    

    

    

 

EXHIBIT A

 

TO REGISTRATION RIGHTS AGREEMENT

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

______, 2020

 

Transhare Corporation

2849 Executive Dr STE 200

Clearwater, FL 33762

 

Re: [__________]

 

Ladies and Gentlemen:

 

We are counsel to VPR
BRANDS, LP, a Delaware limited partnership (the “Company”), and have represented the Company in connection
with that certain Equity Purchase Agreement, dated as of February 19, 2020 (the “Purchase Agreement”), entered
into by and between the Company and DiamondRock, LLC (the “Buyer”) pursuant to which the Company has agreed
to issue to the Buyer shares of the Company’s Common Units, no par value (the “Common Units”), in an amount
up to Five Million Dollars ($5,000,000.00) (the “Put Shares”), in accordance with the terms of the Purchase
Agreement. In connection with the transactions contemplated by the Purchase Agreement, the Company has registered with the U.S.
Securities & Exchange Commission the following shares of Common Units: __________ Put Shares to be issued to the Buyer upon
purchase from the Company by the Buyer from time to time in accordance with the Purchase Agreement.

  

Pursuant to the Purchase
Agreement, the Company also has entered into a Registration Rights Agreement, of even date with the Purchase Agreement with the
Buyer (the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register
the Put Shares under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the Company’s
obligations under the Purchase Agreement and the Registration Rights Agreement, on [_____], 2020, the Company filed a Registration
Statement (File No. 333-[_________]) (the “Registration Statement”) with the Securities and Exchange Commission
(the “SEC”) relating to the resale of the Put Shares.

 

In connection with the
foregoing, we advise you that a member of the SEC’s staff has advised us by telephone that the SEC has entered an order declaring
the Registration Statement effective under the Securities Act at [_____] [A.M./P.M.] on [__________], 2020 and we have no knowledge,
after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its effectiveness has been issued
or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Put Shares are available for resale
under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive legend.

 

	 	Very truly yours,

 

 

 

 

cc:DiamondRock, LLC

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