Document:

Exhibit
10.2

 

ESCROW
AGREEMENT

 

THIS
ESCROW AGREEMENT (this “Agreement”) is entered into as of August 17, 2022 (the “Effective Date”)
by and among NATURALSHRIMP INCORPORATED, a Nevada corporation (“NaturalShrimp”), STREETERVILLE CAPITAL, LLC, a Utah
limited liability company (“Streeterville”), and HANSEN BLACK ANDERSON ASHCRAFT PLLC, a Utah professional limited
liability company (“Escrow Agent”). Each of NaturalShrimp and Streeterville may be referred to individually as a “Party”
or collectively as the “Parties”. Each of NaturalShrimp, Streeterville and Escrow Agent may be referred to individually
as an “Escrow Party” or collectively as the “Escrow Parties”. All capitalized terms used herein
but not otherwise defined shall have the meanings ascribed to them in the Purchase Agreement (defined below).

 

A.
The Parties desire that Streeterville deposit $3,900,000.00
(the “Escrow Amount”) into escrow.

 

B.
The Parties desire that Escrow Agent hold and disburse
the Escrow Amount, and Escrow Agent has agreed to hold the Escrow Amount in escrow and disburse the Escrow Amount, according to the terms
and conditions of this Agreement.

 

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

 

AGREEMENT

 

1.
Appointment of Escrow Agent; Escrow Agent Fees; Expenses. The Parties hereby appoint Escrow Agent as escrow agent for the purposes
set forth herein, and Escrow Agent hereby accepts such appointment on the terms set forth herein. Escrow Agent shall receive as compensation
for the services to be rendered by Escrow Agent hereunder fees charged at its standard rate for administration of the escrow described
herein, along with reimbursement for all reasonable expenses, disbursements and advances incurred or made by Escrow Agent in performance
of its duties hereunder (including reasonable fees, expenses and disbursements of its counsel). All such fees are payable by NaturalShrimp.

 

2.
Delivery of Escrow. Within five (5) days of the execution hereof, Streeterville shall deliver the Escrow Amount to Escrow Agent.
The Escrow Amount shall be held by Escrow Agent pursuant to the terms hereof.

 

3.
Termination of Escrow. Escrow Agent shall release the Escrow Amount (or portion thereof) to NaturalShrimp upon its receipt of
written disbursement instructions (the “Instructions”) from Streeterville. Streeterville covenants and agrees to deliver
Instructions to Escrow Agent within five (5) days of the occurrence of the following events: (a) $500,000.00 of the Escrow Amount to
be released following the date that NaturalShrimp (i) files a Schedule 14C authorizing a reverse stock split in a range of 1:33 to 1:100;
and (ii) files a shelf registration statement on Form S-3; and (b) $3,400,000.00 of the Escrow Amount to be released upon completion
of a successful uplist to NYSE or NASDAQ (the “Escrow Release Condition”). In the event the Escrow Release Conditions
have not be satisfied within sixty (60) days of the Effective Date, Streeterville may: (1) leave the Escrow Amount in escrow for as long
as it sees fit; (2) instruct Escrow Agent to send all or any portion of the Escrow Amount to NaturalShrimp; or (3) instruct Escrow Agent
to send all or any portion of the Escrow Amount to Streeterville.

 

    	 

    	 

    

 

4.
Liability of Escrow Agent. Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no other
duties shall be implied. Escrow Agent may rely upon and shall not be liable for acting or refraining from acting upon any written notice,
instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper
Party or Parties. Escrow Agent shall be under no duty to inquire into or investigate the validity, accuracy or content of any such document.
Escrow Agent shall have no duty to solicit any payments which may be due it. Escrow Agent shall not be liable for any action taken or
omitted by it in good faith except to the extent that a court of competent jurisdiction or arbitrator, as applicable, determines that
Escrow Agent’s gross negligence, willful misconduct or fraud was the primary cause of any loss to a Party. Escrow Agent may execute
any of its powers and perform any of its duties hereunder directly or through agents or attorneys and may consult with counsel, accountants
and other skilled persons to be selected and retained by it in its sole discretion, provided that any such delegation shall not relieve
Escrow Agent from its obligations, duties and responsibilities hereunder. Escrow Agent shall not be liable for anything done, suffered
or omitted in good faith by it in accordance with the advice or opinion of any such counsel, accountants or other skilled persons. In
the event that Escrow Agent shall be uncertain as to its duties or rights hereunder or shall receive instructions, claims or demands
from any Party which, in its opinion, conflict with any of the provisions of this Agreement, or with any instructions, claims or demands
from any other Party, it shall refrain from taking any action and its sole obligation shall be to keep safely all property held in escrow
until it shall be directed otherwise in writing by all of the Parties or by a final arbitration decision or a non-appealable order or
judgment of a court of competent jurisdiction. Anything in this Agreement to the contrary notwithstanding, in no event shall Escrow Agent
be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even
if Escrow Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

 

All
of the terms and conditions in connection with Escrow Agent’s duties and responsibilities, and the rights of the Parties or anyone
else, are contained solely in this Agreement, and Escrow Agent is not expected or required to be familiar with the provisions of any
other agreements, and shall not be charged with any responsibility or liability in connection with the observance of the provisions of
any such other agreements.

 

Except
as herein expressly provided, none of the provisions of this Agreement shall require Escrow Agent to expend or risk its own funds or
otherwise incur financial liability or expense in the performance of any of its duties hereunder.

 

Escrow
Agent is hereby authorized to comply with and obey all final non-appealable orders, judgments, decrees or writs entered or issued by
any court or final decision of any arbitrator, and in the event Escrow Agent obeys or complies with any such final non-appealable order,
judgment, decree or writ of any court or final decision of any arbitrator, in whole or in part, after giving the Parties seven (7) days’
prior written notice, it shall not be liable to any of the Parties hereto, nor to any other person or entity, by reason of such compliance,
notwithstanding that it shall be determined that any such final non-appealable order, judgment, decree, writ, or final decision of a
court or final decision of any arbitrator be entered without jurisdiction or be invalid for any reason or be subsequently reversed, modified,
annulled or vacated.

 

    	 

    	 

    

 

5.
Resignation or Removal of Escrow Agent. Escrow Agent (and any successor Escrow Agent) may at any time resign as such by delivering
the Escrow Amount in its possession to any successor Escrow Agent jointly designated by the other Parties hereto in writing, or to any
court of competent jurisdiction, whereupon Escrow Agent shall be discharged of and from any and all further obligations arising in connection
with this Agreement. The Parties shall also have the right at any time upon mutual agreement to substitute a new escrow agent by giving
written notice thereof to Escrow Agent. The resignation or removal of Escrow Agent shall take effect on the earlier of (i) the appointment
of a successor (including a court of competent jurisdiction), or (ii) the day which is five (5) days after the date of delivery of its
written notice of resignation to the other Parties hereto or the date on which the Parties hereto deliver written notice of removal to
Escrow Agent, as applicable. If at that time described in clause (ii) of the immediately preceding sentence, Escrow Agent has not received
a designation of a successor Escrow Agent, Escrow Agent’s sole responsibility after that time shall be to retain and safeguard
the Escrow Amount until receipt of a designation of a successor Escrow Agent or a joint written disposition instruction by the other
parties hereto or a final non-appealable order of a court of competent jurisdiction.

 

6.
Indemnification of Escrow Agent. The Parties shall jointly and severally indemnify, defend and save harmless Escrow Agent and
its members, managers, officers, agents and employees (the “Indemnified Parties”) from all loss, liability or expense
(including the reasonable fees and expenses of outside counsel) arising out of or in connection with (i) Escrow Agent’s execution
and performance of this Agreement, except in the case of any Indemnified Party to the extent that such loss, liability or expense is
due to the gross negligence, willful misconduct or fraud of such Indemnified Party, or (ii) its following any instructions or other directions
executed by the Parties. The Parties acknowledge that the foregoing indemnities shall survive the resignation or removal of Escrow Agent
or the termination of this Agreement.

 

7.
Disputes. In the event any dispute shall arise between Streeterville and NaturalShrimp with respect to the disposition or disbursement
of the Escrow Amount, Escrow Agent is permitted to interplead the Escrow Amount into a competent federal or state court within the State
of Utah, and thereafter shall be fully relieved from any and all liability or obligation with respect to the Escrow Amount. Streeterville
and NaturalShrimp further agree to pursue any redress or recourse in connection with such a dispute without making Escrow Agent a party
to same.

 

8.
Designations. The Parties shall each designate one or more persons (the “Designated Persons”) who will execute
notices and from whom Escrow Agent may take instructions hereunder or to whom Escrow Agent may give notices. Such designations may be
changed from time to time upon notice to Escrow Agent from the respective Parties. Escrow Agent will be entitled to rely conclusively
on any action taken by the Designated Persons or their respective successor designees. Initially, the Designated Persons are:

 

	For
    Streeterville:	For
    NaturalShrimp:
	John
    M. Fife	Gerald
    Easterling
	303
    East Wacker Drive, Suite 1040	5501
    LBJ Freeway, Suite 450
	Chicago,
    Illinois 60601	Dallas,
    Texas 75240

 

    	 

    	 

    

 

9. Further
Assurances. The Parties agree that, from time to time upon the written request of Escrow Agent, the Parties shall execute and
deliver such further documents and do such other acts and things as Escrow Agent may reasonably request in order to fully effectuate
the purposes of this Agreement.

 

10.
Entire Agreement. This Agreement constitutes the entire understanding and agreement of the Escrow Parties hereto with respect
to the general subject matter hereof, supersedes all prior discussions and agreements with respect thereto, and cannot be contradicted
by evidence of any alleged oral agreement. This Agreement may only be amended, modified, or rescinded by written agreement signed by
the Escrow Parties hereto.

 

11.
Authority; Counterparts. The persons signing below each represent and warrant that they have all requisite and necessary authority
to bind the Escrow Party for which they are signing to all the terms of this Agreement.
This Agreement may be executed by signatures sent by facsimile or other electronic means and in separate counterparts, each signature
page of which shall be an original copy, all of which together, when attached to the body hereof, shall constitute one instrument, binding
upon all Escrow Parties hereto, notwithstanding that all of the Escrow Parties shall not have signed the same counterparts.

 

12.
Notices. All notices, requests, demands or other communications provided for hereunder shall be in writing and mailed or delivered
to the address(es) specified above. All notices, statements, requests, demands and other communications provided for hereunder shall
be deemed to be given or made when delivered or forty-eight (48) hours after being deposited in the mails with postage prepaid by registered
or certified mail, addressed as aforesaid, or sent by email or facsimile with telephonic confirmation of receipt. Notice sent to Escrow
Agent shall be sent to: Hansen Black Anderson Ashcraft PLLC, Attn: Jonathan K. Hansen, 3051 West Maple Loop Drive, Suite 325, Lehi, Utah
84043, or via email to .

 

13.
Governing Law. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Utah, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of Utah or any other jurisdictions) that would
cause the application of the laws of any jurisdictions other than the State of Utah. The Escrow Parties hereto hereby exclusively and
irrevocably submit to, and waive any objection against, the exclusive jurisdiction and venue of any state or federal court sitting in
Salt Lake County, Utah, over any proceeding arising out of or relating to this Agreement.

 

15.
Successors and Assigns. This Agreement shall be binding upon the Escrow Parties hereto and each of their successors and assigns.

 

16.
Assignment. None of the Parties may assign their respective interests in and to this Agreement without the prior written consent
of each other Party.

 

[Remainder
of page intentionally left blank]

 

    	 

    	 

    

 

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

 

	 	NATURALSHRIMP:
	 	 	 
	 	NATURALSHRIMP INCORPORATED
	 	 	 
	 	By:	 
	 	 	Gerald
    Easterling, Chief Executive Officer
	 	 	 
	 	STREETERVILLE:
	 	 	 
	 	STREETERVILLE CAPITAL, LLC
	 	 	 
	 	By:	 
	 	 	John
    M. Fife, President
	 	 	 
	 	ESCROW AGENT:
	 	 	 
	 	HANSEN BLACK ANDERSON ASHCRAFT PLLC
	 	 	 
	 	By:	 
	 	 	Jonathan
    K. Hansen

 

[Signature
Page to Escrow Agreement]Exhibit
10.3

 

Se
c u r i t y Ag
r e e m e n t

 

THIS
SECURITY AGREEMENT (this “Agreement”), dated as of August 17, 2022, is executed by NaturalShrimp Incorporated, a Nevada
corporation (“Debtor”), in favor of Streeterville Capital, LLC, a Utah limited liability company (“Secured
Party”).

 

A.
Debtor has issued to Secured Party a certain Secured
Promissory Note of even date herewith, as may be amended from time to time, in the original face amount of $5,443,333.33 (the “Note”).

 

B.
In order to induce Secured Party to extend the credit
evidenced by the Note, Debtor has agreed to enter into this Agreement and to grant Secured Party
a security interest in the Collateral (as defined below).

 

NOW,
THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, Debtor hereby agrees with Secured Party as follows:

 

1.
Definitions and Interpretation. When used in this Agreement, the following terms have the following respective meanings:

 

“Collateral”
has the meaning given to that term in Section 2 hereof.

 

“Intellectual
Property” means all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses (software or otherwise),
information, know-how, inventions, discoveries, published and unpublished works of authorship, processes, any and all other proprietary
rights, and all rights corresponding to all of the foregoing throughout the world, now owned and existing or hereafter arising, created
or acquired.

 

“Lien”
shall mean, with respect to any property, any security interest, mortgage, pledge, lien, claim, charge or other encumbrance in, of, or
on such property or the income therefrom, including, without limitation, the interest of a vendor or lessor under a conditional sale
agreement, capital lease or other title retention agreement, or any agreement to provide any of the foregoing, and the filing of any
financing statement or similar instrument under the UCC or comparable law of any jurisdiction.

 

“Obligations”
means (a) all loans, advances, future advances, debts, liabilities and obligations, howsoever arising, owed by Debtor or any of its affiliates
and/or subsidiaries to Secured Party or any affiliate of Secured Party of every kind and description, now existing or hereafter arising,
whether created by the Note, this Agreement, that certain Securities Purchase Agreement of even date herewith, entered into by and between
Debtor and Secured Party (the “Purchase Agreement”), any other Transaction Documents (as defined in the Purchase Agreement),
any other agreement between Debtor or any affiliate or subsidiary of Secured Party) and Secured Party (or any affiliate of Secured Party)
or any other promissory note issued by Debtor (or any affiliate or subsidiary of Debtor) in favor of Secured Party (or any affiliate
of Secured Party), any modification or amendment to any of the foregoing, guaranty of payment or other contract or by a quasi-contract,
tort, statute or other operation of law, whether incurred or owed directly to Secured Party or as an affiliate of Secured Party or acquired
by Secured Party or an affiliate of Secured Party by purchase, pledge or otherwise, (b) all costs and expenses, including attorneys’
fees, incurred by Secured Party or any affiliate of Secured Party in connection with the Note or in connection with the collection or
enforcement of any portion of the indebtedness, liabilities or obligations described in the foregoing clause (a), (c) the payment of
all other sums, with interest thereon, advanced in accordance herewith to protect the security of this Agreement, and (d) the performance
of the covenants and agreements of Debtor (or any of its affiliates or subsidiaries) contained
in this Agreement and all other Transaction Documents.

 

    	 

    	 

    

 

“Permitted
Liens” means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings
for which adequate reserves have been established, (b) Liens in favor of Secured Party under
this Agreement or arising under the other Transaction Documents or prior agreements between Debtor and Secured Party, and (c) liens on
real property that have been disclosed to Secured Party in writing.

 

“UCC”
means the Uniform Commercial Code as in effect in the jurisdiction whose laws would govern the security interest in, including without
limitation the perfection thereof, and foreclosure of the applicable Collateral, or any equivalent laws in any other jurisdiction that
govern the grant of a security interest in the types of assets encumbered by this Agreement.

 

Unless
otherwise defined herein, all terms defined in the UCC have the respective meanings given to those terms in the UCC.

 

2.
Grant of Security Interest. As security for the Obligations, Debtor hereby pledges to Secured Party and grants to Secured Party,
except for Permitted Liens, a first-position security interest in all right, title, interest, claims and demands of Debtor in and to
the property described in Schedule A hereto, and all replacements, proceeds, products, and accessions thereof (collectively, the
“Collateral”).

 

3.
Authorization to File Financing Statements. Debtor hereby irrevocably authorizes Secured Party at any time and from time to time
to file in any filing office in any Uniform Commercial Code jurisdiction or other jurisdiction of Debtor or its subsidiaries any financing
statements or documents having a similar effect and amendments thereto that provide any other information required by the Uniform Commercial
Code (or similar law of any non-United States jurisdiction, if applicable) of such state or jurisdiction for the sufficiency or filing
office acceptance of any financing statement or amendment, including whether Debtor is an organization, the type of organization and
any organization identification number issued to Debtor. Debtor agrees to furnish any such information to Secured Party promptly upon
Secured Party’s request.

 

4.
General Representations and Warranties. Debtor represents and warrants to Secured Party that (a) Debtor is the owner of the Collateral
and that no other person has any right, title, claim or interest (by way of Lien or otherwise) in, against or to the Collateral, other
than Permitted Liens, (b) upon the filing of UCC-1 financing statements with the appropriate state office (or an equivalent in the appropriate
foreign office), Secured Party shall have a perfected first-position security interest in the Collateral to the extent that a security
interest in the Collateral can be perfected by such filing, except for Permitted Liens, (c) Debtor has received at least a reasonably
equivalent value in exchange for entering into this Agreement, (d) Debtor is not insolvent, as defined in any applicable state or federal
statute, nor will Debtor be rendered insolvent by the execution and delivery of this Agreement to Secured Party; and (e) as such, this
Agreement is a valid and binding obligation of Debtor.

 

    	 

    	 

    

 

5.
Additional Covenants. Debtor hereby agrees:

 

5.1.
to perform all acts that may be necessary to maintain, preserve, protect and perfect in the Collateral, the Lien granted to Secured Party
therein, and the perfection and priority of such Lien;

 

5.2.
to procure, execute (including endorse, as applicable), and deliver from time to time any endorsements, assignments, financing statements,
certificates of title, and all other instruments, documents and/or writings reasonably deemed necessary or appropriate by Secured Party
to perfect, maintain and protect Secured Party’s Lien hereunder and the priority thereof;

 

5.3.
to provide at least fifteen (15) days prior written notice to Secured Party of any of the following events: (a) any changes or alterations
of Debtor’s name, (b) any changes with respect to Debtor’s address or principal place of business, (c) the formation of any
subsidiaries of Debtor, or (d) any changes in location of the Collateral;

 

5.4.
upon the occurrence of an Event of Default (as defined in the Note) under the Note and, thereafter, at Secured Party’s request,
to endorse (up to the outstanding amount under such promissory notes at the time of Secured Party’s request), assign and deliver
any promissory notes and all other instruments, documents, or writings included in the Collateral to Secured Party, accompanied by such
instruments of transfer or assignment duly executed in blank as Secured Party may from time to time specify;

 

5.5.
to the extent the Collateral is not delivered to Secured Party pursuant to this Agreement, to keep the Collateral at the principal office
of Debtor (unless otherwise agreed to by Secured Party in writing), and not to relocate the Collateral to any other locations without
the prior written consent of Secured Party;

 

5.6.
not to sell or otherwise dispose, or offer to sell or otherwise dispose, of the Collateral or any interest therein (other than inventory
in the ordinary course of business);

 

5.7.
not to, directly or indirectly, allow, grant or suffer to exist any Lien upon any of the Collateral, other than Permitted Liens;

 

5.8.
not to grant any license or sublicense under any of its Intellectual Property, or enter into any other agreement with respect to any
of its Intellectual Property, except in the ordinary course of Debtor’s business;

 

    	 

    	 

    

 

5.9.
to the extent commercially reasonable and in Debtor’s good faith business judgment: (a) to file and prosecute diligently any patent,
trademark or service mark applications pending as of the date hereof or hereafter until all Obligations shall have been paid in full,
(b) to make application on unpatented but patentable inventions and on trademarks and service marks, (c) to preserve and maintain all
rights in all of its Intellectual Property, and (d) to ensure that all of its Intellectual Property is and remains enforceable. Any and
all costs and expenses incurred in connection with each of Debtor’s obligations under this Section 5.9 shall be borne by Debtor.
Debtor shall not knowingly and unreasonably abandon any right to file a patent, trademark or service mark application, or abandon any
pending patent application, or any other of its Intellectual Property, without the prior written consent of Secured Party except for
Intellectual Property that Debtor determines, in the exercise of its good faith business judgment, is not or is no longer material to
its business;

 

5.10.
upon the request of Secured Party at any time or from time to time, and at the sole cost and expense (including, without limitation,
reasonable attorneys’ fees) of Debtor, Debtor shall take all actions and execute and deliver any and all instruments, agreements,
assignments, certificates and/or documents reasonably required by Secured Party to collaterally assign any and all of Debtor’s
patent, copyright and trademark registrations and applications now owned or hereafter acquired to and in favor of Secured Party;

 

5.11.
at any time amounts paid by Secured Party under the Transaction Documents are used to purchase Collateral, Debtor shall perform all acts
that may be necessary, and otherwise fully cooperate with Secured Party, to cause (a) any such amounts paid by Secured Party to be disbursed
directly to the sellers of any such Collateral, (b) all certificates of title pertaining to such Collateral (as applicable) to be properly
filed and reissued to reflect Secured Party’s Lien on such Collateral, and (c) all such reissued certificates of title to be delivered
to and held by Secured Party;

 

5.12.
upon the request of Secured Party, but in any event within thirty (30) days of the date of this Agreement, Debtor shall take all actions
reasonably requested by Secured Party to perfect Secured Party’s liens on the Real Property (as defined in the Note), all as more
fully set forth in Section 1.6 of the Note.

 

    	 

    	 

    

 

6.
Authorized Action by Secured Party. Debtor hereby irrevocably appoints Secured Party as its attorney-in-fact (which appointment
is coupled with an interest) and agrees that Secured Party may perform (but Secured Party shall not be obligated to and shall incur no
liability to Debtor or any third party for failure so to do) any act which Debtor is obligated by this Agreement to perform, and to exercise
such rights and powers as Debtor might exercise with respect to the Collateral, including the right to (a) collect by legal proceedings
or otherwise and endorse, receive and receipt for all dividends, interest, payments, proceeds and other sums and property now or hereafter
payable on or on account of the Collateral; (b) enter into any extension, reorganization, deposit, merger, consolidation or other agreement
pertaining to, or deposit, surrender, accept, hold or apply other property in exchange for the Collateral; (c) make any compromise or
settlement, and take any action Secured Party deems advisable, with respect to the Collateral, including without limitation bringing
a suit in Secured Party’s own name to enforce any Intellectual Property; (d) endorse Debtor’s name on all applications, documents,
papers and instruments necessary or desirable for Secured Party in the use of any Intellectual Property; (e) grant or issue any exclusive
or non-exclusive license under any Intellectual Property to any person or entity; (f) assign, pledge, sell, convey or otherwise transfer
title in or dispose of any Intellectual Property to any person or entity; (g) cause the Commissioner of Patents and Trademarks, United
States Patent and Trademark Office (or as appropriate, such equivalent agency in foreign countries) to issue any and all patents and
related rights and applications to Secured Party as the assignee of Debtor’s entire interest therein; (h) file a copy of this Agreement
with any governmental agency, body or authority, including without limitation the United States Patent and Trademark Office and, if applicable,
the United States Copyright Office or Library of Congress, at the sole cost and expense of Debtor; (i) insure, process and preserve the
Collateral; (j) pay any indebtedness of Debtor relating to the Collateral; (k) execute and file UCC financing statements and other documents,
certificates, instruments and agreements with respect to the Collateral or as otherwise required or permitted hereunder; and (l) take
any and all appropriate action and execute any and all documents and instruments that may be necessary or useful to accomplish the purposes
of this Agreement; provided, however, that Secured Party shall not exercise any such powers granted pursuant to clauses (a) through
(g) above prior to the occurrence of an Event of Default and shall only exercise such powers during the continuance of an Event of Default.
The powers conferred on Secured Party under this Section 6 are solely to protect its interests in the Collateral and shall not impose
any duty upon it to exercise any such powers. Secured Party shall be accountable only for the amounts that it actually receives as a
result of the exercise of such powers, and neither Secured Party nor any of its stockholders, directors, officers, managers, employees
or agents shall be responsible to Debtor for any act or failure to act, except with respect to Secured Party’s own gross negligence
or willful misconduct. Nothing in this Section 6 shall be deemed an authorization for Debtor to take any action that it is otherwise
expressly prohibited from undertaking by way of other provision of this Agreement.

 

7.
Default and Remedies.

 

7.1.
Default. Debtor shall be deemed in default under this Agreement upon the occurrence of an Event of Default.

 

    	 

    	 

    

 

7.2.
Remedies. Upon the occurrence of any such Event of Default, Secured Party shall have the rights of a secured creditor under the
UCC, all rights granted by this Agreement and by law, including, without limiting the foregoing, (a) the right to require Debtor to assemble
the Collateral and make it available to Secured Party at a place to be designated by Secured Party, and (b) the right to take possession
of the Collateral, and for that purpose Secured Party may enter upon premises on which the Collateral may be situated and remove the
Collateral therefrom. Debtor hereby agrees that fifteen (15) days’ notice of a public sale of any Collateral or notice of the date
after which a private sale of any Collateral may take place is reasonable. In addition, Debtor waives any and all rights that it may
have to a judicial hearing in advance of the enforcement of any of Secured Party’s rights and remedies hereunder, including, without
limitation, Secured Party’s right following an Event of Default to take immediate possession of Collateral and to exercise Secured
Party’s rights and remedies with respect thereto. Secured Party may also have a receiver appointed to take charge of all or any
portion of the Collateral and to exercise all rights of Secured Party under this Agreement. Secured Party may exercise any of its rights
under this Section 7.2 without demand or notice of any kind. The remedies in this Agreement, including without limitation this Section
7.2, are in addition to, not in limitation of, any other right, power, privilege, or remedy, either in law, in equity, or otherwise,
to which Secured Party may be entitled. No failure or delay on the part of Secured Party in exercising any right, power, or remedy will
operate as a waiver thereof, nor will any single or partial exercise thereof preclude any other or further exercise thereof or the exercise
of any other right hereunder. All of Secured Party’s rights and remedies, whether evidenced by this Agreement or by any other agreement,
instrument or document shall be cumulative and may be exercised singularly or concurrently.

 

7.3.
Standards for Exercising Rights and Remedies. To the extent that applicable law imposes duties on Secured Party to exercise remedies
in a commercially reasonable manner, Debtor acknowledges and agrees that it is not commercially unreasonable for Secured Party (a) to
fail to incur expenses reasonably deemed significant by Secured Party to prepare Collateral for disposition, (b) to fail to obtain third
party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental
or third party consents for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection
remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any adverse
claims against Collateral, (d) to exercise collection remedies against account debtors and other persons obligated on Collateral directly
or through the use of collection agencies and other collection specialists, (e) to advertise dispositions of Collateral through publications
or media of general circulation, whether or not the Collateral is of a specialized nature, (f) to contact other persons, whether or not
in the same business as Debtor, for expressions of interest in acquiring all or any portion of the Collateral, (g) to hire one or more
professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature,
(h) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral
or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (i) to dispose of assets in wholesale
rather than retail markets, (j) to disclaim disposition warranties, (k) to purchase insurance or credit enhancements to insure Secured
Party against risks of loss, collection or disposition of Collateral or to provide to Secured Party a guaranteed return from the collection
or disposition of Collateral, or (l) to the extent deemed appropriate by Secured Party, to obtain the services of other brokers, investment
bankers, consultants and other professionals to assist Secured Party in the collection or disposition of any of the Collateral. Debtor
acknowledges that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by Secured Party
would fulfill Secured Party’s duties under the UCC in Secured Party’s exercise of remedies against the Collateral and that
other actions or omissions by Secured Party shall not be deemed to fail to fulfill such duties solely on account of not being indicated
in this Section. Without limitation upon the foregoing, nothing contained in this Section shall be construed to grant any rights to Debtor
or to impose any duties on Secured Party that would not have been granted or imposed by this Agreement or by applicable law in the absence
of this Section.

 

    	 

    	 

    

 

7.4.
Marshalling. Secured Party shall not be required to marshal any present or future Collateral for, or other assurances of payment
of, the Obligations or to resort to such Collateral or other assurances of payment in any particular order, and all of its rights and
remedies hereunder and in respect of such Collateral and other assurances of payment shall be cumulative and in addition to all other
rights and remedies, however existing or arising. To the extent that it lawfully may, Debtor hereby agrees that it will not invoke any
law relating to the marshalling of Collateral which might cause delay in or impede the enforcement of Secured Party’s rights and
remedies under this Agreement or under any other instrument creating or evidencing any of the Obligations or under which any of the Obligations
is outstanding or by which any of the Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully
may, Debtor hereby irrevocably waives the benefits of all such laws.

 

7.5.
Application of Collateral Proceeds. The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the
avails of any remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured
Party after, the occurrence of an Event of Default) shall be paid to and applied as follows:

 

(a)
First, to the payment of reasonable costs and expenses, including all amounts expended to preserve the value of the Collateral, of foreclosure
or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses, liability and advances,
including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by Secured Party;

 

(b)
Second, to the payment to Secured Party of the amount then owing or unpaid on the Note (to be applied first to accrued interest and fees
and second to outstanding principal) and all amounts owed under any of the other Transaction Documents or other documents included within
the Obligations; and

 

(c)
Third, to the payment of the surplus, if any, to Debtor, its successors and assigns, or to whosoever may be lawfully entitled to receive
the same.

 

In
the absence of final payment and satisfaction in full of all of the Obligations, Debtor shall remain liable for any deficiency.

 

8.
Miscellaneous.

 

8.1.
Notices. Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices”
in the Purchase Agreement, the terms of which are incorporated herein by this reference.

 

8.2.
Non-waiver. No failure or delay on Secured Party’s part in exercising any right hereunder shall operate as a waiver thereof
or of any other right nor shall any single or partial exercise of any such right preclude any other further exercise thereof or of any
other right.

 

8.3.
Amendments and Waivers. This Agreement may not be amended or modified, nor may any of its terms be waived, except by written instruments
signed by Debtor and Secured Party. Each waiver or consent under any provision hereof shall be effective only in the specific instances
for the purpose for which given.

 

    	 

    	 

    

 

8.4.
Assignment. This Agreement shall be binding upon and inure to the benefit of Secured Party and Debtor and their respective successors
and assigns; provided, however, that Debtor may not sell, assign or delegate rights and obligations hereunder without the prior
written consent of Secured Party.

 

8.5.
Cumulative Rights, etc. The rights, powers and remedies of Secured Party under this Agreement shall be in addition to all rights,
powers and remedies given to Secured Party by virtue of any applicable law, rule or regulation of any governmental authority, or the
Note, all of which rights, powers, and remedies shall be cumulative and may be exercised successively or concurrently without impairing
Secured Party’s rights hereunder. Debtor waives any right to require Secured Party to proceed against any person or entity or to
exhaust any Collateral or to pursue any remedy in Secured Party’s power.

 

8.6.
Partial Invalidity. If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve
the objective of the parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.

 

8.7.
Expenses. Debtor shall pay on demand all reasonable fees and expenses, including reasonable attorneys’ fees and expenses,
incurred by Secured Party in connection with the custody, preservation or sale of, or other realization on, any of the Collateral or
the enforcement or attempt to enforce any of the Obligations which are not performed as and when required by this Agreement.

 

8.8.
Entire Agreement. This Agreement and the other Transaction Documents, taken together, constitute and contain the entire agreement
of Debtor and Secured Party with respect to this particular matter and supersede any and all prior agreements, negotiations, correspondence,
understandings and communications between the parties, whether written or oral, respecting the subject matter hereof.

 

8.9.
Governing Law; Venue. Except as otherwise specifically set forth herein, the parties expressly agree that this Agreement shall
be governed solely by the laws of the State of Utah, without giving effect to the principles thereof regarding the conflict of laws;
provided, however, that enforcement of Secured Party’s rights and remedies against the Collateral as provided herein will
be subject to the UCC. The provisions set forth in the Purchase Agreement to determine the proper venue for any disputes are incorporated
herein by this reference.

 

8.10.
Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO DEMAND THAT ANY ACTION,
PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE RELATIONSHIPS OF THE PARTIES HERETO BE TRIED
BY JURY. THIS WAIVER EXTENDS TO ANY AND ALL RIGHTS TO DEMAND A TRIAL BY JURY ARISING UNDER COMMON LAW OR ANY APPLICABLE STATUTE, LAW,
RULE OR REGULATION. FURTHER, EACH PARTY HERETO ACKNOWLEDGES THAT IT IS KNOWINGLY AND VOLUNTARILY WAIVING ITS RIGHT TO DEMAND TRIAL BY
JURY.

 

    	 

    	 

    

 

8.11.
Purchase Agreement; Arbitration of Disputes. By executing this Agreement, each party agrees to be bound by the terms, conditions
and general provisions of the Purchase Agreement and the other Transaction Documents, including without limitation the Arbitration Provisions
(as defined in the Purchase Agreement) set forth as an exhibit to the Purchase Agreement.

 

8.12.
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original and all of which
together shall constitute one instrument. Any electronic copy of a party’s executed counterpart will be deemed to be an executed
original.

 

8.13.
Further Assurances. Debtor 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 Secured 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.

 

8.14.
Time of the Essence. Time is expressly made of the essence with respect to each and every provision of this Agreement.

 

[Remainder
of page intentionally left blank; signature page follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, Secured Party and Debtor have caused this Agreement to be executed as of the day and year first above written.

 

	 	SECURED
    PARTY:
	 	 
	 	Streeterville
    Capital, LLC
	 	 
	 	By: 	
	 	 	John M. Fife, President
	 	 
	 	DEBTOR:
	 	 
	 	NaturalShrimp
    Incorporated
	 	 
	 	By:	
	 	 	Gerald Easterling, CEO

 

[Signature
Page to Security Agreement]

 

    	 

    	 

    

 

SCHEDULE
A

TO
SECURITY AGREEMENT

 

All
right, title, interest, claims and demands of Debtor in and to all of Debtor’s assets owned as of the date hereof and/or acquired
by Debtor at any time while the Obligations are still outstanding, including without limitation, the following property:

 

1.
All equity interests in all wholly- or partially-owned subsidiaries of Debtor.

 

2.
All customer accounts, insurance contracts, and clients underlying such insurance contracts.

 

3.
All goods and equipment now owned or hereafter acquired, including, without limitation, all
laboratory equipment, growing equipment, computer equipment, office equipment, machinery, containers, fixtures, vehicles, and any interest
in any of the foregoing, and all attachments, accessories, accessions, replacements, substitutions, additions, and improvements to any
of the foregoing, wherever located;

 

4.
All inventory now owned or hereafter acquired, including, without limitation, all merchandise, raw materials, parts, supplies, packing
and shipping materials, work in process and finished products including such inventory as is temporarily out of Debtor’s custody
or possession or in transit and including any returns upon any accounts or other proceeds, including insurance proceeds, resulting from
the sale or disposition of any of the foregoing and any documents of title representing any of the above, and Debtor’s books relating
to any of the foregoing;

 

5.
All accounts receivable, revenues or royalties, contract rights, general intangibles, healthcare insurance receivables, payment intangibles
and commercial tort claims, now owned or hereafter acquired, including, without limitation, all patents, patent rights and patent applications
(including without limitation, the inventions and improvements described and claimed therein, and (a) all reissues, divisions, continuations,
renewals, extensions and continuations-in-part thereof, (b) all income, royalties, damages, proceeds and payments now and hereafter due
or payable under or with respect thereto, including, without limitation, damages and payments for past or future infringements thereof,
(c) the right to sue for past, present and future infringements thereof, and (d) all rights corresponding thereto throughout the world),
trademarks and service marks (and applications and registrations therefor), inventions, discoveries, copyrights and mask works (and applications
and registrations therefor), trade names, trade styles, software and computer programs including source code, trade secrets, methods,
published and unpublished works of authorship, processes, know how, drawings, specifications, descriptions, and all memoranda, notes,
and records with respect to any research and development, goodwill, license agreements, information, any and all other proprietary rights,
franchise agreements, blueprints, drawings, purchase orders, customer lists, route lists, infringements, claims, computer programs, computer
disks, computer tapes, literature, reports, catalogs, design rights, income tax refunds, payments of insurance and rights to payment
of any kind and whether in tangible or intangible form or contained on magnetic media readable by machine together with all such magnetic
media, and all rights corresponding to all of the foregoing throughout the world, now owned and existing or hereafter arising, created
or acquired;

 

    	 

    	 

    

 

6.
All now existing and hereafter arising accounts, contract rights, royalties, license rights and all other forms of obligations owing
to Debtor arising out of the sale or lease of goods, the licensing of technology or the rendering of services by Debtor (subject, in
each case, to the contractual rights of third parties to require funds received by Debtor to be expended in a particular manner), whether
or not earned by performance, and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned
to or reclaimed by Debtor and Debtor’s books relating to any of the foregoing;

 

7.
All documents, cash, deposit accounts, letters of credit, letter of credit rights, supporting obligations, certificates of deposit, instruments,
chattel paper, electronic chattel paper, tangible chattel paper and investment property, including, without limitation, all securities,
whether certificated or uncertificated, security entitlements, securities accounts, commodity contracts and commodity accounts, and all
financial assets held in any securities account or otherwise, wherever located, now owned or hereafter acquired and Debtor’s books
relating to the foregoing;

 

8.
All real property (including all fixtures and improvements thereon), including, without limitation, Debtor’s real property located
at: 833 County Road 583, La Coste, Texas, 78039; 401 Des Moines Street, Webster City, Iowa 50595; 2567 190th Street, Blairsburg, Iowa,
50034; and 12282 200th Street, Radcliffe, Iowa 50006.

 

9.
All other assets, goods and personal property of Debtor, wherever located, whether tangible or intangible, and whether now owned or hereafter
acquired; and

 

10.
Any and all claims, rights and interests in any of the above and all substitutions for, additions and accessions to and proceeds and
products thereof, including, without limitation, insurance, condemnation, requisition or similar payments and the proceeds thereof.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]