Document:

EXHIBIT 10.1

 

SUPPLY AGREEMENT

 

THIS SUPPLY AGREEMENT is made as
of March 1, 2010 between MAMAMANCINI’S LLC, a New Jersey limited liability company having its principal offices at 627 Inwood
Lane, South Orange, NJ 07079 (“MamaMancini’s”), and Joseph Epstein Foods, Inc. D/B/A Hors D’oeuvres Unlimited,
a New Jersey corporation having a mailing address at 25 Branca Rd #B, East Rutherford, NJ 07073 (“HDU”).

 

Background

 

MamaMancini’s desires that
HDU manufacture a line of beef meatballs with sauce, Italian sausage with sauce and other similar Italian meats with sauces for
commercial distribution and sale (each a “Product” and collectively the “Products”), and sell the Products
to MamaMancini’s on an exclusive basis, and HDU desires so to manufacture and sell the Products, upon the terms and conditions
set forth below.

 

The parties hereby agree as follows:

 

1.     Appointment.

 

(a)      Grant.
Upon the terms and conditions hereof, MamaMancini’s grants to HDU a license, revocable in accordance herewith, to use MamaMancini’s’s
recipes, formulas methods and ingredients for the preparation and production of Products for manufacturing the Product and all
future improvements, modifications, substitutions and replacements developed by MamaMancini’s therefor (collectively, the
“Recipes”) which the parties acknowledge is a valuable trade secret, and HDU hereby accepts such grant. HDU hereby
agrees to manufacture the Products for, and sell the Product to, MamaMancini’s and hereby grants unto MamaMancini’s,
the exclusive right to purchase the Product.

 

(b)     Term.
The term of this Agreement shall commence on the date hereof and shall continue until 11:59 P.M., February 28, 2015, and thereafter
for successive additional periods of one (1) year each, unless and until terminated as of the expiration of the initial or any
subsequent renewal term by either party upon written notice given to the other party at least nine (9) months prior to such termination
date.

 

2.     Rights
and Obligations of the Parties.

 

(a)      Manufacture
of Products. HDU agrees to manufacture, package, and store the Products under the conditions and in accordance with
the principles and practices according to the standards of the trade, and consistent with all applicable laws and regulations
including without limitation, regulations of the United States Department of Agriculture (“USDA”). HDU shall ensure
that the quality, materials and generally the characteristics of the Product (including, without limitation, taste, texture, color
and overall appearance) are substantially similar to the Products previously supplied by HDU to, and approved by, MamaMancini’s.
HDU shall maintain a quality assurance team which shall oversee production of the Product. Not less frequently than annually,
HDU shall engage NSF-Cook & Thurber, or another independent third party expert acceptable to both HDU and MamaMancini’s,
to conduct a process-based food safety and quality audit to determine whether HDU has appropriately designed systems that are
being operated under continual control to assure product safety, quality, and consistency; and shall take any corrective actions
required by such audit. HDU agrees to manufacture and package the Product itself, solely through its own employees, and shall
not be permitted to delegate or sub license all or any part of such manufacture or packaging without the prior written consent
of MamaMancini’s.

 

    	 

    	 

    

  

(b)     Product
Expense. Except as otherwise provided below, any and all costs and expenses, direct and indirect, attributable to the
manufacture, packaging, and storage of the Product shall be the sole responsibility and obligation of HDU which shall in no event
be entitled to claim or receive reimbursement or indemnity from MamaMancini’s in connection therewith. If MamaMancini’s
specifies any change in packaging or shipping materials which results in HDU incurring increased expense for packaging and shipping
materials or in HDU being unable to utilize obsolete packaging or shipping materials in ordinary packaging or shipping, MamaMancini’s
agrees to pay as additional product cost the additional cost for packaging and shipping materials and to purchase at cost such
obsolete packaging and shipping materials. If MamaMancini’s requests any repackaging of the Product, other than due to defects
in the original packaging, MamaMancini’s will reimburse HDU for any labor costs incurred in repackaging.

 

(c)     Orders
for and Supply of Product. HDU agrees to manufacture and sell to MamaMancini’s such quantity of the Product as
MamaMancini’s may at any time and from time to time order in writing from HDU during the term hereof, up to HDU’s
capacity, and agrees to supply MamaMancini’s with the same.

 

(1)     Purchase
Orders. MamaMancini’s agrees to place written Purchase Orders for each delivery of Product including deliveries
orally requested by MamaMancini’s. HDU shall not be deemed to have received an order until actual receipt by it of the written
Purchase Order. If a Purchase Order exceeds HDU’s capacity, HDU shall so notify MamaMancini’s within three (3) business
days following receipt by HDU of such Purchase Order. Such notice shall include the date on which HDU is able to fill such Purchase
Order. Within three (3) business days following receipt by MamaMancini’s of such notice, MamaMancini’s may revoke
any portion of the Purchase Order that HDU is unable to deliver in accordance the terms thereof. Any portion of such Purchase
Order which MamaMancini’s does not so revoke shall be deemed modified for delivery on the date specified by HDU in such
notice.

 

(2)     Delivery.
Subject to the foregoing paragraph, HDU shall deliver Product within twenty one (21) days after its receipt of a written Purchase
Order for delivery from MamaMancini’s, or on such later date as may be specified in the Purchase Order. The Product shall
be delivered by HDU for shipment to, and in accordance with the shipping instructions and at the expense of, MamaMancini’s,
F.O.B. HDU’s premises. Notwithstanding the foregoing if any outstanding invoices from HDU to MamaMancini’s are past
due, HDU may suspend shipment to MamaMancini’s until payments are brought current.

 

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(d)     Marketing
of Product. MamaMancini’s shall market the Product, to such extent and in such manner as determined by MamaMancini’s
in its sole discretion, and at its own cost and expense.

 

(e)      Insurance.
HDU agrees to obtain and maintain in effect throughout the term of this Agreement products liability insurance with aggregate
limits of One Million Dollars ($ 1,000,000) and a commercial umbrella policy with limits of Five Million Dollars ($5,000,000)
in the aggregate. As long as HDU is able to do so, HDU shall include MamaMancini’s as an insured under such policies. Premiums
for the products liability insurance shall be allocated between HDU and MamaMancini’s on a pro-rata basis, based on each
of their respective gross sales (excluding inter-company sales); and premiums for the umbrella policy shall be shared equally
between HDU and MamaMancini’s. If HDU is not able to include Mamamancini’s as an insured under its policies, HDU shall
name MamaMancini’s as an additional insured to the extent its interest may appear. HDU shall cause MamaMancini’s to
be given advance written notice of any cancellation of such insurance. If HDU is not able to include Mamamancini’s as an
insured under its policies, MamaMancini’s agrees to obtain and maintain in effect throughout the term of this Agreement
a general liability insurance policy with limits of One Million Dollars ($1,000,000) and a commercial umbrella insurance policy
with limits of Five Million Dollars ($5,000,000); and to name HDU as an additional insured on said policies. MamaMancini’s
shall cause HDU to be given advance written notice of any cancellation of such insurance.

 

(f)      Second
Source of Product. MamaMancini’s shall then have the right to purchase Product from one or more other manufacturers,
distributors or suppliers.

 

3.     Pricing
and Payments.

 

(a)      Price.
The price to be paid by MamaMancini’s to HDU with respect to the Product throughout the term of this Agreement (including
any renewal or extension thereof) shall be $0.25 per pound, plus direct costs as agreed upon in advance and as set forth on Schedule
A, attached hereto and made a part hereof. Schedule A may be modified, as agreed to by the parties. Such modifications, if any,
shall be dated and signed by MamaMancini’s and HDU, and shall become effective on the date set forth therein which will
be not less than thirty (30) days following the execution thereof. If the parties are unable to agree to a modification, either
party may terminate this Agreement on 30 days written notice.

 

(b)      Net
Purchase Price; Taxes, etc. Any present or future sales, use, excise, or similar tax applicable to the sale of the
Products shall be paid by MamaMancini’s or, in lieu thereof, MamaMancini’s shall provide HDU with a tax exemption
certificate acceptable to the applicable taxing authorities.

 

(c)      Payment
Terms. HDU shall invoice MamaMancini’s for the purchase price respecting each shipment of the Product. Payment
terms shall be net ten (10) days.

 

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4.     Trademark,
Trade Names and Property Rights.

 

(a)      Use
of Trademarks and Trade Names. MamaMancini’s shall market the Product in the Territory under the trademark “MAMAMANCINI’S”
and/or such other trademark(s) and/or trade name(s) as MamaMancini’s shall from time to time deem desirable, whether or
not registered or registrable, copyrighted or copyrightable, in whole or in part, in all or any portion of the Territory (collectively,
the “MamaMancini’s Marks”).

 

(b)     Right
to Marks.

 

(1)      MamaMancini’s
Marks. All right, title and interest in and to the MamaMancini’s Marks shall be the sole and exclusive property
of MamaMancini’s, and HDU acknowledges that it has no property or other rights in or to the MamaMancini’s Marks, including,
without limitation, the right to use any of the MamaMancini’s Marks, either during or after the termination of this Agreement.
HDU agrees that if at any time it shall acquire or otherwise obtain (by agreement, operation of law or otherwise) any right, title
or interest in or to any of the MamaMancini’s Marks, it shall promptly notify MamaMancini’s of the facts and circumstances
thereof and, in any event, shall assign the same to MamaMancini’s for and in consideration of the sum of one dollar ($1.00).

 

(c)      Unlawful
Use of Marks. HDU agrees that it shall not, at any time during or after the term of this Agreement, directly or indirectly,
take any action to contest the validity of the MamaMancini’s Marks or otherwise interfere with MamaMancini’s’s
rights thereto or the goodwill represented thereby.

 

(d)      Infringement.
HDU agrees to promptly notify MamaMancini’s of any information which comes to its attention from any source (i) respecting
the infringement, imitation, illegal use or misuse of the MamaMancini’s Marks or the Product, or any attempt of the foregoing,
and (ii) that the use of the MamaMancini’s Marks or the marketing of the Product in the Territory may infringe the trademarks,
trade names, patents, designs or any other rights of third parties. MamaMancini’s agrees to indemnify, defend and hold harmless
HDU and all of its shareholders, officers, directors, employees and agents (collectively, “Related Parties”) from
and against all damages finally awarded against HDU and/or its Related Parties, and all reasonable expenses incurred by HDU and
its Related Parties, as the result of any claim that the marketing of the Product or use of the MamaMancini’s Marks in the
Territory infringes the trademarks, trade names, patents, designs or any other rights of third parties; provided,
however, that (i) MamaMancini’s
shall have the sole control of the defense of any such claim and all negotiations for its settlement and compromise (although
HDU may participate therein through counsel of its own choice and at its sole cost and expense) and (ii) HDU and its Related Parties
shall cooperate fully with MamaMancini’s in connection with such claim as herein provided.

 

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5.     Product
Warranty; Exclusive Warranty.

 

(a)      Product
Warranty. HDU warrants to MamaMancini’s that the Product sold to MamaMancini’s pursuant to this Agreement
will be of good quality and ingredients, free of defects, merchantable and acceptable according to the standards of the trade,
have a shelf life of twelve (12) months from the date of manufacture if properly handled and properly kept frozen, and will conform
to the specifications agreed upon by the parties. This warranty shall survive any inspection, delivery, acceptance, payment or
sale by MamaMancini’s, its employees or customers of the Product. In the event that any shipment (or part thereof) of the
Product sold to MamaMancini’s hereunder proves to be not in compliance with the foregoing warranty, then the same may be
rejected by MamaMancini’s at any time during the twenty (20) day period following its date of shipment, and delivered twenty
(20) days after its date of rejection to HDU at the expense and risk of HDU, and HDU shall, at the option of MamaMancini’s,
either (i) replace such shipment (or part thereof) and deliver the same, transportation charges prepaid, to MamaMancini’s
or (ii) give MamaMancini’s credit for said returned shipment (or part thereof) of the Product, plus transportation charges
paid thereon, if any, by MamaMancini’s.

 

(b)      Exclusive
Warranty. THE WARRANTY SET FORTH IN THIS PARAGRAPH 5 IS THE ONLY WARRANTY GIVEN BY HDU CONCERNING THE PRODUCT AND IS
EXPRESSLY IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR
A PARTICULAR PURPOSE.

 

6.     Confidentiality;
Non-Competition.

 

(a)      Confidentiality.
HDU covenants and agrees that it shall not (and shall use its best efforts to the utmost to ensure that its officers, directors,
employees and agents do not), at any time during the term of this Agreement or thereafter, in any manner, directly or indirectly,
reveal, divulge or make known to any person (other than its employees and agents with a “need to know”) or use for
its own account or for the benefit of any third party, the identity of MamaMancinr s’s customers or other customer information,
the terms and conditions of this Agreement, trade secrets or recipes (including the Recipe), and any other “know-how”
relating to the manufacture of the Product or any secret or confidential information used by MamaMancini’s or which relates
to MamaMancini’s’s business or affairs or the Product, which has been made known to HDU or come to the attention of
HDU, its officers, directors, employees and agents (collectively, “Confidential Information”). HDU and its officers,
directors, employees and agents shall retain all such Confidential Information in trust for the sole benefit of MamaMancini’s.

 

(b)      Non-Competition.
HDU covenants and agrees that it shall not (and shall use its best efforts to the utmost to ensure that its officers, directors,
employees and agents do not), (i) at any time during the term of this Agreement or thereafter, in any manner, directly or indirectly,
develop, manufacture, sell, distribute or otherwise market, any product using the Recipe or any other Confidential Information;
(iii) at any time during the term of this Agreement or for a period of two (2) years thereafter, in any manner, directly or indirectly,
develop, manufacture, sell, distribute or otherwise market, any product that competes directly with the Product in or from the
Territory. For purposes hereof, the Territory shall include the United States and export therefrom, directly or indirectly, to
any and all other geographic locations worldwide.

 

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(c)      Non-Solicitation.
MamaMancini’s and HDU each covenants and agrees that it shall not (and shall use its best efforts to the utmost to ensure
that its officers, directors, employees and agents do not), at any time during the term of this Agreement or for a period of two
(2) years thereafter solicit for employment or employ any employee (employed during the term of this Agreement) of the other provided,
however, that (i) general solicitations of employment published in a journal, newspaper or other publication of general circulation
and not specifically directed towards such employees, shall not be deemed to constitute a solicitation in violation of this Section;
and (ii) no party shall be prohibited from employing any such person, who contacts them on his or her own initiative and without
any solicitation.

 

(d)      Reasonableness.
MamaMancini’s and HDU each agrees and acknowledges that the duration, scope and geographic areas applicable to the covenants
described in this Section are fair, reasonable and necessary.

 

(e)      Injunctive
Relief; Expenses. The covenants respecting confidentiality, non-competition and non-solicitation are essential elements
hereof, the violation of which will cause irreparable injury to the non-breaching party, which may have no adequate remedy at
law. Accordingly, upon the violation or threatened violation thereof by either party, its officers, directors, employees or agents,
the non-breaching party shall have the right, in addition to any other rights or remedies it may have, to obtain in any court
of competent jurisdiction injunctive relief to restrain such violation or threatened violation or otherwise specifically enforce
any of the provisions of this Agreement. MamaMancini’s and HDU each agrees to reimburse the other for all costs and expenses,
including reasonable attorneys’ fees, incurred by it by reason of any breach or threatened breach of the covenants contained
in this Section 6.

 

(f)       MamaMancini’s
and HDU each shall require each of its officers, directors, employees and agents to execute an agreement to abide by the foregoing
provisions.

 

7.     Termination
Upon Bankruptcy.

 

Either party may, at its option, immediately
cancel this Agreement by giving written notice of such cancellation to the other party if:

 

(a)      the other
party shall (i) file a petition commencing a voluntary case under any chapter of Title 11 of the United States Code, (ii) make
a general assignment for the benefit of its creditors, (iii) admit in writing its inability to pay its debts as they mature, (iv)
file an application for, or consent to, the appointment of any receiver or a permanent or interim trustee of such party or of
all or any portion of its property, (v) file a petition seeking a reorganization of its financial affairs or to take advantage
of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting
the material allegations of a petition filed against it in any proceeding under any such law or statute, or (vi) take any corporate
action for the purpose of effecting any of the foregoing; or

 

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(b)      with
respect to the other party (i) an involuntary case commenced against the other party by the filing of a petition under chapter
7 or chapter 11 of Title 11 of the United States Code and, within sixty (60) days after the filing thereof, either the petition
is not dismissed or an order for relief is entered therein, (ii) an order, judgment or decree is entered appointing a receiver
or a permanent or interim trustee of the other party or of all or any portion of its property and such order, judgment or decree
shall continue unstayed and in effect for a period of sixty (60) days, or (iii) an order, judgment or decree is entered, without
the approval or consent of the other party, approving or authorizing the reorganization, insolvency, readjustment of debt, dissolution
or liquidation of the other party under any law or statute, and such order, judgment or decree shall continue unstayed and in
effect for a period of sixty (60) days.

 

8.     Termination
upon Default.

 

It shall be an “event of default”
if, during the term of this Agreement, either party shall be in violation of any material provision of this Agreement. Whenever
an event of default shall occur and be continuing, the non-defaulting party may, at its option, give written notice thereof to
the defaulting party, whereupon the defaulting party shall have twenty (20) business days to correct any delinquency or violation.
If such delinquency or violation has not been corrected by the expiration of said twenty (20) day period, the non-defaulting party
may, upon further written notice to the defaulting party, terminate this Agreement or suspend its performance hereunder until
such delinquency or violation has been cured. The non-defaulting party’s right to enforce its rights hereunder shall be
in addition to, and not in substitution for, all other rights and remedies available to such party under this Agreement, by operation
of law or otherwise.

 

9.     Consequences
of Termination.

 

(a)     Delivery
of Product. Upon termination of this Agreement for any reason, HDU shall immediately deliver to MamaMancini’s
any and all packaging materials, specifications and other material, documents and papers whatsoever sent by MamaMancini’s
to HDU relating to the business of MamaMancini’s or the manufacturing, marketing and distribution of the Product, and, except
as set forth below, any and all property of MamaMancini’s in HDU’s possession or under its control. The right of MamaMancini’s
to receive the aforementioned materials shall be absolute and unconditional, notwithstanding any claims which HDU may have or
assert against MamaMancini’s, whether arising under this Agreement, by reason of its termination or otherwise; provided,
however, that before delivery of such
materials HDU may demand payment of the balance, if any, of the aggregate amount owed by MamaMancini’s to HDU on account
of shipments of the Product previously delivered to and accepted by MamaMancini’s pursuant to this Agreement, less the aggregate
amount of any claims by MamaMancini’s on account of shipments of the Product in breach of the warranty contained in Paragraph
5 hereof. HDU shall also deliver to MamaMancini’s any of the Product manufactured by HDU for MamaMancini’s pursuant
to MamaMancini’s’s Purchase Order(s) before such termination, either on the dates specified by MamaMancini’s
in its Purchase Order(s) or as provided herein or, if MamaMancini’s so directs, immediately upon such termination; provided,
however, that if any order has not been
fully completed prior to such termination, MamaMancini’s shall have the option of canceling the order with respect to that
portion of the order not manufactured by HDU upon termination and shall not be required to accept any further amounts of the Product.
In addition, upon termination of this Agreement for any reason, MamaMancini’s shall have the option to purchase any or all
of the Product manufactured by HDU but not ordered by MamaMancini’s at the purchase price quoted with respect to the purchase
order next preceding such termination. Upon termination, MamaMancini’s shall reimburse HDU its actual cost for any boxes,
bags, and other packaging material utilized for the Product which are obsolete or specifically designed for the Product and returned
to MamaMancini’s. All payments for any of the Product, boxes, bags and other packaging materials delivered after termination
shall be C.O.D.

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(b)      Specific
Performance. In view of the imminent and irreparable harm to MamaMancini’s which would result from even a short
interruption in its supply of the Product, and the lack of an adequate remedy at law therefor, upon the violation or threatened
violation of HDU’s obligations under Section 9, MamaMancini’s shall have the right, in addition to any other rights
or remedies it may have, to obtain in any court of competent jurisdiction injunctive relief to compel HDU to deliver to MamaMancini’s
all of HDU’s inventory of Products and packaging materials therefor, or otherwise specifically enforce such provisions.

 

10.   Notices.

 

All notices, requests, demands, consents and
other communications required or permitted to be given or made under this Agreement shall be in writing and shall be deemed to
have been duly given or made when delivered in person or when received after dispatch by certified or registered mail, postage
prepaid, return receipt requested, to the parties hereto at their addresses first above set forth, or to such other address as
either party shall hereafter specify by notice similarly given.

 

11.   Assignment.

 

In entering into this Agreement, MamaMancini’s
has relied upon the expertise and capabilities of HDU. Accordingly, HDU may not directly or indirectly assign, sub license, delegate,
encumber or in any other manner transfer or convey any of its rights, remedies, obligations, liabilities or interests in or arising
under this Agreement, without the prior written consent of MamaMancini’s. Any attempted assignment, sub license, delegation,
encumbrance or other transfer in violation of this Agreement shall be void and of no effect, and shall be considered the violation
of a material provision hereof For purposes of this Section 10, a change of control of HDU shall be deemed an assignment, whether
by stock transfer, merger or otherwise.

 

12.  Miscellaneous.

 

(a)     Modification
and Waivers. This Agreement may not be modified or amended, nor may any rights hereunder be waived, except by an instrument
signed by an authorized officer of the party against whom the same is sought to be enforced. A waiver by any party hereto of a
breach of any term or provision of this Agreement shall not be construed as a waiver of any subsequent breach.

 

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(b)      Further
Assurances. The parties hereto 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 hereto may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement.

 

(c)      Headings
and Counterparts. Section and other headings contained in this Agreement are for reference purposes only and shall
not be deemed to be part of this Agreement or to affect its meaning or interpretation. This Agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same
instrument.

 

(d)      Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements,
understandings and arrangements, oral or written, with respect to the subject matter hereof.

 

(e)      Attorneys’
Fees. In the event of legal action to construe or enforce the provisions of this contract, the prevailing party shall
be entitled to collect his reasonable attorneys’ fees, court costs, and related expenses from the losing party and the Court
having jurisdiction of the dispute shall be authorized to determine the amount of such fees, costs and expenses and enter judgment
there for. If either party defaults and said default is cured without the necessity of filing legal action, the party in default
shall pay the other party’s reasonable attorneys’ fees and costs and expenses, if any, incurred as a result of said
default.

 

(f)       Binding
Effect; Benefits. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
legal representatives, successors and permitted assigns. Except as otherwise set forth herein, nothing in this Agreement, express
or implied, is intended to confer on any person other than the parties hereto (or their respective legal representatives, successors
or permitted assigns) any rights, remedies, obligations or liabilities under or by reason of this Agreement.

 

(g)      Governing
Law and Separability. This Agreement shall be construed and governed in accordance with the laws of the State of New
Jersey. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of Such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement
in any other jurisdiction.

 

[Signature page follows]

 

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

 

	 	MAMAMANCINI’S
    LLC
	 	 
	 	By:	/s/
    Carl Wolf
	 	Name:	CARL
    WOLF
	 	Title:	Managing
    Member
	 	 	 
	 	JOSEPH
    EPSTEIN FOODS, INC. D/B/A 

    HORS D’OEUVRES UNLIMITED
	 	 
	 	By:	/s/
    Matthew Brown
	 	Name:	Matthew
    Brown
	 	Title:	President

 

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MAMAMANCINI’S
PRICING FROM HDU FOR 2010

 ALL
PRICING AT DIRECT COSTS PLUS A S.25 PER LB FEE

 

	UPC
    CODE	 	 	Product
    Description	 	Transfer	 
	872408002135	 	 	Whole Foods Foodservice 4.51b Tray	 	$	53.73	 
	872408003132	 	 	15ct Foodservice 4.51b Tray (White Rose)	 	$	51.84	 
	872408004139	 	 	Xanthan Gum 4.51b Tray (Fresh Market)	 	$	47.52	 
	872408005136	 	 	30oz Tray Product	 	$	40.27	 
	872408007130	 	 	20oz Grab and Go	 	$	26.44	 
	872408008137	 	 	Original Foodservice 4.51b Tray	 	$	46.95	 
	872408009134	 	 	Retail 24oz Frozen Box	 	$	36.24EXHIBIT 10-2

 

DEVELOPMENT
AND LICENSE AGREEMENT BETWEEN MARKET

FINDERS
BROKERAGE, INC. AND DANIEL DAUGHERTY

 

This
Development and License Agreement (“Agreement”) is made as of January 1, 2009 between Daniel Daugherty (“Licensor”),
an individual residing at 625 Mountain Drive, South Orange, NJ 07079; and Market Finders Brokerage, Inc (“Licensee”),
a New Jersey corporation with its principal place of business at 627 Inwood Lane, South Orange, NJ 07079.

 

	1.		Development,
                                                                                      Manufacturing and Marketing of Product Line.

 

1.1     Development
by Licensor. Licensor shall develop for Licensee a line of beef meat balls with sauce, Italian sausage with sauce and other
similar Italian meats with sauces for commercial manufacture, distribution and sale (each a “Licensor Product” and
collectively the “Licensor Products”). Licensor shall work with Licensee to develop Licensor Products that are acceptable
to Licensee. Upon acceptance of a Licensor Product by Licensee, Licensor’s trade secret recipes, formulas methods and ingredients
for the preparation and production of such Licensor Products (the “Recipes”) shall be subject to this Development
and License Agreement. Upon acceptance of each Licensor Product, the parties shall prepare an Appendix hereto which shall include
a description of such Licensor Product, the Recipe for such Licensor Product, and the date of acceptance of such Licensor Product,
and shall be signed by each of the parties.

 

1.2     Other
Products Not Subject to Agreement. Licensor acknowledges that Licensee has been, is currently, and will be engaged in the
business of developing, manufacturing, distributing, marketing and selling hors d’oeuvres and other prepared food products
that have been, are being and/or will be developed other than by Licensor, the recipes for which are not substantially derived
from the Recipes (collectively, “Other Products”). Subject to the Section 1.5 below, such Other Products shall not
be subject to this Agreement and Licensor shall have no rights with respect to such Other Products.

 

1.3     Manufacturing
and Marketing by Licensee. Subject to Section 4.4 below, Licensee, at its sole expense, shall: purchase raw materials and
packaging; develop nutritional information; develop package design; manufacture and inventory the Products; provide all marketing
materials including samples, literature, and participation in trade shows; market, advertise, sell, ship and support the Products;
invoice customers and collect invoices.

 

1.4     Licensee
Improvements. Subsequent to the acceptance of a Product and the execution by the parties of an Appendix in accordance with
Section 1.1 above, Licensee may make such modifications and changes to Recipes as Licensee may determine to be necessary or appropriate
(“Licensee Improvements”). All rights, title and interest in any Licensee Improvements shall be the sole and exclusive
property of Licensee.

 

    	 

    	 

    

 

1.5     Licensee
Products. Licensee in its sole and absolute discretion may, at any time and from time to time, use the MamaMancini Marks (as
defined in Section 6.1, below) in connection with marketing and selling Other Products. If and to the extent that Licensee uses
the MamaMancini Marks in connection with marketing and selling Other Products, such Other Products shall be referred to as “Licensee
Products” for purposes of this Agreement. Licensee Products, together with Licensor Products, shall be referred to as “Products”
for purposes of this Agreement. Licensee in its sole and absolute discretion may, at any time and from time to time, cease using
the MamaMancini Marks in connection with marketing and selling any or all Other Products in which event such Other Products shall
cease to be “Licensee Products” or “Products” for purposes of this Agreement.

 

2.     Grant
of License. Licensor hereby irrevocably grants to Licensee and Licensee’s affiliates, (a) a worldwide, exclusive, license
during the Exclusive Term (as defined in Section 3.1 below); and (b) a worldwide, non-exclusive, perpetual license thereafter
during the Non-Exclusive Term (as defined in Section 3.2 below), to utilize the Recipes to manufacture or have manufactured the
Licensor Products, and to sell and distribute the Licensor Products in all channels of distribution (including, without limitation,
wholesale, internet, retail, distributor, club store, mass market, specialty catalogue, and food service including national chains,
and caterers, restaurants and hotels). Such License shall include the right to sublicense. In addition, Licensor hereby irrevocably
grants to Licensee the worldwide, non-exclusive, perpetual, right to use all know-how (if any) related thereto (the “Know-How”)
including without limitation sources of ingredients, pricing, standards and methods for quality control, and procedures for preparing,
finishing, packaging and storing Licensor Products. The licenses granted under this Agreement are specifically set forth herein,
and Licensor grants no licenses to Licensee by implication or estoppel.

 

3.     Exclusive
Term; Non-Exclusive Term; Agreement Year. The term of this agreement (the “Term”) shall consist of the Exclusive
Term (as defined in Section 3.1 below) and the Non-Exclusive Term (as defined in Section 3.2 below). The 12-month period beginning
on each January 1 and ending on each December 31 is referred to herein as an “Agreement Year.”

 

3.1     Exclusive
Term. The “Exclusive Term” begins on the date hereof (the “Effective Date”) and ends on the 50th anniversary
of the Effective Date, unless terminated or extended as provided herein. Licensor, at its option, may terminate the Exclusive
Term by notice in writing to Licensee, delivered between the 60th and the 90th day following the end of any Agreement Year if,
on or before the 60th day following the end of such Agreement Year, Licensee has not paid Licensor Royalties (as defined
in Section 4.1, below) with respect to such Agreement Year at least equal to the minimum royalty described in Section 4 below
(the “Minimum Royalty”) for such Agreement Year. Subject to the foregoing sentence, and provided Licensee has not
breached this Agreement and failed to cure such breach in accordance herewith, Licensee may extend the Exclusive Term for an additional
twenty five (25) years, by notice in writing to Licensor, delivered on or before the 50th anniversary of the Effective
Date.

 

    	2

    	 

    

 

3.2     Non-Exclusive
Term. The “Non-Exclusive Term” begins upon expiration of the Exclusive Term and continues indefinitely thereafter,
until terminated by Licensor due to a material breach hereof by Licensee that remains uncured after notice and opportunity to
cure in accordance herewith, or until terminated by Licensee.

 

3.3     Right
to Terminate. Nothing contained in this paragraph shall be construed as limiting the right of either party to terminate this
Agreement pursuant to Section 10 below.

 

4.      Royalties
and Payments.

 

4.1     Royalties.
During the Exclusive Term and the Non-Exclusive Term, subject to Section 4.13, Licensee will pay Licensor a royalty (each, a Royalty”
and, collectively, the “Royalties”) equal to the royalty rate (the “Royalty Rate”), multiplied by Licensee’s
“Net Sales” (as hereinafter defined) of Products. As used herein, “Net Sales” means gross invoiced sales
of Products, directly or indirectly to unrelated third parties, less (a) discounts (including cash discounts), and retroactive
price reductions or allowances actually allowed or granted from the billed amount (collectively “Discounts”); (b)
credits, rebates, and allowances actually granted upon claims, rejections or returns, including recalls (voluntary or otherwise)
(collectively, “Credits”); (c) freight, postage, shipping and insurance charges; (d) taxes, duties or other governmental
charges levied on or measured by the billing amount, when included in billing, as adjusted for rebates and refunds; and (e) provisions
for uncollectible accounts determined in accordance with reasonable accounting methods, consistently applied.

 

4.2     Royalty
Rate. The Royalty Rate shall be: 6% of Net Sales up to $500,000 of Net Sales for each Agreement Year; 4% of Net Sales from
$500,000 up to $2,500,000 of Net Sales for each Agreement Year; 2% of Net Sales from $2,500,000 up to $20,000,000 of Net Sales
for each Agreement Year; and 1% of Net Sales in excess of $20,000,000 of Net Sales for each Agreement Year.

 

4.3     Minimum
Royalties During Exclusive Term. In order to continue the Exclusive Term (as provided in Section 3.1 above), Licensee shall
pay Licensor a Minimum Royalty with respect to the preceding Agreement Year as follows:

 

	 	 	Minimum Royalty to be
	 	 	Paid with Respect to
	Agreement
    Year	 	Such
    Agreement Year
	lst
    and 2nd	 	$	0.00	 
	3rd and 4th	 	$	50,000.00	 
	5th,
    6th and 7th	 	$	75,000.00	 
	8th and 9th	 	$	100,000.00	 
	10th
    and thereafter	 	 	$125,000.00	 

 

    	3

    	 

    

 

4.4     Payment
of Royalties. The Royalty owed Licensor shall be calculated on a quarterly calendar basis and shall be payable no later than
60 days following the close of each calendar quarter with respect to the preceding calendar quarter, as long as Licensee continues
to sell Products. Licensee shall furnish to Licensor complete and accurate statements in a form reasonably acceptable to Licensor,
signed by an officer of Licensee, indicating the number of Products sold, the number of Discounts and Credits (if any), and Royalties
due for each calendar quarter.

 

4.5     Duty
to Pay Royalty and Right to Terminate Exclusive Term Complete Satisfaction of Licensee’s Duty. Licensee’s duty
to pay the Royalty hereunder and Licensor’s right to terminate the Exclusive Term if Licensee does not pay Licensor the
Minimum Royalty, shall constitute complete satisfaction of any duty, whether express or implied, which could be imposed upon Licensee
to commercially exploit the Products. Licensor accepts this duty and right in lieu of any best efforts obligation or other standard
of diligence on the part of Licensee.

 

4.6     Accrual
of Royalty Obligation. Royalty obligation shall accrue upon the sale of the Products regardless of the time of collection
by Licensee. For purposes of this Agreement, a Product shall be considered “sold” upon the date when such Product
is billed, invoiced, shipped, or paid for, whichever event occurs first. Licensee shall be entitled to a credit for any subsequent
Discounts and Credits.

 

4.7     Effect
of Acceptance. The receipt or acceptance by Licensor of any Royalty statement or Royalty payment shall not prevent Licensor
from subsequently challenging the validity or accuracy of such statement or payment.

 

4.8     Survival
of Royalty Obligation. Licensee’s obligations for the payment of a Royalty shall survive expiration or termination of
this Agreement and will continue for so long as Licensee continues to manufacture, sell or otherwise market the Products.

 

4.9     Form
of Payment. All payments due hereunder shall be made in United States currency drawn on a United States bank, unless otherwise
specified between the parties.

 

4.10   Taxes.
In addition to any other payments due under this Agreement, Licensee agrees to reimburse and hold Licensor harmless from any sales,
use, excise, import or export, value added or similar tax or duty, any other tax not based on Licensor’s net income, and
any governmental permit and license fees, customs fees and similar fees levied upon delivery of the deliverables and/or services
hereunder which Licensor may incur in respect of this Agreement, except when such relate to the sale of Products by Licensor hereunder.

 

4.11   Interest.
Late payments shall incur interest at the rate of one half percent (.5%) per month from the date such payments were originally
due.

 

    	4

    	 

    

 

4.12   Licensor
Efforts to Market Products. Licensor may purchase Product from Licensee, for sale directly to individual consumers, but not
to any other channel of distribution (including, without limitation, wholesale, internet, retail, distributor, club store, mass
market, specialty catalogue, and food service including national chains, and caterers, restaurants and hotels). Licensee shall
sell such Products to Licensor at a price that results in a gross profit (after freight and commissions) to Licensee equal to
40% of the total sales price (but in no event below Licensee’s cost). Such sales shall be excluded from “Net Sales”
(as such term is used in Section 4.1 above) for purposes of calculating Royalties due hereunder.

 

4.13   Licensor
Efforts to Support Licensee. Licensor will, as requested by Licensee, undertake the marketing and sales of the Products including
sales presentations, in store demonstrations, and consumer trade publicity, on a as need basis. Licensor will, as requested by
Licensee, provide such services not fewer than 80 hours per month. If Licensor is unable or unwilling (including, without limitation,
due to Licensor’s retirement, disability, or death) to provide such services during any Agreement Year then, notwithstanding
Sections 4.1 and 4.2 above, Royalties for such Agreement Year shall be limited to $200,000. The limitation on Royalties set forth
in the preceding sentence shall be Licensee’s sole remedy for Licensor’s failure to comply with this Section 4.13.

 

4.14   Licensor
Family History. Licensor grants full exclusive use of his family history to Licensee for the purposes of marketing the licensed
Recipes during the Exclusive Term of this Agreement.

 

6.
     Books and Records. Licensee and its affiliates shall keep accurate and complete books and
records as they relate hereto for three (3) years after the close of each Agreement Year. Licensor shall have the right, upon
at least five (5) days written notice and no more than once per calendar year, to cause its independent certified public accountants
to inspect Licensee’s books and records and all other documents and material in the possession of or under the control of
Licensee with respect to the subject matter of this Agreement at the place or places where such records are normally retained
by Licensee. Licensor shall have free and full access thereto for such purposes and shall be permitted to make copies thereof
and extracts therefrom. Such examination shall be at Licensor’s sole cost and expense provided that, if in an audit of Licensee’s
or any such affiliate’s records determines that there is a shortfall of five percent (5%) or more in Royalties reported
for any Agreement Year, Licensee shall reimburse Licensor for the reasonable fees of Licensor’s certified public accountants
incurred in connection with such audit. Further, in the event that such inspection reveals a discrepancy in the amount of Royalty
owed Licensor from what was actually paid, Licensee shall pay such discrepancy, plus interest, calculated at the rate of one half
percent (.5 %) per month. Any information discovered in such an inspection may be used in any proceeding based on Licensee’s
failure to pay its actual Royalty obligation.

 

    	5

    	 

    

 

6.     Trademark
Rights; Ownership of Recipes and Licensee Improvements.

 

6.1     MamaMancini
Mark. Licensee is and shall be the sole and exclusive owner of all rights, title and interest in and to the trademarks and
designs using the “MamaMancini” name (collectively, the “MamaMancini Marks”), and all goodwill associated
therewith. Licensor hereby acknowledges that Licensee is the owner of the MamaMancini Marks, for use in connection with marketing
and selling the Products.

 

6.2     Ownership
of Recipes and Licensee Improvements. Except as expressly provided in this Agreement: (a) Licensor shall retain all right,
title and interest in the original Recipes; and (b) Licensee shall retain all right, title and interest in any Licensee Improvements.

 

6.3     Cooperation.
The parties agree to execute any documents reasonably requested by the other party to effect any of the above provisions.

 

6.4     Validity
of MamaMancini Marks. Licensor acknowledges that, to Licensor’s knowledge, the MamaMancini Marks are unique and original
to Licensee and that Licensee is the owner thereof. Licensor shall not, at any time during or after the effective Term, dispute
or contest, directly or indirectly, Licensee’s exclusive right and title to the MamaMancini Marks or the validity thereof.
Licensee, however, makes no representation or warranty with respect to the validity of any trademark or copyright that may issue
or be granted therefrom.

 

6.5     Secondary
Meaning of MamaMancini Marks. Licensor acknowledges that the MamaMancini Marks have acquired secondary meaning.

 

6.6     Trademark
Notices; Infringement Litigation. Licensee will control absolutely all infringement litigation brought against third parties
involving or affecting the Mama Mancini Marks. Licensor shall cooperate with Licensee in connection with all such litigation and
will be compensated by Licensee for costs associated with such cooperation. Licensee shall have the sole and exclusive right,
in its discretion, to institute and prosecute lawsuits against third persons for infringement of the MamaMancini Marks. All sums
recovered in any such lawsuits, whether by judgment, settlement or otherwise, shall be retained solely by Licensee. Licensor agrees
to fully cooperate with Licensee in the prosecution of any such suit against a third party and shall execute all papers, testify
on all matters, and otherwise cooperate in every way necessary and desirable for the prosecution of any such lawsuit. The Licensee
shall reimburse the Licensor for any costs associated with such cooperation.

 

7.     Representations
and Warranties. Licensor represents and warrants that (a) Licensor has exclusive right, title and interest in and to the Recipes
and the Know-How, including the right to license the Recipes and the Know-How to Licensee in accordance with the terms and conditions
of this Agreement; and (b) to Licensor’s knowledge the Recipes and the Know-How do not, and will not, infringe any trademark
or other intellectual property right of any third party.

 

    	6

    	 

    

 

8.     Product
Liability Insurance. Licensee will obtain and maintain at its own expense products liability and personal injury liability
(including bodily injury and death) insurance in an amount not less than $2,000,000. Licensor shall not have any liability for
any deductible.

 

9.     Product
Quality, Safety & Inspection. Licensee shall comply with all applicable laws, regulations and standards, and shall manufacture
the Products utilizing best practices in a USDA approved facility, following the Recipes. Licensor shall have the right to monitor
and inspect the quality of the Product, at reasonable times and on reasonable notice, and prior to the commencement of manufacture
and sale of the Products.

 

10.    Termination;
Notice of Default; Right to Cure. Either party may terminate this Agreement in the event that the other party materially breaches
its obligations hereunder and fails to cure such material breach within sixty (60) days following written notice from the non-breaching
party specifying the nature of the breach. The following termination rights are in addition to the termination rights provided
elsewhere in this Agreement:

 

10.1     Termination
by Licensee. Licensee shall have the right to terminate this Agreement at any time on sixty (60) days written notice to Licensor.
In such event, all moneys paid to Licensor shall be deemed non-refundable.

 

11.    Post
Termination Rights.

 

11.1     Inventory.
Not less than thirty (30) days prior to the expiration of this Agreement or immediately upon termination thereof, Licensee shall
provide Licensor with a complete schedule of all inventory of Products then on-hand (the “Inventory”).

 

11.2     Right
to Sell Inventory. Upon expiration or termination of this Agreement, except for reason of a breach of Licensee’s duty
to comply with the quality control requirements, Licensee shall be entitled, for an additional period of three (3) months and
on a nonexclusive basis, to continue to sell such Inventory. Such sales shall be made subject to all of the provisions of this
Agreement and to an accounting for and the payment of a Royalty thereon. Such accounting and payment shall be due and paid within
thirty (30) days after the close of the said three (3) month period.

 

11.3     Reversion
of Rights. Upon the expiration or termination of this Agreement, except as set forth in this Section 11, Licensee’s
rights under this Agreement to the Products and Recipes shall forthwith terminate and immediately revert to Licensor and Licensee
shall immediately discontinue all use of the Recipes, at no cost whatsoever to Licensor. Notwithstanding the foregoing, Licensor
shall not have any rights to the MamaMancini Marks or to the Licensee Improvements, of which Licensee shall remain the sole and
exclusive owner.

 

    	7

    	 

    

 

12.     Non-Competition.
During the Exclusive Term, Licensor shall not, whether as an individual, sole proprietor, employee, consultant, or advisor or
in any other capacity, engage in any business activity in competition with Licensee (except as expressly permitted herein). As
used herein, “activity in competition with Licensee” shall specifically mean manufacturing, or selling any hors d’oeuvres
in any channels of distribution (including, without limitation, wholesale, internet, retail, distributor, club store, mass market,
specialty catalogue, and food service including national chains, and caterers, restaurants and hotels), or assisting any other
person or entity to do so, except as provided in Section 4.12 above.

 

13.    Miscellaneous.

 

13.1.     Notices.
Notices hereunder shall be in writing, and served personally, sent by overnight delivery service or by messenger, or mailed postage
prepaid, return receipt requested in the U.S. mail, in each case against signature. Notices shall be effective and deemed delivered
when served personally, when delivered by overnight delivery service or by messenger, or three (3) business days after being mailed.
Notices shall be addressed to the parties at the following address, or such other address as may be provided by notice in accordance
herewith:

 

If to Licensor:

 

Daniel Daugherty

625 Mountain Drive

South Orange, NJ 07079

 

with a duplicate copy of all notices to:

 

If to Licensee:

 

Carl Wolf

Market Finders Brokerage,
Inc.

627 Inwood Lane

South Orange, NJ 07079

Telephone: 973 762
7986 office; 973 985 0280 cell

Fax: 973 556 1256

Email: cwolflakota@aol.com

 

with a duplicate copy
of all notices to:

 

Steven B. Greenapple

Steiker, Fischer, Edwards
& Greenapple, PC

6 South Street

Suite 201

Morristown, New Jersey
07960

Telephone: (973) 540-9292

Fax: (973) 540-9295

Email: sgreenapple@sfeglaw.com

 

    	8

    	 

    

 

13.2.     Relationship.
This Agreement does not create an agency, partnership, or joint venture relationship between Licensor and Licensee.

 

13.3.     Construction.
This Agreement shall be construed pursuant to the laws of the State of New Jersey applicable to agreements entered into and fully
performed therein. Each party hereto agrees that the State and federal courts located in the State of New Jersey shall have exclusive
jurisdiction over any dispute arising in connection with this Agreement or the transactions contemplated hereby. Each party hereby
(i) submits to the personal jurisdiction of such courts and agrees that service of process may be made upon it in the manner in
which notices are given under paragraph 14.1 hereof; and (ii) waives any claim of improper venue or forum non conveniens
with respect to such action. EACH PARTY HERETO WAIVES TRIAL BY JURY IN ANY SUIT ARISING IN CONNECTION WITH THIS AGREEMENT.

 

13.4.     Partial
Invalidity. The invalidity of any provision of this Agreement shall not impair or affect the validity of the remaining portions
hereof, and this Agreement shall be construed as if such invalid provision had not been included herein.

 

13.5.     Confidentiality;
Non-Hiring/Non-Solicitation. Licensor and Licensee are prohibited from making disclosure of the financial terms of this Agreement
to any third party without prior written consent, provided, however, that disclosure may be made: (i) to the extent necessary
to comply with governmental disclosure requirements; (ii) to any financial or legal representatives, owners, parents, and partners;
and (iii) as may be necessary and appropriate in connection with the performance and enforcement of this Agreement, with the prior
written consent of the other party hereto. Any party to whom disclosure is made hereunder will likewise be bound by the terms
of this paragraph. Licensor and Licensee each agree that they shall not, directly or indirectly, hire or solicit to hire, as employees,
consultants, independent contractors, or in any other capacity, the employees, consultants, independent contractors employed or
contracted by the other.

 

13.6.     Entire
Agreement; Modifications; Waiver. This Agreement, including any Appendix hereto, expresses the entire understanding of the
parties hereto and replaces any and all former agreements, understandings, representations or warranties relating to the subject
matter hereof. No modification, alteration or amendment of this Agreement shall be valid or binding unless in writing and signed
by the party to be charged with such modification, alteration or amendment. No waiver of any term or condition of this Agreement
shall be construed as a waiver of any other term or condition; nor shall any waiver of any default under this Agreement be construed
as a waiver of any other default. Any failure or delay by Licensor to enforce any of its rights under this Agreement shall not
be deemed a continuing waiver or modification hereof.

 

    	9

    	 

    

 

13.7.     
Prevailing Party’s Attorneys’ Fees. If either party hereto brings an action to enforce the terms hereof or
to declare rights hereunder, or for the enforcement of any judgment, the prevailing party in such action shall be entitled to
an award of reasonable costs of litigation including, without limitation, reasonable attorneys’ fees and costs, in such
amount as may be determined by the Court having jurisdiction in such action.

 

13.8.     Agreement
Binding On Successors. The provisions of the Agreement shall be binding upon and shall inure to the benefit of the parties
hereto, their heirs, administrators, successors and assigns.

 

13.9.     Assignability.
The license granted hereunder is personal to Licensee and shall not be assigned by any act of Licensee or by operation of law
unless in connection with a transfer of substantially all of the assets of Licensee or with the consent of Licensor.

 

Licensor and Licensee
have executed this Agreement as of the day and date first set forth above.

 

MARKET FINDERS BROKERAGE, INC.

 

	By:	/s/
    Marion F Wolf	 
	 	Marion F. Wolf, President	 
	 	 	 
	DANIEL DAUGHERTY	 
	/s/
    DANIEL DAUGHERTY	 

 

    	10

    	 

    

 

Appendix
to Development and License Agreement 

 

Description
of Product:

 

Recipe for Product:

 

Date of acceptance of
Product:

 

MARKET MARKET FINDERS
BROKERAGE, INC.

 

	By:	/s/
    Marion F. Wolf	 
	 	Marion F. Wolf, President	 
	 	 	 
	DANIEL DAUGHERTY	 
	/s
    /DANIEL DAUGHERTY	 

 

    	11

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