Document:

2013.12.31 10K ex10.7

EXHIBIT 10.7

LDR HOLDING CORPORATION
RESTRICTED STOCK UNITS AGREEMENT

LDR Holding Corporation has granted to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”) to which this Restricted Stock Units Agreement (the “Agreement”) is attached an Award consisting of Restricted Stock Units subject to the terms and conditions set forth in the Grant Notice and this Agreement.  The Award has been granted pursuant to and shall in all respects be subject to the terms conditions of the LDR Holding Corporation 2013 Equity Incentive Plan (the “Plan”), as amended, the provisions of which are incorporated herein by reference.  By signing the Grant Notice, the Participant: (a) acknowledges receipt of and represents that the Participant has read and is familiar with the Grant Notice, this Agreement, the Plan and a prospectus for the Plan prepared in connection with the registration with the Securities and Exchange Commission of the shares issuable pursuant to the Award (the “Plan Prospectus”), (b) accepts the Award subject to all of the terms and conditions of the Grant Notice, this Agreement and the Plan and (c) agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Grant Notice, this Agreement or the Plan.
1.Definitions and Construction.
1.1    Definitions.  Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Grant Notice or the Plan.
(a)“Dividend Equivalent Units” mean additional Restricted Stock Units credited pursuant to the Dividend Equivalent Right described in Section 3.3.
(b)“Units” means the Restricted Stock Units originally granted pursuant to the Award and the Dividend Equivalent Units credited pursuant to the Award, as both shall be adjusted from time to time pursuant to Section 9.
1.2    Construction.  Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement.  Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.  Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.
2.Administration.
All questions of interpretation concerning the Grant Notice, this Agreement, the Plan or any other form of agreement or other document employed by the Company in the administration of the Plan or the Award shall be determined by the Committee.  All such determinations by the Committee shall be final, binding and conclusive upon all persons having an interest in the Award, unless fraudulent or made in bad faith.  Any Officer shall have the authority to act on behalf of the Company with respect to any matter, right, obligation, or election which is the responsibility of or which is allocated to the Company herein, provided the Officer has apparent authority with respect to such matter, right, obligation, or election.
3.The Award.
3.1    Grant of Units.  On the Date of Grant, the Participant shall acquire, subject to the provisions of this Agreement, the Total Number of Units set forth in the Grant Notice, subject to adjustment as provided in Section 3.3 and Section 9.  Each Unit represents a right to receive on a date determined in accordance with the Grant Notice and this Agreement one (1) share of Stock.

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3.2    No Monetary Payment Required.  The Participant is not required to make any monetary payment (other than applicable withholding of Taxes, if any) as a condition to receiving the Units or shares of Stock issued upon settlement of the Units, the consideration for which shall be past services actually rendered or future services to be rendered to a Participating Company or for its benefit.  Notwithstanding the foregoing, if required by applicable law, the Participant shall furnish consideration in the form of cash or past services rendered to a Participating Company or for its benefit having a value not less than the par value of the shares of Stock issued upon settlement of the Units.
3.3    Dividend Equivalent Units.  This Agreement also constitutes the award of a Dividend Equivalent Right to the Participant.  On the date that the Company pays a cash dividend to holders of Stock generally, the Participant shall be credited with a number of additional whole Dividend Equivalent Units determined by dividing (a) the product of (i) the dollar amount of the cash dividend paid per share of Stock on such date and (ii) the sum of the Total Number of Units and the number of Dividend Equivalent Units previously credited to the Participant pursuant to the Award and which have not been settled or forfeited pursuant to Section 5.1 below as of such date, by (b) the Fair Market Value per share of Stock on such date.  Any resulting fractional Dividend Equivalent Unit shall be rounded to the nearest whole number.  Such additional Dividend Equivalent Units shall be subject to the same terms and conditions and shall be settled or forfeited in the same manner and at the same time as the Restricted Stock Units originally subject to the Award with respect to which they have been credited.  
4.Vesting of Units.
Units acquired pursuant to this Agreement shall become Vested Units as provided in the Grant Notice.  Dividend Equivalent Units shall become Vested Units at the same time as the Restricted Stock Units originally subject to the Award with respect to which they have been credited.  For purposes of determining the number of Vested Units following an Ownership Change Event, credited Service shall include all Service with any corporation which is a Participating Company at the time the Service is rendered, whether or not such corporation is a Participating Company both before and after the Ownership Change Event.
5.Cessation of Service.
5.1    Forfeiture.  Except to the extent otherwise provided by the Employment Agreement, if any, or the Grant Notice, in the event that the Participant’s Service terminates for any reason or no reason, with or without cause, prior to vesting in one or more Units, than the Award shall be immediately cancelled with respect to those unvested Units (“Unvested Units”), the Participant shall not be entitled to any payment therefor and the Total Number of Units shall be reduced accordingly.
5.2    Ownership Change Event, Non-Cash Dividends, Distributions and Adjustments.  Upon the occurrence of an Ownership Change Event, a dividend or distribution to the stockholders of the Company paid in shares of Stock or other property, or any other adjustment upon a change in the capital structure of the Company as described in Section 9, any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy, which shall be treated in accordance with Section 3.3) to which the Participant is entitled by reason of the Participant’s ownership of Unvested Units shall be immediately subject to the same vesting schedule and forfeiture provisions applicable to the Unvested Units.  For purposes of determining the number of Vested Units following an Ownership Change Event, dividend, distribution or adjustment, credited Service shall include all Service with any corporation which is a Participating Company at the time the Service is rendered, whether or not such corporation is a Participating Company both before and after any such event.
6.Settlement of the Award.
6.1    Issuance of Shares of Stock.  Subject to the provisions of Section 6.3 and Section 7  below, the Company shall issue to or on behalf of the Participant on each Settlement Date with respect to each Vested Unit to be settled on such date one (1) share of Stock.  Shares of Stock issued in settlement of 

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Units shall not be subject to any restriction on transfer other than any such restriction as may be required pursuant to Section 6.3, Section 7 or the Company’s Trading Compliance Policy.
6.2    Beneficial Ownership of Shares; Certificate Registration.  The Participant hereby authorizes the Company, in its sole discretion, to deposit any or all shares acquired by the Participant pursuant to the settlement of the Award with the Company’s designated broker.
6.3    Restrictions on Grant of the Award and Issuance of Shares.  The grant of the Award and issuance of shares of Stock upon settlement of the Award shall be subject to compliance with all applicable requirements of federal, state or foreign law with respect to such securities.  No shares of Stock may be issued hereunder if the issuance of such shares would constitute a violation of any applicable federal, state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed.  The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance of any shares subject to the Award shall relieve the Company of any liability in respect of the failure to issue such shares as to which such requisite authority shall not have been obtained.  As a condition to the settlement of the Award, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company.
6.4    Fractional Shares.  The Company shall not be required to issue fractional shares upon the settlement of the Award.
7.Tax Withholding.
7.1    In General.  The issuance of shares of Stock under the Award shall be subject to the Company’s collection of all applicable federal, state, local and foreign tax (including any social insurance) withholding obligations of a Participating Company (“Taxes”).
7.2    Share Withholding.  Until such time as the Company provides the Participant with notice to the contrary, the Company shall collect the applicable Taxes through an automatic share withholding procedure pursuant to which the Company will withhold, on the applicable Settlement Date for the shares of Stock that are issuable under the Award with respect to Vested Units, a portion of those shares of Stock with a Fair Market Value (measured as of the Settlement Date) equal to the amount of such Taxes (the “Share Withholding Method”); provided, however, that the amount of any shares of Stock so withheld shall not exceed the amount necessary to satisfy the Participating Company’s required obligations for Taxes using the minimum applicable statutory rates.  The Participant shall be notified in writing in the event such Share Withholding Method is no longer available.
7.3    Other Withholding.  Should any Units vest under the Award at a time when the Share Withholding Method is not available, then the Taxes shall be collected from the Participant through either of the following alternatives:
(i)    the Participant’s delivery of his or her separate check payable to the Company in the amount of such Taxes; or
(ii)    the use of the proceeds from a next-day sale of the shares of Stock issued to the Participant, provided and only if (A) such a sale is permissible under the Company’s Trading Compliance Policy governing the sale of Stock; (B) the Participant makes an irrevocable commitment, on or before the vesting date for those Units, to effect such sale of the Stock; and (C) the transaction is not otherwise deemed to constitute a prohibited loan under Section 402 of the Sarbanes-Oxley Act of 2002.
8.Effect of Change in Control.
In the event of a Change in Control, the Units to the extent outstanding and unvested, shall 

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vest immediately prior to the closing of the Change in Control as set forth in the Grant Notice.  The shares of Stock subject to those Vested Units shall be converted into the right to receive for each such share of Stock the same consideration per share of Stock payable to the other stockholders of the Company upon consummation of that Change in Control, and such consideration shall be distributed to the Participant within three (3) business days following the effective date of that Change in Control. Such distribution shall be subject to the Company’s collection of the applicable Taxes pursuant to the provisions of Section 7.
9.Adjustments for Changes in Capital Structure.
Subject to any required action by the stockholders of the Company and the requirements of Section 409A of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number of Units subject to the Award and/or the number and kind of shares or other property to be issued in settlement of the Award, in order to prevent dilution or enlargement of the Participant’s rights under the Award.  For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.”  Any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy, which shall be treated in accordance with Section 3.3) to which the Participant is entitled by reason of ownership of Units acquired pursuant to this Award will be immediately subject to the provisions of this Award on the same basis as all Units originally acquired hereunder.  Any fractional Unit or share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest whole number.  Such adjustments shall be determined by the Committee, and its determination shall be final, binding and conclusive.
10.Rights as a Stockholder, Director, Employee or Consultant.
The Participant shall have no rights as a stockholder with respect to any shares which may be issued in settlement of this Award until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of the Company’s designated broker).  No adjustment shall be made for dividends, distributions or other rights for which the record date is prior to the date the shares are issued, except as provided in Section 3.3 and Section 9.  If the Participant is an Employee, the Participant understands and acknowledges that, except as otherwise provided in a separate, written employment agreement between a Participating Company and the Participant, the Participant’s employment is “at will” and is for no specified term.  Nothing in this Agreement shall confer upon the Participant any right to continue in the Service of a Participating Company or interfere in any way with any right of the Participating Company Group to terminate the Participant’s Service at any time.
11.Compliance with Section 409A.
It is intended that any election, payment or benefit which is made or provided pursuant to or in connection with this Award that may result in Section 409A Deferred Compensation shall comply in all respects with the applicable requirements of Section 409A (including applicable regulations or other administrative guidance thereunder, as determined by the Committee in good faith) to avoid the unfavorable tax consequences provided therein for non‐compliance.  In connection with effecting such compliance with Section 409A, the following shall apply:
11.1    Separation from Service; Required Delay in Payment to Specified Employee.  Notwithstanding anything set forth herein to the contrary, no amount payable pursuant to this Agreement on 

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account of the Participant’s termination of Service which constitutes a “deferral of compensation” within the meaning of the Treasury Regulations issued pursuant to Section 409A of the Code (the “Section 409A Regulations”) shall be paid unless and until the Participant has incurred a “separation from service” within the meaning of the Section 409A Regulations.  Furthermore, to the extent that the Participant is a “specified employee” within the meaning of the Section 409A Regulations as of the date of the Participant’s separation from service, no amount that constitutes a deferral of compensation which is payable on account of the Participant’s separation from service shall be paid to the Participant before the date (the “Delayed Payment Date”) which is first day of the seventh month after the date of the Participant’s separation from service or, if earlier, the date of the Participant’s death following such separation from service.  All such amounts that would, but for this Section, become payable prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date.
11.2    Other Changes in Time of Payment.  Neither the Participant nor the Company shall take any action to accelerate or delay the payment of any benefits which constitute a “deferral of compensation” within the meaning of Section 409A Regulations in any manner which would not be in compliance with the Section 409A Regulations.
11.3    Amendments to Comply with Section 409A; Indemnification.  Notwithstanding any other provision of this Agreement to the contrary, the Company is authorized to amend this Agreement, to void or amend any election made by the Participant under this Agreement and/or to delay the payment of any monies and/or provision of any benefits in such manner as may be determined by the Company, in its discretion, to be necessary or appropriate to comply with the Section 409A Regulations without prior notice to or consent of the Participant.  The Participant hereby releases and holds harmless the Company, its directors, officers and stockholders from any and all claims that may arise from or relate to any tax liability, penalties, interest, costs, fees or other liability incurred by the Participant in connection with the Award, including as a result of the application of Section 409A.
11.4    Advice of Independent Tax Advisor.  The Company has not obtained a tax ruling or other confirmation from the Internal Revenue Service with regard to the application of Section 409A to the Award, and the Company does not represent or warrant that this Agreement will avoid adverse tax consequences to the Participant, including as a result of the application of Section 409A to the Award.  The Participant hereby acknowledges that he or she has been advised to seek the advice of his or her own independent tax advisor prior to entering into this Agreement and is not relying upon any representations of the Company or any of its agents as to the effect of or the advisability of entering into this Agreement.
12.Miscellaneous Provisions.
12.1    Termination or Amendment.  The Committee may terminate or amend the Plan or this Agreement at any time; provided, however, that no such termination or amendment may adversely affect the Participant’s rights under this Agreement without the consent of the Participant unless such termination or amendment is necessary to comply with applicable law or government regulation, including, but not limited to, Section 409A.  No amendment or addition to this Agreement shall be effective unless in writing.
12.2    Nontransferability of the Award.  Prior to the issuance of shares of Stock on the applicable Settlement Date, neither this Award nor any Units subject to this Award shall be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution.  Any shares of Stock which vest in accordance with the Grant Notice and this Agreement but which otherwise remain unissued at the time of the Participant’s death may be transferred pursuant to the provisions of the Participant’s will or the laws of inheritance.  All rights with respect to the Award shall be exercisable during the Participant’s lifetime only by the Participant or the Participant’s guardian or legal representative.

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12.3    Further Instruments.  The parties hereto agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Agreement.
12.4    Binding Effect.  This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer set forth herein, be binding upon the Participant and the Participant’s heirs, executors, administrators, successors and assigns.
12.5    Delivery of Documents and Notices.  Any document relating to participation in the Plan or any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery, or upon deposit in the U.S. Post Office or foreign postal service, by registered or certified mail, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the other party at the address of such party set forth in the Grant Notice or at such other address as such party may designate in writing from time to time to the other party.
(a)Description of Electronic Delivery.  The Plan documents, which may include but do not necessarily include: the Plan, the Grant Notice, this Agreement, the Plan Prospectus, and any reports of the Company provided generally to the Company’s stockholders and any notices to the Participant by the Company, may be delivered to the Participant electronically.  Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other means of electronic delivery specified by the Company.
(b)Consent to Electronic Delivery.  The Participant acknowledges that the Participant has read Section 12.5(a) of this Agreement and consents to the electronic delivery of the Plan documents and notices.
12.6    Integrated Agreement.  The Grant Notice, this Agreement and the Plan, together with the Employment Agreement, if any, shall constitute the entire understanding and agreement of the Participant and the Participating Company Group with respect to the subject matter contained herein or therein and supersede any prior agreements, understandings, restrictions, representations, or warranties among the Participant and the Participating Company Group with respect to such subject matter.  To the extent contemplated herein or therein, the provisions of the Grant Notice, this Agreement and the Plan shall survive any settlement of the Award and shall remain in full force and effect.
12.7    Applicable Law.  This Agreement shall be governed by the laws of the State of Texas as such laws are applied to agreements between Texas residents entered into and to be performed entirely within the State of Texas.
12.8    Counterparts.  The Grant Notice may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

6Exhibit 10.7

CONTRACT CHIEF FINANCIAL OFFICER AGREEMENT

 

THIS CONTRACT CHIEF FINANCIAL OFFICER AGREEMENT
(the “AGREEMENT’) is dated as of the ____ day of March, 2014. It is made and entered into by and between Smack Sportswear,
a Nevada corporation, located at 20316 Gramercy Place, Torrance, CA 90501 (hereinafter referred to as the “Company’),
and Doug Samuelson (hereinafter referred to as “Contract CFO”).

 

RECITALS

 

WHEREAS, Contract CFO has specialized
financial skills, experience and knowledge to help the Company with its fully reporting requirements;

 

WHEREAS, the Company is desirous of
retaining Contract CFO’s services as an Independent Contractor and Contract CFO is desirous of formalizing a new relationship
with the Company;

 

WHEREAS, the Company is willing to enter
into an agreement with the Contract CFO to provide services for the Company, but only upon the terms and condition provided for
hereinafter; and

 

NOW, THEREFORE, IN CONSIDERATION of
the mutual promises made herein and certain additional valuable consideration, as provided for hereafter, it is AGREED, that

 

1. SERVICES.

 

Engagement of the
Contract CFO and in connection therewith agrees to perform the following services (the “Services”): Consult with the
Company's Board of Directors, the officers of the Company, and the heads of the Company’s administrative staff, at reasonable
times. The Contract CFO shall be responsible for overseeing all aspects of a company's financial results, especially in
preparing the Quarterly interim financial statements and the required preparation work for the year-end audit. In net, the Contract
CFO acts as an external part-time CFO/Controller providing the Company with the tools, systems and support necessary to complete
the financial reporting responsibilities of the business.

 

The Company agrees to retain Contract CFO to
provide such services under the terms and conditions set forth herein. Contract CFO agrees to render all services under this Agreement
in a professional and business-like manner and in full accordance with the terms and conditions of this Agreement. During the term
of this Agreement, Contract CFO shall devote his energy, skill and best efforts to promote The Companys business and affairs and
to perform his duties hereunder.

     

     

    

 

 

2. COMPENSATION AND TERM. 

 

The Company shall pay the Contract CFO for
his loyal and consistent services as follows:

 

2.1 REMUNERATION AND TERM. For a period one
year, starting April 1, 2014 through March 31, 2015, the Contract CFO will be paid $2,000 per month. The $2,000 salary payment
is due at the end of each month following the rendering of services to the Company.

 

For work performed before April
1, 2014, and any month in which Contract CFO works more than 40 hours the Contract
CFO-will receive $50 per extra hour worked in that month. Contract CFO will inform Company
when 60 hours per month are reached so Company can determine future action.

 

2.2 The Contract CFO is expect to work a minimum
of 25-hours per month, and attend one weekly Executive meeting at the Company's corporate headquarters' in Torrance, CA through
June 2014 and thereafter twice per month.

 

2.3 STOCK COMPENSATION. As a signing bonus,
the Contract CFO is entitled to receive 500,000 restricted shares of Smack Sportswear which will be newly issued from the corporate
Treasury and become vested each Quarter (125,000 restricted shares per Quarter) upon completion of the Company's Quarterly filing.

a) Contract CFO will receive an extra 50,000
restricted shares for every quarterly filing that is filed with the SEC on time, these newly issued Treasury shares and those shares
vest upon completion of the filing.

b) If previous 12-month sales for Smack Sportswear,
at end of the Contract CFO's one year term is $3,000,000+, the Contract CFO will receive an additional bonus of 100,000 restricted
shares from newly issued Treasury shares noted above.

3. INDEPENDENT CONTRACTOR STATUS.

 

The Contract CFO is an independent contractor.
The Contract CFO shall not be deemed for any purpose to be an employee or agent of Company, and neither party shall have the power
or authority to bind the other party to any contract or obligation. The Contract CFO is not entitled to unemployment insurance
or workers compensation insurance and the Contract CFO shall be solely responsible for timely remittance to appropriate authorities
of all federal, state, and local taxes and charges incident to the provision of and payment of compensation for Services, and to
the operation of the Contract CFO’s business, including but not limited to payment of worker’s compensation insurance
premiums, social security taxes (FICA, FUTA, OASDI, Medicare hospitalization), and federal and state income taxes (including quarterly
estimated taxes). The Contract CFO CONSULTANT SHALL NOT HOLD HIMSELF OUT OR OTHERWISE REPRESENT
HIMSELF TO ANY PERSON OR ENTITY AS ANYTHING OTHER THAN AN INDEPENDENT Contract CFO OF THE COMPANY, REGARDLESS OF ANY TITLE OR DESIGNATION
THAT The Contract CFO MAY HOLD WITH THE COMPANY.

 

4.
Best Efforts of Contract CFO. 

 

The Contract CFO is expected to devote a minimum
of 25 hours per month to the business of the Company and to all of the duties that may be required by the terms of this Agreement
to the reasonable satisfaction of the Company. The Contract CFO shall at all times faithfully, with diligence and to the best of
his ability, experience and talents, perform all the duties that may be required of and from him pursuant to the express and implicit
terms hereof to the reasonable satisfaction of the Company. Such services shall be rendered at such othis place or places as the
Company shall in good faith require or as the interest, needs, business or opportunity of the Company shall require.

 

5.
Expenses. 

 

Only upon prior approval of management, the
Contract CFO is authorized to incur reasonable expenses. The Company shall reimburse the Contract CFO for all such expenses on
the presentation by the Contract CFO, from time to time, of an itemized account of such expenditures in accordance with the guidelines
set forth by the Internal Revenue Service for travel and entertainment. The Company has a current policy in place that any payables
over $1,500 need 2 signatures. The Company will pay for Contract CFO's mileage to the Torrance facility.

 

6.
Disability. 

 

(a) Should the Contract
CFO, by reason of illness or incapacity, be unable to perform his job for a period of up to and including a maximum of 1-month,
the compensation payable to him for and during such period under this Agreement shall be unabated. The Board of Directors shall
have the right to determine the incapacity of the Contract CFO for the purposes of this provision, and any such determination shall
be evidenced by its written opinion delivered to the Contract CFO. Such written opinion shall specify with particularity the reasons
supporting such opinion and be manually signed by at least a majority of the Board.

 

(b) The Contract CFO's
compensation thereafter shall be reduced to zero. The Contract CFO shall receive full compensation upon his return to services
and regular discharge of his full duties hereunder. Should the Contract CFO be absent from his serevices for whatever cause for
a continuous period of more than 30-calendar days, the Company may terminate this Agreement and all obligations of the Company
hereunder shall cease upon such termination.

 

7. TERMINATION.

 

7.1. The Contract CFO can terminate this agreement
by giving the Company thirty (30) days notice to the Company. The Company can terminate this agreement by giving the Contract CFO
thirty (30) days notice.

 

7.2. The Company can terminate this agreement
immediately, without penalties, by demonstrating willful misconduct, malfeasance, gross negligence or other like conduct adversely
affecting the best interests of the Company, including, without limitation, (i) the failure or neglect by the Contract CFO to perform
his duties hereunder; (ii) the commission of any felony against the Company, including, without limitation, any fraud against the
Company, any of its affiliates, clients or customers of the Company.

 

8. CONFIDENTIALITY.

 

The Contract CFO shall not divulge to others
any information he may obtain during the course of his term relating to his services for the Company without first obtaining written
permission of the Company.

 

9. RETURN OF DOCUMENTS.

 

On termination of the Contract CFO’s
services with the Company, or at any time upon the request of the Company or its affiliates, the Contract CFO shall return to the
Company all documents, including all copies thereof, and all other property relating to the business or affairs of the Company,
including, without limitation, customer lists, agents or representatives lists, commission schedules and information manuals, letters,
materials, reports, lists and records (all such documents and other property being hereinafter referred to collectively as the
“Materials”), in his possession or control, no matter from whom or in what manner he may have acquired such property.
The Contract CFO acknowledges and agrees that all of the Materials are property of the Company and releases all claims of right
of ownership thereto.

 

10. BLUE-PENCIL. 

 

If any court of competent jurisdiction shall
at any time deem the term of any of the covenants and undertakings of the Contract CFO under Sections 7, 8 and 9 herein too lengthy,
the other provisions of those Sections 7, 8 and 9 shall nevertheless stand, the period of restriction shall be deemed to be the
longest period permissible by law under the circumstances. The court in each case shall reduce the period of restriction to permissible
duration.

 

11. MUTUAL INDEMNITIES. 

 

THE COMPANY AND CONTRACT CFO JOINTLY AGREE
TO AND SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS THE OTHER FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES, DAMAGES, CAUSES OF ACTION,
SUITS, AND LIABILITY OF EVERY KIND, INCLUDING ALL EXPENSES OF LITIGATION, COURT COSTS, AND ATTORNEYS’ FEES, FOR INJURY TO
OR DEATH OF ANY PERSON, OR FOR DAMAGE TO ANY PROPERTY, ARISING OUT OF EITHER NEGLIGENCE OR MISCONDUCT IN CONNECTION WITH THE WORK
DONE BY CONTRACT CFO UNDER THIS AGREEMENT; PROVIDED THAT THIS INDEMNIFICATION SHALL NOT APPLY IN THE EVENT OF ANY GROSS NEGLIGENCE
OR WILLFUL MISCONDUCT BY THE CONTRACT CFO.

     

     

    

 

 

12. ASSIGNMENT OF CONTRACT. 

 

The Contract CFO may not assign his rights
under this Agreement without the written consent of the Company.

 

13. GOVERNING LAW. 

 

This Agreement, and the rights and obligations
of the parties hereto, shall be governed by and construed in accordance with the laws of the State of California without regard
to principles of conflict of laws. Each of the parties waives any right to object to the jurisdiction or venue of such courts or
to claim that such courts are an inconvenient forum.

 

14. ENTIRE AGREEMENT AMENDMENT. 

 

This Agreement constitutes the entire Agreement,
representation and understanding of the parties hereto with respect to the subject matter hereof, and no amendment or modification
shall be valid or binding unless made in writing and signed by the parties to this Agreement. This Agreement supersedes any and
all other agreements, either oral or written, between the Company and Contract CFO with respect to the subject matter hereof, and
contains all of the covenants and agreements between the parties relating in any way to Contract CFO’s services for the Company.

 

15. NOTICES. 

 

All notices or other communications required
or permitted hereunder shall be in writing. All notices or other required or permitted communications shall be delivered or sent,
as the case may be, by any of the following methods: (i) personal delivery; (ii) overnight commercial carrier;- or (iii) registered
or certified mail, postage prepaid, return receipt requested. Receipt and effective delivery shall occur upon the earlier of the
following: (a) If personally delivered, the date of delivery to the address of the person to receive such notice; (b) If delivered
by overnight commercial earner, one day following the receipt of such communication by such carrier from the sender as shown on
the sender’s delivery invoice from such carrier; or (c) If mailed, two (2) business days after the date of posting by the
United States post office. No notice or other required or permitted communication shall be effective unless and until received.

 

16. MODIFICATION AND WAIVER. 

 

No change or modification of this Agreement
shall be valid or binding upon the parties hereto unless such change or modification shall be in writing and signed by the Company
and Contract CFO. No course of dealing between the Company and Contract CFO, nor any waiver by the Company of a breach of any provision
of this Agreement, or delay in exercising any right under this Agreement, shall operate or be construed as a waiver of any subsequent
breach by Contract CFO.

     

     

    

 

 

17. REMEDIES FOR BREACH.

 

Contract CFO recognizes and acknowledges that
the remedy at law for a breach by Contract CFO of any of the covenants contained in this Agreement shall be inadequate. Contract
CFO agrees that the Company, in addition to all other legal and equitable remedies it may have, shall have the right to injunctive
relief to enforce the provisions of this Agreement if there is such a breach or threatened breach. The Company hereby expressly
reserves the right to offset any costs it incurs as a result of any breach of this Agreement by Contract CFO against any amounts
payable to Contract CFO hereunder and the right to -terminate this Agreement upon written notice for a breach of this Agreement
by Contract CFO. Both parties shall have all other rights and remedies available at law or in equity for a breach or threatened
breach of this Agreement. Contract CFO agrees that all sums payable to it under this Agreement shall be available to the Company
to satisfy Contract CFO’s breach of this Agreement and to satisfy Contract CFO’s indemnity agreement set forth herein.
If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall
be entitled to recover its reasonable costs and attorneys’ fees from the other party.

 

18. REMOVAL OF ILLEGAL, INVALID-OR UNENFORCEABLE
PROVISIONS. 

 

If any provision of this Agreement is held
to be illegal, invalid or unenforceable, such provision may be removed. Thereafter, the Agreement shall be considered to be legal,
valid or enforceable provision as though the removed provision had never comprised a part of the Agreement. The remaining provisions
of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision
or by their removal from this Agreement.

 

19. NO PARTNERSHIP OR JOINT VENTURE. 

 

Nothing in this Agreement is either intended
and should not in any way be construed to create any form of joint venture, partnership or agency relationship of any kind between
the Company and Contract CFO. The parties expressly disclaim any intention of any kind to create any such relationship between
themselves.

 

     

     

    

 

 

IN WITNESS WHEREOF, the parties have
executed this Agreement or caused this Agreement to be executed on the date first set forth above.

 

Smack Sportswear

(“The Company”)

 

/s/ Bill Sigler

By: Bill Sigler

Title: CEO

 

Date:__3/1/2014__________

 

 

Doug Samuelson

("Contract CFO")

 

/s/ Doug Samuelson

 

Date:__3/1/2014__________

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