Document:

SHARE PURCHASE AGREEMENT

This  Share Purchase Agreement (the "Agreement") is effective as of March 22, 2018 (the "Effective Date"),

BETWEEN:

Sotirios Leontaritis residing at 98 Aiantos St., 17563, Paleo Faliro, Athens, Greece, holder of Greek Identity Card No. AI 781694, issued on 08/08/2012 by P.D. Par.Astros (hereinafter referred as the "Vendor"),

AND:

Maschari LTD, with its registered offices at 30 Kosta Antoniadi st., Office 201, 2nd floor, Strovolos, 2040, Nicosia, Cyprus, Reg. No HE380385 (hereinafter referred as the "Purchaser"),

WHEREAS the Vendor represents that he is the legal and beneficial owner of certain restricted common shares of HCi Viocare (the "Corporation"), a publicly traded corporation with its shares listed for trading on the OTCQB market in the United States of America;

WHEREAS the Vendor wishes to sell and transfer to the Purchaser certain restricted common shares of the Corporation and the Purchaser agrees to purchase and accept the transfer of the shares;

WHEREAS the parties hereto agree that the purchase price per share has been mutually agreed as fair market value;

NOW THEREFORE, IT IS AGREED AS FOLLOWS:

1. SHARES SOLD AND PURCHASE PRICE

	1.1	
Subject to the terms and conditions set forth in this Agreement, the Vendor hereby sells one hundred forty two million seven hundred and ten thousand five hundred and sixty two (142,710,562) of his restricted common shares ("the Common Shares") to the Purchaser at a purchase price of Six Cents  ($0.06) per share, in the currency of the United States of America.

	1.2	
The aggregate purchase price for the Common Shares is Eight Million Five Hundred Sixty Two Thousand Six Hundred Thirty Three Dollars and Seventy Two Cents (USD $8,562,633.72) (the "Purchase Price"), payable as set forth as Article 2 hereof.

  

2. DELIVERY OF SHARES AND PAYMENT OF THE PURCHASE PRICE

	2.1	
The Purchaser acknowledges that the Vendor has thirty (30) days to deliver the relevant share certificates representing the Common Shares of the Vendor.

2.2      The Vendor will receive in exchange a Promissory Note (the "Note"), dated March 22, 2018, Eight Million Five Hundred Sixty Two Thousand Six Hundred Thirty Three Dollars and Seventy Two Cents (USD $8,562,633.72) signed by the Purchaser, which note shall come due on March 22, 2021.

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3.          COLLATERAL

3.1     The Common Shares represented herein shall remain in the possession of the Purchaser and completely unencumbered until such time as the Note is paid in full, or the parties hereto agree by written addendum hereto, to the release of shares on a pro-rata basis in such amounts as may equal installment payments received.

3.2        In the event of any reverse split, forward split, cancelation or class conversion, as may occur in the normal course, which impacts the Common Shares, it is agreed by the parties hereto that such replacement shares, regardless of class and number, will continue to remain in escrow and may not be sold until paid in full and/or the parties have agreed to their release on a pro-rata basis for consideration received.

4.          BREACH

4.1       In the event that the Purchaser defaults on the obligation to pay the Purchase Price, according to the terms and conditions set hereof and the Promissory Note:

             4.1.1 the Vendor has the right to cancel this Agreement;

             4.1.2 the Purchaser loses the shares pledged and shall deliver ownership and possession to the Vendor at the Purchaser's expense.

5. VENDOR'S REPRESENTATIONS AND WARRANTIES

5.1 The Vendor represents and warrants to the Purchaser that:

	
5.1.1

	
The Corporation is incorporated under the laws of Nevada and is duly organized and validly existing thereunder;

	
5.1.2

	
the Common Shares have been duly issued, are outstanding as fully paid and non-assessable;

	
5.1.3

	
the sale and delivery of the Shares as provided for in this Agreement shall not conflict with or result in or cause the occurrence of an event or condition which, immediately or after notice or lapse of time or both, constitutes a breach of or default under the Corporation's articles or by-laws or under any agreement, instrument, order, judgment or decree to which the Vendor or the Corporation is subject; and

	
5.1.4

	
this Agreement constitutes a valid and binding obligation of the Vendor enforceable against the Vendor in accordance with its terms, provided that enforcement may be limited by bankruptcy, insolvency, liquidation, reorganization, reconstruction and other similar laws generally affecting enforceability of creditors' rights.

6. PURCHASER'S REPRESENTATIONS AND WARRANTIES

6.1 The Purchaser represents and warrants to the Vendor that:

		6.1.1	
the Purchaser is a corporation incorporated under the laws of Cyprus and is duly organized and validly existing thereunder;

		6.1.2	
all necessary corporate action and proceedings have been taken to permit the execution of this Agreement;

		6.1.3	
the aforementioned actions do not conflict with or result in or cause the occurrence of an event or condition which, immediately or after notice or lapse of time or both constitutes a breach of or default under the articles or by-laws of the Purchaser or under any agreement, instrument, order, judgment or decree to which the Purchaser is subject;

		6.1.4	
the Common Shares have been validly allotted and issued and are registered in the name of the Vendor;

		6.1.5	
this Agreement constitutes a valid and binding obligation of the Purchaser enforceable against it in accordance with its terms, provided that enforcement may be limited by bankruptcy, insolvency, liquidation, reorganization, reconstruction and other similar laws generally affecting enforceability of creditors' rights; and

6.1.6    upon execution of this Agreement the Purchaser acknowledges it will become an affiliate of the Corporation, and will be subject to all the applicable rules for control persons.

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7. MISCELLANEOUS

	7.1	
This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, legatees, executors, legal representatives, successors and assigns.

	7.2	
This Agreement contains the entire agreement between the parties with respect to the transactions contemplate herein and supersedes all prior written or oral negotiations, agreements and understandings, if any.

	7.3	
The representations and warranties set forth in Articles 5 and 6 hereof shall survive the purchase and sale of the Common Shares hereunder.

	7.4	
Each of the parties hereto covenants and agrees that it will from time to time hereafter execute and deliver such additional documents and instruments and do such acts and things as may be reasonably necessary fully and effectually to sell, assign and transfer the Common Shares to the Purchaser pursuant to this Agreement and to otherwise carry out the intent and purpose of this Agreement.

7.5       This Agreement may not be amended or modified except by an instrument in writing signed on behalf of each of the Parties hereto.

7.6       The headings in this Agreement are for reference purposes only, and shall not in any way affect the meaning or interpretation of this Agreement.

7.7        No Party to this Agreement may assign any of its rights and obligations under this Agreement without the prior written consent of the other party hereto; provided, however, either party may assign its rights and obligations; provided, further, that, no such assignment shall relieve the assigning party of any of its obligations hereunder.

	7.8	
This Agreement shall be governed by and construed in accordance with the laws of Cyprus. The courts of Cyprus shall have exclusive jurisdiction with respect to any matter arising hereunder or related hereto.

7.9     In the event that any of the clauses of this agreement are found to be invalid, unlawful or unenforceable, such clause(s) will be severable from the remaining clauses of this agreement, which will continue to be valid and enforceable. If any invalid clause is capable of amendment to render it valid and enforceable to achieve the same objective as the invalid clause, the parties agree to negotiate an amendment to remove the invalidity.

	7.10	
All notices, requests, demands and other communications in connection herewith shall be in writing with specific reference to this Agreement and shall be deemed to have been duly delivered when

		(a)	
personally delivered to a responsible officer of such party; or

		(b)	
except during a period of strike, lockout or other postal disruption, sent by registered mail, postage prepaid; or

	
(c)

	
      sent by telex, telegraph, fax or other form of recorded communication, charges prepaid, confirmed by prepaid registered mail;

as follows:

		7.10.1	
If to the Vendor:

Sotirios Leontaritis

98 Aiantos St.,

17563, Paleo Faliro, Athens, Greece

Tel: 00306981144430

Email: leosot@yahoo.com

		7.10.2	
If to the Purchaser:

Maschari LTD

Contact – Constantinos Zertalis

30 Kosta Antoniadi st., Office 201, 2nd floor,

Strovolos, 2040, Nicosia, Cyprus

Tel: 0035796555541

Email: caz@zertalis.com

or such other address as either party may from time to time specify by notice to be given to the other party for such purpose in writing at least 10 days in advance.

7.11      This Agreement was drafted in two (2) originals, and, once signed as follows, each party received one (1) original.

 

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IN WITNESS WHEREOF, each party to this agreement has caused it to be executed at Athens, Greece on the date indicated above.

 

	
FIRST PARTY

	
 

	
SECOND PARTY

	 	 	Maschari LTD
	
 

	
 

	
 

	
/s/Sotirios Leontaritis 

	
 

	
/s/Constantinos Zertalis

	
Sotirios Leontaritis

	
 

	
Director 

	 	 	 

ACKNOWLEDGED AND ACCEPTED

 

/s/Nikolaos Kardaras

HCI VIOCARE

By: Nikolaos Kardaras

Title:Director 

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ADDENDUM TO SHARE PURCSHASE AGREEMENT

This ADDENDUM TO SHARE PURCHASE AGREEMENT (the "Addendum") dated as of March 30, 2018 (the "Effective Date"), amends the Share Purchase Agreement dated March 22, 2018 and is made by and between:

Sotirios Leontaritis residing at 98 Aiantos St., 17563, Paleo Faliro, Athens, Greece, holder of Greek Identity Card No. AI 781694, issued on 08/08/2012 by P.D. Par.Astros (hereinafter referred as the "Vendor"), shareholder of HCi Viocare (the "Corporation"), a publicly traded corporation with its shares listed for trading on the OCTCQB market in the United States of America; and

Maschari LTD, with its registered offices at 30 Kosta Antoniadi st., Office 201, 2nd floor, Strovolos, 2040, Nicosia, Cyprus, Reg. No HE380385 (hereinafter referred as the "Purchaser"),

all of whom may be collectively referred to herein as the "Parties" or individually as a "Party".

WHEREAS, on March 22, 2018, the Parties executed and delivered a Share Purchase Agreement (the "Agreement") whereby the Vendor is to sell and transfer one hundred forty two million seven hundred and ten thousand five hundred and sixty two (142,710,562) of his restricted common shares ("the Common Shares") to the Purchaser at a purchase price of  six cents (USD $0.06) per share and at the total purchase price of Eight Million Five Hundred Sixty Two Thousand Six Hundred Thirty Three Dollars and Seventy Two Cents (USD $8,562,633.72) (the "Purchase Price");

WHEREAS, the Parties desire to modify certain of the terms and covenants set forth in the Agreement and have agreed to make the following amendments to the Agreement so that the amount of shares of the common stock sold and transferred to the Purchaser is amended and the Purchase Price is amended accordingly.

Notwithstanding anything contained in the Agreement to the contrary, the provisions set forth below will be deemed to be a part of the Agreement and shall supersede any contrary provision in the Agreement. All references in the Agreement and in this Addendum shall be construed to mean the Agreement as amended and supplemented by this Addendum. Any inconsistency between the Agreement and this Addendum shall be resolved in favor of the provisions of this Addendum.

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements set forth herein, for other good and valuable consideration, the receipt of which is hereby acknowledged, and intending to be legally bound, the Parties agree as follows:

	
1.

	
Defined Terms: All defined and capitalized terms used in this Addendum, unless specifically defined in this Addendum, shall have the same meaning as such terms have in the Agreement.

	
2.

	
Modification of the Agreement:

	
2.1.

	
Section 1.1. of the Agreement is hereby amended to read in its entirety: Subject to the terms and conditions set forth in this Agreement, the Vendor hereby sells one hundred twenty two million seven hundred and ten thousand five hundred and sixty two (122,710,562) of his restricted common shares ("the Common Shares") to the Purchaser at a purchase price of Six Cents ($0.06) per share, in the currency of the United States of America.

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2.2.

	
 Section 1.2. of the Agreement is hereby amended to provide that the Common Shares shall be purchased at the New Purchase Price and is to read in its entirety:  The aggregate purchase price for the Common Shares is Seven Million Three Hundred Sixty Two Thousand Six Hundred Thirty Three Dollars and Seventy Two Cents (USD $7,362,633.72) (the "Purchase Price"), payable as set forth as Article 2 hereof.

	
2.3.

	
 Section 2.2 of the Agreement is hereby amended to read in its entirety: The Vendor will receive in exchange a Promissory Note (the "Note"), dated March 30, 2018, for Seven Million Three Hundred Sixty Two Thousand Six Hundred Thirty Three Dollars and Seventy Two Cents (USD $7,362,633.72) signed by the Purchaser, which note shall come due on March 29, 2021.

	
3.

	
Effect to Amendment: Except as expressly modified in this Addendum, all terms, conditions and covenants set forth in the Agreement shall remain in full force and effect among the parties.

	
4.

	
Amendment: This Addendum may be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each party hereto.

	
5.

	
Governing Law: This Addendum shall be governed by and construed in accordance with the laws of Cyprus. The courts of Cyprus shall have exclusive jurisdiction with respect to any matter arising hereunder or related hereto.

	
6.

	
Counterparts:  This Addendum may be executed in any number of counterparts, each of which shall be an original, but all of which together, shall constitute one instrument. A facsimile or other electronic transmission of this signed Addendum shall be legal and binding on all parties hereto.

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

 

	
FIRST PARTY

	
 

	
SECOND PARTY

	 	 	Maschari LTD
	
 

	
 

	
 

	
/s/Sotirios Leontaritis 

	
 

	 

/s/Constantinos Zertalis

	
Sotirios Leontaritis

	
 

	
Director 

	 	 	 

 

ACKNOWLEDGED AND ACCEPTED

 

/s/Nikolaos Kardaras

HCI VIOCARE

By: Nikolaos Kardaras

Title:Director 

6Promissory Note

USD$ $7,362,633.72      March 30, 2018

THIS PROMISSORY NOTE (this "Note") is issued by Maschari LTD, with its registered offices at 30 Kosta Antoniadi st., Office 201, 2nd floor, Strovolos, 2040, Nicosia, Cyprus, Reg. No HE380385 (the "Payor") to Sotirios Leontaritis, holder of the Greek Identity Card No. AI 781694, issued on 08/08/2012 by P.D. Par.Astros (the "Holder").

This Note is being issued in connection with the transactions contemplated by the Sale of Shares Agreement dated the date hereof (the "Purchase Agreement") between the Payor and the Holder, pursuant to which, among others, the Holder is selling one hundred twenty two million seven hundred and ten thousand five hundred and sixty two (122,710,562) shares (the "Shares") of common stock of HCi Viocare, a Nevada corporation, to the Payor.

Section 1.01 Principal.  For value received, the Payor hereby promises to pay on or before the Maturity Date (as defined below) to the order of the Holder or its designees, in lawful money of the United States of America and in immediately available funds, the principal sum of Seven Million Three Hundred Sixty Two Thousand Six Hundred Thirty Three Dollars and Seventy Two Cents (USD $7,362,633.72), or, if less, the aggregate unpaid principal amount outstanding (the "Principal Amount").

 Section 1.02 Interest. No interest shall accrue on this Note.

Section 1.03 Maturity Date.  The Principal Amount shall be due and payable in full on March 29, 2021 (the "Maturity Date").

Section 1.04 Right to Prepay.  Provided that there is no Event of Default (as defined below), the Payor shall have the right, upon no less than five (5) business days' prior notice to the Holder, to prepay all or any portion of the Principal Amount, on or before the Maturity Date, without penalty or premium.

Section 1.05 Additional Payments.  The Payor agrees that until the earlier of (i) the Maturity Date or (ii) when all obligations of Payor to the Holder pursuant to this Note have been satisfied in full, the Payor shall pay the Holder 100% of all sales generated from the sales or other disposition of the Shares.

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ARTICLE II

Section 2.01 Representations and Warranties of the Holder.  The Holder hereby acknowledges, represents and warrants to, and agrees with, the Payor that the Holder has full power and authority to enter into this Note, the execution and delivery of this Note has been duly authorized, and this Note constitutes a valid and legally binding obligation of the Holder.

ARTICLE III

Section 3.01 Representations and Warranties of the Payor.  The Payor hereby acknowledges, represents and warrants to, and agrees with, the Holder as follows:

(a) Neither the issuance and sale of the Note nor the performance of the Payor's obligations under this Note will (i) violate, conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse of time or both would be reasonably likely to constitute a default) under (A) any decree, judgment, order, law, treaty, rule, regulation or determination applicable to the Payor of any court, governmental agency or body, or arbitrator having jurisdiction over the Payor or over the properties or assets of the Payor, (B) the terms of any note or any other evidence of indebtedness, or any agreement, lease, mortgage, deed of trust or other instrument to which the Payor is a party, by which the Payor is bound, or to which any of the properties of the Payor is subject, or (C) the terms of any agreement to which the Payor is a party; or (ii) result in the creation or imposition of any claim, mortgage, security, easement or encumbrance, or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever upon the securities or any of the assets of the Payor.

(b) There is no pending or threatened action, suit, proceeding or investigation before any court, governmental agency or body, or arbitrator having jurisdiction over the Payor, or any of its affiliates.

Section 3.02 Covenants of the Payor.  The Payor hereby covenants and agrees with the Holder that, so long as any amount remains unpaid on this Note, the Payor shall:

 

	
                (a)

	
Notify the Holder if there is a breach or threatened breach of any of the representations and warranties provided for in this Note and forward to the Holder any correspondence regarding any threatened or actual action, suit, proceeding or investigation before any court, governmental agency or body, or arbitrator having jurisdiction over the Payor;

	
                (b)

	
Inform any brokerage house where all or any portion of the Shares are deposited of the provisions of Section 1.05 of this Note; and,

	
                (c)

	
Promptly after the Payor shall obtain knowledge of the occurrence of any Event of Default (as defined below) or any event which with the notice or lapse of time or both would become an Event of Default, deliver to the Holder a notice specifying that such notice is a "Notice of Default" and describing such Default in reasonable detail, and in such Notice of Default or soon thereafter as practicable, a description of the action the Payor has taken or proposes to take with respect thereto.

 

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ARTICLE IV

Section 4.01 Events of Default. Upon the occurrence of any of the following events (each, an "Event of Default") (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) an Event of Default shall be deemed to have occurred:

	
(a)

	
Default in the payment of the Principal Amount;

(b) The Payor does not submit to the Holder 100% of the proceeds of any disposition of the Shares within five (5) days thereafter;

(c) The Payor files for relief under any other bankruptcy or insolvency law (the "Bankruptcy Code") or files an assignment for the benefit of creditors, or if an involuntary proceeding under the Bankruptcy Code or insolvency law is commenced against the Payor;

(d)      failure on the part of Payor to observe or perform any other covenant or agreement on the part of Payor contained in this Note (other than those covered by the clauses above) or in any other agreement between the Payor and the Holder;

(e) any representation, warranty or certification made by the Payor to the Holder in this Note or in any other agreement between the Payor and the Holder shall be false or misleading; or

(f) Any money judgment, writ or similar final process shall be entered or filed against Payor or any of his property or other assets, and shall remain unvacated, unbonded, unappealed, unsatisfied, or unstayed for a period of twenty (20) days.

Section 4.02 Effect of Default.Upon the occurrence of an Event of Default, the Principal Amount, and any other obligations due to the Holder shall be immediately due and payable. The Payor agrees to provide notice to the Holder of the occurrence of any Event of Default other than as provided for in Section 4.01(a). Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within five (5) days.

Section 4.03 Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default.  No right or remedy herein conferred upon or reserved to the Holder is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. No delay or omission of the Holder to exercise any right or power accruing upon any Default or Event of Default occurring and continuing as aforesaid shall impair any such right or power or shall be construed to be a waiver of any such Default or Event of Default or an acquiescence therein; and every power and remedy given by this Note or by law may be exercised from time to time, and as often as shall be deemed expedient, by the Holder.

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ARTICLE V

Section 5.01 Failure or Indulgence Not Waiver. No failure or delay on the part of Holder hereof in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege. All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available.

Section 5.02 Unconditional Obligation; Waiver. The obligations hereunder are absolute and unconditional and not subject to any defense, set-off, counterclaim, rescission, recoupment or adjustment whatsoever. The Payor hereby waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of this Note, and shall be directly and promptly liable for the payment of all sums owing and to be owing hereunder, regardless of, and without any notice, diligence, act or omission with respect to, the collection of any amount called for hereunder.

Section 5.03 Cost of Collection. If any proceeding is brought or threatened to be brought against the Payor to enforce any provision of this Note, the Payor shall pay the Holder all costs of collection, including attorneys' fees and expenses.

Section 5.04 Notices. All notices, requests, claims, demands and other communications given or made pursuant hereto shall be in writing and shall be deemed to have been duly given if delivered in person against written receipt, by facsimile transmission, overnight courier prepaid, or mailed by prepaid first class registered or certified mail, postage prepaid, return receipt requested to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section):

	
(i)

	
If to the Payor:

Maschari LTD

Contact details – Constantinos Zertalis

30 Kosta Antoniadi st., Office 201, 2nd floor,

Strovolos, 2040, Nicosia, Cyprus

Tel: 0035796555541

Email: caz@zertalis.com

(ii)  If to the Holder:

Sotirios Leontaritis

98 Aaiantos St.,

17563, Paleo Faliro, Athens, Greece,

                                                Tel: 00306981144430

                                                Email: leosot@yahoo.com

All such notices, requests and other communications will (i) if delivered personally to the address as provided in this Section, be deemed given upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided in this Section, be deemed given upon receipt, (iii) if delivered by overnight courier to the address as provided in this Section, be deemed given on the earlier of the first business day following the date sent by such overnight courier or upon receipt, or (iv) if delivered by mail in the manner described above to the address provided in this Section, be deemed given on the earlier of the third business day following mailing or upon receipt. In order for any such notice to be deemed given as provided above, any such notice must also be accompanied by an email to the recipient.

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Section 5.05 Governing Law.  This Note shall be deemed to be made under and shall be construed in accordance with the laws of Cyprus without giving effect to the principals of conflict of laws thereof. Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of the courts sitting in Cyprus, and any appellate court from any thereof, in respect of any action, suit or proceeding arising out of or relating to this Note, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action, suit or proceeding may be heard and determined in such courts.  Each of the parties hereto agrees that a final judgment in any such action, suit or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding arising out of or relating to this Note, or in any court referred to above.  Each of the parties further hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action, suit proceeding in any such court and waives any other right to which it may be entitled on account of its place of residence or domicile. THE PAYOR IRREVOCABLY WAIVES ANY AND ALL RIGHT THE PAYOR MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO THIS NOTE, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS NOTE OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS.  THE PAYOR ACKNOWLEDGES THAT THE FOREGOING WAIVER IS KNOWING AND VOLUNTARY.

Section 5.06 Severability.  The invalidity of any of the provisions of this Note shall not invalidate or otherwise affect any of the other provisions of this Note, which shall remain in full force and effect.

Section 5.07 Construction and Joint Preparation. This Note shall be construed to effectuate the mutual intent of the parties. The parties have cooperated in the drafting and preparation of this Note, and this Note therefore shall not be construed against any party by virtue of its role as the drafter thereof. No drafts of this Note shall be offered by any party, nor shall any draft be admissible in any proceeding, to explain or construe this Note. The headings contained in this Note are intended for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Note.     

Section 5.08 Entire Agreement; Amendments.  This Note shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the Payor and the Holder. This Note represents the entire agreement between the parties hereto with respect to the subject matter hereof and there are no other representations, warranties or commitments, except as set forth in this Note.  This Note may be amended or modified only by an instrument in writing executed by the Holder.

Section 5.09 Counterparts.  This Note may be executed in multiple counterparts and by facsimile, each of which shall be an original, but all of which shall be deemed to constitute on instrument.

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IN WITNESS WHEREOF, with the intent to be legally bound hereby, the parties have executed this Promissory Note as of the date first written above.

	 	 	Maschari LTD
	 	 	 
	
/s/Sotirios Leontaritis

	 	
By: /s/:Constantinos Zertalis

	
Sotirios Leontaritis

	 	
Director

	 	 	

 

6

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