Document:

Exhibit
10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of February 18, 2022, by and between Diego Pellicer
Worldwide, Inc., a Delaware corporation, with headquarters located at 6160 Plumas Street, Suite 100, Reno, NV 89519 (the “Company”)
and GS CAPITAL PARTNERS, LLC, with its address at 1 East Liberty Street Suite 600, Reno, Nevada 89501, (the “Buyer”).

 

WHEREAS:

 

A.          The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the Securities Act of 1933, as amended (the “1933 Act”);

 

B.           Buyer
desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement an 8%
note of the Company, in the form attached hereto as Exhibit A in the aggregate principal amount of $165,000 (together with any
note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms
thereof, the “Note”), convertible into shares of common stock, of the Company (the “Common Stock”), upon
the terms and subject to the limitations and conditions set forth in such Note. The Note shall contain an original issue discount
of $5,000 such that the purchase price shall be $160,000.

 

C.           The
Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth
immediately below its name on the signature pages hereto; and

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

1.          
Purchase and Sale of Note.

 

a.          Purchase
of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase
from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature pages
hereto.

 

	 CS	 

Company
Initials  

 

     

     

    

 

b.          Form
of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and
sold to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds
to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal
amount equal to the Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and
(ii) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase
Price.

 

c.       
  Closing Date. The date and time of the first issuance and sale of the Note pursuant to this
Agreement (the “Closing Date”) shall be on or about February 18, 2022, or such other mutually agreed upon time.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at
such location as may be agreed to by the parties.

 

2.           Buyer’s
Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.          Investment
Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of
or otherwise pursuant to the Note, such shares of Common Stock being collectively referred to herein as the “Conversion
Shares” and, collectively with the Note, the “Securities”) for its own account and not with a present view towards
the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act;
provided, however, that by making the representations herein, the Buyer does not agree to hold any of the Securities
for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant
to a registration statement or an exemption under the 1933 Act.

 

b.          Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D
(an “Accredited Investor”).

 

c.          Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of
the Buyer to acquire the Securities.

 

d.          Information.
The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue to be, furnished with
all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of
the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for
so long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries
nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or
affect Buyer’s right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer
understands that its investment in the Securities involves a significant degree of risk. The Buyer is not aware of any facts that
may constitute a breach of any of the Company’s representations and warranties made herein.

 

CS

 

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e.          Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

 

f.           Transfer
or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being registered
under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities
are sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have delivered to the Company,
at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in
comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an
exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to
an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)
of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited
Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the
1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to the Company, at the cost of
the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions,
which opinion shall be accepted by the Company; (ii)   any sale of such Securities made in reliance on Rule 144 may
be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities
under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that
term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations
of the SEC thereunder; and (iii)   neither the Company nor any other person is under any obligation to register such
Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder
(in each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged
as collateral in connection with a bona fide margin account or other lending arrangement.

 

CS

 

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g.                 
Legends. The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the
1933 Act may be sold pursuant to Rule 144 or Regulation S without any restriction as to the number of securities as of a particular
date that can then be immediately sold, the Conversion Shares may bear a restrictive legend in substantially the following form
(and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with
respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S, within 2 business
days, it will be considered an Event of Default under the Note.

 

h.          Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf
of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its terms.

 

i.           Residency.
The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature pages hereto.

 

j.           No
Short Sales. Buyer/Holder, its successors and assigns, agree that so long as the Note remains outstanding, the Buyer/Holder
shall not enter into or effect “short sales” of the Common Stock or hedging transaction which establishes a short
position with respect to the Common Stock of the Company. The Company acknowledges and agrees that upon delivery of a Conversion
Notice by the Buyer/Holder, the Buyer/Holder immediately owns the shares of Common Stock described in the Conversion Notice and
any sale of those shares issuable under such Conversion Notice would not be considered short sales.

 

CS

 

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3.           Representations
and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.          Organization
and Qualification. The Company and each of its subsidiaries, if any, is a corporation duly organized, validly existing and
in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate and
other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted.

 

b.          Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the
Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of the
transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance and reservation
for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized by the Company’s
Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is required,
(iii) this Agreement has been duly executed and delivered by the Company by its authorized representative, and such authorized
representative is the true and official representative with authority to sign this Agreement and the other documents executed
in connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery
by the Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms.

 

c.          Issuance
of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note in accordance
with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and encumbrances
with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the
Company and will not impose personal liability upon the holder thereof.

 

d.          Acknowledgment
of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon the issuance
of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to issue Conversion
Shares upon conversion of the Note in accordance with this Agreement, the Note is absolute and unconditional regardless of the
dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

CS

 

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e.          No
Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance
of the Conversion Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation
or By-laws, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event
which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of
its subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including
federal and state securities laws and regulations and regulations of any self-regulatory organizations to which the Company or
its securities are subject) applicable to the Company or any of its subsidiaries or by which any property or asset of the Company
or any of its subsidiaries is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations,
cancellations and violations as would not, individually or in the aggregate, have a material adverse effect). All consents, authorizations,
orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained
or effected on or prior to the date hereof. The Company is not in violation of the listing requirements of the OTC marketplace
(the “OTC MARKETS”) and does not reasonably anticipate that the Common Stock will be delisted by the OTC Markets in
the foreseeable future, nor are the Company’s securities “chilled” by DTC. The Company and its subsidiaries
are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

f.           Absence
of Litigation. Except as disclosed in the Company’s public filings, there is no action, suit, claim, proceeding, inquiry
or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to
the knowledge of the Company or any of its subsidiaries, threatened against or affecting the Company or any of its subsidiaries,
or their officers or directors in their capacity as such, that could have a material adverse effect. Schedule 3(f) contains a
complete list and summary description of any pending or, to the knowledge of the Company, threatened proceeding against or affecting
the Company or any of its subsidiaries, without regard to whether it would have a material adverse effect. The Company and its
subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

g.          Acknowledgment
Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the
capacity of arm’s length purchasers with respect to this Agreement and the transactions contemplated hereby. The Company
further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation
and is merely incidental to the Buyer’ purchase of the Securities. The Company further represents to the Buyer that the
Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its
representatives.

 

CS

 

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h.          No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would
require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the
Buyer will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any shareholder approval provisions applicable to the Company or its securities.

 

i.           Title
to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and good and
marketable title to all personal property owned by them which is material to the business of the Company and its subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(i) or such as would
not have a material adverse effect. Any real property and facilities held under lease by the Company and its subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a material adverse effect.

 

j.           Bad
Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended on the
basis of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance Guide published
by the Securities and Exchange Commission.

 

k.          Breach
of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties set forth
in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered
an Event of default under the Note.

 

4.
          COVENANTS.

 

a.          Expenses.
At the Closing, the Company shall reimburse Buyer $5,000 for expenses incurred by them in connection with the negotiation, preparation,
execution, delivery and performance of this Agreement.

 

b.          Listing.
The Company will obtain and, so long as the Buyer owns any of the Securities, maintain the listing and trading of its Common Stock
on the OTC MARKETS or any equivalent replacement exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq SmallCap
Market (“Nasdaq SmallCap”) or the New York Stock Exchange (“NYSE”), and will comply in all respects with
the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority
(“FINRA”) and such exchanges, as applicable. The Company shall promptly provide to the Buyer copies of any notices
it receives from the OTC MARKETS and any other exchanges or quotation systems on which the Common Stock is then listed regarding
the continued eligibility of the Common Stock for listing on such exchanges and quotation systems.

 

c.          Corporate
Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall not
sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or
substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s
obligations hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded
corporation whose Common Stock is listed for trading on the OTC MARKETS, Nasdaq or NYSE.

 

CS

 

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d.          No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of
the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval
provision applicable to the Company or its securities.

 

e.          Filings.
The Company shall include the Note in its next scheduled SEC filing whether that shall be a 10Q or a10K.

 

f.           Commitment
Shares. The Company shall issue the Investor a total of 1,700,000 commitment shares as additional consideration for the purchase
of the Note.

 

g.          Breach
of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies
available to the Buyer pursuant to this Agreement, it will be considered an event of default under the Note.

 

5.          
Governing Law; Miscellaneous.

 

a.          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to
principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state courts of Nevada or in the federal courts located in the state Nevada and
county or city of either Washoe County, Nevada or Clark County, Nevada. The parties to this Agreement hereby irrevocably waive
any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens. The Company and Buyer waive trial by jury. The prevailing party shall be entitled
to recover from the other party its reasonable attorney’s fees and costs. In the event that any provision of this Agreement
or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law,
then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the
validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process
and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other Transaction
Document by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such
party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any other manner permitted by law.

 

CS

 

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b.          Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto
by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

c.          Headings.
The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation
of, this Agreement.

 

d.          Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e.          Entire
Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties
with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company
nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement
may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f.           Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) via electronic
mail or (v) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such
party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given
hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal business
hours where such notice is to be received) or delivery via electronic mail, or the first business day following such delivery
(if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second
business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

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If
to the Company, to: 

 

Diego
Pellicer Worldwide, Inc. 

6160
Plumas Street, Suite 100  

Reno,
NV 89519  

Attn:
Nello Gontfiantini III, CEO

 

If
to the Buyer: 

 

GS
CAPITAL PARTNERS, LLC  

1
East Liberty Street Suite 600  

Reno,
Nevada 89501

Attn: Gabe Sayegh

 

Each
party shall provide notice to the other party of any change in address.

 

g.          Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that purchases Securities
in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act,
without the consent of the Company.

 

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

 

i.           Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the
closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to
indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a
result of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants set
forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as they
are incurred.

 

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

 

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

 

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l.           Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for
a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach
by the Company of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

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IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

Diego
Pellicer Worldwide, Inc.

 

	By:	/s/
    Christopher Strachan	 
	Attn: Christopher Strachan, CFO	 

 

GS
CAPITAL PARTNERS, LLC.

 

	By:	/s/
    Gabe Sayegh	 
	Name: Gabe Sayegh	 
	Title: Manager	 

 

AGGREGATE
SUBSCRIPTION AMOUNT:

 

	Aggregate
    Principal Amount of Note:	$165,000.00

 

Aggregate
Purchase Price:

 

Note:
$165,000.00 less $5,000.00 in original issue discount, less $5,000.00 in legal fees.

 

	Amount
    funded: 	$155,000.00

 

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EXHIBIT
A 

 

144
NOTE - $165,000.00 

 

     13Document

Exhibit 4.01
Description of Securities
Registered Pursuant to Section 12 of the
Securities Exchange Act of 1934
Oceaneering International, Inc., a Delaware corporation (“Oceaneering,” “we,” “our” or “us”), has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): common stock, par value $0.25 per share (our “common stock”).  The following contains a description of our common stock, as well as certain related additional information.  This description is a summary only and does not purport to be complete.  We encourage you to read the complete text of Oceaneering’s restated certificate of incorporation, as amended (our “certificate of incorporation”), and amended and restated bylaws (our “bylaws”), which we have incorporated by reference as exhibits to our Annual Report on Form 10-K.  References to “stockholders” refer to holders of our common stock, unless the context otherwise requires.
General
Under our certificate of incorporation, we have the authority to issue 363,000,000 shares of capital stock, consisting of 360,000,000 shares of our common stock and 3,000,000 shares of preferred stock, par value $1.00 per share (“preferred stock”).  All of the outstanding shares of our common stock are fully paid and nonassessable.
Voting Rights
Our stockholders are entitled to one vote for each share of our common stock held on all matters submitted to a vote of the stockholders, including the election of directors.  Holders of our common stock have no right to cumulate their votes in an election of directors.
Under our bylaws, in connection with an election of directors at any meeting of our stockholders at which a quorum is present, each nominee for election is elected by the vote of a plurality of votes cast.  However, our Corporate Governance Guidelines provide that, in an uncontested election of directors, any director nominee who does not receive a “for” vote by a majority of shares present in person or by proxy and entitled to vote and actually voting on the matter shall promptly tender his or her resignation to the nominating and corporate governance committee of Oceaneering’s board of directors (our “board of directors”), subject to acceptance by our board of directors.  The nominating and corporate governance committee would then make a recommendation to our board of directors with respect to the director’s resignation and our board of directors would consider the recommendation and take appropriate action within 120 days from the date of the certification of the election results.
Our bylaws also provide that, in the case of any question to come before any meeting of our stockholders at which a quorum is present and to which the stockholder approval policy of any national securities exchange or quotation system on which our capital stock is traded or quoted on our application, the requirements under the Exchange Act, or any provision of the Internal Revenue Code of 1986, as amended, or the rules and regulations thereunder (the “Code”), applies, in each case for which question our certificate of incorporation, our bylaws or the General Corporation Law of the State of Delaware, as amended (the “DGCL”), does not specify a higher voting requirement, that question will be decided by the requisite vote that such stockholder approval policy, Exchange Act requirement or Code provision, as the case may be, specifies (or the highest requisite vote if more than one applies).  A majority of the votes cast on the question whether to approve the appointment of independent public accountants (if that question is submitted for a vote of our stockholders at any such meeting) will be sufficient to approve such appointment.
All other elections and questions that have properly come before any meeting at which a quorum is present will, unless our certificate of incorporation, our bylaws or applicable law otherwise provides, be decided by the vote of the holders of shares of our capital stock present in person or by proxy at that meeting and having a majority of the votes entitled to vote on such matters.
Our board of directors may grant holders of any series of preferred stock, in the resolutions creating that series of preferred stock, the right to vote on the election of directors or any questions affecting us.  For additional discussion, see “Effects of Certain Provisions of our Certificate of Incorporation and Bylaws and Delaware Law – Issuance of Preferred Stock.”

Dividend Rights
Subject to the preferred rights of the holders of shares of any class or series of preferred stock, holders of our common stock are entitled to receive, out of our funds legally available therefor, such dividends (payable in cash, stock or otherwise) as our board of directors may from time to time determine, payable to stockholders of record on such record dates as shall be established by our board of directors.  The declaration and amount of future dividends is at the discretion of our board of directors and will depend on, among other factors, our financial condition, results of operations, cash flows, current and anticipated expansion plans, requirements under Delaware law and other factors that our board of directors may deem relevant.  In addition, the payment of dividends on our common stock may be limited by obligations we may have to holders of any preferred stock or by the provisions of our debt instruments.
Liquidation Rights
Our stockholders would be entitled to share ratably in our net assets upon a liquidation or dissolution, after the payment or provision for all liabilities and subject to any preferential liquidation rights of any preferred stock that at the time may be outstanding.
No Preemptive, Conversion or Redemption Rights
Our stockholders have no preemptive, subscription, conversion or redemption rights, and are not subject to further calls or assessments by us.  There are no sinking fund provisions applicable to our common stock.
Listing
Our common stock is traded on the New York Stock Exchange under the symbol “OII.”
Effects of Certain Provisions of Our Certificate of Incorporation and Bylaws and Delaware Law
Our certificate of incorporation, our bylaws and Delaware law contain provisions that may delay, defer or prevent a change of control of Oceaneering, including pursuant to one or more proposals a stockholder might consider to be in his or her best interest, impede or lengthen a change in membership of our board of directors or make removal of our management more difficult.
Action by Stockholders Without a Meeting
Our bylaws provide that stockholders may take action without a meeting of stockholders only if the holders of a majority of the stock which would have been entitled to vote upon such action consent in writing to such action.  The bylaw provisions require that any stockholder proponent seeking to effect an action by written consent must deliver to our corporate secretary a written notice (together with accompanying materials, in the case of the election of directors) containing substantially the same information or meeting substantially the same requirements as described below under “Advance-Notice Provisions” and request that our board of directors fix a record date for determining stockholders entitled to consent in writing to such action.  If our board of directors determines that such notice and request are in proper form, our bylaws provide that the board of directors shall promptly adopt a resolution fixing the record date.  No written consent will be effective to take the specified corporate action unless written consents signed by a sufficient number of stockholders of record to take such action are delivered to us within a 60-day period, beginning with the first date on which a written consent with respect to such action is delivered to us.
Special Meetings of Stockholders
Our bylaws provide that special meetings of stockholders may be called at any time by:
•our board of directors, pursuant to a resolution to call a special meeting that a majority of the total number of our directors has duly adopted;
•any committee of our board of directors that is duly designated and empowered to call special meetings;
•the chairman of our board of directors; and
•our chief executive officer.

No other person or persons may call a special meeting of stockholders.  The business to be transacted at any special meeting of stockholders will be confined to the purpose stated in the notice of the meeting.
Advance-Notice Provisions
Our bylaws contain advance-notice and other procedural requirements that apply to stockholder nominations of persons for election to the board of directors at any annual or special meeting of stockholders and to stockholder proposals that stockholders take any other action at any annual meeting.
Generally, in the case of an annual meeting, stockholders must deliver to our corporate secretary a written notice between 180 and 90 days before the anniversary date of our immediately preceding annual meeting of the stockholders.  In the case of an annual meeting that is more than 30 days before or more than 60 days after such anniversary date, stockholders must deliver such notice 90 days prior to such annual meeting or 10 days following the day on which public announcement of the date of such meeting is first made by us.  If the chairman of our board of directors, a majority of our board of directors or our chief executive officer calls a special meeting of stockholders for the election of directors, a stockholder proposing to nominate a person for that election must give our corporate secretary written notice of the proposal not earlier than 180 days prior to that special meeting and not later than the last to occur of (1) 90 days prior to that special meeting or (2) the 10th day following the day we publicly disclose the date of the special meeting.  In no event will the adjournment of a meeting of stockholders, or postponement or recess of a meeting of stockholders for which notice was given, or the public announcement of such adjournment, postponement or recess, commence a new time period for any stockholder to give notice.
To be in proper form, the notice must include, among other things, (1) the name and address of the stockholder, certain information regarding the shares owned by the stockholder or any “associate” (generally defined to mean any person with whom the stockholder has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting or disposing of any of our capital stock), (2) a description of any agreement, arrangement or understanding relating to any hedging or certain other transactions that have been entered into or made by the stockholder or any associate of the stockholder, (3) a description of specified types of agreements, arrangements or understandings between the stockholder or any associate of the stockholder and each proposed nominee of the stockholder (in the case of nominations for election of directors) or any other person (in the case of other business proposed to be brought before the meeting), including any agreements, arrangements or understandings relating to acquiring, holding or voting shares, or changing or influencing control of Oceaneering, (4) a list of all transactions by the stockholder or any associate of the stockholder involving any of our securities or any of the hedging or other transactions referred to above within the six-month period immediately prior to the date of the notice, (5) certain representations made by the stockholder (including, among other things, a representation that the stockholder or a qualified representative of the stockholder intends to appear in person at that meeting to bring that other business or nomination before that meeting and a representation that the stockholder is a holder of record of capital stock entitled to vote at the meeting and will continue to be a holder of record of capital stock entitled to vote at the meeting through the date of the meeting) and (6) all other information, if any, relating to the stockholder or any associate of the stockholder that would be required to be disclosed in solicitations of proxies for election of directors in an election contest, or is otherwise required, in each case pursuant to Regulation 14A under the Exchange Act.  To nominate one or more directors, the notice must also include, as to each person whom the stockholder proposes to nominate for election as a director, the name, age, and business and residence addresses of such person, the principal occupation or employment of such person, certain information regarding the shares owned by the stockholder and all other information, if any, relating to such person that would be required to be disclosed in solicitations of proxies for election of directors in an election contest, or is otherwise required, in each case pursuant to Regulation 14A under the Exchange Act.  Any such notice relating to one or more director nominations must be accompanied by the following documents (which we will provide in standard form upon request), each completed and signed by the nominee(s): (1) a questionnaire (with respect to the background and qualifications of such person) and (2) a representation and agreement (with respect to (a) certain voting commitments, (b) agreements as to compensation, reimbursement or indemnification in connection with service or action as a director, (c) compliance with applicable law and applicable stock exchange rules, the applicable provisions of our bylaws and certain of our policies and guidelines and (d) the intention, if elected as a director, to serve the full term for which such person is elected.  Additionally, the notice must include such other information about the stockholder, each proposal and nominee as required by the Securities and Exchange Commission.  Our bylaws also require notification from a stockholder proponent if any of the information provided in its business proposal or nomination notice changes, within a specified time period prior to the meeting of stockholders.

Director nominations and stockholder proposals that are late or that do not include all required information may be rejected.
The advance-notice provisions may have the effect of precluding a contest for the election of directors or the consideration of stockholder proposals if the proper procedures are not followed, and of discouraging or deterring a third party from conducting a solicitation of proxies to elect its own slate of directors or to approve its own proposal.
Classified Board of Directors
Our certificate of incorporation and bylaws provide for a classified board of directors.  Except for directors that the holders of preferred stock may elect, our board of directors is divided into three classes, with the directors of each class as nearly equal in number as possible.  The directors of each class serve a term that expires at the third succeeding annual meeting of our stockholders after their election, and each director holds office until his or her successor is duly elected and qualified.  At each annual meeting of our stockholders, the term of a different class of our directors expires.
Our certificate of incorporation also provides that:
•the classified board provisions may not be amended without the affirmative vote of the holders of at least 80% of the outstanding shares of our common stock;
•no decrease in the number of our directors will shorten the term of any incumbent director; and
•a director may be removed only for cause.
As described below under “Vacancies on our Board of Directors,” our certificate of incorporation also provides generally that any vacancies will be filled only by the affirmative vote of a majority of our remaining directors, even if less than a quorum.  Therefore, without an amendment to our certificate of incorporation, our board of directors could prevent any stockholder from enlarging our board of directors and filling the new directorships with that stockholder's own nominees.
The classification of our board of directors could prevent a party who acquires control of a majority of our outstanding “voting stock” (defined to include all outstanding shares of capital stock of Oceaneering or another corporation entitled to vote generally in the election of directors) from obtaining control of our board of directors until the second annual stockholders' meeting following the date that party obtains that control.
Vacancies on our Board of Directors
Our bylaws provide that, subject to the rights of the holders of any outstanding series of preferred stock and unless otherwise required by law or resolution of our board of directors, newly created vacancies on the board of directors arising through death, resignation or removal, an increase in the number of directors or otherwise may be filled by a majority of the directors then in office, even if less than a quorum.
Business Combination Transactions Requiring More Than a Majority Vote.
Under our certificate of incorporation, the holders of at least 80% of the voting power of the then outstanding shares of our capital stock who are eligible to vote generally in the election of directors are required to approve some types of business transactions between Oceaneering and a “related person” (defined to include any person or entity that, together with its affiliates and associates, beneficially owns 20% or more of our outstanding voting stock), including:
•any merger or consolidation of Oceaneering or any of our subsidiaries with a related person;
•any sale, lease, exchange, mortgage, transfer or other disposition of assets, including voting securities of our subsidiaries, representing more than 30% of the fair market value of our total assets to a related person;

•specified types of asset acquisitions, including acquisitions of securities of a related person, from a related person; and
•the issuance by us or any of our subsidiaries of any of our securities or securities of any of our subsidiaries to a related person.
The same level of stockholder approval is also required for:
•the adoption of any plan or proposal for our liquidation or dissolution if, as of the record date for the determination of stockholders entitled to vote on that plan or proposal, any person is a related person;
•any recapitalization that would have the effect of increasing the voting power of a related person; and
•any amendment of these super-majority approval requirements.
The continuing directors, as defined in our certificate of incorporation, may waive the provisions described above by special vote approving the business combination transaction.  In addition, these provisions will not apply if specific fair price requirements are met.
The super-majority requirements described above could cause the following:
•a delay, deferral or prevention of a change in control of our company;
•entrench management; or
•make it more difficult to effect a business transaction even if the transaction is favored by a majority of our independent stockholders.
Delaware Business Combination Statute
We are a Delaware corporation and are subject to Section 203 of the DGCL (“Section 203”).  Section 203 prohibits a “business combination” between a corporation and an “interested stockholder” within three years of the time the stockholder became an interested stockholder, unless:
•prior to such time, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;
•upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, exclusive of shares owned by directors who are also officers and by certain employee stock plans; or
•at or subsequent to such time, the business combination is approved by the board of directors and authorized at a stockholders’ meeting by at least two‐thirds of the outstanding voting stock that is not owned by the interested stockholder.
Under Section 203, the restrictions described above also do not apply to specific business combinations proposed by an interested stockholder following the announcement or notification of designated extraordinary transactions involving the corporation and a person who had not been an interested stockholder during the previous three years or who became an interested stockholder with the approval of a majority of the corporation's directors, if a majority of the directors who were directors prior to any person's becoming an interested stockholder during the previous three years, or were recommended for election or elected to succeed those directors by a majority of those directors, approve or do not oppose that extraordinary transaction.
Generally under Section 203:  (1) a “business combination” includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder; and (2) an “interested stockholder” is a person who owns 15% or more of the corporation’s outstanding voting stock, together with the affiliates or associates of such person.

Issuance of Preferred Stock
Our certificate of incorporation authorizes up to 3,000,000 shares of preferred stock.  Preferred stock may, by resolution, from time to time, be issued in one or more series as may be determined by our board of directors, and the board of directors, without further approval of the stockholders, is authorized to fix by resolution or resolutions providing for the classification, liquidation and dividend rights, voting rights, conversion or exchange rights, and any other rights, restrictions and qualifications of and the terms of any redemption and liquidation preferences and any purchase, retirement or sinking fund which may be provided for such shares of preferred stock, to the fullest extent permitted by applicable law.  The issuance of shares of preferred stock may adversely affect the rights of the holders of our common stock.  For example, any preferred stock issued may rank prior to our common stock as to dividend rights, liquidation preference or both, may have full or limited voting rights and may be convertible into shares of common stock.  As a result, the issuance of shares of preferred stock may discourage bids for shares of our common stock or may otherwise adversely affect the market price of our common stock.  Furthermore, undesignated preferred stock may enable our board of directors to render more difficult or to discourage an attempt to obtain control of us by means of a tender offer, proxy contest, merger or otherwise, and to thereby protect the continuity of our management.
Limitations on Directors’ Liability
Delaware law authorizes Delaware corporations to limit or eliminate the personal liability of their directors to them and their stockholders for monetary damages for breach of a director's fiduciary duty of care.  The duty of care requires that, when acting on behalf of the corporation, directors must exercise an informed business judgment based on all material information reasonably available to them.  Absent the limitations Delaware law authorizes, directors of Delaware corporations are accountable to those corporations and their stockholders for monetary damages for conduct constituting gross negligence in the exercise of their duty of care.  Delaware law enables Delaware corporations to limit available relief to equitable remedies such as injunction or rescission.  Our certificate of incorporation limits the liability of our directors to us or our stockholders to the fullest extent Delaware law permits.
Specifically, no member of our board of directors will be personally liable for monetary damages for any breach of the member's fiduciary duty as a director, except for liability:
•for any breach of the member's duty of loyalty to us or our stockholders;
•for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;
•for unlawful payments of dividends or unlawful stock repurchases or redemptions or provided in Section 174 of the DGCL; and
•for any transaction from which the member derived an improper personal benefit.
This provision could have the effect of reducing the likelihood of derivative litigation against our directors and may discourage or deter our stockholders or management from bringing a lawsuit against our directors for breach of their duty of care, even though such an action, if successful, might otherwise have benefited our stockholders and us.  Our bylaws provide indemnification to our officers and directors and other specified persons with respect to their conduct in various capacities, and we have entered into agreements with each of our directors and officers which indemnify them to the fullest extent Delaware law permits.
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Computershare Trust Company, N.A.

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