Document:

Exhibit 10.1

 

SHARE EXCHANGE AGREEMENT

 

This SHARE EXCHANGE AGREEMENT
(this “Agreement”), dated as of November 13, 2013 is by and among Banjo & Matilda, Inc., a Nevada corporation
(the “Parent”), Banjo & Matilda, Pty Ltd, a corporation formed under the laws of Australia (the “Company”),
and the Stockholders of the Company that are signatories hereto (the “Stockholders”).

 

BACKGROUND

 

 

The Company has 100 shares
of its capital stock (the “Company Stock”) issued and outstanding, all of which are held by the Stockholders.
Each of the Stockholders is the record and beneficial owner of the number of shares of Company Stock set forth opposite such Stockholder’s
name on Exhibit A. Each of the Stockholders has agreed to transfer all of his, her or its (hereinafter “its”)
shares of Company Stock in exchange for the number of shares of Common Stock, par value $0.00001 per share, of the Parent (the
“Parent Stock”) listed opposite such Stockholder’s name on Exhibit A, which in the aggregate amount
to a total of 18,505,539 shares of Parent Stock (the “Shares”).

 

The exchange of Company
Stock for Parent Stock is intended to constitute a reorganization within the meaning of Section 368(a)(1)(B) of the Internal Revenue
Code of 1986 (the “Code”), as amended or such other tax free reorganization exemptions that may be available
under the Code.

 

The Boards of Directors
of the Parent and of the Company have determined that it is desirable to effect this plan of reorganization and share exchange.

 

AGREEMENT

 

NOW THEREFORE, the parties
agree as follows:

 

ARTICLE
I

Exchange of Shares

 

SECTION
1.01.       Exchange by Stockholders. At the Closing (as defined in Section 1.02
below), each of the Stockholders shall sell, transfer, convey, assign and deliver to the Parent its Company Stock free and clear
of all Liens (as defined in Section 2.01 below) in exchange for the number of Shares listed on Exhibit A opposite such Stockholder’s
name.

 

SECTION
1.02.       Closing. The closing (the “Closing”) of the transactions
contemplated hereby (the “Transactions”) shall take place on the date hereof or on such later date as the parties
hereto may agree (the “Closing Date”).

 

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ARTICLE
II

Representations and Warranties of Stockholders

 

Each of the Stockholders
hereby severally (and not jointly) represents and warrants to the Parent with respect to itself, as follows:

 

SECTION
2.01.       Good Title. The Stockholder is the record and beneficial owner to
the shares of Company Stock held by him or her, and has good title to its Company Stock, with the right and authority to sell and
deliver such Company Stock to the Parent. Upon delivery of any certificate or certificates duly assigned, representing the same
as herein contemplated and/or upon registering of the Parent as the new owner of the Company Stock in the share register of the
Company, the Parent will receive good title to its Company Stock, free and clear of all liens, security interests, mortgages, pledges,
charges, equities and claims of any kind or other encumbrances of any nature whatsoever (collectively, “Liens”),
voting trusts or stockholder agreements.

 

SECTION
2.02.       Enforceability. All acts required to be taken by the Stockholders
to enter into this Agreement and to carry out the Transactions have been properly taken. This Agreement constitutes a legal, valid
and binding obligation of the Stockholder, enforceable against such Stockholder in accordance with the terms hereof.

 

SECTION
2.03.       No Conflicts. The execution and delivery of this Agreement by the
Stockholder and the performance by the Stockholder of its obligations hereunder in accordance with the terms hereof: (i) will not
require the consent of any third party or any federal, state, local or foreign government or any court of competent jurisdiction,
administrative agency or commission or other governmental authority or instrumentality, domestic or foreign (“Governmental
Entity”) under any statutes, laws, ordinances, rules, regulations, orders, writs, injunctions, judgments, or decrees
(collectively, “Laws”) applicable to the Company, the Stockholder or its Company Stock; (ii) will not violate
any Laws applicable to such Stockholder or its Company Stock and (iii) will not violate or breach any contractual obligation to
which such Stockholder is a party.

 

SECTION
2.04.       No Finder’s Fee. The Stockholder has not created any obligation
for any finder’s, investment banker’s or broker’s fee in connection with this Agreement or with the Transactions.

 

SECTION
2.05.       Purchase Entirely for Own Account. The Parent Stock to be issued to
the Stockholder hereunder will be acquired for investment for the Stockholder’s own account, and not with a view to the resale
or distribution of any part thereof, and the Stockholder has no present intention of selling or otherwise distributing the Parent
Stock, except in compliance with applicable securities laws.

 

SECTION
2.06.       Available Information. The Stockholder acknowledges awareness that
Parent information is available on the SEC EDGAR website. The Stockholder has such knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of investment in the Parent.

 

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SECTION
2.07.       Non-Registration. The Stockholder understands that the Parent Stock
issued to it under this Agreement has not been registered under the Securities Act of 1933, as amended (the “Securities
Act”) and, if issued in accordance with the provisions of this Agreement, will be issued by reason of a specific exemption
from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment
intent and the accuracy of the Stockholder’s representations as expressed herein.

 

SECTION
2.08.       Restricted Securities. The Stockholder understands that the Parent
Stock is characterized as “restricted securities” under the Securities Act inasmuch as this Agreement contemplates
that, if acquired by the Stockholder pursuant hereto, the Parent Stock would be acquired in a transaction not involving a public
offering. The Stockholder further acknowledges that if the Parent Stock is issued to the Stockholder in accordance with the provisions
of this Agreement, such Parent Stock may not be resold without registration under the Securities Act or the existence of an exemption
therefrom. In this connection, the Stockholder represents that it is familiar with Rule 144 promulgated under the Securities Act,
as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

 

SECTION
2.09.       Legends. The Stockholder understands that the certificates representing
Parent Stock to be issued under this Agreement will bear one or all of the following legends or any legend substantially similar
to the following:

 

(a)       “THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION
OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS SOLD PURSUANT TO RULE 144 OF
SUCH ACT.”

 

(b)       Any
legend required by the “blue sky” laws of any state to the extent such laws are applicable to the securities represented
by the certificate so legended.

 

ARTICLE
III

Representations and Warranties of the Company

 

In order to induce
the Parent to enter into this Agreement and to issue the Shares to the Stockholders, the Company and each of the Stockholders severally
(and not jointly) hereby make the following representations and warranties to the Parent:

 

SECTION
3.01.       Organization, Standing and Power. The Company is a corporation duly
incorporated, validly existing and in good standing under the laws of Australia and has the requisite corporate power to own, lease
and operate its properties and assets and to conduct its business as it is now being conducted. The Company is duly qualified as
a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted
or property owned by it makes such qualification necessary, except for any jurisdiction(s) (alone or in the aggregate) in which
the failure to be so qualified will not have a Material Adverse Effect. For the purposes of this Agreement, “Material
Adverse Effect” shall mean any adverse effect on an entity’s business, operations, assets, prospects or financial
condition of such entity, taken as a whole, and which is material to such entity or other entities controlling or controlled by
such entity or which is likely to materially hinder the performance by such entity of its obligations hereunder.

 

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SECTION
3.02.       Company Subsidiaries. The Company does not have any Subsidiaries.
For the purposes of this Agreement, “Subsidiary” shall mean, with respect to any corporation or other entity,
any corporation or other entity of which at least a majority of the securities or other ownership interest having ordinary voting
power (absolutely or contingently) for the election of directors or other persons performing similar functions are at the time
owned directly or indirectly by such corporation or other entity and/or any of its other Subsidiaries

 

SECTION
3.03.       Capital Structure. The authorized capital stock of the Company consists
of 100 shares of common stock, of which, 100 shares are issued and outstanding. Except as set forth above, no shares of capital
stock or other voting securities of the Company are issued, reserved for issuance or outstanding. All outstanding shares of the
capital stock of the Company are duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in
violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right
under any provision of the applicable corporation law or any contract to which the Company is a party or otherwise bound. There
are not any bonds, debentures, notes or other indebtedness of Company having the right to vote (or convertible into, or exchangeable
for, securities having the right to vote) on any matters on which holders of shares of common stock of the Company may vote (“Voting
Company Debt”). Except as set forth on Schedule 3.03, as of the date of this Agreement, there are not any options,
warrants, rights, convertible or exchangeable securities, “phantom” stock rights, stock appreciation rights, stock-based
performance units, commitments, Contracts, arrangements or undertakings of any kind to which the Company is a party or by which
its is bound (i) obligating the Company to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares
of capital stock or other equity interests in, or any security convertible or exercisable for or exchangeable into any capital
stock of or other equity interest in, the Company or any Voting Company Debt, (ii) obligating the Company to issue, grant, extend
or enter into any such option, warrant, call, right, security, commitment, contract, arrangement or undertaking or (iii) that give
any person the right to receive any economic benefit or right similar to or derived from the economic benefits and rights occurring
to holders of the capital stock of the Company. As of the date of this Agreement, there are not any outstanding contractual obligations
of the Company to repurchase, redeem or otherwise acquire any shares of capital stock of the Company.

 

SECTION
3.04.       Authority; Execution and Delivery; Enforceability. The Company has
the requisite corporate power and authority to enter into and perform this Agreement. The execution, delivery and performance of
this Agreement by the Company and the consummation by the Company of the transactions contemplated thereby have been duly and validly
authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors
or stockholders is required. This Agreement has been duly executed and delivered by the Company. This Agreement constitutes a valid
and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws
relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by equitable principles or remedies
of general application.

 

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SECTION
3.05.       No Conflicts; Consents.

 

(a)       The
execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated
hereby do not and will not (i) violate any provision of the Articles of Incorporation or the Bylaws of the Company, (ii) conflict
with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, mortgage, deed of trust, indenture,
note, bond, license, lease agreement, instrument or obligation to which the Company is a party or by which the Company’s
properties or assets are bound, (iii) create or impose a lien, mortgage, security interest, charge or encumbrance of any nature
on any property or asset of the Company under any agreement or any commitment to which the Company is a party or by which the Company
is bound or by which any of its properties or assets are bound, or (iv) result in a violation of any federal, state, local or foreign
statute, rule, regulation, order, judgment or decree (including the securities laws and regulations of Australia) applicable to
the Company or by which any property or asset of the Company is bound or affected, except, in all cases other than violations pursuant
to clause (iv) (with respect to U.S. federal and state securities laws) above, for such conflicts, defaults, terminations, amendments,
acceleration, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect. The
business of the Company is not being conducted in violation of any Laws, except for possible violations which, singularly or in
the aggregate, do not and will not have a Material Adverse Effect. The Company is not required under federal, state, foreign or
local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any Governmental
Entity in order for it to execute, deliver or perform any of its obligations under the this Agreement.

 

(b)       Except
as set forth in Schedule 3.05 hereto, no material consent, approval, license, permit, order or authorization (“Consent”)
of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by
or with respect to the Company in connection with the execution, delivery and performance of this Agreement or the consummation
of the Transactions.

 

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SECTION
3.06.       Taxes. Except as set forth on Schedule 3.06 hereto, the Company
has accurately prepared and filed all governmental and other tax returns required by Australian law to be filed by it, has paid
or made provisions for the payment of all taxes shown to be due and all additional assessments, and adequate provisions have been
and are reflected in the financial statements of the Company for all current taxes and other charges to which the Company is subject
and which are not currently due and payable. The Company has no knowledge of any additional assessments, adjustments or contingent
tax liability of any nature whatsoever, whether pending or threatened against the Company for any period, nor of any basis for
any such assessment, adjustment or contingency.

 

SECTION
3.07.       Employees. The Company does not have any collective bargaining arrangements
or agreements covering any of its employees. Except as set forth on Schedule 3.07, the Company does not have and, after
giving effect to the Transactions, will not have, any employment contract, agreement regarding proprietary information, non-competition
agreement, non-solicitation agreement, confidentiality agreement, or any other similar contract or restrictive covenant, relating
to the right of any officer, employee or consultant to be employed or engaged by the Company. Since September 30, 2013, no
officer, consultant or key employee of the Company whose termination, either individually or in the aggregate, could have a Material
Adverse Effect, has terminated or, to the knowledge of the Company, has any present intention of terminating his or her employment
or engagement with the Company.

 

SECTION
3.08.       Litigation. There is no action, suit, claim, investigation, arbitration,
alternate dispute resolution proceeding or other proceeding pending or, to the knowledge of the Company, threatened against the
Company which questions the validity of this Agreement or the Transactions or any action taken or to be taken pursuant hereto.
There is no action, suit, claim, investigation, arbitration, alternate dispute resolution proceeding or other proceeding pending
or, to the knowledge of the Company, threatened against or involving the Company or any of its properties or assets, which, individually
or in the aggregate, would have a Material Adverse Effect. There are no outstanding orders, judgments, injunctions, awards or decrees
of any court, arbitrator or governmental or regulatory body against the Company or any officers or directors of the Company in
their capacities as such, which, individually or in the aggregate, would have a Material Adverse Effect.

 

SECTION
3.09.       Compliance with Applicable Laws. The business of the Company has been
and is presently being conducted in accordance with all applicable Laws, except for any noncompliance with such Laws that, individually
or in the aggregate, would not have a Material Adverse Effect. The Company has all franchises, permits, licenses, consents and
other governmental or regulatory authorizations and approvals necessary for the conduct of its business as now being conducted
by it unless the failure to possess such franchises, permits, licenses, consents and other governmental or regulatory authorizations
and approvals, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

SECTION
3.10.       Brokers. The Company has not employed any broker or finder or incurred
any liability for any brokerage or investment banking fees, commissions, finders’ structuring fees, financial advisory fees
or other similar fees in connection with this Agreement or the Transactions.

 

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SECTION
3.11.       Contracts. Except for this Agreement and as set forth on Schedule
3.11 hereto, the Company is not a party to any written or oral contract, instrument, agreement, commitment, obligation, plan
or arrangement, a copy of which would be required to be filed with the Securities and Exchange Commission (the “Commission”)
if the Company were registering securities under the Securities Act (collectively, “Company Material Agreements”).
Except as set forth on Schedule 3.11 hereto, the Company has in all material respects performed all the obligations required
to be performed by it to date under its Company Material Agreements, has received no notice of default and, to the best of the
Company’s knowledge, is not now, and after giving effect to the Transactions will not be, in default under any the Company
Material Agreement now in effect, the result of which could cause a Material Adverse Effect.

 

SECTION
3.12.       Title to Properties. The Company has and, after giving effect to the
Transactions, will continue to have, good and marketable title to all of its real and personal property, free and clear of any
Liens, except for those indicated on Schedule 3.12 hereto or such Liens that, individually or in the aggregate, do not have
a Material Adverse Effect. All material leases of the Company are valid and subsisting and in full force and effect.

 

SECTION
3.13.       Intellectual Property. Schedule 3.13 contains a complete and
correct list of all patents, trademarks, patent and/or trademark applications, domain names (whether or not registered) and any
patentable improvements or copyrightable derivative works thereof, websites and intellectual property rights relating thereto,
service marks, trade names, copyrights, licenses and authorizations, and all rights with respect to the foregoing owned or licensed
by the Company (collectively, the “Company Proprietary Rights”). The Company owns or possesses and, after giving
effect to the Transactions, will continue to own or possess, all the Company Proprietary Rights which are necessary for the conduct
of its business as now conducted without any conflict with the rights of others. Except as disclosed on Schedule 3.13 hereto,
(i) as of the date of this Agreement, the Company has not received any written notice that any Company Proprietary Rights have
been declared unenforceable or otherwise invalid by any court or governmental agency or will become unenforceable or otherwise
invalid as a result of the Transactions, and (ii) as of the date of this Agreement, there is, to the knowledge of the Company,
no material existing infringement, misuse or misappropriation of any Company Proprietary Rights by others that could have a Material
Adverse Effect. The Company has not received any written notice alleging that the operation of the business of the Company infringes
in any material respect upon the intellectual property rights of others.

 

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SECTION
3.14.       Environmental Compliance. Except as disclosed on Schedule 3.14
hereto, the Company has obtained all material approvals, authorization, certificates, consents, licenses, orders and permits or
other similar authorizations of all governmental authorities, or from any other person, that are required under any Company Environmental
Laws for the operation of its business as currently conducted and for the consummation of the Transactions. Schedule 3.14
hereto sets forth all material permits, licenses and other authorizations issued under any Company Environmental Laws to the Company.
“Company Environmental Laws” shall mean all governmental laws applicable to the Company relating to the protection
of the environment including, without limitation, all requirements pertaining to reporting, licensing, permitting, controlling,
investigating or remediating emissions, discharges, releases or threatened releases of hazardous substances, chemical substances,
pollutants, contaminants or toxic substances, materials or wastes, whether solid, liquid or gaseous in nature, into the air, surface
water, groundwater or land, or relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of hazardous substances, chemical substances, pollutants, contaminants or toxic substances, material or wastes, whether
solid, liquid or gaseous in nature. Except as set forth on Schedule 3.14 hereto, the Company has and, after giving effect
to the Transactions, will continue to have, all necessary governmental approvals required under all the Company Environmental Laws
and used in its business, except for such instances as would not, individually or in the aggregate, have a Material Adverse Effect.
The Company is also in compliance with all other limitations, restrictions, conditions, standards, requirements, schedules and
timetables required or imposed under all Company Environmental Laws where non-compliance could have a Material Adverse Effect.
Except for such instances as would not individually or in the aggregate have a Material Adverse Effect, there are no past or present
events, conditions, circumstances, incidents, actions or omissions relating to or in any way affecting the Company that violate
or may violate any Company Environmental Law after the Closing or that may give rise to any Environmental Liabilities, or otherwise
form the basis of any claim, action, demand, suit, proceeding, hearing, study or investigation (i) under any Company Environmental
Law, or (ii) based on or related to the manufacture, processing, distribution, use, treatment, storage (including, without limitation,
underground storage tanks), disposal, transport or handling, or the emission, discharge, release or threatened release of any hazardous
substance. “Company Environmental Liabilities” means all liabilities of a person (whether such liabilities are
owed by such person to governmental authorities, third parties or otherwise) currently in existence or arising hereafter and which
arise under or relate to any Company Environmental Law.

 

SECTION
3.15.       Financial Statements. As of their respective dates, the financial
statements of the Company annexed to Schedule 3.15 hereto and previously delivered to the Parent (the “Company
Financial Statements”) comply as to form in all material respects with applicable accounting requirements and the published
rules and regulations of the Commission or other applicable rules and regulations with respect thereto. Such financial statements
have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) applied on a consistent
basis during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto,
or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary
statements), and fairly present in all material respects the financial position of the Company as of the dates thereof and the
results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end
audit adjustments).

 

SECTION
3.16.       No Material Adverse Change. Since September 30, 2013, no event or
condition has occurred with respect to the Company which has had or could reasonably be expected to have a Material Adverse Effect.

 

SECTION
3.17.       Transactions With Affiliates and Employees. Except as set forth on
Schedule 3.17 hereto, there are no loans, leases, agreements, contracts, royalty agreements, management contracts or arrangements
or other continuing transactions between (i) the Company or any of its customers or suppliers, on the one hand, and (ii) on the
other hand, any officer, employee, consultant or director of the Company, or any person owning any capital stock of the Company
or any member of the immediate family of such officer, employee, consultant, director or stockholder or any corporation or other
entity controlled by such officer, employee, consultant, director or stockholder.

 

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SECTION
3.18.       Internal Accounting Controls. The books, records and documents of
the Company accurately reflect in all material respects the information relating to the business of the Company, the location and
collection of its assets, and the nature of all transactions giving rise to the obligations or accounts receivable of the Company.
The Company maintains a system of internal accounting controls sufficient, in the judgment of the Company’s board of directors,
to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations,
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain
asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization,
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate actions
are taken with respect to any differences.

 

SECTION
3.19.       No Undisclosed Liabilities. Except as disclosed on Schedule 3.19
hereto, the Company has no liabilities, obligations, claims or losses (whether liquidated or unliquidated, secured or unsecured,
absolute, accrued, contingent or otherwise) other than those set forth on the balance sheet as of June 30, 2013 included in the
Company Financial Statements or incurred in the ordinary course of the Company’s business since June 30, 2013, and which,
individually or in the aggregate, do not or would not have a Material Adverse Effect on the Company.

 

SECTION
3.20.       Indebtedness. Schedule 3.20 hereto sets forth as of the date
hereof all outstanding secured and unsecured Indebtedness of the Company, or for which the Company has commitments, which is not
disclosed in the Company Financial Statements. The Company is not in default with respect to any Indebtedness. For the purposes
of this Agreement, “Indebtedness” shall mean (i) any liabilities for borrowed money in excess of $25,000 (other
than trade accounts payable incurred in the ordinary course of business), (ii) all guaranties, endorsements and other contingent
obligations in respect of Indebtedness of others in excess of $25,000, whether or not the same are or should be reflected in the
Company’s balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business, and (iii) the present value of any lease payments in excess
of $25,000 due under leases required to be capitalized in accordance with GAAP.

 

SECTION
3.21.       Disclosure. To the best of the Company’s knowledge, neither
this Agreement nor any other documents, certificates or instruments furnished to the Parent by or on behalf of the Company in connection
with this Agreement and/or the Transactions contains any untrue statement of a material fact or omits to state a material fact
necessary in order to make the statements made herein or therein, in the light of the circumstances under which they were made
herein or therein, not misleading.

 

SECTION
3.22.       Additional Agreements. Other than
this Agreement, the Company does not have any agreement or understanding with the Parent, any Stockholder or any other person or
entity with respect to the Transactions or any other transactions contemplated by this Agreement.

 

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SECTION
3.23.       Absence of Certain Developments. Except as set forth on Schedule
3.23 hereto, since September 30, 2013, the Company has not:

 

(a)       issued
any stock, bonds or other corporate securities or any rights, options or warrants with respect thereto;

 

(b)       borrowed
any amount or incurred or become subject to any liabilities (absolute or contingent) except current liabilities incurred in the
ordinary course of business which are comparable in nature and amount to the current liabilities incurred in the ordinary course
of business during the comparable portion of its prior fiscal year, as adjusted to reflect the current nature and volume of the
Company’s business;

 

(c)       discharged
or satisfied any material lien or encumbrance or paid a material amount of any obligation or liability (absolute or contingent),
other than current liabilities paid in the ordinary course of business;

 

(d)       declared
or made any payment or distribution of cash or other property to any Stockholder with respect to its stock, or purchased or redeemed,
or made any agreements so to purchase or redeem, any shares of its capital stock;

 

(e)       sold,
assigned or transferred any other tangible assets, or canceled any debts or claims, except in the ordinary course of business;

 

(f)       sold,
assigned or transferred any Company Proprietary Rights, which sale, assignment or transfer has had a Material Adverse Effect, or
disclosed any proprietary confidential information to any person except in the ordinary course of business or to the Parent or
its representatives;

 

(g)       suffered
any substantial losses or waived any rights of material value, whether or not in the ordinary course of business, or suffered the
loss of any material amount of prospective business;

 

(h)       made
any changes in employee compensation except in the ordinary course of business and consistent with past practices;

 

(i)       made
capital expenditures or commitments therefor that aggregate in excess of $25,000;

 

(j)       entered
into any other transaction other than in the ordinary course of business, or entered into any other material transaction, whether
or not in the ordinary course of business;

 

(k)       suffered
any material damage, destruction or casualty loss, whether or not covered by insurance; and/or

 

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(l)       experienced
any material problems with labor or management in connection with the terms and conditions of their employment, or entered into
an agreement, written or otherwise, to take any of the foregoing actions.

 

ARTICLE
IV

Representations and Warranties of the Parent

 

In order to induce the
Company and the Stockholders to enter into this Agreement and to induce the Stockholders to exchange their Company Stock for the
Shares, the Parent hereby makes the following representations and warranties to the Company and the Stockholders:

 

SECTION
4.01.       Organization, Good Standing and Power. Parent is a corporation duly
incorporated, validly existing and in good standing under the laws of the State of Nevada and has the requisite corporate power
to own, lease and operate its properties and assets and to conduct its business as it is now being conducted. Parent does not have
any Subsidiaries or own securities of any kind in any other entity. Prior to giving effect to the Transactions, Parent is not duly
qualified as a foreign corporation to do business in any jurisdiction and such failure to be so qualified does not have a Material
Adverse Effect.

 

SECTION
4.02.       Subsidiaries. Prior to giving effect to the Transactions, the Parent
has no Subsidiaries.

 

SECTION
4.03.       Capitalization. The authorized capital stock of Parent consists of
(i) One Hundred Million (100,000,000) shares of Common Stock, par value $0.00001 per share, and (ii) One Hundred Million (100,000,000)
shares of Preferred Stock, par value $0.00001 per share. The Parent has 7,930,945 shares of Common Stock issued and outstanding
together with 49,569,055 shares of Common Stock held in treasury as of the date of this Agreement. The Parent Stock to be issued
to the Stockholders pursuant to this Agreement, when issued hereunder, will be duly and validly authorized and are validly issued,
fully paid and non-assessable. No shares of Parent Stock (including, but not limited to the shares of Parent Stock to be issued
to the Stockholders pursuant to this Agreement) or any other security of Parent are entitled to preemptive rights or registration
rights and, except for this Agreement, there are no outstanding options, warrants, scrip, rights to subscribe to, call or commitments
of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of Parent. Except
as provided on Schedule 4.03 hereto, there are no contracts, commitments, understandings, or arrangements by which Parent
is or may become bound to issue additional shares of the capital stock of Parent or options, securities or rights convertible
into shares of capital stock of Parent. Except as provided in this Agreement, Parent is not a party to or bound by any agreement
or understanding granting registration or anti-dilution rights to any person with respect to any of its equity or debt securities.
Parent is not a party to, and it has no knowledge of, any agreement or understanding restricting the voting or transfer of any
shares of the capital stock of Parent. Parent has furnished or made available to the Stockholders and the Company true and correct
copies of Parent’s Articles of Incorporation as in effect on the date hereof (the “Parent Charter”),
and Parent’s Bylaws as in effect on the date hereof (the “Parent Bylaws”).

 

    	11

    	 

    

SECTION
4.04.       Authority; Enforcement. Parent has the requisite corporate power and
authority to enter into and perform this Agreement and to issue and sell the Shares in accordance with the terms hereof. The execution,
delivery and performance of this Agreement by Parent and the consummation by Parent of the Transactions have been duly and validly
authorized by all necessary corporate action, and no further consent or authorization of Parent or its Board of Directors or stockholders
is required. This Agreement has been duly executed and delivered by Parent. This Agreement constitutes a valid and binding obligation
of Parent enforceable against Parent in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the
enforcement of, creditor’s rights and remedies or by equitable principles or remedies of general application

 

SECTION
4.05.       No Conflicts. The execution, delivery and performance of this Agreement
by Parent and the consummation by Parent of the Transactions do not and will not (i) violate any provision of the Parent Charter
or Parent Bylaws, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become
a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, mortgage,
deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which Parent is a party or by which
Parent’s properties or assets are bound, (iii) create or impose any Liens on any property or asset of Parent under any agreement
or any commitment to which Parent is a party or by which Parent is bound or by which any of its properties or assets are bound,
or (iv) result in a violation of any result in a violation of any federal, state, local or foreign statute, rule, regulation, order,
judgment or decree (including U.S. federal and state securities laws and regulations) applicable to the Parent or by which any
property or asset of the Parent is bound or affected, except, in the case of (i) above and in all cases other than violations pursuant
to clause (iv) (with respect to U.S. federal and state securities laws) above, for such conflicts, defaults, terminations, amendments,
acceleration, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse Effect. The
business of Parent is not being conducted in violation of any Laws, except for possible violations, which singularly or in the
aggregate, do not and will not have a Material Adverse Effect. Parent is not required under federal, state, foreign or local law,
rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any Governmental
Entity in order for it to execute, deliver or perform any of its obligations under this Agreement or issue and sell the Shares,
in accordance with the terms hereof (other than any filings which may be required to be made by Parent with the Commission or state
securities administrators subsequent to the Closing, or any registration statement which may be filed by the Parent).

 

SECTION
4.06.       Commission Documents; Commission Filings; Financial Statements. The
Parent Stock is registered pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). The Parent has timely filed all reports, schedules, forms, statements and other documents required to be filed
by it with the Commission pursuant to the reporting requirements of the Exchange Act, including material filed pursuant to Section
13(a) or 15(d) of the Exchange Act.

 

    	12

    	 

    

SECTION
4.07.       Issuance of Securities. The Shares to be issued at the Closing have
been duly authorized by all necessary corporate action and, when issued in accordance with the terms hereof, the Shares shall be
validly issued and outstanding, fully paid and nonassessable and free and clear of all Liens and the holders shall be entitled
to all rights accorded to a holder of Parent Stock.

 

SECTION
4.08.       Absence of Certain Developments. Except as set forth on Schedule
4.08 hereto, since September 30, 2013 (the date of formation of the Parent), the Parent has not:

 

(a)       issued
any stock, bonds or other corporate securities or any rights, options or warrants with respect thereto;

 

(b)       borrowed
any amount or incurred or become subject to any liabilities (absolute or contingent) except current liabilities incurred in the
ordinary course of business which are comparable in nature and amount to the current liabilities incurred in the ordinary course
of business during the comparable portion of its prior fiscal year, as adjusted to reflect the current nature and volume of Parent’s
business;

 

(c)       discharged
or satisfied any material lien or encumbrance or paid a material amount of any obligation or liability (absolute or contingent),
other than current liabilities paid in the ordinary course of business;

 

(d)       declared
or made any payment or distribution of cash or other property to stockholders with respect to its stock, or purchased or redeemed,
or made any agreements so to purchase or redeem, any shares of its capital stock;

 

(e)       sold,
assigned or transferred any other tangible assets, or canceled any debts or claims, except in the ordinary course of business;

 

(f)       sold,
assigned or transferred any patent rights, trademarks, trade names, copyrights, trade secrets or other intangible assets or intellectual
property rights, which sale, assignment or transfer has had a Material Adverse Effect, or disclosed any proprietary confidential
information to any person except in the ordinary course of business or to the Purchasers or their representatives;

 

(g)       suffered
any substantial losses or waived any rights of material value, whether or not in the ordinary course of business, or suffered the
loss of any material amount of prospective business;

 

(h)       made
any changes in employee compensation except in the ordinary course of business and consistent with past practices;

 

(i)       made
capital expenditures or commitments therefor that aggregate in excess of $25,000;

 

    	13

    	 

    

(j)       entered
into any other transaction other than in the ordinary course of business, or entered into any other material transaction, whether
or not in the ordinary course of business;

 

(k)       suffered
any material damage, destruction or casualty loss, whether or not covered by insurance;

 

(l)       experienced
any material problems with labor or management in connection with the terms and conditions of their employment; or

 

(m)       entered
into an agreement, written or otherwise, to take any of the foregoing actions.

 

SECTION
4.09.       Taxes. As of the date of this Agreement, Parent has had no income
and (i) is not required to prepare and file any federal, state and other tax returns required by law to be filed by corporations
and/or (ii) pay or make provisions for the payment of any taxes or assessments. Parent has no knowledge of any additional assessments,
adjustments or contingent tax liability (whether federal or state) of any nature whatsoever, whether pending or threatened against
Parent for any period, nor of any basis for any such assessment, adjustment or contingency.

 

SECTION
4.10.       Employees. Parent has no employees.

 

SECTION
4.11.       ERISA. No liability to the Pension Benefit Guaranty Corporation has
been incurred with respect to any Plan by the Parent which is or would cause a Material Adverse Effect. The execution and delivery
of this Agreement and the issue and sale of the Shares will not involve any transaction which is subject to the prohibitions of
Section 406 of ERISA or in connection with which a tax could be imposed pursuant to Section 4975 of the Internal Revenue Code of
1986, as amended (the “Code”); provided that, if any Stockholder, or any person or entity that owns a beneficial
interest in any Stockholder, is an “employee pension benefit plan” (within the meaning of Section 3(2) of ERISA) with
respect to which Parent is a “party in interest” (within the meaning of Section 3(14) of ERISA), the requirements of
Sections 407(d)(5) and 408(e) of ERISA, if applicable, are met. As used in this Section 4.11, the term “Plan”
shall mean an “employee pension benefit plan” (as defined in Section 3 of ERISA) which is or has been established or
maintained, or to which contributions are or have been made, by Parent or by any trade or business, whether or not incorporated,
which, together with Parent or any Subsidiary, is under common control, as described in Section 414(b) or (c) of the Code.

 

SECTION
4.12.       Litigation. There is no action, suit, claim, investigation, arbitration,
alternate dispute resolution proceeding or other proceeding pending or, to the knowledge of the Parent, threatened against the
Parent which questions the validity of this Agreement or any of the Transactions or any action taken or to be taken pursuant hereto.
There is no action, suit, claim, investigation, arbitration, alternate dispute resolution proceeding or other proceeding pending
or, to the knowledge of the Parent, threatened against or involving the Parent or any of its properties or assets, which individually
or in the aggregate, would have a Material Adverse Effect. There are no outstanding orders, judgments, injunctions, awards or decrees
of any court, arbitrator or governmental or regulatory body against the Parent or any officers or directors of the Parent in their
capacities as such, which, individually or in the aggregate, would have a Material Adverse Effect.

 

    	14

    	 

    

SECTION
4.13.       Compliance with Law. The business of the Parent has been and is presently
being conducted in accordance with all applicable federal, state and local governmental laws, rules, regulations and ordinances,
except as set forth in Schedule 4.13 or such that, individually or in the aggregate, the noncompliance therewith would not
have a Material Adverse Effect. The Parent has all franchises, permits, licenses, consents and other governmental or regulatory
authorizations and approvals necessary for the conduct of its business as now being conducted by it unless the failure to possess
such franchises, permits, licenses, consents and other governmental or regulatory authorizations and approvals, individually or
in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

SECTION
4.14.       Contracts. Except for this Agreement, the Parent is not a party to
any written or oral contract, instrument, agreement, commitment, obligation, plan or arrangement.

 

SECTION
4.15.       Title to Assets. The Parent does not own or lease any real and/or
personal property.

 

SECTION
4.16.       Intellectual Property. The Parent does not own or license any patents,
trademarks, domain names (whether or not registered) and any patentable improvements or copyrightable derivative works thereof,
websites and intellectual property rights relating thereto, service marks, trade names, copyrights, licenses and authorizations,
and all rights with respect to the foregoing held by Parent.

 

SECTION
4.17.       No Material Adverse Change. Since September 30, 2013, no event has
occurred which has or could reasonably be expected to have a Material Adverse Effect.

 

SECTION
4.18.       No Undisclosed Liabilities. The Parent has no liabilities, obligations,
claims or losses (whether liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) other than
those incurred in the ordinary course of the Parent’s business since September 30, 2013, and which, individually or in the
aggregate, do not or would not have a Material Adverse Effect on Parent.

 

SECTION
4.19.       Transactions With Affiliates. Except for this Agreement, there are
no loans, leases, agreements, contracts, royalty agreements, management contracts or arrangements or other continuing transactions
between (i) the Parent or any of its customers or suppliers, on the one hand, and (ii) on the other hand, any officer, employee,
consultant or director of the Parent, or any person owning any capital stock of the Parent or any member of the immediate family
of such officer, employee, consultant, director or stockholder or any corporation or other entity controlled by such officer, employee,
consultant, director or stockholder.

 

SECTION
4.20.       Books and Records; Internal Accounting Controls. The books, records
and documents of the Parent accurately reflect in all material respects the information relating to the business of the Parent,
the location and collection of its assets, and the nature of all transactions giving rise to the obligations or accounts receivable
of the Parent.

 

    	15

    	 

    

SECTION
4.21.       No Undisclosed Events or Circumstances. Since September 30, 2013,
except as disclosed on Schedule 4.21 hereto, no event or circumstance has occurred or exists with respect to the Parent
or its business, properties, prospects, operations or financial condition, which, under applicable law, rule or regulation, requires
public disclosure or announcement by the Parent but which has not been so publicly announced or disclosed.

 

SECTION
4.22.       Governmental Approvals. Except for the filing of any notice prior
or subsequent to the Closing that may be required under applicable state and/or federal securities laws (which if required, shall
be filed on a timely basis), no authorization, consent, approval, license, exemption of, filing or registration with any court
or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, is or will be necessary
for, or in connection with, the Transactions, or, except as set forth in this Agreement, for the performance by the Parent of its
obligations under this Agreement.

 

SECTION
4.23.       Indebtedness. The Parent has no secured or unsecured Indebtedness,
and has no Indebtedness for which the Parent has commitments.

 

SECTION
4.24.       Public Utility Holding Company Act and Investment Company Act Status.
The Parent is not a “holding company” or a “public utility company” as such terms are defined in the Public
Utility Holding Company Act of 1935, as amended. The Parent is not, and as a result of and immediately upon Closing and after giving
effect to the Transactions will not be, an “investment company” or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended.

 

SECTION
4.25.       Disclosure. To the best of the Parent’s knowledge, neither this
Agreement nor any other documents, certificates or instruments furnished to the Company or the Stockholders by or on behalf of
the Parent in connection with the Transactions and this Agreement contains any untrue statement of a material fact or omits to
state a material fact necessary in order to make the statements made herein or therein, in the light of the circumstances under
which they were made herein or therein, not misleading.

 

SECTION
4.26.       Certain Fees. The Parent has not employed any broker or finder or
incurred any liability for any brokerage or investment banking fees, commissions, finders’ structuring fees, financial advisory
fees or other similar fees in connection with the Transactions or this Agreement.

 

SECTION
4.27.       Securities Act of 1933. Assuming the accuracy and completeness of
the representations, warranties and covenants of the Stockholders contained herein, the Parent has complied and will comply with
all applicable federal and state securities laws in connection with the offer, issuance and sale of the Shares hereunder and no
registration under the Securities Act is required for the offer and sale of the Shares by the Parent to the Stockholders under
this Agreement. Neither Parent nor anyone acting on its behalf, directly or indirectly, has or will sell, offer to sell or solicit
offers to buy any of the Shares, or similar securities to, or solicit offers with respect thereto from, or enter into any preliminary
conversations or negotiations relating thereto with, any person, or has taken or will take any action so as to require registration
of the issuance and sale of any of the Shares under the registration provisions of the Securities Act and applicable state securities
laws. Neither Parent nor any of its affiliates, nor any person acting on its or their behalf, has engaged in any form of general
solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with the offer
or sale of any of the Shares. The Parent is eligible to register the Parent
Stock for resale by any holder thereof (including, but not limited to, the Stockholders) under Form S-1 promulgated under the Securities
Act. Except as set forth on Schedule 4.27 hereto, the Parent has not granted or agreed to grant to any person any rights
(including “piggy-back” registration rights) to have any securities of the Parent registered with the Commission or
any other governmental authority that have not been satisfied.

 

    	16

    	 

    

SECTION
4.28.       Application of Takeover Protections.
The Parent has taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination,
poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Parent's Charter
(or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the Stockholders
as a result of the Stockholders and the Parent fulfilling their obligations or exercising their rights under this Agreement, including,
without limitation, the Parent's issuance of the Shares and the Stockholders’ ownership of the Shares.

 

SECTION
4.29.       No Additional Agreements. The Parent
does not have any agreement or understanding with any Stockholder with respect to the transactions contemplated by this Agreement
other than as specified in this Agreement.

 

ARTICLE
V

Deliveries

 

SECTION
5.01.       Deliveries of the Stockholders.

 

(a)       Concurrently
herewith each Stockholder is delivering to the Parent this Agreement executed by such Stockholder along with the Schedules to the
representations and warranties of the Stockholders.

 

(b)       At
or prior to the Closing, each Stockholder shall deliver to the Parent (subject to the provisions of Section 6.01) appropriate documentation
for transfer by the Stockholders of its Company Stock to the Parent.

 

SECTION
5.02.       Deliveries of the Parent.

 

(a)       Concurrently
herewith, the Parent is delivering:

 

(i)       to
each Stockholder and to the Company, a copy of this Agreement executed by the Parent along with the Schedules to the representations
and warranties of the Parent;

 

(ii)       to
the Company, a certificate from the Parent, signed by its Secretary or Assistant Secretary certifying that the attached copies
of the Parent Charter, Parent Bylaws and resolutions of the Board of Directors and stockholders of the Parent approving the Agreement
and the Transactions are all true, complete and correct and remain in full force and effect;

 

    	17

    	 

    

(iii)       to
the Company, an opinion of counsel to the Parent and substantially in the form attached hereto as Exhibit B;

 

(iv)       to
the Company, all books and records of the Parent.

 

(b)       At
or immediately after the Closing, the Parent shall deliver (subject to the provisions of Section 6.02):

 

(i)       to
each Stockholder, certificates representing the Shares issued to such Stockholder as set forth on Exhibit A.

 

SECTION
5.03.       Deliveries of the Company.

 

(a)       Concurrently
herewith, the Company is delivering to the Parent:

 

(i)       this
Agreement executed by Company along with the Schedules to the representations and warranties of the Company; and

 

(ii)       a
certificate from the Company, signed by its authorized officer certifying that the attached copies (in English) of the Company’s
Articles of Incorporation and Bylaws and resolutions of the Board of Directors of the Company approving this Agreement and the
Transactions are all true, complete and correct and remain in full force and effect; and

 

(iii)       ASIC
Report.

 

ARTICLE VI

 

Conditions to Closing

 

SECTION
6.01.       Stockholders and the Company Conditions Precedent. The obligations
of the Stockholders and the Company to enter into and complete the Closing is subject, at the option of the Stockholders and the
Company, to the fulfillment on or prior to the Closing Date of the following conditions:

 

(a)       Representations
and Covenants. The representations and warranties of the Parent contained in this Agreement shall be true in all material respects
on and as of the Closing Date with the same force and effect as though made on and as of the Closing Date. The Parent shall have
performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or
complied with by the Parent on or prior to the Closing Date. The Parent shall have delivered to the Company, if requested, a certificate,
dated the Closing Date, to the foregoing effect.

 

(b)       Litigation.
No action, suit or proceeding shall have been instituted before any court or governmental or regulatory body or instituted or threatened
by any governmental or regulatory body to restrain, modify or prevent the carrying out of the Transactions or to seek damages or
a discovery order in connection with such Transactions, or which has or may have, in the reasonable opinion of the Company, a materially
adverse effect on the assets, properties, business, operations or condition (financial or otherwise) of the Parent.

 

    	18

    	 

    

 

(c)       No
Material Adverse Change. There shall not have been any occurrence, event, incident, action, failure to act, or transaction
since September 30, 2013 which has had or is reasonably likely to cause a Material Adverse Effect with respect to the Parent.

 

(d)       Post-Closing
Capitalization. At, and immediately after, the Closing, the authorized capitalization, and the number of issued and outstanding
shares of the capital stock of the Company and the Parent, on a fully-diluted basis, shall be as specified in Schedule 6.01(d).

 

(e)       Deliveries.
The deliveries specified in Section 5.02 shall have been made by the Parent.

 

SECTION
6.02.       Parent Conditions Precedent. The obligations of the Parent to enter
into and complete the Closing is subject, at the option of the Parent, to the fulfillment on or prior to the Closing Date of the
following conditions, any one or more of which may be waived by the Parent in writing.

 

(a)       Representations
and Covenants. The representations and warranties of the Stockholders and the Company contained in this Agreement shall be
true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing
Date. The Stockholders and the Company shall have performed and complied in all material respects with all covenants and agreements
required by this Agreement to be performed or complied with by the Stockholders and the Company on or prior to the Closing Date.
The Company shall have delivered to the Parent, if requested, a certificate, dated the Closing Date, to the foregoing effect.

 

(b)       Litigation.
No action, suit or proceeding shall have been instituted before any court or governmental or regulatory body or instituted or threatened
by any governmental or regulatory body to restrain, modify or prevent the carrying out of the Transactions or to seek damages or
a discovery order in connection with such Transactions, or which has or may have, in the reasonable opinion of the Parent, a materially
adverse effect on the assets, properties, business, operations or condition (financial or otherwise) of the Company.

 

(c)       No
Material Adverse Change. There shall not have been any occurrence, event, incident, action, failure to act, or transaction
since September 30, 2013 which has had or is reasonably likely to cause a Material Adverse Effect with respect to the Company and/or
the Company Stock.

 

(d)       Deliveries.
The deliveries specified in Section 5.01 and Section 5.03 shall have been made by the Stockholders and the Company, respectively.

 

  

    	19

    	 

    

 

(e)       Post-Closing
Capitalization. At, and immediately after, the Closing, the authorized capitalization, and the number of issued and outstanding
shares of the capital stock of the Company and the Parent, on a fully-diluted basis, shall be as specified in Schedule 6.01(d).

 

ARTICLE VII

 

Covenants

 

SECTION
7.01.       [Intentionally omitted]

 

SECTION
7.02.       Public Announcements. The Parent and the Company will consult with
each other before issuing, and provide each other the opportunity to review and comment upon, any press release or other public
statements with respect to the Agreement and the Transactions and shall not issue any such press release or make any such public
statement prior to such consultation, except as may be required by applicable Law, court process or by obligations pursuant to
any listing agreement with any national securities exchange.

 

SECTION
7.03.       Fees and Expenses. All fees and expenses incurred in connection with
this Agreement shall be paid by the party incurring such fees or expenses, whether or not this Agreement is consummated.

 

SECTION
7.04.       Continued Efforts. Each party hereto shall use commercially reasonable
efforts to (a) take all action reasonably necessary to consummate the Transactions, and (b) take such steps and do such
acts as may be necessary to keep all of its representations and warranties true and correct as of the Closing Date with the same
effect as if the same had been made, and this Agreement had been dated, as of the Closing Date.

 

SECTION
7.05.       Conduct of Business.  During the period from the date hereof
through the Closing Date, the Parent and the Company shall carry on their respective businesses in the ordinary and usual course
consistent with past practice.

 

SECTION
7.06.       Furnishing of Information. As long as any Stockholder owns any Shares
and is not eligible to sell any Shares under Rule 144(b) promulgated under the Securities Act, the Parent covenants to use its
reasonable best efforts to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all
reports that the Parent will be required to file pursuant to the Exchange Act. As long as any Stockholder owns Shares and is not
eligible to sell any Shares under Rule 144(b), if the Parent is not required to file reports pursuant to such laws, it will prepare
and furnish to the Stockholders and make publicly available in accordance with Rule 144(c) promulgated by the Commission pursuant
to the Securities Act, such information as is required for the Stockholders to sell the Shares under Rule 144. The Parent further
covenants that it will take such further action as any holder of Shares may reasonably request, all to the extent required from
time to time to enable such person to sell the Shares without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144.

 

    	20

    	 

    

SECTION
7.07.       Integration. The Company shall not, and shall use its best efforts
to ensure that no affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect
of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares in
a manner that would require the registration under the Securities Act of the acquisition of the Shares by the Stockholders pursuant
to the Agreement, or that would be integrated with the offer or sale of the Shares for purposes of the rules and regulations of
any trading market in a manner that would require stockholder approval of the sale of the securities to the Stockholders.

 

SECTION
7.08.       Listing of Parent Stock. The Parent agrees that (i) if the Parent
applies to have Parent Stock listed for trading on any exchange or any market operated by NASDAQ, the Parent will include in such
application the Shares, and will take such other action as is necessary or desirable to cause the Shares to be listed on such exchange
or NASDAQ market or be eligible for such quotation, in each case as promptly as possible, and (ii) the Parent will take all action
reasonably necessary to continue the listing and trading of Parent Stock on any such exchange or NASDAQ market or continue the
eligibility for quotation and will comply in all material respects with the Parent’s reporting, filing and other obligations
under the bylaws or rules of the trading market or OTC Bulletin Board, as the case may be.

 

ARTICLE VIII

 

Miscellaneous

 

SECTION
8.01.       Notices. All notices, requests, claims, demands and other communications
under this Agreement shall be in writing and shall be deemed given upon receipt by the parties at the following addresses (or at
such other address for a party as shall be specified by like notice):

 

If to the Parent, to:

 

Banjo & Matilda,
Inc.

c/o Fox Law Offices,
P.A.

561 NE Zebrina Senda

Jensen Beach, FL 34957

 

 

If to the Company, to:

 

Banjo & Matilda
Pty Ltd.

76 William Street

Paddington, New South
Wales, Australia 2021

P.O. Box 3438 Tamarama,
New South Wales, Australia 2026

Attn: Brendan Macpherson,
CEO

 

 

If to the Stockholders
or the Company, to:

 

Banjo & Matilda
Pty Ltd.

76 William Street

Paddington, New South
Wales, Australia 2021

P.O. Box 3438 Tamarama,
New South Wales, Australia 2026

Attn: Brendan
Macpherson, CEO 

 

 

    	21

    	 

    

SECTION
8.02.       Amendments; Waivers; No Additional Consideration. No provision of
this Agreement may be waived or amended except in a written instrument signed by the Company, the Parent and the Stockholders holding
a majority of the Shares. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall
be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition
or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the
exercise of any such right. No consideration shall be offered or paid to any Stockholder to amend or consent to a waiver or modification
of any provision of any transaction document unless the same consideration is also offered to all Stockholders who then hold Shares.

 

SECTION
8.03.       Replacement of Shares. If any certificate or instrument evidencing
any Shares is mutilated, lost, stolen or destroyed, the Parent shall issue or cause to be issued in exchange and substitution for
and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt
of evidence reasonably satisfactory to the Parent of such loss, theft or destruction and customary and reasonable indemnity, if
requested. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party
costs associated with the issuance of such replacement Shares. If a replacement certificate or instrument evidencing any Shares
is requested due to a mutilation thereof, the Parent may require delivery of such mutilated certificate or instrument as a condition
precedent to any issuance of a replacement.

 

SECTION
8.04.       Remedies. In addition to being entitled to exercise all rights provided
herein or granted by law, including recovery of damages, each of the Stockholders, the Parent and the Company will be entitled
to specific performance under this Agreement. The parties agree that monetary damages may not be adequate compensation for any
loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agrees to waive in any action
for specific performance of any such obligation the defense that a remedy at law would be adequate.

 

SECTION
8.05.       Independent Nature of Stockholders' Obligations and Rights. The obligations
of each Stockholder under this Agreement are several and not joint with the obligations of any other Stockholder, and no Stockholder
shall be responsible in any way for the performance of the obligations of any other Stockholder under this Agreement. The decision
of each Stockholder to acquire Shares pursuant to this Agreement has been made by such Stockholder independently of any other Stockholder.
Nothing contained herein, and no action taken by any Stockholder pursuant thereto, shall be deemed to constitute the Stockholders
as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Stockholders are
in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein. Each Stockholders
acknowledges that no other Stockholder has acted as agent for such Stockholder in connection with making its investment hereunder
and that no Stockholder will be acting as agent of such Stockholder in connection with monitoring its investment in the Shares
or enforcing its rights under this Agreement. Each Stockholder shall be entitled to independently protect and enforce its rights,
including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Stockholder
to be joined as an additional party in any proceeding for such purpose. Each of the Company and the Parent acknowledge that each
of the Stockholders has been provided with this same Agreement for the purpose of closing a transaction with multiple Stockholders
and not because it was required or requested to do so by any Stockholder.

 

    	22

    	 

    

SECTION
8.06.       Limitation of Liability. Notwithstanding anything herein to the contrary,
each of the Parent and the Company acknowledge and agree that the liability of a Stockholder arising directly or indirectly, under
any transaction document of any and every nature whatsoever shall be satisfied solely out of the assets of such Stockholder, and
that no trustee, officer, other investment vehicle or any other affiliate of such Stockholder or any investor, shareholder or holder
of shares of beneficial interest of such Stockholder shall be personally liable for any liabilities of such Stockholder.

 

SECTION
8.07.       Interpretation. When a reference
is made in this Agreement to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever
the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed
to be followed by the words “without limitation”.

 

SECTION
8.08.       Severability. If any term or
other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Law, or public policy, all
other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or
legal substance of the Transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable
manner to the end that Transactions contemplated hereby are fulfilled to the extent possible.

 

SECTION
8.09.       Counterparts; Facsimile Execution.
This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall
become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. Facsimile
execution and delivery of this Agreement is legal, valid and binding for all purposes.

 

SECTION
8.10.       Entire Agreement; Third Party Beneficiaries.
This Agreement (a) constitutes the entire agreement, and supersedes all prior agreements and understandings, both written and oral,
among the parties with respect to the Transactions and (b) is not intended to confer upon any person other than the parties any
rights or remedies.

 

SECTION
8.11.       Governing Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of Nevada, regardless of the laws that might otherwise
govern under applicable principles of conflicts of laws thereof.

 

    	23

    	 

    

SECTION
8.12.       Assignment. Neither this Agreement
nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law
or otherwise by any of the parties without the prior written consent of the other parties. Any purported assignment without such
consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be
enforceable by, the parties and their respective successors and assigns.

 

[Signatures appear on the next page]

 

 

    	24

    	 

    

 

       The
parties hereto have executed and delivered this Share Exchange Agreement as of the date first above written.

	The Parent:	BANJO & MATILDA, INC. 
	 	 
	 	By:      /s/Jared Robinson
	 	      Name:  Jared Robinson
	 	      Title:   Chief Executive Officer
	The Company:	BANJO & MATILDA PTY LTD
	 	 
	 	By:      /s/Belinda Storelli Machperson
	 	      Name:  Belinda Storelli Macpherson
	 	      Title:  Director
	The Stockholders:	 
	 	 
	 	/s/ Brendan Patrick Gow Macpherson
	 	Jibon Trust
	 	 
	 	 
	 	/s/ Raymond Key
	 	Raymond Key
	 	 
	 	 
	 	/s/ Michael Seligman
	 	Michael Seligman
	 	 
	 	 
	 	/s/Matthew Barrelle
	 	Matthew Barrelle
	 	 
	 	 
	 	/s/Gary Blom
	 	The Bent Trust

 

 

    	25

    	 

    

 

EXHIBIT A 

 

Stockholders of Banjo & Matilda Pty
Ltd.

 

 

 

	
         Name of Stockholder
	
         

        Address of Stockholder
	
         Number of Shares of

 Company
Stock Being

Exchanged
	Percentage of Total 

Company Stock 

Represented by Shares

 of Company Being

 Exchanged	
        Number of Shares of

 Parent
Stock to be 

Received by 

Stockholder

	Jibon Trust	PO Box 3438 Tamarama New South Wales 2026 Australia	55.15	66.64%	12,332,561
	Raymond Key	
        396 Ladies Mile Lane

        Lake Hayes, Queenstown, New Zealand 9304
	27.1	27.1%	5,014,852
	Michael Seligman	
        Den llp 28

        1127 P C, Den llp

        The Netherlands
	1.13	1.13%	208,952
	Matthew Barrelle	
        504, 44 bvd d’italie

        Monte Carlo, Monaco
	1.13	1.13%	208,952
	The Bent Trust	 	4	4%	740,222

 

 

    	 

    	 

    

 

 

EXHIBIT B 

 

Form of Opinion of Counsel to Parent

 

 

 

1.       The Parent is a
corporation duly incorporated, validly existing and in good standing under the laws of the State of Nevada and has the requisite
corporate power to own, lease and operate its properties and assets, and to carry on its business as presently conducted.

 

2.       The Parent has
the requisite corporate power and authority to enter into and perform its obligations under the Exchange Agreement, to consummate
the Transactions and to issue the Shares. The execution, delivery and performance of the Exchange Agreement by the Parent, the
consummation by it of the Transactions and the issuance of the Shares have been duly and validly authorized by all necessary corporate
action and no further consent or authorization of the Parent or its Board of Directors is required. The Exchange Agreement has
been duly executed and delivered, and the certificates representing the Shares have been duly executed, issued and delivered by
the Parent and the Exchange Agreement constitutes a legal, valid and binding obligation of the Parent enforceable against the Parent
in accordance with its terms. The Shares are not subject to any preemptive rights under the Parent Charter or the Parent Bylaws.

 

3.       The
Shares have been duly authorized and, when delivered against payment in full as provided in the Exchange Agreement, will be validly
issued, fully paid and nonassessable and free and clear of all liens, encumbrances and rights of first refusal of any kind
and the holders shall be entitled to all rights accorded to a holder of Parent Stock under applicable Nevada law.

 

4.       The execution,
delivery and performance of and compliance with the terms of the Exchange Agreement, the consummation of the Transactions and the
issuance of the Shares do not (a) violate any provision of the Parent Charter or Parent Bylaws, (b) conflict with, or constitute
a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of trust, indenture, note, bond,
license, lease agreement, instrument or obligation to which the Parent is a party and which is known to us, (c) create or impose
a lien, charge or encumbrance on any property of the Parent under any agreement or any commitment known to us to which the Parent
is a party or by which the Parent is bound or by which any of its respective properties or assets are bound, or (d) result in a
violation of any Federal, state, local or foreign statute, rule, regulation, order, judgment, injunction or decree (including Federal
and state securities laws and regulations) applicable to the Parent or by which any property or asset of the Parent is bound or
affected, except, in all cases other than violations pursuant to clauses (a) and (d) above, for such conflicts, default, terminations,
amendments, acceleration, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse
Effect.

 

5.No consent, approval
or authorization of or designation, declaration or filing with any governmental authority on the part of the Parent is required
under Federal, state or local law, rule or regulation in connection with the valid execution, delivery and performance of the Exchange
Agreement or the offer, sale or issuance of the Shares, other than filings as may be required by applicable Federal and state securities
laws and regulations.

 

6.To our knowledge,
there is no action, suit, claim, investigation or proceeding pending or threatened against the Parent which questions the validity
of the Exchange Agreement or the Transactions or any action taken or to be taken pursuant thereto. There is no action, suit, claim,
investigation or proceeding pending, or to our knowledge, threatened, against or involving the Parent or any of its properties
or assets and which, if adversely determined, is reasonably likely to result in a Material Adverse Effect. There are no outstanding
orders, judgments, injunctions, awards or decrees of any court, arbitrator or governmental or regulatory body against the Parent
or any officers or directors of the Parent in their capacities as such.Exhibit 10.2

 

 

    	 

    	 

    

 

 

    	 

    	 

    

 

THE REFERENCE SCHEDULE

 

 

	Lessor	Anastasios Andreou and Sevasti  Andreou
	Lessee:	Banjo & Matilda Pty Ltd (A.C.N. 137 355 769)
	Property
    Leased: 	76 William Street, Paddington

 

 

(The Items in this Reference
Schedule are referred to in the Clauses of this Lease).

 

ITEM 1 - RENT

(Clause 3.01)

The Lessee
shall pay to the Lessor the yearly rent of $57,200.00 plus GST by calendar monthly payments in advance of $4,766.67 plus
GST (subject to adjustments and reviews as herein provided) the first of such monthly payments to be made on the 1st November
2011 and thereafter on the 181 day of each month.

 

ITEM 2 - PUBLIC LIABILITY

(Clause 7.02)

The Lessee shall have in
effect in the joint names of the Lessor and the Lessee a Public Liability Policy in respect of the premises for not less than $10,000,000.00.

 

ITEM 3- USE

(Clause 2.02)

The Lessee shall not without
the written authority of the Lessors use or occupy the premises otherwise than as a Retail Clothing Shop.

 

ITEM 4- GUARANTORS

(Clause 10.01)

Not applicable.

 

ITEM 5 - BANK GUARANTEE

(Clause 4.01)

$15,730.00, being three
months rent (inclusive of GST)

 

ITEM 6 - SECURITY
BOND

(Clause 4.02)

Not applicable.

 

ITEM 7 - OPTION OF RENEWAL

(Clause 3.11)

15 October 2014 to 14 October
2017

 

ITEM 8A- OUTGOINGS

(Cause 4.06)

N/A. However the Lessee
is responsible to pay all utilities charges including but without limitation to telephone, gas, electricity and water usage as
indicated in clause 4.04 and 4.05.

 

ITEM 8B - PERCENTAGE
OF OUTGOINGS

(Clause 4.06)

N/A

 

    	Page 3 of 39

    	 

    

 

PART 1- EXCLUSION OF IMPLIED COVENANTS AND POWERS

 

Covenants and Powers:

 

1.01 The covenants, powers and provisions implied in Leases
by virtue of Sections 4, 84A and 85 of the Conveyancing Act 1919 (as amended) are hereby expressly negatived except in so far as
the same or some part or parts thereof are included in the covenants hereinafter contained.

 

PART 2 - USER

 

Business Hours, Staff and Stock:

 

	2.01		Where the Premises are retail premises they shall be kept open for business and adequately
staffed during normal trading hours applicable to such businesses provided that nothing herein contained shall require the Premises
to be open for business in excess of any maximum trading hours prescribed by law. Further the Lessee shall keep the Premises fully
stocked and shall operate the business in the Premises during the entire term of the Lease with due diligence and efficiency and
in a proper and businesslike manner.

 

Permitted Use:

 

	2.02		The Lessee shall not use or permit to be used the Premises or any part thereof for
any purpose other than as indicated in Item 3 of the Reference Schedule.

 

Lessees Obligations as User:

 

	2.03		The Lessee will not at any time during the continuance of this Lease:

 

	(a)		Use, exercise or carry on or permit or suffer to be used, exercised or carried on,
in or upon the Premises or any part thereof any noxious, noisome or offensive act, trade, business, occupation or calling.

 

	(b)		Do or omit or permit or suffer to be done or omitted any act matter of thing whatsoever
in, upon or about the Premises or the Building or any part thereof which is or shall or may be or grow to the annoyance, nuisance,
grievance, damage or disturbance of other Lessees or occupiers of the Building or persons otherwise lawfully therein or occupiers
or owners or any adjacent premises.

 

	(c)		Make any use of the Premises
whether for the Lessee's permitted use or otherwise, or permit any use to be made of the Premises, or to do or suffer to be done
on the Premises anything including, but without limiting the generality of the following, the installation or use of any machinery
or the employment of any person, whereby or by reason whereof any public or statutory authority may  give
or issue or be entitled to give or issue any notice requiring structural alterations or repairs to be made or to be carried out
to the Premises or to the whole or any part of the Building.

 

    	Page 4 of 39

    	 

    

 

Occupational Health and Safety Act:

 

	2.04		The Lessee shall comply with the Occupational Health &
Safety Act 2000 (as amended) and any other legislation or the requirements of any relevant authority relating to health
or safety of persons in respect of the use of the Premises during the continuance of this Lease.

 

Display:

 

	2.05		Where the Premises are retail premises the Lessee shall maintain at all times displays
of merchandise in the display window (if any) having regard to the nature of the business
being carried on and, unless prevented by causes beyond its control, shall keep such display windows and signs (if any) well lit
during trading hours or during such further hours as the Lessor may reasonably require.

 

Storage:

 

	2.06		Where the premises are retail premises, the Lessee shall store and/or stock in the
Premises only such goods, wares and merchandise as it intends to offer for sale by retail at in from or upon the Premises or as
are necessary to supply services for customers. The Lessee shall use for offices, clerical or other non-selling purposes only
such space in the Premises as is from time to time reasonably required for the Lessee's business in the Premises.

 

Fitting Out:

 

	2.07		The Lessee shall at its own expense fit out the Premises as approved by the Lessor
with the equipment, fittings and fixtures necessary for the business of the Lessee and will keep such equipment, fittings and
fixtures in good repair and condition.

 

	2.07A(i)		Notwithstanding anything contained herein, the Lessee must not make any alterations
or additions to the Premises or any fixtures or fittings therein ("the tenancy work") without the prior consent of the
Lessor whose consent may be withheld in its absolute discretion in the case of alterations to the Premises but shall
not be unreasonably withheld in the case of alterations to fixtures or fittings PROVIDED THAT all the tenancy works if
consented must be carried out strictly in accordance with the provisions of this clause in a proper and workmanlike manner to
the satisfaction of the Lessor by builders, tradesmen, contractors or others approved by the Lessor whose approval will not be
unreasonably withheld and in conformity with any other requirements of relevant authorities.

 

	(ii)		The Lessee must ensure that any works it does, including tenancy works, are done:

 

	(a)		by builders, tradesmen, contractors or any other persons approved by the Lessor; and

 

    	Page 5 of 39

    	 

    

 

 

	(b)		in a proper workmanlike manner; and

 

	(c)		in accordance with any plans, specifications and schedule of finishes required and
approved by the Lessor; and

 

	(d)		in accordance with all laws and the requirements of authorities; and

 

	(e)		in accordance with the Lessor's reasonable requirements and directions.

 

	(iii)		Any tenancy works undertaken by the Lessee shall be at the sole risk in all respects
of the Lessee.

 

	(iv)		The Lessee must take out an insurance policy covering any tenancy works it does and
must comply with the provisions of that insurance. The Lessee must produce to the
Lessor, upon request, the policy and the receipt for the premium.

 

No Warranty as to Use:

 

	2.08		No warranty is given by the Lessor that the permitted use is authorised by the relevant
authorities and the Lessee will obtain at its expense from the relevant authorities. All consents,
licenses and approvals requisite for its permitted use of the Premises. Any work to the Premises required by any relevant authority
as a condition of such use shall be carried out by the Lessee at its own cost after obtaining the approval of the
Lessor which approval shall not be unreasonably withheld.

 

No Vending Machines:

 

	2.09		The Lessee shall not place or operate in or near the Premises any coin operated or
similar type of entertainment or vending machine without the prior consent in writing of the Lessor,.

 

No Auction Sales:

 

	2.10		The Lessee shall not in any circumstances hold any auction, fire or bankrupt sale
in. or about the Premises.

 

Licensed Premises:

 

	2.11		The Lessee shall not without the Lessor's written consent at any time apply for or
allow any application to be made for a license or licenses for the sale of beer, wine or spirits or similar intoxicating liquors
on the Premises or any part thereof and will not permit the Premises or any part thereof to be used for the carrying on therein
of the trade of a publican or licensed victualler or for the sale of beer, wine, spirits or similar intoxicating liquors or for
the purpose of a club or association where such liquor may be sold supplied
or received, stored or bought for consumption by members or any other person.

 

 

    	Page 6 of 39

    	 

    

 

PART 3 - RENT

 

Rent:

 

	3.01		The Lessee expressly agrees to make all payments due under this Lease (including those
for rent and outgoings) punctually on the date when each payment is due and shall not withhold or be entitled to withhold the
whole or part of any such payment by way of deduction, set off or counterclaim in respect of any claim for damages or for compensation
which the Lessee shall make or has made against the Lessor. The rent payable by the Lessee on and from the commencement date is
specified in Item 1 of the Reference Schedule.

 

Bankers Order:

 

	3.02		Where required by the Lessor, the Lessee shall upon execution of this Lease or at
such other time as requested by the Lessor deliver to the Lessor a fully completed and signed Bankers Order directing the Lessee's
bankers to periodically debit the Lessee's account with the rent payable pursuant to the terms of the Lease and to remit same
free of all costs and charges to the Lessor's bank account as notified by the Lessor, its Agents or its solicitors from time to
time. Such Bankers Order shall require the rent to be remitted so as to be credited to the Lessor's bank and account on or before
the due date for any payment of rent PROVIDED HOWEVER that the execution and
delivery of such Bankers Order shall not relieve the Lessee of its obligations to make any payments of rent hereunder in those
amounts and at those times as herein provided. PROVIDED FURTHER that upon any
review of rent during the term of the Lease or any holding over, the Lessee shall prior to the date following such review upon
which the reviewed rent becomes payable direct its bankers to pay the amount of the reviewed rent in the manner provided.

 

Rent Statement:

 

	3.03		A statement signed by the Lessor or the Lessors agent (or officer of the Lessor if
a Company) certifying the amount of the rent or of any other moneys payable by the Lessee hereunder shall be prima facie evidence
of the matters stated therein.

 

Re-entry or Surrender on Default:

 

	3.04		If the rent hereby reserved or any part thereof or any other moneys payable by the
Lessee hereunder shall at any time be in arrears and unpaid for twenty one (21) days after the same shall have become due (whether
any formal or legal demand therefore shall have been made or not) or if the Lessee shall at any time fail or neglect to perform
or observe any of the covenants, conditions or agreements herein contained and on its part to be performed or observed and such
default continues for twenty one (21) days after receiving written notice of such default or if the Lessee while the Premises
or any part thereof shall remain vested in it being a company shall enter into liquidation whether compulsory or voluntary (not
being a voluntary liquidation for the purpose of amalgamation or reconstruction) or be placed under official management or a receiver
or manager of any of its assets be appointed or if it shall permit any execution to be levied against any of its assets or enter
into a scheme or arrangement or composition for the benefit of its creditors or not being a company shall become bankrupt or assign
its estate or enter into a deed of arrangement for the benefit of its creditors, then and in such case it shall be lawful for
the Lessor or any person or persons duly authorised by it to re-enter the Premises or any part thereof in the name of the whole
and to hold and enjoy peaceably the Premises thenceforth as if these presents had not been made without prejudice to any right
of action or remedy of the Lessor in respect of the breach or non-observance of any of the covenants by the Lessee or the provisions
hereof.

 

    	Page 7 of 39

    	 

    

 

Interest on Moneys Overdue:

 

	3.05		Without prejudice to any other rights, powers and remedies of the Lessor under this
Lease, the Lessee will pay to the Lessor interest at the rate of eight (8%) per cent per annum calculated on a daily basis on
any moneys due but unpaid for seven (7) days by the Lessee to the Lessor on any rents, outgoings or charges whatsoever pursuant
to this Lease such interest to be computed from the due date of payment of the moneys in respect of which the interest is chargeable
until payment of such moneys in full and to be recoverable from the Lessee as if the same were overdue rent AND it is agreed by
and between all parties hereto that such interest is not a penalty but has been calculated as a sum sufficient to recoup to the
Lessor the losses it will suffer and the expenses (excluding legal costs) to which it will be put as a result of the failure by
the Lessee to comply with its obligations hereunder. The Lessee shall further pay the Lessor's legal costs of engaging its solicitors
to recover the said money and interest calculated on a solicitor/client basis. The payment and acceptance of such interest shall
not be construed as a waiver or acceptance or release of the breach involved in non-payment of the said moneys on the due date.

 

Lessee not to cause Rent Reduction:

 

	3.06		The Lessee must not without the approval of the Lessor in writing by any act, matter
or deed or by any failure or omission, impair, reduce or diminish directly or indirectly the rent under this Lease or impose or
cause or permit to be imposed on the Lessor any liability of the Lessee under or by virtue of this Lease.

 

Separate Suits:

 

	3.07		The Lessor may, without prejudice to any other power, right or remedy under this Lease
or at law, sue the Lessee for any rent or other moneys which may from time to time become due and owing by the Lessee to the Lessor
under or in connection with this Lease. In particular the Lessor may sue for any instalments
of rent or any part thereof as and when the same become due and by a separate suit or suits sue for any further sum or sums which
may be found to be due and owing by the Lessee to the Lessor. Neither the institution of each such suit nor the entering of judgment
herein bars the Lessor from bringing a separate or subsequent suit or suits for the balance of any rent or other moneys due to
the Lessor under this Lease.

 

    	Page 8 of 39

    	 

    

 

Exercise of the Lessor's Right of Re-entry:

 

	3.08		The exercise by the Lessor of the right of re-entry given to it hereunder shall in
no way be capable of conferring upon the Lessee a discharge of its obligations under this Part 3.

 

Rent Reviews:

 

	3.09		IT IS HEREBY AGREED AND DECLARED that:

 

	(a)		The Annual rent hereby reserved and the monthly instalment thereof shall be reviewed
yearly on the 15th day of October in each year of the said term and any option period or holding over period (the "review
date") the first review to be made on the 15th day of October 2012.

 

	(b)		The Yearly rent payable for the ensuing year on and from each review date shall be
the sum calculated in accordance with the following formula:

 

	New
    Rent	=
    	Base
    Rent 	X
    	New
    CPI
	 	 	 	 	Base CPI

 

	where for the purpose of this Clause:	 
	 	 
	"New Rent" means 	The yearly rent payable for the ensuing year from the date of each review.
	 	 
	"Base Rent" means 	The
    yearly rent payable for the first year of the term hereby granted.
	 	 
	"Base CPI" means 	The Consumer Price Index Number last published as at the COMMENCING DATE hereof.
	 	 
	"New CPI" means 	The Consumer Price Index Number last published as each Review Date.
	 	 
	"The Consumer Price	 
	Index Number" means 	The figure for Sydney of the Consumer Price Index (all groups) published by the Australian Commonwealth Bureau of Census and Statistics from time to time.

 

	(c)		PROVIDED THAT if during the currency of this Lease the Consumer Price Index Number
shall cease to be published, then this clause shall be read and construed as if the words “the figure for Sydney of the Consumer
Price Index (All Groups) published by the Australian Commonwealth Bureau of Census and Statistics” appearing in this Clause
were deleted and the following words were substituted therefore namely “the index or indices as in the opinion of the Actuary
of Westpac Banking Corporation will most nearly reflect changes in the prevailing levels of prices in Sydney” to the effect that the Consumer Price Index shall be deemed to be identical with
the index or indices calculated by the said Actuary as herein provided.

 

    	Page 9 of 39

    	 

    

 

	(d)		PROVIDED FURTHER THAT should there be no such Consumer Price Index Number current
at any Review Date then the rent hereby reserved and the monthly instalment thereof shall be altered on each subsequent Review
Date by such amount as shall be determined as a proper rent of the premises having regard to the current market rental value by
a specialist retail valuer nominated by the President of the Real Estate Institute of New South Wales or its successor on the
application of either party and

 

	(i)		any such determination when made shall be deemed to have been made by such Valuer
as an expert and not as an Arbitrator;

 

	(ii)		the costs of any such determination shall be paid by the Lessor and Lessee in equal
shares;

 

	(iii)		any change in the rent resulting therefrom shall take effect on and from the relevant
Review Date and be payable by the Lessee to the Lessor.

 

Goods and Services Tax:

 

	3.10		In this clause:

 

	(a)		"GST"
                                                                               means a goods and services tax under A
                                                                               New Tax System (Goods and Services Tax Imposition-Goods)
                                                                               Act (1999) as amended and
                                                                               related legislation.

 

	(b)		The rental referred to in Item 1 of the Reference Schedule is exclusive of GST.

 

	(c)		The Lessee must pay to the Lessor all GST payable by the Lessor under this Lease and
the Lessor must provide the Lessee with a tax invoice as required under A New Tax System (Goods and Services Tax Goods Act
(1999).

 

	(d)		The Lessee must pay the GST with the monthly payment of rent.

 

	(e)		Except in the case of manifest error, the amount of GST payable under this Lease as
notified by the Lessor shall be conclusive.

 

Option to Renew:

 

	3.11 (a)		The Lessor will on the written request of the Lessee, made not more than six
(6) months and not less than three (3) months before the expiration of this Lease, and provided that there shall not be at the
time of giving the aforesaid request any existing breach or non-observance of any -of the covenants or terms or conditions herein
contained or implied AND PROVIDED THAT all rent and other monies payable by the Lessee pursuant to this Lease shall have been
paid on or by the due date, grant to the Lessee a Lease of the premises (hereinafter referred to as "the New Lease") for a further term as set out in Item 7 containing like provisions
except for:

 

    	Page 10 of 39

    	 

    

 

	(i)		the commencement and termination dates;

	(ii)		Item 1 in
                                                                                the Reference Schedule shall be amended to reflect
                                                                                the new rental determined in accordance with sub-clause
                                                                                (b) hereof;

	(iii)		Item 5 of the Reference Schedule shall be amended by the deletion of the amount therein
contained and the insertion of the equivalent amount of three (3) months rental; and

	(iv)		Deletion of this clause 3.11 and 18.27;

 

AND FURTHER PROVIDED THAT the Lessee
will be obliged to lease the Premises pursuant to the aforesaid conditions for the new term upon it giving the aforesaid written
request to the Lessor.

 

	(b)		The annual rental payable by the Lessee on and from the date of 'the commencement
of the New Lease shall be a new rental (hereinafter referred to as "the New
Rental"). The Lessor or its agent shall notify the Lessee in writing of the New
Rental which shall be the then current market rental of the demised premises and should the Lessee not agree to the New Rental
so determined by the Lessor then such New Rental shall be the current market rental of the demised premises on the date from which
such New Rental would have been payable if the Lessee had agreed as aforesaid, as certified by a Certified Practising Valuer nominated
by the President for the time being of the Australian Property Institute Inc. (NSW Division), who shall act as an expert and not
as an arbitrator, with the cost of such determination being borne equally by the Lessor and the Lessee.

 

	(c)		The Valuer must determine the New Rental within one month of being appointed.

 

	(d)		In determining the New Rental, the Valuer must
determine the New Rental for the Premises as at the date of the commencement of the New Lease being the rent that would reasonably
be expected to be paid for the Premises, as between a willing lessor and a willing lessee in an arms length transaction (where
the parties are acting knowledgeably, prudently and without compulsion), determined on an effective rent basis having regard to
the following matters:

 

	(i)		the provisions of this Lease;

	(ii)		the rent that would reasonably be expected to be paid for the Premise if it was unoccupied
and offered for renting for such use or uses as may be permissible under the relevant local
government authorities planning codes for the area in which the Premises are located;

	(iii)		the. rent payable by the Lessee and the fact that the Lessee is or is not required
to pay outgoings under the Lease;

	(iv)		have regard to rates of rents and incentives payable for comparable premises in comparable
locations;

	(v)		consider the Premises as available for use for any purpose for which the Premises
may be used in accordance with this Lease and all relevant laws and local government authorities planning codes;

	(vi)		have regard for the fact that the Lease is a gross rent Lease;

 

    	Page 11 of 39

    	 

    

 

	(vii)		assume that all covenants on the part of the Lessee and the Lessor in the Lease have
been fully performed and observed on time

	(viii)		if the Premises have been damaged, destroyed or rendered inaccessible in whole or
part, assume that the have been reinstated or made accessible (as appropriate);

	(ix)		disregard:

 

	(A)		the value of any goodwill created by the Lessee's use or occupation of the Premises;

	(B)		any impaired condition of the Premises if that condition results from any work carried
out or not carried out by the Lessee or from any breach under this Lease by the Lessee; and

	(C)		Any sublease or other sub-tenancy agreement or occupational arrangement in respect
of any part of the Premises and any rental, fees or money payable under any of them.

 

PART 4 - SECURITY DEPOSIT AND CHARGES OTHER THAN
RENT

 

Bank Guarantee:

 

	4.01		The Lessee shall on the signing of this Lease deposit with the Lessor the sin specified
in Item 5 of the Reference Schedule (hereinafter called "the Security Deposit")
as security for the due and punctual observance and performance of the covenants obligations and provisions on the Lessee's part
contained herein. The Security Deposit shall be provided by way of an unconditional Bank Guarantee given by an Australian domiciled
Bank carrying on business in New South Wales.

 

Security Bond:

 

	4.02		The Lessee shall on the signing of this Lease deposit with the Lessor by way of the
cash or or unendorsed bank cheque the sum specified in Item 6 of the Reference Schedule
(hereinafter called "the Security Bond") as security for the due and punctual observance and performance of all the
covenants obligations and provisions on the Lessee's part contained herein.

 

Claim On Security Deposit or Security Bond:

 

	4.03		If at any time the Lessee fails to duly and punctually observe and perform all or
any of the covenants obligations and provisions on the Lessee's part contained in the Lease then the Lessor may at its discretion
at any time appropriate and apply so much of either part or the whole of either or both the Security Deposit and Security Bond
(hereinafter called the "Security") as may be necessary in the opinion of the Lessor to compensate the Lessor for loss
or damage sustained or suffered by the Lesson: by reason of such breach by the Lessee. Any such appropriation by the Lessor shall
not be deemed to and shall not operate to waive the Lessee's breach and shall not prejudice any other right of the Lessor arising
from such breach. Should the Security or any portion thereof be appropriated by the Lessor as aforesaid then the Lessee shall
within seven (7) days from the date of demand by the Lessor pay to the Lessor the . amount of the sum so appropriated in order
to reinstate the Security. Should the Lessee comply with all the said covenants obligations and provisions and duly and punctually
pay all of the rental reserved and all other sums payable by the Lessee to the Lessor herein, the Security less any sums appropriated
by the Lessor in accordance with this clause and not reinstated shall be refunded to the Lessee on the Lessees vacating of the
Premises on the expiration of the term or of any holding over period or upon the termination of this Lease. Further, the Lessor
shall be at liberty to pay the Security less any sums appropriated by the Lessor in accordance with this clause and not reinstated,
to any assignee or transferee of the Lessor's interest in the Premises in the event that such interest of the Lessor's is assigned
or transferred and thereupon the Lessor shall be discharged from all liability to the Lessee or any other person with respect
to the Security.

 

 

    	Page 12 of 39

    	 

    

 

Telephone, Electricity Charges etc.:

 

	4.04		The Lessee shall pay to the proper authorities all charges for telephones installed
in and electricity and gas consumed on the Premises and for all water usage and trade waste charges and if the Lessee shall make
default in the payment thereof it shall be optional for the Lessor to pay the same and in addition to the Lessor's other remedies
it shall be lawful for the Lessor to recover the amount so paid as if the same was overdue rent hereunder.

 

Electricity Charges for Lessee's Signs:

 

	4.05		If the Lessee has erected any illuminated sign
which is not connected to the Lessor's own meter the cost of electricity consumed by such sign shall be apportioned by the Lessor
and the Lessee shall pay the proportion attributable to such sign to the Lessor within fourteen (14)
days of demand by the Lessor together with any additional fee payable in respect of reading the meter.

 

Lessee to Pay Increases in Outgoings:

 

	4.06		In addition to the annual rent hereinbefore provided, the Lessee shall in respect
of each year or part of a year of the Lease reimburse and pay on demand and without any deduction whatsoever to the Lessor each
of the respective items of outgoings referred to in Item 8(a) of the Reference Schedule which are levied, assessed or charged
against the Lessor in respect of the demised premises in the amount equivalent to the percentage referred to in Item 8(b)
of the Reference Schedule.

 

    	Page 13 of 39

    	 

    

 

PART 5 – DESTRUCTION OR PARTIAL DESTRUCTION OF PREMISES

 

Fire, Flood etc.:

 

	5.01		If either the whole or any part of the Building
shall be resumed or compulsorily acquired by any competent authority or be destroyed or damaged by fire, flood, lightning, storm,
tempest or other disabling cause so as to render the Premises during the term substantially unfit for the use and occupation of
the Lessee or so as to deprive the Lessee of the substantial use of the same or so as to
render the rebuilding or reconstruction of the Building in its previous form impractical or undesirable in the opinion of the
Lessor then:

 

	(a)		This Lease may be terminated without compensation by either the Lessor or the Lessee
by notice in writing to the other PROVIDED ALWAYS that in the latter case the Lessor
shall have failed to rebuild or reinstate the Premises within a reasonable time after being requested so to do in writing by the
Lessee.

 

	(b)		Any such termination as aforesaid shall be without prejudice to the rights of either
party in respect of any antecedent breach matter or thing.

 

	(c)		Nothing herein contained or implied shall be deemed to impose any obligation upon
the Lessor to rebuild or reinstate or make fit for occupation the Premises.

 

	(d)		Upon the happening of any such damage or destruction as aforesaid the total yearly
rent hereby reserved or a proportionate part thereof according to the nature and extent of the damage sustained shall abate until
the Premises shall have been rebuilt or reinstated or made fit for the occupation and use of the Lessee or until the Lease shall
be terminated pursuant to the provisions of sub-clause (a) of this clause as the case may be.

 

	(e)		In the event of any dispute arising out of this
clause the same shall be referred to mediation under the provisions of the laws for the time being in force in the State of New
South Wales.

 

Notwithstanding anything in this clause
express or implied the Lessee shall have no such right of termination and rent shall not abate if the destruction or damage was
caused or contributed to by the Lessee or any clerk, servant, licensee, invitee, employee or agent of the Lessee.

 

PART 6 - ASSIGNMENT

 

Restriction on Assignment, Sub-letting etc.:

 

	6.01		The Lessee covenants not to assign this Lease except in accordance with the provisions
contained in this clause.

 

    	Page 14 of 39

    	 

    

 

Furnishing of Disclosure Statement

 

	6.02		If the Lessee desires to assign this Lease:

 

	(a)		The Lessee shall, before requesting the Lessor's consent, furnish the proposed assignee
with a copy of any disclosure statement given to the Lessee in respect of the Lease, together with details of any changes that
have occurred in respect of the information contained in that disclosure statement since it was given to the Lessee (being changes
of which the Lessee is aware or could reasonably be expected to be aware):

 

	(b)		If the Lessee cannot provide the proposed assignee with a copy of the disclosure statement,
the Lessee may request the Lessor to provide a copy of that disclosure statement, and if the Lessor is unable or unwilling to
provide that copy within 14 days after the request the Lessee need not comply with sub clause
6.02(a).

 

	(c)		The Lessee shall request the Lessor's consent to the assignment of this Lease in writing
and shall furnish with that request:

 

	(i)		information regarding the financial resources and financial standing and the business
experience and retailing skills of the proposed assignee;

 

	(ii)		particulars of the use of the Leased premises intended by the proposed assignee;

 

	(iii)		confirmation that the Lessee complied with sub-clause 6.02(a) of this Clause.

 

Lessors Enquiries

 

	6.03		The Lessor:

 

	(a)		Agrees to deal expeditiously with the Lessee's request for consent to assign this
Lease;

 

	(b)		Is entitled to require the Lessee to furnish to the Lessor:

 

	(i)		details of the Lessee's financial resources and retailing skills at the time of the
request for consent;

 

	(ii)		such further information as the Lessor may reasonably require concerning the financial
standing and business experience of the proposed assignee;

 

	(c)		Is entitled to withhold consent to the assignment of this Lease in any of the following
circumstances;

 

 

    	Page 15 of 39

    	 

    

 

	(i)		if the proposed assignee proposes to change the use to which the premises is put (unless
the Lessor consents to the change of use in accordance with the provisions of this Lease);

 

	(ii)		if the proposed assignee has financial resources and retailing skills that are inferior
to those of the Lessee;

 

	(iii)		if the Lessee has failed to comply with the provisions contained in this clause for
requesting and obtaining consent to the assignment.

 

Requirements of Lessee and Assignee

 

	6.04		For the purposes of the Lessee making a request and the Lessor considering that request
under this clause:

 

	(a)		The retailing skills of the assignee, if it is a corporation, include the retailing
skills of those of its directors who have actively participated in the assignee's business and intend to actively participate
in the business in the Leased premises;

 

	(b)		If the Lessor consents to a change of use by the assignee, the assignee's retail'
..1g skills for that use should be compared with the Lessee's retailing skills for the Lessee's use of the Leased premises.

 

Lessees and Assignees Obligations

 

6.05

 

	(a)		The Lessor may require the assignee to execute an instrument in which the assignee
will assume liability under the Lease for the residue of the Lease term.

 

	(b)		If the assignee is a corporation whose shares are not listed on an Australian Stock Exchange,
                                                                                                                    the Lessor may require as a condition of the Lessor's consent to the assignment that not less than two of its directors or
                                                                                                                    shareholders (chosen by the Lessor) execute personal guarantees in respect of the payment of rent and the observance and
                                                                                                                    performance of Lease covenants by the Assignee during me Lease term.

 

	(c)		The Lessee will pay the Lessor's reasonable legal and other expenses of investigating
the Lessee's application for consent and of preparing, executing, stamping and registering all the required instruments or dealings
and the costs of obtaining the mortgagee's consent.

 

Lessors Response

 

	6.06		If the Lessee has complied with the requirements of this clause, the Lessor shall
indicate, within 42 days after the Lessee shall have made its request under sub-clause 6.02(c) and furnished any further details
required under sub-clause 6.03(b) whether the Lessor consents or withholds consent. If the Lessor does not provide t. at indication
within 42 days, it shall be taken to have consented to the assignment, subject to the conditions in Clause 6.05.

 

 

    	Page 16 of 39

    	 

    

 

Deemed Assignment Where Lessee is a Company:

 

	6.07		Where the Lessee is a corporation the shares in which are not listed on any member
exchange of the Australian Associated Stock Exchanges and there is any alteration in the beneficial ownership of or issue of further
shares in the share capital of the Lessee which in the reasonable opinion of the Lessor alters the effective control of the Lessee
from the control thereof at the date of this Lease such change in control of the Lessee shall be deemed to be an assignment of
this Lease.

 

Assignment of Benefit of Lessee's Obligations:

 

	6.08		Subject to the provisions of Clauses 6.01 to 6.06 (inclusive), if the Lessor transfers
or assigns its interest in this Lease or the land or the reversion of the Lease, the Lessee will also be entitled to assign the
benefit of all obligations of the Lessee under this Lease and:

 

	(a)		Any bank guarantee which is then in place may be assigned to the transferee or assignee;

 

	(b)		The Lessee shall, if requested by the Lessor, at the expense of the Lessee either:

 

	(i)		enter into a deed with any transferee or assignee to protect that assignment; or

 

	(ii)		provide a replacement bank guarantee in the form acceptable to the Lessor in favour
of the transferee or assignee.

 

	(c)		The Security Deposit and/or the Security Bond (hereinafter called "the Security")
will be deemed to have been assigned to the assignee or transferee; and

 

	(d)		The owner of the reversion of this Lease at the expiry or termination of this Lease
or any renewal will be liable for the repayment of the Security, and the Lessor will have no personal liability to the Lessee
or to any assignee of the reversion for repayment of the Security whether that owner has or has not acquired control of the Security.

 

	6.09		Subletting, Parting with Possession etc.

The Lessee will not during the continuance of this Lease mortgage,
charge .or otherwise deal with the Lessee's interest in the premises, sublet or part with possession of or grant any license affecting
the premises without the Lessors written consent.

 

    	Page 17 of 39

    	 

    

 

PART 7 - INSURANCE

 

Plate Glass:

 

	7.01		The Lessee shall insure and keep insured in the name of the Lessee noting the interest
of the Lessor thereon and in such amount (not being less than the full insurable value) and against such risks as the Lessor may
reasonably require all plate glass, windows, doors, displays, showcases and other glass forming part of the Premises.

 

Public Liability:

 

	7.02		The Lessee shall effect and keep effected in the name of the Lessee noting the interest
of the Lessor thereon in respect of the Premises at all times during the continuance of this Lease a public liability policy in
such amount as may be reasonably required from time to time by the Lessor but in any event not less than the amount set out in
Item 2 of the Reference Schedule.

 

Stock and Fixtures:

 

	7.03		The Lessee will insure and keep insured during the continuance of this Lease the goods
if any comprising the Lessee's stock-in-trade and the Lessee's fixtures, fittings and exterior signs in or about the Premises
to the full insurable value thereof against such risks (including fire, damage and water)
as the Lessor may reasonably nominate in writing.

 

Workers Compensation:

 

	7.04		The Lessee will keep in force during the continuance of this Lease a policy of insurance
or indemnity for the full amount of his legal liability under the Workers' Compensation Act 1926 (as amended) to each person employed
by him in the business conducted in and from the Premises who is a "worker" within the meaning of the said Act.

 

Not to Increase Risk:

 

	7.05		The Lessee shall not bring to or do or suffer to be done or allow any act matter or
thing on the Premises or keep anything in the Premises whereby any fire or other insurances on the Building may be rendered void
or voidable (except with the approval in writing of the Lessor) or whereby the rate of fire or other insurance in respect of the
Building or any property therein may be increased or which may conflict with the laws or regulations relating to fires or any
insurance policy upon the Building or any property therein, or the regulations or ordinances of any public authority or the provisions
of any Statute for the time being in force.

 

Additional Premium:

 

	7.06		The Lessee will pay to the Lessor upon demand all additional premiums of insurance
on the Building and on any property therein on account of extra risk caused by the use to which the Premises are put by the Lessee
and the Lessee will comply promptly at the Lessee's expense with all the requirements of the insurer company in relation to the installation,
cleaning and maintenance of exhaust systems (if any) and other fire prevention equipment installed or as required by the insurance
company to be installed in the Premises due to the use of the Premises by the Lessee.

 

 

    	Page 18 of 39

    	 

    

 

 

Reputable Insurer:

 

	7.07		All policies of insurance required to be effected by the Lessee hereunder whether
in respect of the property or risk either by the Lessor or the Lessee shall be taken out . with a reputable insurance office or
company of sound financial standing approved by the Lessor which approval shall not be unreasonably withheld.

 

Evidence of Insurance:

 

	7.08		The Lessee shall whenever requested so to do by the Lessor produce to the Lessor the
insurance policies abovementioned and evidence of the currency thereof.

 

Compliance with Fire Regulations:

 

	7.09		The Lessee, at his cost, must comply with all insurance, sprinkler, security and fire
alarm regulations (and the requirements of all relevant authorities for the installation, maintenance and servicing of all fire
equipment) in respect of or arising from the Lessee's (or the Lessee's Sublessees or Licensee) particular use or occupation of
the Premises including fire blankets and fire extinguishers, and any reasonable request in writing made by the Lessor in respect
of such compliance. Provided further that where the Lessor has supplied fire equipment to the Premises and the Lessor is by Law
required to service it then the Lessor for himself and/or his agents shall have ''the right of access to the Premises for maintenance
and service of such equipment.

 

Compliance with Lessor's Safety Requirement:

 

	7.10		The Lessee must within ten (10) business days
of written demand pay to the Lessor the cost of any alteration to the sprinkler, security or fire alarm installations or for the
provision of additional fire· safety or fire fighting equipment which may, in the reasonable opinion of the Lessor, become
necessary or desirable by reason of the non-compliance by the Lessee with the then current recommendations of the Insurance Council
of Australia or the requirements of the Lessor's insurer or any local or other authority.

 

Lessee's Alteration to Safety Systems:

 

	7.11		The Lessee will not, without the Lessor's written consent and subject to the Lessee's
obligations under clauses 7.06, 7.09 and 7.10 hereto, in any manner interfere with, alter or remove any part or component of the
ventilation system, fire alarm system, sprinkler system or fire fighting equipment now installed or hereafter to be installed.
in the Premises by the Lessor.

 

    	Page 19 of 39

    	 

    

 

PART 8 - TERMINATION, DEFAULT ETC.

 

Yield Up Possession:

 

	8.01		The Lessee shall at the expiration or sooner determination of the Lease peaceably
surrender and yield up to the Lessor the whole of the Premises in good and substantial repair, order and condition (having regard
to the condition thereof at the commencement of the Lease) and clean and free from rubbish (damage by fire, flood, lightning,
storm, tempest, Act of God, war and reasonable wear and tear only excepted).

 

Essential Terms:

 

	8.02		The parties expressly agree and declare that each of the covenants which are specified
in this sub-clause are essential terms of the Lease:

 

	(a)      (i)		the covenant to pay rent throughout the Lease term at a date not later than seven
(7) days after the due date for the payment of each monthly instalment of rent (clauses 3.01, 3.02, 3.04 and 3.05).

 

	(ii)		the covenant to pay outgoings (clause 4.06)

 

	(iii)		the covenant as to assignment of the Lease (Part 6).

 

	(iv)		the covenant as to the use of the Premises (clauses 2.02 and 2.03). (v) the covenants
as to insurance (clauses 7.01 to 7.11).

 

	(b)		In respect of the Lessee's obligation to pay rent, the acceptance by the Lessor of
arrears or of any late payment of rent shall not constitute a waiver of the essentiality of the Lessee's obligation to pay rent
in respect of those arrears or of the late payments or in respect of the Lessee's continuing obligation to pay rent during the
Lease term.

 

	(c)		The Lessee covenants to compensate the Lessor in respect of any breach of an essential
term of this Lease and the Lessor is entitled to recover damages from the Lessee in respect of such breaches. The Lessor's entitlement
under this clause is in addition to any other remedy or entitlement to which the Lessor is entitled (including to terminate this
Lease).

 

Damages for Repudiation:

 

8.03

	(a)		In the event that the Lessee's conduct (whether acts or omissions) constitutes a repudiation
of the Lease (or of the Lessee's obligations under the Lease) or constitutes a breach of any Lease covenants, the Lessee covenants
to compensate the Lessor for the loss or damage suffered by reason of such repudiation or breach. ·

 

    	Page 20 of 39

    	 

    

 

	(b)		The Lessor shall be entitled to recover damages against the Lessee in respect of repudiation
or breach of covenant for the damage suffered by the Lessor during the entire term of this Lease.

 

	(c)		The Lessor's entitlement to recover damages shall not be affected or limited by any
of the following:

 

	(i)		if the Lessee shall abandon or vacate the Premises;

 

	(ii)		if the Lessor shall elect to re-enter or to terminate the Lease; (iii) if the Lessor
shall accept the Lessee's repudiation;

 

	(iv)		if the party's conduct shall constitute a surrender by operation of law.

 

	(d)		The Lessor shall be entitled to institute legal proceedings claiming damages against
the Lessee in respect of the entire Lease term, including the periods before and after the Lessee has vacated the Premises and
before and after the abandonment, termination, repudiation, acceptance of repudiation or surrender by operation of law referred
to in sub-clause 8.03(c) whether the proceedings are instituted either before or after such conduct.

 

Director etc. may act for Company:

 

	8.04		The right of re-entry hereunder may be exercised on behalf of the Lessor (if a company)
by any director, secretary, officer or manager or by any person authorised in writing by such director, manager or secretary.

 

Weekly Tenancy:

 

	8.05		That upon the powers of re-entry granted by clause 3.04 hereof becoming exercisable
the tenancy hereby created shall at the option of the Lessor (to be exercised by notice in writing to the Lessee) thereby become
a tenancy from week to week and be terminable by one (1) week's notice to quit in
writing.

 

PART 9 - INDEMNITIES

 

Injury on Premises:

 

	9.01		The Lessee shall indemnify and hold harmless the Lessor from and against all damages,
sums of money, costs, charges expenses, actions, claims and demands which may be sustained or suffered or recovered or made against
the Lessor by any person for any injury such person shall sustain when using, entering, leaving any portion of the Building of
which the Premises form a part limited to the circumstances where whether the injury arises or has arisen as the result of the
negligence of or as a result of the creation of some dangerous thing or state of affairs by the Lessee or by any clerk, servant,
licensee, invitee, workman, employee, agent, customer, visitor or patron of the Lessee. except in the case of the negligent act
or omission of the Lessor and whether the existence of such dangerous thing or state of affairs was known or ought to have been
known to the Lessor or not.

    	Page 21 of 39

    	 

    

 

Damage to Premises:

 

	9.02		The Lessee shall indemnify and hold harmless the Lessor from and against all loss
and damage to the Premises caused by the negligent use or misuse or abuse of water, gas or electricity supplied to the Lessee
in connection with the Premises or any faulty water, gas or electric light or power fittings or fixtures of the same which may
be in the control of the Lessee and the Lessee will give to the Lessor prompt written notice of any accident to or defects in
the water pipes, gas pipes, electric light and power wiring and fittings.

 

Damaged Merchandise:

 

	9.03		If any merchandise or any other property which may be in the Premises during the said
term shall be damaged or destroyed by the negligent use or misuse, waste or abuse of water, gas, petrol or electricity or by faulty
water, gas or electric (light or power) or oil fittings or fixtures or from or by the overflow of water, sewerage. or other matter
which may leak into or issue from any part of the Premises or from only adjoining or neighbouring land or building or the Building
of which the Premises form part (including the roof or any pipe attached or connected with or appurtenance. to the said adjoining
or neighbouring land or building) no part of the loss or damage occasioned by such injury or destruction shall be borne by the
Lessor provided that such loss or damage was not caused or contributed to by the Lessor, the Lessor's agents, contractors or invitees.

 

Lessor Not Liable:

 

	9.04		Notwithstanding any implication or rule or law to the contrary the Lessor shall not
be liable for any damage or loss the Lessee may suffer by any act default or neglect· of the Lessor or any other person:

 

	(a)		In carrying out the powers, authorities, and
provisions herein contained or otherwise with respect to the Premises; or

 

	(b)		By reason of the Lessor neglecting to do something to the Premises or to the Building
of which the Premises form part and which as between the Lessor and Lessee he might be legally liable to do.

 

PART 10 - GUARANTEE

 

Guarantee:

 

	10.01		The Guarantor named in Item 4 of the Reference
Schedule, so as to bind himself, his heirs, executors, administrators and assigns, HEREBY COVENANTS
with the Lessor that in consideration of the Lessor entering into the Lease at the Guarantor's request (which request
the Guarantor by his execution hereof hereby acknowledges) the said Guarantor (in the case of a company, the directors of the
company) does hereby guarantee to the Lessor the due payment of all moneys hereby covenanted or agreed to be paid and the due
performance, observance and fulfilment by the Lessee of all covenants, terms, provisions and conditions herein contained or implied
and ·in the part of the Lessee to be performed, observed and fulfilled, and in particular without limiting the generality
of the guarantee hereby given it is agreed that:

 

    	Page 22 of 39

    	 

    

 

	(a)		In the event of default by the Lessee in payment of any moneys due and payable by
it pursuant to this Lease then as regards such moneys the Guarantor shall be deemed to become a principal debtor to the Lessor
and the Guarantor shall forthwith upon the occurrence of such default pay such moneys to the Lessor.

 

	(b)		The guarantee hereby granted shall be deemed to extend to all costs, fees, expenses
and other moneys which the Lessor may incur in enforcing or attempting to enforce against the Lessee the terms of this Lease and
the observance and performance by the Lessee of its several obligations and duties
or any of them to be observed fulfilled or performed pursuant to this Lease or in the recovery or attempted recovery from the
Lessee of any moneys which may be payable by the Lessee pursuant to this Lease.

 

	(c)		The guarantee hereby granted shall be deemed to extend to and cover the payment to
the Lessor of all moneys by way of damages or compensation for any breach or non-observance (should such breach or non-observance
occur) by the Lessee of the terms of this Lease.

 

Guarantors Indemnity in Favour of the Lessor:

 

	10.02		The Guarantor hereby indemnifies the Lessor and agrees at all times hereafter to keep
the Lessor indemnified from and against all damages and all claims, costs, losses, expenses or obligations, direct or indirect,
which the Lessor may suffer or incur consequent upon or arising directly or indirectly out of any breach or non-observance by
the Lessee of any of the covenants, terms, provisions or conditions contained or implied in this Lease or any extension or renewal
thereof and on the part of the Lessee to be performed, observed or fulfilled.

 

Guarantors Obligations Not Limited:

 

	10.03		Without limiting the generality of any other provision of this Lease the rights, remedies
and recourse of the Lessor pursuant to this Part 10 shall not in any way be prejudiced or affected and shall remain fully enforceable
and the liability of the Guarantor hereunder shall not be abrogated; prejudiced, limited or affected notwithstanding any one or
more of the following circumstances:

 

	(a)		the granting of any time, credit, forbearance, indulgence or concession at any time
by the Lessor to the Lessee or any Guarantor;

 

	(b)		any absolute or partial release of the Lessee or any one or more Guarantor or any
compromise with the Lessee or any one or more Guarantor;

 

    	Page 23 of 39

    	 

    

 

	(c)		any variation of the provisions of this Lease or any extension or renewal thereof
or holding over of the term or other continued occupation of the Premises by the Lessee;

 

	(d)		any composition, compromise, release, discharge, arrangement, abandonment, waiver,
variation, relinquishment or renewal of any security or right by the Lessor;

 

	(e)		any assignment or sub-lease of the Premises or any part thereof excluding the circumstances
in which the Lessor obtains substitute guarantors pursuant to an assignment or sub lease of the premises;

 

	(f)		any determination of the Lease (whether by effluxion of time, re-entry, forfeiture,
surrender or otherwise);

 

	(g)		the fact that the several rentals and other moneys hereby reserved or any part thereof
may not be recoverable or may cease to be recoverable or may never have been recoverable or that any transaction affecting in
any way the several rentals and such other moneys or the obligations contained in or secured by this Lease are void, voidable
or unenforceable in whole or in part whether initially or otherwise;

 

	(h)		the death, disability, bankruptcy, infancy, deed of arrangement, assignment or composition
for the benefit of creditors, winding-up, scheme of arrangement, reduction of capital, capital reconstruction, or the appointment
of a receiver and manager (whether by the Court or under the powers contained in any instrument) or official management of the
Lessee or any Guarantor or notice of any of the preceding circumstances;

 

	(i)		the fact that one or more of the persons named herein as a Guarantor may never execute
this Lease as Guarantor or that the execution of this Lease by any one or more of such Guarantor (other than the person sought
to be made liable hereunder) is or may become unenforceable, void or voidable;

 

	(j)		any exercise or purported exercise by the Lessor of its right of re-entry;

 

AND EACH of the
above circumstances shall be construed separately and independently and shall not be limited by the provisions of any other clause.

 

Guarantee Irrevocable and Continuing:

 

	10.04		This Guarantee and Indemnity shall be irrevocable and continuing and shall extend
to cover all obligations of the Lessee to the Lessor howsoever arising and it shall continue and remain in full force and effect
until the due performance, observance and fulfilment by the Lessee of all the covenants, terms, provisions and conditions on the
part of the Lessee to be performed, observed and fulfilled in accordance with the terms hereof.

 

    	Page 24 of 39

    	 

    

 

Guarantors Obligations to Lessor not Prejudiced:

 

	10.05		Neither the Guarantor's liability nor the Lessor's rights under this Guarantee and
Indemnity or otherwise shall be prejudiced or discharged by any act or omission or any event of any description which might otherwise
have the effect (whether at law, in equity or under statute) of prejudicing or discharging the liability of the Guarantor hereunder
either as a guarantor or principal debtor or as an indemnifier.

 

Statutory Provisions:

 

	10.06		The Guarantor further agrees that any payment made to the Lessor that is later avoided
by any statutory provision shall be deemed not to have discharged the Guarantor's liability and in any such event the Lessor,
the Lessee and the Guarantor shall be restored to the rights which each respectively would have had if the payment had not been
made.

 

Appointment of Liquidator:

 

10.07

	(a)		The Guarantor hereby agrees to indemnify and keep indemnified the Lessor against all
losses, claims, costs, expenses, damages or obligations, direct or indirect, sustained or incurred by the Lessor in consequence
of any disclaimer of this Lease by a Liquidator of the Lessee for the residue of the term which would have remained if there had
been no disclaimer;

 

	(b)		The Guarantor shall not prove or claim in any such liquidation, composition, arrangement
or assignment or in respect of such appointment until the Lessor has received one hundred cents in the dollar in respect of the
moneys due, owing or payable by the Lessee to the Lessor and the Guarantor shall hold in trust for the Lessor such proof and
claim and any dividend received thereon.

 

Joint and Several:

 

	10.08		Where two or more persons are Guarantors hereunder, the provisions hereof and the
obligations and agreements on their part contained herein referred to and shall bind them and any two or greater number of them
jointly and each of them severally.

 

Assignment of Benefit of Guarantee:

 

10.09

 

	(a)		In the event that the land or the Lessor's interest in this Lease is transferred or
assigned then the benefit of this Guarantee and Indemnity shall extend to me transferee or assignee and the· benefit of
this Guarantee and Indemnity shall enure for the benefit of the Transferee/Assignee notwithstanding any such transfer or assignment.

 

	(b)		In addition to the provisions of sub-clause 10.09(a) above the Guarantor shall, if
requested by the Lessor, at the expense of the Lessor promptly enter into a Deed with any transferee or assignee from the Lessor
in terms substantially similar to this Part 10 (including this clause).

 

    	Page 25 of 39

    	 

    

 

PART 11- REPAIRS AND MAINTENANCE

 

Lessee to Repair and Maintain Premises:

 

	11.01		The Lessee shall during the whole term of this Lease and otherwise so long as the
Lessee may remain in possession or occupation of the Premises and when, where and so often as the need arises keep and maintain
the whole of the interior of the Premises and all fixtures and fittings (including any carpets, curtains and blinds) installed
or provided by the Lessor in good and substantial repair, order and condition (having regard to their condition at the commencement
of the Lease or where this Lease is a renewal then in the condition at the commencement of the initial term) and at the expiration
or sooner determination of the term of this Lease shall yield up the Premises and the fixtures and fittings of the Lessor in good
repair, order and condition, reasonable wear and tear excepted.

 

No Alterations etc.:

 

	11.02		The Lessee shall not without the written consent of the Lessor make any alteration
or addition in or to the Premises or any of the Lessor's fixtures or fittings therein or deface any part thereof PROVIDED ALWAYS
that in the event that the Lessor so consents then any such alteration and/or additions shall be carried out in a proper and
workmanlike manner and in accordance with the requirements of the relevant authorities under the supervision and to the reasonable
satisfaction of the Lessor's architect whose fee shall be paid by the Lessee.

 

Not to Deface Walls etc.:

 

	11.03		The Lessee shall not cut, make holes in, mark, deface, drill or damage the floors,
walls, ceilings or other parts of the Premises except so far as may be reasonably necessary for the erection of signs, blinds,
awnings or shop fittings approved by the Lessor in writing and if such consent is given, the Lessee shall observe and comply with
the requirements of the Lessor and all relevant government or other competent authorities. Subject to clause 14, the Lessee shall
at its own cost and expense reinstate, repair and make good any damage caused by the erection or removal of such signs, blinds,
awnings or shop fittings

 

Roof and Facia:

 

	11.04		The Lessor expressly reserves the sole and exclusive right to the use of the roof
and fascia and all external surfaces of the Building including the right to erect and display advertising signs thereon provided
that all such advertising signs do not obscure the Lessee's shop front or signage for the premises.

 

Removal of Signs:

 

	11.05		Upon the expiration or sooner determination of the said term the Lessee shall at his own
                                                                                expense remove all lettering and distinctive marks or signs erected, affixed or inscribed by the Lessee or by the Lessor
                                                                                for the Lessee on any of the doors, walls or

windows of the Premises and shall make
good any damage or disfigurement caused to such doors, walls or windows by reason of such removal. Should the Lessee fail to remove
such lettering, markings or signs, or make good any damage or disfigurement arising from such removal, then the Lessor by itself
and/or by those authorised by it, may attend to all or any of the required work and/or repairs and in addition to the Lessors other
remedies recover from the Lessee the cost of such work and repairs as if the same were overdue charges and the provisions of Clause
3.05 under this Lease with regard to interest on overdue charges shall apply.

 

    	Page 26 of 39

    	 

    

 

To Comply with Notices:

 

	11.06		That the Lessee will comply with and relieve the Lessor from all liability in respect
of the requirements of any notice issued by any government department or statutory or municipal authority in relation to all alterations,
additions, conveniences and/or repairs to the Premises including works of a structural nature or for use in connection therewith
occasioned by reason of the nature of the particular business carried on·by the Lessee in the said Premises or the number
of persons employed by the Lessee therein or using or occupying the same or by reason of the nature of the Lessee's occupation
of the said Premises AND so far as the same are applicable to the said Premises and the business carried on therein by the Lessee,
the Lessee will observe and conform to the rules and regulations of the Factories and Shops Act or any other Act or regulation
or by-law which may be in force during the said term PROVIDED THAT all notices received by the Lessor from any of the above authorities
shall within a reasonable time after receipt thereof by the Lessor be served on the Lessee.

 

To Keep Clean:

 

	11.07		The Lessee will keep the Premises in a thorough state of cleanliness and shall not
allow any accumulation of useless property or rubbish therein and shall keep all trade waste, trash and garbage in proper receptacles
and arrange for the regular removal thereof from the Premises, and shall at his own expense employ staff for the regular cleaning
of the interior of the Premises and the exterior surface of the windows and shop fronts.

 

Use of Sinks, Drains and Toilets:

 

	11.08		The Lessee shall not use or permit to be used the toilets, sinks, drains, and other
plumbing facilities in the Premises and/or the Building of which the Premises forms part
for any other purposes other than those for which they were provided and shall not deposit nor permit to be deposited therein
any sweepings, rubbish or other matter therein and any damage caused by misuse shall be made good by the Lessee at its expense
forthwith.

 

To Keep Drains Clear:

 

	11.09		The Lessee will at its own expense keep all drains, basins and sewer lines, grease
traps and septic tanks in or about the Premises clean and free from chokage and shall at his own expense cause such grease traps
and septic tanks to be emptied and cleaned when required and shall clear any chokage and upon any such chokage shall notify the
Lessor immediately.

 

    	Page 27 of 39

    	 

    

 

To Maintain Pipes and Electrical Installations:

 

	11.10		The Lessee will maintain at his own expense the water, sewerage and drainage pipes
and installations and electrical installations of the Premises in good repair and working order excluding circumstances of fair
wear and tear.

 

Maintain the Grounds:

 

	11.11		Where applicable the Lessee will maintain and leave the grounds in good order and
condition in accordance with the requirements of the Local Council and not allow trees, shrubs or ornamental plants to be damaged
or removed and where there are grassed and landscaped areas, will keep the grass properly mown and will at its own expense replace
any trees, ornamental plants or shrubs damaged or destroyed with trees, ornamental plants or shrubs of equal quality and value.

 

	11.12		DELETED.

 

Damage to Premises:

 

	11.13		In the event of any damage to the said Premises
or fixtures or equipment therein being caused by the Lessee his employees or customers whether deliberate or accidental then such
damage shall be repaired and replaced and put in good condition by the Lessee at his expense to the satisfaction of the Lessor.

 

Repair Glass:

 

	11.14		The Lessee shall immediately repair and replace all broken glass (with glass of the
same or similar quality) and all damaged lighting installed upon the Premises.

 

Pests:

 

	11.15		The Lessee shall take all reasonable precautions to keep the Premises free from rodents,
insects, pests, birds and animals and for such purposes shall arrange an inspection and report of the Premises each year of the
term by a recognised pest exterminator and shall comply with any recommendations of such pest exterminator and shall promptly
send to the Lessor copies of such reports by the pest exterminator as to the completion of any works which have been recommended
and in default the Lessor may employ a pest exterminator for such purposes and the Lessee shall on demand pay to the Lessor the
amount of the fees of such pest exterminator.

 

Illness:

 

	11.16		Should any infectious illness transpire in or about the Premises the Lessee shall
forthwith give notice thereof in writing to the Lessor and thoroughly fumigate and disinfect the Premises at his own expense and
to the satisfaction of the local Health Officer.

 

    	Page 28 of 39

    	 

    

 

Right to View Premises:

 

	11.17		The Lessor may when and as often as he shall require and with reasonable notice at
all reasonable times, except in case of emergency as determined in the Lessor's sole opinion when no notice need be given, of
the day by itself or its agents enter the Premises and view the state of repair and condition thereof and make such reasonable
investigations as it or they may deem necessary for the purpose of ascertaining whether or not there has been any breach of any
of the covenants or conditions herein contained and to serve upon the Lessee a notice in writing of any defect requiring it to
repair the same in accordance with any requirements herein contained PROVIDED THAT such entry and investigation shall be made
and carried out without undue interference to the use and occupation of the Premises by the Lessee.

 

The Lessor's Right of Inspection for Sale or Re-letting:

 

	11.18		The Lessee shall at all reasonable times allow prospective Purchasers and, within
three (3) months immediately preceding the expiration of this Lease, allow prospective tenants or occupiers to inspect the Premises;
and the Lessor shall have the right to affix and exhibit on the exterior of the Premises or the Building where the Lessor shall
think fit notices and signs (including those of Real Estate Agents) indicating that the Premises are for sale or, within the said
three (3) months period, that the Premises are to become vacant or are to let and such notices or signs shall not be interfered
with or removed by the Lessee.

 

Lessor may Repair where Lessee Defaults:

 

	11.19		In default of the Lessee repairing any defect
according to a notice issued under clause 11.17 hereof then the Lessor by itself and/or those authorised by it may enter the Premises
and execute all or any of the required repairs which the Lessor shall think fit and in addition to the Lessor's other remedies
to recover from the Lessee the cost of such repairs as the Lessee ought to have effected including all sums paid or payable on
account of any insurances, indemnities or compensation under the Workers' Compensation Act or otherwise with respect thereto.

 

Lessor May Alter Building:

 

	11.20		The Lessor shall have the right for its architects and surveyors or its agents or
other authorised servants or workmen to carry out any works or make any repairs alterations, refurbishment or additions or other
work which the Lessor may consider necessary or desirable to any part of the Building or any buildings adjacent thereto from time
to time. Provided however that should any alterations, refurbishment or additions to the Building be likely to adversely affect
the business of the Lessee the Lessor shall give to the Lessee not less than 2 months written notice of such work and shall take
all reasonable steps to minimize adverse interference to the Lessee's approved use of the premises.

 

    	Page 29 of 39

    	 

    

 

Lessee's
Right to Compensation on Alterations

 

	11.21		In respect of all occurrences referred to in
Clause 11.20, the likelihood of which have been specifically drawn to the Lessee's attention in the disclosure statement given
to the Lessee before entering into this Lease, the Lessee is precluded from making any claim for compensation for any loss or
damage suffered by the Lessee as provided in section 34 of the Retail Leases Act 1994 and the Lessor is exempted from any liability
for compensation.

 

 

PART 12 - SECURITY

 

Protection of Premises:

 

	12.01		The Lessee will be responsible to protect and keep the Premises and any property contained
therein safe from theft or robbery and shall keep all doors, windows or other openings closed and securely fastened when the Premises
are not being used and hereby authorises the Lessor or its representatives, agents or other duly authorised person to enter the
Premises for the purpose of locking any such door or window, left unlocked or unfastened.

 

PART 13 - LESSOR'S OBLIGATIONS

 

To Pay Rates:

 

	13.01		The Lessor covenants with the Lessee to pay all rates, taxes and assessments charged
upon the Premises except those which the Lessee has covenanted to pay.

 

Quiet Enjoyment:

 

	13.02		The Lessor covenants with the Lessee that the Lessee paying the said rent and performing
and observing the covenants and obligations on the Lessee's part herein contained shall and may, but subject to any applicable
Rules and Regulations of the Building, peaceably possess and enjoy the Premises during the continuance of this Lease without any
undue interruption or disturbance by the Lessor or any person or persons lawfully claiming by from or under it.

 

PART 14 - FIXTURES

 

Removal of Fixtures:

 

	14.01		The Lessee may
                                                                                 at its absolute discretion during the last fourteen
                                                                                 (14) days of the term remove from the Premises
                                                                                 all fixtures, fittings, floor coverings, signs
                                                                                 and notices which have been erected or installed
                                                                                 by the Lessee during or prior to the term of
                                                                                 the Lease or purchased with the consent of the
                                                                                 Lessor from any previous tenant of the Premises
                                                                                 (other than any fixtures the cost of which have
                                                                                 been paid or subsidized by the Lessor or its
                                                                                 predecessors in title if any) PROVIDED THAT
                                                                                 such removal can be effected without causing
                                                                                 any damage to the Premises and PROVIDED FURTHER
                                                                                 THAT the Lessee shall make good any damage
                                                                                 whatsoever caused to the Premises by such removal.
                                                                                 Notwithstanding the foregoing it is specifically
                                                                                 agreed that at the determination of the Lease
                                                                                 the shop front shall become the property of the
                                                                                 Lessor and shall not be removed by the Lessee.

 

    	Page 30 of 39

    	 

    

 

	14.02		If the Lessee shall not have done so as of right under clause 14.01 the Lessor acknowledges
that the Lessee shall not be required to remove from the Premises any of such Lessees's fixtures, fittings, floor coverings, signs
and notices upon the expiration of the Lease. Notwithstanding anything contained herein, the Lessee acknowledges that the provisions
of this clause do not operate to release the Lessee from any obligation to make good any damage caused to the Premises by the
Lessee during the term of the Lease.

 

Abandonment:

 

	14.03		Any fixtures, fittings, floor coverings, plant, equipment, signs, notices and other
articles not removed by the Lessee within the last fourteen (14) days of the term shall be deemed abandoned by the Lessee and
shall at the option of the Lessor become the property of the Lessor.

 

 

PART 15 - HOLDING OVER

 

Holding Over:

 

	15.01		In the event of the Lessee holding over after the expiration or sooner determination
of the term with the consent of the Lessor the Lessee shall become a monthly tenant only of the Lessor at a monthly rental equivalent
to a monthly proportion of the total annual rental reserved and payable by the Lessee hereunder at the expiration or sooner determination
of the term or at a monthly rental to be nominated by the Lessor and otherwise on the same terms and conditions as those herein
contained as far as applicable and such tenancy shall be determinable at the will of either the Lessee or the Lessor by one (1)
month's notice in writing expiring on any day of the month.

 

 

PART 16 - LEGAL FEES

 

Costs of Lease, Stamp Duty etc.:

 

	16.01		The Lessee shall pay the Lessor's legal costs and all duties, fees, charges and expenses
of or incidental to:

 

	(a)		The stamping (including any additional stamping) and registration (if any) of this.
Lease (including the cost of any certified copy); and

 

	(b)		Any application for or grant of the approval or consent to or
under this Lease of the Lessor, Head Lessor or of any mortgagee of the Lessor; and

 

    	Page 31 of 39

    	 

    

 

	(c)		Any breach or default by the Lessee under this Lease, and the exercise or attempted
exercise of any right, power, privilege, authority or remedy of the Lessor under or by virtue of this Lease or in law or equity
(including, without limit, the fees of all professional consultants and legal costs and expenses on an indemnity basis incurred
by the Lessor in consequence of or in connection with such breach, default, exercise or attempted exercise); and

 

	(d)		Any assignment or request for assignment by the Lessee including the cost of
investigating the prospective Assignee.

 

 

PART 17 - NOTICES

 

Notices:

 

	17.01		Should any damage occur to the Premises or should the Lessee receive any notice from
any statutory, public or municipal authority with respect to the Premises THEN he shall forthwith give notice thereof in writing
to the Lessor.

 

Service of Notices:

 

	17.02		Service of any notice or document hereunder shall be sufficiently served for ·the
purposes of this Lease if:

 

	(a)		served as provided under Section 170 of the Conveyancing Act 1919 (as amended).

 

	(b)		served on the recipient party's solicitor in any manner provided in Section 170 of
the Conveyancing Act 1919 (as amended).

 

	(c)		if addressed to the recipient party's solicitor and delivered to the facilities of
the document exchange system in which the recipient's solicitor has receiving facilities and in such case service shall be deemed
to have been received by such party and that party's solicitor on the second business day following the date, on which it was
first delivered to the said document exchange facility.

 

	(d)		by facsimile transmission to the recipient party or the solicitor for that party and
in such case service shall be deemed to have been received when the transmission has been completed unless:

 

	(i)		the sender's machine indicates a malfunction in the transmission or the recipient
immediately notifies the sender of an incomplete transmission, in which case the facsimile transmission shall be deemed not to
have been given or made; or

 

	(ii)		the time of dispatch is not before 5.00 p.m. (local time) on the day on which business
is generally carried on in the place to which such notice is sent, in which case the notice shall be deemed to have been received
at the commencement of business on the next such day in that place.

 

    	Page 32 of 39

    	 

    

 

Execution of Notices:

 

	17.03		Any notice, other document or writing served, delivered or given under this Lease
is valid and effectual if signed on behalf of the party or by the party personally, by that party's solicitor or, if a company,
by a director, secretary or other officer of the Company or manager, assistant manager of that Company and any notice so signed
shall be conclusive evidence as to its execution and of the authority of the person whose name appears therein to sign same.

 

Validity of Service:

 

	17.04		Service as provided under Clauses 17.02 and 17.03 shall in all respects be valid and
effectual notwithstanding that at the date of such service the recipient party may be:

 

	(a)		Absent from New South Wales; or

 

	(b)		(In the case of a corporation) is in receivership,
under official management or in the course of liquidation or being wound up or deregistered.

 

PART 18 - MISCELLANEOUS

 

Physical Condition:

 

	18.01		The Lessee hereby acknowledges that he is fully familiar with the physical condition
of the Premises, the Building, improvements, fixtures and equipment thereof and that the Lessor has made no representations of
any nature in connection with the condition of the Premises or of the Building, improvements, fixtures or equipment hereof and
the Lessor shall not be liable for any latent or patent defects therein.

 

Weights:

 

	18.02		The Lessee shall observe the maximum floor loading weights nominated by the Lessor
and shall not permit the floors of the Premises to be broken, strained or damaged by overloading. In
particular, the Lessee shall not install any safes or other heavy equipment except in such positions and subject to such
conditions as the Lessor may in writing prescribe.

 

Keys etc:

 

	18.03		The Lessor will provide keys for locks on doors or other openings of the Premises
and the Lessee will return all such keys to the Lessor on the termination of this Lease and shall not permit the same at any time
to come into the possession or control of any person other than the Lessee its servants or agents.

 

Deliveries:

 

	18.04		The Lessee shall not allow the delivery or pick up of merchandise or goods or the
removal of garbage or refuse except through the areas duly designated by the Lessor.

 

    	Page 33 of 39

    	 

    

 

Bulk Deliveries:

 

	18.05		The Lessee will use or permit to be used for the receipt, delivery or other movement
of any goods wares or merchandise or articles of bulk or quantity only such parts of the Building and of the Premises and at such
times as the Lessor may from time to time permit and the Lessee will generally comply with all reasonable requirements of the
Lessor in regard to such matters.

 

Refuse Removal:

 

	18.06		In the event of any local or other authority providing any cleaning or refuse service
for the Premises whether at the request of the Lessor or of the tenant or by direction of any officer of such authority the Lessee
shall pay the cost thereof to the assessing authority on or before the due date for payment thereof if assessed directly against
the Lessee but otherwise to the Lessor within fourteen (14) days of demand by the Lessor.

 

Burning:

 

	18.07		The Lessee will not bum any rubbish or refuse whatsoever on or near the Premises or
the Building except with the consent of the Lessor, Council and any other relevant local authority and then only in a properly
constructed incinerator designed for that purpose.

 

Waste Removal:

 

	18.08		Notwithstanding any other matter or thing contained in this Lease it is hereby expressly
agreed and declared by and between the Lessor and the Lessee that the Lessee shall at its own cost and expense in all respects
comply with the terms, conditions, obligations and duties imposed upon the Lessee by any Water Board or Authority, Board of Fire
Commissioners, Local Government Council, Authority, Department, Ministry and/or Corporation (hereinafter called "the Board")
having any power or authority in respect of the discharge or removal of trade waste, toxic materials, fumes, fluids, dust, rubbish,
refuse, garbage and/or other waste and materials (hereinafter called the "Trade Waste") AND it is further expressly
agreed and declared by and between the parties hereto that any breach of any terms, conditions and obligations so imposed by the
Board upon the Lessee or any failure to pay any charges related to Trade Waste and other fees shall be an immediate breach of
the terms and conditions of this Lease.

 

Chemicals:

 

	18.09		The Lessee will not (without the written consent of the Lessor first had and obtained)
store chemicals inflammable liquids acetylene gas or alcohol volatile or explosive oils compounds or substances upon the Premises
and will not use any such substance or fluids in the Premises for any purpose.

 

    	Page 34 of 39

    	 

    

 

Heating:

 

	18.10		The Lessee shall not use any apparatus which radiates heat (other than an apparatus
for the heating of beverages) without the prior consent in writing of the Lessor (which consent may be withdrawn at any time)
and then only in such positions and subject to such conditions as may be specified in such consent.

 

Aerials etc:

 

	18.11		The Lessee shall not (without the consent in writing of the Lessor) erect or place
upon, within or without the Premises or Building any radio or television aerial or antenna or any loud speakers, screens or similar
devices or equipment and shall not without the like consent use any radio, gramophone, compact disc, audio tape system, television
or other like media or equipment likely to be heard or seen from outside the Premises or Building PROVIDED
FURTHER that any consent so given ·as aforesaid may at any time be withdrawn at the Lessor's discretion.

 

Power for Lighting:

 

	18.12		The Lessee shall not use any form of light, power or heat other than electric current
or gas supplied through meters. This covenant shall not prevent the use of auxiliary power or lighting (other than an exposed
flame) during a period of power failure or power restriction.

 

Awnings:

 

	18.13		No window blinds, window screens or awnings shall be erected without the written approval
of the Lessor or its agents.

 

Obstruction:

 

	18.14		Where the Premises are office premises or retail premises within a shopping centre
the Lessees shall not in any way obstruct or permit the obstruction of the pavement, entry, arcade, vestibule, corridors, passages,
elevators, stairways, fire doors and escape doors or any other part or parts of the common area or use them or any of them for
any other purpose than for ingress and egress.

 

Light and Air etc:

 

	18.15		The Lessee shall not cover or obstruct the floors, skylights, glazed panels, ventilators
or windows that reflect or emit light or air into passageways in any part of the Building or cover or obstruct any lights or any
other means of illumination in the Building.

 

Lifts and Elevators:

 

	18.16		Where a lift or lifts, escalator or escalators are provided or installed in the Building
the Lessor shall endeavour to keep the lift or lifts escalator or escalators in operation and reasonably available for the use
of the Lessee (delays or stoppages due to repairs and maintenance, strikes, accidents or unavoidable causes excepted) PROVIDED
HOWEVER THAT should the lifts or escalators fail to function for any cause whatsoever the Lessee shall not by reason
of such happening be entitled to determine this Lease nor shall the Lessee have any right or action or claim for compensation
or damages against the Lessor in respect thereof or arising therefrom.

 

    	Page 35 of 39

    	 

    

 

Lift Conditions:

 

	18.17		Where a lift or lifts, escalator or escalators are provided or installed in the Building
the Lessee shall comply with and observe the following conditions and restrictions as to delivery of goods or furniture to and
from the Premises:

 

	(a)		In carrying goods or furniture in any lifts installed in the Building priority shall
at all times be given to passenger traffic.

 

	(b)		Before goods or furniture are carried in any of the lifts the side of the lifts shall
be covered in such a manner as the lessor or its agents shall direct to prevent scratching or damage thereto.

 

Delivery of Furniture:

 

	18.18		The Lessee shall comply with and observe the following conditions and restrictions
as to the delivery of goods or furniture to or from the Building or the Premises:

 

	(a)		Goods or furniture may be delivered to and from the Building only through such entrances
as may be permitted by the Lessor or its agents and only at such times and in such manner as will ensure minimum interference
with persons using the entrances, vestibules, corridors, passages, stairways, landings and lifts and will be subject to the prior
approval of and under the supervision of the Lessor or its agent.

 

	(b)		Goods and/or furniture shall not be left in corridors or on stairways at any time
and if so left may be removed by the Lessor or its agent at the expense and risk of the Lessee.

 

Air-Conditioning:

 

	18.19		The Lessee shall comply with and observe the following conditions and restrictions
as to any plant, machinery or equipment for heating, cooling or circulating air (hereinafter referred to as "the air-conditioning
plant"):

 

	(a)		Notwithstanding any other matter or thing contained in this Lease it is hereby expressly
agreed and declared by and between the Lessor and the Lessee that the Lessee shall at its own cost and expense in all respects
maintain and repair the air-conditioning plant in existence in the Premises and will not do or permit· or suffer to do
anything in relation to the use or ventilation of the Premises which might interfere with or impair the efficient operation of
the air-conditioning plant in the Premises or the Building.

 

    	Page 36 of 39

    	 

    

 

	(b)		Should the air-conditioning plant for the time being installed in the Building or
the Premises fail to function from any cause whatsoever the Lessee shall not by reason of such happening be entitled to determine
this Lease nor shall the Lessee have any right of action or claim for compensation or damages against the Lessor in respect thereof.

 

	(c)		Nothing herein contained shall be construed as imposing on the Lessor any liability
to keep any air-conditioning plant working at any time.

 

Waiver:

 

	18.20		The Lessor shall not be deemed to have waived any of his rights and powers herein
unless such waiver is expressly made in writing by the Lessor.

 

Statutes: 

 

	18.21		All references to statutes herein shall include all statutes amending, consolidating
or replacing the statutes referred to.

 

Severability of Clauses:

 

	18.22		If any term or condition or part of any term
or condition of this Lease or the application thereof shall be or become illegal, invalid or unenforceable then the same shall
be severed from this Lease and the remaining terms and conditions of the Lease or any part thereof shall continue and remain to
be in full force and effect.

 

Status of Authorities and Other Entities:

 

	18.23		Where a reference is made to any body or authority such reference shall, if the body
or authority has ceased to exist, be deemed to be a reference to the body or authority as shall then serve substantially the same
objects as that body or authority and any reference to the President of such body or authority shall in the alternative include
a reference to the chief executive or senior officer for the time being of the body or authority or such other person fulfilling
the duties of President or such officer.

 

Proper Law:

 

	18.24		Irrespective of the domicile or residence of any of the parties, this Lease shall
..be governed by the Laws of New South Wales and further the parties acknowledge and submit to the jurisdiction of the Courts of
that State with respect of any legal proceedings in connection or related to this Lease.

 

Non-Smoking Area:

 

18.25 The Lessee acknowledges that the
building has been designated a non-smoking area and that in consequence the Lessee shall not allow or permit its employee's, agents
representatives of invitees to smoke upon the premises.

 

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Repairs to Walls:

 

	18.26		The Lessee acknowledges that the walls on the premises are in good, clean and sound
condition. The Lessee agrees that at the expiration, termination or determination of the Lease, the Lessee shall at its own expense
and if so directed by the Lessor, replaster, seal and paint any walls of the premises as are damaged or stained by the Lessee's
removal works referred to in clause 14.01. The works referred to in this clause shall be carried out by qualified tradesman using
good quality materials and paint.

 

Rent Free Period:

 

	18.27		Notwithstanding any other provision contained herein, the Lessee shall not be liable
to the payment of rent for the period up to and including 31 October 2011.

 

PART 19 - DEFINITIONS AND SUB-HEADINGS

 

Definitions:

 

	19.01		In the interpretation of this Lease except to the extent that such interpretation
shall be excluded or be repugnant to the context when used herein:

	(a)		"Lessor" shall mean and include the Lessor, his successors or assigns.

 

	(b)		"Lessee" shall mean and include the Lessee and the executors, administrators
and permitted assigns and subtenants of the Lessee and where two or more persons are Lessees shall mean and include the Lessees
and each of them and the executors, administrators and permitted assigns and subtenants of them and each of them.

 

	(c)		"Premises" means the property, rooms or floor space hereby demised and every
covenant, power and provision herein contained or implied relating to the Premises shall relate to the whole and every part thereof.

 

	(d)		"Building" means the Building or structure of which the Premises form part.

 

	(e)		"Land" means the land upon which the Building is erected and being the whole
of the land comprised in the Certificate of Title or Folio Identifier set out on the front page of this Lease.

 

	(f)		"Reference Schedule" means the Reference Schedule attached to and forming
part of the Lease.

 

	(g)		"Persons" shall be deemed to include a corporation.

 

	(h)		"Current Market Rent" means:

 

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	(i)		the rent that, having regard to the terms and conditions of the Lease and such other
matters as are relevant to the assessment of current market rent, world be reasonably expected to be paid for the premises if
it were unoccupied and offered for renting for the use to which the premises may be put in accordance with the Lease;

 

	(ii)		the value of goodwill created by the Lessee's occupation and the value of the Lessee's
fixtures and fittings on the retail shop premises are to be ignored for the purposes of the assessment of current market rent.

 

	(iii)		the following are agreed to be matters which are relevant to the assessment of the
current market rent, without limiting the generality of paragraph (i), that the rent shall be determined:

 

	(1)		on the basis that the premises are available for leasing for a term equal to the term
of this Lease and any additional option for renewal.

 

	(2)		on the basis that the Lessee's Lease covenants and obligations shall have been fully
performed at the review date.

 

	(i)		Words importing the singular or plural number shall be deemed to include the plural
or singular numbers respectively and words importing the masculine gender only shall include the feminine and neuter gender, and
vice versa, as the case may require.

 

	(j)		When two or more persons are Lessees all covenants, agreements, restrictions, conditions
and provisions shall. bind the Lessees and any two or greater number of them jointly and each of them severally and shall also
bind their executors, administrators and permitted assigns of them and each of them and every two or greater number of them jointly
and severally.

 

Sub-headings:

 

	19.02		Sub-headings shall not affect the construction or interpretation of this Lease.

 

 

 

    	Page 39 of 39

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