Document:

Exhibit 4.1

 

 

This is to
certify that of is / are the registered shareholders of: No. of Shares Type of Share Ordinary Date of Record Certificate Number
H World Group Limited Par Value US$0.00001%Paid 100.00 The above shares are subject to the Memorandum and Articles
of Association of the Company and transferable in accordance therewith. Director Director/SecretaryExhibit 10.1

 

EXCHANGE
AGREEMENT

 

THIS
EXCHANGE AGREEMENT (the “Agreement”), dated as of June 29, 2022, is entered into by and between CLUBHOUSE MEDIA GROUP,
INC, a Nevada corporation (the “Company”) and GS Capital Partners, LLC (the “Holder”). As used herein,
the term “Parties” shall be used to refer to the Company and Holder jointly and the term “Party” shall be used
to refer to the Company and Holder individually.

 

WHEREAS:

 

A.
The Company warrants and represents that the Holder is in possession of a $577,778 convertible note issued by the Company, dated
February 19, 2021 (the “Original Note”).

 

B. The
Parties desire to exchange of the Original Note for a new Note in the form as attached hereto as Exhibit A (the “Exchange Note”),
in the amount of $635,563.48, which represents principal and accrued interest to date on the Original Note.

 

C. The
Holder warrants and represents that it is sophisticated and experienced in acquiring the securities of small public companies that has
allowed it to evaluate the risks and uncertainties involved in acquiring said securities and thereby make an informed investment decision.

 

NOW
THEREFORE THE PARTIES AGREE AS FOLLOWS:

 

1.00 Exchange
of Original Note. The Parties agree that solely in consideration of the surrender of the Original Note, that:

 

 1.01 Issuance of Exchange Note. Upon the following terms and conditions:

 

	 	(A)	Exchange
    Note. The Company shall issue to the Holder, and the Holder shall acquire from the Company, that certain Exchange Note dated
    and issued as June 29, 2022. The Parties further agree that the “Closing” and the “Closing Date” shall be
    deemed to occur upon the issuance of the Exchange Note as provided by this Section 1.01 (A) of this Agreement.
	 	 	 
	 	(B)	Original
    Note. Promptly following the issuance to the Holder of the Exchange Note, the Original Note shall be assigned to the Company
    as set forth in Section 1.02, and shall thereafter be cancelled and terminated, and shall be null and void and of no further force
    or effect, and the principal amount and all accrued interest and other amounts thereunder (the “Indebtedness”) shall
    be deemed satisfied and paid in full.
	 	 	 
	 	(C)	Delivery
    of Documents. The Company shall, at the Closing Date, deliver to the Holder duly executed copies of the Exchange Note.

 

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1.02 Assignment
of Original Note. Effective as of the issuance of the Exchange Note, Holder does hereby sell, assign, transfer and convey to the
Company all of the right, title and interest of Holder in, to and under the Original Note, free and clear of any liens, encumbrances,
pledges, hypothecations, mortgages, indentures, assignments, security interests (including, without limitation, a preference, priority
or other security agreement), transfer restrictions under any equity holder or similar agreement, arrangement, contract, commitment,
understanding or obligation (whether written or oral), preferential arrangement of any kind or nature whatsoever, claims (pending or
threatened), escrows, charges, options, lock-up arrangements, rights of first refusal, proxies, voting trusts, encumbrances or any other
restrictions or limitations whatsoever, together with any other rights, privileges and benefits belonging to or held by Holder thereunder,
and the Company hereby agrees to assume the Original Note as the holder thereof. This Agreement shall operate as an assignment and assumption
agreement with respect to the Original Note, as set forth herein and the Original Note shall be deemed delivered to the Company at the
closing of the transactions set forth herein, subject to the issuance of the Exchange Note to the Holder as required herein.

 

2.00 Representations
of the Company. The Company hereby makes to the Holder the following representations and warranties as of the date of this Agreement:

 

2.01 Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and
the Exchange Note by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all
necessary action on the part of the Company and no further action is required by the Company, its board of directors or its stockholders
in connection therewith. This Agreement and the Exchange Note have been duly executed by the Company and, when delivered in accordance
with the terms hereof will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with
its terms.

 

2.02 No
Conflicts. The execution, delivery and performance of this Agreement and the Exchange Note by the Company and the consummation by
the Company of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s
or any of its subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii)
conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in
the creation of any lien or encumbrance upon any of the properties or assets of the Company or any subsidiary, or give to others any
rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any material agreement,
credit facility, debt or other material instrument (evidencing a Company or subsidiary debt or otherwise) or other material understanding
to which the Company or any subsidiary is a party or by which any property or asset of the Company or any subsidiary thereof is bound
or affected, or (iii) assuming the representations and warranties of the Holder herein are true and correct, conflict with or result
in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
to which the Company or a subsidiary is subject (including federal and state securities laws and regulations), or by which any property
or asset of the Company or a subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not
have or reasonably be expected to result in a material adverse effect on the Company or its business of financial condition.

 

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2.03 Filings,
Consents and Approvals. The Company is not required to obtain any approval, consent, waiver, authorization or order of, give any
notice to, or make any filing, qualification or registration with, any court or other federal, state, local, foreign or other governmental
authority or other person or entity in connection with the execution, delivery and performance by the Company of this Agreement, the
Exchange Note and both of them. No further approval is required for the issuance or sale of the Exchange Note or any shares of Common
Stock issuable upon the conversion or exchange of, in payment of interest on, or otherwise pursuant to the Exchange Note (“Underlying
Shares”).

 

2.04 Issuance
and Reservation of Securities. The Exchange Note and the Underlying Shares are duly authorized. Any Underlying Shares, when issued
in accordance with the terms of Exchange Note, will be duly and validly issued, fully paid and non-assessable, free and clear of all
liens, freely tradable and without any legends thereon. The Company will, and at all times, reserve from its duly authorized capital
stock for issuance upon conversion pursuant to the Exchange Note at least such number of shares of Common Stock as is equal to no less
than four times the amount of Underlying Shares into which the Exchange Note is convertible (without regard to any limitations on ownership
or conversion set forth therein).

 

2.05 Private
Placement. Assuming the representations and warranties of the Holder herein are true and correct, no registration under the Securities
Act of 1933, as amended (the “1933 Act”), is required for the issuance of the Exchange Note or any Underlying Shares in accordance
with the terms hereof and thereof.

 

2.06 No
Inside Information. Neither the Company nor any Person acting on its behalf has provided the Holder or its counsel with any information
that constitutes or might constitute material, non-public information concerning the Company.

 

2.07 Equal
Consideration. Except as otherwise set forth herein, no consideration has been offered or paid to any person to amend or consent
to a waiver, modification, forbearance, exchange or any other action with respect to any provision of the Note Portion.

 

2.08 Survival
& Delivery of Documents to the Holder. All of the Company’s warranties and representations contained in this Agreement
shall survive the execution, delivery and acceptance of this Agreement by the Parties hereto and continue for a period of 5 year after
the date of this Agreement.

 

2.09 Documents
RE: Exchange Note. Further, contemporaneous with the execution and delivery of this Agreement to the Holder, the Company shall deliver
to the Holder a duly executed copy of the Exchange Note. The Parties agree that time is of the essence in connection with the deliveries
set forth in this Agreement and the obligations imposed on the Company are material to this Agreement.

 

2.10 Holding
Period for Exchange Note. Pursuant to Rule 144 promulgated under the 1933 Act, it is expected and intended that the holding period
of the Exchange Note (and the underlying shares of Common Stock issuable upon conversion thereof or in payment of interest thereon) shall
begin on the Original Note issuance date. The Company agrees not to take a position contrary to this paragraph.

 

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2.11 Legal
Opinion. The Company hereby agrees to allow the Holder’s legal counsel to issue a legal opinion to the Holder and the Company’s
Transfer Agent regarding this Agreement and the transactions contemplated hereby, in form and substance reasonably acceptable to said
agent and counsel to the Company, including an opinion that all shares issuable upon conversion of the Exchange Note or in payment of
interest thereunder) may be sold pursuant to Rule 144 and, subject to the issuance of such opinion, the Company acknowledges that certificates
representing any such shares may be issued without a restrictive legend as required pursuant to Section 2.04.

 

2.12 Public
Information. So long as the Holder owns the Exchange Note and/or Underlying Shares, the Company shall timely file (or timely obtain
extensions in respect thereof and file within the applicable grace period) all reports and definitive proxy or information statements
required to be filed by the Company under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and shall not
terminate its status as an issuer required to file reports under the Exchange Act (even if the Exchange Act or the rules and regulations
promulgated thereunder would otherwise permit such termination).

 

2.13 Conversion
Procedures. The form of Conversion Notice included in the Exchange Note sets forth the totality of the procedures required of a Holder
in order to convert Exchange Note. No additional legal opinion or other information or instructions shall be required of the Holder to
convert the Exchange Note, except as required under the 1933 Act. Subject to compliance with the provisions of the Exchange Note by the
Holder, the Company shall honor all conversions of the Exchange Note and shall deliver Underlying Shares in accordance with the terms,
conditions and time periods set forth therein to the extent permitted by law.

 

3.00 Representations
of the Holder. The Holder hereby makes to the Company the following representations and warranties as of the date of this Agreement:

 

3.01 Authorization;
Enforcement. The Holder has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and
the Exchange Note by the Holder and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary
action on the part of the Holder and no further action is required by the Holder, manager or members in connection therewith. This Agreement
and the Exchange Note have been duly executed by the Holder and, when delivered in accordance with the terms hereof will constitute the
valid and binding obligation of the Holder enforceable against the Holder in accordance with its terms.

 

3.02 No
Conflicts. The execution, delivery and performance of this Agreement and the Exchange Note by the Holder and the consummation by
the Holder of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Holder’s
organizational documents or (ii) assuming the representations and warranties of the Company herein are true and correct, conflict with
or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental
authority to which the Holder is subject (including federal and state securities laws and regulations).

 

3.03 Filings,
Consents and Approvals. The Holder is not required to obtain any approval, consent, waiver, authorization or order of, give any notice
to, or make any filing, qualification or registration with, any court or other federal, state, local, foreign or other governmental authority
or other person or entity in connection with the execution, delivery and performance by the Holder of this Agreement, the Exchange Note
and both of them.

 

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3.4
Investment Representations.

 

	 	3.4.1	Holder
    understands and agrees that the consummation of this Agreement including the delivery of the Exchange Note and the Underlying Shares,
    if any (collectively, the “Securities”) as contemplated hereby constitute the offer and sale of securities under the
    1933 Act and applicable state statutes and that the Securities are being acquired for Holder’s own account and not with a present
    view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the
    1933 Act.
	 	 	 
	 	3.4.2	Holder
    is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D under the 1933 Act.
	 	 	 
	 	3.4.3	Holder
    understands that the Securities are being offered and sold to Holder in reliance upon specific exemptions from the registration requirements
    of United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and Holder’s
    compliance with, the representations, warranties, agreements, acknowledgments and understandings of Holder set forth herein in order
    to determine the availability of such exemptions and the eligibility of Holder to acquire the Securities.
	 	 	 
	 	3.4.4	At
    no time was Holder presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement,
    or any other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and
    concurrently with such communicated offer. Holder is not purchasing the Securities acquired by Holder hereunder as a result of any
    “general solicitation” or “general advertising,” as such terms are defined in Regulation D under the 1933
    Act, which includes, but is not limited to, any advertisement, article, notice or other communication regarding the Securities acquired
    by Holder hereunder published in any newspaper, magazine or similar media or on the internet or broadcast over television, radio
    or the internet or presented at any seminar or any other general solicitation or general advertisement.
	 	 	 
	 	3.4.5	Holder
    is acquiring the Securities for its own account as principal, not as a nominee or agent, for investment purposes only, and not with
    a view to, or for, resale, distribution or fractionalization thereof in whole or in part and no other person has a direct or indirect
    beneficial interest in the Securities. Further, Holder does not have any contract, undertaking, agreement or arrangement with any
    person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities.
	 	 	 
	 	3.4.6	Holder,
    either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters
    so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the
    merits and risks of such investment.

 

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	 	3.4.7	Holder
    understands that no United States federal or state agency or any other governmental or state agency has passed on or made recommendations
    or endorsement of the Securities or the suitability of the investment in the Securities nor have such authorities passed upon or
    endorsed the merits of the transactions set forth herein.

 

4.00
Miscellaneous.

 

4.01 Counterparts.
This Agreement may be executed in two or more counterparts and by facsimile signature, delivery of PDF images of executed signature
pages by email or otherwise, and each of such counterparts shall be deemed an original and all of such counterparts together shall constitute
one and the same agreement.

 

4.02 Effect
of Invalidity. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by
a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended
to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall
not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express,
without material change, the original intentions of the Parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the Parties or the practical realization of the benefits that would otherwise be conferred upon the Parties. The Parties will endeavor
in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of
which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

4.03 Matter
of Further Assurances & Cooperation. The Holder and the Company hereby agree and the Company further agrees that it shall provide
further assurances that it will, in the future, execute and deliver any and all further agreements, certificates, instruments and documents
and do and perform or cause to be done and performed, all acts and things as may be necessary or appropriate to carry out the intent
and accomplish the purposes of this Agreement without unreasonable delay and in no event later than one (1) business after it receives
any reasonable written request from the Holder.

 

4.04 Successors.
The provisions of this Agreement shall be deemed to obligate, extend to and inure to the benefit of the successors, permitted assigns,
transferees, grantees, and indemnitees of each of the Parties to this Agreement. No Party may assign, delegate or otherwise transfer
any of its rights or obligations under this Agreement without the written consent of the other Party. Other than as specifically set
forth herein, nothing in this Agreement shall confer on any person or entity other than the Parties, and their respective successors
and assigns, any rights, remedies, obligations, or Liabilities under or by reason of this Agreement

 

4.05 Integration.
This Agreement, after full execution, acknowledgment and delivery, memorializes and constitutes the entire agreement and understanding
between the Parties and supersedes and replaces all prior negotiations and agreements of the Parties, whether written or unwritten with
the exception of the Company’s profit-sharing plan and any agreements related thereto.

 

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4.06 Severance.
If any provision of this Agreement is held to be illegal or invalid by a court of competent jurisdiction, such provision shall be
deemed to be severed and deleted; and neither such provision, nor its severance and deletion, shall affect the validity of the remaining
provisions.

 

4.07 Governing
Law. This Note shall be governed by and construed in accordance with the internal laws of the State of Nevada, without giving effect
to any of the conflicts of law principles which would result in the application of the substantive law of another jurisdiction. This
Note shall not be interpreted or construed with any presumption against the Party causing this Note to be drafted

 

4.08 Consent
to Jurisdiction. Each of the Company and the Holder (i) hereby irrevocably submits to the exclusive jurisdiction of the State of
Nevada for the purposes of any suit, action or proceeding arising out of or relating to this Note and (ii) hereby waives, and agrees
not to assert in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court,
that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.
Each of the Company and the Holder consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such Party at the address in effect for notices previously provided to it and agrees that such service shall constitute good and sufficient
service of process and notice thereof.

 

4.08
Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREIN (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY
OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

4.09
Specific Performance. Each Party agrees that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that each Party shall be entitled to seek specific performance of the terms hereof in addition
to any other remedy at law or in equity.

 

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4.10
Notices

 

(a)
Any notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently given if personally
delivered to it or sent by email, overnight courier or registered mail or certified mail, postage prepaid, addressed as follows:

 

if
to the Company, to:

 

Clubhouse
Media Group, Inc.

Attn:
Amir Ben-Yohanan

201
Santa Monica Blvd., Suite 30

Santa
Monica, California 90401

Email:
amir_yoh@yahoo.com

 

If
to the Holder, to:

 

GS
Capital Partners, LLC

Attn:
Gabe Sayegh

1
East Liberty Street, Suite 600

Reno,
NV 89501

Email:
gabe@gscapitalfund.com

 

	 	(a)	Any
    Party may change its address for notices hereunder upon notice to each other Party in the manner for giving notices hereunder.
	 	 	 
	 	(b)	Any
    notice hereunder shall be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch, if
    sent by overnight courier, (iii) upon dispatch, if transmitted by email with return receipt requested and received and (iv) three
    (3) days after mailing, if sent by registered or certified mail.

 

[Signatures
appear on following page]

 

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IN
WITNESS WHEREOF, this Agreement is executed as of the date first set forth above.

 

	FOR THE COMPANY: 	 
	 	 
	CLUBHOUSE MEDIA GROUP INC	 
	 	 	 
	By:	/s/
    Amir Ben-Yohanan	 
	Name:	Amir
    Ben-Yohanan	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	FOR
    THE HOLDER:	 
	 	 	 
	GS
    CAPITAL PARTNERS, LLC	 
	 	 	 
	By:	/s/
    Gabe Sayegh	 
	Name:
    	Gabe
    Sayegh	 
	Title:	President	 

 

[SIGNATURE
PAGE TO EXCHANGE AGREEMENT]

 

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Exhibit
A

Exchange
Note

 

(Attached)

 

    	10

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