Document:

Exhibit
10.8

 

CONSULTING
AGREEMENT

 

THIS
AGREEMENT (the “Agreement”) is made on this 31st of July 2019, between ScoutCam Ltd., private company
number 51-595040-0, whose address is at Omer Industrial Park, No. 7A, P.O. Box 3030, Omer 8496500, Israel (the “Company”)
and Prof. Benad Goldwasser, whose address is at Rosenblum Herzl 8, Tel Aviv (the “Consultant”).

 

	WHEREAS:	the
    Company wishes the Consultant to provide the Company with certain services and the Consultant wishes to render such services
    to the Company; and
	 	 
	WHEREAS:	the
    Consultant represents to the Company that he is ready, qualified, willing and able to carry out his obligations and undertakings
    towards the Company pursuant hereto; and
	 	 
	WHEREAS:	the
    Company and the Consultant desire to regulate their relationship in accordance to the terms and conditions set forth in this
    Agreement.

 

NOW
THEREFORE, the parties hereto agree as follows:

 

	1.	The
    Services

 

	 	1.1.	The
    Company hereby engages the Consultant as an independent consultant and the Consultant hereby agrees to serve as a consultant
    to the Company and provide the services specified in Schedule A attached hereto (the “Services”).
    The engagement hereunder has commenced on March 1, 2019 (the “Effective Date”).
	 	 	 
	 	1.2.	The
    Consultant shall cooperate on an ongoing basis with such employees, consultants and contractors of the Company as determined
    by the Company from time to time; the person within the Company who shall be in charge of the engagement of the Consultant
    shall be the Company’s board of directors or such other person as determined by the Company from time to time. The Company
    may require the Consultant to provide reports or other types of ongoing information concerning the Services as determined
    from time to time, whether or not set forth herein.
	 	 	 
	 	1.3.	The
    Consultant shall devote all of the necessary time in performing his duties and responsibilities under this Agreement, as shall
    be reasonably required by the Company. 
	 	 	 
	 	1.4.	The
    Consultant agrees to perform his duties described herein in a faithful, diligent and professional manner.
	 	 	 
	 	1.5.	Nothing
    in this Agreement shall be interpreted as preventing or restricting the Consultant from supplying services to any third party,
    as long as such services to third parties (i) do not conflict with any obligation or undertaking of the Consultant hereunder,
    and (ii) do not interfere with the performance of or restrict the ability of the Consultant to perform the Services hereunder.
    

 

	2.	Term
    and Termination

 

	 	2.1.	This
    Agreement shall commence upon the Effective Date and shall continue until terminated in accordance with Section ‎2.2 below.
	 	 	 
	 	2.2.	Notwithstanding
    the above, this Agreement may be terminated at any time by the Consultant or by the Company by giving the other party 60 days’
    advance notice in writing (the “Notice Period”), provided that the Company may terminate this Agreement
    forthwith for Cause (as defined herein) without advance notice. A termination for “Cause” is a termination due
    to: (i) the Consultant’s conviction or indictment of any felony;(iv) a material breach of trust by the Consultant or
    embezzlement of funds of the Company or any Affiliate (as defined in Section ‎9.1 below) thereof; (v) involvement in sexual
    harassment of any employee of the Company or other party in connection with the performance of the Services; or (vi) causing
    grave injury to the business, assets, operations or reputation of the Company or any Affiliate thereof. Nothing herein shall
    derogate from the Company’s rights with respect to such termination for Cause, including the right to set off damages
    against the Consultant’s Consulting Fees (as defined in Section ‎3.1 below).
	 	 	 
	 	2.3.	In
    the event of termination other than for Cause, the Consultant shall be entitled to Consulting Fees only to the extent that
    he provides Services to the Company during the Notice Period. 

 

    	 

    	- 2 - 

    

 

	3.	Consideration

 

	 	3.1.	Consulting
    Fee

 

	 	3.1.1.	In
    consideration for the Services rendered by the Consultant pursuant to this Agreement the Company shall pay the Consultant
    a monthly fee in the amount of US$ 10,000 (plus VAT, if required by law) (the “Consulting Fee”). 
	 	 	 
	 	3.1.2.	All
    payments of Consulting Fees hereunder shall be made on a monthly basis, within 10 days from, and subject to, receipt by the
    Company of a duly issued tax invoice(s) and receipt(s) by the Consultant for the amount due.
	 	 	 
	 	3.1.3.	The
    Consulting Fees are inclusive of any and all taxes, and the Consultant shall bear full responsibility for all taxes of any
    kind or nature relating, directly or indirectly, to the Consulting Fees and otherwise to the Services hereunder. To the extent
    that any such taxes may be imposed upon the Company, the Company may deduct such amounts from any payments due to the Consultant.
    The Company shall be entitled to withhold and deduct from payments due hereunder any and all amounts as may be required from
    time to time under any applicable law. VAT shall be charged on all amounts payable hereunder, including any stock options,
    as required by law.

 

	 	3.2.	Reimbursement
    of Expenses 
	 	 	 
	 	 	The
    Company shall reimburse Consultant for necessary and customary business expenses incurred by Consultant, in accordance with
    the Company’s policy, as amended from time to time.

 

	 	3.3.	Stock
    Options

 

	 	3.3.1.	Subject
    to the terms of the Company’s 2019 Share Incentive Plan (the “ESOP”), the Consultant shall be granted,
    subject further to execution of an option agreement in a form provided by the Company and all other required documents and
    agreements required by the Company, options to purchase ordinary share of the Company (the “Options”),
    representing 5% of the fully diluted share capital of the Company post issuance of the next financing round (for this purpose,
    such financing round not to exceed $3.0 million or, if the pre-money valuation of the Company in such financing round is at
    least of $10, than $5.0 million)(the “Financing”). The Options will vest over a period of four (4) years
    commencing May 22, 2019, in eight equal semi-annual instalments, (ii) the term of the SC Options shall be of six (6) years
    from the date of grant, unless they have been exercised or cancelled in accordance with the terms and conditions of the ESOP
    (iii) unless previously exercised or cancelled, the Options may be exercised until 180 days following the termination of service,
    (iv) the exercise price per share of the Options will be calculated based on a 25% discount on the sale price of the ordinary
    shares of the Company in the next fund raising of the Company following the execution of this Agreement, provided that the
    Company’s valuation is not more than $7.5 million, and (v) the Options shall be accelerated upon the closing of a material
    transaction, resulting in change of control of the Company and/or in case of the Consultant is dismissed not for Cause. In
    the event that the Company effect a share exchange agreement pursuant to which the Company becomes an indirect subsidiary
    of Medigus Ltd., any reference to Financing under this Section 3.3.1 shall apply mutatis mutandis for
    options for stock to be issued by the new direct Parent of the Company.

 

    	 

    	- 3 - 

    

 

	 	3.4.	Full
    Consideration
	 	 	 
	 	 	Other
    than the consideration specified in this Section ‎3, which consideration constitutes full consideration for the Services
    rendered hereunder, the Consultant will not be entitled to any other consideration for rendering the Services hereunder.

 

	4.	Confidentiality,
    Non-Competition and Invention Assignment Undertaking
	 	 
	 	Simultaneously
    with the execution of this Agreement, and a as condition hereto, the Consultant hereby executes the Undertaking attached hereto
    as Schedule B.

 

	5.	Relationship
    of Parties

 

	 	5.1.	Despite
    the fact that the Company has offered the Consultant to provide the Services as a salaried employee of the Company, the Consultant
    requested to provide the Services in the capacity of an independent contractor only. Therefore, the Company increased the
    salary which was initially offered to Consultant by 50% in order to enable Consultant to cover several payments and expenses
    which he has to bear as an independent contractor, including the purchase of pension coverage and disability insurance. 
	 	 	 
	 	5.2.	The
    parties hereto hereby declare and approve, that this Agreement is a Contractors Agreement within the meaning of the Israeli
    Contractors Law – 1974 (the “Contractors Law”), and that nothing in this Agreement that shall be
    interpreted or construed as creating or establishing any partnership, joint venture, employment relationship, franchise or
    agency or any other similar relationship between the Company or its Affiliates and the Consultant or any of his agents and
    employees, and it is specifically clarified that with respect to the Services, no employer-employee relationship will be formed
    between the Company or its Affiliates and the Consultant or any of his agents and employees, and the Consultant is not entitled
    to any social or other benefits resulting from employer-employee relationship. Notwithstanding the above, the Consultant hereby
    waives any right to a lien in accordance with Section 5 of the Contractors Law or any other law. The Consultant hereby acknowledges
    that the Company is relying upon the truthfulness and accuracy of the representations set forth in this Section 5.2 in engaging
    the Consultant.
	 	 	 
	 	5.3.	The
    Consultant shall bear and/or will defend, indemnify and hold the Company, or any third party on its behalf, harmless from
    and against all claims, all damages, losses and expenses, including reasonable fees and expenses of attorneys and other professionals,
    upon receipt of demand (i) relating to any obligation, future or past, imposed upon the Company to pay any withholding tax
    payments regarding consulting services, social security, unemployment or disability insurance or similar terms in connection
    with compensation received by Consultant or, or which are based upon a stipulation by a competent judicial authority that
    an employer - employee relationship was created between the Company or its Affiliates and the Consultant and/or his agents
    and employees; and (ii) resulting from any act, omission or negligence on Consultant’s or any of his employees’
    part in the performance or failure to perform the scope of work under this Agreement. 

 

    	 

    	- 4 - 

    

 

	 	5.4.	The
    Consultant acknowledges that the Consultant has read and fully understood the terms of this structure of the relationship
    between the parties as an independent contractor and that Consultant has consulted and received advice of counsel regarding
    said structure of the relationship between the parties hereto and has had sufficient opportunity to do so. 
	 	 	 
	 	5.5.	It
    is hereby clarified that any right granted to the Company to instruct and/or oversee the Services by the Consultant is granted
    in order to ensure the performance of the Services in full and not to imply or justify an employer -employee relationship
    between the Company and the Consultant or any of his agents or employees.
	 	 	 
	 	5.6.	The
    Consultant shall be responsible to pay any and all payments, salary, taxes and all other benefits and any amounts due to any
    relevant social security or similar authority with respect to its employees and/or the Services provided by any of them pursuant
    to this Agreement. The Consultant undertakes to acquire for [himself/herself] pension coverage in a customary amount. The
    Consultant, hereby releases and forever discharges the Company and its Affiliates, from any and all claims, which [he/she]
    ever had, now has, or may claim to have against the Company and/or its Affiliates in connection with the existence of any
    employer - employee relationship between Company or its Affiliates and Consultant or any of his agents and employees.
	 	 	 
	 	5.7.	In
    light of the above, should it be held by any competent judicial authority that the relationship between the Consultant or
    any of his employees or agents, and the Company (or any of its Affiliates) in respect of the Services rendered by the Consultant
    pursuant to this Agreement is one of employer and employee, the parties agree that the “salary” that the Consultant
    would be entitled to as an “employee” (including for the purpose of social security and social benefits), for
    the provision of the Services within the framework of this Agreement, shall be 60% of the average monthly Consulting Fee (the
    “Agreed Employee Compensation”).
	 	 	 
	 	5.8.	The
    Consultant will be obligated to return to the Company all surplus payments that the Company paid beyond the Agreed Employee
    Compensation (the “Surplus Sum”), on the day that a demand and/or claim which contradicts this Agreement
    is filed or on the day that a decision under Section ‎5.7 is made, pursuant to which it is claimed or decided that the
    Consultant is a salaried employee of the Company.
	 	 	 
	 	5.9.	Any
    Surplus Sum that the Consultant is obligated to return will be subject to interest linked to the last known Israeli Consumer
    Price Index on the date said Surplus Sum is to be returned to the Company.
	 	 	 
	 	5.10.	The
    Company will be entitled to deduct from and set off against amounts due to the Consultant pursuant to this Agreement and/or
    pursuant to any other agreement, law, or otherwise, any amounts, which the Consultant is required to pay the Company pursuant
    to this Agreement (including the Surplus Sum), any other agreement, any law, or otherwise. 

 

    	 

    	- 5 - 

    

 

	6.	Warranties
	 	 
	 	Consultant
    represents and warrants that:

 

	 	6.1.	The
    Consultant does not have currently and shall not have during the term of the provisions of the Services, any outstanding agreement
    or obligation that is or will be in conflict with any of the provisions of this Agreement, or that would preclude the Consultant
    from complying with the provisions hereof or otherwise restrict the Consultant in any way in performing the Services.
	 	 	 
	 	6.2.	The
    Consultant represents and warrants that the execution and delivery of this Agreement, the performance of the Services and
    the fulfillment of the terms hereof will not: (a) constitute, in whole or in part, a default, violation or breach under or
    conflict in any way with any agreement, obligation, undertaking or commitment to which the Consultant is a party or by which
    he is bound, including without limitation, any confidentiality, invention assignment or non-competition agreement and (b)
    do not require the consent, permission or authorization of or notification to any person or entity.
	 	 	 
	 	6.3.	The
    Consultant hereby undertakes to comply with all Company disciplinary regulations, work rules, policies, procedures and objectives,
    which are relevant to the performance of the Services or otherwise to consultants of the Company.
	 	 	 
	 	6.4.	The
    Consultant agrees that the Company may monitor the Consultant’s use of its Systems (as defined below) and copy, transfer
    and disclose such electronic communications and content transmitted by or stored in such Systems, in pursuit of the Company’s
    legitimate business interests, all in accordance with the Company’s policies in place from time to time, and subject
    to applicable law. For the purposes of this Section, the term “Systems” includes all of the Company’s
    owned or leased computers (including laptops), mobile phones and other mobile devices, keys, PDAs, credit cards, printers,
    card access to any company building, files, e-mails, tapes, programs, records and software, computer access codes or disks,
    and other similar systems.
	 	 	 
	 	6.5.	The
    Consultant shall not solicit or accept in connection with the performance of the Services or in connection with the Company,
    any gift, benefit, favor, loan, or any other thing of monetary value, from a person who is or is possibly connected, directly
    or indirectly, to either the business of the Company, a competitor of the Company or a potential competitor of the Company.
    
	 	 	 
	 	6.6.	The
    Consultant shall not make any representations or warranties to anyone with respect to any contract or otherwise without the
    Company’s prior written authorization.
	 	 	 
	 	6.7.	The
    Consultant shall take all necessary precautions to prevent the occurrence of any bodily injury or property damage, to the
    Company, its employees or any third party, arising out of or resulting from the performance of the Services and shall be solely
    responsible, and liable, for any such bodily injury or property damage.

 

	7.	Miscellaneous

 

	 	7.1.	In
    this Agreement the term “Affiliate” shall mean, any person or entity that directly or indirectly controls,
    is controlled by, or is under common control with, a party to this Agreement. For purposes hereof, the term “control”
    means the power to direct the management or affairs of a person or entity through the ownership of voting securities, by contract,
    or otherwise.
	 	 	 
	 	7.2.	The
    preamble and the schedules hereto shall form an integral part of this Agreement. All headings of the Sections and Subsections
    of this Agreement are intended for convenience of reference and shall not be used in interpreting this Agreement.

 

    	 

    	- 6 - 

    

 

	 	7.3.	Assignment.
    Neither this Agreement nor any interest herein may be assigned by the Consultant without the prior written consent of the
    Company. The Company may assign or transfer this Agreement or any of its rights and/or obligations under this Agreement without
    the Consultant’s consent.
	 	 	 
	 	7.4.	Entire
    Agreement; Amendments. This Agreement constitutes the entire agreement between the Consultant and the Company with respect
    to the subject matter hereof and supersedes any other arrangement, understanding or agreement, verbal or otherwise. No amendment
    of or waiver of, or modification of any obligation under this Agreement will be enforceable unless set forth in a writing
    signed by the parties hereto. No delay or failure to require performance of any provision of this Agreement shall constitute
    a waiver of that provision as to that or any other instance. 
	 	 	 
	 	7.5.	Law;
    Jurisdiction. This Agreement shall be governed by the laws of the State of Israel (excluding its conflict of law principles)
    and the competent courts/tribunals of Tel-Aviv shall have exclusive jurisdiction over any disputes arising hereunder.
	 	 	 
	 	7.6.	No
    Waiver. No failure or delay on the part of any party hereto in exercising any right, power or remedy thereunder shall
    operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other
    or further exercise thereof or the exercise of any other right, power or remedy. Any waiver granted thereunder must be in
    writing and shall be valid only in the specific instance in which given.
	 	 	 
	 	7.7.	Severability.
    If any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable under applicable law,
    then such provision shall be excluded from this Agreement and the remainder of this Agreement shall be interpreted as if such
    provision were so excluded and shall be enforceable in accordance with its terms; provided, however, that in such event this
    Agreement shall be interpreted so as to give effect, to the greatest extent consistent with and permitted by applicable law,
    to the meaning and intention of the excluded provision as determined by such court of competent jurisdiction.
	 	 	 
	 	7.8.	Notices.
    Any notice or other communication in connection with this Agreement must be in writing to the address set forth in the preamble
    to this Agreement (or to such other address as shall be specified by like notice) and will be deemed given: (i) if sent by
    a delivery service, on the date confirmed as the actual date of delivery by such service; (ii) if sent by registered air mail,
    return receipt requested, within seven (7) days of mailing; or (iii) if sent by facsimile or email with electronic confirmation
    of transmission, on the next business day after transmission, if not transmitted on a business day, or on the day of transmission,
    if transmitted on a business day.
	 	 	 
	 	7.9.	Survival.
    The provisions of Sections ‎4, ‎5, ‎6 and ‎7 of this Agreement, including the provisions of Schedule
    B, shall continue and remain in full force and effect following the termination or expiration of this Agreement, for
    whatever reason.

 

-Signature
Page Follows-

 

    	 

    	- 7 - 

    

 

IN
WITNESS WHEREOF, the parties have signed this Agreement as of the date hereof.

 

	/s/
    Yaron Silberman/ /s/ Tanya Yosef	 	/s/ Benad Goldwasser
	ScoutCam Ltd. 	 	Prof. Benad Goldwasser 
	By:	Yaron
    Silberman / Tanya Yosef	 	By:	       
	Title:	Interim
    CEO / CFO	 	Title:	 

 

    	 

    	- 8 - 

    

 

SCHEDULE
A

SERVICES

 

“Services”
shall mean management services as the Company’s chairman of its board of directors.

 

    	 

    	- 9 - 

    

 

SCHEDULE
B

 

UNDERTAKING

 

THIS
UNDERTAKING (“Undertaking”) is entered into as of the 31st day of July 2019 by Prof. Benad Goldwasser,
whose address is at Rosenblum Herzl 8, Tel Aviv (the “Consultant”).

 

	WHEREAS,	Consultant
    wishes to be engaged by ScoutCam Ltd. of Omer Industrial Park, No. 7A, P.O. Box 3030, Omer 8496500, Israel (the “Company”);
    and 
	 	 
	WHEREAS,	it
    is critical for the Company to preserve and protect its Confidential Information (as defined below) and its rights in Inventions
    (as defined below) and in all related intellectual property, and Consultant is entering into this Undertaking as a condition
    to Consultant’s engagement with the Company.

 

NOW,
THEREFORE, the Consultant undertakes and warrants towards the Company as follows:

 

References
herein to the term “Company” shall include any of the Company’s direct or indirect parent, subsidiary
and affiliated companies, and their respective successors and assigns.

 

	1.	Confidentiality.

 

	1.1.	Consultant
    acknowledges that the Consultant may have access to information that relates to the Company, its business, assets, financial
    condition, affairs, activities, plans and projections, customers, suppliers, partners, and other third parties with whom the
    Company agreed or agrees, from time to time, to hold information of such party in confidence (the “Confidential Information”).
    Confidential Information shall include, without limitation, information, whether or not marked or designated as confidential,
    concerning technology, products, research and development, patents, copyrights, inventions, trade secrets, test results, formulae,
    processes, data, know-how, marketing, promotion, business and financial plans, policies, practices, strategies, surveys, analyses
    and forecasts, financial information, customer lists, agreements, transactions, undertakings and data concerning employees,
    consultants, officers, directors, and shareholders. Confidential Information includes information in any form or media, whether
    documentary, written, oral, magnetic, electronically transmitted, through presentation or demonstration or computer generated.
    Confidential Information shall not include information that: (i) has become part of the public domain not as a result of a
    breach of any obligation owed by the Consultant to the Company; or (ii) is required to be disclosed by law or the binding
    rules of any governmental organization, provided, however, that Consultant gives the Company prompt notice thereof so that
    the Company may seek a protective order or other appropriate remedy, and further provided, that in the event that such protective
    order or other remedy is not obtained, Consultant shall furnish only that portion of the Confidential Information which is
    legally required, and shall exercise all reasonable efforts required to obtain confidential treatment for such information.
	 	 
	1.2.	Consultant
    acknowledges and understands that the engagement by the Company and the access to Confidential Information creates a relationship
    of confidence and trust with respect to such Confidential Information.
	 	 
	1.3.	During
    the term of the Consultant’s engagement and at any time after termination or expiration thereof, for any reason, the
    Consultant shall keep in strict confidence and trust, shall safeguard, and shall not disclose to any person or entity, nor
    use for the benefit of any party other than the Company, any Confidential Information, other than with the prior express consent
    of the Company.
	 	 
	1.4.	All
    right, title and interest in and to Confidential Information are and shall remain the sole and exclusive property of the Company
    or of the third party providing such Confidential Information to the Company, as the case may be. Without limitation of the
    foregoing, Consultant agrees and acknowledges that all memoranda, books, notes, records, email transmissions, charts, formulae,
    specifications, lists and other documents (contained on any media whatsoever) made, reproduced, compiled, received, held or
    used by Consultant in connection with the engagement by the Company or that otherwise relates to any Confidential Information
    (the “Confidential Material”), shall be the Company’s sole and exclusive property and shall be deemed
    to be Confidential Information. All originals, copies, reproductions and summaries of the Confidential Material shall be delivered
    by Consultant to the Company upon termination or expiration of Consultant’s engagement for any reason, or at any earlier
    time at the request of the Company, without the Consultant retaining any copies thereof.

 

    	 

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	1.5.	During
    the term of Consultant’s engagement with the Company, Consultant shall not remove from the Company’s offices or
    premises any Confidential Material unless and to the extent necessary in connection with the duties and responsibilities of
    Consultant and permitted pursuant to the then applicable policies and regulations of the Company. In the event that such Confidential
    Material is duly removed from the Company’s offices or premises, Consultant shall take all actions necessary in order
    to secure the safekeeping and confidentiality of such Confidential Material and return the Confidential Material to their
    proper files or location as promptly as possible after such use.
	 	 
	1.6.	During
    the term of the Consultant’s engagement with the Company, Consultant will not improperly use or disclose any proprietary
    or confidential information or trade secrets, and will not bring onto the premises of the Company any unpublished documents
    or any property, belonging to any former employer or any other person to whom Consultant has an obligation of confidentiality
    and/or non-use (including, without limitation, any academic institution or any entity related thereto), unless generally available
    to the public or consented to in writing by that person. 

 

	2.	Unfair
    Competition and Solicitation. 

 

	2.1.	Consultant
    undertakes that during the term of engagement with the Company Consultant shall not engage, establish, open or in any manner
    whatsoever become involved, directly or indirectly, either as an employee, owner, partner, agent, shareholder, director, consultant
    or otherwise, in any business, occupation, work or any other activity which competes with the business of the Company.
	 	 
	2.2.	Consultant
    undertakes that for a period of twelve (12) months following termination of the Consultant’s engagement with the Company
    for whatever reason Consultant shall not engage, establish, open or in any manner whatsoever become involved, directly or
    indirectly, either as an employee, owner, partner, agent, shareholder, director, consultant or otherwise, in any business,
    occupation, work or any other activity which is reasonably likely to involve or require the use of any of the Company’s
    Major Assets, as defined below. The Consultant confirms that engagement, establishment, opening or involvement, directly or
    indirectly, either as an employee, owner, partner, agent, shareholder, director, consultant or otherwise, in any business,
    occupation, work or any other activity which competes with the business of the Company as conducted during the term of engagement
    or contemplated, during such term, to be conducted, is likely to require the use of all or a portion of the Company’s
    Major Assets.
	 	 
	2.3.	The
    Consultant undertakes that during the term of engagement with the Company and for a period of twelve (12) months thereafter:
    (i) Consultant shall not, directly or indirectly, solicit, hire or retain as an employee, consultant or otherwise, any employee
    of the Company or induce or attempt to induce any such employee to terminate or reduce the scope of such employee’s
    engagement with the Company; and (ii) Consultant shall not, directly or indirectly, solicit or induce, or attempt to solicit
    or induce, any consultant, service provider, agent, distributor, customer or supplier of the Company to terminate, reduce
    or modify the scope of such person’s engagement with the Company.
	 	 
	2.4.	The
    Consultant acknowledges that in view of Consultant’s exposure to, and involvement in, the Company’s sensitive
    and valuable proprietary information, property (including, intellectual property) and technologies, as well as its goodwill
    and business plans (the “Company’s Major Assets”), the provisions of this Section ‎2 above are
    reasonable and necessary to legitimately protect the Company’s Major Assets, and are being undertaken by Consultant
    as a condition to the engagement of Consultant by the Company. Consultant confirms that Consultant has carefully reviewed
    the provisions of this Section 2, fully understands the consequences thereof, and has assessed the respective advantages and
    disadvantages to Consultant of entering into this Undertaking and, specifically, Section 2 hereof. 

 

    	 

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	3.	Ownership
    of Inventions.

 

	3.1.	The
    Consultant will notify and disclose in writing to the Company, or any persons designated by the Company from time to time,
    all information, improvements, inventions, trademarks, works of authorship, designs, trade secrets, formulae, processes, techniques,
    know-how, and data, whether or not patentable or registerable under copyright or any similar laws, made or conceived or reduced
    to practice or learned by Consultant, either alone or jointly with others, during Consultant’s engagement with the Company
    (all such information, improvements, inventions, trademarks, works, designs, trade secrets, formulae, processes, techniques,
    know-how, and data are hereinafter referred to as the “Invention(s)”) immediately upon discovery, receipt
    or invention as applicable. 
	 	 
	3.2.	The
    Consultant agrees that all the Inventions are, upon creation, Inventions of the Company, shall be the sole property of the
    Company and its assignees, and the Company and its assignees shall be the sole owner of all title, rights and interest in
    and to any patents, copyrights, trade secrets and all other rights of any kind or nature, including moral rights, in connection
    with such Inventions. Consultant hereby irrevocably and unconditionally assigns to the Company all the following with respect
    to any and all Inventions: (i) all title, rights and interest in and to any patents, patent applications, and patent rights,
    including any and all continuations or extensions thereof; (ii) rights associated with works of authorship, including copyrights
    and copyright applications, Moral Rights (as defined below) and mask work rights; (iii) rights relating to the protection
    of trade secrets and confidential information; (iv) design rights and industrial property rights; (v) any other proprietary
    rights relating to intangible property including trademarks, service marks and applications thereof, trade names and packaging
    and all goodwill associated with the same; (vi) any and all title, rights and interest in and to any Invention; and (vii)
    all rights to sue for any infringement of any of the foregoing rights and the right to all income, royalties, damages and
    payments with respect to any of the foregoing rights. Consultant also hereby forever waives and agrees never to assert any
    and all Moral Rights Consultant may have in or with respect to any Inventions, even after termination of engagement on behalf
    of the Company. “Moral Rights” means any right to claim authorship of a work, any right to object to any
    distortion or other modification of a work, and any similar right, existing under the law of any country in the world, or
    under any treaty.
	 	 
	3.3.	The
    Consultant further agrees to perform, during and after the term of Consultant’s engagement with the Company, all acts
    deemed reasonably necessary or desirable by the Company to permit and assist it, at the Company’s expense, in obtaining,
    maintaining, defending and enforcing the Inventions in any and all countries. Such acts may include, but are not limited to,
    execution of documents and assistance or cooperation in legal proceedings. Consultant hereby irrevocably designates and appoints
    the Company and its duly authorized officers and agents, as Consultant’s agents and attorneys-in-fact to act for and
    on Consultant’s behalf and instead of Consultant, to execute and file any documents and to do all other lawfully permitted
    acts to further the above purposes with the same legal force and effect as if executed by Consultant.
	 	 
	3.4.	The
    Consultant shall not be entitled to any monetary consideration or any other consideration except as explicitly set forth in
    the Consulting Agreement. Without limitation of the foregoing, Consultant irrevocably confirms that the consideration explicitly
    set forth in the Consulting Agreement is in lieu of any rights for compensation that may arise in connection with the Inventions
    under applicable law and waives any right to claim royalties or other consideration with respect to any Invention, including
    under Section 134 of the Israeli Patent Law - 1967. Any oral understanding, communication or agreement with respect to the
    matters set forth herein, not memorialized in writing and duly signed by the Company, shall be void.

 

    	 

    	- 12 - 

    

 

	4.	General.

 

	4.1.	The
    Consultant represents that the performance of all the terms of this Undertaking and Consultant’s duties as a consultant
    of the Company does not and will not breach any invention assignment, proprietary information, non-compete, confidentiality
    or similar agreements with, or rules, regulations or policies of, any other party (including, without limitation, any academic
    institution or any entity related thereto). Consultant acknowledges that the Company is relying upon the truthfulness and
    accuracy of such representations in its decision to engage with the Consultant.
	 	 
	4.2.	The
    Consultant acknowledges that the provisions of this Undertaking serve as an integral part of the terms of the Consulting Agreement
    and reflect the reasonable requirements of the Company in order to protect its legitimate interests with respect to the subject
    matter hereof.
	 	 
	4.3.	The
    Consultant recognizes and acknowledges that in the event of a breach or threatened breach of this Undertaking by Consultant,
    the Company may suffer irreparable harm or damage and will, therefore, be entitled to injunctive relief to enforce this Undertaking
    (without limitation to any other remedy at law or in equity).
	 	 
	4.4.	This
    Undertaking is governed by and construed in accordance with the laws of the State of Israel, without giving effect to its
    laws pertaining to conflict of laws. Any and all disputes in connection with this Undertaking shall be submitted to the exclusive
    jurisdiction of the competent courts or tribunals, as relevant, located in the city of Tel-Aviv-Jaffa, Israel.
	 	 
	4.5.	If
    any provision of this Undertaking is determined by any court of competent jurisdiction to be invalid, illegal or unenforceable
    in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If
    such clause or provision cannot be so enforced, such provision shall be stricken from this Undertaking only with respect to
    such jurisdiction in which such clause or provision cannot be enforced, and the remainder of this Undertaking shall be enforced
    as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained
    in this Undertaking. In addition, if any particular provision contained in this Undertaking shall for any reason be held to
    be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing
    the scope of such provision so that the provision is enforceable to the fullest extent compatible with applicable law.
	 	 
	4.6.	The
    provisions of this Undertaking shall continue and remain in full force and effect following the termination or expiration
    of the engagement between the Company and Consultant, for whatever reason. This Undertaking shall not serve in any manner
    so as to derogate from any of Consultant’s obligations and liabilities under any applicable law.
	 	 
	4.7.	This
    Undertaking constitutes the entire agreement between Consultant and the Company with respect to the subject matter hereof
    and supersedes all prior agreements, proposals, understandings and arrangements, if any, whether oral or written, with respect
    to the subject matter hereof. No amendment, waiver or modification of any obligation under this Undertaking will be enforceable
    unless set forth in a writing signed by the Company. No delay or failure to require performance of any provision of this Undertaking
    shall constitute a waiver of that provision as to that or any other instance. No waiver granted under this Undertaking as
    to any one provision herein shall constitute a subsequent waiver of such provision or of any other provision herein, nor shall
    it constitute the waiver of any performance other than the actual performance specifically waived.
	 	 
	4.8.	This
    Undertaking, the rights of the Company hereunder, and the obligations of Consultant hereunder, will be binding upon and inure
    to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company
    may assign any of its rights under this Undertaking. Consultant may not assign, whether voluntarily or by operation of law,
    any of Consultant’s obligations under this Undertaking, except with the prior written consent of the Company. 

 

IN
WITNESS WHEREOF, the undersigned, has executed this Undertaking as of the date first mentioned above.

 

	Printed
    Name:	Prof.
    Benad Goldwasser 	 	Signature:Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”) is dated as of December 24, 2019, between Bespoke Extracts, Inc., a Nevada corporation
(the “Company”), and Anthony Ivankovich, an individual (the “Purchaser”).

 

WHEREAS, subject
to the terms and conditions set forth in this Agreement and pursuant to an exemption from the registration requirements of Section
5 of the Securities Act contained in Section 4(a)(2) thereof, the Company desires to issue and sell to the Purchaser, and Purchaser
desires to purchase from the Company, securities of the Company as more fully described in this Agreement.

 

NOW, THEREFORE,
IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt
and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1
Definitions. In addition to the terms defined elsewhere in this Agreement the following terms have the meanings set forth in
this Section 1.1:

 

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“Closing”
means the closing of the purchase and sale of the Debenture and the Shares pursuant to Section 2.1 hereof.

 

“Closing Date”
means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto,
and all conditions precedent to (i) the Purchaser’s obligations to pay the Purchase Price and (ii) the Company’s obligations
to deliver the Debenture and the Shares, in each case, have been satisfied or waived, subject to the provisions of Section 2.1.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Debenture”
has the meaning ascribed to such term in Section 2.1 hereof.

 

“Debenture
Shares” means the shares of Common Stock issuable upon conversion of the Debenture.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“SEC Reports”
shall have the meaning ascribed to such term in Section 3.2(d) hereof.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Securities”
means the Debenture, the Shares, and the Debenture Shares.

 

     

     

    

 

“Security
Agreement” means the security agreement, dated on or about the date hereof, between the Company and the Purchaser, in
the form of Exhibit B hereto.

 

“Shares”
has the meaning ascribed to such term in Section 2.2 hereof.

 

“Trading Day”
means a day on which the principal Trading Market is open for trading.

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange
or any tier of the OTC Markets operated by the OTC Markets Group, Inc. (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, the Debenture, the Security Agreement, and any other documents executed in connection
with the transaction contemplated hereunder.

 

“Transfer
Agent” means Corporate Stock Transfer, the current transfer agent of the Company, and any successor transfer agent of
the Company.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing.
On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution
and delivery of this Agreement by the parties hereto, the Company shall sell to the Purchaser, and the Purchaser shall purchase
from the Company, the original issue discount convertible debenture, in the form of Exhibit A hereto (the “Debenture”)
in the principal amount of $500,000 for a purchase price of $300,000 (the “Purchase Price”). At or prior to
the Closing, the Company and the Purchaser shall deliver the other items set forth in Section 2.2, hereof. Upon satisfaction of
the covenants and conditions set forth in Sections 2.2 and 2.3, hereof, the Closing shall occur at the offices of the Company or
such other location as the parties shall mutually agree.

 

2.2 Deliveries.

 

		(a)	On or prior to the Closing Date (except as otherwise set forth below), the Company shall deliver
to the Purchaser:

 

		(i)	This Agreement duly executed by the Company.

 

		(ii)	A copy of the Debenture duly executed by the Company, with delivery of the original to follow to
the address set forth on the signature page hereto within 5 Business Days of the Closing Date.

 

		(iii)	The Security Agreement duly executed by the Company.

 

		(iv)	As additional consideration for the purchase of the Debenture by the Purchaser, 5,000,000 shares
of common stock of the Company (the “Shares”), delivered to the address set forth on the signature page hereto within
5 Business Days of the Closing Date.

 

		(b)	On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company:

 

		(i)	This Agreement duly executed by the Purchaser.

 

		(ii)	Payment of the Purchase Price by wire of immediately available funds.

 

		(iii)	The Purchase Agreement duly executed by the Purchaser.

 

2.3 Closing
Conditions.

 

(a) The
obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

    - 2 -

     

    

 

		(i)	the accuracy in all material respects on the Closing Date of the representations and warranties
of the Purchaser contained herein (unless as of a specific date therein in which case they shall be accurate as of such date)

 

		(ii)	all obligations, covenants and agreements of the Purchaser required to be performed at or prior
to the Closing Date shall have been performed; and

 

		(iii)	the delivery by the Purchaser of the item set forth in Section 2.2(b) hereof.

 

(b) The
obligation of the Purchaser hereunder in connection with the Closing are subject to the following conditions being met:

 

		(i)	the accuracy in all material respects when made and on the Closing Date of the representations
and warranties of the Company contained herein (unless as of a specific date therein);

 

		(ii)	all obligations, covenants and agreements of the Company required to be performed at or prior to
the Closing Date shall have been performed;

 

		(iii)	from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended
by the Commission or the Company’s principal Trading Market, and, at any time prior to the Closing Date, trading in securities
generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established
on securities whose trades are reported by such service, or on any Trading Market; and

 

		(iv)	the delivery by the Company of the items set forth in Section 2.2(a) hereof.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to the Purchaser:

 

(a) The
Company is a corporation, validly existing and in good standing under the laws of Nevada.

 

(b) 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. The execution and delivery of this Agreement by the Company and the consummation
by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the
Company.

 

(c) The
execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Securities and the consummation
by it of the transactions contemplated hereby party do not and will not conflict with or violate any provision of the Company’s
articles of incorporation or other organizational or charter documents. The Shares, upon issuance in accordance with this Agreement,
will be duly issued, fully paid, and nonassessable.

 

3.2 Representations
and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date
to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such date):

 

(a) Authority.
Each Transaction Document to which Purchaser is a party has been duly executed by the Purchaser, and when delivered by the Purchaser
in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against
it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii)
as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii)
insofar as indemnification and contribution provisions may be limited by applicable law.

 

    - 3 -

     

    

 

(b) Understandings
or Arrangements. The Purchaser is acquiring the Securities as principal for its own account and has no direct or indirect arrangement
or understandings with any other persons to distribute or regarding the distribution of such Securities. The Purchaser is acquiring
the Securities hereunder in the ordinary course of its business.

 

(c) Purchaser
Status. At the time the Purchaser was offered the Securities, it was, and as of the date hereof it is an “accredited
investor” as defined in Rule 501(a) under the Securities Act.

 

(d) Experience
of the Purchaser. The Purchaser, 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. The Purchaser understands that an investment in
the Securities involves a high degree of risk, including the risks set forth in the Company’s filings with the Commission
under the Exchange Act since January 1, 2018 (the “SEC Reports”). The Purchaser is able to bear the economic risk of
an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e) Access
to Information. The Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including all
exhibits and schedules thereto) and the SEC Reports and has been afforded, (i) the opportunity to ask such questions as it has
deemed necessary, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering
of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company and its
financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate
its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without
unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.

 

(f) Restricted
Securities. The Purchaser understands that the Securities are restricted securities within the meaning of the Securities Act,
have not been registered under the Securities Act or any state securities laws and may not be transferred or sold except pursuant
to an effective registration statement or an available exemption therefrom.

 

ARTICLE IV.

MISCELLANEOUS

 

4.1 Expenses.
The Company shall pay all Transfer Agent fees (including, without limitation, any fees required for same-day processing of any
instruction letter delivered by the Company), stamp taxes and other taxes and duties levied in connection with the delivery of
the Securities to the Purchaser other than income and capital gains taxes of the Purchaser that may be incurred in connection with
the transactions contemplated hereby.

 

4.2 Entire
Agreement. The Transaction Documents contain the entire understanding of the parties with respect to the subject matter hereof
and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties
acknowledge have been merged into such documents, exhibits and schedules.

 

4.3 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile or e-mail at the facsimile number or e-mail address set forth on the signature pages attached hereto at or prior
to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile or e-mail at the facsimile number or e-mail address set forth on the signature pages attached
hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd)
Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt
by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth
on the signature pages attached hereto.

 

    - 4 -

     

    

 

4.4 Amendments;
Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed
by the Company and the Purchaser. 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 any party to exercise any right hereunder in any manner impair
the exercise of any such right.

 

4.5 Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

 

4.6 Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns. Neither the Purchaser nor the Company may assign this Agreement or any rights or obligations hereunder without the prior
written consent of the other party (other than by operation of law).

 

4.7 Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall
be governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles
of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto
or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively
in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper
or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action or
proceeding to enforce any provisions of the Transaction Documents, then the prevailing party in such action, suit or proceeding
shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such action or proceeding.

 

4.8 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Debenture and the Shares.

 

4.9 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

4.10 Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

    - 5 -

     

    

 

4.11 Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Purchaser
and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages
may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents
and hereby agree to waive and not to assert in any action for specific performance of any such obligation the defense that a remedy
at law would be adequate.

 

4.12 Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

4.13 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and
every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse
and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after
the date of this Agreement.

 

4.14 No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise
set forth in Section 4.6 hereof.

 

4.15 Replacement
of Securites. If any certificate or instrument evidencing any Securiteis is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or
in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall
also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Securities.

 

[Signature Pages Follow]

 

    - 6 -

     

    

 

IN WITNESS WHEREOF,
the the undersigned has duly executed this Securities Purchase Agreement as of the date first indicated above.

 

	BESPOKE
    EXTRACTS, INC.	 
	 	 
	By:	/s/
    Niquana Noel	 
	 	Name:
    Niquana Noel	
	 	Title:
    Chief Executive Officer	

 

Address
for Notice:

 

323 Sunny
Isles Boulevard, Suite 700

Sunny Isles
Beach, FL 33160

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE
PAGE FOR PURCHASER FOLLOWS]

 

    - 7 -

     

    

 

[PURCHASER
SIGNATURE PAGE TO BESPOKE EXTRACTS, INC. SECURITIES PURCHASE AGREEMENT]

 

IN WITNESS
WHEREOF, the undersigned has duly executed this Securities Purchase Agreement as of the date first indicated above.

 

	/s/ Anthony
    Ivankovich	 
	Anthony Ivankovich	 

 

Address for Notice:

 

Anthony Ivankovich

 

Address
for delivery of Securities (if different from address for notice):

 

SS #:

 

    - 8 -

     

    

 

Exhibit
A

 

Form of Debenture

 

[See Exhibit 10.2]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    - 9 -

     

    

 

Exhibit B

 

Form of Security
Agreement

 

[See Exhibit 10.3]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-
10 -

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