Document:

Exhibit 10.76

 

BILL OF SALE

 

Twinlab Corporation (“Twinlab”)
is a wholly-owned subsidiary of Twinlab Consolidation Corporation (“TCC”) and a sister company of NutraScience Labs,
Inc. (“NSL”), also a wholly-owned subsidiary of TCC. In connection with an acquisition of assets on February 6, 2015,
NSL is an obligor on that certain Amended & Restated Unsecured Promissory Note of even date herewith to Nutricap Labs, LLC
(“Nutricap”) in the principal amount of $2,750,000 and with a stated maturity date of January 1, 2016 (the “Note”).

 

IN CONSIDERATION of the
sale pursuant hereto by Twinlab to Essex Capital Corporation (“Essex”) of the machinery and equipment listed on Exhibit
A hereto as well as Twinlab’s agreement to lease that machinery and equipment from Essex pursuant to and on the terms set
forth in one or more Commercial Lease Agreements between Twinlab and Essex of equal date herewith (the “Leases”), Essex
hereby irrevocably agrees (i) to enter into a guaranty agreement with Nutricap, in substantially the form attached hereto as Exhibit
B, and (ii) to make on behalf of NSL all payments as and when due to Nutricap under the Note, including both the monthly payments
set forth in Schedule A to the Note as well as payment in full of all accrued interest and unamortized principal due and owing
to Nutricap as of the January 1, 2016 maturity date.

 

IN CONSIDERATION of Essex’s
agreements as set forth above, which for the purposes hereof the parties hereto agree shall be valued as a purchase price of $2,900,000
(equal to the original principal amount of the Leases), constituting good and valuable consideration the receipt and sufficiency
of which are hereby acknowledged, Twinlab as seller, and with an address at 600 East Quality Drive, American Fork, UT 84003, does
hereby sell, transfer, and convey to Essex as buyer, with an address at 1486 East Valley Road, Santa Barbara, CA 93108, all right,
title and interest in and to the equipment and other assets listed in Exhibit A hereto, which is incorporated herein by reference
(the “Equipment”), and all appurtenant rights relating thereto.

 

Twinlab represents and
warrants to Essex that: (i) Twinlab is the sole and lawful owner of the Equipment; (ii) Twinlab is hereby transferring to Essex
good and marketable title to all of the Equipment, free and clear of any claim, charge, encumbrance, covenant, security interest,
lien, option, pledge, rights of others, or restriction, whether imposed by agreement, understanding, law, equity or otherwise (each,
an “Encumbrance”); (iii) all of such Equipment is in good operating condition, normal wear and tear excepted; (iv)
all of the Equipment is located at Twinlab’s facility at 600 East Quality Drive, American Fork, UT 84003; (v) the sale of
the Equipment and the execution, delivery and performance of this Bill of Sale and any related agreements by Twinlab has been duly
and validly authorized by all necessary corporate action on the part of Twinlab; (vi) neither the sale of the Equipment nor the
execution, delivery and performance of this Bill of Sale or any related agreements by Twinlab will violate, or constitute a breach
or default (whether upon lapse of time and/or the occurrence of any act or event or otherwise) under, the charter documents of
Twinlab or any contract, document or instrument by which it is bound, or result in the imposition of any Encumbrance against any
of the Equipment, or violate any statute or other law, rule, regulation, or interpretation of any governmental entity; (vii) neither
the sale of the Equipment nor the execution, delivery and performance of this Bill of Sale or any related agreements by Twinlab
requires the approval or consent of any governmental entity or any other third party, other than those consents previously received
in writing and provided by Twinlab to Essex; (viii) neither the sale of the Equipment nor the execution, delivery and performance
of this Bill of Sale or any related agreements by Twinlab requires any filing or registration with any governmental entity, except
for any filings with the Securities and Exchange Commission (“SEC”) by Twinlab’s ultimate parent company, Twinlab
Consolidated Holdings, Inc. (“TCH”), a publicly traded company, that TCH determines in its sole discretion is required
to be filed pursuant to applicable SEC regulation; (ix) there is no action, complaint or other legal proceeding pending, or, to
the best knowledge of Twinlab, threatened, that might reasonably be expected to have an adverse effect on the Equipment or on Twinlab’s
ability to transfer the Equipment, or on any aspect of the transactions contemplated by this Bill of Sale; (x) Twinlab and its
affiliated entities are financially solvent and will not be rendered insolvent by the transactions contemplated by this Bill of
Sale or any related agreements; (xi) all financial statements of Twinlab and its affiliated entities provided to Essex present
fairly the financial condition and results of operations of such entities for the periods covered in all material respects; and
(xii) since the most recent date of the financial statements provided to Essex, there has not been, occurred or arisen any change
in or event affecting Twinlab, its business, or the Equipment that has had or may reasonably be expected to have a material adverse
effect on Twinlab, its business, or the Equipment.

 

    	 

    	 

    

 

Twinlab agrees to indemnify,
defend and hold harmless Essex and its directors, officers, employees, affiliates, agents and assigns from and against any and
all actions, costs, damages, disbursements, expenses, liabilities, losses, deficiencies, diminution in value, obligations, penalties
or settlements of any kind or nature, whether foreseeable or unforeseeable, including but not limited to, interest, legal, accounting
and other professional fees and expenses that may be imposed on or otherwise incurred or suffered by any of such persons or entities,
directly or indirectly, as a result of, or based upon or arising from any inaccuracy in or breach of any of the representations
or warranties made by Twinlab in this Bill of Sale.

 

EXCEPT AS SET FORTH IN
THIS BILL OF SALE, TWINLAB MAKES NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, REGARDING THE EQUIPMENT. WITHOUT LIMITING, THE
GENERALITY OF THE FOREGOING, TWINLAB DISCLAIMS ANY IMPLIED OR EXPRESSED WARRANTY OF MERCHANTIBILITY, FITNESS FOR PURPOSE, QUALITY,
CAPACITY, DESIGN, CONDITION, MATERIAL OR WORKMANSHIP, OR AS TO PATENT INFRINGMENT OR THE LIKE. THE SALE OF THE EQUIPMENT SHALL
BE ON AN “AS IS, WHERE IS” BASIS “WITH ALL FAULTS”. IN NO EVENT SHALL SELLER BE LIABLE TO BUYER FOR ANY
INCIDENTIAL OR CONSEQUENTIAL DAMAGES.

 

Twinlab hereby covenants
that, from time to time after the delivery of this instrument, at the request of Essex and without further consideration, Twinlab
will do, execute and deliver all and every such further acts, deeds, conveyances, assignments and assurances as reasonably may
be required more effectively to convey, transfer to and vest in Essex, any of the Equipment.

 

This instrument is executed
by, and shall be binding upon, Twinlab, its successors and assigns, effective immediately upon its delivery to Essex. This instrument
shall be governed by and construed in accordance with the laws of the State of California applicable to contracts made and performed
in such State, excluding any laws that direct the application of another jurisdiction’s laws.

 

(signatures on following page)

 

    	 

    	 

    

 

Dated this 30th day of June 2015.

 

	TWINLAB:	 	ESSEX:
	TWINLAB CORPORATION	 	ESSEX CAPITAL CORPORATION
	 	 	 	 	 
	BY: 	/s/ Tom Tolworthy	 	BY: 	/s/ Ralph T. Iannelli
	NAME: TOM TOLWORTHY	 	NAME:  RALPH T. IANNELLI
	TITLE:   PRESIDENT & CEO	 	TITLE:   PRESIDENT AND CEOExhibit 10.77

 

COMMERCIAL LEASE AGREEMENT

 

	LESSOR:	LESSEE:
	ESSEX CAPITAL CORPORATION	TWINLAB CORPORATION
	1486 EAST VALLEY ROAD	600 E. QUALITY DRIVE
	SANTA BARBARA, CA 93108	AMERICAN FORK, UT 84003

 

EQUIPMENT LOCATION: (If other than Address of Lessee
set forth above)     same as above       (“Equipment
Location”)

 

EQUIPMENT DESCRIPTION: As described on Addendum I attached
hereto and made a part hereof (“Leased Equipment”).

 

LEASE DATE: June 30, 2015 (“Lease Date”)

 

	 	 	 	 	MONTHLY	 	 	 	 	 	 
	LEASE TERM:	 	 	 	RENTAL:	 	 	FEES:	 	 	 
	36 Months	 	Amount:	 	$	89,381.72	 	 	Documentation Fee:	 	$	300.00	 
	 	 	Tax:	 	$		 	 	Filing Fee:	 	$	75.00	 
	 	 	Total	 	 	 	 	 	Other:	 	$		 
	 	 	Rentals =	 	$		 	 	(Less amounts received)	 	$		 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	SECURITY DEPOSIT:	 	$	 			 	 	TOTAL FEES	 	$		 

 

FIRST PAYMENT DUE: June 30, 2015

 

 

 THIS LEASE IS A NON-CANCELABLE LEASE 

 

 

1. AGREEMENT TO LEASE. Lessor agrees
to lease to Lessee, and Lessee agrees to lease from Lessor, subject to the terms of this lease agreement (“Lease Agreement”
or “Lease”) and any schedules or addenda attached hereto, the Leased Equipment identified above or in
the attached schedules or addenda. Lessor may insert in this Lease Agreement the serial numbers, and other identification data,
of the Leased Equipment when determined by Lessor. The Leased Equipment shall be installed at, and shall not be removed from the
Equipment Location identified above without Lessor’s written consent. Equipment required to be registered under applicable
state vehicle laws shall not be removed from the state of registration without the Lessor’s written consent. The lease term
shall commence upon the Lease Date and shall continue for the thirty-six (36) month term referenced above (the “Initial
Term”, and if extended pursuant to the terms and conditions herein, the “Term”). This Lease
Agreement shall have no effect prior to the execution of this Lease Agreement by both parties. This Lease Agreement is not subject
to cancellation for any reason.

 

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2. STATUS OF PARTIES, WARRANTIES AND
DEFENSES. This is a finance lease (California Uniform Commercial Code Section 10103 (a)(7)). Lessee has selected the Leased
Equipment from the supplier of the Leased Equipment (the “Supplier”). Lessor has not manufactured or
supplied the Leased Equipment but is acquiring the same or the right to possession and use of the same solely in connection with
this Lease Agreement, and at the request of Lessee. Lessee acknowledges that Lessee has received copies of all contracts evidencing
the purchase of the Leased Equipment and the rights with respect thereto.

 

Lessee’s sole remedy in the event
of a claimed breach of warranty or other defect in or failure of the Leased Equipment shall be in accordance with the Supplier’s
warranty. Lessee covenants not to assert any claim against Lessor on account of any alleged defect or failure of the Leased Equipment
and Lessee may not withhold or fail to pay any installments due to Lessor hereunder.

 

LESSOR LEASES THE LEASED EQUIPMENT “AS
IS,” AND BEING NEITHER THE MANUFACTURER OF THE LEASED EQUIPMENT NOR THE AGENT OF EITHER THE MANUFACTURER OR SELLER, LESSOR
DISCLAIMS ANY REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THE CONDITION OR PERFORMANCE OF THE LEASED
EQUIPMENT, ITS MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR WITH RESPECT TO PATENT INFRINGEMENTS OR THE LIKE. LESSOR
SHALL HAVE NO LIABILITY TO LESSEE OR ANY OTHER PERSON FOR ANY CLAIM, LOSS OR DAMAGE OF ANY KIND OR NATURE WHATSOEVER, NOR SHALL
THERE BE ANY ABATEMENT OF RENTAL FOR ANY REASON INCLUDING CLAIMS ARISING OUT OF OR IN CONNECTION WITH (i) THE DEFICIENCY OR INADEQUACY
OF THE LEASED EQUIPMENT FOR ANY PURPOSE, WHETHER OR NOT KNOWN OR DISCLOSED TO LESSOR, (ii) ANY DEFICIENCY OR DEFECT IN THE LEASED
EQUIPMENT, (iii) THE USE OR PERFORMANCE OF THE LEASED EQUIPMENT, OR (iv) ANY LOSS OF BUSINESS OR OTHER CONSEQUENTIAL LOSS OR DAMAGE,
WHETHER OR NOT RESULTING FROM ANY OF THE FOREGOING.

 

3. PAYMENT. Lessee promises and
agrees to pay all rental installments on the date designated by Lessor and to pay such other charges as are herein provided. Payments
of rental installments for each month during the Term shall be payable at the office of Lessor, or to such other person and/or
at such other place as Lessor may from time to time designate in writing. Lessor may apply remittances received to unpaid rental
installments and/or charges on a due date basis, remittance received being applied to the oldest unpaid rental installment or charge.

 

The Lease is a net lease, it being the
intention of the parties that all costs, expenses and liabilities associated with the Leased Equipment or its lease shall be borne
by Lessee. Lessee’s agreement to pay all obligations under the Lease, including but not limited to the rental installments,
is absolute and unconditional and such agreement is for the benefit of Lessor and its assignees. Lessee’s obligations shall
not be subject to any abatement, deferment, reduction, setoff, defense, counterclaim or recoupment for any reason whatsoever.

 

In addition to the fees and payments specified
above, Lessee shall also deliver to Lessor concurrently with the execution hereof a Warrant to Purchase Common Stock of Lessee’s
indirect parent company, Twinlab Consolidated Holdings, Inc. (“TLCC”), in the form attached hereto as Addendum II.

 

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4. FINANCIAL AND EQUIPMENT CONDITION.
Lessor may inspect the Leased Equipment at any time during business hours upon reasonable notice, and Lessee agrees to keep the
Leased Equipment in good condition and repair (ordinary wear and tear excepted) at Lessee’s expense and house the same in
suitable shelter, and not to sell or otherwise dispose of the Leased Equipment or any accessories attached hereto. Lessee shall
cause the Leased Equipment to be maintained and serviced in accordance with the recommendations of the Supplier and otherwise in
accordance with sound and customary industry practices.

 

Lessor may rely upon TLCC’s and Lessee’s
financial statements and other documents filed with the Securities and Exchange Commission. Upon Lessor’s reasonably request,
Lessee will furnish Lessor with additional financial information of TLCC and Lessee, subject to Lessor’s agreement not to
disclose such financial information or trade in the stock of TLCC prior to the time such financial information becomes publicly
available.

 

5. OWNERSHIP. The parties
agree that this Lease Agreement creates a lease of personal property, rather than a security interest, within the meaning of California
Uniform Commercial Code Section 1203, and that the Initial Term is less than the remaining economic life of the Leased Equipment.
No title or right in the Leased Equipment shall pass to Lessee except the rights herein expressly granted. Plates or other markings
may be affixed to or placed on the Leased Equipment by Lessor or at Lessor’s reasonable request, by Lessee at Lessee’s
expense, indicating the Lessor is the owner thereof, and Lessee will not remove the same. Upon the termination of the Initial Term,
except as provided in paragraph 6 below, Lessee will immediately crate, insure, and ship the Leased Equipment and operating manuals
to whatever destination Lessor shall direct, all at Lessee’s expense, in as good condition as received less normal wear and
tear, said destination to be confirmed by Lessee prior to shipment. Lessee agrees to pay Lessor monthly rent at the rate specified
for the Term for any month or part thereof from the end of the Term until the Leased Equipment is shipped by Lessee. Said Leased
Equipment shall always remain and be deemed personal property even though attached to realty. Lessee shall maintain each unit of
Leased Equipment so that it may be removed from the building in which it is placed without material damage to the building. All
replacements, accessories, or capital improvements made to or placed in or upon said Leased Equipment shall become component parts
thereof and title thereto shall immediately vest in Lessor and shall be included under the terms hereof. Lessee agrees that Lessor
is authorized, at its option, to file financing statements or amendments thereto without the signature of Lessee with respect to
any or all of the Leased Equipment and, if a signature is required by law, then Lessee appoints Lessor as Lessee’s attorney-in-fact
for the purpose of executing any such financing statements and further agrees to pay the Lessor a reasonable documentation fee
to cover the expense of making such filing(s). Lessee further agrees to itself execute such documents and take such action, as
Lessor may reasonably request to protect Lessor and Lessor’s lenders and carve out the interest from any owner or encumbrancer
of the real property on which the Leased Equipment shall be installed or located, waiving any claim of interest in the Leased Equipment
and consenting to its removal upon the expiration or sooner termination of this Lease Agreement.

 

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If Lessee rents the Equipment Location
specified above, Lessee shall obtain a signed waiver from Lessee’s landlord (and, if applicable, from such landlord’s
mortgagee) in favor of Lessor substantially in the form attached hereto as Addendum III.

 

If Lessee has one or more secured lenders,
Lessee will, upon the request of Lessor, provide Lessor with a release of collateral relating to the Leased Equipment executed
by each such secured lender and file appropriate UCC financing statement amendments to delete the Leased Equipment from the financing
statements filed by each such secured lender.

 

6. EXPIRATION OF LEASE; PURCHASE OPTION.
At the expiration of the Initial Term, Lessee shall provide at least sixty (60) days prior written notice to Lessor of Lessee’s
intent to either (a) purchase the Leased Equipment pursuant to the purchase option set forth herein, (b) extend the Lease Agreement
for a specified period of time, which shall not be less than one year, at a monthly rental rate determined by the Lessor (in its
sole discretion) to be the fair market value rental rate for the Leased Equipment at such time; or (c) return the Leased Equipment
to the Lessor pursuant to Paragraph 5 above. In the event that notice is not given at least sixty (60) days prior to the expiration
of the Initial Term or any renewal or extension then in effect, then this Lease Agreement shall continue as a hold-over on a month-to
month basis, and Lessee shall continue to pay the monthly rent then required hereunder, until Lessee thereafter meets the sixty
(60) day prior written notice requirement. Nothing herein shall be deemed or construed as a waiver of Lessor’s rights and
remedies upon the expiration or termination of the Initial Term.

 

Provided that Lessee has complied in all
material respects with all the terms and conditions of this Lease Agreement, no default is continuing hereunder, and has paid in
full all amounts due under this Lease Agreement, including all lease payments and applicable taxes, then Lessee shall have the
option to purchase the Leased Equipment upon the expiration of the Initial Term or upon the expiration of any renewal or extension
as provided herein. Upon the proper exercise of this purchase option, including timely notice under this Paragraph 6, Lessee may
purchase all of the Leased Equipment for an amount equal to fifteen percent (15%) of the Leased Equipment’s $2,750,000 initial
purchase price by Lessor from Lessee pursuant to that certain Bill of Sale of equal date herewith, plus any applicable taxes, provided
that Lessor receives payment in full on or before the last day of the applicable term. Upon any such exercise of this purchase
option and payment in full, title to the Leased Equipment shall be transferred to Lessee free and clear of all liens, security
interests and other encumbrances created by Lessor and this Lease Agreement shall then terminate.

 

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7. ASSIGNMENT. Lessor may assign
this Lease Agreement, and any such assignee(s) may further assign this Lease Agreement, without notice to or consent of the Lessee.
Any such assignee shall succeed to all rights of the Lessor hereunder, and such assignee’s rights shall be free from all
defenses, set-offs or counter-claims of any kind which Lessee may be entitled to assert against Lessor other than for Lessee’s
right to use and possession of the Leased Equipment. Lessee hereby waives the right to assert any such defense, set-off or counter-claim
against any such assignees, it being understood that such assignees shall assume the obligations of the Lessor named herein. By
the foregoing waiver, Lessee does not waive the right to any defense, set-off, or counterclaim in may have against Lessor in the
event Lessor assigns this Lease pursuant to this provision.

 

LESSEE SHALL NOT ASSIGN, MORTGAGE OR HYPOTHECATE
THIS LEASE OR ANY INTEREST HEREIN, WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR AND ANY SUCH TRANSFER OR ASSIGNMENT WITHOUT SUCH
CONSENT WILL BE VOID. TITLE TO THE LEASED EQUIPMENT SUBJECT TO THIS LEASE IS RETAINED BY THE LESSOR AND LESSEE COVENANTS THAT IT
WILL NOT PLEDGE OR ENCUMBER THE EQUIPMENT IN ANY MATTER WHATSOEVER, NOR PERMIT ANY LIENS, CHARGES, OR ENCUMBRANCES TO ATTACH THERETO.

 

The provisions of this Lease Agreement
apply to and bind the heirs, executors, administration, successors and permitted assigns of the respective parties hereto.

 

8. INSURANCE. Lessee assumes the
entire risk of loss or damages to the Leased Equipment, whether or not covered by insurance, and no such loss shall relieve Lessee
of its obligations hereunder. Lessee agrees to keep the Leased Equipment insured and to provide proof of insurance to Lessor in
the Leased Equipment; to protect all interests of Lessor, at Lessee’s expense, against all risks of loss or damage from any
cause whatsoever for not less than the unpaid balance of the lease rentals due hereunder or eighty percent (80%) of the then current
value of said Leased Equipment, whichever is higher, and to purchase insurance in the amounts set forth in the attached Lessor’s
Insurance Requirements. During the Term of this Lease Agreement, Lessor and Lessor’s lenders shall be named as an additional
insured in all such insurance policies providing and as a loss payee as its interests may arise in the policies insuring the Leased
Equipment. Each policy shall expressly provide that said insurance as to Lessor and its assigns shall not be invalidated by any
acts, omissions or neglect of Lessee and cannot be canceled without thirty (30) days prior written notice to Lessor. As to each
policy, Lessee shall furnish Lessor a Certificate of Insurance and copy of policy from the insurer reflecting the coverage required
by this paragraph on or before the Lease Date. The proceeds of such insurance whether resulting from loss or damage or return of
premium or otherwise, shall be applied toward the replacement or repair of the Leased Equipment or the payment of Lessee’s
attorney-in-fact to make claim for, receive payment of and execute or endorse all documents, checks or drafts for loss or damage
or return premium under any insurance policy issued the Leased Equipment. If Lessee fails to maintain the insurance required by
this paragraph, Lessor may, but it is not obligated to, obtain insurance in such forms and amounts as it deems reasonable to protect
its interests and Lessee agrees to reimburse Lessor for all such costs together with interest at the rate provided herein upon
demand.

 

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9. INDEMNITY. Lessee shall, at its
sole cost and expense, indemnify, hold harmless and defend Lessor and its agents, employees, officers and directors from and against
any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney’s fees, arising
out of, connected with, resulting from or relating to the Leased Equipment or the condition, delivery, leasing, location, maintenance,
manufacture, operation, ownership, possession, purchase, repair, repossession, return, sale, selection, service or use thereof,
including without limitation (a) claims involving latent or other defects (whether or not discoverable by Lessee or Lessor),
(b) claims for trademark patent or copyright infringement, and (c) claims for injury or death to persons or damage to
property or loss of business or anticipatory profits, whether resulting from acts or omissions, including negligence, of Lessee
or Lessor or otherwise. Lessee shall give Lessor prompt written notice of any claims or liability covered by this paragraph. The
indemnities under this paragraph shall survive the satisfaction of all other obligations of Lessee herein and the termination of
this Lease Agreement.

 

10. TAXES AND FEES. Lessee agrees
to use, operate and maintain the Leased Equipment in accordance with all laws in all material respects; to pay all licensing and
registration fees for the Leased Equipment; to keep the same free of levies, liens and encumbrances; to show the Leased Equipment
as “leased equipment” on Lessee’s personal property tax returns; to pay all personal property taxes assessed
against equipment, which sum Lessee shall remit to the taxing authority; to pay all other federal, state and local taxes, assessments,
fees and penalties which may be levied or assessed on or in respect to the Leased Equipment or its use or any interest therein,
or rental payments thereon including but not limited to all sales and use taxes, however designated, levied or assessed upon the
Lessee and Lessor or either of them or said equipment, or upon the sale, ownership, use or operation thereof (other than those
measured by Lessor’s net income). Lessor may pay such taxes and other amounts and may file such returns on behalf of Lessee
if Lessee fails to do so as provided herein. Lessee agrees to reimburse Lessor for reasonable costs incurred in collecting any
charges, taxes, assessments or fees for which Lessee is liable hereunder.

 

11. ADVANCES. All advances made
and costs reasonably incurred by Lessor to preserve the Leased Equipment or to discharge and pay any taxes, assessments, fees,
penalties, liens or encumbrances thereon or to insure the Leased Equipment shall be added to the unpaid balance of rentals due
hereunder and shall be repayable by Lessee to Lessor immediately together with interest thereon at the rate of one and six tenths
(1.6%) percent per month (or, if lower, the highest rate then allowed by law) until paid.

 

12. DEFAULT. Lessee shall be in
default hereunder upon the occurrence of any of the following events (each a “Default”): (a) failure
of Lessee to pay any rental payment or other amount required hereunder when due; (b) failure of Lessee to perform any other obligation
hereunder or observe any other term or provision hereunder; (c) any representation or warranty made to Lessor by Lessee or by any
Guarantor proves to have been false in any material respect when made; (d) levy, seizure or attachment or other involuntary transfer
of the Leased Equipment; (e) a filing by or against Lessee under the provisions of any federal or state bankruptcy or insolvency
law or Lessee otherwise becomes subject to the provisions of such law, or assignment for benefit of creditors or bulk transfer
of assets by, or cessation of business, termination of existence, death or dissolution of, Lessee or any Guarantor; or (f) the
receipt by Lessor of a written notice from the landlord of the Equipment Location that (i) Lessee has vacated or abandoned the
Equipment Location, or (ii) any default by Lessee under its real property lease with such landlord has occurred and such landlord
intends to retake possession of the Equipment Location. As used herein, the term “Guarantor” shall include
any guarantor of this Lease Agreement and any owner of any property given as security for Lessee’s obligations hereunder.

 

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13. REMEDIES. If a Default hereunder
is continuing, Lessor may exercise any one or more of the following remedies without demand or notice to Lessee and without terminating
or otherwise affecting Lessee’s obligations hereunder; (i) accelerate the obligation of Lessee hereunder and, in such event,
shall be entitled to recover the sum of (a) delinquent lease payments with interest thereon at the legal rate, (b) the lease payments
that will become due in the future discounted to present value as of the date of entry of judgment at a rate equal to 80% of the
New York Prime Rate as published from time to time in the Wall Street Journal as of that date, and (c) the anticipated residual
value of the Leased Equipment; (ii) require Lessee to assemble the Leased Equipment and make it available to Lessor at a place
designated by Lessor, in its sole discretion; (iii) take and hold possession of the Leased Equipment from any premise where the
same may be located without liability to Lessee for any damage caused thereby; (iv) sell or lease the Leased Equipment or any part
thereof at public or private sale for cash, on credit or otherwise with or without representations or warranties, and upon such
commercially reasonable terms as shall be acceptable to Lessor; (v) use and occupy the Equipment Location for the purpose of taking,
holding, reconditioning, displaying, selling or leasing the Leased Equipment, without cost to Lessor or liability to Lessee; and
(vi) demand, sue for and recover from Lessee all sums due hereunder. Lessee shall be entitled to credit for net proceeds received
by Lessor upon sale or reletting of the Leased Equipment, if any, discounted to present value. Lessee shall also be liable for
all costs incurred by Lessor in retaking, protecting, and disposing of the Leased Equipment, including reasonable legal fees and
costs.

 

14. LATE CHARGE. In the event a
rent payment or personal property tax payment is not made when due hereunder, the Lessee promises to pay (1) a late charge to the
Lessor or its assigns not later than one month thereafter, in an amount calculated at the rate of five cents per one ($1.00) dollar
of each such delayed payment. The late charge and/or the interest payment set forth in this contract shall apply only when permitted
by law and, if not permitted by law, the late charges and/or interest payments shall be calculated at the maximum rate permissible
by law.

 

15. OMISSION. The omission by the
Lessor at any time to enforce any default or right reserved to it, or to require performance of any of the terms, covenants or
provisions hereof or the Lessee at any time designated, shall not be a waiver of any such default or right to which the Lessor
is entitled, nor shall it in any way affect the right of the Lessor to enforce such provisions thereafter. The Lessor may exercise
all remedies simultaneously, pursuant to the terms hereof and such action shall not operate to release the Lessee until the full
arrival of the rentals due and to become due and all other sums to be paid hereunder have been paid.

 

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16. AGREEMENT TO PAY NUTRICAP
NOTE. In connection with Lessor’s acquisition from Lessee of the Leased Equipment on the date hereof, Lessor irrevocably
agreed to make all payments as and when due to Nutricap Labs, LLC (“Nutricap”) by, and on behalf of, Lessor’s
sister company NutraScience Labs, Inc. (“NSL”) pursuant to that certain Amended & Restated Unsecured Promissory
Note of equal date herewith between NSL and Nutricap (the “Note”). Lessor hereby expressly agrees that if, and only
if, (i) Lessor fails to make any payment to Nutricap when due under the Note (after the expiration of any grace period or cure
period including, without limitation, the fifteen (15) business day periods set forth in Sections 2.01(a) and 2.01(b) of the Note),
and (ii) NSL or its immediate parent company Twinlab Consolidation Corporation (“TCC”), by virtue of TCC’s guaranty
of the Note, is required to and does make such payment to Nutricap, then (x) the remaining monthly rental installments hereunder
shall be adjusted by reducing the unamortized principal balance under this Lease on a dollar-for-dollar basis by the amount of
such payments, and (y) the “initial purchase price” shall be likewise reduced for purposes of the 15% repurchase option
under Section 6 of this Lease Agreement. In the event that the amounts paid by NSL or TCC under the Note (upon a failure by Lessor
to pay such amounts) exceed the unamortized principal balance remaining hereunder at such time, then Lessor shall be liable to
Lessee for the full amount of such excess, such cash payments not to exceed the lesser of (a) the total amount of payments made
by Lessee to Lessor pursuant to this Lease, and (b) an amount that when added to the amount of any reduction of unamortized principal
pursuant to this provision equals $2,750,000.

 

17. NOTICES. Any notice or other
communication to be given hereunder shall be in writing and shall be (as elected by the party giving such notice): (i) personally
delivered; (ii) transmitted by postage prepaid registered or certified mail, return receipt requested; (iii) deposited prepaid
with a nationally recognized overnight courier service; or (iv) transmitted by electronic mail via the Internet (with a copy of
such transmission delivered promptly thereafter by registered or certified mail or courier). Unless otherwise provided herein,
all notices shall be deemed to be effective on: (a) if delivered personally or by courier, the date of receipt (or if delivery
is refused, the date of such refusal); (b) if by electronic mail, the date transmitted to the appropriate electronic mail address
and an appropriate return receipt or telephone confirmation is received; or (c) if transmitted by registered or certified mail,
three (3) days after the date of posting. Any notice shall refer to this Agreement, including the specific paragraph under which
notice is being given. Notice hereunder shall be directed to a party at the address for such party set forth on this first page
of this Lease Agreement or to such other address or to such other person as either party shall have last designated by such notice
to the other party hereto.

 

18. GOVERNING LAW, VENUE, and JURY WAIVER.
This Agreement shall be governed and interpreted in accordance with the laws of the state of Lessor’s principal office which
is the State of California and any suit hereon shall be brought in the county of such office. To the extent permitted by law, the
parties waive their right to a jury trial.

 

19. INTEGRATION. It is specifically
understood and agreed that all understandings and agreements heretofore made between the parties hereto relative to this Lease
are merged in this Lease Agreement (including its addenda and schedules), which contains the entire agreement and understanding
of the parties hereto, and neither party relies upon any other statement or representation, except for the credit application and
financial statements of Lessee and any Guarantor provided in connection herewith. This Lease Agreement may not be modified or canceled
except by an instrument in writing signed by the Lessee and a corporate officer of the Lessor.

 

    	8

    	 

    

 

20. COUNTERPARTS. This Lease
Agreement (and any amendment hereto or any other document delivered pursuant hereto) may be executed in one or more counterparts
and, at such time as each party has signed and delivered at least one such counterpart to the other parties hereto, each counterpart
shall be deemed an original and, taken together, the counterparts shall constitute one and the same agreement. The transmission
of a counterpart signed with an electronic signature and the transmission of a facsimile, including in portable document format
(PDF), of any original signed counterpart by electronic mail shall both be treated for all purposes as the delivery of an original
signed counterpart.

 

21.LEGAL REPRESENTATION AND CONSTRUCTION.
Each party hereto has been represented by legal counsel in connection with the negotiation and drafting of this Lease Agreement
and any related documents. The parties acknowledge that each party and its counsel have reviewed and revised this Lease Agreement
and related documents, and that 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 this Agreement or any related documents. As used in this Agreement,
the terms “includes” or “including” shall mean “including, without limitation.” Wherever the
context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and
the singular form of nouns or pronouns shall include the plural and vice versa. Time is of the essence of this Lease Agreement.

 

This Lease is not effective nor accepted
until signed by an officer of Lessor, which is the last act necessary for the effectiveness of this Lease.

 

(signatures on following page)

 

    	9

    	 

    

 

IN WITNESS WHEREOF, each of the parties
has caused this Lease Agreement to be executed by its duly authorized officers.

 

LESSEE: TWINLAB CORPORATION

 

	By:	/s/ Thomas A. Tolworthy	 	Title: Chief Executive Officer 
	Date:	6/30/15	 	 
	 	 	 	 
	By:	/s/ Mark Jaggi	 	Title: Chief Financial Officer 
	Date:	6/30/15	 	 

 

Witness: ___________________________

 

Accepted by LESSOR: ESSEX CAPITAL CORPORATION

 

	By:	/s/ Ralph T. Iannelli	 	Title:	President
	Date: 	6/30/2015	 	 	 

 

[Signature Page to Commercial Lease Agreement]

 

    	10

    	 

    

  

	LESSEE: TWINLAB CORPORATION	 
	 	 	 
	By:	/s/ Thomas A. Tolworthy	 
	Title:	Chief Executive Officer	 
	Date:	6/30/15	 
	 	 	 
	By:	/s/ Mark Jaggi	 
	Title:	Chief Financial Officer	 
	Date:	6/30/15	 
	 	 	 
	LESSOR:   ESSEX CAPITAL CORPORATION	 
	 	 	 
	By:	/s/ Ralph T. Iannelli	 
	Title:	President	 
	Date:	6/30/2015	 

 

[Signature Page to Schedule of Leased
Equipment]

 

    	11

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