Document:

Exhibit 10.1

 

UP FINTECH HOLDING LIMITED

AMENDED AND RESTATED 2019 PERFORMANCE INCENTIVE
PLAN

Amended and Restated as of May 24, 2021

 

		1.	PURPOSE OF PLAN

 

The purpose of this UP Fintech Holding Limited Amended and
Restated 2019 Performance Incentive Plan (this “Plan”) of UP Fintech Holding Limited, an exempted company organized
under the Companies Law of the Cayman Islands, and its successors (the “Company”), is to promote the success of the
Company and to increase shareholder value by providing an additional means through the grant of awards to attract, motivate, retain and
reward selected employees and other eligible persons and to enhance the alignment of the interests of the selected participants with the
interests of the Company’s shareholders.

 

		2.	ELIGIBILITY

 

The Administrator (as such term is defined in Section 3.1)
may grant awards under this Plan only to those persons that the Administrator determines to be Eligible Persons.  An “Eligible
Person” is any person who is either: (a) an officer (whether or not a director) or employee of the Company or one of its
Subsidiaries; (b) a director of the Company or one of its Subsidiaries; or (c) an individual consultant or advisor who renders
or has rendered bona fide services (other than services in connection with the offering or sale of securities of the Company or one of
its Subsidiaries in a capital-raising transaction or as a market maker or promoter of securities of the Company or one of its Subsidiaries)
to the Company or one of its Subsidiaries and who is selected to participate in this Plan by the Administrator; provided, however, that
a person who is otherwise an Eligible Person under clause (c) above may participate in this Plan only if such participation would
not adversely affect either the Company’s eligibility to use Form S-8 to register under the Securities Act of 1933, as amended
(the “Securities Act”), the offering and sale of shares issuable under this Plan by the Company or the Company’s
compliance with any applicable laws.  An Eligible Person who has been granted an award (a “participant”) may, if otherwise
eligible, be granted additional awards if the Administrator shall so determine.  As used herein, “Subsidiary”
means any corporation or other entity a majority of whose outstanding voting shares or voting power is beneficially owned directly or
indirectly by the Company; and “Board” means the Board of Directors of the Company.

 

		3.	PLAN ADMINISTRATION

 

		3.1	The Administrator.  This Plan shall be administered
by and all awards under this Plan shall be authorized by the Administrator.  The “Administrator” means the Board
or one or more committees (or subcommittees, as the case may be) appointed by the Board or another committee (within its delegated authority)
to administer all or certain aspects of this Plan.  Any such committee shall be comprised solely of one or more directors or such
number of directors as may be required under applicable law.  A committee may delegate some or all of its authority to another committee
so constituted.  The Board or a committee comprised solely of directors may also delegate, to the extent permitted by applicable
law, to one or more officers of the Company, its authority under this Plan.  The Board may delegate different levels of authority
to different committees with administrative and grant authority under this Plan.  Unless otherwise provided in the organizing documents
of the Company or applicable charter of any Administrator: (a) a majority of the members of the acting Administrator shall constitute
a quorum, and (b) the vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent
of the members of the Administrator shall constitute action by the acting Administrator.

 

Award grants, and transactions in or involving awards, intended
to be exempt under Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), must
be duly and timely authorized by the Board or a committee consisting solely of two or more non-employee directors (as this requirement
is applied under Rule 16b-3 promulgated under the Exchange Act).  To the extent required by any applicable listing agency, this
Plan shall be administered by a committee composed entirely of independent directors (within the meaning of the applicable listing agency).

 

    

     

    

 

		3.2	Powers of the Administrator.  Subject to
the express provisions of this Plan, the Administrator is authorized and empowered to do all things necessary or desirable in connection
with the authorization of awards and the administration of this Plan (in the case of a committee or delegation to one or more officers,
within any express limits on the authority delegated to that committee or person(s)), including, without limitation, the authority to:

 

		(a)	determine eligibility and, from among those persons determined
to be eligible, determine the particular Eligible Persons who will receive an award under this Plan;

 

		(b)	grant awards to Eligible Persons, determine the price (if
any) at which securities will be offered or awarded and the number of securities to be offered or awarded to any of such persons (in
the case of securities-based awards), determine the other specific terms and conditions of awards consistent with the express limits
of this Plan, establish the installment(s) (if any) in which such awards shall become exercisable or shall vest (which may include,
without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or vesting is required, establish
any applicable performance-based exercisability or vesting requirements, determine the circumstances in which any performance-based goals
(or the applicable measure of performance) will be adjusted and the nature and impact of any such adjustment, determine the extent (if
any) to which any applicable exercise and vesting requirements have been satisfied, establish the events (if any) on which exercisability
or vesting may accelerate (which may include, without limitation, retirement and other specified terminations of employment or services,
or other circumstances), and establish the events (if any) of termination, expiration or reversion of such awards;

 

		(c)	approve the forms of any award agreements (which need not
be identical either as to type of award or among participants);

 

		(d)	construe and interpret this Plan and any agreements defining
the rights and obligations of the Company, its Subsidiaries, and participants under this Plan, make any and all determinations under
this Plan and any such agreements, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations
relating to the administration of this Plan or the awards granted under this Plan;

 

		(e)	cancel, modify, or waive the Company’s rights with
respect to, or modify, discontinue, suspend, or terminate any or all outstanding awards, subject to any required consent under Section 8.6.5;

 

		(f)	accelerate, waive or extend the vesting or exercisability,
or modify or extend the term of any or all such outstanding awards (in the case of options or share appreciation rights, within the maximum
ten-year term of such awards) in such circumstances as the Administrator may deem appropriate (including, without limitation, in connection
with a retirement or other termination of employment or services, or other circumstances) subject to any required consent under Section 8.6.5;

 

		(g)	adjust the number of Ordinary Shares subject to any award,
adjust the price of any or all outstanding awards or otherwise waive or change previously imposed terms and conditions, in such circumstances
as the Administrator may deem appropriate, in each case subject to Sections 4 and 8.6;

 

		(h)	determine the date of grant of an award, which may be a designated
date after but not before the date of the Administrator’s action to approve the award (unless otherwise designated by the Administrator,
the date of grant of an award shall be the date upon which the Administrator took the action approving the award);

 

    

     

    

 

		(i)	determine whether, and the extent to which, adjustments are
required pursuant to Section 7.1 hereof and take any other actions contemplated by Section 7 in connection with the occurrence
of an event of the type described in Section 7;

 

		(j)	acquire or settle (subject to Sections 7 and 8.6) rights
under awards in cash, shares of equivalent value, or other consideration;

 

		(k)	determine the fair market value of the Ordinary Shares or
awards under this Plan from time to time and/or the manner in which such value will be determined; and

 

		(l)	implement any procedures, steps or additional or different
requirements as may be necessary to comply with any laws of the People’s Republic of China (the “PRC”) that
may be applicable to this Plan, any Option or any related documents, including, but not limited to, foreign exchange laws, tax laws and
securities laws of the PRC.

 

		3.3	Binding Determinations.  Any determination
or other action taken by, or inaction of, the Company, any Subsidiary, or the Administrator relating or pursuant to this Plan (or any
award made under this Plan) and within its authority hereunder or under applicable law shall be within the absolute discretion of that
entity or body and shall be conclusive and binding upon all persons.  Neither the Board nor any Board committee, nor any member
thereof or person acting at the direction thereof, shall be liable for any act, omission, interpretation, construction or determination
made in good faith in connection with this Plan (or any award made under this Plan), and all such persons shall be entitled to indemnification
and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees)
arising or resulting therefrom to the fullest extent permitted by law and/or under any directors and officers liability insurance coverage
that may be in effect from time to time.  Neither the Board nor any other Administrator, nor any member thereof or person acting
at the direction thereof, nor the Company or any of its Subsidiaries, shall be liable for any damages of a participant should an option
intended as an ISO (as defined below) fail to meet the requirements of the Internal Revenue Code of 1986, as amended (the “Code”),
applicable to ISOs, should any other award(s) fail to qualify for any intended tax treatment, should any award grant or other action
with respect thereto not satisfy Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended, or otherwise for
any tax or other liability imposed on a participant with respect to an award.

 

		3.4	Reliance on Experts.  In making any determination
or in taking or not taking any action under this Plan, the Administrator may obtain and may rely upon the advice of experts, including
employees and professional advisors to the Company.  No director, officer or agent of the Company or any of its Subsidiaries shall
be liable for any such action or determination taken or made or omitted in good faith.

 

		3.5	Delegation.  The Administrator may delegate
ministerial, non-discretionary functions to individuals who are officers or employees of the Company or any of its Subsidiaries or to
third parties.

 

		3.6	Option and SAR Repricing.  Subject to
Section 4 and Section 8.6.5, the Administrator, from time to time and in its sole discretion, may provide for (1) the
amendment of any outstanding share option or SAR to reduce the exercise price or base price of the award, (2) the cancellation,
exchange, or surrender of an outstanding share option or SAR in exchange for cash or other awards (for the purpose of repricing the award
or otherwise), or (3) the cancellation, exchange, or surrender of an outstanding share option or SAR in exchange for an option or
SAR with an exercise or base price that is less than the exercise or base price of the original award.  For avoidance of doubt,
the Administrator may take any or all of the foregoing actions under this Section 3.6 without shareholder approval.

 

    

     

    

 

	4.	ORDINARY SHARES SUBJECT TO THE PLAN; SHARE LIMITS

 

		4.1	Shares Available.  Subject to the provisions
of Section 7.1, the shares that may be delivered under this Plan shall be shares of the Company’s authorized but unissued
Ordinary Shares and any Ordinary Shares held as treasury shares.  For purposes of this Plan, “Ordinary Shares”
shall mean the ordinary shares of the Company and such other securities or property as may become the subject of awards under this Plan,
or may become subject to such awards, pursuant to an adjustment made under Section 7.1.

 

		4.2	Share Limits.  The maximum number of Ordinary
Shares that may be delivered pursuant to awards granted to Eligible Persons under this Plan (the “Share Limit”) is
initially equal to 62,429,305 Ordinary Shares.

 

The following limits also apply with respect to awards granted
under this Plan:

 

		(a)	The maximum number of Ordinary Shares that may be delivered
pursuant to options qualified as incentive stock options granted under this Plan is 62,429,305 Ordinary Shares.

 

Each of the foregoing numerical limits is subject to adjustment
as contemplated below and by Section 4.3, Section 7.1, and Section 8.10.

 

The number of Ordinary Shares available under this Plan shall
increase (i) as of September 1, 2021, in an amount equal to 1.5% of the Ordinary Shares issued and outstanding as of June 30,
2021, and (ii) annually on the first day of each fiscal year, beginning with the fiscal year ending December 31, 2022, in an
amount equal to 1.5% of the Ordinary Shares issued and outstanding on December 31 of the immediately preceding calendar year, and
continuing as long as the unissued Ordinary Shares reserved under this Plan account for less than ten percent (10%) of the total then
issued and outstanding Ordinary Shares.

 

		4.3	Awards Settled in Cash, Reissue of Awards and Shares. 
To the extent that an award granted under this Plan is settled in cash or a form other than Ordinary Shares, the shares that would have
been delivered had there been no such cash or other settlement shall not be counted against the shares available for issuance under this
Plan.  In the event that Ordinary Shares are delivered in respect of a dividend equivalent right granted under this Plan, the number
of shares delivered with respect to the award shall be counted against the share limits of this Plan (including, for purposes of clarity,
the limits of Section 4.2 of this Plan).  (For purposes of clarity, if 1,000 dividend equivalent rights are granted and outstanding
when the Company pays a dividend, and 50 shares are delivered in payment of those rights with respect to that dividend, 50 shares shall
be counted against the share limits of this Plan).  Shares that are subject to or underlie awards granted under this Plan which
expire or for any reason are cancelled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered
under this Plan shall not be counted against the share limit and shall be available for subsequent awards under this Plan.  Shares
that are exchanged by a participant or withheld by the Company as full or partial payment in connection with any award under this Plan,
as well as any shares exchanged by a participant or withheld by the Company or one of its Subsidiaries to satisfy the tax withholding
obligations related to any award, shall not be available for subsequent awards under this Plan.

 

		4.4	Reservation of Shares; No Fractional Shares; Minimum
Issue.  Unless otherwise expressly provided by the Administrator, no fractional shares shall be delivered under this Plan. 
The Administrator may pay cash in lieu of any fractional shares in settlements of awards under this Plan.  The Administrator may
from time to time impose a limit (of not greater than 100 shares) on the minimum number of shares that may be purchased or exercised
as to awards (or any particular award) granted under this Plan unless (as to any particular award) the total number purchased or exercised
is the total number at the time available for purchase or exercise under the award.

 

    

     

    

 

		5.	AWARDS

 

		5.1	Type and Form of Awards.  The Administrator
shall determine the type or types of award(s) to be made to each selected Eligible Person. Awards may be granted singly, in combination
or in tandem.  Awards also may be made in combination or in tandem with, in replacement of, as alternatives to, or as the payment
form for grants or rights under any other employee or compensation plan of the Company or one of its Subsidiaries.  The types of
awards that may be granted under this Plan are:

 

5.1.1       Share
Options.  A share option is the grant of a right to purchase a specified number of Ordinary Shares during a specified period
as determined by the Administrator.  An option may be intended as an incentive stock option within the meaning of Section 422
of Code (an “ISO”) or a nonqualified stock option (an option not intended to be an ISO).  The agreement evidencing
the grant of an option will indicate if the option is intended as an ISO; otherwise it will be deemed to be a nonqualified stock option. 
The maximum term of each option (ISO or nonqualified) shall be ten (10) years.  The per share exercise price for each option
shall be determined by the Administrator and set forth in the applicable award agreement.  When an option is exercised, the exercise
price for the shares to be purchased shall be paid in full in cash or such other method permitted by the Administrator consistent with
Section 5.5.

 

5.1.2       Additional
Rules Applicable to ISOs.  To the extent that the aggregate fair market value (determined at the time of grant of the
applicable option) of shares with respect to which ISOs first become exercisable by a participant in any calendar year exceeds $100,000,
taking into account both Ordinary Shares subject to ISOs under this Plan and shares subject to ISOs under all other plans of the Company
or one of its Subsidiaries (or any parent or predecessor corporation to the extent required by and within the meaning of Section 422
of the Code and the regulations promulgated thereunder), such options shall be treated as nonqualified stock options.  In reducing
the number of options treated as ISOs to meet the $100,000 limit, the most recently granted options shall be reduced first.  To the
extent a reduction of simultaneously granted options is necessary to meet the $100,000 limit, the Administrator may, in the manner and
to the extent permitted by law, designate which Ordinary Shares are to be treated as shares acquired pursuant to the exercise of an ISO. 
ISOs may only be granted to employees of the Company or one of its subsidiaries (for this purpose, the term “subsidiary” is
used as defined in Section 424(f) of the Code, which generally requires an unbroken chain of ownership of at least 50% of the
total combined voting power of all classes of shares of each subsidiary in the chain beginning with the Company and ending with the subsidiary
in question).  There shall be imposed in any award agreement relating to ISOs such other terms and conditions as from time to time
are required in order that the option be an “incentive stock option” as that term is defined in Section 422 of the Code. 
The per share exercise price for each ISO shall be not less than 100% of the fair market value of an Ordinary Share on the date of grant
of the option.  Furthermore, no ISO may be granted to any person who, at the time the option is granted, owns (or is deemed to own
under Section 424(d) of the Code) outstanding Ordinary Shares possessing more than 10% of the total combined voting power of
all classes of shares of the Company, unless the exercise price of such option is at least 110% of the fair market value of the shares
subject to the option and such option by its terms is not exercisable after the expiration of five years from the date such option is
granted. If an otherwise-intended ISO fails to meet the applicable requirements of Section 422 of the Code, the option shall be a
nonqualified stock option.

 

5.1.3       Share
Appreciation Rights.  A share appreciation right or “SAR” is a right to receive a payment, in cash and/or
Ordinary Shares, equal to the excess of the fair market value of a specified number of Ordinary Shares on the date the SAR is exercised
over the “base price” of the award, which base price shall be determined by the Administrator and set forth in the
applicable award agreement.  The maximum term of a SAR shall be ten (10) years.

 

    

     

    

 

5.1.4       Other
Awards. The other types of awards that may be granted under this Plan include: (a) stock bonuses, restricted stock,
performance stock, stock units, phantom stock or similar rights to purchase or acquire shares, whether at a fixed or variable price (or
no price) or fixed or variable ratio related to the Common Stock, and any of which may (but need not) be fully vested at grant or vest
upon the passage of time, the occurrence of one or more events, the satisfaction of performance criteria or other conditions, or any combination
thereof; (b) any similar securities with a value derived from the value of or related to the Ordinary Shares and/or returns thereon;
or (c) cash awards.  Dividend equivalent rights may be granted as a separate award or in connection with another award under
the Plan.

 

	 	5.2	Reserved.

 

		5.3	Award Agreements.  Each award shall be
evidenced by a written or electronic award agreement or notice in a form approved by the Administrator (an “award agreement”),
and, in each case and if required by the Administrator, executed or otherwise electronically accepted by the recipient of the award in
such form and manner as the Administrator may require.

 

		5.4	Deferrals and Settlements.  Payment of
awards may be in the form of cash, Ordinary Shares, other awards or combinations thereof as the Administrator shall determine, and with
such restrictions as it may impose.  The Administrator may also require or permit participants to elect to defer the issuance of
shares or the settlement of awards in cash under such rules and procedures as it may establish under this Plan.  The Administrator
may also provide that deferred settlements include the payment or crediting of interest or other earnings on the deferral amounts, or
the payment or crediting of dividend equivalents where the deferred amounts are denominated in shares.

 

		5.5	Consideration for Ordinary Shares or Awards. 
The purchase price for any award granted under this Plan or the Ordinary Shares to be delivered pursuant to an award, as applicable,
may be paid by means of any lawful consideration as determined by the Administrator, including, without limitation, one or a combination
of the following methods:

 

		·	services rendered by the recipient of such award;

 

		·	cash, check payable to the order of the Company, or electronic
funds transfer;

 

		·	notice and third party payment in such manner as may be authorized
by the Administrator;

 

		·	the delivery of previously owned Ordinary Shares;

 

		·	by a reduction in the number of shares otherwise deliverable
pursuant to the award; or

 

		·	subject to such procedures as the Administrator may adopt, pursuant
to a “cashless exercise” with a third party who provides financing for the purposes of (or who otherwise facilitates) the
purchase or exercise of awards.

 

In no event shall any shares newly-issued by the Company be
issued for less than the minimum lawful consideration for such shares or for consideration other than consideration permitted by applicable
law.  Ordinary Shares used to satisfy the exercise price of an option shall be valued at their fair market value on the date of exercise. 
The Company will not be obligated to deliver any shares unless and until it receives full payment of the exercise or purchase price therefor
and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase have been satisfied. 
Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s
ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Company.  The Administrator
may take all actions necessary to alter the method of Option exercise and the exchange and transmittal of proceeds with respect to participants
resident in the PRC not having permanent residence in a country other than the PRC in order to comply with applicable PRC laws and regulations,
including, without limitation, PRC foreign exchange, securities and tax laws and regulations.

 

    

     

    

 

		5.6	Definition of Fair Market Value.  For purposes
of this Plan, if the Ordinary Shares are listed and actively traded on an internationally recognized securities exchange (the “Exchange”),
then unless otherwise determined or provided by the Administrator in the circumstances, “fair market value” shall mean the
closing price (in regular trading) for an Ordinary Share as reported on the Exchange on which the Ordinary Shares are listed for the
date in question or, if no sales of Ordinary Shares were reported on the Exchange on that date, the closing price for an Ordinary Share
as reported by the Exchange on which the Ordinary Shares are listed for the next preceding day on which sales of Ordinary Shares were
reported.  The Administrator may, however, provide with respect to one or more Awards that the fair market value shall equal the
closing price (in regular trading) for an Ordinary Share as reported by the Exchange on the last day preceding the date in question or
the average of high and low trading prices of an Ordinary Share as reported by the Exchange for the date in question or the most recent
trading day.  If the Ordinary Shares are no longer listed or actively traded on the Exchange as of the applicable date, the fair
market value of the Ordinary Shares shall be the value as reasonably determined by the Administrator for purposes of the award in the
circumstances.  The Administrator also may adopt a different methodology for determining fair market value with respect to one or
more awards if a different methodology is necessary or advisable to secure any intended favorable tax, legal or other treatment for the
particular award(s) (for example, and without limitation, the Administrator may provide that fair market value for purposes of one
or more awards will be based on an average of closing prices (or the average of high and low daily trading prices) for a specified period
preceding the relevant date).

 

		5.7	Transfer Restrictions.

 

5.7.1       Limitations
on Exercise and Transfer.  Unless otherwise expressly provided in (or pursuant to) this Section 5.7 or required by applicable
law: (a) all awards are non-transferable and shall not be subject in any manner to sale, transfer, anticipation, alienation, assignment,
pledge, encumbrance or charge; (b) awards shall be exercised only by the participant; and (c) amounts payable or shares issuable
pursuant to any award shall be delivered only to (or for the account of) the participant.

 

5.7.2       Exceptions. 
The Administrator may permit awards to be exercised by and paid to, or otherwise transferred to, other persons or entities pursuant to
such conditions and procedures, including limitations on subsequent transfers, as the Administrator may, in its sole discretion, establish
in writing.  Any permitted transfer shall be subject to compliance with applicable federal and state securities laws and shall not
be for value (other than nominal consideration, settlement of marital property rights, or for interests in an entity in which more than
50% of the voting interests are held by the Eligible Person or by the Eligible Person’s family members).

 

5.7.3       Further
Exceptions to Limits on Transfer.  The exercise and transfer restrictions in Section 5.7.1 shall not apply to:

 

		(a)	transfers
to the Company (for example, in connection with the expiration or termination of the award),

 

		(b)	the
designation of a beneficiary to receive benefits in the event of the participant’s death or, if the participant has died, transfers
to or exercise by the participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the
laws of descent and distribution,

 

		(c)	subject
to any applicable limitations on ISOs, transfers to a family member (or former family member) pursuant to a domestic relations order
if approved or ratified by the Administrator,

 

    

     

    

 

		(d)	if
the participant has suffered a disability, permitted transfers or exercises on behalf of the participant by his or her legal representative,
or

 

		(e)	the
authorization by the Administrator of “cashless exercise” procedures with third parties who provide financing for the purpose
of (or who otherwise facilitate) the exercise of awards consistent with applicable laws and any limitations imposed by the Administrator.

 

		5.8	International Awards.  One or more awards
may be granted to Eligible Persons who provide services to the Company or one of its Subsidiaries outside of the United States. 
Any awards granted to such persons may be granted pursuant to the terms and conditions of any applicable sub-plans, if any, appended
to this Plan and approved by the Administrator from time to time.  The awards so granted need not comply with other specific terms
of this Plan, provided that shareholder approval of any deviation from the specific terms of this Plan is not required by applicable
law or any applicable listing agency.

 

		6.	EFFECT OF TERMINATION OF EMPLOYMENT OR SERVICE ON AWARDS

 

		6.1	General.  The Administrator shall establish
the effect (if any) of a termination of employment or service on the rights and benefits under each award under this Plan and in so doing
may make distinctions based upon, inter alia, the cause of termination and type of award.  If the participant is not an employee
of the Company or one of its Subsidiaries, is not a member of the Board, and provides other services to the Company or one of its Subsidiaries,
the Administrator shall be the sole judge for purposes of this Plan (unless a contract or the award otherwise provides) of whether the
participant continues to render services to the Company or one of its Subsidiaries and the date, if any, upon which such services shall
be deemed to have terminated.

 

		6.2	Events Not Deemed Terminations of Service. 
Unless the express policy of the Company or one of its Subsidiaries, or the Administrator, otherwise provides, or except as otherwise
required by applicable law, the employment relationship shall not be considered terminated in the case of (a) sick leave, (b) military
leave, or (c) any other leave of absence authorized by the Company or one of its Subsidiaries, or the Administrator; provided that,
unless reemployment upon the expiration of such leave is guaranteed by contract or law or the Administrator otherwise provides, such
leave is for a period of not more than three months.  In the case of any employee of the Company or one of its Subsidiaries on an
approved leave of absence, continued vesting of the award while on leave from the employ of the Company or one of its Subsidiaries may
be suspended until the employee returns to service, unless the Administrator otherwise provides or applicable law otherwise requires. 
In no event shall an award be exercised after the expiration of any applicable maximum term of the award.

 

		6.3	Effect of Change of Subsidiary Status.  For
purposes of this Plan and any award, if an entity ceases to be a Subsidiary of the Company a termination of employment or service shall
be deemed to have occurred with respect to each Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person
in respect of the Company or another Subsidiary that continues as such after giving effect to the transaction or other event giving rise
to the change in status unless the Subsidiary that is sold, spun-off or otherwise divested (or its successor or a direct or indirect
parent of such Subsidiary or successor) assumes the Eligible Person’s award(s) in connection with such transaction.

 

    

     

    

 

		7.	ADJUSTMENTS; ACCELERATION

 

		7.1	Adjustments.  Subject to Section 7.2,
upon (or, as may be necessary to effect the adjustment, immediately prior to): any reclassification, recapitalization, share split (including
a share split in the form of a share dividend) or reverse share split; any merger, combination, consolidation, conversion or other reorganization;
any spin-off, split-up, or similar extraordinary dividend distribution in respect of the Ordinary Shares; or any exchange of Ordinary
Shares or other securities of the Company, or any similar, unusual or extraordinary corporate transaction in respect of the Ordinary
Shares; then the Administrator shall equitably and proportionately adjust (1) the number and type of Ordinary Shares (or other securities)
that thereafter may be made the subject of awards (including the specific share limits, maximums and numbers of shares set forth elsewhere
in this Plan), (2) the number, amount and type of Ordinary Shares (or other securities or property) subject to any outstanding awards,
(3) the grant, purchase, or exercise price (which term includes the base price of any SAR or similar right) of any outstanding awards,
and/or (4) the securities, cash or other property deliverable upon exercise or payment of any outstanding awards, in each case to
the extent necessary to preserve (but not increase) the level of incentives intended by this Plan and the then-outstanding awards.

 

Without limiting the generality of Section 3.3, any good
faith determination by the Administrator as to whether an adjustment is required in the circumstances pursuant to this Section 7.1,
and the extent and nature of any such adjustment, shall be conclusive and binding on all persons.

 

		7.2	Corporate Transactions - Assumption and Termination of
Awards.

 

Upon any event in which the Company does not survive, or does
not survive as a public company in respect of its Ordinary Shares (including, without limitation, a dissolution, merger, combination,
consolidation, conversion, exchange of securities or other reorganization, or a sale of all of the business, shares or assets of the Company,
in any case in connection with which the Company does not survive or does not survive as a public company in respect of its Ordinary Shares),
then the Administrator may make provision for a cash payment in settlement of, or for the termination, assumption, substitution or exchange
of any or all outstanding awards or the cash, securities or property deliverable to the holder of any or all outstanding awards, based
upon, to the extent relevant under the circumstances, the distribution or consideration payable to holders of the Ordinary Shares upon
or in respect of such event.  Upon the occurrence of any event described in the preceding sentence in connection with which the Administrator
has made provision for the award to be terminated (and the Administrator has not made a provision for the substitution, assumption, exchange
or other continuation or settlement of the award): (1) unless otherwise provided in the applicable award agreement, each then-outstanding
option and SAR shall become fully vested, all restricted shares then outstanding shall fully
vest free of restrictions, and each other award granted under this Plan that is then outstanding shall become payable to the holder of
such award (with any performance goals applicable to the award in each case being deemed met, unless otherwise provided in the award agreement,
at the “target” performance level); and (2) each award shall terminate upon the related event; provided that the holder
of an option or SAR shall be given reasonable advance notice of the impending termination and a reasonable opportunity to exercise his
or her outstanding vested options and SARs (after giving effect to any accelerated vesting required in the circumstances) in accordance
with their terms before the termination of such awards (except that in no case shall more than ten days’ notice of the impending
termination be required and any acceleration of vesting and any exercise of any portion of an award that is so accelerated may be made
contingent upon the actual occurrence of the event).

 

Without limiting the preceding paragraph, in connection with
any event referred to in the preceding paragraph or any change in control event defined in any applicable award agreement, the Administrator
may, in its discretion, provide for the accelerated vesting of any award or awards as and to the extent determined by the Administrator
in the circumstances.

 

    

     

    

 

For purposes of this Section 7.2, an award shall be deemed
to have been “assumed” if (without limiting other circumstances in which an award is assumed) the award continues after an
event referred to above in this Section 7.2, and/or is assumed and continued by the surviving entity following such event (including,
without limitation, an entity that, as a result of such event, owns the Company or all or substantially all of the Company’s assets
directly or through one or more subsidiaries (a “Parent”)), and confers the right to purchase or receive, as applicable
and subject to vesting and the other terms and conditions of the award, for each Ordinary Share subject to the award immediately prior
to the event, the consideration (whether cash, shares, or other securities or property) received in the event by the shareholders of the
Company for each Ordinary Share sold or exchanged in such event (or the consideration received by a majority of the shareholders participating
in such event if the shareholders were offered a choice of consideration); provided, however, that if the consideration offered for an
Ordinary Share in the event is not solely the ordinary common stock of a successor corporation or a Parent, the Administrator may provide
for the consideration to be received upon exercise or payment of the award, for each share subject to the award, to be solely ordinary
common stock of the successor corporation or a Parent equal in fair market value to the per share consideration received by the shareholders
participating in the event.

 

The Administrator may adopt such valuation methodologies for
outstanding awards as it deems reasonable in the event of a cash or property settlement and, in the case of options, SARs or similar rights,
but without limitation on other methodologies, may base such settlement solely upon the excess if any of the per share amount payable
upon or in respect of such event over the exercise or base price of the award. In the case of an option, SAR or similar right as to which
the per share amount payable upon or in respect of such event is less than or equal to the exercise or base price of the award, the Administrator
may terminate such award in connection with an event referred to in this Section 7.2 without any payment in respect of such award.

 

In any of the events referred to in this Section 7.2,
the Administrator may take such action contemplated by this Section 7.2 prior to such event (as opposed to on the occurrence of such
event) to the extent that the Administrator deems the action necessary to permit the participant to realize the benefits intended to be
conveyed with respect to the underlying shares.  Without limiting the generality of the foregoing, the Administrator may deem an
acceleration to occur immediately prior to the applicable event and, in such circumstances, will reinstate the original terms of the award
if an event giving rise to an acceleration and/or termination does not occur.

 

Without limiting the generality of Section 3.3, any good
faith determination by the Administrator pursuant to its authority under this Section 7.2 shall be conclusive and binding on all
persons.

 

		7.3	Other Acceleration Rules.  The Administrator
may override the provisions of Section 7.2 by express provision in the award agreement and may accord any Eligible Person a right
to refuse any acceleration, whether pursuant to the award agreement or otherwise, in such circumstances as the Administrator may approve. 
The portion of any ISO accelerated in connection with an event referred to in Section 7.2 (or such other circumstances as may trigger
accelerated vesting of the award) shall remain exercisable as an ISO only to the extent the applicable $100,000 limitation on ISOs is
not exceeded.  To the extent exceeded, the accelerated portion of the option shall be exercisable as a nonqualified stock option
under the Code.

 

		8.	OTHER PROVISIONS

 

		8.1	Compliance with Laws.  This Plan, the granting
and vesting of awards under this Plan, the offer, issuance and delivery of Ordinary Shares, and/or the payment of money under this Plan
or under awards are subject to compliance with all applicable federal, state, local and foreign laws, rules and regulations (including
but not limited to state and federal securities law and federal margin requirements) and to such approvals by any listing, regulatory
or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. 
The person acquiring any securities under this Plan will, if requested by the Company or one of its Subsidiaries, provide such assurances
and representations to the Company or one of its Subsidiaries as the Administrator may deem necessary or desirable to assure compliance
with all applicable legal and accounting requirements.

 

		8.2	No Rights to Award.  No person shall have
any claim or rights to be granted an award (or additional awards, as the case may be) under this Plan, subject to any express contractual
rights (set forth in a document other than this Plan) to the contrary.

 

    

     

    

 

		8.3	No Employment/Service Contract.  Nothing
contained in this Plan (or in any other documents under this Plan or in any award) shall confer upon any Eligible Person or other participant
any right to continue in the employ or other service of the Company or one of its Subsidiaries, constitute any contract or agreement
of employment or other service or affect an employee’s status as an employee at will, nor shall interfere in any way with the right
of the Company or one of its Subsidiaries to change a person’s compensation or other benefits, or to terminate his or her employment
or other service, with or without cause.  Nothing in this Section 8.3, however, is intended to adversely affect any express
independent right of such person under a separate employment or service contract other than an award agreement.

 

		8.4	Plan Not Funded.  Awards payable under this
Plan shall be payable in shares or from the general assets of the Company, and no special or separate reserve, fund or deposit shall
be made to assure payment of such awards.  No participant, beneficiary or other person shall have any right, title or interest in
any fund or in any specific asset (including Ordinary Shares, except as expressly otherwise provided) of the Company or one of its Subsidiaries
by reason of any award hereunder.  Neither the provisions of this Plan (or of any related documents), nor the creation or adoption
of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of any kind
or a fiduciary relationship between the Company or one of its Subsidiaries and any participant, beneficiary or other person.  To
the extent that a participant, beneficiary or other person acquires a right to receive payment pursuant to any award hereunder, such
right shall be no greater than the right of any unsecured general creditor of the Company.

 

		8.5	Tax Withholding.  Upon any exercise, vesting,
or payment of any award, or upon the disposition of Ordinary Shares acquired pursuant to the exercise of an ISO prior to satisfaction
of the holding period requirements of Section 422 of the Code, or upon any other tax withholding event with respect to any award,
arrangements satisfactory to the Company shall be made to provide for any taxes the Company or any of its Subsidiaries may be required
to withhold with respect to such award event or payment.  Such arrangements may include (but are not limited to) any one of (or
a combination of) the following:

 

		(a)	The Company or one of its Subsidiaries shall have the right
to require the participant (or the participant’s personal representative or beneficiary,
as the case may be) to pay or provide for payment of at least the minimum amount of any taxes which the Company or one of its Subsidiaries
may be required to withhold with respect to such award event or payment.

 

		(b)	The Company or one of its Subsidiaries shall have the right
to deduct from any amount otherwise payable in cash (whether related to the award or otherwise) to the participant (or the participant’s
personal representative or beneficiary, as the case may be) the minimum amount of any taxes which the Company or one of its Subsidiaries
may be required to withhold with respect to such award event or payment.

 

		(c)	In any case where a tax is required to be withheld in connection
with the delivery of Ordinary Shares under this Plan, the Administrator may in its sole discretion (subject to Section 8.1) require
or grant (either at the time of the award or thereafter) to the participant the right to elect, pursuant to such rules and subject
to such conditions as the Administrator may establish, that the Company reduce the number of shares to be delivered by (or otherwise
reacquire) the appropriate number of shares, valued in a consistent manner at their fair market value or at the sales price in accordance
with authorized procedures for cashless exercises, necessary to satisfy the minimum applicable withholding obligation on exercise, vesting
or payment.  Unless otherwise provided by the Administrator, in no event shall the shares withheld exceed the minimum whole number
of shares required for tax withholding under applicable law to the extent the Company determines that withholding at any greater level
would result in an award otherwise classified as an equity award under ASC Topic 718 (or any successor thereto) being classified as a
liability award under ASC Topic 718 (or such successor).

 

    

     

    

 

		8.6	Effective Date, Termination and Suspension, Amendments.

 

8.6.1       Effective
Date.  This Plan, as amended and restated, is effective as of May 24, 2021, the date of its approval by the Board. 
Unless earlier terminated by the Board and subject to any extension that may be approved by shareholders, this Plan shall terminate at
the close of business on the day before the tenth anniversary of February 21, 2019, the date of its initial approval by the Board. 
After the termination of this Plan either upon such stated termination date or its earlier termination by the Board, no additional awards
may be granted under this Plan, but previously granted awards (and the authority of the Administrator with respect thereto, including
the authority to amend such awards) shall remain outstanding in accordance with their applicable terms and conditions and the terms and
conditions of this Plan.

 

8.6.2       Board
Authorization.  The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole
or in part.  No awards may be granted during any period that the Board suspends this Plan.

 

8.6.3       Shareholder
Approval.  To the extent then required by applicable law or deemed necessary or advisable by the Board, any amendment to
this Plan shall be subject to shareholder approval.

 

8.6.4       Amendments
to Awards.  Without limiting any other express authority of the Administrator under (but subject to) the express limits of
this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on awards to participants that the Administrator
in the prior exercise of its discretion has imposed, without the consent of a participant, and (subject to the requirements of Sections
3.2 and 8.6.5) may make other changes to the terms and conditions of awards.

 

8.6.5       Limitations
on Amendments to Plan and Awards.  No amendment, suspension or termination of this Plan or amendment of any outstanding award
agreement shall, without written consent of the participant, affect in any manner materially adverse to the participant any rights or
benefits of the participant or obligations of the Company under any award granted under this Plan prior to the effective date of such
change.  Changes, settlements and other actions contemplated by Section 7 shall not be deemed to constitute changes or amendments
for purposes of this Section 8.6.

 

		8.7	Privileges
of Share Ownership.  Except as otherwise expressly authorized by the Administrator, a participant shall not be entitled
to any privilege of share ownership as to any Ordinary Shares not actually delivered to and held of record by the participant. 
Except as expressly required by Section 7.1 or otherwise expressly provided by the Administrator, no adjustment will be made for
dividends or other rights as a shareholder for which a record date is prior to such date of delivery.

 

		8.8	Governing
Law; Construction; Severability.

 

8.8.1       Choice
of Law.  This Plan, the awards, all documents evidencing awards and all other related documents shall be governed by, and
construed in accordance with the laws of the Cayman Islands.

 

8.8.2       Severability. 
If a court of competent jurisdiction holds any provision invalid and unenforceable, the remaining provisions of this Plan shall continue
in effect.

 

    

     

    

 

8.8.3       Plan
Construction.

 

		(a)	It is the intent of the Company that the awards and transactions
permitted by awards be interpreted in a manner that, in the case of participants who are or may be subject to Section 16 of the
Exchange Act, qualify, to the maximum extent compatible with the express terms of the award, for exemption from matching liability under
Rule 16b-3 promulgated under the Exchange Act.  Notwithstanding the foregoing, the Company shall have no liability to any participant
for Section 16 consequences of awards or events under awards if an award or event does not so qualify.

 

		8.9	Captions.  Captions and headings are given
to the sections and subsections of this Plan solely as a convenience to facilitate reference.  Such headings shall not be deemed
in any way material or relevant to the construction or interpretation of this Plan or any provision thereof.

 

		8.10	Share-Based Awards in Substitution for Share Options or
Awards Granted by Other Company.  Awards may be granted to Eligible Persons in substitution for or in connection with an
assumption of employee share options, SARs, restricted shares or other share-based awards granted by other entities to persons who are
or who will become Eligible Persons in respect of the Company or one of its Subsidiaries, in connection with a distribution, merger or
other reorganization by or with the granting entity or an affiliated entity, or the acquisition by the Company or one of its Subsidiaries,
directly or indirectly, of all or a substantial part of the shares or assets of the employing entity.  The awards so granted need
not comply with other specific terms of this Plan, provided the awards reflect adjustments giving effect to the assumption or substitution
consistent with any conversion applicable to the Ordinary Shares (or the securities otherwise subject to the award) in the transaction
and any change in the issuer of the security.  Any shares that are delivered and any awards that are granted by, or become obligations
of, the Company, as a result of the assumption by the Company of, or in substitution for, outstanding awards previously granted or assumed
by an acquired company (or previously granted or assumed by a predecessor employer (or direct or indirect parent thereof) in the case
of persons that become employed by the Company or one of its Subsidiaries in connection with a business or asset acquisition or similar
transaction) shall not be counted against the Share Limit or other limits on the number of shares available for issuance under this Plan.

 

		8.11	Non-Exclusivity of Plan.  Nothing in this
Plan shall limit or be deemed to limit the authority of the Board or the Administrator to grant awards or authorize any other compensation,
with or without reference to the Ordinary Shares, under any other plan or authority.

 

		8.12	No Corporate Action Restriction.  The existence
of this Plan, the award agreements and the awards granted hereunder shall not limit, affect or restrict in any way the right or power
of the Company or any Subsidiary (or any of their respective shareholders, boards of directors or committees thereof (or any subcommittee),
as the case may be) to make or authorize: (a) any adjustment, recapitalization, reorganization or other change in the capital structure
or business of the Company or any Subsidiary, (b) any merger, amalgamation, consolidation or change in the ownership of the Company
or any Subsidiary, (c) any issue of bonds, debentures, capital, preferred or prior preference shares ahead of or affecting the capital
shares (or the rights thereof) of the Company or any Subsidiary, (d) any dissolution or liquidation of the Company or any Subsidiary,
(e) any sale or transfer of all or any part of the assets or business of the Company or any Subsidiary, (f) any other award,
grant, or payment of incentives or other compensation under any other plan or authority (or any other action with respect to any benefit,
incentive or compensation) or (g) any other corporate act or proceeding by the Company or any Subsidiary.  No participant,
beneficiary or any other person shall have any claim under any award or award agreement against any member of the Board or the Administrator,
or the Company or any employees, officers or agents of the Company or any Subsidiary, as a result of any such action.  Awards need
not be structured so as to be deductible for tax purposes.

 

    

     

    

 

		8.13	Other Company Benefit and Compensation Programs. 
Payments and other benefits received by a participant under an award made pursuant to this Plan shall not be deemed a part of a participant’s
compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any,
provided by the Company or any Subsidiary, except where the Administrator expressly otherwise provides or authorizes in writing. 
Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, awards or commitments
under any other plans or arrangements or authority of the Company or its Subsidiaries.

 

		8.14	Clawback Policy.  The awards granted under
this Plan are subject to the terms of the Company’s recoupment, clawback or similar policy as it may be in effect from time to
time, as well as any similar provisions of applicable law, any of which could in certain circumstances require repayment or forfeiture
of awards or any Ordinary Shares or other cash or property received with respect to the awards (including any value received from a disposition
of the shares acquired upon payment of the awards).igpk_ex101.htm

EXHIBIT 10.1
  
 ACQUISITION AGREEMENT
  
 THIS ACQUISITON AGREEMENT (this “Agreement”) is made and entered into as of the 1st day of September 2021, between and among Integrated Holding Solutions, Inc. (“IHS”), a Nevada corporation, and wholly owned subsidiary of Integrated Cannabis Solutions, Inc. (“Buyer”), a Nevada Corporation, and Consolidated Apparel, Inc. (“Consolidated”), a Florida Corporation and wholly owned subsidiary of IHS(“Consolidated”), and Eugene Caiazzo, Consolidated’s President (“Caiazzo”). Consolidated and Caiazzo are collectively referred to herein as the “Seller” or individually as the circumstances dictate. The Buyer and the Seller are collectively referred to herein as the Parties. 
  
 WHEREAS, Caiazzo owns all outstanding Shares of Consolidated (the “Shares”). 
  
 WHEREAS, the Buyer desires to purchase from Caiazzo and Caiazzo desires to sell to the Buyer, 49.5% of the outstanding Shares of Consolidated as held by Caiazzo, subject to the terms and conditions described in this Agreement, including that the Buyer shall assume of 50% of the long term liabilities of Consolidated (the “First Assumption of Debt”) in the form of its loans, credit lines and notes as reflected in Exhibit Number 1 and pay such liabilities within 6 months after Consolidated audited financials are filed with the Securities and Exchange Commission (the “49.5% Acquisition”). 
  
 WHEREAS, on the date that the Buyer pays the Assumption of Debt to the creditors detailed in Exhibit 1, the Buyer shall have the option to acquire the remaining 50.5% of Consolidated for the Buyer’s assumption of the remaining 50% balance of the long term liabilities (the “Second Assumption of Debt”), such liability amounts to be determined on the Closing date of the transaction, and the Buyer’s payment to the Creditors of the liability amounts (the “50.5% Acquisition”). 
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements described in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Buyer and the Seller hereby agree as follows:
  
 1.SALE OF SHARES. Subject to the terms and conditions of this Agreement, Caiazzo agrees to sell to the Buyer, and the Buyer agrees to purchase from the Seller 49.5% of Consolidated outstanding shares and subject to Buyer’s exercise of an option to purchase the remaining 50.5% of Consolidated , the Buyer agrees to purchase the remaining 50.5% of the Shares of Consolidated.
  
 2. ESCROW. The Shares with respect to the 49.5% Acquisition and the 50.5% Acquisition will be held in escrow by the Escrow Agent, which Escrow agent shall not release the respective shares to the Buyer until such time as the Buyer fulfills its obligations with respect to the First Assumption of Debt and the Second Assumption of Debt, respectively. 
  
 3. CONSIDERATION. 
  
 3.1 The purchase price to be paid by the Buyer to Caiazzo for the 49.5% Acquisition and the 50.5% Acquisition at Closing shall be assumption of the First Assumption of Debt and the Second Assumption of Debt and payment thereof to the creditors of Consolidated, respectively 
  
 3.2 The Buyer shall assume 49.5% for 50% of the total long term liabilities (loans, credit lines, notes), as follows: (a) the Buyer shall assume 49.5% of the long term liabilities at Closing; (b) from the date of closing, the Buyer shall have a period of 6 months to pay the Seller’s Creditors the 49.5% of the assumed liabilities; (c) should the Buyer fail to pay the Seller’s creditors within the time period specified in 3.2(b), the 49.5 interest in the Seller by the Buyer shall revert back to the Seller; (d) should the Buyer exercise its option to purchase the remaining 50.5% of the Seller, the Buyer shall pay the creditors within 6 months of the date that the Buyer pays the creditors with respect to (b). 
  
 	 
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 3.3 All shares of Consolidated shall remain in Escrow until such time that the conditions of 3.2 with respect to the 49.5% and 50.5% interests are complied with, respectively. 
  
 3.4 Should the Buyer make partial payment(s) to the creditors and fail to pay the balance due to such creditors, the Buyer will forfeit all monies paid, the Seller shall not be obligated to return the funds or issue any shares.
  
 3.5 Buyer agrees to bear all expenses incurred by this transaction, and all futures expenses beyond the current day-to-day expenses of the Seller, including, but not limited to legal, accounting and filing fees. 
  
 4. MANAGEMENT OF CONSOLIDATED/BOARD SEAT WITH THE BUYER/EMPLOYMENT AGREEMENT. 
  
 4.1 Caiazzo shall remain as the President of Consolidated and shall manage the operations of Consolidated. 
  
 4.2 Upon the completion of the Closing, the Buyer’s Board of Directors shall appoint Caiazzo as a member of the Buyer’s Board of Directors. 
  
 4.3 Prior to completion of the Closing, the Buyer and Caiazzo shall complete an Employment Agreement providing for Calizzo’s responsibilities as Consolidated President and subject to negotiation between the respective parties, the Buyer shall grant Cashless stock options to Caiazzo. 
  
 5. REPRESENTATIONS AND WARRANTIES OF SELLER. The Seller hereby represents and warrants to Buyer that the following statements are true and correct as of the date of this Agreement and will be true and correct as of the Closing Date (as hereafter defined).
  
 5.1 Authority; Capacity. The Seller has full power, authority and capacity to execute and deliver, and to perform his duties and obligations under this Agreement. This Agreement is the legal, valid and binding obligation of the Seller and is enforceable against the Seller in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, or other similar laws affecting the enforcement of creditors’ rights generally and except that the availability of equitable remedies, including specific performance, may be subject to the discretion of the court before which any proceeding may be brought.
  
 5.2 Financial Statements. The Seller hereby warrants that the financial statements of Consolidated truthfully and accurately represent its financial condition as reflected in Exhibit 2 . 
  
 5.3 No Conflicts; Consents. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not: (i) violate or conflict with any constitution, statute, regulation, rule, injunction, judgment, order, permit, decree, ruling, charge, or other restriction of any government, governmental agency, court or arbitrator to which the Seller or any of his assets are subject; (ii) conflict with, result in a breach of, constitute a default under (or with notice or the lapse of time or both could result in a breach of or constitute a default), result in the acceleration of, create in any party the right to accelerate, terminate, modify, or cancel, or require any notice or consent under any agreement, contract, lease, license, instrument, or other arrangement to which the Seller is a party or bound or to which any of his assets are subject; (iii) that could result in the creation or imposition of any lien, security interest or encumbrance in, to or on the Shares or any asset of the Seller; or (iv) require the Seller to give any notice to, make any filing with, or obtain any authorization, consent, or approval of any government or governmental agency, creditor or other third party in order to consummate the transactions contemplated by this Agreement
  
 5.4 Litigation. There are no claims, demands, filings, hearings, notices of violation, proceedings, notices or demand letters, investigations, administrative proceedings, civil, criminal or other actions, litigation, suits, mediations, arbitrations or other legal proceedings pending or threatened against the Seller relating to, resulting from or affecting the Shares or that would materially impair the ability of the Seller to perform his duties or obligations under, or to consummate the transactions contemplated by, this Agreement.
  
 5.5 Title. Caiazzo is the lawful owner of, and has good and marketable title to, the Shares, free and clear of any and all liens, restrictions, claims, charges, security interests and encumbrances (contractual or otherwise) of any kind, nature or type whatsoever. Caiazzo is the lawful owner of, and has good and marketable title to, the Shares, free and clear of all liens, restrictions, claims, charges, security interests and encumbrances (contractual or otherwise) of any kind, nature or type whatsoever.
  
 	 
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 5.6 Taxes. Consolidated has duly and timely filed all tax returns and reports required to be filed prior to the date of this Agreement and timely paid all taxes that have been incurred or are due and payable pursuant to such Returns or pursuant to any assessment with respect to taxes in such jurisdictions, whether or not in connection with such Returns. No deficiency or proposed adjustment which has not been settled or otherwise resolved for any amount of tax has been proposed, asserted or assessed by any taxing authority against Consolidated. There are no actions, suits, taxing authority proceedings, or audits now in progress, pending or threatened against Consolidated. .
  
 5.7 The Purchased Shares. The Shares being purchased by the Buyer under this Agreement shall represent 49.5 and 50.5% of the issued and outstanding Shares of Consolidated, respectively, as provided for under the terms of this Agreement.
  
 5.8 No Pending Transactions. Except for this Agreement, Consolidated is not a party to or bound by any agreement, undertaking or commitment to sell, lease, assign, transfer or exchange any of the Shares to any other entity or person.
  
 5.9 Full Disclosure. No representation or warranty of the Seller in this Agreement or any agreement, document or scheduled executed or delivered in connection with this Agreement contains any untrue statement of a material fact or omits to state any material fact which makes any such representation or warranty misleading.
  
 6. REPRESENTATIONS AND WARRANTIES OF BUYER. The Buyer hereby represents and warrants to the Seller that the following statements are true and correct as of the date of this Agreement and will be true and correct as of the Closing Date.
  
 6.1 Organization. The Buyer is duly organized, validly existing and in good standing under the laws of the State of Nevada, and is duly registered or qualified to do business, and are in good standing, in each jurisdiction in which the nature of its business or properties requires such registration or qualification, except where the failure to so register or qualify would have a material adverse effect.
  
 6.2 Authority; Capacity. The Buyer has full power and authority to execute and deliver, and to perform its duties and obligations under, this Agreement. The execution and delivery of, the performance of its obligations under, and the consummation of the transactions contemplated by, this Agreement and any agreement, document, instrument or certificate executed or to be executed in connection with this Agreement, have been duly authorized by all necessary action on the part of the Buyer. This Agreement is the legal, valid and binding obligation of the Buyer and is enforceable against the Buyer in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, or other similar laws affecting the enforcement of creditors’ rights generally and except that the availability of equitable remedies, including specific performance, may be subject to the discretion of the court before which any proceeding may be brought.
  
 6.3 No Conflicts; Consents. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not: (i) violate or conflict with any provision of the organizational documents, as amended, of the Buyer; (ii) violate or conflict with any constitution, statute, regulation, rule, injunction, judgment, order, permit, decree, ruling, charge, or other restriction of any government, governmental agency, court or arbitrator to which the Buyer or any of its assets are subject; (iii) conflict with, result in a breach of, constitute a default under (or with notice or the lapse of time or both could result in a breach of or constitute a default), result in the acceleration of, create in any party the right to accelerate, terminate, modify, or cancel, or require any notice or consent under any agreement, contract, lease, license, instrument, or other arrangement to which the Buyer is a party or bound or to which any of its assets are subject; (iv) result in or require the creation or imposition of any lien, security interest or encumbrance in, to or on any of the properties of the Buyer; or (v) require the Buyer to give any notice to, make any filing with, or obtain any authorization, consent, or approval of any government or governmental agency, creditor or other third party in order to consummate the transactions contemplated by this Agreement.
  
 	 
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 6.4 Litigation. There are no claims, demands, filings, hearings, notices of violation, proceedings, notices or demand letters, investigations, administrative proceedings, civil, criminal or other actions, litigation, suits, mediations, arbitrations or other legal proceedings pending or threatened against the Buyer that would materially impair the ability of the Buyer to perform its duties or obligations under, or to consummate the transactions contemplated by, this Agreement.
  
 6.5 Full Disclosure. No representation or warranty of the Buyer in this Agreement or any agreement, document or scheduled executed or delivered in connection with this Agreement contains any untrue statement of a material fact or omits to state any material fact which makes any such representation or warranty misleading.
  
 7. CLOSING. The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on November 30, 2021 (the “Closing Date”) at such other time and place as the Buyer and the Seller may agree.
  
 8. DELIVERIES BY CAIAZZO. At Closing, Caiazzo shall execute and deliver: (i) any certificate or book entry or other documents to transfer the Shares to the Buyer as necessary to transfer title to the Shares to the Buyer.
  
 9. DELIVERIES BY BUYER. At Closing, the Buyer shall execute and deliver: (i) an Assumption of Debt instrument to reflect the debt of Consolidated assumed by the Buyer; (ii) and all documents required to executed in connection therewith and any other document, certificate or instrument deemed reasonably requested by the Seller to consummate the transactions contemplated by this Agreement.
  
 10. TERMINATION. 
  
 10.1 This Agreement may be terminated upon providing written notice to the other parties at or prior to Closing the written consent of the Buyer and the Seller, which termination shall be effective as of the date described in such consent.
  
 10.2 Misrepresentation or Breach. By the Buyer or the Seller if: (i) any representation or warranty of the other party in this Agreement shall be false, misleading or incorrect in any material respect; or (ii) the other party shall fail to perform any of its duties, obligations or covenants described in this Agreement by or within the required period, which failure to perform is not cured within ten (10) days after the non-defaulting party notifies the defaulting party in writing of such failure to perform.
  
 10.3 No Closing. By the Buyer in the event the transactions contemplated by this Agreement are not consummated on or before December 6, 2021.
  
 10.4 Effects of Termination. In the event this Agreement is terminated, the Seller and the Buyer shall have no further rights, duties, obligations or responsibilities described in this Agreement, except for: (i) the respective indemnification rights and obligations of the Seller and the Buyer. 
  
 11. INDEMNIFICATION. Consolidated, Integrated Holding Solutions, and Caiazzo hereby mutually covenant and agree to indemnify one another, save, defend, hold harmless, discharge, and release their respective affiliates and their respective stockholders, members, partners, directors, managers, officers, employees, agents, representatives, successors and assigns from and against any and all payments, charges, judgments, assessments, liabilities, obligations, claims, demands, actions, losses, damages, penalties, interest or fines, and any and all costs and expenses paid or incurred, including attorney fees, costs, fees of experts and any legal or other expenses reasonably incurred in connection therewith (collectively, the “Liabilities”), arising from, based upon, related to or associated with this Agreement. 
  
 12. SURVIVAL OF REPRESENTATIONS AND COVENANTS. The Parties hereby agree and covenant that all of the representations, warranties and covenants in this Agreement shall survive the Closing or termination of this Agreement for a period of five (5) years.
  
 13. ENTIRE AGREEMENT. This Agreement and the exhibits attached to this Agreement constitute the entire agreement and understanding between the Buyer and the Seller and supersede any and all prior understandings, agreements or representations between the Buyer and the Seller, whether written or oral, related in any way to the subject matter of this Agreement.
  
 	 
	4
	

	 

  
 14. BINDING EFFECT. This Agreement shall be binding upon, and shall inure to the benefit of, the Buyer, the Seller and their respective heirs, legal representatives successors and permitted assigns.
  
 15. ASSIGNMENT. Neither the Seller or Caiazzo may assign any of his rights, or delegate any of his duties or obligations, under this Agreement without the prior written consent of the Buyer, which consent may be withheld, conditioned or delayed at the Buyer’s sole discretion.
  
 16. MULTIPLE COUNTERPARTS. This Agreement may be executed, by facsimile or otherwise, in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.
  
 17. HEADINGS. The headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement.
  
 18. NOTICES. Any notices or communications required or permitted to be given by this Agreement must be (i) given in writing, and (ii) be personally delivered or mailed by prepaid mail or overnight courier, or by facsimile transmission delivered or transmitted to the party to whom such notice or communication is directed, to the address of such party as follows:
  
 To Seller:
  
 Consolidated Apparel 
 Eugene Caiazzo
 1300 N. Florida Mango Road – Ste. 30
 West Palm Beach, Florida 33409
  
 To Buyer: 
  
 Integrated Cannabis Solutions, Inc.
Matthew Dwyer
6810 N State Road 7
Coconut Creek, FL 33073
  
 Any such notice or communication shall be deemed to have been given on (i) the day such notice or communication is personally delivered, (ii) three (3) days after such notice or communication is mailed by prepaid certified or registered mail, (iii) one (1) working day after such notice or communication sent by overnight courier, or (iv) on the day such notice or communication is faxed and the sender has received a confirmation of such fax. Any party may, for purposes of this Agreement, change its address, fax number, or the person to whom a notice or other communication is marked to the attention of, by giving notice of such change to the other parties.
  
 19. AMENDMENTS. This Agreement may be amended at any time by a written instrument signed by the Buyer and the Seller.
  
 20. SEVERABILITY. If any provision contained in this Agreement shall for any reason be held to be invalid, illegal, void or unenforceable in any respect, such provision shall be deemed modified so as to constitute a provision conforming as nearly as possible to the invalid, illegal, void or unenforceable provision while still remaining valid and enforceable and the remaining terms or provisions contained in this Agreement shall not be affected thereby.
  
 21. PREVAILING PARTY. In the event that either party brings any suit, action or proceeding against the other party for any reason arising from or related to this Agreement, then the prevailing party shall be entitled to recover from the other party any and all costs and expenses, including reasonable attorney fees, arising from or related to the suit, action or proceeding.
  
 	 
	5
	

	 

  
 22. FURTHER ACTIONS. From and after the execution of this Agreement, the Buyer and the Seller agree to, upon the request of the other party, execute and deliver to the other party any further documents, certificates or instruments, and to perform any further acts as may be required or reasonably requested to complete or evidence the transaction contemplated by this Agreement.
  
 23. CONSTRUCTION. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted by the Buyer and the Seller, and no presumption or burden of proof shall arise favoring or disfavoring either party by virtue of the authorship of any of the provisions of this Agreement.
  
 24. GOVERNING LAW; VENUE; JURISDICTION. All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Florida or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Florida. The Buyer and the Seller further agree that any dispute arising out of this Agreement shall be decided by either the state or federal court in Fort Lauderdale, Florida. The Buyer and the Seller shall each submit to the jurisdiction of those courts and agree that service of process by certified mail, return receipt requested, shall be sufficient to confer said courts with in personam jurisdiction.
  
 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the day and year first written above.
  
 Integrated Holding Solutions, Inc. 
  
 By: /s/ Matthew Dwyer                
        Matthew Dwyer, President
  
 Consolidated Apparel, Inc. 
  
 By: /s/ Eugene Caiazzo                
        Eugene Caiazzo, President 
  
 /s/ Eugene Caiazzo               
 Eugene Caiazzo
  
 	 
	6
	

	 

  
 EXHIBIT 1
  
 	 BDC Florida LLC
	  

	 Combined Asset & Liability Listing 12.31.20 & 6.30.21
	  

	  
	  

	  
	  
	 Dec 31, 20
	  
	  
	 June 30, 2021
	  

	  
	  
	 Native Outfitters
	  
	  
	 Incite
	  
	  
	 Totals
	  
	  
	 Native Outfitters
	  
	  
	 Incite
	  
	  
	 Totals
	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Assets
	  

	 Bank accounts
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 WF Merchant 
	  
	  
	519.14	  
	  
	  
	  
	  
	  
	519.14	  
	  
	  
	614.07	  
	  
	  
	  
	  
	  
	614.07	  

	 WF Operating 
	  
	  
	30,051.02	  
	  
	  
	856.86	  
	  
	  
	30,907.88	  
	  
	  
	24,740.06	  
	  
	  
	262.70	  
	  
	  
	25,002.76	  

	 WF Payroll 
	  
	  
	69.44	  
	  
	  
	  
	  
	  
	  
	69.44	  
	  
	  
	16,445.99	  
	  
	  
	  
	  
	  
	  
	16,445.99	  

	 Total Bank Accounts
	  
	  
	30,639.60	  
	  
	  
	856.86	  
	  
	  
	31,496.46	  
	  
	  
	41,800.12	  
	  
	  
	262.70	  
	  
	  
	42,062.82	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Accounts Receivable - See detailed AR report
	  
	  
	44,602.01	  
	  
	  
	2,883.00	  
	  
	  
	47,485.01	  
	  
	  
	115,667.88	  
	  
	  
	140.90	  
	  
	  
	115,808.78	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Inventory Asset
	  
	  
	218,903.28	  
	  
	  
	13,575.40	  
	  
	  
	232,478.68	  
	  
	  
	193,218.45	  
	  
	  
	13,575.40	  
	  
	  
	206,793.85	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Furniture & Equipment - net of Depreciation - See FA Sch
	  
	  
	11,254.48	  
	  
	  
	53,274.00	  
	  
	  
	64,528.48	  
	  
	  
	11,254.48	  
	  
	  
	46,131.00	  
	  
	  
	57,385.48	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Intangible Assets net of Amortization - See FA Sch
	  
	  
	348,303.13	  
	  
	  
	287,223.00	  
	  
	  
	635,526.13	  
	  
	  
	348,303.13	  
	  
	  
	287,223.00	  
	  
	  
	635,526.13	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Due from MTO Wear
	  
	  
	30,423.73	  
	  
	  
	  
	  
	  
	  
	30,423.73	  
	  
	  
	2,023.73	  
	  
	  
	  
	  
	  
	  
	2,023.73	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Employee Advances
	  
	  
	3,000.00	  
	  
	  
	  
	  
	  
	  
	3,000.00	  
	  
	  
	10,030.39	  
	  
	  
	  
	  
	  
	  
	10,030.39	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Security Deposit
	  
	  
	21,223.85	  
	  
	  
	  
	  
	  
	  
	21,223.85	  
	  
	  
	21,223.85	  
	  
	  
	  
	  
	  
	  
	21,223.85	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Total Assets
	  
	  
	708,350.08	  
	  
	  
	357,812.26	  
	  
	  
	1,066,162.34	  
	  
	  
	743,522.03	  
	  
	  
	347,333.00	  
	  
	  
	1,090,855.03	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Liabilities

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Accounts Payable - See detailed AP report
	  
	  
	34,815.44	  
	  
	  
	  
	  
	  
	  
	34,815.44	  
	  
	  
	58,175.65	  
	  
	  
	  
	  
	  
	  
	58,175.65	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Credit Card Payable
	  
	  
	17,840.56	  
	  
	  
	  
	  
	  
	  
	17,840.56	  
	  
	  
	32,616.44	  
	  
	  
	  
	  
	  
	  
	32,616.44	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 WF Line of Credit
	  
	  
	72,792.73	  
	  
	  
	  
	  
	  
	  
	72,792.73	  
	  
	  
	8,939.05	  
	  
	  
	  
	  
	  
	  
	8,939.05	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Quarterspot Loan
	  
	  
	32,160.00	  
	  
	  
	  
	  
	  
	  
	32,160.00	  
	  
	  
	-	  
	  
	  
	  
	  
	  
	  
	-	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Note Payable RP Caiazzo
	  
	  
	345,064.58	  
	  
	  
	(10,000.00	)	  
	  
	335,064.58	  
	  
	  
	338,610.42	  
	  
	  
	(10,000.00	)	  
	  
	328,610.42	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 WF - SBA Loan
	  
	  
	293,588.42	  
	  
	  
	262,547.81	  
	  
	  
	556,136.23	  
	  
	  
	273,778.23	  
	  
	  
	247,441.79	  
	  
	  
	521,220.02	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Cares Act SBA Loan 
	  
	  
	53,600.00	  
	  
	  
	  
	  
	  
	  
	53,600.00	  
	  
	  
	53,600.00	  
	  
	  
	  
	  
	  
	  
	53,600.00	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Total Liabilities 
	  
	  
	849,861.73	  
	  
	  
	252,547.81	  
	  
	  
	1,102,409.54	  
	  
	  
	765,719.79	  
	  
	  
	237,441.79	  
	  
	  
	1,003,161.58	  

   
 	 
	 
	

	 

  
 EXHIBIT 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00333-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00333-of-00352.parquet"}]]