Document:

Exhibit 10.3

 

COMMON STOCK REPURCHASE AGREEMENT

 

THIS COMMON STOCK REPURCHASE
AGREEMENT (the “Agreement”) is entered into as of December 23, 2021 by and between B2Digital, Incorporated, a Delaware
corporation (the “Company”), and Mike Davis (the “Stockholder”).

 

RECITALS

 

WHEREAS, the Stockholder
is the holder of 6,500,000 shares of the Company’s common stock represented by share certificates 9870 and 9900 (the “Shares”);
and

 

WHEREAS, the Stockholder
desires to sell, and the Company desires to repurchase, the Shares on the terms and subject to the conditions set forth in this Agreement
(the “Repurchase”).

 

NOW, THEREFORE, in
consideration of the promises, covenants and agreements herein contained, the parties agree as follows:

 

AGREEMENT

 

SECTION 1. REPURCHASE OF SHARES.

 

1.1               
Repurchase. At the Closing (as defined below), the Company hereby agrees to repurchase from the Stockholder, and the Stockholder
hereby agrees to sell, assign and transfer to the Company, all of the Stockholder’s right, title and interest in and to the Shares
at the per Share price of $0.0038, for an aggregate repurchase price of $24,700 (the “Repurchase Amount”). Upon the
execution of this Agreement, the Stockholder shall execute an Assignment Separate from Certificate, in the form attached hereto as Exhibit
A (the “Stock Assignment”), and at the Closing shall deliver the Stock Assignment and the stock certificate
representing the Shares (or an affidavit of lost certificate in lieu of the stock certificate representing the Shares). Upon consummation
of this Agreement, the Company shall cancel such stock certificates. The Repurchase Amount shall be paid by cash, check or wire transfer
of immediately available funds to an account or accounts to be designated by the Stockholder.

 

1.2               
Closing. The closing of the Repurchase (the “Closing”) shall take place at the offices of the Company, 4522 West
Village Drive, Tampa, FL 33624 on the date hereof, or at such other time and place as the parties hereto shall mutually agree.

 

1.3               
Termination of Rights as the Stockholder. Upon payment of the Repurchase Amount, the Shares shall cease to be outstanding for any
and all purposes, and the Stockholder shall no longer have any rights as a holder of the Shares, including any rights that the Stockholder
may have had under the Company’s Certificate of Incorporation or otherwise.

 

1.4               
Withholding Rights. The Company shall be entitled to deduct and withhold from the Repurchase Amount such amounts as it may be required
to deduct and withhold with respect to the making of such payment under the U.S. Internal Revenue Code of 1986, as amended, or any provision
of foreign, state or local tax law. To the extent that amounts are so withheld by the Company, such withheld amounts shall be treated
for all purposes of this Agreement as having been paid to the Stockholder.

 

SECTION 2. REPRESENTATIONS AND WARRANTIES.

 

In connection with the transactions
provided for hereby, the Stockholder represents and warrants to the Company as follows:

 

2.1               
Ownership of Shares. The Stockholder has good and marketable right, title and interest (legal and beneficial) in and to all of the
Shares, free and clear of all liens, pledges, security interests, charges, claims, equity or encumbrances of any kind. Upon paying for
the Shares in accordance with this Agreement, the Company will acquire good and marketable title to the Shares, free and clear of all
liens, pledges, security interests, charges, claims, equity or encumbrances of any kind.

 

 

 

    	 	1	 

     

    

 

2.2               
Authorization. The Stockholder has all necessary power and authority to execute, deliver and perform the Stockholder’s obligations
under this Agreement and all agreements, instruments and documents contemplated hereby and to sell and deliver the Shares being sold hereunder,
and this Agreement constitutes a valid and binding obligation of the Stockholder.

 

2.3               
No Conflict. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not result
in a breach by the Stockholder of, or constitute a default by the Stockholder under, any agreement, instrument, decree, judgment or order
to which the Stockholder is a party or by which the Stockholder may be bound.

 

2.4               
Experience and Evaluation. By reason of the Stockholder’s business or financial experience or the business or financial experience
of the Stockholder’s professional advisers who are unaffiliated with the Company and who are not compensated by the Company, the
Stockholder has the capacity to protect the Stockholder’s own interests in connection with the sale of the Shares to the Company.
The Stockholder is capable of evaluating the potential risks and benefits of the sale hereunder of the Shares.

 

2.5               
Access to Information. The Stockholder has received all of the information that the Stockholder considers necessary or appropriate
for deciding whether to sell the Shares hereunder and perform the other transactions contemplated hereby. The Stockholder further represents
that the Stockholder has had an opportunity to ask questions and receive answers from the Company regarding the business, properties,
prospects and financial condition of the Company and to seek from the Company such additional information as the Stockholder has deemed
necessary to verify the accuracy of any such information furnished or otherwise made available to the Stockholder by or on behalf of the
Company.

 

2.6               
No Future Participation. The Stockholder acknowledges that the Stockholder will have no future participation in any Company gains,
losses, profits or distributions with respect to the Shares. If the Shares increase in value by any means, or if the Company’s equity
becomes freely tradable and increases in value, the Stockholder acknowledges that the Stockholder is voluntarily forfeiting any opportunity
to share in any resulting increase in value from the Shares.

 

2.7               
Tax Matters. The Stockholder has had an opportunity to review with the Stockholder’s tax advisers the federal, state, local
and foreign tax consequences of the Repurchase and the transactions contemplated by this Agreement. The Stockholder is relying solely
on such advisers and not on any statements or representations of the Company or any of its agents. The Stockholder understands that the
Stockholder (and not the Company) shall be responsible for the Stockholder’s tax liability and any related interest and penalties
that may arise as a result of the transactions contemplated by this Agreement.

 

SECTION 3. SUCCESSORS AND ASSIGNS.

 

Except as otherwise provided
herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns
of the parties (including transferees of any Shares). Nothing in this Agreement, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by
reason of this Agreement, except as expressly provided in this Agreement.

 

SECTION 4. GOVERNING LAW.

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of Florida, except the choice-of-law provisions thereof.

 

SECTION 5. ENTIRE AGREEMENT.

 

This Agreement contains the
entire understanding of the parties, and there are no further or other agreements or understandings, written or oral, in effect between
the parties relating to the subject matter hereof, except as expressly referred to herein.

 

 

 

 

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SECTION 6. AMENDMENTS AND WAIVERS.

 

Any term of this Agreement
may be amended, and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Stockholder and the Company.

 

SECTION 7. FURTHER ACTION.

 

Each party hereto agrees to
execute any additional documents and to take any further action as may be necessary or desirable in order to implement the transactions
contemplated by this Agreement.

 

SECTION 8. SURVIVAL.

 

The representations and warranties
herein shall survive the Closing.

 

SECTION 9. SEVERABILITY.

 

Whenever possible, each provision
of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of
such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

 

SECTION 10. NOTICES.

 

All notices and other communications
given or made pursuant hereto shall be in writing and shall be deemed effectively given (a) upon personal delivery to the party to
be notified, (b) when sent by confirmed facsimile, if sent during normal business hours of the recipient or, if not, then on the
next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid,
or (d) one day after deposit with a nationally recognized overnight courier, specifying next-day delivery, with written verification
of receipt. All communications shall be sent to the respective parties at the addresses set forth on the signature pages attached hereto
(or at such other addresses as shall be specified by notice given in accordance with this Section 10).

 

SECTION 11. COUNTERPARTS.

 

This Agreement may be executed
in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

 

 

 

 

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IN WITNESS WHEREOF,
each of the parties has executed this Stock Repurchase Agreement as of the day and year first above written.

 

	 	COMPANY:
	 	 
	 	B2Digital, Incorporated
	 	 	 
	 	By	
    /s/ Greg P. Bell

	 	Name: Greg P. Bell
	 	Title: Chief Executive Officer

 

	 	STOCKHOLDER:
	 	 
	 	
    /s/ Mike Davis

	 	Name: Mike Davis
	 	 
	 	Address:

 

 

 

 

 

 

 

 

 

 

    	 	4	 

     

    

 

ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED, the Stockholder
hereby sells, assigns and transfers unto B2Digital, Incorporated (the “Company”) 6,500,000 shares of the Company’s
common stock standing in the Stockholder’s name on the books of the Company and represented by Certificate Numbers 9870 and 9900
herewith and does hereby irrevocably constitutes and appoints B2Digital, Incorporated, to transfer such stock on the books of the Company
with full power of substitution in the premises.

 

	Dated:	 	
    12/23/21
	 

 

	 	STOCKHOLDER
	 	 
	 	/s/ Mike Davis
	 	Name: Mike Davis

 

This Assignment Separate from
Certificate was executed pursuant to the terms of that certain Stock Repurchase Agreement by and between B2Digital, Incorporated and the
Stockholder dated December 23, 2021.

 

 

 

 

 

 

 

 

 

 

 

 

    	 	5Exhibit
10.1

 

PROMISSORY
NOTE

 

	$___________	As
    of __, 2022_

 

FoxWayne
Enterprises Acquisition Corp. (“Maker”) promises to pay to the order of _________________ or its successors or assigns (“Payee”)
the principal sum of _____________________________ ($____________) in lawful money of the United States of America, on the terms and
conditions described below.

 

1.
Principal. The principal balance of this Note shall be repayable on the consummation of the Maker’s initial merger, share
exchange, asset acquisition or other similar business combination with one or more businesses or entities (a “Business Combination”).
Holder understands that if a Business Combination is not consummated, this Note will not be repaid and all amounts owed hereunder will
be forgiven except to the extent that the Maker has funds available to it outside of its trust account established in connection with
its initial public offering.

 

2.
Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

3.
Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any
sum due under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

4.
Events of Default. The following shall constitute Events of Default:

 

a.
Failure to Make Required Payments. Failure by Maker to pay the principal of this Note within five (5) business days following
the date when due.

 

b.
Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal Bankruptcy Code, as now constituted
or hereafter amended, or any other applicable federal or state bankruptcy, insolvency, reorganization, rehabilitation or other similar
law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator
(or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit
of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker
in furtherance of any of the foregoing.

 

c.
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect
of maker in an involuntary case under the Federal Bankruptcy Code, as now or hereafter constituted, or any other applicable federal or
state bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or
similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and
the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

 

5.
Remedies.

 

a.
Upon the occurrence of an Event of Default specified in Section 4(a), Payee may, by written notice to Maker, declare this Note to be
due and payable, whereupon the principal amount of this Note, and all other amounts payable thereunder, shall become immediately due
and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained
herein or in the documents evidencing the same to the contrary notwithstanding.

 

b.
Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of, and all other sums payable
with regard to, this Note shall automatically and immediately become due and payable, in all cases without any action on the part of
Payee.

 

    	-1-

     

    

 

6.
Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice
of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted
by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale
under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees
that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon,
may be sold upon any such writ in whole or in part in any order desired by Payee.

 

7.
Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or
enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any
other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee
with respect to the payment or other provisions of this Note, and agree that additional makers, endorsers, guarantors, or sureties may
become parties hereto without notice to them or affecting their liability hereunder.

 

8.
Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested,
(ii) personally delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted
delivery, (iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate
by notice in accordance with this Section:

 

If
to Maker:

______________

______________

______________

 

If
to Payee:

______________

______________

______________

 

Notice
shall be deemed given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission
confirmation, (iii) the date on which an e-mail transmission was received by the receiving party’s on-line access provider (iv)
the date reflected on a signed delivery receipt, or (vi) two (2) Business Days following tender of delivery or dispatch by express mail
or delivery service.

 

9.
Construction. This Note shall be construed and enforced in accordance with the domestic, internal law, but not the law of conflict
of laws, of the State of New York.

 

10.
Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

    	-2-

     

    

 

IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed the day and year first above written.

 

	 	FOXWAYNE
    ENTERPRISES ACQUISITION CORP.
	 	 	                
	 	By:	 
	 	Name: 	 
	 	Title:	 

 

    	-3-

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