Document:

Exhibit
10.1

 

August 18,
2021

 

NewAge, Inc.

2420 17th
Street, Suite 220

Denver, Colorado
80202

 

	 	Re:	Amended
    and Restated Agreement and Plan of Merger dated September 30, 2020

 

Ladies and
Gentlemen:

 

This
letter agreement (this “Agreement”) is made by the undersigned under the Amended and Restated Agreement and Plan of
Merger dated September 30, 2020 (as amended by the letter agreement dated November 16, 2020, the “Merger Agreement”),
by and among NewAge, Inc., (“Parent”), Ariel Merger Sub, LLC, Ariel Merger Sub 2, LLC, Ariix, LLC, the “Sellers”
identified therein, and Frederick W. Cooper solely in his capacity as Sellers Agent thereunder (“Sellers Agent”).
Capitalized terms used but not defined in this Agreement have the respective meanings set forth in the Merger Agreement.

 

	1.	Section
    2.4(c). Section 2.4(c) of the Merger Agreement is amended and restated in its entirety to state:

 

	 	 	“(c)
    On the date that is 30 days after Shareholder Approval, Parent shall issue and deliver to certain Members, the Thirty-Day Consideration,
    as determined in accordance with the Payment Schedule and Exhibit 2.4(b), free and clear of all Encumbrances other than those
    arising under securities Laws and under the Lock- Up Letter.”

 

	2.	Section
    5.12. The first sentence of Section 5.12 of the Merger Agreement is amended to delete the phase “other than Frederick Cooper.”
	 	 
	3.	Issuance
    of Shares. Parent is not obligated to issue any shares of Common Stock under the Merger Agreement unless and until the Sellers
    Agent has provided a Payment Schedule with respect to such issuance.
	 	 
	4.	Termination
    of Agreement. The Non-Compete, Non-Solicitation and Non-Disparagement Agreement, dated November 16, 2020 (and executed on January
    28, 2021), between Dr. Frederick Cooper and Parent is hereby terminated and is null and void for all purposes.
	 	 
	5.	Amendment
    and Modification, Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by
    the parties hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
    and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising,
    any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any
    single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the
    exercise of any other right, remedy, power or privilege.

 

    	 

     

    

 

	Very
    truly yours,	 
	 	 
	By:	/s/
    Frederick W. Cooper	 
	Name:	Frederick
    W. Cooper, individually and as Sellers Agent	 
	 	 	 
	ARIIX,
    LLC	 
	 	 	 
	By:	NewAge,
    Inc.	
	 	Sole
    Member	 
	 	 	 
	By:	/s/
    Brent Willis	 
			
	Name:
    	Brent
    Willis	 
	 	 	 
	Accepted
    and agreed:	 
	 	 	 
	NEWAGE,
    INC.	 
	 	 	 
	By:	/s/
    Brent Willis	 
	Name:	Brent
    Willis	
	Its:	Chief Executive Officer	

 

Signature
Page to Letter AgreementExhibit
10.2

August
19, 2021

 

NewAge,
Inc.

2420
17th Street, Suite 220

Denver,
Colorado 80202

 

	 	Re:	Amended and Restated Agreement and Plan of Merger dated September
30, 2020 

 

 Ladies
and Gentlemen: 

 

This
letter agreement (this “Agreement”) is made by the undersigned under the Amended and Restated Agreement and Plan of
Merger dated September 30, 2020, as amended by the letter agreement dated November 16, 2020, (the “Merger Agreement”)
by and among NewAge, Inc., (“Parent”), Ariel Merger Sub, LLC, Ariel Merger Sub 2, LLC, Ariix, LLC, the “Sellers”
identified therein, and Frederick W. Cooper solely in his capacity as Sellers Agent thereunder (“Sellers Agent”).
Capitalized terms used but not defined in this Agreement have the respective meanings set forth in the Merger Agreement.

 

	1.	Article
    10, CERTAIN DEFINITIONS, defines “First Anniversary Stock Consideration Payment” as “25,500,000 shares
    of Common Stock,” subject to adjustment as stated in the definition of “Stock Consideration.” Pursuant to
    Section 2.4(d) of the Merger Agreement, the First Anniversary Stock Consideration Payment is payable on or after September 30, 2021,
    distributed to certain Members as instructed by Sellers Agent.
	 	 
	2.	The
    parties desire that an advance payment of a portion of the First Anniversary Stock Consideration Payment be made to certain Members
    in the form of a $5,000,000 (five million dollar) cash payment in lieu of a later payment of Common Stock in value equal to $5,000,000.
	 	 
	3.	Therefore,
    on a present or future effective date selected by Sellers Agent (designated by him beside his signature below), Parent shall pay
    certain Members (as instructed by Sellers Agent) the sum of $5,000,000 (five million dollars). On that same effective date, the market
    value of Common Stock at Nasdaq at closing shall establish the value and number of shares that are to be deducted from the First
    Anniversary Stock Consideration Payment. By way of example, if on the effective date the market value of Common Stock at closing
    were $2 per share, then 2,500,000 shares would be deducted from the First Anniversary Stock Consideration Payment leaving a balance
    of 23,000,000 shares payable by Parent, subject to adjustment, on or after September 30, 2021.
	 	 
	4.	Amendment
    and Modification, Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by
    the parties hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing
    and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising,
    any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any
    single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the
    exercise of any other right, remedy, power or privilege.

 

    	 

     

    

 

	Very truly yours,
	 	 	 	 
	/s/ Frederick W. Cooper	 	Aug-19-2021
	Frederick W. Cooper, Sellers Agent	 	Effective
    date of Agreement
	 	 	 	 
	ARIIX, LLC
	 	 	 	 
	By:	 NewAge, Inc.
    	 	
	 	 Sole Member	 	
	 	 	 	 
	By:
    	/s/ Brent Willis	 	
	Name:	  Brent Willis
    	 	
	 	 	 	 
	Accepted and agreed:	 	 
	 	 	 
	NEWAGE, INC.	 	 
	 	 	 	 
	By:	/s/ Brent Willis	 	
	Name:	Brent
    Willis	 	
	Its:	Chief
Executive Officer	 	

 

Signature
Page to Letter AgreementExhibit
10.3

 

AMENDMENT
AGREEMENT

 

This
AMENDMENT AGREEMENT (this “Agreement”) is dated as of August 13, 2021, and is between NewAge, Inc., a Delaware corporation
(the “Company”), each of the Subsidiary Guarantors identified on the signature pages hereto (the “Subsidiary
Guarantors”), each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser”
and collectively, the “Purchasers”), and JGB Collateral, LLC, a Delaware limited liability company, in its capacity
as agent for the Purchasers (“Agent”). The Company, the Subsidiary Guarantors, the Purchasers and the Agent, are hereinafter
sometimes collectively referred to as the “Parties” and each individually as a “Party”.

 

WHEREAS,
the Company, the Subsidiary Guarantors and the Purchasers are party to that certain Securities Purchase Agreement dated November 30,
2020 (the “SPA” and capitalized terms used herein but not otherwise defined herein shall have the respective meanings
given such terms in the SPA);

 

WHEREAS,
subject to the satisfaction of the conditions precedent set forth herein, the Purchasers and Agent shall waive the Company’s compliance
with certain obligations set forth in the SPA; and

 

WHEREAS,
subject to the satisfaction of the conditions precedent set forth herein, the Company, the Subsidiary Guarantors, and the Purchasers
desire to amend certain terms of the Notes.

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Company, the Subsidiary Guarantors, the Purchasers, and solely for the purposes of
Section 3, the Agent, agree as follows:

 

1.
Waiver. Subject to the satisfaction of the conditions precedent set forth in Section 2, the Purchasers and Agent grant
a one-time waiver of the provisions of Section 3.1(nn) and Section 4.6 of the SPA solely to permit the Company to make a $5,000,000 cash
payment to the Members under the Merger Agreement on or around the date hereof. The Company agrees that other than the foregoing cash
payment of $5,000,000 it shall not make any other payment under the Merger Agreement in cash and any remaining payment obligations under
the Merger Agreement shall be made solely in shares of Common Stock.

 

2.
Amendment to Notes. In consideration of the waivers set forth in Section 1 above, the Company hereby agrees that Notes are hereby
amended by replacing the reference to “$8,000,000” set forth in Section 4(c) of the Notes with “$12,000,000”.

 

3.
Conditions Precedent. This Agreement and the agreements of the Parties hereunder are subject to the satisfaction of the following
conditions precedent:

 

(a)
Each Party shall have delivered an executed counterpart of its signature page to this Agreement to each other Party; and

 

(b)
The Company’s representations and warranties set forth in Section 4 below shall be true and correct in all respects.

 

    	 

    	 

    

 

4.
Representations and Warranties. The Company and the Subsidiary Guarantors represent, warrant and agree that (1) no Event of Default
under the Notes has occurred and is continuing, (2) except as set forth in the Company’s publicly available reports filed with
the Commission through the date hereof, all of the representations and warranties set forth in Section 3.1 remain true and correct, (3)
the Purchasers have complied with their obligations under the Transaction Documents and have acted in a commercially reasonable manner,
and (4) all of the Company’s and the Subsidiary Guarantors’ obligations under the Transaction Documents, whether monetary
or otherwise, are valid and binding obligations not subject to any defenses, set off or counterclaims of any nature.

 

5.
Post-Closing Obligations. The Company acknowledges that it has not fulfilled all of its obligations under Section 2.4 of the Purchase
Agreement. The Company shall continue to use its best efforts to meet the requirements of Section 2.4 of the Purchase Agreement and neither
any prior delays in fulfilling such conditions nor Purchasers’ entry into the transactions contemplated hereby shall not be deemed
a waiver of any such conditions.

 

6.
Miscellaneous.

 

(a)
This Agreement is a Transaction Document.

 

(b)
Except as expressly set forth herein, the Transactions Documents remain unmodified and in full force and effect. Nothing herein shall
be deemed a continuing waiver of any provision of the Transaction Document.

 

(c)
SECTIONS 6.6 (HEADINGS), 6.9 (GOVERNING LAW), 6.11 (EXECUTION), 6.15 (REMEDIES),
6.19 (CONSTRUCTION) AND 6.21 (WAIVER OF JURY TRIAL) OF THE SPA ARE HEREBY INCORPORATED INTO THIS AGREEMENT,
MUTATIS MUTANDIS, AS A PART HEREOF FOR ALL PURPOSES.

 

(d)
The Company shall file a Form 8-K with Commission publicly disclosing the material terms of this Agreement within the time period required
under Exchange Act and the requirements of Form 8-K.

 

[Signature
Page Follows]

 

    	2

    	 

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their respective officers or representatives thereunto
duly authorized.

 

COMPANY:

 

	NEWAGE,
    INC.	 
	 	 	 
	By:	/s/
    Kevin Manion	 
	Name:	Kevin
    Manion	 
	Title:	Chief
    Financial Officer	 

 

Signature
Page to Amendment to Agreement 

 

    	3

    	 

    

 

SUBSIDIARY
GUARANTORS:

 

Ariel
Merger Sub 2, LLC

Morinda
Magyarorszag KFT (Hungary) Morinda Hong Kong Limited

Morinda
Sweden AB

Morinda
Norway AS

Morinda
International (Australia) PTY Ltd.

Morinda
Singapore PTE. Ltd.

Morinda
Korea, Inc.

 

	By:
  	/s/
  Brent D. Willis	 
	Name:	Brent D. Willis	 

 

As
Manager of Ariel Merger Sub 2, LLC (now known as Ariix LLC)

As
Managing Director of Morinda Magyarorszag KFT (Hungary)

As
Authorized Signatory of Morinda Hong Kong Limited

As
Director of Morinda Sweden AB and Morinda Norway AS

As
Director of Morinda International (Australia) PTY Ltd. and Morinda Singapore PTE. Ltd.

As
President of Morinda Korea, Inc.

 

Signature
Page to Amendment Agreement

 

    	4

    	 

    

 

NABC,
Inc.

NABC
Properties, LLC

Morinda
Holdings, Inc.

Morinda
JAPAN GK

PT
Tahitian Noni International, Indonesia PT Morinda Independent

Morinda
Deutschland GMBH

 

 

	By:	/s/
    Carl A. Aure	 
	Name:	Carl A. Aure	 

  

As
Authorized Signatory of NABC, Inc.; PT Tahitian Noni International, Indonesia; PT

Morinda
Independent; Morinda Deutschland GMBH,

As
Chief Accounting Officer of the sole member of NABC Properties, LLC

As
Senior Vice President of Morinda Holdings, Inc.

As
Executive Manager of Morinda JAPAN GK

 

Signature
Page to Amendment Agreement

 

    	5

    	 

    

 

Tropical
Resources, Inc.

Morinda
Inc.

Morinda
USA, Inc.

Morinda
Access, Inc.

Morinda
Worldwide, Inc

Morinda
International Holding Co, Inc.

Morinda
International Asia, Inc.

 

	By:	/s/
    Carl A. Aure	 
	Name:	Carl A. Aure	 
	Title:	Sr. VP, Finance &
    Taxation	 

 

Morinda
Worldwide Mexico SRL

 

	By:	/s/
    Carl A. Aure	 
	Name:	Carl A. Aure	 
	Title:	Supervisory Officer	 

  

Morinda
International Tahiti

Morinda
Vietnam

 

	By:	/s/
    Carl A. Aure	 
	Name:	Carl A. Aure	 
	Title:	Legal Representative	 

 

Signature
Page to Amendment Agreement 

 

    	6

    	 

    

 

Tahitian
Noni Beverages (China) Ltd.

 

	By:	/s/
    Brent D. Willis	 
	Name:	Brent D. Willis	 
	Title:	Authorized Signatory	 

 

Morinda
Worldwide Peru S.R.L.

 

	By:	/s/
    Carl A. Aure	 
	Name:	Carl A. Aure, Authorized
    Signatory	 
	Title:	Sr.
    VP, Finance & Taxation of sole shareholders	 

 

Signature
Page to Amendment Agreement 

 

    	7

    	 

    

 

PURCHASERS:

 

JGB
Capital LP

 

	By:	/s/
    Brett Cohen	 
	Name:	Brett Cohen	 
	Title:

	President	 

 

Signature
Page to Amendment Agreement 

 

    	8

    	 

    

 

JGB
Partners LP

 

	By:	/s/
    Brett Cohen	 
	Name:	Brett Cohen	 
	Title:	President	 

 

Signature
Page to Amendment Agreement 

 

    	9

    	 

    

 

JGB
Capital Offshore Ltd.

 

 

	By:	/s/
    Brett Cohen	 
	Name:	Brett Cohen	 
	Title:	President	 

 

Signature
Page to Amendment Agreement 

 

    	10

    	 

    

 

JGB
Plymouth Rock LLC

 

	By:	/s/
    Brett Cohen	 
	Name:	Brett Cohen	 
	Title:	President	 

 

Signature
Page to Amendment Agreement 

 

    	11

    	 

    

 

AGENT:

 

JGB
COLLATERAL, LLC

 

	By:	/s/
    Brett Cohen	 
	Name:	Brett Cohen	 
	Title:	President	 

 

    	12

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