Document:

Exhibit 10.55

 

NEITHER THIS CONVERTIBLE PROMISSORY
NOTE NOR THE SECURITIES UNDERLYING THIS CONVERTIBLE PROMISSORY NOTE, NOR ANY SECURITIES ISSUABLE UPON ITS CONVERSION, IF ANY, HAVE
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR QUALIFIED UNDER APPLICABLE STATE SECURITIES
LAWS AND MAY ONLY BE ACQUIRED FOR INVESTMENT PURPOSES ONLY AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION
THEREOF. THIS CONVERTIBLE PROMISSORY NOTE AND THE SECURITIES UNDERLYING THIS CONVERTIBLE PROMISSORY NOTE, OR THE SECURITIES ISSUABLE
UPON ITS CONVERSION, IF ANY, MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO SUCH SECURITIES UNDER THE ACT AND QUALIFICATION UNDER APPLICABLE STATE LAW WITHOUT AN OPINION OF COUNSEL SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION AND QUALIFICATION ARE NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE
SECURITIES AND EXCHANGE COMMISSION.

 

JERRICK MEDIA HOLDINGS, INC.

 

CONVERTIBLE PROMISSORY NOTE

 

Dated:

(“Issuance Date”)

 

FOR VALUE RECEIVED
JERRICK MEDIA HOLDINGS, INC., a company organized under the laws of Nevada (the “Company”), hereby promises
to pay to [______] (the “Payee”), or its registered assigns, the principal amount of [________] ($[__]
USD) together with interest thereon calculated from the Issuance Date (“Interest Commencement Date”) in accordance
with the provisions of this Convertible Promissory Note (as amended, modified and supplemented from time to time, this “Note”
and together with any other Notes issued in the Note Issuance (as defined below) or upon transfer or exchange, the “Notes”).
Capitalized terms not defined in this Note shall have the meaning ascribed to them in the Securities Purchase Agreement dated as
of the date hereof.

 

Certain capitalized terms are defined in
Section 8 hereof.

 

1. Payment of Interest.
Interest shall accrue at a rate equal to ten percent (10%) per annum (the “Interest Rate”) beginning on
the Interest Commencement Date on the unpaid principal amount of this Note and shall be payable in kind upon the six (6) month
anniversary of the Interest Commencement Date; provided that the interest rate shall increase five percent (5%) above the
current Interest Rate so long as any Event of Default has occurred and is continuing. In no event shall any interest to be paid
under the Notes exceed the maximum rate permitted by law. In any such event, the Note shall automatically be deemed amended to
permit interest charges at an amount equal to, but not greater than, the maximum rate permitted by law. Interest shall be computed
on the basis of the actual number of days elapsed and a 360-day year.

 

2. Maturity Date.
The entire principal amount of this Note shall be due and payable in full in cash in immediately available funds six (6) months
from the date of issuance (such date, the “Maturity Date”) upon the tender of such Note by Payee. The accrued,
but unpaid interest on this Note shall be due and payable in the form of the Company’s Common Stock upon the Maturity Date
at the conversion price then in effect of this Note.

 

3. Conversion.

 

(i) 

 

(a) Optional Conversion. The
Payee shall have the option to (i) convert this Note and any accrued but unpaid interest into shares of the Company’s Common
Stock at any time during the term of the Note or (ii) upon the Maturity Date, tender this Note to the Company for immediate repayment
of principal and accrued and unpaid interest in the Company’s Common Stock. The number of shares that shall be issuable upon
conversion of the Note shall equal the lesser of (i) the number derived by dividing (x) the principal amount of the Note
plus any accrued and unpaid interest thereon by (y) US $12.75 (four dollars and twenty-five cents US) or (ii) 80% of the price
provided to investors in connection with the Qualified Offering.

 

     

     

    

 

(b) Mandatory Conversion.
In the event that the Payee does not choose to convert the Note into the Company’s Common Stock on or prior to the Maturity
Date, the principal and interest evidenced by the Note shall be mandatorily converted upon the earlier of (i) the listing of the
Company’s Common Stock onto a national securities exchange, or (ii) upon a Qualified Offering. Upon the closing of the Qualified
Offering, or on the day the Company begins trading on a national securities exchange (whichever is to occur first), the outstanding
principal amount of, and all accrued but unpaid interest on, this Note will automatically be converted into Common Stock equal
to the lesser of (i) the number derived by dividing (x) the principal amount of the Note plus any accrued and unpaid interest thereon
by (y) US $12.75 (four dollars and twenty-five cents US) or (ii) 80% of the price provided to investors in connection with the
Qualified Offering.

 

No fractional shares
shall be issued upon a conversion. In lieu of any fractional shares to which Payee would otherwise be entitled, the Company shall
round up to the nearest whole share. Should the Qualified Offering of such securities provide for the issuance of warrants, the
Holder hereof would also be entitled to such warrant, all on the same terms and conditions and in the same form as provided in
the offering documentation governing the Qualified Offering.

 

In order to convert
this Note in to Common Stock, the Holder must deliver a dated and signed notice of conversion (the “Notice of Conversion”),
a copy of which is attached to this Note as Exhibit A, stating its intention to convert the full principal amount of this
Note into Common Stock, Notices of Conversion shall be deemed delivered on the date sent, if personally delivered, to the Company’s
Chief Executive Officer at the Company’s principal place of business, or when actually received if sent by another method.
The Notice of Conversion shall be accompanied by the original Note.

 

(ii)  As
soon as possible after the conversion has been effected (but in any event within two (2) Business Days), the Company or acquirer
shall deliver to the converting holder a certificate or certificates representing the Common Stock issuable by reason of such conversion
in such name or names and such denomination or denominations as the converting holder has specified. In the event that the Payee
elects to tender this Note to the Company for immediate repayment, such payment shall be delivered to the Payee within five (5)
business days to the address provided by the Payee to the Company at the time of the surrender of this Note.

 

(iii)  The
issuance of Common Stock upon conversion of this Note shall be made without charge to the holder hereof in respect thereof or other
cost incurred by the Company or acquirer in connection with such conversion. Upon conversion of this Note, the Company shall take
all such actions as are necessary in order to ensure that the Company’s Common Stock issuable upon conversion of the Note
shall be validly issued, fully paid and nonassessable.

 

(iv)  Neither
the Company nor acquirer shall close its books against the transfer of this Note in any manner which interferes with the timely
conversion of this Note. The Company shall assist and cooperate with any holder of this Note required to make any governmental
filings or obtain any governmental approval prior to or in connection with the conversion of this Note (including, without limitation,
making any filings required to be made by the Company).

 

(v)  The
Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the
purpose of issuance upon conversion hereunder, such number of shares of Common Stock issuable upon conversion. All shares of such
capital stock which are so issuable shall, when issued, be duly and validly issued, fully paid and non-assessable and free from
all taxes, liens and charges. The Company shall take all such actions as may be necessary to assure that all such shares of capital
stock may be so issued without violation of any applicable law or governmental regulation or any requirements of any domestic securities
exchange upon which such shares of capital stock.

 

4. Prepayment.
The principal amount of this Note may be prepaid, in whole or in part, at any time from the date of issuance at the option of the
Company, together with Interest accrued to the date of prepayment. Any such prepayment shall be made pro rata based on such Payee’s
share of the aggregate principal amount then owed by the Company to all of the Payees under all the Notes.

 

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5. Method of Payments.

 

(i)  Payment.
So long as the Payee or any of its nominees shall be the holder of any Note, and notwithstanding anything contained elsewhere in
this Note to the contrary, the Company will pay all sums for principal, interest, or otherwise becoming due on this Note held by
the Payee or such nominee not later than 1:00 p.m. New York time, on the date such payment is due, in immediately available funds,
in accordance with the payment instructions that the Payee may designate in writing, without the presentation or surrender of such
Note or the making of any notation thereon. Any payment made after 1:00 p.m. New York time, on a Business Day will be deemed made
on the next following Business Day. If the due date of any payment in respect of this Note would otherwise fall on a day that is
not a Business Day, such due date shall be extended to the next succeeding Business Day, and interest shall be payable on any principal
so extended for the period of such extension. All amounts payable under this Note shall be paid free and clear of, and without
reduction by reason of, any deduction, set-off or counterclaim. The Company will afford the benefits of this Section to the Payee
and to each other Person holding this Note.

 

(ii)  Transfer
and Exchange. Upon surrender of any Note for registration of transfer or for exchange to the Company, in accordance with the
terms hereof, at its principal office, the Company at its sole expense will execute and deliver in exchange therefore a new Note
or Notes, as the case may be, as requested by the holder or transferee, which aggregate principal amount is equal the unpaid principal
amount of such Note, registered as such holder or transferee may request, dated so that there will be no loss of interest on the
Note and otherwise of like tenor; provided that this Note may not be transferred by Payee to any Person other than Payee’s
affiliates without the prior written consent of the Company (which consent shall not be unreasonably withheld or delayed). The
issuance of new Notes shall be made without charge to the holder(s) of the surrendered Note for any issuance tax in respect thereof
or other cost incurred by the Company in connection with such issuance, provided that each Noteholder shall pay any transfer taxes
associated therewith. The Company shall be entitled to regard the registered holder of this Note as the holder of the Note so registered
for all purposes until the Company or its agent, as applicable, is required to record a transfer of this Note on its register.

 

(iii)  Replacement.
Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of any Note and,
in the case of any such loss, theft or destruction of any Note, upon receipt of an indemnity reasonably satisfactory to the Company
or, in the case of any such mutilation, upon the surrender and cancellation of such Note, the Company, at its expense, will execute
and deliver, in lieu thereof, a new Note of like tenor and dated the date of such lost, stolen, destroyed or mutilated Note.

 

6.  Covenants
of the Company. The Company covenants and agrees as follows:

 

(i)  Consolidation,
Merger and Sale. With the exception of a reverse merger transaction, the Company will not sell or otherwise dispose of (or
permit any subsidiary to sell or otherwise dispose of) a material portion of its property or assets in one or more transactions
for so long as any of the Notes remain outstanding.

 

(ii)  Use
of Proceeds. The Company shall use the proceeds for general working capital purposes and will have broad discretion with respect
to the allocation of these funds.

 

7.  Events
of Default. If any of the following events take place before or on the Maturity Date (each, an “Event of Default”),
Payee at its option may declare all principal and accrued and unpaid interest thereon and all other amounts payable under this
Note immediately due and payable; provided, however, that this Note shall automatically become due and payable without
any declaration in the case of an Event of Default specified in clause (iii) or (v), below:

 

	 	(i)	Company fails to make payment of the full amount due under this Note upon the tender of such Note following the Maturity Date; or

 

	 	(ii)	A receiver, liquidator or trustee of Company or any substantial part of Company’s assets or properties is appointed by a court order; or

 

	 	(iii)	Company is adjudicated bankrupt or insolvent; or

 

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	 	(iv)	Any of Company’s property is sequestered by or in consequence of a court order and such order remains in effect for more than 30 days; or

 

	 	(v)	Company files a petition in voluntary bankruptcy or requests reorganization under any provision of any bankruptcy, reorganization or insolvency law or consents to the filing of any petition against it under such law, or

 

	 	(vi)	Proceedings for the appointment of a receiver, trustee or custodian of the Company or of all or a substantial part of the assets or property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within sixty (60) days of commencement.

 

	 	(vii)	Company makes a formal or informal general assignment for the benefit of its creditors, or admits in writing its inability to pay debts generally when they become due, or consents to the appointment of a receiver or liquidator of Company or of all or any part of its property; or

 

	 	(viii)	 An attachment or execution is levied against any substantial part of Company’s assets that is not released within 30 days; or

 

	 	(ix)	Company dissolves, liquidates or ceases business activity, or transfers any major portion of its assets other than in the ordinary course of business; provided that this paragraph (ix) shall not apply to any contemplated real estate transaction; or

 

	 	(x)	Company breaches any covenant or agreement on its part contained in this Note or the Securities Purchase Agreement and does not cure such breach within 10 Business Days; or

 

	 	(xi)	Any material inaccuracy or untruthfulness of any representation or warranty of the Company set forth in this Note, the Securities Purchase Agreement or other offering documents, schedules and exhibits related thereto.

 

8.  Definitions.

 

“Business
Day” means a day (other than a Saturday or Sunday) on which banks generally are open in New York, New York for the conduct
of substantially all of their activities.

 

“Noteholder”
or “Payee” with respect to any Note, means at any time each Person then the record owner hereof and “Noteholders”
or “Payees” means all of such Noteholders or Payees, collectively.

 

“Note Issuance”
or “Offering” shall mean the Convertible Promissory Notes issued by the Company to the Payee and other Noteholders
(each in substantially the form of this Note) in the original principal amount not to exceed $3,000,000 in the aggregate.

 

“Person”
means any person or entity of any nature whatsoever, specifically including an individual, a firm, a company, a corporation, a
partnership, a limited liability company, a trust or other entity.

 

“Qualified
Offering” means not including the Second Closing of this Offering (i) any private placement offerings or one or more
registered public offerings by the Company under the Securities Act, pursuant to which the Company receives monies in the amount
greater than $1,500,000 in exchange for securities of the Company between the First Closing Date and the date on which the Company’s
consummates a listing onto a national securities exchange, or (ii) any private placement offerings or one or more registered public
offerings by the Company under the Securities Act in connection with its listing onto a national securities exchange.

 

“Securities
Purchase Agreement” means the Securities Purchase Agreement, dated February ___, 2019 between the Company and the Payee.

 

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9.  Expenses
of Enforcement, etc. The Company agrees to pay all reasonable fees and expenses incurred by the Payee in connection with any
amendments, modifications, waivers, extensions, renewals, renegotiations or “workouts” of the provisions hereof or
incurred by the Payee in connection with the enforcement or protection of its rights in connection with this Note, or in connection
with any pending or threatened action, proceeding, or investigation relating to the foregoing, including but not limited to the
reasonable fees and disbursements of counsel for the Payee. The Company indemnifies the Payee and its directors, managers, affiliates,
partners, members, officers, employees and agents against, and agrees to hold the Payee and each such person and/or entity harmless
from, any and all losses, claims, damages, liabilities and related expenses, including reasonable counsel fees and expenses, incurred
by or asserted against the Payee or any such person and/or entity arising out of, in any way connected with, or as a result of
(i) the consummation of the loan evidenced by this Note and the use of the proceeds thereof or (ii) any claim, litigation, investigation
or proceedings relating to any of the foregoing, whether or not the Payee or any such person and/or entity is a party thereto other
than any loss, claim, damage, liability or related expense incurred or asserted against the payee or any such person on account
of the payee’s or such person’s gross negligence or willful misconduct. Notwithstanding the foregoing, with respect
to the indemnification obligations of the Company hereunder, (i) the Company’s aggregate liability under this Note to the
Payee shall not exceed the aggregate principal amount of the Note and all accrued and unpaid interest thereon and (ii) indemnified
liabilities shall not include any liability of any indemnitee arising out of such indemnitee’s gross negligence. To the extent
that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution
to the payment and satisfaction of each of the indemnified liabilities which is permissible under applicable law.

 

10.  Amendment
and Waiver. The provisions of this Note may not be modified, amended or waived, and the Company may not take any action herein
prohibited, or omit to perform any act herein required to be performed by it, without the written consent of the holder.

 

11.  Remedies
Cumulative. No remedy herein conferred upon the Payee is intended to be exclusive of any other remedy and each and every such
remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or
in equity or by statute or otherwise.

 

12.  Remedies
Not Waived. No course of dealing between the Company and the Payee or any delay on the part of the Payee in exercising any
rights hereunder shall operate as a waiver of any right of the Payee.

 

13.  Assignments.
The Payee may assign, participate, transfer or otherwise convey this Note and any of its rights or obligations hereunder or interest
herein to any affiliate of Payee and to any other Person that the Company consents to (such consent not to be unreasonably withheld
or delayed), and this Note shall inure to the benefit of the Payee’s successors and assigns. The Company shall not assign
or delegate this Note or any of its liabilities or obligations hereunder.

 

14.  Headings.
The headings of the sections and paragraphs of this Note are inserted for convenience only and do not constitute a part of this
Note.

 

15.  Severability.
If any provision of this Note is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of
this Note will remain in full force and effect. Any provision of this Note held invalid or unenforceable only in part or degree
will remain in full force and effect to the extent not held invalid or unenforceable.

 

16.  Cancellation.
After all principal, premiums (if any) and accrued interest at any time owed on this Note have been paid in full, or this Note
has been converted this Note will be surrendered to the Company for cancellation and will not be reissued.

 

17.  Maximum
Legal Rate. If at any time an interest rate applicable hereunder exceeds the maximum rate permitted by law, such rate shall
be reduced to the maximum rate so permitted by law.

 

18.  Place
of Payment and Notices. Unless otherwise stated herein, payments of principal and interest are to be delivered to the Noteholder
of this Note at the address provided by the Payee in the Note Securities Purchase Agreement, or at such other address as such Noteholder
has specified by prior written notice to the Company. No notice shall be deemed to have been delivered until the first Business
Day following actual receipt thereof at the foregoing address.

 

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19.  Waiver
of Jury Trial. The Payee and the Company each hereby waives any right it may have to a trial by jury in respect of any litigation
directly or indirectly arising out of, under or in connection with this Note and/or the transactions contemplated hereunder.

 

20.  Submission
to Jurisdiction.

 

(i)  Any
legal action or proceeding with respect to this Note may be brought in the courts of the State of New Jersey or of the United States
of America sitting in New Jersey, and, by execution and delivery of this Note, the Company hereby accepts for itself and in respect
of its property, generally and unconditionally, the jurisdiction of the aforesaid courts.

 

(ii)  The
Company hereby irrevocably waives, in connection with any such action or proceeding, any objection, including, without limitation,
any objection to the laying of venue or based on the grounds of forum non conveniens, which they may now or hereafter have to the
bringing of any such action or proceeding in such respective jurisdictions.

 

(iii)  Nothing
herein shall affect the right of the Payee to serve process in any other manner permitted by law or to commence legal proceedings
or otherwise proceed against the Company in any other jurisdiction.

 

21.  GOVERNING
LAW. ALL ISSUES AND QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS NOTE SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW JERSEY, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT
OF LAW RULES OR PROVISIONS (WHETHER OF THE STATE OF NEW JERSEY OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE
LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW JERSEY.

 

 

**********************************************

 

 

IN WITNESS
WHEREOF, the Company has executed and delivered this Convertible Promissory Note on the date first written above.

 

	 	COMPANY:
	 	 
	 	JERRICK MEDIA HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	 	Jeremy Frommer
	 	 	Chief Executive Officer

 

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EXHIBIT A 

 

NOTICE OF CONVERSION

 

(To Be Signed Only Upon Conversion of the
Convertible Promissory Note)

 

The undersigned,
the holder of the foregoing Convertible Promissory Note, hereby surrenders such Note for conversion into shares of Common Stock
of Jerrick Media Holdings, Inc. to the extent of $ _________unpaid principal amount and any accrued and unpaid interest
of such Note, and requests that the certificates for such shares be issued in the name of, and delivered to:

 

	 	Name:	 
	 	 	 
	 	Address	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

Dated: __/__/ 20__

 

	 	 
	 	(Signature must conform in all respects to name of holder as specified on the face of the Debenture)
	 	 
	 	 
	 	(Address)Exhibit
10.1

 

ASSET
PURCHASE AGREEMENT

 

This
Asset Purchase Agreement (this “Agreement”) dated as of September 1, 2020 is entered into between Eliot’s
Adult Nut Butter, LLC, an Oregon limited liability company (“Seller”) Michael Kanter, Tyler Kirk, Resolut Partners
LLC, and Burst Management LLC (the “Holders”) and Verus International, Inc., a Delaware corporation (“Buyer”).
Capitalized terms used in this Agreement have the meanings given to such terms herein, as such definitions are identified by the
cross-references set forth in Exhibit A attached hereto.

 

RECITALS

 

WHEREAS,
Seller is engaged in the business of manufacturing and selling flavored nut butters (the “Business”); and

 

WHEREAS,
Seller wishes to sell and assign to Buyer, and Buyer wishes to purchase and assume from Seller, substantially all the assets,
and certain specified liabilities, of the Business, subject to the terms and conditions set forth herein;

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows.

 

ARTICLE
I

Purchase
and Sale

 

Section
1.01 Purchase and Sale of Assets. Subject to the terms and conditions
set forth herein, at the Closing, Seller shall sell, convey, assign, transfer, and deliver to Buyer, and Buyer shall purchase
from Seller, all of Seller’s right, title, and interest in, to, and under all of the tangible and intangible assets, properties,
and rights of every kind and nature and wherever located (other than the Excluded Assets), which relate to, or are used or held
for use in connection with, the Business (collectively, the “Purchased Assets”), including the following:

 

(a)
all cash and cash equivalents;

 

(b)
all accounts receivable held by Seller (“Accounts Receivable”);

 

(c)
all inventory, finished goods, raw materials, work in progress, packaging, supplies, parts, and other inventories (“Inventory”);

 

(d)
all Contracts (the “Assigned Contracts”) set forth on Section 1.01(d) of the disclosure schedules attached
hereto (the “Disclosure Schedules”). The term “Contracts” means all contracts, leases, licenses,
instruments, notes, commitments, undertakings, indentures, joint ventures, and all other agreements, commitments, and legally
binding arrangements, whether written or oral;

 

(e)
all furniture, fixtures, equipment, machinery, tools, vehicles, office equipment, supplies, computers, telephones, and other tangible
personal property (the “Tangible Personal Property”);

 

    	 	 	 

     

    

 

(f)
all prepaid expenses, credits, advance payments, claims, security, refunds, rights of recovery, rights of set-off, rights of recoupment,
deposits, charges, sums, and fees (including any such item relating to the payment of Taxes);

 

(g)
all of Seller’s rights under warranties, indemnities, and all similar rights against third parties to the extent related
to any Purchased Assets;

 

(h)
all insurance benefits, including rights and proceeds, arising from or relating to the Business, the Purchased Assets, or the
Assumed Liabilities;

 

(i)
originals or, where not available, copies, of all books and records, including books of account, ledgers, and general, financial,
and accounting records, machinery and equipment maintenance files, customer lists, customer purchasing histories, price lists,
distribution lists, supplier lists, production data, quality control records and procedures, customer complaints and inquiry files,
research and development files, records, and data (including all correspondence with any federal, state, local, or foreign government
or political subdivision thereof, or any agency or instrumentality of such government or political subdivision, or any arbitrator,
court, or tribunal of competent jurisdiction (collectively, “Governmental Authority”)), sales material and
records, strategic plans and marketing, and promotional surveys, material, and research (“Books and Records”);
and

 

(j)
all goodwill and the going concern value of the Purchased Assets and the Business.

 

Section
1.02 Excluded Assets. Notwithstanding the foregoing, the Purchased
Assets shall not include the assets, properties, and rights specifically set forth on Section 1.02 of the Disclosure Schedules
(collectively, the “Excluded Assets”).

 

Section
1.03 Assumed Liabilities.

 

(a)
Subject to the terms and conditions set forth herein, Buyer shall assume and agree to pay, perform, and discharge only the following
Liabilities of Seller (collectively, the “Assumed Liabilities”), and no other Liabilities:

 

(i)
all trade accounts payable of Seller to third parties in connection with the Business that remain unpaid and are not delinquent
as of the Closing Date;

 

(ii)
all Liabilities in respect of the Assigned Contracts but only to the extent that such Liabilities thereunder are required to be
performed after the Closing Date, were incurred in the ordinary course of business, and do not relate to any failure to perform,
improper performance, warranty, or other breach, default, or violation by Seller on or prior to the Closing; and

 

(iii)
those Liabilities of Seller set forth on Section 1.03(a)(iii) of the Disclosure Schedules.

 

For
purposes of this Agreement, “Liabilities” means liabilities, obligations, or commitments of any nature whatsoever,
whether asserted or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured, or otherwise.

 

    	 	 	 

     

    

 

(b)
Notwithstanding any provision in this Agreement to the contrary, Buyer shall not assume and shall not be responsible to pay,
perform, or discharge any Liabilities of Seller or any of its Affiliates of any kind or nature whatsoever other than the Assumed
Liabilities (the “Excluded Liabilities”). For purposes of this Agreement: (i) “Affiliate”
of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by,
or is under common control with, such Person; and (ii) the term “control” (including the terms “controlled
by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or
cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract,
or otherwise.

 

Section
1.04 Purchase Price. The aggregate purchase price for the Purchased
Assets shall be $400,000 (the “Purchase Price”), plus the assumption of the Assumed Liabilities (if any). The
Purchase Price shall be paid by wire transfer of immediately available funds to an account designated in writing by Seller to
Buyer (which account will be designated no later than two (2) business days prior to the Closing Date), as follows:

 

(a)
$25,000 by wire transfer within six (6) months of the Closing Date

 

(b)
$25,000 by wire transfer within twelve (12) months of the Closing Date

 

(c)
Issue to Michael Kanter, Tyler Kirk, Resolut Partners LLC, and Burst Management LLC (the “Members”) Common
Stock of Buyer having a value of $60,000 based on the closing market price on the Closing Date; provided that such stock will
vest monthly over a 1 year period and shall be distributed to each Member pro rata in accordance with each Member’s respective
ownership interest in Seller as set forth on Exhibit B hereto. Notwithstanding the foregoing, Michael Kanter will cease
vesting any of such stock that he is entitled to if he breaches or otherwise violates his Employment Agreement with Parent.

 

(d)
Earn out payments (up to a maximum of $290,000) to be paid quarterly within sixty (60) days of the end of each complete quarter
after the Closing Date at a rate equal to the greater of (i) $1.26 per case sold or (ii) five percent (5%) of the per case wholesale
price; provided that each of the following conditions are also met.

 

(i)
During any such quarter, the total (blended) gross profit margin of the Business must equal or exceed 40%; and

 

(ii)
During any such quarter, the Business becomes and remains EBITDA Positive (defined below) after taking into account any such earn
out payments. The Members may elect to accept a lower earn out payment if the Business fails to be EBITDA Positive, in which case
the EBITDA Positive formula will then be re-calculated. “EBITDA Positive” means that the earnings before interest,
taxes, depreciation and amortization, during any such quarter exceeds Expenses for such quarter. “Expenses” mean costs
actually paid or accrued in accordance with U.S. GAAP. Buyer shall use all reasonable efforts to cause the Business to become
and remain EBITDA Positive, and shall not take any action, or cause or permit to be done any action with the purpose, in part
or whole, of avoiding or reducing earn out payments under this Section 1.04(d).

 

    	 	 	 

     

    

 

Section
1.05 Allocation of Purchase Price. The Purchase Price and the
Assumed Liabilities shall be allocated among the Purchased Assets for all purposes (including Tax and financial accounting) as
shown on the allocation schedule set forth on Section 1.05 of the Disclosure Schedules (the “Allocation Schedule”).
The Allocation Schedule shall be prepared in accordance with Section 1060 of the Internal Revenue Code of 1986, as amended. Buyer
and Seller shall file all returns, declarations, reports, information returns and statements, and other documents relating to
Taxes (including amended returns and claims for refund) (“Tax Returns”) in a manner consistent with the Allocation
Schedule.

 

Section
1.06 Withholding Tax. Buyer shall be entitled to deduct and withhold
from the Purchase Price all Taxes that Buyer may be required to deduct and withhold under any provision of Tax Law. All such withheld
amounts shall be treated as delivered to Seller hereunder.

 

Section
1.07 Third-Party Consents. To the extent that Seller’s rights
under any Purchased Asset may not be assigned to Buyer without the consent of another Person which has not been obtained, this
Agreement shall not constitute an agreement to assign the same if an attempted assignment would constitute a breach thereof or
be unlawful, and Seller, at its expense, shall use its reasonable best efforts to obtain any such required consent(s) as promptly
as possible. If any such consent shall not be obtained or if any attempted assignment would be ineffective or would impair Buyer’s
rights under the Purchased Asset in question so that Buyer would not in effect acquire the benefit of all such rights, Seller,
to the maximum extent permitted by Law and the Purchased Asset, shall act after the Closing as Buyer’s agent in order to
obtain for it the benefits thereunder and shall cooperate, to the maximum extent permitted by Law and the Purchased Asset, with
Buyer in any other reasonable arrangement designed to provide such benefits to Buyer.

 

ARTICLE
II

Closing

 

Section
2.01 Closing. Subject to the terms and conditions of this Agreement,
the consummation of the transactions contemplated by this Agreement (the “Closing”) shall take place at the
offices of Buyer at 11 a.m. Eastern time, simultaneously with the execution of this Agreement, or at such other time or place
or in such other manner as Seller and Buyer may mutually agree upon in writing. The date on which the Closing is to occur is herein
referred to as the “Closing Date.”

 

Section
2.02 Closing Deliverables.

 

(a)
At the Closing, Seller shall deliver to Buyer the following:

 

(i)
a bill of sale in form and substance satisfactory to Buyer (the “Bill of Sale”) and duly executed by Seller,
transferring the Tangible Personal Property included in the Purchased Assets to Buyer;

 

    	 	 	 

     

    

 

(ii)
an assignment and assumption agreement in form and substance satisfactory to Buyer (the “Assignment and Assumption Agreement”)
and duly executed by Seller, effecting the assignment to and assumption by Buyer of the Purchased Assets and the Assumed Liabilities;

 

(iii)
tax clearance certificates from the taxing authorities in the jurisdictions that impose Taxes on Seller or where Seller has a
duty to file Tax Returns in connection with the transactions contemplated by this Agreement and evidence of the payment in full
or other satisfaction of any Taxes owed by Seller in those jurisdictions;

 

(iv)
a certificate of the Secretary (or equivalent officer) of Seller certifying as to (A) the resolutions of the board of directors
and the shareholders of Seller, which authorize the execution, delivery, and performance of this Agreement, the Bill of Sale,
the Assignment and Assumption Agreement, the Employment Agreement, and the other agreements, instruments, and documents required
to be delivered in connection with this Agreement or at the Closing (collectively, the “Transaction Documents”)
and the consummation of the transactions contemplated hereby and thereby, and (B) the names and signatures of the officers of
Seller authorized to sign this Agreement and the other Transaction Documents;

 

(v)
such other customary instruments of transfer or assumption, filings, or documents, in form and substance reasonably satisfactory
to Buyer, as may be required to give effect to the transactions contemplated by this Agreement; and

 

(vi)
the employment agreement attached hereto as Exhibit C (“Employment Agreement”) duly executed by Michael
Kanter.

 

(b)
At the Closing, Buyer shall deliver to Seller the following:

 

(i)
the Purchase Price (less any amounts which may be withheld for outstanding Tax Liabilities);

 

(ii)
the Assignment and Assumption Agreement duly executed by Buyer;

 

(iii)
the Employment Agreement duly executed by Buyer; and

 

(iv)
a certificate of the Secretary (or equivalent officer) of Buyer certifying as to (A) the resolutions of the board of directors
of Buyer, which authorize the execution, delivery, and performance of this Agreement and the Transaction Documents and the consummation
of the transactions contemplated hereby and thereby, and (B) the names and signatures of the officers of Buyer authorized to sign
this Agreement and the other Transaction Documents.

 

    	 	 	 

     

    

 

ARTICLE
III

Representations
and warranties of seller AND HOLDERS

 

Seller
and Holders represents and warrants to Buyer that the statements contained in this ARTICLE III are true and correct as of the
date hereof.

 

Section
3.01 Organization and Authority of Seller. Seller is a limited
liability company duly organized, validly existing, and in good standing under the Laws of the State of Oregon. Seller has full
corporate power and authority to enter into this Agreement and the other Transaction Documents to which Seller is a party, to
carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby and thereby. The execution
and delivery by Seller of this Agreement and any other Transaction Document to which Seller or a Holder is a party, the performance
by Seller of its obligations hereunder and thereunder, and the consummation by Seller of the transactions contemplated hereby
and thereby have been duly authorized by all requisite corporate, board, and shareholder action on the part of Seller. This Agreement
and the Transaction Documents constitute legal, valid, and binding obligations of Seller and Holders enforceable against Seller
and Holders in accordance with their respective terms.

 

Section
3.02 No Conflicts or Consents. The execution, delivery, and performance
by Seller and Holders of this Agreement and the other Transaction Documents to which it is a party, and the consummation of the
transactions contemplated hereby and thereby, do not and will not: (a) violate or conflict with any provision of the certificate
of incorporation, bylaws, or other governing documents of Seller; (b) violate or conflict with any provision of any statute, law,
ordinance, regulation, rule, code, constitution, treaty, common law, other requirement, or rule of law of any Governmental Authority
(collectively, “Law”) or any order, writ, judgment, injunction, decree, stipulation, determination, penalty,
or award entered by or with any Governmental Authority (“Governmental Order”) applicable to Seller, Holders,
the Business, or the Purchased Assets; (c) require the consent, notice, declaration, or filing with or other action by any individual,
corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust,
association, or other entity (“Person”) or require any permit, license, or Governmental Order; (d) violate
or conflict with, result in the acceleration of, or create in any party the right to accelerate, terminate, modify, or cancel
any Contract to which Seller is a party or by which Seller or the Business is bound or to which any of the Purchased Assets are
subject (including any Assigned Contract); or (e) result in the creation or imposition of any charge, claim, pledge, equitable
interest, lien, security interest, restriction of any kind, or other encumbrance (“Encumbrance”) on the Purchased
Assets.

 

Section
3.03 Financial Statements. Complete copies of the compiled, non-disclosure
financial statements consisting of the balance sheet of the Business at December 31 in each of the years 2017, 2018, and 2019,
in addition to the most recent year-to-date period of year 2020 that is available immediately prior to execution of this Agreement,
and the related statements of income and retained earnings, shareholders’ equity, and cash flow for the years and year-to-date
period then ended (the “Financial Statements”) are included in the Disclosure Schedules. The Financial Statements
fairly present the financial condition of the Business as of the respective dates they were prepared and the results of the operations
of the Business for the periods indicated, and were prepared by certified public accountants, in accordance with standard accounting
principles applied on a consistent basis. In the event such standard accounting principles differ from U.S. generally accepted
accounting principles, such differences are considered not significant to the presentation of the reviewed financial statements.
The balance sheet of the Business as of December 31, 2019 is referred to herein as the “Balance Sheet” and the date
thereof as the “Balance Sheet Date.”

 

    	 	 	 

     

    

 

Section
3.04 Undisclosed Liabilities. Seller has no Liabilities with respect
to the Business, except: (a) those which are adequately reflected or reserved against in the Balance Sheet as of the Balance Sheet
Date; and (b) those which have been incurred in the ordinary course of business consistent with past practice since the Balance
Sheet Date and which are not, individually or in the aggregate, material in amount.

 

Section
3.05 Absence of Certain Changes, Events, and Conditions. Since
the Balance Sheet Date, and other than in the ordinary course of business consistent with past practice, there has not been any
change, event, condition, or development that is, or could reasonably be expected to be, individually or in the aggregate, materially
adverse to: (a) the business, results of operations, condition (financial or otherwise), or assets of the Business; or (b) the
value of the Purchased Assets.

 

Section
3.06 Assigned Contracts. Each Assigned Contract is valid and binding
on Seller in accordance with its terms and is in full force and effect. Neither Seller nor, to Seller’s knowledge, any other
party thereto is in breach of or default under (or is alleged to be in breach of or default under), or has provided or received
any notice of any intention to terminate, any Assigned Contract. No event or circumstance has occurred that would constitute an
event of default under any Assigned Contract or result in a termination thereof. Complete and correct copies of each Assigned
Contract (including all modifications, amendments, and supplements thereto and waivers thereunder) have been made available to
Buyer. There are no material disputes pending or threatened under any Assigned Contract.

 

Section
3.07 Title to Purchased Assets. Seller has good and valid title
to all of the Purchased Assets, free and clear of Encumbrances.

 

Section
3.08 Condition and Sufficiency of Assets. Each item of Tangible
Personal Property is structurally sound, is in good operating condition and repair, and is adequate for the uses to which it is
being put, and no item of Tangible Personal Property is in need of maintenance or repairs except for ordinary, routine maintenance
and repairs that are not material in nature or cost. The Purchased Assets are sufficient for the continued conduct of the Business
after the Closing in substantially the same manner as conducted prior to the Closing and constitute all of the rights, property,
and assets necessary to conduct the Business as currently conducted. None of the Excluded Assets are material to the Business.

 

Section
3.09 Inventory. All Inventory, whether or not reflected in the
Balance Sheet, consists of a quality and quantity usable and salable in the ordinary course of business consistent with past practice,
except for obsolete, damaged, defective, or slow-moving items that have been written off or written down to fair market value
or for which adequate reserves have been established.

 

Section
3.10 Accounts Receivable. The Accounts Receivable: (a) have arisen
from bona fide transactions entered into by Seller involving the sale of goods or the rendering of services in the ordinary course
of business consistent with past practice; (b) constitute only valid, undisputed claims of Seller not subject to claims of set-off
or other defenses or counterclaims other than normal cash discounts accrued in the ordinary course of business consistent with
past practice; and (c) are collectible in full within ninety (90) days after billing.

 

    	 	 	 

     

    

 

Section
3.11 Material Customers and Suppliers.

 

(a)
Section 3.11(a) of the Disclosure Schedules sets forth with respect to the Business: (i) each customer who has paid aggregate
consideration to Seller for goods or services rendered in an amount greater than or equal to $1,000 for each of the two (2) most
recent fiscal years (collectively, the “Material Customers”); and (ii) the amount of consideration paid by
each Material Customer during such periods. Seller has not received any notice, and has no reason to believe, that any of the
Material Customers has ceased, or intends to cease after the Closing, to use the goods or services of the Business or to otherwise
terminate or materially reduce its relationship with the Business.

 

(b)
Section 3.11(b) of the Disclosure Schedules sets forth with respect to the Business: (i) each supplier to whom Seller has paid
aggregate consideration for goods or services rendered in an amount greater than or equal to $1,000 for each of the two (2) most
recent fiscal years (collectively, the “Material Suppliers”); and (ii) the amount of purchases from each Material
Supplier during such periods. Seller has not received any notice, and has no reason to believe, that any of the Material Suppliers
has ceased, or intends to cease, to supply goods or services to the Business or to otherwise terminate or materially reduce its
relationship with the Business.

 

Section
3.12 Legal Proceedings; Governmental Orders.

 

(a)
There are no claims, actions, causes of action, demands, lawsuits, arbitrations, inquiries, audits, notices of violation, proceedings,
litigation, citations, summons, subpoenas, or investigations of any nature, whether at law or in equity (collectively, “Actions”)
pending or, to Seller’s knowledge, threatened against or by Seller: (a) relating to or affecting the Business, the Purchased
Assets, or the Assumed Liabilities; or (b) that challenge or seek to prevent, enjoin, or otherwise delay the transactions contemplated
by this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

(b)
There are no outstanding Governmental Orders against, relating to, or affecting the Business or the Purchased Assets.

 

Section
3.13 Compliance with Laws. Seller is in compliance in all material
respects with all Laws applicable to the conduct of the Business as currently conducted or the ownership and use of the Purchased
Assets.

 

Section
3.14 Taxes. To the knowledge of Seller, all taxes due and owing
by Seller have been, or will be, timely paid. No extensions or waivers of statutes of limitations have been given or requested
with respect to any Taxes of Seller. All Tax Returns required to be filed by Seller for any tax periods prior to Closing have
been, or will be, timely filed. Such Tax Returns are, or will be, true, complete, and correct in all respects. The term “Taxes”
means all federal, state, local, foreign, and other income, gross receipts, sales, use, production, ad valorem, transfer, documentary,
franchise, registration, profits, license, withholding, payroll, employment, unemployment, excise, severance, stamp, occupation,
premium, property (real or personal), customs, duties, or other taxes, fees, assessments, or charges of any kind whatsoever, together
with any interest, additions, or penalties with respect thereto.

 

    	 	 	 

     

    

 

Section
3.15 Brokers. No broker, finder, or investment banker is entitled
to any brokerage, finder’s, or other fee or commission in connection with the transactions contemplated by this Agreement
or any other Transaction Document based upon arrangements made by or on behalf of Seller.

 

Section
3.16 Full Disclosure. No representation or warranty by Seller
in this Agreement and no statement contained in the Disclosure Schedules to this Agreement or any certificate or other document
furnished or to be furnished to Buyer pursuant to this Agreement contains any untrue statement of a material fact, or omits to
state a material fact necessary to make the statements contained therein, in light of the circumstances in which they are made,
not misleading.

 

ARTICLE
IV

Representations
and warranties of buyer

 

Buyer
represents and warrants to Seller that the statements contained in this ARTICLE IV are true and correct as of the date hereof.

 

Section
4.01 Organization and Authority of Buyer. Buyer is a limited liability
company duly organized, validly existing, and in good standing under the Laws of the State of Delaware. Buyer has full corporate
power and authority to enter into this Agreement and the other Transaction Documents to which Buyer is a party, to carry out its
obligations hereunder and thereunder, and to consummate the transactions contemplated hereby and thereby. The execution and delivery
by Buyer of this Agreement and any other Transaction Document to which Buyer is a party, the performance by Buyer of its obligations
hereunder and thereunder, and the consummation by Buyer of the transactions contemplated hereby and thereby have been duly authorized
by all requisite corporate action on the part of Buyer. This Agreement and the Transaction Documents constitute legal, valid,
and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms.

 

Section
4.02 No Conflicts; Consents. The execution, delivery, and performance
by Buyer of this Agreement and the other Transaction Documents to which it is a party, and the consummation of the transactions
contemplated hereby and thereby, do not and will not: (a) violate or conflict with any provision of the certificate of incorporation,
bylaws, or other organizational documents of Buyer; (b) violate or conflict with any provision of any Law or Governmental Order
applicable to Buyer; or (c) require the consent, notice, declaration, or filing with or other action by any Person or require
any permit, license, or Governmental Order.

 

Section
4.03 Sufficiency of Funds. Buyer
has sufficient cash on hand or other sources of immediately available funds to enable it to make payment of the Purchase Price
at the time such payment is required and to consummate the transactions contemplated by this Agreement.

 

    	 	 	 

     

    

 

Section
4.04 Brokers. No broker, finder, or investment banker is entitled
to any brokerage, finder’s, or other fee or commission in connection with the transactions contemplated by this Agreement
or any other Transaction Document based upon arrangements made by or on behalf of Buyer.

 

Section
4.05 Legal Proceedings. There are no Actions pending or, to Buyer’s
knowledge, threatened against or by Buyer that challenge or seek to prevent, enjoin, or otherwise delay the transactions contemplated
by this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

Section
4.06 Representation or Warranty. Buyer has conducted its own independent
investigation, review and analysis of the Business and Purchased Assets. Buyer acknowledges and agrees that Buyer has relied solely
upon its own investigation and the representations and warranties of Seller in this Agreement. Neither Seller nor any other Person
has made any representation or warranty as to Seller, the Business, the Purchased Assets or this Agreement, except as expressly
set forth in Article III of this Agreement (including the related portions of the Disclosure Schedules).

 

ARTICLE
V

Covenants

 

Section
5.01 Confidentiality. From and after the Closing, Seller shall,
and shall cause its Affiliates to, hold, and shall use its reasonable best efforts to cause its or their respective directors,
officers, employees, consultants, counsel, accountants, and other agents (“Representatives”) to hold, in confidence
any and all information, whether written or oral, concerning the Business, except to the extent that Seller can show that such
information: (a) is generally available to and known by the public through no fault of Seller, any of its Affiliates, or their
respective Representatives; or (b) is lawfully acquired by Seller, any of its Affiliates, or their respective Representatives
from and after the Closing from sources which are not prohibited from disclosing such information by a legal, contractual, or
fiduciary obligation. If Seller or any of its Affiliates or their respective Representatives are compelled to disclose any information
by Governmental Order or Law, Seller shall promptly notify Buyer in writing and shall disclose only that portion of such information
which is legally required to be disclosed, provided that Seller shall use reasonable best efforts to obtain as promptly
as possible an appropriate protective order or other reasonable assurance that confidential treatment will be accorded such information.

 

Section
5.02 Costs of Operation. From and after Closing, Buyer shall pay the monthly operating expenses
relating to the Purchased Assets, the Assumed Liabilities, and funding inventory, marketing and new growth opportunities (collectively,
the “Operating Expenses”). For a period of one year from the Closing, Operating Expenses shall also include all payments,
which amounts should not be greater than previous monthly amounts paid by the Seller, due under that certain HELOC issued by [___],
and identified as Account Number [___]. Seller has represented to Buyer that the current monthly Operating Expenses
exceed total Gross Profit (“Excess Burn”) by approximately $18,000 per month. Therefore, for a period of six months
from the Closing, in the event that the average monthly Excess Burn exceeds $18,000, then any payment of the Purchase Price (including
any earn out payments) will be reduced by the aggregate amount that the total Excess Burn incurred prior to such payment exceeds
$18,000 per month, meaning a total of $108,000. For the avoidance of doubt, such Excess Burn will be determined by the current
state of the business at Closing and any increases to expenses to increase revenues will be considered growth investments and
excluded from the Excess Burn calculation. “Gross Profit” shall mean
all of the revenues of the Business less (i) the cost of goods sold, (ii) the costs directly associated with returned products,
(iii) normal and customary discounts actually paid or accrued consistent with past Business practices, and (iv) normal and customary
merchant fees actually paid or accrued consistent with past Business practices.

 

    	 	 	 

     

    

 

Section
5.03 Michael Kanter Employment Agreement. At Closing, Buyer and Michael Kanter shall execute
an Employment Agreement. The Employment Agreement shall include a minimum base compensation of $60,000 per year and bonuses. 

 

Section
5.04 Non-Competition; Non-Solicitation.

 

(a)
Seller acknowledges the competitive nature of the Business and accordingly agrees, in connection with the sale of the Purchased
Assets, including the goodwill of the Business, which Buyer considers to be a valuable asset, and in exchange for good and valuable
consideration, that for a period of eighteen (18) months commencing on the Closing Date (the “Restricted Period”),
Seller shall not, and shall not permit any of its Affiliates to, directly or indirectly: (i) engage in or assist others in engaging
in the flavored nut butter business (the “Restricted Business”) in the United States (the “Territory”);
(ii) have an interest in any Person that engages directly or indirectly in the Restricted Business in the Territory in any capacity,
including as a partner, shareholder, director, member, manager, employee, principal, agent, trustee, or consultant; or (iii) cause,
induce, or encourage any material actual or prospective client, customer, supplier, or licensor of the Business (including any
existing or former client or customer of Seller and any Person that becomes a client or customer of the Business after the Closing),
or any other Person who has a material business relationship with the Business, to terminate or modify any such actual or prospective
relationship. Notwithstanding the foregoing, Seller may own, directly or indirectly, solely as an investment, securities of any
Person traded on any national securities exchange if Seller is not a controlling Person of, or a member of a group which controls,
such Person and does not, directly or indirectly, own one percent (1%) or more of any class of securities of such Person.

 

(b)
During the Restricted Period, Seller shall not, and shall not permit any of its Affiliates to, directly or indirectly, hire or
solicit any person who is or was employed in the Business during the Restricted Period, or encourage any such employee to leave
such employment or hire any such employee who has left such employment, except pursuant to a general solicitation which is not
directed specifically to any such employees; provided that nothing in this Section 5.02(b) shall prevent Seller or any
of its Affiliates from hiring any employee whose employment has been terminated by Buyer.

 

(c)
Seller acknowledges that a breach or threatened breach of this Section 5.04 would give rise to irreparable harm to Buyer,
for which monetary damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach
by Seller of any such obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to
it in respect of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, specific
performance, and any other relief that may be available from a court of competent jurisdiction (without any requirement to post
bond or other security or to prove actual damages or that monetary damages will not afford an adequate remedy).

 

    	 	 	 

     

    

 

(d)
Seller acknowledges that the restrictions contained in this Section 5.04 are reasonable and necessary to protect the legitimate
interests of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions
contemplated by this Agreement. In the event that any covenant contained in this Section 5.04 should ever be adjudicated
to exceed the time, geographic, product or service, or other limitations permitted by applicable Law in any jurisdiction or any
Governmental Order, then any court is expressly empowered to reform such covenant in such jurisdiction to the maximum time, geographic,
product or service, or other limitations permitted by applicable Law or such Governmental Order. The covenants contained in this
Section 5.04 and each provision hereof are severable and distinct covenants and provisions. The invalidity or unenforceability
of any such covenant or provision as written shall not invalidate or render unenforceable the remaining covenants or provisions
hereof, and any such invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenant
or provision in any other jurisdiction.

 

Section
5.05 Public Announcements. Unless otherwise required by applicable
Law, no party to this Agreement shall make any public announcements in respect of this Agreement or the transactions contemplated
hereby without the prior written consent of the other party (which consent shall not be unreasonably withheld or delayed), and
the parties shall cooperate as to the timing and contents of any such announcement.

 

Section
5.06 Bulk Sales Laws. The parties hereby waive compliance with
the provisions of any bulk sales, bulk transfer, or similar Laws of any jurisdiction that may otherwise be applicable with respect
to the sale of any or all of the Purchased Assets to Buyer. Any Liabilities arising out of the failure of Seller to comply with
the requirements and provisions of any bulk sales, bulk transfer, or similar Laws of any jurisdiction which would not otherwise
constitute Assumed Liabilities shall be treated as Excluded Liabilities.

 

Section
5.07 Receivables. From and after the Closing, if Seller or any
of its Affiliates receives or collects any funds relating to any Accounts Receivable or any other Purchased Asset, Seller or its
Affiliate shall remit such funds to Buyer within five (5) business days after its receipt thereof. From and after the Closing,
if Buyer or its Affiliate receives or collects any funds relating to any Excluded Asset, Buyer or its Affiliate shall remit any
such funds to Seller within five (5) business days after its receipt thereof.

 

Section
5.08 Transfer Taxes. All sales, use, registration, and other such
Taxes and fees (including any penalties and interest) incurred in connection with this Agreement and the other Transaction Documents,
if any, shall be borne and paid by Seller when due. Seller shall, at its own expense, timely file any Tax Return or other document
with respect to such Taxes or fees (and Buyer shall cooperate with respect thereto as necessary).

 

    	 	 	 

     

    

 

Section
5.09 Further Assurances. Following the Closing, each of the parties
hereto shall, and shall cause their respective Affiliates to, execute and deliver such additional documents, instruments, conveyances,
and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect
to the transactions contemplated by this Agreement and the other Transaction Documents.

 

ARTICLE
VI

Indemnification

 

Section
6.01 Survival. All representations, warranties, covenants, and
agreements contained herein and all related rights to indemnification shall survive the Closing and shall remain in full force
until the date that is eighteen (18) months from the Closing except for the following representations, warranties, covenants and
agreements (“Fundamental Reps”) which shall remain in full forces until the date that is six (6) years from the Closing:

 

Section
3.01

Section
3.02

Section
3.07

Section
3.15.

 

Section
6.02 Indemnification by Seller. Subject to the other terms and
conditions of this ARTICLE VI, Seller shall indemnify and defend each of Buyer and its Affiliates and their respective Representatives
(collectively, the “Buyer Indemnitees”) against, and shall hold each of them harmless from and against, any
and all losses, damages, liabilities, deficiencies, Actions, judgments, interest, awards, penalties, fines, costs, or expenses
of whatever kind, including reasonable attorneys’ fees (collectively, “Losses”), incurred or sustained
by, or imposed upon, the Buyer Indemnitees based upon, arising out of, or with respect to:

 

(a)
any inaccuracy in or breach of any of the representations or warranties of Seller contained in this Agreement, any other Transaction
Document, or any schedule, certificate, or exhibit related thereto, as of the date such representation or warranty was made or
as if such representation or warranty was made on and as of the Closing Date (except for representations and warranties that expressly
relate to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified date);

 

(b)
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Seller pursuant to this Agreement,
any other Transaction Document, or any schedule, certificate, or exhibit related thereto;

 

(c)
any Excluded Asset or any Excluded Liability; or

 

(d)
any Third-Party Claim based upon, resulting from, or arising out of the business, operations, properties, assets, or obligations
of Seller or any of its Affiliates (other than the Purchased Assets or Assumed Liabilities) conducted, existing, or arising on
or prior to the Closing Date. For purposes of this Agreement, “Third-Party Claim” means notice of the assertion
or commencement of any Action made or brought by any Person who is not a party to this Agreement or an Affiliate of a party to
this Agreement or a Representative of the foregoing.

 

    	 	 	 

     

    

 

Section
6.03 Indemnification by Buyer. Subject to the other terms and
conditions of this ARTICLE VI, Buyer shall indemnify and defend each of Seller and its Affiliates and their respective Representatives
(collectively, the “Seller Indemnitees”) against, and shall hold each of them harmless from and against any
and all Losses incurred or sustained by, or imposed upon, the Seller Indemnitees based upon, arising out of, or with respect to:

 

(a)
any inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement, any other Transaction
Document, or any schedule, certificate, or exhibit related thereto, as of the date such representation or warranty was made or
as if such representation or warranty was made on and as of the Closing Date (except for representations and warranties that expressly
relate to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified date);

 

(b)
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Buyer pursuant to this Agreement, any
other Transaction Document, or any schedule, certificate, or exhibit related thereto; or

 

(c)
any Assumed Liability.

 

Section
6.04 Earn Out Payments. If, and to the extent that, any earn out payments are earned pursuant
to Section 1.04 (d) and any of the Buyer Indemnitees incur Losses under this Article 6, then Buyer will be entitled to offset
and reduce such earn out payments by the amount of Losses incurred.

 

Section
6.05 Certain Limitations.

 

(a)
The Indemnifying Party shall not be liable to the Indemnified Party for indemnification under Section 6.02(a) or 6.03(a), as the
case may be, until the aggregate amount of all Losses in respect of indemnification under Section 6.02(a) or 6.03(a) exceeds $500
(the “Deductible”),
in which event the Indemnifying party shall only be required to pay or be liable for Losses in excess of the Deductible. 

 

(b)
The aggregate amount of all Losses for which an Indemnifying Party shall be liable pursuant to Section 6.02 or 6.03, as the case
may be, shall not exceed the amount of the total Purchase Price.

 

Section
6.06 Indemnification Procedures. Whenever any claim shall arise
for indemnification hereunder, the party entitled to indemnification (the “Indemnified Party”) shall promptly
provide written notice of such claim to the other party (the “Indemnifying Party”). In connection with any
claim giving rise to indemnity hereunder resulting from or arising out of any Action by a Person who is not a party to this Agreement,
the Indemnifying Party, at its sole cost and expense and upon written notice to the Indemnified Party, may assume the defense
of any such Action with counsel reasonably satisfactory to the Indemnified Party. The Indemnified Party shall be entitled to participate
in the defense of any such Action, with its counsel and at its own cost and expense. If the Indemnifying Party does not assume
the defense of any such Action, the Indemnified Party may, but shall not be obligated to, defend against such Action in such manner
as it may deem appropriate, including settling such Action, after giving notice of it to the Indemnifying Party, on such terms
as the Indemnified Party may deem appropriate and no action taken by the Indemnified Party in accordance with such defense and
settlement shall relieve the Indemnifying Party of its indemnification obligations herein provided with respect to any damages
resulting therefrom. The Indemnifying Party shall not settle any Action without the Indemnified Party’s prior written consent
(which consent shall not be unreasonably withheld or delayed).

 

    	 	 	 

     

    

 

Section
6.07 Tax Treatment of Indemnification Payments. All
indemnification payments made under this Agreement shall be treated by the parties as an adjustment to the Purchase Price for
Tax purposes, unless otherwise required by Law.

 

Section
6.08 Cumulative Remedies. The
rights and remedies provided in this  ARTICLE
VI are cumulative and are in addition to and not in substitution for any other rights and remedies
available at law or in equity or otherwise.

 

ARTICLE
VII

Miscellaneous

 

Section
7.01 Expenses. All costs and expenses incurred in connection with
this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

 

Section
7.02 Notices. All notices, claims, demands, and other communications
hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of
receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on
the date sent by facsimile or email of a PDF document (with confirmation of transmission) if sent during normal business hours
of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after
the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent
to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given
in accordance with this Section 7.02):

 

	If
    to Seller:	[___]

	 	[___]

	 	Email:
    michael@eliotsnutbutters.com
	 	Attention:
    Founder
	 	 
	If
    to Buyer:	9841
    Washingtonian Blvd., Suite 390
	 	Gaithersburg,
    MD 20878
	 	Email:
    ab@verusfoods.com
	 	Attention:
    Chief Executive Officer

 

Section
7.03 Interpretation; Headings. This Agreement shall be construed
without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or
causing any instrument to be drafted. The headings in this Agreement are for reference only and shall not affect the interpretation
of this Agreement.

 

    	 	 	 

     

    

 

Section
7.04 Severability. If any term or provision of this Agreement
is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any
other term or provision of this Agreement.

 

Section
7.05 Entire Agreement. This Agreement and the other Transaction
Documents constitute the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained
herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect
to such subject matter. In the event of any inconsistency between the statements in the body of this Agreement and those in the
other Transaction Documents, the Exhibits, and the Disclosure Schedules (other than an exception expressly set forth as such in
the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section
7.06 Successors and Assigns; Assignment. This Agreement is binding
upon and inures to the benefit of the parties hereto and their respective successors and permitted assigns. Neither party may
assign any of its rights or obligations hereunder without the prior written consent of the other party, which consent shall not
be unreasonably withheld, conditioned, or delayed. Any purported assignment in violation of this Section shall be null and void.
No assignment shall relieve the assigning party of any of its obligations hereunder.

 

Section
7.07 Amendment and Modification; Waiver. This Agreement may only
be amended, modified, or supplemented by an agreement in writing signed by each party 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. No failure
to exercise, or delay in exercising, any right or remedy arising from this Agreement shall operate or be construed as a waiver
thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof
or the exercise of any other right or remedy.

 

Section
7.08 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

 

(a)
All matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the internal laws
of the State of Delaware without giving effect to the conflict of law provisions thereof to the extent such provisions would require
or permit the application of the laws of any jurisdiction other than the State of Delaware. Any legal suit, action, proceeding,
or dispute arising out of or relating to this Agreement, the other Transaction Documents, or the transactions contemplated hereby
or thereby may be instituted in the federal courts of the United States of America or the courts of the State of Delaware in each
case located in the city of Wilmington, Delaware, and each party irrevocably submits to the exclusive jurisdiction of such courts
in any such suit, action, proceeding, or dispute.

 

    	 	 	 

     

    

 

(b)
EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS
IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF
ACTION, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING ANY EXHIBITS AND SCHEDULES ATTACHED TO THIS AGREEMENT,
THE OTHER TRANSACTION DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT:
(I) NO REPRESENTATIVE OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT SEEK TO ENFORCE
THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION; (II) EACH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) EACH
PARTY MAKES THIS WAIVER KNOWINGLY AND VOLUNTARILY; AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section
7.09 Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed
copy of this Agreement delivered by facsimile, email, or other means of electronic transmission shall be deemed to have the same
legal effect as delivery of an original signed copy of this Agreement.

 

[Signatures
on following page]

 

    	 	 	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their
respective officers thereunto duly authorized.

 

	 	SELLER:
	 	 	 
	 	ELIOT’S
    ADULT NUT BUTTER
	 	 	 
	 	By:	 
	 	Name:	Michael
    Kanter
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	HOLDERS:
	 	 	 
	 	MICHAEL
    KANTER
	 	 	 
	 	By:	 
	 	 	
	 	TYLER
    KIRK
	 	 
	 	By:	 
	 	 	
	 	RESOLUT
    PARTNERS LLC
	 	 	 
	 	By:	 
	 	Name:	Nater
    Youngchild
	 	Title:	COO
	 	 	
	 	BURST
    MANAGEMENT LLC
	 	 	 
	 	By:	 
	 	Name:	Michael
    Robinson
	 	Title:	Owner
	 	 	 
	 	BUYER:
	 	VERUS
    INTERNATIONAL
	 	 	 
	 	By	 
	 	Name:	Anshu
    Bhatnagar
	 	Title:	Chief
    Executive Officer

 

    	 	 	 

     

    

 

EXHIBIT
A

 

DEFINITIONS
CROSS-REFERENCE TABLE

 

The
following terms have the meanings set forth in the location in this Agreement referenced below:

 

	Term	 	Section
	Accounts Receivable	 	Section 1.01(b)
	Actions	 	Section 3.12(a)
	Affiliate	 	Section 1.03(b)
	Agreement	 	Preamble
	Allocation Schedule	 	Section 1.05
	Assigned Contracts	 	Section 1.01(d)
	Assignment and Assumption Agreement	 	Section 2.02(a)(ii)
	Assumed Liabilities	 	Section 1.03(a)
	Balance Sheet	 	Section 3.03
	Balance Sheet Date	 	Section 3.03
	Bill of Sale	 	Section 2.02(a)(i)
	Books and Records	 	Section 1.01(i)
	Business	 	Recitals
	Buyer	 	Preamble
	Buyer Indemnitees	 	Section 6.02
	Closing	 	Section 2.01
	Closing Date	 	Section 2.01
	Contracts	 	Section 1.01(d)
	Control	 	Section 1.03(b)
	Deductible	 	Section 6.04
	Disclosure Schedules	 	Section 1.01(d)
	Encumbrance	 	Section 3.02
	Excluded Assets	 	Section 1.02
	Excluded Liabilities	 	Section 1.03(b)
	Financial Statements	 	Section 3.03
	Governmental Authority	 	Section 1.01(i)
	Governmental Order	 	Section 3.02
	Indemnified Party	 	Section 6.04
	Indemnifying Party	 	Section 6.04
	Inventory	 	Section 1.01(c)
	Law	 	Section 3.02
	Liabilities	 	Section 1.03(a)
	Losses	 	Section 6.02
	Material Customers	 	Section 3.11(a)
	Material Suppliers	 	Section 3.11(b)
	Members	 	Section 1.04
	Person	 	Section 3.02
	Purchased Assets	 	Section 1.01
	Purchase Price	 	Section 1.04
	Representatives	 	Section 5.01
	Restricted Business	 	Section 5.02(a)
	Restricted Period	 	Section 5.02(a)
	Seller	 	Preamble
	Seller Indemnitees	 	Section 6.03
	Tangible Personal Property	 	Section 1.01(e)
	Taxes	 	Section 3.14
	Tax Returns	 	Section 1.05
	Territory	 	Section 5.02(a)
	Third-Party Claim	 	Section 6.02(d)
	Transaction Documents	 	Section 2.02(a)(iv)

 

    	 	 	 

     

    

 

EXHIBIT
B

 

MICHAEL
KANTER EMPLOYMENT AGREEMENT

 

[See
Attached.]

 

    	 	 	 

     

    

 

DISCLOSURE
SCHEDULES 

 

	Schedule	 	Title
	 	 	 
	Schedule 1.01	 	Assigned Contracts
	 	 	 
	Schedule 1.02	 	Excluded Assets
	 	 	 
	Schedule 1.03	 	Assumed Liabilities
	 	 	 
	Schedule 1.05	 	Allocation of Purchase Price
	 	 	 
	Schedule 3.03	 	Financial Statements
	 	 	 
	Schedule 3.11(a) 	 	Material Customers
	 	 	 
	Schedule 3.11(b) 	 	Summary of Material Suppliers

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