Document:

EX-10.41

 Exhibit 10.41 

FORM OF LOAN AGREEMENT AND SECURED PROMISSORY NOTE 

MONTAUK HOLDINGS LIMITED, a South African company (the “Borrower”), hereby promises to pay to MONTAUK RENEWABLES,
INC., a Delaware corporation (the “Lender”), an amount equal to [_____________ U.S. DOLLARS ($__________)], together with accrued interest thereon, on the terms and conditions set forth herein. 

This Loan Agreement and Secured Promissory Note (this “Loan Agreement and Note”) is subject to the Borrower obtaining the
required prior exchange control approval from the Financial Surveillance Department of the South African Reserve Bank. 
 1. Payments of
Principal and Interest. For value received, the Borrower promises to pay to the order of the Lender the aggregate principal amount outstanding (the “Outstanding Loan Amount”), together with all accrued and unpaid interest
hereunder on or before December 31, 2022, pursuant to this Loan Agreement and Note. Interest on the Outstanding Loan Amount shall accrue at the rate of 0.4% per annum and shall be payable annually in arrears on each anniversary of the effective
date of this Loan Agreement and Note (each such date, an “Interest Payment Date”). The Borrower shall pay interest on this Loan Agreement and Note, at the election of the Borrower on each Interest Payment Date (a) by increasing
the outstanding principal amount of this Note (“PIK Interest”), (b) in cash to the Lender (“Cash Interest”) or (c) by any combination of (a) and (b), in an aggregate amount equal to the accrued and unpaid
interest on the Outstanding Loan Amount on such date. Any interest due on an Interest Payment Date that is not paid by the Borrower as Cash Interest on such Interest Payment Date shall be deemed paid as PIK Interest with no further action required
on the part of the Borrower. Following an increase in the Outstanding Loan Amount as a result of PIK Interest, this Loan Agreement and Note shall bear interest on such increased Outstanding Loan Amount from and after the date of such Interest
Payment Date. The amount of interest payable hereunder shall be calculated by reference to the actual number of days elapsed on the basis of a 365-day year. Any payment of interest due and payable on an
Interest Payment Date that is not a business day shall be due and payable on the first business day occurring after such Interest Payment Date and interest shall continue to accrue on the principal amount of this Loan Agreement and Note until, and
shall be due and payable on, such business day. 
 All cash payments of principal and interest hereunder shall be made in the lawful money
of the United States. Any and all payments made hereunder shall be first applied to any accrued and unpaid interest and the balance shall be applied to the Outstanding Loan Amount. The Outstanding Loan Amount may be prepaid at any time in whole or
in part without premium or penalty provided that all accrued and unpaid interest hereunder is paid in full. 
 2. Security. 

 

	 	(a)	 Pledge. As collateral security for the full payment and performance of all obligations of the Borrower
to the Lender under this Loan Agreement and Note, the Borrower hereby grants the Lender a first priority lien on and security interest in, all of its right, title and interest in, to and under all of the all of the issued and outstanding shares of
the Lender that are owned by the Borrower as of the date hereof (the “MRI Minority Shares”) and all dividends or other income from the MRI Minority Shares, collections thereon or distributions with respect thereto.

  
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	 	(b)	 Perfection of Pledge. The Borrower shall, from time to time, as may be required by the Lender with
respect to the MRI Minority Shares, promptly take all actions as may be requested by the Lender to perfect the security interest of the Lender in the MRI Minority Shares, so that control of such MRI Minority Shares is obtained and at all times held
by the Lender. All of the foregoing shall be at the sole cost and expense of the Borrower. The Borrower hereby irrevocably authorizes the Lender at any time and from time to time to file in any relevant jurisdiction any financing statements and
amendments thereto that contain the information required by the applicable law of each such jurisdiction for the filing of any financing statement or amendment relating to the MRI Minority Shares, without the signature of the Borrower where
permitted by law. The Borrower agrees to provide all information required by the Lender pursuant to this Section 2(b) promptly to the Lender upon request. 

 

	 	(c)	 Dividends and Voting Rights. The Lender agrees that unless an Event of Default shall have occurred and
be continuing, the Borrower may, to the extent the Borrower has such right as a holder of the MRI Minority Shares, vote and give consents, ratifications and waivers with respect thereto, except to the extent that, in the Lender’s reasonable
judgment, any such vote, consent, ratification or waiver could detract from the value thereof as collateral for this Loan Agreement and Note or which could be inconsistent with or result in any violation of any provision of this Loan Agreement and
Note. The Lender agrees that the Borrower may, unless an Event of Default shall have occurred and be continuing, receive and retain all dividends and other distributions with respect to the MRI Minority Shares. 

 

	 	(d)	 Transfers. The Lender acknowledges and agrees that, notwithstanding the pledge in favor of the Lender in
Section 2(a), the Borrower shall be entitled to sell or offer to sell, dispose of, convey, assign or otherwise transfer the MRI Minority Shares or any interest therein provided that 100% of the net proceeds from such
sale(s) are used to prepay the Outstanding Loan Amount, together with any accrued but unpaid interest thereon, pursuant to Section 3. 

 

	 	(e)	 Lender Appointed
Attorney-in-Fact. The Borrower hereby appoints the Lender as the Borrower’s
attorney-in-fact, with full authority in the place and stead of the Borrower and in the name of the Borrower or otherwise, from time to time during the continuance of an
Event of Default in the Lender’s discretion to take any action and to execute any instrument which the Lender may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation, to receive, endorse and
collect all instruments made payable to the Borrower representing any dividend, interest payment or other distribution in respect of the MRI Minority Shares or any part thereof and to give full discharge for the same (but the Lender shall not be
obligated to and shall have no liability to the Borrower or any third party for failure to do so or take action). Such appointment, being coupled with an interest, shall be irrevocable. The Borrower hereby ratifies all that said attorneys shall
lawfully do or cause to be done by virtue hereof. 

  
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	 	(f)	 Release of Pledge. The security interest granted hereunder shall terminate automatically (i) upon
payment in full of the obligations of the Borrower hereunder and (ii) with respect to any MRI Minority Shares that are disposed of in a sale transaction for cash (which cash will be used to repay Borrower’s obligations under this Loan
Agreement and Note pursuant to Section 3 hereof). 

  

	 	(g)	 SECURITY INTEREST ABSOLUTE. The Borrower hereby waives demand, notice, protest, notice of acceptance of
this Loan Agreement and Note, notice of loans made, credit extended, collateral received or delivered or other action taken in reliance hereon and all other demands and notices of any description. All rights of the Lender and liens and security
interests hereunder, and all obligations of the Borrower hereunder, shall be absolute and unconditional irrespective of: 

  

	 	i.	 any illegality or lack of validity or enforceability of any obligation or Borrower hereunder or any related
agreement or instrument; 

  

	 	ii.	 any change in the time, place or manner of payment of, or in any other term of, the obligations of Borrower
hereunder, or any rescission, waiver, amendment or other modification of this Loan Agreement and Note or any other agreement, including any increase in the obligations of Borrower hereunder resulting from any extension of additional credit or
otherwise; 

  

	 	iii.	 any taking, exchange, substitution, release, impairment or
non-perfection of any collateral, or any taking, release, impairment, amendment, waiver or other modification of any guaranty, for all or any of the obligations of the Borrower hereunder;

  

	 	iv.	 any manner of sale, disposition or application of proceeds of any collateral or any other collateral or other
assets to all or part of the obligations of the Borrower hereunder; 

  

	 	v.	 any default, failure or delay, willful or otherwise, in the performance of the obligations of the Borrower
hereunder; 

  

	 	vi.	 any defense, set-off or counterclaim (other than a defense of payment
or performance) that may at any time be available to, or be asserted by, the Borrower against the Lender; or 

  

	 	vii.	 any other circumstance (including, without limitation, any statute of limitations) or manner of administering
the loans granted hereunder or any existence of or reliance on any representation by the Lender that might vary the risk of the Borrower or otherwise operate as a defense available to, or a legal or equitable discharge of, the Borrower or any other
grantor, guarantor or surety. 

  
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 3. Mandatory Prepayments. No later than the fifth business day following the receipt
of any net proceeds in respect of any sale or disposition of MRI Minority Shares by the Borrower, the Borrower shall apply an amount equal to 100% of such net proceeds to prepay the Outstanding Loan Amount, together with any accrued but unpaid
interest thereon. 
 4. Representations and Warranties. The Borrower represents and warrants that: 

 

	 	(a)	 it is a corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation
and it has the power to own its assets and carry on the activities it conducts; 

  

	 	(b)	 the obligations expressed to be assumed by it in this Loan Agreement and Note are, subject to any general
principles of law limiting its obligations, legal, valid, binding and enforceable obligations; 

  

	 	(c)	 the entry into and performance by it of, and the transactions contemplated by, this Loan Agreement and Note do
not and will not conflict with: (i) any law or regulation applicable to it; (ii) its constitutional documents; or (iii) any agreement or instrument binding upon it or any of its assets; 

 

	 	(d)	 it has the power to enter into, perform and deliver, and has taken all necessary action to authorize its entry
into, performance and delivery of, this Loan Agreement and Note and the transactions contemplated hereby; 

  

	 	(e)	 all authorizations, consents, approvals, registrations and filings (“Authorization”) required
or desirable: (i) to enable it lawfully to enter into, exercise its rights and comply with its obligations in Loan Agreement and Note; and (ii) to make this Loan Agreement and Note admissible in evidence in its jurisdiction of
incorporation, have been obtained or effected and are in full force and effect; and 

  

	 	(f)	 the choice of Delaware law as the governing law of this Loan Agreement and Note will be recognized and enforced
in its jurisdiction of incorporation. Any judgment obtained in Delaware in relation to this Loan Agreement and Note will be recognized and enforced in its jurisdiction of incorporation. 

5. Covenants. The Borrower undertakes that: 
  

	 	(a)	 it shall promptly: obtain, comply with and do all that is necessary to maintain in full force and effect any
Authorization required under any law or regulation of its jurisdiction of incorporation to enable it to perform its obligations under this Loan Agreement and Note and to ensure its legality, validity, enforceability or admissibility in evidence in
its jurisdiction of incorporation; 

  

	 	(b)	 it shall comply in all respects with all laws to which it may be subject, if failure so to comply would
materially impair its ability to perform its obligations under this Loan Agreement and Note; 

  
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	 	(c)	 it shall not permit or suffer to exist any liens on the MRI Minority Shares (except under this Note and
Agreement); and 

  

	 	(d)	 it shall endeavor to dispose of the MRI Minority Shares in one or more sale transactions for cash (which cash
will be used to repay its obligations under this Loan Agreement and Note pursuant to Section 3 hereof). 

 6.
Events of Default. The occurrence of any of the following events shall constitute an event of default (“Event of Default”): 
  

	 	(a)	 the Borrower fails to pay the principal of or interest accrued with respect to this Loan Agreement and Note,
when and as the same shall become due and payable, and such non-payment continues for a period of more than five business days after receiving a written demand for such payment from the Lender;

  

	 	(b)	 the Borrower does not comply with any provision of this Loan Agreement and Note and such default continues for
a period of thirty days after notice requiring the same to be remedied shall have been given by the Lender to the Borrower; 

  

	 	(c)	 any representation or statement made or deemed to be made by the Borrower in this Loan Agreement and Note is or
proves to have been incorrect or misleading in any material respect when made or deemed to be made; 

  

	 	(d)	 the Borrower (i) is unable or admits inability to pay its debts as they become due; (ii) suspends
making payments on any of its debts; or (iii) by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness or a moratorium is declared in
respect of any indebtedness of the Borrower; or 

  

	 	(e)	 a corporate action is filed legally dissolving the Borrower, whether by way of a voluntary liquidation or
otherwise. 

 7. Remedies Upon Event of Default. Upon the occurrence of an Event of Default, so long as the same
may be continuing: 
  

	 	(a)	 Notwithstanding the interest rate specified in the second paragraph of this Loan Agreement and Note and other
than with respect to an Event of Default described in Sections 6(d) or 6(e), all amounts due and unpaid shall bear interest at a rate equal to the prevailing United States prime rate plus 3.0% per annum. 

 

	 	(b)	 The Borrower agrees to pay on demand all costs and expenses, if any (including fees and expenses of counsel),
in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of this Loan Agreement and Note, including, without limitation, reasonable counsel fees and expenses in connection with the enforcement of rights under
this provision. 

  

	 	(c)	 The Lender may by notice in writing to the Borrower (except in the case of Events of Default described in the
foregoing paragraphs (d) or (e), in which case 

  
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the following shall be automatic) declare all amounts owing hereunder to be, and they shall thereupon forthwith become, immediately due and payable without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrower. 

  

	 	(d)	 Borrower agrees to take any and all appropriate action and to execute any and all documents and instruments
that may be necessary or advisable to perfect and to maintain the perfection and priority of the Lender’s security interest in the MRI Minority Shares. 

  

	 	(e)	 The Lender may, without any other notice to or demand upon the Borrower, assert all rights and remedies of a
Lender under applicable law, including, without limitation, the right to take possession of, hold, collect, sell, lease, deliver, grant options to purchase or otherwise retain, liquidate or dispose of all or any portion of the MRI Minority Shares.
If notice prior to disposition of the MRI Minority Shares or any portion thereof is necessary under applicable law, written notice mailed to the Borrower 10 days prior to the date of such disposition shall constitute reasonable notice, but notice
given in any other reasonable manner shall be sufficient. So long as the sale of the MRI Minority Shares is made in a commercially reasonable manner, the Lender may sell such number of the MRI Minority Shares on such terms and to such purchaser(s)
as the Lender in its absolute discretion may choose, without assuming any credit risk and without any obligation to advertise or give notice of any kind other than that necessary under applicable law. Without precluding any other methods of sale,
the sale of the MRI Minority Shares or any portion thereof shall have been made in a commercially reasonable manner if conducted in conformity with reasonable commercial practices of creditors disposing of similar property. At any sale of the MRI
Minority Shares, if permitted by applicable law, the Lender may be the purchaser, licensee, assignee or recipient of the MRI Minority Shares and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for
all or any portion of the MRI Minority Shares sold, assigned or licensed at such sale, to use and apply any of the obligations of the Borrower hereunder as a credit on account of the purchase price of the MRI Minority Shares or any part thereof
payable at such sale. The Borrower hereby waives and releases to the fullest extent permitted by law any right or equity of redemption with respect to the MRI Minority Shares, whether before or after sale hereunder, and all rights, if any, of
marshalling the MRI Minority Shares and any other security for the obligations of the Borrower hereunder or otherwise. At any such sale, unless prohibited by applicable law, the Lender or any custodian may bid for and purchase all or any part of the
MRI Minority Shares so sold free from any such right or equity of redemption. Neither the Lender nor any custodian shall be liable for failure to collect or realize upon any or all of the MRI Minority Shares or for any delay in so doing, nor shall
it be under any obligation to take any action whatsoever with regard thereto. The Borrower agrees that it would not be commercially unreasonable for the Lender to dispose of all or any portion of the MRI Minority Shares by utilizing internet sites
that provide for the auction of assets of the type included in the MRI Minority Shares or that have the reasonable capability of doing so, or that match buyers and sellers of assets. The Lender shall not be obligated to clean-up or otherwise prepare the MRI Minority Shares for sale. 

  
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	 	(f)	 All rights of the Borrower to (i) exercise the voting and other consensual rights it would otherwise be
entitled to exercise pursuant to Section 2(c) and (ii) receive the dividends and other distributions which it would otherwise be entitled to receive and retain pursuant to Section 2(c), shall
immediately cease, and all such rights shall thereupon become vested in the Lender, which shall have the sole right to exercise such voting and other consensual rights and receive and hold such dividends and other distributions as collateral.

  

	 	(g)	 To the extent permitted by applicable law, the Borrower waives all claims, damages and demands it may acquire
against the Lender arising out of the exercise by it of any rights hereunder. 

 8. Costs and Expenses. The
Borrower agrees to reimburse the Lender for all reasonable costs and expenses (including reasonable attorney’s fees and expenses) incurred in connection with any legal action to enforce this Loan Agreement and Note or to protect the rights of
the Lender to receive payment hereunder. 
 9. Governing Law. This Loan Agreement and Note shall be governed by, and construed in
accordance with, the laws of Delaware without regard to conflicts of law principles. 
 10. Continuing Security Interest; Further
Actions. This Loan Agreement and Note shall create a continuing first priority lien and security interest in the MRI Minority Shares and shall (a) subject to Section 2(f) and Section 3,
remain in full force and effect until payment and performance in full of the obligations of the Borrower hereunder, (b) be binding upon the Borrower, its successors and assigns, and (c) inure to the benefit of the Lender and its
successors, transferees and assigns; provided that the Borrower may not assign or otherwise transfer any of its rights or obligations under this Loan Agreement and Note without the prior written consent of the Lender. 

11. Counterparts. This Loan Agreement and Note and any amendments, waivers, consents or supplements hereto may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Loan
Agreement and Note by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement. This Loan Agreement and Note constitute the entire contract among
the parties with respect to the subject matter hereof and supersede all previous agreements and understandings, oral or written, with respect thereto. 

12. Electronic Records and Signature. It is agreed by the parties hereto that, notwithstanding the use herein of the words
“writing,” “execution,” “signed,” “signature,” or other words of similar import, the parties hereto intend that the use of electronic signatures and the keeping of records in electronic form be granted the
same legal effect, validity or enforceability as a signature affixed by hand or the use of a paper-based record keeping system (as the case might be) to the extent and as provided for in any applicable law including the Federal Electronic Signatures
in Global and National Commerce Act or any similar state laws based on the Uniform Electronic Transactions Act. 
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INTENTIONALLY LEFT BLANK]  

  
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 IN WITNESS WHEREOF, the Lender and the Borrower have caused this Loan Agreement and Note to be duly
executed as of the date set forth below. 
 LENDER: 
  

			
	
	MONTAUK RENEWABLES, INC.
		
	By	 	 
		 	Name:
		 	Title:

 BORROWER: 
  

			
	
	MONTAUK HOLDINGS LIMITED
		
	By	 	 
		 	Name:
		 	Title:

  

			
	Dated:Exhibit
10.2

 

CHAIRMAN OF THE BOARD AND CHIEF
EXECUTIVE OFFICER & PRESIDENT AGREEMENT

 

 

This
CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER AND PRESIDENT AGREEMENT (the “Agreement”) is made effective as November
24, 2020, (the “Effective Date”) by and between B2Digital, Incorporated, a Delaware corporation (the “Company”),
and Greg P. Bell (the “COB/CEO”).

 

RECITALS

 

A.             Effective
November 24, 2017, the Company entered into a Chairman of the Board and Chief Executive Officer & President Agreement (the
“2017 Agreement”) with the COB/CEO.

 

B.             Company
has spent significant time, effort, and money to develop certain Proprietary Information (as defined below), which Company considers
vital to its business.

 

C.             The
Proprietary Information may necessarily be communicated to or received by COB/CEO in the course of serving as Chairman of the
Board, Chief Executive Officer and President of the Company and Company desires to retain the services of COB/CEO, only if, in
doing so, it can protect its Proprietary Information and goodwill.

 

D.             Company
desires to continue to retain the services of COB/CEO to serve on the Company’s Board (the “Board”), as the
Chairman of The Board, Chief Executive Officer and President of the Company and to enter into the Agreement which shall supersede
and replace the 2017 Agreement. COB/CEO desires to continue to serve as the Chairman of the Board, Chief Executive Officer and
President of the Company and enter into the Agreement, upon the following terms and conditions.

 

AGREEMENT

 

NOW, THEREFORE, the parties hereto hereby
agree as follows:

 

1.             Term.
The term of this Agreement (the “Term”) shall be the period commencing on the Effective Date and the COBCCEO cannot
be removed from his COB/CEO position without 80% of the votes of all Stockholders of the Company approving the termination, unless
by reason of legal incapacity as determined by a court of competent jurisdiction in Nevada, and in such event, such removal shall
only be until capacity has been regained, or except by reason of the death. The director can terminate this Agreement upon three
(3) months’ prior written notice to the Company, whereupon this Agreement shall terminate except that the provisions set
forth in Sections 3.b, 3.c., 4 and 6 of this Agreement shall survive such termination.

 

2.              Supersede
and Replace. This Agreement shall supersede and replace the 2017 Agreement and the 2017 Agreement shall be terminated
as of the Effective Date.

 

3.              Position,
Duties, Responsibilities.

 

a.              Duties.
COB/CEO shall perform those service (the “Services”) as may be reasonably requested by the Company from time to
time, including but not limited to the Services described on Exhibit A attached hereto. COB/CEO shall devote his commercially
reasonable efforts and attention to the performance of the Services for the Company on a timely basis. COB/CEO shall also make
himself available to answer questions, provide advice and provide Services to the Company upon reasonable request and notice from
the Company. COB/CEO will perform the Services faithfully, diligently and to the best of his skill and ability.

 

 

 

 

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b.              COB/CEO
Representations and Covenants.

 

 

		(i)	COB/CEO hereby represents, warrants and covenants that COB/CEO has the right,
power and authority to enter into this Agreement and that neither the execution nor delivery of this Agreement, nor the performance
of the Services by COB/CEO, will conflict with or result in a breach of the terms, conditions or provisions of, or constitute a
default under, any contract, covenant or instrument under which COB/CEO is now, or hereafter becomes, obligated.

 

c.               Company
Representations and Covenants.

 

		(i)	Company hereby agrees that it shall be solely responsible for the impact
of any and all taxes arising out of the COB/CEO’s receipt of any equity compensation payable under this Agreement.

 

		(ii)	Company hereby represents, warrants and covenants that it has the right,
power and authority to enter into this Agreement and that neither the execution nor delivery of this Agreement, nor the performance
of the this Agreement, will conflict with or result in a breach of the terms, conditions or provisions of, or constitute a default
under, any contract, covenant or instrument under which Company is now, or hereafter becomes, obligated.

 

4.              Compensation,
Benefits, Expenses.

 

a.              Compensation.
As full and complete consideration for the Services to be rendered hereunder, the Company shall pay COB/CEO the Compensation
described on Exhibit A attached hereto.

 

b.              Reimbursement
of Expenses. Company shall promptly reimburse COB/CEO for any reasonable costs and expenses incurred by COB/CEO in connection
with any Services specifically requested by Company and actually performed by COB/CEO pursuant to the terms of this Agreement.
Each such expenditure or cost shall be reimbursed only if: (i) with respect to costs and expenses in excess of $100, individually,
and (ii) with respect to costs and expenses of less than $100, individually, COB/CEO furnishes to Company adequate records and
other documents reasonably acceptable to Company evidencing such expense or cost.

 

5.              Proprietary
Information; Work Product; Non-Disclosure.

 

a.              Defined.
Company has conceived, developed and owns, and continues to conceive and develop, certain property rights and information,
including but not limited to its business plans and objectives, client and customer information, financial projections, marketing
plans, marketing materials, logos, and designs, and technical data, inventions, processes, know-how, algorithms, formulae, franchises,
database’s, computer programs, computer software, user interfaces, source codes, object codes, architectures and structures,
display screens, layouts, development tools and instructions, templates, and other trade secrets, intangible assets and industrial
or proprietary property rights which may or may not be related directly or indirectly to Company’s software business and
all documentation, media or other tangible embodiment of or relating to any of the foregoing and all proprietary rights therein
of Company (all of which are hereinafter referred to as the “Proprietary Information”). Although certain information
may be generally known in the relevant industry, the fact that Company uses it may not be so known. In such instance, the knowledge
that Company uses the information would comprise Proprietary Information. Furthermore, the fact that various fragments of information
or data may be generally known in the relevant industry does not mean that the manner in which Company combines them, and the
results obtained thereby, are known. In such instance, that would also comprise Proprietary Information.

 

 

 

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b.              General
Restrictions on Use. COB/CEO agrees to hold all Proprietary Information in confidence and not to, directly or indirectly,
disclose, use, copy, publish, summarize, or remove from Company’s premises any Proprietary Information (or remove from the
premises any other property of Company), except to the extent authorized and necessary to carry out COB/CEO’s responsibilities
under this Agreement. Notwithstanding the foregoing, such restrictions shall not apply to: (x) information which COB/CEO can show
was rightfully in COB/CEO’s possession at the time of disclosure by Company; (y) information which COB/CEO can show was
received from a third party who lawfully developed the information independently of Company or obtained such information from
Company under conditions which did not require that it be held in confidence; or (z) information which, at the time of disclosure,
is generally available to the public.

 

c.               Ownership
of Work Product. All Work Product (as defined below) shall belong exclusively to Company and its designees. If by operation
of law, any of the Work Product, including all related intellectual property rights, is not owned in its entirety by Company automatically
upon creation thereof, then COB/CEO agrees to assign, and hereby assigns, to Company and its designees the ownership of such Work
Product, including all related intellectual property rights. “Work Product” shall mean any writings (including excel,
power point, emails, etc.), programming, documentation, data compilations, reports, and any other media, materials, or other objects
produced as a result of COB/CEO’s work or delivered by COB/CEO in the course of performing that work.

 

d.              Further
Assurances. COB/CEO agrees to take sure further actions and execute and deliver such further agreements and other instruments
as Company may reasonably request to give effect to this Section 4.

 

e.               Return
of Proprietary Information. Upon termination of this Agreement, COB/CEO shall upon request by the Company promptly deliver
to Company at Company’s sole cost and expense, all Proprietary Information, and all other materials in its possession or
under its control relating to the Proprietary Information and/or Services, as well as all other property belonging to Company
which is then in COB/CEO’s possession or under its control. Notwithstanding the foregoing, COB/CEO shall retain ownership
of all works owned by COB/CEO prior to commencing Services for Company hereunder, subject to Company’s nonexclusive, perpetual,
paid-up right and license to use such works in connection with its use of the Services and any Work Product.

 

f.               Remedies/Additional
Confidentiality Agreements. Nothing in this Section 4 is intended to limit any remedy of Company under applicable state
or federal law. At the request of Company, COB/CEO shall also execute Company’s standard “Confidentiality Agreement”
or similarly named agreement as such agreement is currently applied to and entered into by Company’s most recent employees.

 

6.              Non-Compete.
During the Term, COB/CEO shall not compete directly with the Company. During the period that is six (6) months after the termination
of this Agreement, COB/CEO shall provide the Company with written notice any time that COB/CEO provides any services, as an employee,
consultant or otherwise, to any person, company or entity that competes directly with the Company. Notwithstanding anything to
the contrary contained herein.

 

7.              Miscellaneous.

 

a.              Notices.
All notices required under this Agreement shall be deemed to have been given or made for all purposes upon receipt of such
written notice or communication. Notices to each party shall be sent to the address set forth below the party’s signature
on the signature page of this Agreement. Either party hereto may change the address to which such communications are to be directed
by giving written notice to the other party hereto of such change.

 

b.              Entire
Agreement. This Agreement and any documents attached hereto as exhibits constitute the entire agreement and understanding
between the parties with respect to the subject matter herein and therein, and supersede and replace any and all prior agreements
and understandings, whether oral or written with respect to such matters. The provisions of this Agreement may be waived, altered,
amended or replaced in whole or in part only upon the written consent of both parties to this Agreement.

 

 

 

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c.               Severability,
Enforcement. If, for any reason, any provision of this Agreement shall be determined to be invalid or inoperative, the
validity and effect of the other provisions herein shall not be affected thereby, provided that no such severability shall be
effective if it causes a material detriment to any party.

 

d.              Governing
Law. The validity, interpretation, enforceability, and performance of this Agreement shall be governed by and construed
in accordance with the laws of the State of Florida, without regard to its conflict of law rules that would require the application
of the laws of any other jurisdiction. Venue for any and all disputes arising out of this Agreement shall be the state and Federal
courts sitting in the City of Tampa, Florida.

 

e.               Injunctive
Relief. The parties agree that in the event of any breach or threatened breach of any of the covenants in Section 4, the
damage or imminent damage to the value and the goodwill of Company’s business will be irreparable and extremely difficult
to estimate, making any remedy at law or in damages inadequate. Accordingly, the parties agree that Company shall be entitled
to injunctive relief against COB/CEO in the event of any breach or threatened breach of any such provisions by COB/CEO, in addition
to any other relief (including damages) available to Company under this Agreement or under applicable state or Federal law.

 

f.               Publicity.
The Company shall have the right to use the name, biography and picture of COB/CEO on the Company’s website, marketing
and advertising materials.

 

g.              Counterparts.
This Agreement may be executed in two or more counterparts each of which shall be deemed an original, but all of which shall together
constitute one and the same instrument. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

h.              Severability.
The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect
any other provision of this Agreement, which shall remain in full force and effect. If any provision of this Agreement shall be
declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part, such
provision shall be interpreted so as to remain enforceable to the maximum extent permissible consistent with applicable law and
the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable
to the extent they are valid, legal and enforceable, and no provisions shall be deemed dependent upon any other covenant or provision
unless so expressed herein.

 

i.               Legal
Costs. In any action to enforce this Agreement, the prevailing party shall be entitled
to recover all court costs and expenses and reasonable legal fees and outlay, in addition to any other relief to which it may
be entitled.

 

[Signature page follows.]

 

 

 

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, each
party hereto has duly executed this Agreement as of the Effective Date.

 

	B2DIGITAL, INCORPORATED	COB/CEO
	 	 
	 	 
	 	 
	Signature:
    /s/ Paul LaBarre	Signature:
    /s/ Greg P. Bell
	Name: Paul LaBarre	Name: Greg P. Bell
	Title: Director	Address: 4522 West Village Dr.
	Address: 4522 West Village Drive	                 Tampa, Florida 33624
	                 Suite 215	 
	                 Tampa, Florida 33624	 
	 	 
	 	 
	Signature: /s/ Andrew Georgens	 
	Name: Andrew Georgens	 
	Title: Director	 
	Date:	 
	 	 
	 	 
	Signature: /s/ Darryl Metz	 
	Name: Darryl Metz	 
	Title: Director	 
	Date:	 

 

 

 

 

    	 	5	 

     

    

 

Exhibit A

 

Services.

 

As
the COB/CEO, you shall:

 

		v	Call and Manage Board Meetings As needed by the Company

		v	Participate in Board Meetings and calls as requested by “Company”

		v	Perform the duties of Chairman & CEO of the Company as per industry standards

		v	Operate all matters of the Company

 

Compensation.

 

	A.	Management Time

		1.	The Company shall issue COB/CEO 40,000,000
(Fifty Million) Preferred Series B “Shares” of the “Company”' to Greg P. Bell, the “Shares”
for the COB/CEO management time in managing the Company.

		2.	A Salary of $120,000 per year

		3.	Participation in the Executive Level
Benefit Package as adopted and approved by the Company Board of Directors.

 

 

 

 

 

 

 

 

 

    	 	6

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