Document:

Exhibit 4.21

 

Loan Agreement

 

This contract is entered into
by and between the lender and the borrower on an equal and voluntary basis according to law. In order to safeguard the legitimate rights
and interests of the borrower, the lender hereby requests the borrower to pay full attention to all the provisions concerning the rights
and obligations of both parties, especially the contents in bold type.

 

Lender: Industrial and Commercial
Bank of China Guangzhou Fangcun Branch 

 

Address:__ No. 254, 256, and 258,
Huadi Avenue North, Fangcun, Guangzhou________

 

Borrower: Guangzhou Shuzhi
Culture Communication Co., Ltd.

 

Legal representative: Zhuoqin
Huang

 

Address: ______________________

 

Zip code:______________________

 

Fax:_ Telephone:_

 

E-mail address: ______ Contact
person: _____Mobile phone No. :_____

 

Alipay account No.: ______
Aliwangwang account No.: ______

 

Part One: Basic Clauses

 

Article 1 Purpose of
Loan

 

The loan shall be used for the following purposes.
The borrower shall not use the loan for any other purpose without the written consent of the lender, and the lender shall have the right
to supervise the purpose of the money.

 

Purpose of borrowing: Production and Operation
Activities.

 

Article 2 Amount and Term

 

2.1 The amount of the loan shall be RMB5,000,000.
The term of the loan shall be calculated from the date of withdrawal and the maturity date shall be 09/23/2023. The withdrawal date shall
be subject to the withdrawal instruction. The borrower shall make a one-time withdrawal.

 

2.2 The terms of the loan shall be from 09/23/2022
to 09/23/2023.

 

Article 3 Interest rates,
Interest and Expenses

 

3.1 [Determination the interest rate]

 

The interest rate shall be
determined in the following manner:

 

The interest rate for each loan
is determined based on the pricing basis plus floating points. Suppose the loan term is within 60 months (inclusive). In that case, the
pricing basis is the quoted market interest rate (LPR) for a one-year loan published by the National Interbank Funding Center on a working
day before the drawee, where the floating points are zero (plus/minus) 0.000000 basis points (0.1% for one basis point, the same below)
if the loan term is within 12 months (inclusive). If the loan term is more than 12 months and less than 60 months (inclusive), the floating
point is zero (plus/minus) 0.000000 basis points. Suppose the loan term is more than 60 months. In that case, the pricing benchmark is
the quoted loan market interest rate (LPR) of more than 5 years published by the National Interbank Funding Center one working day before
the withdrawal date, and the floating point is zero (plus/minus) 0.00000 basis points. Suppose the National Interbank Funding Center does
not announce the quoted loan market interest rate for the corresponding period one working day before the interest rate is determined.
In that case, the quoted loan market interest rate announced by the National Interbank Funding Center on the previous working day shall
prevail, and so on.

 

     

     

    

 

The interest rate of the loan
after withdrawal shall be adjusted in the ways specified in (A) below:

 

A. Take 12 (1/3/6/12)
months as one phase, the interest should be adjusted and calculated at each phase. The interest rate determination date of the second
and subsequent phases shall be the adjusted after the withdrawal, and the lender shall adjust the interest rate of the loan according
to the base interest rate and the floating range published by the national interbank lending center of the previous working day.

 

B. No adjustment during the
whole term.

 

3.2 The loan interest shall be calculated daily
and settled monthly from the date of withdrawal. When the loan is due, the interest should be paid off with the principal. The daily interest
rate = the annual interest rate /360.

 

3.3 The overdue penalty interest rate under this
contract shall be determined by adding 50.000000 % to the original loan interest rate, and the penalty interest rate for embezzlement
shall be determined by adding 50.000000 % to the original loan interest rate.

 

3.4 Annualized
Capital Cost. 

 

The annualized capital cost of the borrower
includes annual interest rate and annualized capital cost of      /       .The
beneficiary of the aforementioned expenditure of       /        is
not the lender, but is      /         .

 

The interest rate and other rates of the above-mentioned
expenditure are as follows (only for reference, the interest rate and other rates may be adjusted according to contract clauses, subject
to relevant contract):

 

(1) Annual loan interest rate calculated in accordance
with Article 3.1 to 3.3.

 

(2)               /               .

 

Article 4 Withdrawal

 

4.1 The borrower shall withdraw the funds of
the loan at one time. If the borrower fails to make a lump-sum withdrawal as agreed, the lender shall have the right to cancel all or
part of the loan agreement. The lender shall be regarded having fulfilled the obligation of tendering the funds of the loan to the
borrower after the lender distributes the fund to the borrower’s withdrawal account as agreed herein.

 

4.2 The borrower may draw the loan hereunder by
(2):

 

(1) Withdrawing the loan directly from the designated
branch of the lender;

 

(2) Withdrawing the loan through the e-bank of
Industrial and Commercial Bank of China (“Industrial and Commercial Bank”).

 

Article 5 Repayment

 

5.1 The borrower shall repay the loan in the ways
specified in (1) below:

 

(1) The loan shall be pay off in one lump sum
when it is maturity;

 

(2) Other:________.

 

Article 6 Account

 

The borrower shall use the following accounts
for withdrawal and repayment:

 

Withdrawal account: [*]

 

Repayment account: [*]

 

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Article 7 Guarantee

 

The loan guarantee method under the Contract is
guarantee, and the information of the corresponding guarantee contract is as follows:

 

1.The Guarantee contact No.: _0360200111-2022年芳村(保)字0152号________________

 

The guarantor: __Guangzhou Financing Re-guaranty
Co., Ltd._______________

 

2.The Guarantee contact No.: _0360200111-2022年芳村(保)字0153号________________

 

The guarantor: __ Xiamen Pop Culture Co., Ltd.
_______________

 

To avoid doubt, both parties confirm that there
may be other guarantee arrangements for the loan under the Contract in addition to the guarantee methods and contracts listed above. The
guarantee arrangement and content corresponding to the loan under the Contract shall be subject to the specific agreement in relevant
legal documents.

 

Article 8 Channels for Filing Complaints/ Making
Inquiries

 

The channels for filing complaints/ making inquiries
about the financial service (product) herein are as follows:

 

8.1 The designated branch of the lender

 

Raise a question for the customer service manager
or principal of a branch of Industrial and Commercial Bank of China or leave a message on the customer feedback book.

 

8.2 Customer Service Number

 

Call Customer Service at 95588 and choose to talk
to a representative. 

 

8.3 Online Bank and Mobile Bank 

 

Sign into personal online bank through http://www.icbc.com.cn
or sign into the mobile bank through “Industrial and Commercial Bank of China Commercial Mobile Bank” APP and talk to a representative
online. 

 

8.4 Other Channels         /           
.

 

Article 9 Others

 

Part Two: Specific Clauses

Article 1 Interest rate and Interest

 

1.1 The interest rate is determined by the benchmark
interest rate plus the floating range, the overdue interest rate shall be determined by the same manner.

 

1.2 If the interest is settled monthly, the settlement
date shall be 20th of each month, if the interest is settled quarterly, the settlement date shall be 20th of the
third month, if the interest is settled semi-annually, and the settlement date shall be June 20th and December 20th.

 

1.3 The first interest period is from the withdraw
date to the first settlement date; the last interest period is from the second date of previous settlement to the repayment date. The
rest interest periods are from the second date of previous settlement to the next settlement date.

 

1.4 Loan interest = loan principal ×
daily interest rate × actual days of use.

 

If equal principal and interest
repayment method is adopted, the calculation formula of principal and interest shall be as follows:

 

Total principal and interest of each period
= (financing principal × period interest rate × period repayment period)/ ((period interest rate) repayment period -1)

 

1.5 The new interest rate shall be adopted
in case the People’s Bank of China decides to adjust the determination method for the interest rate, and the lender is not obligated to
notify the borrower.

 

1.6 If the interest rate on the signing date
is lower than the LPR rate, the lender has the right to cancel the interest preference based the evaluation of policy change, credit status,
etc. and notify the borrower in time every year. 

 

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Article 2 Withdraw

 

2.1 The withdrawal of the loan must meet the
following preconditions; otherwise the lender is not obligated to make any payment to the borrower, except that the lender agrees to make
the loan in advance:

 

(1) Other than the credit loan, the borrower has
provided corresponding guarantees as required by the lender, has completed relevant guarantees procedures and the guarantee is not in
violation of any provisions of the guaranty agreement;

 

(2) At the time of withdrawal, the borrower’s
statements and guarantees under this agreement are still true, accurate, and complete, and no breach of this agreement or any other agreements
signed by the borrower or the lender has happened.

 

(3) The proof of loan use provided is consistent
with the agreed use.

 

(4) Submit other information required by the
lender.

 

(5) If the borrower withdraws the loan through
the Industrial and Commercial Bank of China Electronic Bank, the “Industrial and Commercial Bank of China Electronic Bank Corporate
Customer Service Agreement” signed with the lender is always valid within the loan period.

 

2.2 If the borrower withdraws the loan through
the designated business outlet of the lender, it must submit a withdrawal notice to the lender at least five working days in advance.
Once the withdrawal notice is submitted, it cannot be revoked without the written consent of the lender.

 

2.3 If the borrower withdraws the loan through
the ICBC Electronic Bank, the borrower shall sign the “Industrial and Commercial Bank of China Electronic Bank Corporate Customer
Service Agreement” with the lender, promise to abide by the “ICBC Electronic Banking Charter” and related transaction rules,
and operate in accordance with the relevant transaction rules. The withdrawal instruction submitted by the borrower through the ICBC electronic
bank and confirmed by the lender is regarded as a debit note.

 

2.4 After the borrower satisfies the prerequisites
for withdrawal or advances the loan with the consent of the lender, the lender will transfer the loan to the borrower ’s withdrawal
account agreed in this contract, which means that the lender has issued the loan to the borrower in accordance with the contract.

 

2.5 According to the relevant regulatory regulations
and lender management requirements, loans exceeding a certain amount or meeting other conditions should use the lender’s fiduciary payment
method, and the lender will pay the loan to the person in accordance with the contract according to the borrower’s withdrawal application
and payment entrustment.

 

2.6 When handling the entrusted payment, the borrower
shall provide the lender with the information of the account of the payment object and the certification materials to prove that the withdrawal
is in accordance with the agreed purpose. The borrower should ensure that all information provided to the lender is true, complete and
valid.

 

2.7 When handling the entrusted payment, the
lender only conducts a formal review of the relevant information provided by the borrower, such as the payment target information and
the loan use certification materials. If the lender does not complete the timely due to the untrue, inaccurate and incomplete information
provided by the borrower, the lender does not assume any responsibility.

 

2.8 If the lender finds inconsistency or other
defects in the use certification materials and other related materials provided by the borrower after review, it has the right to request
the borrower to supplement, replace, explain or resubmit the relevant information, and submit the materials that meet the management requirements
of the lender before the borrower. The lender has the right to refuse the issuance and payment of related money.

 

2.9 According to the purpose of the loan agreed
in this contract, the lender has the right to require the borrower, independent intermediary agency and other relevant parties to issue
relevant certification materials such as a common visa slip.

 

2.10 If the lender, after review, believes that
the information provided by the borrower is consistent with the agreed use of the loan and the withdrawal is in accordance with this contract,
the loan will first be transferred to the borrower ’s withdrawal account agreed in this contract, and then related to the accounts
designated by the borrower.

 

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2.11 Under any of the following circumstances,
the lender shall have the right to re-determine the conditions for the issuance and payment of the loan, or to cancel the contract and
payment of the loan:

 

(1) The borrower provides incorrect or invalid
information to the lender to obtain financing;

 

(2) Any negative influence for borrower’s production
and business operation, or any credit issue happened for the borrower;

 

(3) If the borrower fails to withdraw and pay
the financing funds as agreed herein, or the financing funds are used in an abnormal way;

 

(4) The borrower violates the provisions of this
contract or relevant regulatory provisions;

 

(5) The withdrawal account or payment object account
designated by the borrower is frozen or canceled by the authority.

 

2.12 If the withdrawal account designated by the
borrower or its payment target account is frozen or stopped by the authority, resulting in the lender unable to complete the entrusted
payment in accordance with the borrower ’s entrustment, the lender does not assume any responsibility and does not affect the borrower’s
Repayment obligations already incurred under the contract.

 

2.13 If the loan under this contract is paid by
the borrower independently, the borrower promises to accept and actively cooperate with the lender to inspect and supervise the use of
financing funds including usage by means of account analysis, voucher inspection, on-site investigation, etc. and to regularly report
loan usage.

 

2.14 If the lender incurs loss because the information
provided by the borrower to the lender is untrue, incomplete or invalid, the borrower shall compensate the lender for it.

 

2.15 If the lender fails to issue and pay the
loan in time according to the contract, it shall bear the corresponding liability for breach of contract, unless otherwise agreed in this
contract.

 

2.16 The lender does not assume any responsibility
for unforeseen, unavoidable, and insurmountable force majeure events such as wars, natural disasters, or unexpected events such as system
failures and communication failures of the lender, resulting in the lender failing to make the corresponding payments on time. However,
the borrower shall be notified by telephone or in writing in time.

 

Article 3 Repayment

 

3.1 The borrower is obligated to repay the principal,
interest on time.

 

If the repayment account is reported loss,
being frozen, being suspended of payment, being canceled, or the borrower needs to change the repayment account, the borrower shall apply
to change repayment account at the lender’s. Before the application of change of repayment account goes effective, if the original
repayment account does not have sufficient funds to be distributed to the lender, the borrower shall make the repayment at the counter
at the lender’s. If the borrower did not change the repayment account or make the repayment at the counter at the lender’s
in a timely manner, and resulted in default in repaying past due principal and other fees, the borrower shall bear the liability of breach
of contract.

 

3.2 The borrower may choose to repay the loan
in advance by submitting a written consent to the lender or sending out notification through ICBC ebank.

 

3.3 The lender has the right to repay the loan
in advance according to the withdrawal of the borrower’s funds. If required by the lender, the borrower shall repay the loan in installments
according to the repayment plan proposed by the lender.

 

3.4 If the actual term of the loan is shortened
due to the borrower’s prepayment or the lender’s early withdrawal of the loan as agreed herein, the corresponding interest rate shall
not be adjusted and the original interest rate shall still apply.

 

3.5 If the borrower repays in advance or the
lender withdraws the loan in advance in accordance with this contract and the actual borrowing period is shortened, the corresponding
interest rate level will not be adjusted and the original borrowing interest rate will still be implemented.

 

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Article 4 Guarantee

 

4.1 In addition to credit loans, the borrower
shall provide legal and effective guarantees recognized by the lender for the performance of its obligations under this contract.

 

4.2 The collateral under this contract is damaged,
depreciated, property rights disputes, seized or seized, or the collateral (the pledge) arbitrarily handles the collateral (the pledge),
or the guarantor of the guarantee of the financial situation has adversely changed or other changes adverse to the lender’s claims occur,
the borrower shall notify the lender in time and provide other guarantees approved by the lender.

 

4.3 The lender shall have the right to re-evaluate
the value of the security property and the guarantee ability of the guarantor periodically or irregularly. If it is deemed that the value
of the security property is reduced, the guarantee ability of the guarantor is reduced or the guarantee violates any provisions of the
guaranty agreement the borrower shall provide additional guaranty equal to the reduced value or reduced guarantee ability. The reduced
portion of the equivalent guarantee may also be provided in addition to other guarantees approved by the lender.

 

4.4 If the loan under this contract provides
pledged security with accounts receivable, during the validity period of this contract, if one of the following situations occurs, the
lender has the right to declare the loan to expire early and require the borrower to repay part or all of the loan principal and interest
immediately Legal, valid and full guarantees approved by the lender:

 

(1) The bad debt rate of accounts receivable from
the pledger of the accounts receivable to the payer has been rising for 2 consecutive months;

 

(2) The accounts receivable due from the pledgor
of the accounts receivable to the payer accounted for more than 5% of the balance of accounts receivable to the payer; or

 

(3) The pledgee of the accounts receivable has
trade disputes (including but not limited to quality, technology and service disputes) or debt disputes with the payer or other third
parties, which may cause the receivables to fail to be paid on time.

 

Article 5 Representations and Warranties

 

The borrower makes the following representations
and warranties to the lender, which shall remain valid throughout the term of this contract:

 

5.1 It is qualified as the subject of the borrower
and has the qualification and ability to sign and perform this contract.

 

5.2 The signing of this contract has obtained
all necessary authorization or approval, and the signing and performance of this contract does not violate the company’s articles of association
and relevant laws and regulations, and has no conflict with other obligations under this contract.

 

5.3 Other debts payable have been paid on schedule
and there is no malicious default on the principal and interest of bank loans.

 

5.4 The company has a complete organizational
structure and financial management system. No major violations of rules and regulations have taken place in the production and operation
process in the recent years, and the current senior managers have no major bad records.

 

5.5 All documents and materials provided to the
lender are true, accurate, complete and valid, and there are no false records, material omissions or misleading statements.

 

5.6 The financial and accounting reports provided
to the lender are prepared in accordance with Chinese accounting standards, which is truly, fairly and completely reflect the borrower’s
business conditions and liabilities, and also the borrower’s financial statements since the date of the latest financial and accounting
reports have no material adverse change.

 

5.7 Failure to conceal the litigation, arbitration
or claims incidents involved from the lender.

 

5.8 Have known and fully understood the various
transaction rules of the ICBC Internet Banking and other electronic banking systems related to this Contract.

 

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Article 6 Borrower commitment

 

6.1. Borrower accepts and shall abide by Lender’s
business system, operational practices, and the procedures under this Loan Contract.

 

6.2. Borrower warrants that it will cooperate
with Lender on the supervision and inspection of the use of the funds borrowed under this Loan Contract and of the business condition
of Borrower and that it will promptly provide all financial statements and related materials needed by Lender, which Borrower warrants
to be true, complete and accurate.

 

6.3. Accept and actively cooperate with the
lender in the inspection and supervision of the use of the borrowing funds, including the use, by means of account analysis, voucher inspection,
on-site investigation, etc., and regularly summarize and report the use of the borrowing funds according to the lender’s requirements.

 

6.4. To provide data (including money owed, and
loan newly borrowed large in sum etc.) as what the money lender asks, and cooperate with the money lender to investigate, censor and check
any aspects of personal economic income and expenses related to the loan;

 

6.5 If there is any outstanding principal and
interest of borrowings and other payables that are due (including being immediately due) under this contract, dividends and bonuses will
not be distributed in any form.

 

6.6 The merger, division, capital reduction, equity
change, equity pledge, major asset and debt transfer, major foreign investment, substantial increase in debt financing, and other actions
that may adversely affect the lender’s equity should be carried out with prior written consent from the lender or arrangements that meet
the lender’s management requirements for the realization of the lender’s claims.

 

6.7 Borrower warrants that it will issue written
notices to Lender upon occurrence or possible occurrence of the following events in time:

 

(1) Borrower amends it articles
of association, replaces its legal representative, reduces its registered capital or makes material changes in its finances or personnel;

 

(2) Suspension of business,
dissolution, liquidation, suspension of business operations for rectification, revocation of business license, revocation or application
for bankruptcy;

 

(3) Borrower involves or may
involve major economic disputes, litigation, arbitration, or its assets are seized, or enforced, or judicial, taxation, industry and commerce,
and other competent authorities have filed investigations or taken punishment;

 

(4) Borrower is a party to
a material legal suit or its main assets have been put under property preservation or other orders;

 

(5) Mergers, divisions, capital
reductions, equity changes, equity pledges, withdrawals, major asset and debt transfers, major foreign investments, substantial increase
in debt financing, and other events that may adversely affect the lender’s equity.

 

6.8 Timely, comprehensively and accurately disclose
related party relationships and related party transactions to lenders.

 

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6.9 Sign all kinds of notices sent by lenders
or delivered in other ways in time.

 

6.10 Not dispose of its own assets in a way
that reduces its solvency; providing guarantees to third parties does not damage the rights and interests of the lender.

 

6.11 If the loan under this contract is issued
by credit, the external guarantee shall be reported to the lender regularly, completely, truthfully and accurately, and the account supervision
agreement shall be signed according to the requirements of the lender. If the external guarantee may affect the performance of its obligations
under this contract, it must be approved in writing by the lender.

 

6.12 The order in which the borrower’s debts are
settled under this contract takes precedence over the borrower’s debts to its shareholders, legal representatives or principals, partners,
major investors or key management personnel, and the debts of the same type with the borrower’s other creditors are at least equal status.

 

6.13 Have known and fully understood the various
transaction rules of the ICBC Internet Banking and other electronic banking systems related to this contract; keep customer certificates
and passwords properly, all operations performed using the borrower’s customer number (card number), password or customer certificate
Treated as the borrower’s own actions, the resulting electronic information records are used as evidence to prove and handle the loan
relationship under this contract.

 

6.14 If the repayment funds of the borrower
(including but not limited to funds obtained by detainment and disposal of collaterals) are not sufficient to repay all the debts of
the borrower to the lender under this loan agreement and other agreements, the lender shall have the right to decide the order of repayment.

 

6.15 Strengthen environmental and social risk
management, and accept the supervision and inspection of lenders in this regard. Submit environmental and social risk reports to the lender
if required by the lender.

 

Article7 Lender Commitment

 

7.1 To release the full loan on schedule;

 

7.2 To keep a secret for the borrower in such
areas as occupation, economic income and expenses etc.

 

Article 8 Events of Default

 

8.1. Any of the following events shall be considered
a default under this Article:

 

(1) The borrower fails to repay
the loan principal and interest and other payables under this contract as agreed, or fails to perform any other obligations under this
contract, or violates the statements, guarantees or commitments under this contract;

 

(2) The guarantee under this
contract has changed to the detriment of the lender’s claims, and the borrower has not provided other guarantees that meet the lender
’s management ;

 

(3) Borrower or guarantor is
involved in illegal activities;

 

(4) According to the stipulations
in the loan terms, in case of the guarantor (guaranty) changed, which leads to the obligations performed by the guarantor ahead of schedule
or the disposal of guaranty by the money lender in advance; or any actions the borrower may take which influence returning the principal
and interests to the money lender;

 

(5) The borrower’s financial
indicators such as profitability, solvency, operating capacity and cash flow exceed the agreed standards, or the deterioration has or
may affect the performance of its obligations under this contract;

 

(6) The borrower’s equity structure,
production and operation, foreign investment, etc. have undergone significant adverse changes that have or may affect the performance
of its obligations under this contract;

 

(7) The borrower is involved
or may be involved in major economic disputes, litigation, arbitration, or the assets are seized, seized, or enforced, or the judicial
or administrative organs file the case for investigation and punishment, or take punitive measures according to law, or have been violated
due to violation of relevant national regulations or policies, media exposure that has or may affect the performance of its obligations
under this contract;

 

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(8) Abnormal changes, disappearances
of the main investor of the borrower, key management personnel, disappearance, or legal investigation by the judicial authority or restrictions
on personal freedom that have or may affect the performance of their obligations under this contract;

 

(9) Borrowers use false contracts
with related parties, use transactions without actual transaction background to borrow lender funds or credits, or intentionally evade
the lender’s claims through related party transactions;

 

(10) The borrower has or may
be closed, disbanded, liquidated, suspended for business rectification, revoked business license, revoked, or filed (applied for);

 

(11) The borrower has caused
liability accidents, major environmental and social risk events due to violations of laws and regulations, regulatory provisions or industry
standards related to food safety, safe production, environmental protection and other environmental and social risk management, which
have or may affect his performance of obligations;

 

(12) If the loan under this
contract is issued by credit, the borrower’s credit rating, profitability, asset-liability ratio, net cash flow from operating activities
and other indicators do not meet the lender’s credit loan conditions; or the borrower does not have the written consent of the lender
and use its effective operating assets to set up guarantees (pledges) to others or to provide external guarantees, which has or may affect
the performance of its obligations under this contract;

 

(13) Other circumstances that
may cause the lender ’s realization of its claims under this contract to be adversely affected.

 

8.2. In the event of events of default, Lender
has the right to take the following steps:

 

(1) Request the borrower to
rectify the breach of contract within a time limit ;

 

(2) Stop providing loan funds
that Borrower has not yet used;

 

(3) Unilaterally declare all
principal already lent under the Loan Contract to be due ahead of the contract due date and require Borrower immediately to return the
principal and pay all interest due; and

 

(4) Take other remedies as
provided by applicable laws and regulations.

 

(5) If the borrower fails to
repay the loan as contracted or the borrower fails to use the loan for the purposes specified in this contract, the lender shall have
the right to charge the penalty interest at the overdue penalty interest rate stipulated in this contract from the date of the expiration
of the loan.

 

8.3 If the borrower is due (including the immediate
expiration of the loan) and the borrower fails to repay as agreed, the lender shall have the right to collect the penalty interest at
the overdue penalty interest rate agreed in this contract from the date of overdue. For the interest (including penalty interest) that
the borrower fails to pay on time, compound interest will be charged at the overdue penalty interest rate. Penalty / compound interest
settlement rules apply to the interest settlement rules stipulated in this contract.

 

8.4 If the borrower fails to use the loan for
the purposes stipulated in this contract, the lender has the right to collect the penalty interest on the embezzled portion of the embezzled
loan penalty interest rate from the date the loan is embezzled. If the loan is not paid on time during the embezzlement for interest (including
penalty interest), compound interest shall be collected at the penalty interest rate of embezzled loans. Penalty / compound interest settlement
rules apply to the interest settlement rules stipulated in this contract.

 

8.5 If the borrower occurs at the same time as
described in Articles 8.3 and 8.4 above, the penalty interest rate shall be determined by whichever is heavier and cannot be imposed concurrently.

 

8.6 If the borrower fails to repay the loan
principal, interest (including penalty interest and compound interest) or other payables on time, the lender has the right to make announcements
through the media.

 

8.7 The control or controlled relationship between
the borrower ’s related party and the borrower has changed, or the borrower ’s related party has experienced other circumstances
in addition to item (1) (2) in Article 8.1 above, which has or may If it affects the performance of the borrower ’s obligations
under this contract, the lender shall have the right to take the measures agreed upon in this contract.

 

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Article 9 Automatic Cancellation of Lender’s
Promises

 

9.1 If the credit status of the borrower worsens,
the lender shall have the right to cancel its promises to loan the rest of the funds under this loan agreement to the borrower without
advance notice.

 

9.2 Any one of the events under article 8.1 and
8.7 constitutes worsened credit status of the borrower. 

 

Article 10 Deduction

 

10.1 If the borrower fails to repay the debts
on time (including the debts which is declared to be immediately due) as agreed in the contract, the borrower agrees that the lender withholds
the corresponding amount from all the local and foreign currency accounts opened by the borrower in Industrial and Commercial Bank for
repayment until the loan is made. The date when all debts of the payee under this contract have been discharged.

 

10.2 If the withholding amount is inconsistent
with the currency hereof, it shall be converted according to the exchange rate applicable to the lender on the withholding date. The interest
and other expenses incurred during the period of the debt and the difference caused by the fluctuation of exchange rate during the period
shall be paid by the borrower.

 

Article 11 Transfer of Rights and Duties

 

11.1 The money lender may transfer his rights
and interests under the contract to other people even if with no approval from borrower or guarantor, while the borrower and guarantor
shall continue to finish their responsibilities or obligations stipulated in the contract; the borrower or guarantor shall not transfer
his responsibilities or obligations stipulated in the contract to a third party if with no written approval from the money lender.

 

11.2 The Lender or China Industrial and Commercial
Bank Co., Ltd. may authorize or entrust other branches of the Industrial and Commercial Bank to perform the rights and obligations under
the Contract according to the needs of operation and management, or transfer the loan creditor’s rights under the Contract to other branches
of the Industrial and Commercial Bank for taking over and management. The Borrower acknowledges this, and the above-mentioned behavior
of the Lender does not need to obtain the consent of the Borrower. Other branches of the Industrial and Commercial Bank that undertake
the lender’s rights and obligations have the right to exercise all the rights under the Contract, and have the right to bring a lawsuit,
submit an arbitration or apply for enforcement in the name of the institution in respect of the disputes under the Contract.

 

Article
12 Take Effect, Change, Cancel and Terminate

 

12.1 This contract shall come into force when
the following conditions are met and shall be valid until the date when the borrower’s obligations here under have been fully fulfilled

 

(1) The electronic signature
of the borrower and the confirmation of the lender;

 

(2) The loan application
submitted by the borrower shall be approved by the lender.

 

The lender may confirm this contract by means
of electronic banking system.

 

12.2 If, due to reasons of system malfunction
or any force majeure events, the amount of loan, maturity date, or any other material terms of Loan Agreement appear incorrect in the
e-bank platform of Industrial and Commercial Bank, the creditor shall have the right to correct such information and timely notify the
borrower.

 

12.3 The borrower shall acknowledge and understand
the transactions rules of the e-bank platform of Industrial and Commercial Bank in relation to Loan Agreement. The borrower shall keep
its customer certificate and passcode properly. Any transactions made in connection with the borrower’s customer number, passcode,
or customer certificate are deemed to be made by the borrower, and any records thereof shall be proof of such transactions. Electronic
signatures the borrower provides for this Loan Agreement made through the e-bank platform of Industrial and Commercial Bank are deemed
to be authorized by the borrower.

 

12.4 Any modification to this Agreement shall be
negotiated and agreed upon by both parties, and be made in writing. Modifications to this Agreement shall constitute part of the Agreement
and have the same legal effect. Prior to the effective date of a modification, the original clause remains legally effective.

 

12.5. In the event of change of laws, regulations
or legal practice which will cause any terms contained in this contract become illegal, invalid or loss of practice, the other part of
this contract shall not be impaired by it. The both parties shall make efforts to change the illegal, invalid or loss of practice part.

 

    10

     

    

 

12.6. If any clause of Loan Agreement becomes
invalid or unenforceable, there shall be no impact on the validity or enforceability of any other clauses of Loan Agreement, nor shall
it impact the enforceability of Article 12 in relation to dispute resolution.

 

12.7. There shall be no influences on the rights
that each party has for its losses compensated after any changes or termination of the contract happened. The termination of the contract
shall not affect the effectiveness of the clauses in the contract stipulated for settling disputes.

 

Article 13 Application of law and dispute resolution
Article

 

The conclusion, validity, interpretation, performance
and dispute settlement of this agreement shall be governed by the laws of the People’s Republic of China. All disputes and disputes arising
out of or in connection with this agreement shall be settled by the parties through negotiation. If no agreement can be reached through
negotiation, the dispute shall be litigated in the People’s Court where the lender is located with proper jurisdiction.

 

Article 14 The address of service of litigation/arbitration
documents shall be sent

 

14.1 The borrower acknowledges that the address
set forth on the first page of this contract shall be the service address of the litigation/arbitration documents involved in the disputes
hereunder. Litigation/arbitration documents include but are not limited to summons, notice of hearing, judgment, order, conciliation statement
and a notice of performance, etc.

 

14.2 The borrower agrees that arbitration/litigation
documents may be served by the arbitration institution or the court by fax or E-mail as set forth in the first page of this contract,
except the written judgment, order or conciliation statement.

 

14.3 The above provisions on service shall apply
to all stages of first instance, second instance, retrial and execution of arbitration and litigation proceedings. For the above address
of service, service may be made by the arbitration institution or the court directly by mail.

 

14.4 The borrower shall ensure the authenticity
and validity of the address, contact person, fax, E-mail and other information recorded in this contract. If the relevant information
is changed, the borrower shall promptly notify the lender in writing; otherwise, the borrower shall bear any legal consequences due to
they fail to provide the valid address. 

 

Article 15 Complete Agreement

 

This Loan Agreement is comprised of Part One:
Basic Clauses and Part Two: Specific Clauses. Any phrase in both parts of Loan Agreement shall have the same meanings. Both parts apply
to the loan made pursuant to this Loan Agreement.

 

Article 16 Notice

 

16.1 All notices shall be sent in writing (including
electronic form). Unless otherwise agreed, the address in the contract shall be the contact address. Any change in the contact mode
of either party shall be notified to the other party in writing in time.

 

16.2 In addition to correspondence, the borrower
and guarantor agreed to accept electronic means such as telephone, email, text message, and WeChat as lender notification and collection
methods. If the borrower or guarantor changes the address or related electronic contact information reserved by the lender, the borrower
or guarantor shall have the obligation to notify the lender in writing in time. Due to the failure to notify in time, the notification
and collection documents sent by the lender according to the original reserved address or relevant electronic contact information are
still valid, and the borrower and guarantor shall bear the legal consequences.

 

16.3 In the event that any party to Loan Agreement
rejects to receive notices, or any notice cannot be delivered due to other circumstances, notice shall be deemed to be given if the sender
obtains notary certificate. 

 

    11

     

    

 

Article 17 Special provisions of value-added
tax

 

17.1 The interest and fees paid by the borrower
to the lender under this contract (as specified in the contract) are tax-inclusive.

 

17.2 If the borrower requires the lender to issue
a VAT invoice, it shall first register the information at the lender, including the borrower’s full name, taxpayer identification number
or social credit code, address, telephone number, bank of deposit and account number. The borrower shall ensure that the relevant information
provided to the lender is true, accurate and complete, and provide relevant proof materials as required by the lender. The specific requirements
shall be published by the lender through the network notice or website announcement.

 

17.3 If the borrower collects the VAT invoice
by itself, it shall provide the lender with the power of attorney with the stamp, designate the recipient and specify the recipient’s
ID card number and other information. The designated recipient shall collect the VAT invoice with the original ID card. If the person
is changed, the borrower shall re-issue the power of attorney with seal to the lender. If the borrower chooses to receive the VAT invoice
by mail, it shall also provide accurate and deliverable postal information; if the mailing information has been changed, it shall promptly
notify the lender in writing.

 

17.4 If the lender fails to issue the VAT invoice
in time due to force majeure such as natural disasters, governmental ACTS, social abnormal events or tax authorities, the lender shall
have the right to delay the invoice issuance without any liability.

 

17.5 If the invoice is lost, damaged or overdue
after the VAT invoice is received by the borrower or after the lender has handed it over to a third party, the borrower cannot receive
the corresponding VAT invoice or the deduction cannot be credited the person is not responsible for compensation for the borrower ’s
related economic losses.

 

17.6 If the VAT invoice is received by the borrower
or delivered by the lender to a third party by mailing, and the invoice is lost, damaged or overdue due to other non-lender reasons, which
causes the borrower to fail to receive the corresponding VAT invoice or fail to offset the overdue VAT invoice, the lender shall not be
responsible for compensating the borrower for the relevant economic losses.

 

17.7 During the performance of this contract,
in case of national tax rate adjustment, the lender shall have the right to adjust the agreed price according to the change of national
tax rate.

 

Article 18. Other Clauses

 

18.1 The non-exercise, partial exercise, or delay
in the exercise of any rights that the borrower has under this Agreement shall not constitute the abandonment or alteration of such rights,
nor shall it impact the borrower’s future exercise of such rights or any other rights it has under this Agreement.

 

18.2 The invalidity of any clause in the contract
shall not affect the validity of other clauses, nor shall it affect the validity of the whole contract.

 

18.3 This contract could be amended and supplemented
upon the written agreements conclude by the parties. Any an amendment and supplement shall be integral party of this contract.

 

18.4 In this Agreement and any modifications thereof,
“Primary Management Personnel” shall be interpreted pursuant to the definition in Corporation Accounting Standards No.36.

 

18.5 The environmental and social risks mentioned
in this contract refer to the harm and related risks that the borrower and its important related parties may bring to the environment
and society during construction, production and business activities, including energy consumption, pollution, land, health and safety,
resettlement, ecological protection, climate change and other environmental and social issues.

 

18.6 Any certificate or records kept by the
creditor in its regular course of business shall have binding evidentiary effects on the borrower regarding its lender-borrower relationship
with the money lender.

 

18.7 In this Agreement:

 

(1) “Agreement”
shall include any modifications or supplement made to the original Loan Agreement;

 

(2) titles of the Articles
shall be used for reference only and shall not be interpreted to explain or limit any contents of this Agreement; and

 

(3) if withdrawal or payment
is made on a non-business day, the effective date is postponed to the next business day.

 

This Loan Contract has two originals, which are
identical to each other, with each of the parties holding one copy. There are several duplicates for future reference.

 

Lender: Industrial and Commercial Bank of China
Guangzhou Fangcun Branch

 

Borrower: Guangzhou Shuzhi Culture Communication
Co., Ltd.

 

Agreement entered in: Guangzhou, Guangdong Province

 

Date: 09/23/2022

 

    12EX-10.104

  	Exhibit 10.104

   

  EMPLOYMENT AGREEMENT

   

  This Employment Agreement (“Agreement”) is made by and between Live Ventures Incorporated (the “Company”) and Wayne Ipsen (“Executive”). Executive and Company shall be referred to herein, collectively, as the “Parties” and, individually, as a “Party.”

   

  RECITALS

   

  WHEREAS, the Company desires to employ Executive on the terms and conditions set forth herein;

   

  WHEREAS, Executive desires to be employed by the Company on such terms and conditions;

   

  WHEREAS, for purposes of Executive’s employment with the Company, Executive agrees that Executive will be considered an executive and officer of the Company; and

   

  WHEREAS, the Parties have never entered into any employment agreement or established an employment relationship with each other.

   

  NOW, THEREFORE, in consideration of the mutual promises made herein, the adequacy and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

   

  1.Employment Term. The Executive's employment hereunder shall be effective as of mutual execution of this Agreement reflected on the signature page of this Agreement (the “Effective Date”) and shall continue until the first anniversary thereof, unless terminated earlier pursuant to Section 5 of this Agreement; provided that, on such first anniversary of the Effective Date and each annual anniversary thereafter (such date and each annual anniversary thereof, a “Renewal Date”), the Agreement shall be deemed to be automatically extended, upon the same terms and conditions, for successive periods of one year, unless either Party provides written notice of its intention not to extend the term of the Agreement at least 90 days’ prior to the applicable Renewal Date. The period during which the Executive is employed by the Company hereunder is hereinafter referred to as the “Employment Term.”

   

  2.Position and Duties.

   

  a.Duties. The Board of Directors of the Company (the “Board”) hereby appoints and employs Executive as the Company’s Chief Legal Officer and Corporate Secretary (an exempt position). During the Employment Term, Executive shall report to the Company’s President and Chief Executive Officer (the “CEO”). Executive’s duties and responsibilities shall include: (i) all duties usual and customary to Executive’s position, including but not limited to providing legal guidance to the Company in its business affairs and dealings; and (ii) such duties as may be assigned by the CEO to Executive from time to time. 

   

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  Executive’s duties, authority, and responsibilities may be modified by the CEO at any time, provided such duties, authority, and responsibilities are consistent with Executive’s position and not materially diminished.

   

  b.Conflict of Interest: During the Employment Term, the CEO may provide written consent and direction to Executive to provide legal or business services to Company’s subsidiaries and affiliates, including, but not limited to JanOne Inc. (“JanOne”) as part of Executive’s duties to Company. If, during the provision of business or legal services to JanOne, Executive determines, in Executive’s professional opinion, that Executive is incapable of providing the directed legal or business services to JanOne consistent with Executive’s duties and legal obligations to the Company (“Conflicting Services”), Executive may withdraw from the provision of any such Conflicting Services to JanOne. Executive’s decision as to whether to withdraw from the provision of Conflicting Services to JanOne shall be in the Executive’s sole discretion and judgement and shall be binding on both the Company and JanOne.

   

  c.Devotion of Time. During the Employment Term, Executive shall devote substantially all of Executive’s business time and attention to the performance of Executive’s duties hereunder. Executive will not engage in any other business, profession, or occupation for compensation or which would otherwise conflict or interfere with the performance of such duties, either directly or indirectly, without the prior written consent of the CEO.

   

  3.Place of Performance. Executive’s principal place of employment shall be at the Company’s headquarters in Las Vegas, Nevada. Executive shall be required to: (a) perform duties at the Company’s headquarters is Las Vegas, Nevada not less than once every six weeks, or at any other such intervals or occasions requested by the CEO; and (b) travel on Company business from time to time as directed by the CEO. At all other times, Executive may work remotely provided that doing so does not interfere with the execution of Executive’s duties under this Agreement. Further, as a condition precedent to all obligations of Company set forth in this Agreement, Executive shall commence reasonable steps to either obtain licensure by the State Bar of Nevada or otherwise obtain certifications for limited practice contemplated by Nevada Supreme Court Rule 49.1(1)(h) and the Nevada Rules of Professional Conduct. Executive shall be responsible for compliance with the applicable Nevada Rules of Professional Conduct relating to Executive’s rendering of legal services to the Company.

   

  4.Compensation and Benefits.

   

  a.Base Salary. The Company shall pay Executive an amount equivalent to an annual salary of $250,000.00, subject to customary deductions and withholdings (“Base Salary”), which the Company shall pay in periodic installments in accordance with the Company’s regular payroll practices and applicable wage payment laws.

   

  b.Annual Bonus. Executive shall be eligible to receive an annual performance bonus in an amount up to 40% of the Executive’s Base Salary reflected in Section 4(a) (“Annual Bonus”) as determined by the Board in its sole discretion. Notwithstanding the 

   

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  foregoing, a portion of the Annual Bonus may be based on objective criteria as agreed upon by the Executive and the Company’s Chief Executive Offer, and approved by the Board, in any particular calendar year. If no agreement is reached between Executive and the Company in writing within 90 days of the commencement of any year, the entire Annual Bonus for any such year shall be at the sole discretion of the Board. Executive’s receipt ofthe Annual Bonus shall be contingent upon Executive’s continued employment at Company on the date of the Annual Bonus’s payment.

   

  c.Expenses. Executive shall be entitled to reimbursement for reasonable and necessary out-of-pocket business and travel expenses (collectively, “Business Expenses”) incurred by Executive in connection with the performance of Executive’s duties, including but not limited to annual bar, certified public accountant, and in- house counsel association membership renewal and/or licensing fees. Executive is required to submit itemized receipts or invoices to the Company relating to all Business Expenses incurred by Executive within not more than 15 days from the date of incursion. Executive acknowledges and agrees that, absent Executive’s submission of itemized receipts or invoices to the Company, the Company cannot be expected to know or to have reason to know that Executive incurred Business Expenses. Expenses related to the rental of a remote office for Executive’s use shall be paid directly by the Company to the owner of such property.

   

  d.Benefits. During the Employment Term, Executive shall be entitled to participate in all executive benefit plans, practices, and programs maintained by the Company, as in effect from time to time (collectively, “Executive Benefit Plans”), beginning on the first day of the month 60 days after the Effective Date. The Company reserves the right to amend or cancel any Executive Benefit Plans at any time in its sole discretion, subject to the terms of such Executive Benefit Plan and applicable law. The terms of this Agreement and the benefits provided are specific to Executive and, as such, any benefits and compensation that may or may not be provided to other Company executives are not relevant to this Agreement.

   

  e.Vacation. During the Employment Term, Executive shall be entitled to accrue paid vacation days in accordance with the Company’s vacation policies, as in effect from time to time, except that: (i) Executive shall accrue 10 paid vacation days per year, subject to a maximum accrual cap of 15 paid vacation days; (ii) after the Agreement’s third (3rd) renewal under Section 1, Executive shall accrue 15 paid vacation days per year, subject to a maximum accrual cap of 20 paid vacation days; and (iii) after the Agreement’s eighth (8th) renewal under Section 1, Executive shall accrue 20 paid vacation days per year, subject to a maximum accrual cap of 30 paid vacation days. Executive shall receive other leaves in accordance with applicable law and the Company’s policies for executive officers, as such policies may exist from time to time. As of the Effective Date, Executive shall be deemed to have automatically accrued five paid vacation days.

   

  f.Taxes and Withholdings. All amounts payable to Executive under this Section 4 shall be subject to all required federal, state, and local withholdings, payroll deductions, and taxes and requirements under applicable laws.

   

   

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  5.Termination of Employment. The Employment Term and the Executive's employment hereunder may be terminated by either the Company or the Executive at any time and for any reason, with or without Cause; provided that, unless otherwise provided herein, either party shall be required to give the other party at least 45 days’ advance written notice of any termination of the Executive's employment. On termination of the Executive's employment during or at the

  expiration of the Employment Term, Executive shall be entitled to the compensation and benefits described in this Section 5 and shall have no further rights to any compensation or any other benefits from the Company or any of its affiliates.

   

  a.Cause. For purposes of this Agreement, “Cause” shall mean:

   

  i.the Executive’s failure to perform Executive’s duties (other than any such failure resulting from incapacity due to physical or mental illness);

   

  ii.the Executive’s engagement in dishonesty, illegal conduct, or misconduct, which is, in each case, injurious to the Company or its affiliates;

   

  iii.the Executive’s embezzlement, misappropriation, or fraud, whether or not related to the Executive’s employment with the Company;

   

  iv.the Executive’s conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude, if such felony or other crime is work-related, materially impairs the Executive's ability to perform services for the Company, or results in reputational or financial harm to the Company or its affiliates;

   

  v.the Executive’s material violation of the Company's written policies or codes of conduct, including written policies related to discrimination, harassment, performance of illegal or unethical activities, and ethical misconduct. Prior to terminating the Agreement pursuant to this Section 5(a)(v), the Company shall provide Executive written notice of the material violation and seven days to cure the material violation to the Company’s satisfaction. If cured to the Company’s satisfaction, in the sole and independent discretion of the Board, this cured material violation under this Section 5(a)(v) shall not constitute “Cause” under this Agreement;

   

  vi.the Executive’s willful unauthorized disclosure of Confidential Information (as defined below);

   

  vii.the Executive’s material breach of any material obligation under this Agreement or any other written agreement between the Executive and the Company. Prior to terminating the Agreement pursuant to 

   

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  this Section 5(a)(vii), the Company shall provide Executive written notice of the material breach and seven days to cure the material breach to the Company’s satisfaction. If cured to the Company’s satisfaction, in the sole and independent discretion of the Board, this cured material breach under this Section 5(a)(vii) shall not constitute “Cause” under this Agreement; or

  viii.the Executive’s engagement in conduct that brings or is reasonably likely to bring the Company negative publicity or into public disgrace, embarrassment, or disrepute.

   

  b.Termination by Company in First Year. The Employment Term and the Executive’s employment hereunder may be terminated by the Company for any reason during Executive’s first year of employment, with or without cause. In the event of termination by the Company without cause, Company shall provide 90 days’ advanced notice of Executive’s termination without Cause, and Executive shall provide transitional services during that 90-day advanced notice period and receive the compensation and benefits contemplated herein during such time irrespective of the without Cause termination. In the event of such termination, the Executive shall be entitled to receive the Accrued Amounts (defined below) and subject to the Executive's compliance with Sections 7 through 12 of this Agreement and the Executive’s execution of a release of claims in favor of the Company, its affiliates and their respective officers and directors in a form provided by the Company (the “Release”) and such Release becoming effective within 60 days following the Termination Date (such 60-day period, the “Release Execution Period”), the Executive shall be entitled to receive the following:

   

  i.if the Executive timely and properly elects health continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall reimburse the Executive for the monthly COBRA premium paid by the Executive for the Executive and the Executive's dependents. Such reimbursement shall be paid to the Executive on the 1st of the month immediately following the month in which the Executive timely remits the premium payment. The Executive shall be eligible to receive such reimbursement until the earliest of: (i) Executive has received reimbursement for three months of COBRA continuation coverage; (ii) the date the Executive is no longer eligible to receive COBRA continuation coverage; and (iii) the date on which the Executive becomes eligible to receive substantially similar coverage from another employer or other source.

   

  c.Expiration of the Term, Executive Initiated, For Cause After First Year. The Executive’s employment hereunder may be terminated upon either Party’s failure to renew the Agreement in accordance with Section 1, by Executive for any reason, or by the Company for Cause after Executive’s first year of employment. If the Executive’s employment is terminated upon either Party’s failure to renew the Agreement, by the Executive for any reason, or by the Company for Cause after Executive’s first year of employment, the Executive, shall be entitled to receive:

   

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  i.any accrued but unpaid Base Salary and accrued but unused vacation which shall be paid in accordance with the Company’s customary payroll procedures and applicable wage payment laws;

   

   

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  ii.notwithstanding Section 4(b), any earned but unpaid Annual Bonus with respect to any completed calendar year immediately preceding the Termination Date, which shall be paid on the otherwise applicable payment date;

   

  iii.reimbursement for unreimbursed business expenses properly incurred by the Executive, which shall be subject to and paid in accordance with the Company's expense reimbursement policy;

   

  iv.such employee benefits, if any, to which the Executive may be entitled under the Company's employee benefit plans as of the Termination Date; provided that, in no event shall the Executive be entitled to any payments in the nature of severance or termination payments except as specifically provided herein;

   

  Items in Section 5.1(c)(i) through 5.1(c)(iv) are referred to herein collectively as the “Accrued Amounts.” In the event Executive’s employment is terminated upon either Parties’ failure to renew the Agreement pursuant to Section 1, the Company shall not represent the separation as a “termination” of Executive’s employment to outside third- parties, including but not limited to Executive’s potential future employers, except as might be required by Company for purposes of enforcement of this Agreement.

   

  d.Without Cause After First Year. The Employment Term and the Executive’s employment hereunder may be terminated by the Company after Executive’s first year of employment without Cause. Company shall provide 90 days’ advanced notice of Executive’s termination without Cause, and Executive shall provide transitional services during that 90-day advanced notice period and receive the compensation and benefits contemplated herein during such time irrespective of the without Cause termination. In the event of such termination, the Executive shall be entitled to receive the Accrued Amounts, and subject to the Executive's compliance with Sections 7 through 12 of this Agreement and the Executive's execution of the “Release” and such Release becoming effective within the Release Execution Period, the Executive shall be entitled to receive the following:

   

  i.continued Base Salary for three months following the Termination Date payable in equal installments in accordance with the Company's normal payroll practices, but no less frequently than monthly, which shall commence within 10 days following the Termination Date;

   

  ii.if the Executive timely and properly elects health continuation coverage under the COBRA the Company shall reimburse the Executive for the monthly COBRA premium paid by the Executive for the Executive and the Executive's dependents. Such reimbursement shall be paid to the Executive on the 1st of the month immediately following the month in which the Executive timely remits the premium payment. The Executive shall be eligible to 

   

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  receive such reimbursement until the earliest of: (i) Executive has

   

   

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  received reimbursement for six months of COBRA continuation coverage; (ii) the date the Executive is no longer eligible to receive COBRA continuation coverage; and (iii) the date on which the Executive becomes eligible to receive substantially similar coverage from another employer or other source; and

   

  iii.notwithstanding Section 4(b), a lump sum payment equal to: (a) the Annual Bonus, if any, that Executive would have earned for the calendar year in which the Termination Date occurs based on (i) the sole discretion of the Board; and (ii) a fraction, the numerator of which is the number of days Executive was employed by the Company during the year of termination and the denominator of which is the number of days in such year (the "Pro-Rata Bonus"). Notwithstanding the forgoing and in the event of a termination without Cause by the Company after the first year, to the extent objective criteria have been agreed upon between the Executive and CEO for the year in which the Termination Date occurs and if such objective criteria were met, Executive shall receive a fraction of the portion of such Annual Bonus that is subject to the agreed upon objective criteria as calculated in the manner set forth in Section 5(d)(iii)(a)(2) above. Any such Pro-Rata Bonus shall be payable on the date that annual bonuses are paid to the Company's similarly situated executives, but in no event later than two-and-a-half (2 1/2) months following the end of the calendar year in which the Termination Date occurs.

   

  e.Death or Disability. Executive's employment hereunder shall terminate automatically on the Executive's death during the Employment Term, and the Company may terminate the Executive's employment on account of the Executive's Disability. If Executive's employment is terminated during the Employment Term on account of the Executive's death or Disability (as defined by the Company’s Long-Term Disability Plan as may be adopted and amended), the Executive (or the Executive's estate and/or beneficiaries, as the case may be) shall be entitled to receive the following:

   

  i.the Accrued Amounts;

   

  ii.notwithstanding Section 4(b), a lump sum payment equal to the Pro- Rata Bonus. Any such Pro-Rata Bonus shall be payable on the date that annual bonuses are paid to the Company's similarly situated executives, but in no event later than two-and-a-half (2 1/2) months following the end of the calendar year in which the Termination Date occurs.

   

  f.Notice of Termination. Any termination of the Executive's employment hereunder by the Company or by the Executive during the Employment Term shall be communicated by written notice of termination (“Notice of Termination”) to the other party hereto in accordance with Section 15. The Notice of Termination shall specify:

   

   

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  i.The termination provision of this Agreement relied upon;

   

  ii.To the extent applicable, the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated; and

   

  iii.The applicable Termination Date.

   

  g.Termination Date. The Executive’s “Termination Date” shall be:

   

  i.If the Company terminates the Executive’s employment hereunder for Cause, the date the Notice of Termination is delivered to the Executive;

   

  ii.If the Company terminates the Executive’s employment hereunder without Cause or if the Executive terminates Executive’s employment for any reason, the date specified in the Notice of Termination, which shall be no less than 30 days following the date on which the Notice of Termination is delivered; and

   

  iii.If the Executive’s employment hereunder terminates because either Party provides notice of non-renewal pursuant to Section 1, the Renewal Date immediately following the date on which the applicable Party delivers notice of non-renewal.

   

  6.Indemnification.

   

  a.General Obligations. In the event that the Executive is made a party or threatened to be made a party to any action, suit, or proceeding, whether civil, criminal, administrative, or investigative (a “Proceeding”), other than any Proceeding initiated by the Executive or the Company related to any contest or dispute between the Executive and the Company or any of its affiliates with respect to this Agreement or the Executive’s employment hereunder, by reason of the fact that the Executive is or was a director or officer of the Company, or any affiliate of the Company, or is or was serving at the request of the Company as a director, officer, member, employee, or agent of another corporation or a partnership, joint venture, trust, or other enterprise, the Executive shall be indemnified and held harmless by the Company to the fullest extent applicable to any other officer or director of the Company under applicable law and the Company’s bylaws from and against any liabilities, costs, claims, and expenses, including all costs and expenses incurred in defense of any Proceeding (including attorneys’ fees). For the avoidance of doubt and notwithstanding any statement to the contrary elsewhere, Executive shall be entitled to indemnification as contemplated herein and pursuant to the Company’s bylaws both while Executive is employed with the Company and after Executive ceases to be employed by the Company so long as the conditions contemplated by the bylaws are satisfied. Costs and expenses incurred by the Executive in defense of such Proceeding (including attorneys’ fees) shall be paid by the Company in advance of the final disposition of such litigation 

   

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  upon receipt by the Company of: (i) a written request for payment; (ii) appropriate

   

   

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  documentation evidencing the incurrence, amount, and nature of the costs and expenses for which payment is being sought; and (iii) an undertaking adequate under applicable law made by or on behalf of the Executive to repay the amounts so paid if it shall ultimately be determined that the Executive is not entitled to be indemnified by the Company under this Agreement.

   

  b.Clawback Provisions. Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based or other compensation paid to the Executive under this Agreement or any other agreement or arrangement with the Company which is subject to recovery under any law, government regulation, or stock exchange listing requirement will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation, or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement).

   

  7.Non-Disclosure and Non-Use of Confidentiality, Proprietary, and Trade Secret Information.

   

  a.Protection Against Disclosure. Executive acknowledges that, during the Employment Term, Executive will gain knowledge, or may gain knowledge, of and access to certain Confidential Information (as defined below in Section 7(f)). Executive agrees to undertake a fiduciary obligation to protect against the disclosure and use of any Confidential Information. Both during and after the Employment Term, Executive shall not disclose, communicate, divulge, or allow another person or entity to use to their personal, competitive, or economic advantage any Confidential Information, except where Executive has received prior written consent from the CEO or as otherwise required by law or by judicial or administrative process or order, and in that case only after complying with Section 7(b) below.

   

  b.Notifying the Company. If a person or entity not a Party to this Agreement requests or demands that Executive disclose Confidential Information or produce documents containing Confidential Information, Executive will, to the extent permitted by law, immediately notify the CEO and will provide the Company a reasonable opportunity to respond to such request or demand before Executive responds to the request or demand.

   

  c.Defend Trade Secrets Act Notice. Notwithstanding the foregoing nondisclosure obligations, pursuant to 18 U.S.C. § 1833(b), Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

   

  d.Disclosure to Government Agencies. Executive understands and acknowledges that nothing contained in this Agreement limits Executive’s ability to file a charge or complaint with the U.S. Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the

   

   

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  Securities and Exchange Commission, or any other federal, state, or local governmental agency or commission (individually, “Government Agency”; collectively, “Government Agencies”). Executive further understands and acknowledges that this Agreement does not limit Executive’s ability to communicate with any Government Agencies or to otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company.

   

  e.Other Protected Disclosures. Executive understands and acknowledges that nothing contained in this Agreement limits Executive’s ability to: (i) disclose or discuss Executive’s own wages or disclosing the wages of others who already have access to such information, or (ii) disclose information as otherwise permitted by law.

   

  f.Definition of Confidential Information. As used herein, “Confidential Information” means any Company confidential, proprietary, or trade secrets information, including, but not limited to, technical data, know-how, research, product plans and developments, prototypes, products, services, client lists, prospective clients list, client or potential client contact information, proposals, client purchasing practices, prices and pricing methodology, cost information, terms and conditions of business relationships with clients, client research and other needs, markets, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, distribution and sales methods and systems, sales and profit figures, financial information, business information, operation information, plans, personnel information, as well as reports and other business information that Executive learns of, obtains, or that is disclosed to Executive during the Employment Term. Confidential Information refers to the information belonging to Employer and is not intended as, nor should it be interpreted as: (i) a non-competition restrictive covenant between the Parties; (ii) restraining Employee from engaging in a lawful profession, trade, or business of any kind; or (iii) a restriction referring to all aspects of a particular profession, trade, or business.

   

  g.Return of Company Property. Upon any termination of this Agreement, termination of Executive’s employment, or any request by the Company, Executive shall immediately return all Company property, documents, files, records, stored data, emails, pictures, videos, laptops, computers, phones, equipment, and Confidential Information to Company.

   

  8.Inventions and Assignments. Any and all products, writings, inventions, improvements, processes, formulas, procedures, and techniques which Executive may make, conceive, discover, or develop, either solely or jointly with any other person or entity, at any time when Executive is an employee of the Company, whether or not during working hours and whether or not at the request or upon the suggestion of the Company, which relate to or are useful in connection with any business now or hereafter carried on or contemplated by the Company, including developments or expansions of its present fields of operations, shall be the sole and exclusive property of the Company. Executive shall make full disclosure to the Company of all such products, writings, inventions, improvements, processes, procedures, formula, and techniques and shall do everything necessary or desirable to vest the absolute title thereto in the Company. Executive shall write and prepare all specifications, formulas, and procedures regarding 

   

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  such

   

   

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  products, inventions, improvements, processes, procedures, and techniques and otherwise aid and assist the Company so that the Company can prepare and present applications for copyright or patent letters therefore and can secure such copyright or patent letters wherever possible, as well as reissues, renewals, and extensions thereof, and can obtain the records title to such copyright or patents so that the Company shall be the sole and absolute owner thereof in all countries in which it may desire to have copyright or patent protection. Executive shall not be entitled to any additional or special compensation or reimbursement regarding any and all such writings, inventions, improvements, formulas, processes, procedures and techniques.

   

  9.Additional Restrictive Covenants. Executive understands that the nature of Executive’s position gives Executive access to and knowledge of Confidential Information and places him in a position of trust and confidence with the Company. Executive further understands and acknowledges that the Company ability to reserve these for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company, and that improper use or disclosure by Executive is likely to result in unfair or unlawful competitive activity. Executive acknowledges and agrees that Executive owes the Company a duty of loyalty. Accordingly, Executive acknowledges and agrees:

   

  a.Definitions. For purposes of this Section 9, the following definitions shall

   

   

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  apply:

  

   

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  i.“Similar Business” shall mean the same business as the Company and its subsidiaries, including but not limited to, businesses involved in flooring manufacturing, steel manufacturing, and the retail sale of new and used movies, music, collectibles, comics, books, games, game systems and components.

   

  ii.“Prohibited Activity” shall mean both: (1) any activity in which Executive as an employee, employer, owner, operator, manager, advisor, consultant, agent, partner, director, stockholder, officer, volunteer, intern, or in any other similar capacity for any entity engaged in Similar Business, performs services and/or tasks similar to those performed for the Company regardless of whether such performance is direct or indirect, or in whole or in part; and (2) any activity that may require or inevitably require disclosure of any of the Company’s trade secrets, proprietary information, and/or other confidential information.

   

  iii.“Territory” shall mean both: (1) any city in which Executive actually performed services, including, but not limited to the Duties set forth in Section 2(a) at any time during the 12-month period immediately preceding the end of Executive’s employment (the “Cities”); and (2) the geographical area within a 100-mile radius of those Cities.

   

  iv.“Restricted Period” shall mean the 12-month period immediately following the last day of Executive’s employment with the Company.

   

   

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  b.Non-Competition and Non-Solicitation During Employment. During the Employment Term, Executive shall not directly or indirectly:

   

  i.perform work, or assistance in the performance of work, for any entity, third party, or person (including Executive) in the same business, industry, or profession as the Company or the Company’s affiliates, subsidiaries, parent companies, or related companies (collectively, the “Company and the Related Companies”);

   

  ii.solicit or encourage the Company or the Related Companies’ current or prospective customers or clients to terminate, curtail, or withdraw their current or prospective business relationship or contract with the Company or the Related Companies;

   

  iii.solicit or encourage the Company or the Related Companies’ current or prospective customers or clients to do business with any other person or entity separate from the Company or the Related Companies;

   

  iv.solicit or encourage any of the Company or the Related Companies’ employees to leave their employment with the Company or the Related Companies, terminate their employment agreement or relationship with the Company or the Related Companies, or breach their employment obligations or duties owed to the Company or the Related Companies;

   

  v.discourage any applicant for employment with the Company or the Related Companies to decline to apply for, interview for, or accept employment with the Company or the Related Companies;

   

  vi.solicit or encourage any of the Company or the Related Companies’ current or prospective independent contractors, service providers, suppliers, or vendors to terminate their current or prospective contractual or business relationship with the Company or the Related Companies or to breach their obligation or duties owed to the Company or the Related Companies; or

   

  vii.enable or otherwise facilitate any manner of unfair competition for which the Company or the Related Companies may bring a complaint, cause of action, charge or claim under applicable law.

   

  c.Post-Employment Non-Competition and Non-Solicitation. Executive understands and agrees that Executive shall not, as an employee, employer, owner, operator, manager, advisor, consultant, agent, partner, director, stockholder, officer, volunteer, intern, or in any other similar capacity, either directly or through others:

   

   

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  i.Following a termination by Company for Cause or termination initiated by Executive, engage in any Prohibited Activity within the

   

   

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  Territory during the Restricted Period; provided, however, that nothing in this Agreement shall prohibit Executive from purchasing or owning the publicly traded securities of any entity, where such ownership represents a passive investment and where Executive is not a controlling person of, or a member of a group that controls, the entity.

   

  ii.Solicit, induce, encourage or participate in soliciting, inducing, or encouraging any employee, contractor, staff, or agent of the Company to terminate his or her relationship with the Company, whether for purposes of interview, recruitment, hiring, or other retention, within the Territory during the Restricted Period.

   

  iii.Solicit business from, or enter into a business relationship or transaction with, any person or entity that has or has had a business relationship with the Company at any point during Executive’s employment (including but not limited to customers and business partners) on behalf of any person or entity other than the Company within the Territory during the Restricted Period.

   

  d.Acknowledgement of Legitimate Business Interest. Executive understands and agrees that the restrictive covenants set forth in Section 9(c) are reasonable and necessary to protect the Company’s interests in light of the complexity of Executive’s role, the time necessary to train and demonstrate competence of any successor to Executive’s role, and to reestablish any good will lost through Executive’s departure.

   

  e.Intent and Reformation. The Parties hereby express their intent for the maximum scope, geographic area, and duration such court would deem reasonable and enforceable in relation to Section 9(c), and that such court is hereby granted the authority to revise, reform, and/or rewrite the restrictive covenants in Section 9(c) to achieve that expressed intent of the Parties.

   

  10.Cooperation with the Company. The Parties agree that certain matters in which Executive will be involved during the Employment Term may necessitate Executive’s cooperation in the future. Accordingly, following the termination of Executive’s employment for any reason, Executive shall cooperate with the Company regarding any complaint, grievance, charge, claim, or allegation relating to any lawsuit, action, investigation, or audit that (a) is brought by or against the Company and (b) is directly or indirectly related to Executive’s employment with the Company.

   

  11.No Cooperation Against the Company. Executive agrees that Executive will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, claims, causes of action, complaints, grievances, charges, actions, petitions, and demands (collectively, “Claims”; individually, a “Claim”) by any third party or Person against the Company and Related Companies, unless under a subpoena or other court order to do so, and except as otherwise provided in Section 7(c) and 7(d). Executive agrees both to 

   

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  immediately notify Company (pursuant to Section 15 below) upon receipt of any such subpoena

   

   

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  or court order relating to the Company and Related Companies, and to furnish, within three business days of its receipt, a copy of such subpoena or other court order.

   

  12.Non-Disparagement. Both during and after the Executive’s Employment with the Company, Executive shall refrain from any disparagement, defamation, libel, or slander of any of the Company and Related Companies and agrees to refrain from any tortious interference with the contracts and relationships of any of Company and Related Companies.

   

  13.Equitable Remedies. Executive acknowledges and agrees that the Company and Related Companies would be irreparably damaged in the event that any provision of this Agreement were breached and that money damages would be an inadequate remedy for any such nonperformance or breach. Executive agrees that, to the extent permissible under applicable law, the Company and Related Companies shall be entitled, in addition to all other rights and remedies existing in their favor, to obtain injunctive or other equitable relief (including a temporary restraining order, a preliminary injunction, and a final injunction) against Executive to prevent any actual or threatened breach of any of such provisions and to enforce such provisions specifically in any court of the United States or any state having jurisdiction, without the necessity of posting a bond or other security or of proving actual damages.

   

  14.Arbitration. The Parties agree that:

   

  a.Scope. Except for Excluded Claims (as defined below in Section 14(h)), any and all Claims arising out of, concerning, regarding, or relating to the terms of this Agreement, Executive’s employment with the Company, the separation of Executive from employment with the Company, or the Executive’s relationship with the Company and Related Companies shall be subject to arbitration in Las Vegas, Nevada before JAMS, pursuant to the then-existing version of the JAMS Employment Arbitration Rules & Procedures (“JAMS Rules”). The Parties can obtain a copy of the JAMS Rules (i) on the JAMS’ website (https://www.jamsadr.com/rules-employment) or (ii) by calling JAMS directly at (800) 352-5267.

   

  b.Arbitrability. The arbitrator, not a court, will determine issues of arbitrability or waiver of arbitrability. The Parties waive any right to have a court determine issues of arbitrability.

   

  c.Arbitrator’s Authority. The arbitration will be before a neutral arbitrator, who shall have the power to decide, among other things, any motions brought by any Party, including discovery motions, motions for sanctions, motions for summary judgment and/or adjudication, motions to dismiss, and demurrers, applying the standards of the Nevada Rules of Civil Procedure. The arbitrator may also grant injunctions and all other types of relief the Parties would otherwise be available in court. Although the Parties shall be entitled to more than minimal discovery; however, the arbitrator also shall have the authority to order discovery, by way of deposition, interrogatory, document production, or otherwise, as the arbitrator considers necessary to a full and fair exploration of the issues in dispute, consistent with the expedited nature of arbitration.

   

   

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  d.Timing. The arbitrator shall issue the arbitration decision (and, if applicable, award) within 180 days of a Party initiating arbitration as set forth in this Section 14 or a Party issuing its arbitration demand, whichever comes sooner.

   

  e.Final and Binding Arbitration. The arbitrator shall issue a written final decision or award on the merits. The Parties agree that the decree or award rendered by the arbitrator may be entered as a final and binding judgment in any court having jurisdiction thereof. The Parties further agree that that the prevailing party in any arbitration shall be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award.

   

  f.Injunctive Relief. Notwithstanding the foregoing, this Section 14(f) will not prevent either Party from seeking injunctive relief (or any other provisional remedy) from any court having jurisdiction over the Parties and the subject matter of their Claim relating to this Agreement and the agreements incorporated herein by reference.

   

  g.Class Action Waiver. Except for Excluded Claims (as defined below in Section 14(h)), the Parties intend and agree that (i) class action, collective action, and representative action procedures are hereby waived and shall not be asserted, nor will they apply, in any arbitration pursuant to this Agreement; (ii) each Party will not assert class action, collective action, or representative action claims against the other Party in arbitration or otherwise; and (iii) the Parties shall only submit their own, individual Claims in arbitration and will not seek to represent the interests of any other person or entity. To the extent the Parties’ Claims involve both timely filed Excluded Claims and Claims subject to arbitration under this Agreement, the Parties agree to bifurcate Excluded Claims from Claims subject to arbitration and stay the Excluded Claims for the duration of the arbitration proceedings.

   

  h.Excluded Claims. “Excluded Claims” are causes of action or claims: (i) under Section 7 of the National Labor Relations Act, (ii) for unemployment compensation benefits; (iii) for benefits under a plan that is governed by the Employee Retirement Income Security Act of 1974, (iv) subject to the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act; or (v) expressly prohibited from mandatory arbitration under applicable law.

   

  i.Arbitration Costs and Fees. With respect to costs associated with the arbitration under this Section 14, Executive shall only pay the JAMS filing or administrative fee up to the equivalent amount of the initial filing Executive would have paid to commence an action in the Nevada District Court, Eighth Judicial District, Clark County. The Company will pay any other JAMS administrative fees, arbitrator’s fees, and any additional fees unique to arbitration.

   

  j.Attorneys’ Fees for Motion to Compel Arbitration. A Party who is forced to file a motion or petition to compel arbitration of a dispute arising under this Agreement may recover attorneys’ fees incurred in making the successful motion or petition.

   

   

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  k.Operative Arbitration Agreement. Should any part of this Section 14 conflict with any other arbitration agreement between the Parties, whether written, oral, or implied, the Parties agree that this Section 14 in this Agreement shall govern.

   

  15.Method of Providing Notice. Notices and all other communications provided for in this Agreement shall be in writing and shall be delivered (a) personally or sent by registered or certified mail, return receipt requested, or by overnight carrier to the Parties at the addresses set forth below and (b) by email to the email addresses set forth below:

  a.Company. If to the Company: Jon Isaac

  President and Chief Executive Officer Live Ventures Incorporated

  325 E. Warm Springs Road, Suite 102 j.isaac@isaac.com

  b.Executive. If to the Executive: Wayne Ipsen

  13001 W. Woodspring St. Boise, ID 83713 wayne.ipsen@gmail.com

   

  16.Authority. Company represents and warrants that the undersigned has the authority to act on behalf of both of the Company and to bind Company and all who may claim through them to the terms and conditions of this Agreement. Executive represents and warrants that Executive has the capacity to act on Executive’s own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement.

   

  17.No Representations. Executive represents that Executive has had an opportunity to consult with an attorney and has carefully read and understands the scope and effect of the provisions of this Agreement. Executive has not relied upon any representations or statements made by Company that are not specifically set forth in this Agreement.

   

  18.Severability. In the event that a court of competent jurisdiction, arbitrator, or other judicial tribunal declares or finds that any provision or portion of the Agreement is illegal, unenforceable, or void, the Agreement shall continue in full force and effect without said provision or portion of provision. To the extent permitted by law, a court of competent jurisdiction, arbitrator, or other judicial tribunal may blue-pencil or interpret the language of a provision in this Agreement in accordance with the Parties and in compliance with applicable law.

   

  19.Fees and Costs. In the event that either Party brings an action to enforce or affect its rights under this Agreement, the prevailing Party shall be entitled to recover its costs and expenses, including the costs of mediation, litigation, court fees, and reasonable attorneys’ fees incurred in connection with such an action (“Fees and Costs”). Specifically, unless otherwise prohibited by applicable law, an arbitrator, court, governmental agency, or other judicial tribunal shall (i) award 

   

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  Fees and Costs to the prevailing Party of an arbitration under this Agreement and

   

   

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  (ii) award Fees and Costs to the prevailing Party in the event any legal action or arbitration is commenced of any kind or character to enforce the provisions of this Agreement or to obtain damages for a breach thereof.

   

  20.Mutual Drafting. Each Party has participated, or had the right to participate, in the drafting, negotiation, and preparation of this Agreement. The Parties expressly waive any Claim, rule of law, contention, or argument that would require ambiguities in this Agreement to be interpreted or construed against the Party that drafted the Agreement.

   

  21.Complete Integration; Entire Agreement. This Agreement and Executive’s employment hereunder is conditioned upon Executive’s review, acknowledgement of, and compliance with the policies set forth in the Company’s employee handbook, as amended from time to time, and Executive’s execution and delivery of the Company’s arbitration agreement, work-for-hire agreement, and confidentiality agreement (collectively, the “Personnel Documents”), copies of which the Company will provide Executive following Executive’s execution and delivery of this Agreement. This Agreement, along with the Personnel Documents, represents the entire agreement and understanding between Company and Executive concerning the subject matter of this Agreement and Executive’s employment with the Company, and supersedes and replaces any and all prior agreements, promises, representations, and understandings concerning the subject matter of this Agreement and Executive’s employment with Company, except as subsequently modified pursuant to Section 22. No extrinsic evidence whatsoever may be introduced in any judicial proceedings or arbitration involving the Parties’ intent in this Agreement.

   

  22.No Oral Modification. This Agreement shall only be amended in a writing signed by both Executive and Chief Executive Officer.

   

  23.Governing Law. This Agreement shall be governed by the laws of the State of Nevada, without regard for choice-of-law provisions. For any Claim or action not covered in or subject to Section 14, Executive consents to personal and exclusive jurisdiction and venue in the Nevada District Court, Eighth Judicial District, Clark County.

   

  24.Section Headings. Section headings used in this Agreement are for convenience of reference only and shall not affect the meaning of any provision of this Agreement.

   

  25.Counterparts. This Agreement may be executed in counterparts, each of which shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. The Parties also understand and agree that a facsimile, electronic signature, or digital signature shall be deemed an original signature for purposes of this Agreement.

   

   

  [Remainder of Page Intentionally Blank; Signature Page Follows]

   

   

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  26.Voluntary Execution of Agreement. Executive understands and agrees that he executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of Company or any third party. Executive acknowledges that:

   

  a.Executive has read this entire Agreement;

   

  b.Executive has been or has had the right to be represented in the preparation, negotiation, and execution of this Agreement by legal counsel of Executive’s own choice or has elected not to retain legal counsel;

   

  c.Executive understands the terms and consequences of this Agreement; and

   

  d.Executive is fully aware of the legal and binding effect of this Agreement.

   

  IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date written below.

   

  Wayne Ipsen, an individual

   

   

  Dated: October 24, 2022		

   

  Wayne Ipsen

   

   

   

  Live Ventures Incorporated

   

   

  Dated: October 24, 2022	By 	

   

  Jon Isaac

  President and Chief Executive Officer

   

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