Document:

Exhibit

Exhibit 10.1

                                    

PERFORMANCE UNIT GRANT 
AWARD AGREEMENT

This AGREEMENT (“Agreement”) is made as of February 19, 2020, by and between Service Corporation International, a Texas corporation (the “Company”), and                          (the “Employee”).
WHEREAS, the Compensation Committee (“Compensation Committee”) of the Board of Directors of the Company has determined that it is to the advantage and interest of the Company to grant to the Employee the performance units grant provided for herein in consideration of services provided by the Employee and to provide focus on the longer-term success of the Company.
NOW, THEREFORE, the Company and the Employee hereby agree as follows:
		
	1.
	Grant of Award.  

a.Pursuant to the Company’s Amended and Restated 2016 Equity Incentive Plan (“Plan”), the Employee is hereby granted as of January 1, 2020, a Performance Unit Grant Award (the “Award”), subject to the terms and conditions set forth below, with respect to              performance units (“Units”).  
b.Each Unit shall have a value equal to the value of one share of the Company’s common stock. 
c.If a dividend is paid on the Company’s common stock during the Performance Cycle, the number of Units listed above shall be increased on the dividend payment date by (i) multiplying the per share dividend amount by the number of Units credited under this Agreement on the dividend payment date, and (ii) dividing that amount by the value of a share of the Company’s common stock on the dividend payment date. 
d.If the Units covered by this Award become vested in accordance with Section 2 below, the Employee will be entitled to receive, net of applicable withholding or applicable social security taxes, a cash payment representing the product of (i) the value of a share of the Company’s common stock on the date of approval of the payment by the Compensation Committee, multiplied by (ii) the number of Units vested, multiplied by (iii) the Performance Settlement Factor as determined using Exhibit A, attached hereto and made a part of this Agreement.  
e.If the Award becomes vested and payable, the Award will be paid to the Employee as soon as practicable after the end of the Performance Cycle, but no later than March 15, 2023.
2.Vesting.  If the Employee is employed by the Company (or any Affiliate thereof) continuously during the Performance Cycle and through the payment date for the Award, as described in Section 1(e) above (the “Payment Date”), the Award will vest 100% on the Payment Date.  Except as provided below, this Award shall terminate, and all of the Employee’s rights hereunder shall be forfeited, if the Employee is not employed on the Payment Date.
a.Death, Disability and Termination by the Company without Cause.  In the event of the termination of the Employee’s employment with the Company (or any Affiliate thereof) prior to the Payment Date due to the Employee’s death, Disability or termination by the Company (or an Affiliate thereof) without cause (as that term is defined in Employee’s employment agreement with an Affiliate of Company, 

or if none, as determined by the Company in its reasonable discretion), a pro-rata portion of the Award will vest, as determined in accordance with the following calculation:  The number of Units under the Award to be vested is determined by the number of active months of employment by the Employee during the Performance Cycle divided by 36 (which is the number of months in the “Performance Cycle” as set forth in Exhibit A).
b.Retirement.  In the event of the termination of the Employee’s employment with the Company (or any Affiliate thereof) prior to the to the Payment Date due to the Employee’s retirement on or after attainment of age 60 with ten (10) years of service, or retirement on or after attainment of age 55 with twenty (20) years of service, the Award will vest, if the Compensation Committee, in its sole discretion, acting by meeting or unanimous consent occurring prior to the effective date of the Employee’s retirement, causes the Award to vest, in which event the Award will fully vest without prorating regardless of the number of months remaining in the Performance Cycle.
c.Change of Control.  In the event of a Change of Control of the Company during the Performance Cycle, the Award will be fully vested and paid at the Target amount set forth on Exhibit A.  Any payment under this Section 2(c) shall be made on the date Change in Control occurs.
Notwithstanding any provision of this Agreement or any other agreement between the Employee and the Company, in the event of a termination of the Employee’s employment with the Company (or any Affiliate thereof) by the Company for cause (as described above), or if the Employee terminates his or her employment with the Company (or any Affiliate thereof) for any reason, any unpaid Award shall be forfeited in its entirety and will not be paid. 
3.Transfer Restrictions.  This Award is non-transferable other than by will or by the laws of descent and distribution, and may not otherwise be assigned, pledged or hypothecated and shall not be subject to execution, attachment or similar process.  Upon any attempt by the Employee (or the Employee’s successor in interest after the Employee’s death) to effect any such disposition, or upon the levy of any such process, the Award may immediately become null and void, at the discretion of the Compensation Committee.
4.Tax.  The Employee will pay any and all Federal, state or local income tax and all associated employment taxes (FICA) when the Award is paid.
5.Miscellaneous.  This Agreement (i) shall be binding upon and inure to the benefit of any successor of the Company, (ii) shall be governed by the laws of the State of Texas and any applicable laws of the United States, and (iii) may not be amended without the written consent of both the Company and the Employee.  No contract or right of employment shall be implied by this Agreement. 
6.Incorporation of Plan Provisions. This Award and the terms and conditions herein set forth are subject in all respects to the terms and conditions of the Plan, which shall be controlling and are incorporated herein by reference.  Capitalized terms not otherwise defined herein (inclusive of Exhibit A) shall have the meanings set forth for such terms in the Plan.
7.IRC §409A Compliance.  Notwithstanding the applicable provisions of this Agreement regarding timing of distribution of payments, the following special rules shall apply in order for this Agreement to comply with IRC §409A: (i) to the extent any distribution is to a “specified employee” (as defined under IRC §409A) and to the extent such applicable provisions of IRC §409A require a delay of such distributions by a six month period after the date of such Employee’s separation of service with the Company, the provisions of this Agreement shall be construed and interpreted as requiring a six month delay in the commencement of such distributions thereunder.
To the extent of any compliance issues under IRC §409A, the Agreement shall be construed in such a manner so as to comply with the requirements of such provision so as to avoid any adverse tax consequences to the Employee.

8.Payment Limitations.  Notwithstanding anything herein to the contrary, the following limitations shall apply to any calculation of payments under this Agreement:
a.If the Company’s TSR for the Performance Cycle is negative, the Performance Settlement Factor used to calculate the Award payment shall not exceed the Target amount set forth in Section B of Exhibit A.  
b.If the Company’s TSR ranking for the Performance Cycle is below the 25th percentile of the TSR of the peers in the Comparator Group, then no payment shall be made under this Agreement.
c.If the Company’s Annualized ROE for the Performance Cycle is less than fifteen percent (15%), then the amount that would otherwise have been paid under Section 1(d) of this Agreement shall be reduced by twenty-five percent (25%).  
9.Clawback.  If (i) the Employee is a Company officer at or above the level of Vice President at the date of this Agreement, and (ii) it is determined that the Employee has engaged in fraud that causes, in whole or in part, a material adverse restatement of the Company’s financial statements, then any unpaid Award shall be forfeited in its entirety.  In addition, if (A) an Award has been paid under this Agreement prior to the time of such determination, and (B) the payment occurred at any time after the ending date of the period covered by the incorrect financial statements, then the Employee must repay the Company the entire amount of his or her Award payment.  Any determination by the Board of Directors with respect to the foregoing shall be final, subject however to the right of the Employee to contest such determination in any court of competent jurisdiction.  The Company agrees to pay promptly as incurred all legal fees and expenses which the Employee may reasonably incur as a result of any such contest; provided however, if the Employee does not prevail in such contest, the Employee will reimburse the Company for all such legal fees and expenses.  As used herein, the term “fraud” shall mean the act of knowingly making a false representation of a material fact with the intent to deceive.
10.Binding Effect.  This Agreement shall be effective only if executed by the Company (by manual, electronic, typed, stamped or facsimile signature), recorded as a performance unit grant in the minutes of the committee administering the Plan and manually signed by the Employee.  This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under the Employee.
[Signature Page Attached]

IN WITNESS HEREOF, the Employee and the Company have executed this Performance Unit Grant Award as of the day and year first above written.

EMPLOYEE                                                     Service Corporation International

    
                                                                                    /s/ Gregory T. Sangalis
_________________________________       _________________________________
[Signature]                                                       Name:      Gregory T. Sangalis
                                                                         Title:        Senior Vice President
                                   General Counsel and Secretary

Exhibit A

Calculation of Performance Settlement Factor

The Performance Settlement Factor used to determine the amount payable under the Performance Unit Award described in the attached Performance Unit Grant Award Agreement, dated as of February 19, 2020, between Service Corporation International, a Texas corporation (the “Company” or “SCI”), and all of its Affiliates and the Employee, shall be calculated as provided in this Exhibit A.
		
	A.
	Definitions.  For purposes of this Award, the following definitions will control:

		
	•
	“Adjusted Average Equity” means Adjusted Prior Year Equity, plus Adjusted Current Year Equity, divided by 2. An adjusting entry in excess of $50 million may be carried forward to avoid distortion in the Return on Equity calculation during each year of the Performance Cycle.

		
	•
	“Adjusted Current Year Equity” means Total Stockholder Equity, less accumulated Other Comprehensive Income as set forth in the Company’s Consolidated Balance Sheet, and excluding non-recurring items in both the current and prior fiscal years. 

		
	•
	“Adjusted Prior Year Equity” means Total Stockholder Equity, as set forth in the Company’s Consolidated Balance Sheet, and excluding non-recurring items in the prior fiscal year.

		
	•
	“Adjusted Net Income from Continuing Operations” means the Company’s consolidated net income from continuing operations, as determined under U.S. Generally Accepted Accounting Principles, for the fiscal year, as reported in the Company’s financial statements utilizing the forecasted normalized effective tax rate, which may be adjusted to exclude the following items:

		
	1.
	Significant litigation costs and/or settlements.

		
	2.
	Special accounting, tax or restructuring charges.

		
	3.
	The cumulative effect of changes in accounting or tax principles.  

		
	4.
	An extraordinary gain or loss or correction of an error.

		
	5.
	All gains, losses or impairment charges recorded in association with the sale or potential sale of a business and/or real estate or any impairment(s) related to the evaluation of goodwill, intangible assets, long-lived assets or loss contracts.

		
	6.
	Charges relating to the opening, closing, or relocation of subsidiaries or other overhead centers. 

		
	7.
	The gain or loss associated with the early extinguishment of debt or other debt restructuring charges.

		
	8.
	Accounting and/or tax charges relating to acquisitions and dispositions, system conversions and/or implementations, settlement or termination of pension obligations, and transitions or terminations of major vendors and/or suppliers of the Company.

		
	9.
	Currency gains or losses. 

		
	•
	“Annualized ROE” means the product of (i) the sum of the Return on Equity for each fiscal year during the Performance Cycle, divided by (ii) three. 

		
	•
	“Award” is a grant of Units as approved by the Compensation Committee.  The number Units subject to the Award shall be increased, as provided in Section 1(c) of the Agreement, to reflect the deemed reinvestment of dividends during the Performance Cycle.

		
	•
	“Comparator Group” is defined as the publicly traded U.S. companies which are included in the reference group as documented in the 2020 Compensation Committee’s records and which are in existence at the end of the Performance Cycle.

		
	•
	“Compensation Committee” means the Compensation Committee of the Board of Directors of Service Corporation International.

		
	•
	“IRC §409A” means Section 409A of the Internal Revenue Code of 1986, as amended.

		
	•
	“National Exchange” is defined as the New York Stock Exchange (NYSE) or the National Association of Stock Dealers and Quotes (NASDAQ).

		
	•
	“Plan Administrator” is Compensation Committee, which may delegate certain elements of administrative responsibility to the Company’s CEO or appropriate members of his staff.  Any performance goals, performance standards and award determinations must be approved by the Compensation Committee.

		
	•
	“Performance Cycle” is defined as the three-year period beginning December 31, 2019 and ending December 31, 2022.

		
	•
	“Performance Settlement Factor” is the applicable percentage set forth in Section B below, which shall be applied to the number of vested units based on the Company’s relative TSR ranking within the Comparator Group, as interpolated.  

		
	•
	“Return on Equity” shall be calculated for each fiscal year during the Performance Cycle by dividing (i) the Company’s Adjusted Net Income from Continuing Operations, for the fiscal year, by (ii) the Adjusted Average Equity for such fiscal year.  

		
	•
	“Total Shareholder Return” (TSR) is defined as the rate of return reflecting stock price appreciation plus reinvestment of dividends over the Performance Cycle.  Specifically, TSR will be calculated using the following provisions: $100 invested in SCI stock on the first day of the Performance Cycle, with dividends reinvested on each applicable payment date, compared to $100 invested in each of the peer companies in the Comparator Group, with dividend reinvestment on each applicable payment date during the same period.  For purposes of this calculation, any determination of reinvested dividends shall be calculated as the sum of the total dividends paid on one share of stock during the Performance Cycle, assuming reinvestment of such dividends in such stock (based on the closing stock price of such stock on the applicable dividend payment date).  For the avoidance of doubt, it is intended that the foregoing calculation of reinvested dividend amount shall take into account not only the reinvestment of dividends in a share of stock but also capital appreciation or depreciation in the shares of stock deemed acquired by such reinvestment.

		
	•
	“Unit” is a performance unit which shall have a value equal to the closing price of a share of the Company’s common stock.  

		
	B.
	Performance Unit Awards Settlement Criteria:

	
			
	SCI Weighted Average Total Shareholder Return Ranking Relative to Comparator Group at End of Performance Cycle
	Ranking
	% of Target Award Paid as Incentive
(Performance Settlement Factor)

	Maximum
	75th% or greater
	200%

	 
	70th%ile
	180%

	 
	65th%ile
	160%

	 
	60th%ile
	140%

	 
	55th%ile
	120%

	Target
	50th%ile
	100%

	 
	45th%ile
	85%

	 
	40th%ile
	70%

	 
	35th%ile
	55%

	 
	30th%ile
	40%

	Threshold
	25th%ile
	25%

	Below Threshold
	Less than 25th%ile 
	0%

		
	•
	Calculation of awards for performance levels between Target and Maximum, or Threshold and Target will be calculated using straight-line interpolation.

		
	•
	If mergers and acquisitions result in a reduction in the number of peer group companies during the cycle, these percentile rankings will reflect the Comparator Group companies still intact at the end of the Performance Cycle.

		
	•
	As provided in Section 8(a) of the Agreement, in the event SCI’s TSR is negative at the end of the Performance Cycle, no payment hereunder will exceed the Target in the schedule above.

		
	•
	As provided in Section 8(c) of the Agreement, in the event SCI’s Annualized ROE for the Performance Cycle is less than fifteen percent (15%), as calculated at the end of the Performance Cycle, the amount payable in settlement of the Units shall be reduced by twenty-five percent (25%).

		
	•
	The Compensation Committee shall have the reasonable discretion to interpret or construe ambiguous, unclear or implied terms applicable to this Agreement, and to make any findings of fact necessary to make a calculation or determination hereunder. 

		
	•
	A decision made in good faith by the Compensation Committee shall govern and be binding in the event of any dispute regarding a method of calculation of performance or a determination of vesting or forfeiture in connection with the Award or this Agreement.Exhibit 10.01

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE AGREEMENT this
(“Agreement”), dated as of April 23, 2020, by and among Mountain High Acquisitions Corp., a Colorado corporation
(the “Company”), and Trilogy Capital LLC (“Purchaser”).

WHEREAS, subject to the terms and conditions
of this Agreement, Purchaser desires to purchase shares of the Company's Common Stock (the “Stock” or Securities");
and

WHEREAS, subject to the terms and conditions
set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities
Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell to Purchaser, and Purchaser desires
to purchase from the Company, securities of the Company as more fully described in this Agreement.

NOW, THEREFORE, IN CONSIDERATION of the
mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Company and Purchaser agree as follows:

 

ARTICLE
1

PURCHASE AND SALE OF SHARES

Section
1.1         Purchase and Sale of Shares.
Upon the following terms and conditions, the Company shall issue and sell to Purchaser, and Purchaser shall purchase from the Company
11,750,000 shares of Common Stock (the “Shares”) at a purchase price of $0.008 for each Share for an aggregate
purchase price of $94,000.

The Company and Purchaser are executing
and delivering this Agreement in accordance with and in reliance upon the exemption from securities registration afforded by Section
4(a)(2) of the Securities Act, and the rules and regulations promulgated thereunder, including Regulation D (“Regulation
D”), and/or upon such other exemption from the registration requirements of the Securities Act as may be available with
respect to any or all of the investments to be made hereunder.

Section
1.2         Purchase Price and Closing.
The Company agrees to issue and sell to Purchaser and, in consideration of and in express reliance upon the representations, warranties,
covenants, terms and conditions of this Agreement, Purchaser agrees to purchase the Shares. The closing (the “Closing”)
of the purchase and sale of the Shares to be acquired by Purchaser from the Company under this Agreement shall take place as soon
as practicable, provided, that all of the conditions set forth in Article IV hereof and applicable to the Closing shall
have been fulfilled or waived in accordance herewith. The Purchase Price payable by Purchaser shall be payable in cash, by wire
transfer or in immediately available funds.

 

ARTICLE
2

REPRESENTATIONS AND WARRANTIES

Section
2.1         Representations and Warranties
of the Company. In order to induce Purchaser to enter into this Agreement and to purchase the Shares, the Company hereby makes
the following representations and warranties to Purchaser, as applicable:

(a)           
Organization, Good Standing and Power. The Company is a corporation duly incorporated, validly existing and in good
standing under the laws of the State of Colorado and has the requisite corporate power to own, lease and operate its properties
and assets and to conduct its business as it is now being conducted. Other than MYHI-AZ Corp and ONE LAB CO, the Company does not
have any subsidiaries or own securities of any kind in any other entity. The Company is duly qualified as a foreign corporation
to do business and is in good standing in every jurisdiction in which the nature of the business conducted or property owned by
it makes such qualification necessary, except for any jurisdiction(s) (alone or in the aggregate) in which the failure to be so
qualified will not have a Material Adverse Effect. For the purposes of this Agreement, “Material Adverse Effect”
means any adverse effect on the business, operations, properties, prospects or financial condition of the Company which is material
to such entity or other entities controlling or controlled by such entity or which is likely to materially affect the Company’s
business or hinder the performance by the Company of its material obligations hereunder and under the other Transaction Documents
(as defined in Section 2.1(b) hereof).

(b)          
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and perform
this Agreement, the Amendment to the Company’s Articles of Incorporation setting forth the preferences, rights and limitations
of the Shares which will be filed by the Company with the Secretary of State of Colorado substantially in the form attached hereto
as Exhibit A (the “Amendment”) in connection with the closing of the purchase by Purchaser of the Shares,
and the other agreements and documents contemplated hereby and thereby and executed by the Company or to which the Company is party
(collectively, the “Transaction Documents”), and to issue and sell the Shares in accordance with the terms hereof.
The execution, delivery and performance of the Transaction Documents by the Company and the consummation by it of the transactions
contemplated thereby have been duly and validly authorized by all necessary corporate action, and no further consent or authorization
of the Company, the Company’s board of directors (the “Board of Directors”) or its stockholders is required.
This Agreement has been duly executed and delivered by the Company. The other Transaction Documents will have been duly executed
and delivered by the Company at or prior to the Closing. Each of the Transaction Documents constitutes, or shall constitute when
executed and delivered, a valid and binding obligation of the Company enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, reorganization, moratorium, liquidation, conservatorship,
receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by
other equitable principles of general application.

(c)           
Capitalization. The authorized capital stock of the Company and the shares thereof issued and outstanding as of December
31, 2019, are set forth on Schedule 2.1(c) hereto. All of the outstanding shares of the Company’s Common Stock and any other
security of the Company have been duly and validly authorized. No shares of Common Stock or any other security of the Company are
entitled to preemptive rights or registration rights and there are no outstanding options, scrip, rights to subscribe to, call
or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of
the Company. Furthermore, except as set forth on Schedule 2.1(c) hereto, there are no contracts, commitments, understandings, or
arrangements by which the Company is or may become bound to issue additional shares of the capital stock of the Company or options,
securities or rights convertible into shares of capital stock of the Company. Except for customary transfer restrictions contained
in agreements entered into by the Company in order to sell restricted securities or as provided on Schedule 2.1(c) hereto, the
Company is not a party to or bound by any agreement or understanding granting registration or anti-dilution rights to any individual
or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint
stock company, government (or an agency or subdivision thereof) or other entity of any kind (each, a “Person”)
with respect to any of its equity or debt securities. The Company is not a party to, and it has no knowledge of, any agreement
or understanding restricting the voting or transfer of any shares of the capital stock of the Company. The offer and sale of all
capital stock, convertible securities, rights, or options of the Company issued prior to the Closing complied with all applicable
federal and state securities laws, and no holder of such securities has a right of rescission or claim for damages with respect
thereto which could have a Material Adverse Effect.

(d)          
Issuance of Securities. The Shares have been duly authorized by all necessary corporate action and, when paid for
or issued in accordance with the terms hereof, the Shares shall be validly issued and outstanding, fully paid and nonassessable
and free and clear of all liens, encumbrances and rights of refusal of any kind.

(e)           
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby do not and will not (i) violate any provision of the Articles
or Bylaws, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, mortgage, deed of
trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company is a party or by which the
Company’s respective properties or assets are bound, (iii) create or impose a lien, mortgage, security interest, charge or
encumbrance of any nature on any property or asset of the Company under any agreement or any commitment to which the Company is
a party or by which the Company is bound or by which any of their respective properties or assets are bound, or (iv) result
in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree (including federal
and state securities laws and regulations) applicable to the Company or by which any property or asset of the Company is bound
or affected, except, in all cases other than violations pursuant to clauses (i) or (iv) (with respect to federal and state securities
laws) above, for such conflicts, defaults, terminations, amendments, acceleration, cancellations and violations as would not, individually
or in the aggregate, have a Material Adverse Effect. The business of the Company is not being conducted in violation of any laws,
ordinances or regulations of any governmental entity, except for possible violations which singularly or in the aggregate do not
and will not have a Material Adverse Effect. The Company is not required under federal, state, foreign or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in
order for it to execute, deliver or perform any of its obligations under the Transaction Documents or issue and sell the Securities
in accordance with the terms hereof or thereof (other than any filings which may be required to be made by the Company with the
Securities and Exchange Commission (the “Commission”) and/or FINRA prior to or subsequent to the Closing, or
state securities administrators subsequent to the Closing, or any registration statement which may be filed pursuant hereto or
thereto).

(f)           
Commission Documents; Financial Statements. The Company has made available to Purchaser through the EDGAR system,
true and complete copies of the Company’s most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2019
(the “Form 10-K”), and all other reports, schedules, forms, statements and other documents required to be filed
by the Company pursuant to the Securities Act and the Exchange Act of 1934, as amended (the “Exchange Act”),
including pursuant to Section 13(a) or 15(d) thereof, since March 31, 2019 (all of the foregoing, including filings incorporated
by reference therein, being referred to herein as the “Commission Documents”). The Company has not provided
to Purchaser any material non-public information or other information which, according to applicable law, rule or regulation, should
have been disclosed publicly by the Company but which has not been so disclosed, other than with respect to the transactions contemplated
by this Agreement. At the time of their filing, other than the timeliness of the filings, each Commission Document complied in
all material respects with the requirements of the Securities Act or Exchange Act, as applicable, and the rules and regulations
of the Commission promulgated thereunder and other federal, state and local laws, rules and regulations applicable to such documents,
and, at the time of its filing, each Commission Document did not contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading. As of their respective dates, the financial statements of the Company included in the
Commission Documents complied as to form in all material respects with applicable accounting requirements and the published rules
and regulations of the Commission or other applicable rules and regulations with respect thereto. Such financial statements have
been prepared in accordance with generally accepted accounting principles (“GAAP”) applied on a consistent basis
during the periods involved (except (i) as may be otherwise indicated in such financial statements or the Notes thereto or (ii)
in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary statements),
and fairly present in all material respects the financial position of the Company and its subsidiary as of the dates thereof and
the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end
audit adjustments).

(g)          
No Material Adverse Change. Since December 31, 2019, the Company has not experienced or suffered any Material Adverse
Effect.

(h)          
No Undisclosed Liabilities. The Company has not incurred any liabilities, obligations, claims or losses (whether
liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) other than those set forth in the
Commission Documents or incurred in the ordinary course of the Company’s business since December 31, 2019, and which, individually
or in the aggregate, do not or would not have a Material Adverse Effect on the Company.

(i)            
No Undisclosed Events or Circumstances. Since December 31, 2019, except as disclosed in the Commission Documents
filed prior to the date hereof, (i) to the Company’s knowledge, there has been no event, occurrence or development that has
had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities
(contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent
with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP
or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company
has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made
any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to
any officer, director or affiliate, except pursuant to any existing Company stock option plans. The Company does not have pending
before the Commission any request for confidential treatment of information. Except for the issuance of the Securities contemplated
by this Agreement, no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected
to occur or exist with respect to the Company or its subsidiary or their respective businesses, properties, operations, assets
or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this
representation is made or deemed made that has not been publicly disclosed at least one (1) trading day prior to the date that
this representation is made.

(j)            
Actions Pending. There is no action, suit, claim, investigation, arbitration, alternate dispute resolution proceeding
or other proceeding pending or, to the knowledge of the Company, threatened, against the Company which questions the validity of
this Agreement or any of the other Transaction Documents or any of the transactions contemplated hereby or thereby or any action
taken or to be taken pursuant hereto or thereto. Except as disclosed in the Commission Documents, there is no action, suit, claim,
investigation, arbitration, alternate dispute resolution proceeding or other proceeding pending or, to the knowledge of the Company,
threatened against or involving the Company or any of their respective properties or assets, which individually or in the aggregate,
would have a Material Adverse Effect. There are no outstanding orders, judgments, injunctions, awards or decrees of any court,
arbitrator or governmental or regulatory body against the Company or any officers or directors of the Company in their capacities
as such, which individually, or in the aggregate, would have a Material Adverse Effect.

(k)          
Compliance with Law. The business of the Company has been and is presently being conducted in accordance with all
applicable federal, state and local governmental laws, rules, regulations and ordinances, except as set forth in the Commission
Documents or such that, individually or in the aggregate, the noncompliance therewith would not have a Material Adverse Effect.
The Company has all franchises, permits, licenses, consents and other governmental or regulatory authorizations and approvals necessary
for the conduct of its business as now being conducted by it unless the failure to possess such franchises, permits, licenses,
consents and other governmental or regulatory authorizations and approvals, individually or in the aggregate, could not reasonably
be expected to have a Material Adverse Effect.

(l)            
Taxes. The Company has accurately prepared and filed all federal, state and other tax returns required by law to
be filed by it, has paid or made provisions for the payment of all taxes shown to be due and all additional assessments, and adequate
provisions have been and are reflected in the financial statements of the Company for all current taxes and other charges to which
the Company is subject and which are not currently due and payable. None of the federal income tax returns of the Company have
been audited by the Internal Revenue Service. The Company has no knowledge of any additional assessments, adjustments or contingent
tax liability (whether federal or state) of any nature whatsoever, whether pending or threatened against the Company for any period,
nor of any basis for any such assessment, adjustment or contingency.

(m)         
Certain Fees. The Company has not employed any broker or finder or incurred any liability for any brokerage or investment
banking fees, commissions, finders’ structuring fees, financial advisory fees or other similar fees in connection with the
Transaction Documents.

(n)          
Private Placement. Assuming the accuracy of Purchaser’s representations and warranties set forth in Section
2.2, no registration under the Securities Act is required for the offer and sale of the Shares by the Company to Purchaser as contemplated
hereby. The issuance and sale of the Shares hereunder does not contravene the rules and regulations of the OTC Markets, or any
other market or exchange on which the Common Stock is listed or quoted for trading on the Closing Date.

Section
2.2         Representations and Warranties
of Purchaser. Purchaser hereby makes the following representations and warranties to the Company:

(a)           
Authorization and Power. Purchaser has the requisite power and authority to enter into and perform the Transaction
Documents and to purchase the Shares being sold to it hereunder. The execution, delivery and performance of the Transaction Documents
by Purchaser and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate
or partnership action, and no further consent or authorization of Purchaser or its Board of Directors, stockholders, or partners,
as the case may be, is required. This Agreement has been duly authorized, executed and delivered by Purchaser. The other Transaction
Documents constitute, or shall constitute when executed and delivered, valid and binding obligations of Purchaser enforceable against
Purchaser in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of,
creditor’s rights and remedies or by other equitable principles of general application.

(b)          
Acquisition for Investment. Purchaser is purchasing the Shares solely for its own account for the purpose of investment
and not with a view to or for sale in connection with the distribution thereof. Purchaser does not have a present intention to
sell any of the Securities, nor a present arrangement (whether or not legally binding) or intention to effect any distribution
of any of the Securities to or through any Person; provided, however, that by making the representations herein and subject to
Section 2.2(e) below, Purchaser does not agree to hold any of the Securities for any minimum or other specific term and reserves
the right to pledge any of the Securities for margin purposes and/or to dispose of any of the Securities at any time in accordance
with federal and state securities laws applicable to such disposition. Purchaser acknowledges that it (i) has such knowledge and
experience in financial and business matters such that Purchaser is capable of evaluating the merits and risks of its investment
in the Company, (ii) is able to bear the financial risks associated with an investment in the Securities, and (iii) has been given
full access to such records of the Company and to the officers of the Company as it has deemed necessary or appropriate to conduct
its due diligence investigation.

(c)           
Rule 144. Purchaser understands that the Securities must be held indefinitely unless such Securities are registered
under the Securities Act or an exemption from registration is available. Purchaser acknowledges that it is familiar with Rule 144
of the rules and regulations of the Commission, as amended, promulgated pursuant to the Securities Act (“Rule 144”),
and that Purchaser has been advised that Rule 144 permits resales only under certain circumstances. Purchaser understands that
to the extent that Rule 144 is not available, Purchaser will be unable to sell any Securities without either registration under
the Securities Act or the existence of another exemption from such registration requirement.

(d)          
General. Purchaser understands that the Securities are being offered and sold in reliance on a transactional exemption
from the registration requirements of United States federal and state securities laws and the Company is relying in part upon the
truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of Purchaser set forth herein
in order to determine the availability of such exemptions and the suitability of Purchaser to acquire the Securities. Purchaser
understands that no United States federal or state agency or any government or governmental agency has passed upon or made any
recommendation or endorsement of the Securities.

(e)           
Experience of Purchaser; Independent Investment Decision. Purchaser, either alone or together with its representatives,
has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits
and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Purchaser
is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss
of such investment.

(f)           
No General Solicitation. Purchaser acknowledges that the Securities were not offered to Purchaser by means of any
form of general or public solicitation or general advertising, or publicly disseminated advertisements or sales literature, including
(i) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media, or broadcast
over television or radio, or (ii) any seminar or meeting to which Purchaser was invited by any of the foregoing means of communications.

(g)          
Accredited Investor. At the time Purchaser was offered the Securities, it was, and at the date hereof it is, an “accredited
investor” as defined in Rule 501(a) under the Securities Act, as amended by the Dodd-Frank Wall Street Reform and Consumer
Protection Act. Purchaser acknowledges that an investment in the Securities is speculative and involves a high degree of risk.

(h)          
Compliance. No part of the funds being used by Purchaser to acquire the Securities has been, or shall be, directly
or indirectly derived from, or related to, any activity that may contravene United States federal or state or non-United States
laws or regulations, including, without limitation, Money Laundering Laws.

ARTICLE
3

COVENANTS

The Company covenants with Purchaser
as follows, which covenants are for the benefit of Purchaser and their respective permitted assignees.

Section
3.1         Securities Compliance.
The Company shall notify the Commission, in accordance with its rules and regulations, of the transactions contemplated by any
of the Transaction Documents, and shall take all other necessary action and proceedings as may be required and permitted by applicable
law, rule and regulation, for the legal and valid issuance of the Securities to Purchaser, or their respective subsequent holders.

Section
3.2         Listing of Common Stock.
The Company hereby agrees to use best efforts to maintain the listing or quotation of the Common Stock on the OTC Markets or such
other market on which it is currently listed, and if required, concurrently with the Closing, the Company shall apply to list or
quote all of the Underlying Shares on such trading market and promptly secure the listing of all of the Underlying Shares on such
trading market. The Company further agrees, if the Company applies to have the Common Stock traded on any other trading market,
it will then include in such application all of the Underlying Shares, and will take such other action as is necessary to cause
all of the Underlying Shares to be listed or quoted on such other trading market as promptly as possible. The Company will then
take all action reasonably necessary to continue the listing or quotation and trading of its Common Stock on a trading market and
will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the trading
market.

Section
3.3         Use of Proceeds. The
Company will use the net proceeds from the sale of the Shares for the payoff of the St. George convertible note with the remainder
for working capital purposes. .

ARTICLE
4

CONDITIONS

Section
4.1         Conditions Precedent to the
Obligation of the Company to Close and to Sell the Shares. The obligation hereunder of the Company to close and issue and sell
the Shares to Purchaser on the Closing Date is subject to the satisfaction or waiver, at or before the Closing, of the conditions
set forth below. These conditions are for the Company’s sole benefit and may be waived by the Company at any time in its
sole discretion.

(a)           
Accuracy of Purchaser’s Representations and Warranties. The representations and warranties of Purchaser shall
be true and correct in all material respects as of the date when made and as of the Closing Date as though made at that time, except
for representations and warranties that are expressly made as of a particular date, which shall be true and correct in all material
respects as of such date.

(b)          
Performance by Purchaser. Purchaser shall have performed, satisfied and complied in all material respects with all
covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by Purchaser at or
prior to the Closing Date.

(c)           
No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation
of any of the transactions contemplated by this Agreement.

(d)          
Delivery of the Purchase Price. The Purchase Price for the Shares shall have been delivered to the Company at the
Closing.

(e)           
Delivery of Transaction Documents. The Transaction Documents to which Purchaser is a party shall have been duly executed
and delivered by Purchaser to the Company.

Section
4.2         Conditions Precedent to the
Obligation of Purchaser to Close and to Purchase the Shares. The obligation hereunder of Purchaser to purchase the Shares and
consummate the transactions contemplated by this Agreement is subject to the satisfaction or waiver, at or before the Closing,
of each of the conditions set forth below. These conditions are for Purchaser’s sole benefit and may be waived by Purchaser
at any time in their sole discretion.

(a)           
Accuracy of the Company’s Representations and Warranties. Each of the representations and warranties of the
Company in this Agreement shall be true and correct in all material respects as of the Closing Date, except for representations
and warranties that speak as of a particular date, which shall be true and correct in all material respects as of such date.

(b)          
Performance by the Company. The Company shall have performed, satisfied and complied in all respects with all covenants,
agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to
the Closing Date.

(c)           
No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation
of any of the transactions contemplated by this Agreement.

(d)          
No Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any governmental authority shall
have been commenced, and no investigation by any governmental authority shall have been threatened, against the Company, or any
of the officers, directors or affiliates of the Company, seeking to restrain, prevent or change the transactions contemplated by
this Agreement, or seeking damages in connection with such transactions.

ARTICLE
5

TRANSFER RESTRICTIONS; CERTIFICATE LEGEND

Section
5.1         Transfer Restrictions.
The Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of
Securities other than pursuant to an effective registration statement or Rule 144 or to the Company, the Company may require the
transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the
Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer
does not require registration of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee
shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under
this Agreement.

Section
5.2         Legend. Each certificate
representing the Shares shall be stamped or otherwise imprinted with a legend substantially in the following form (in addition
to any legend required by applicable state securities or “blue sky” laws):

THE SECURITIES REPRESENTED BY THIS CERTIFICATE (THE
“SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER
THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR MOUNTAIN HIGH ACQUISITIONS CORP., SHALL HAVE RECEIVED AN OPINION
OF ITS COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES
LAWS IS NOT REQUIRED.

ARTICLE
6

MISCELLANEOUS

Section
6.1         Entire Agreement; Amendment.
This Agreement and the Transaction Documents contain the entire understanding and agreement of the parties with respect to the
matters covered hereby and, except as specifically set forth herein or in the other Transaction Documents, neither the Company
nor Purchaser makes any representation, warranty, covenant or undertaking with respect to such matters, and they supersede all
prior understandings and agreements with respect to said subject matter, all of which are merged herein. No provision of this Agreement
may be waived or amended other than by a written instrument signed by the Company and the holders of at least a majority in interest
of the then-outstanding Shares, and no such amendment shall be effective to the extent that it applies to less than all of the
holders of the Shares then outstanding. No consideration shall be offered or paid to any Person to amend or consent to a waiver
or modification of any provision of any of the Transaction Documents unless the same consideration is also offered to all of the
parties to the Transaction Documents or holders of Shares, as the case may be.

Section
6.2         Notices. Any notice,
demand, request, waiver or other communication required or permitted to be given hereunder shall be in writing and shall be effective
(a) upon hand delivery by telecopy or facsimile at the address or number designated below (if delivered on a business day during
normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other
than on a business day during normal business hours where such notice is to be received), or (b) on the second business day following
the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur or (c) if by email, upon receipt. The addresses for such communications shall be:

	If to the Company:	Mountain High Acquisitions Corp.
	 	Attention: Alan Smith
	 	6501 E. Greenway Parkway, Suite 103-412
	 	Scottsdale, Arizona 85254
	 	Email:alan.smith@avidcap.com
	 	 
	 	 
	with copies (which copies shall not constitute notice to the Company) to:	
        TroyGould PC

        1801 Century Park East, 16th Floor

        Los Angeles, California 90067

        Attention: David L. Ficksman

	 	Email:dficksman@troygould.com
	 	 
	 	 
	To Purchaser:	At the address of Purchaser set forth on the signature page
	 	 

Any party hereto may from time to time
change its address for notices by giving at least ten (10) days written notice of such changed address to the other party hereto.

Section
6.3         Waivers. No waiver by
any party of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any
party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.

Section
6.4         Headings; Interpretation.
The article, section and subsection headings in this Agreement are for convenience only and shall not constitute a part of this
Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. The interpretation of
this Agreement shall not be affected by the party who drafted this Agreement, and all parties waive any statute, legal decision,
or common law principle that would require interpretation of any ambiguities in this Agreement against the party that drafted this
Agreement.

Section
6.5         Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. After the Closing,
the assignment by a party to this Agreement of any rights hereunder shall not affect the obligations of such party under this Agreement.
After the Closing, Purchaser may assign the Shares and their rights under this Agreement and the other Transaction Documents and
any other rights hereto and thereto without the consent of the Company, except as limited by law or otherwise required in this
Agreement.

Section
6.6         No Third Party Beneficiaries.
This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns and is not
for the benefit of, nor may any provision hereof be enforced by, any other Person (other than indemnified parties, as contemplated
by Article VII).

Section
6.7         Governing Law. This Agreement
shall be governed by and construed in accordance with the internal laws of the State of Colorado, without giving effect to the
choice of law provisions. This Agreement shall not be interpreted or construed with any presumption against the party causing this
Agreement to be drafted.

Section
6.8         Survival. The representations
and warranties of the Company and Purchaser shall survive the execution and delivery hereof and the Closing until the date one
year from the Closing Date, and the agreements and covenants set forth in Articles I, III, V, VII and VIII of this Agreement shall
survive the execution and delivery hereof and the Closing hereunder.

Section
6.9         Counterparts. This Agreement
may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and shall
become effective when counterparts have been signed by each party and delivered to the other parties hereto, it being understood
that all parties need not sign the same counterpart.

Section
6.10      Severability. The provisions of this Agreement
are severable and, in the event that any court of competent jurisdiction shall determine that any one or more of the provisions
or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in
any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this
Agreement and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part
of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to the maximum
extent possible.

Section
6.11      Further Assurances. From and after the
date of this Agreement, upon the request of Purchaser or the Company, the Company and Purchaser shall execute and deliver such
instruments, documents and other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate
fully the intent and purposes of this Agreement.

[Signature pages follow.]

    	 

    	 

    

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

	 	MOUNTAIN HIGH ACQUISITIONS CORP.
	 	 
	 	 
	 	By:/s/ Alan Smith           
	 	Name:Alan Smith
	 	Title:President
	 	 
	 	 
	 	“PURCHASER”
	 	 
	 	                                      
	 	Trilogy Capital LLC
	 	 
	 	 
	 	By:/s/ Judy Pham            
	 	Name:Judy Pham
	 	Title: President
	 	 
	 	
        Address for Notice:

         

	 	578 Washington Blvd Ste 578
	 	Marina Del Rey, CA 90292
	 	(Print Address)
	 	 
	 	Telephone:310-300-0800
	 	Facsimile:                             
	 	E-mail:drjudys@gmail.com
	 	 

 

    	 

    	 

    

SCHEDULE 2.1(c)

Capitalization

Common stock: $0.0001 par value; 500,000,000
shares authorized; 212,205,381 shares issued and outstanding as of December 31, 2019.

Preferred stock: $0.0001 par value, 250,000,000
shares authorized; 100,000 shares of Preferred Stock were issued and outstanding as of December 31, 2019.

Options: None

Registration Rights: None

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}]]