Document:

Exhibit

Exhibit 10.1

AMENDMENT 3 TO THE MANAGEMENT & SERVICES AGREEMENT BETWEEN WALMART, INC. AND NATIONAL VISION, INC.
This Amendment 3 to the MANAGEMENT & SERVICES AGREEMENT, dated as of May 1, 2012, as amended (the “Agreement”), between Walmart, Inc. (f/k/a Wal-Mart Stores, Inc.) (“Walmart”) and National Vision, Inc. (“Manager”) is effective as of January 23, 2020.  All capitalized terms used but not defined in this amendment have the meaning given those terms in the Agreement.
Based upon the terms and conditions of the Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged. Walmart and Manager agree to the following:
		
	1.
	Changes to Section VIII. Duration, Termination, and Default. Section VIII. Duration, Termination, and Default subsection A. Duration 1. is hereby deleted in its entirety and replaced with the paragraph below 

“This Agreement begins on the Effective Date and continues until February 23, 2021, unless sooner terminated or extended in accordance with the terms of this Agreement. This Agreement will automatically renew for an additional three (3) year term unless, no later than July 23, 2020, one Party gives the other Party written notice of non-renewal. The initial term and any renewal term of this Agreement are referred collectively as the “Term”.”
		
	2.
	Addition of Centers / Amendment to Schedule A. Schedule A to the Agreement is hereby amended by adding the Centers listed on Schedule A hereto (the “New Centers”). The parties agree to cooperate with each other to complete all actions necessary to transition and set a mutually agreeable “go-live date” for each of the New Centers being added to the Agreement.

IN WITNESS WHEREOF, the undersigned parties do hereby agree to make the above modifications to the Agreement. These modifications are valid as if they were included in the original Agreement.
	
		
	National Vision, Inc.
	Walmart, Inc.

	By: /s/ Reade Fahs                       
	By: /s/ Mony Iyer                   

	Name: Reade Fahs                       
	Name: Mony Iyer                   

	Title: Chief Executive Officer     
	Title: Vice President, Optical Lead, Walmart Health & Wellness

	Date: January 22, 2020    
	Date: January 22, 2020    

SCHEDULE A
List of Centers and Minimum Hours of Operation
 
	
										
	Store #
	City
	State
	Sun
	Mon
	Tue
	Wed
	Thu
	Fri
	Sat

	459
	Covington
	GA
	--
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm

	1076
	Macon
	GA
	--
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm

	3388
	Lawrenceville (S)
	GA
	--
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm

	7185
	Coal Mountain
	GA
	--
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm

	7194
	Adel
	GA
	--
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pm
	9am-7pmKIBUSH
CAPITAL CORP.

PROMISSORY NOTE CONSOLIDATION AGREEMENT

 

This
PROMISSORY NOTE CONSOLIDATION AGREEMENT (this “Agreement”) is made and entered into as of January
15, 2020, by and among Kibush Capital Corp., a Nevada corporation (“Company”), the existing Debtor set
forth on Schedule 1 attached hereto (the “Debtor”), and Warren Sheppard., the existing creditor
of the Debtor (the “Creditor”). The Company, the Debtor and the Creditor are sometimes individually
referred to herein as a “Party”, and collectively as, the “Parties”.

 

RECITALS

 

WHEREAS,
the Debtor and Creditor are parties to those certain promissory notes set forth on Schedule 2, attached hereto (such promissory
notes, the “Outstanding Notes”), and certain of the Outstanding Notes are unsecured unless pursuant
to the terms as disclosed and set forth on Schedule 3, attached hereto (such security agreements, the “Security
Agreements”);

 

WHEREAS,
as of the date hereof, the outstanding principal and accrued but unpaid interest outstanding under the Outstanding Notes is set
forth beside each Outstanding Note on Schedule 2, attached hereto (the aggregate amount of such principal and accrued but
unpaid interest due under all Outstanding Notes, the “Aggregate Debt Amount”);

 

WHEREAS,
the Company, and the Parties have determined that it is mutually beneficial and in each of their respective best interests to
(i) consolidate the Aggregate Debt Amount and all Outstanding Notes into a single unsecured promissory note, in substantially
the form attached hereto as Exhibit A (the “Note”), between the Company and the Creditor, and
(ii) terminate any existing Security Agreements (if any) and extinguish and terminate all security or conversion interests granted
by the Debtor to secure the Aggregate Debt Amount and all other obligations owing under the Outstanding Notes (such transactions,
the “Note Consolidation”); and

 

WHEREAS,
the Parties desire to enter into this Agreement to provide for the terms and conditions of the Note Consolidation.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the foregoing recitals and the mutual promises, representations, warranties, and covenants
hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

 

	1.	Note
    Consolidation.

 

1.1 Assignment
and Assumption. Subject to the terms and conditions of this Agreement, at the Closing (as defined below), (a) the Debtor
hereby irrevocably assign and transfer unto the Company all of the Outstanding Notes and the Debtor’ respective rights,
obligations and liabilities owing to the Creditor under the Outstanding Notes as of the Closing including, without
limitation, all monetary obligations, indebtedness and the obligation to pay the Aggregate Debt Amount (collectively, the
“Obligations”), and (b) the Company hereby irrevocably accepts, assumes and agrees to discharge in
full the Outstanding Notes on behalf of the Debtor and all such Obligations.

 

    	 

    	 

    

 

1.2
Issuance of Note. Subject to the terms and conditions of this Agreement, at the Closing (as defined below), the Company
shall issue to the Creditor the Note. Effective as of the Closing, the Note shall be deemed to amend and replace in their entirety
and restate all of the Outstanding Notes. The terms and conditions of the Note shall supersede, effective as of the Closing, the
terms and conditions of the Outstanding Notes; provided, however, that the obligations incurred under the Outstanding Notes
and as evidenced by the Outstanding Notes shall continue under the Note, and shall not in any circumstance be terminated, extinguished
or discharged hereby but shall hereafter be governed by the terms of the Note.

 

1.3
Security and Collateral.

 

(a)Termination.
Effective upon the Closing, (i) all mortgages, hypothecs, charges, liens and other security interests (if any) of the Creditor
in the real and personal property of the Debtor and their respective affiliates in which the Debtor or any one of their respective
affiliates has granted to any Debtor a security interest or charge or given to any Debtor a mortgage to secure its obligations
to any Debtor under the Outstanding Notes and Security Agreements (collectively, the “Collateral”),
and all guarantees of the Obligations, shall be forever automatically, irrevocably and unconditionally satisfied, released and
discharged without further action; and (ii) the Security Agreements shall be deemed terminated and of no further force or effect.

 

(b)Execution
of Instruments and Filings. Effective upon the Closing, the Creditor agrees, to: (i) promptly execute and deliver to the Company
and the Debtor, as applicable, or their respective designees, at any registrations of deeds or instruments of discharge necessary
or desirable to release and discharge any security interest granted under the Outstanding Notes and Security Agreements, including,
without limitation, any Uniform Commercial Code termination statements, mortgage releases, intellectual property security agreement
releases, account control agreement terminations or release statements pertaining to liens, charges and security interests heretofore
granted to the Creditor with respect to the Collateral and all guarantees of the Obligations as the Company and the Debtor, as
applicable, or their respective designees, may reasonably request; (ii) deliver to the Company and the Debtor, as applicable,
or their respective designees all Outstanding Notes, Security Agreements and other instruments (other than the Note) marked “Cancelled”
and (iii) deliver promptly such other termination statements or documents as the Company and the Debtor, as applicable, or their
respective designees, may from time to time reasonably request to effectuate or reflect of public record, the release and discharge
of such security interests, mortgages, hypothecs and liens; provided, that, immediately upon the Closing, the Creditor
will deliver all stock certificates and other possessory collateral to the Company and the Debtor, as applicable, or their respective
designees. Further, the Company and the Debtor, as applicable, or their respective designees, are authorized by the Creditor,
following issuance of the Note, to file, without the signature of the Creditor, to the extent permitted by applicable law, such
termination statements, deeds or instruments of discharge with respect to liens under the Outstanding Notes and Security Agreements,
mortgage release documents, intellectual property release documents, account control agreement terminations and such other instruments
of release and discharge pertaining to the security interests, charges, mortgages, hypothecs and other liens described above of
the Creditor, in any of the property, real or personal of the Company and the Debtor, as applicable or their respective affiliates,
as Company and the Debtor, as applicable, or their respective designees may reasonably deem necessary to effectuate or reflect
of public record, the release and discharge of all such security interests, charges, mortgages, hypothecs and liens.

 

    	 

    	 

    

 

1.4
Closing. The Note Consolidation contemplated hereunder shall take place at the offices of the Company at 10:00 a.m. local
time on the date hereof, or at such other time and place as the Company and the Creditor mutually determine (which time and place
are designated as the “Closing”).

 

	2.	Representations
    and Warranties of the Parties. Each of the Parties represents and warrants, as to itself only, to each of the other Parties
    as of the Closing as follows:

 

2.1
Organization and Standing. Such Party is a corporation or limited liability company, as the case may be, duly incorporated
or formed and validly existing under, and by virtue of, the laws of its jurisdiction of organization, and such Party is in good
standing under such laws.

 

2.2
Power. Such Party has all requisite corporate or limited liability company, as applicable, power and authority to execute
and deliver this Agreement and the other documents to be executed and delivered by it hereunder and to carry out and perform its
respective obligations under the terms of this Agreement and the other documents to be executed and delivered by it hereunder.

 

2.3
Authorization. All corporate or limited liability company, as applicable, action on the part of such Party, its officers,
directors, managers, members and stockholders necessary for the authorization, execution and delivery by such Party of this Agreement
and the other documents to be executed and delivered by it hereunder and the performance of all of its respective obligations
hereunder and thereunder has been taken or will be taken prior to the Closing. This Agreement and the other documents to be executed
and delivered by it hereunder, when executed and delivered by such Party, shall constitute valid and binding obligations of such
Party, enforceable in accordance with each of their respective terms, except (a) as limited by laws of general application relating
to bankruptcy, insolvency and the relief of Debtor and (b) as limited by rules of law governing specific performance, injunctive
relief or other equitable remedies and by general principles of equity.

 

2.4
Tax Advisors. Each Party has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences
of the transactions contemplated by this Agreement. With respect to such matters, the Parties are relying solely on such advisors
and not on any statements or representations of any other Party or any of their respective agents, written or oral. Each Party
understands that it, and not any other Party, shall be responsible for its own tax liability that may arise as a result of the
transactions contemplated by this Agreement.

 

    	 

    	 

    

 

	3.	Conditions
    to the Parties’ Obligations to Close. Each of the Parties’ obligation at the Closing is subject to the fulfillment
    on or before the Closing of each of the following conditions, unless waived by the applicable Party:

 

3.1
Representations and Warranties. The representations and warranties made by each of the other Parties in Section 2
shall be true and correct in all material respects as of the date of the Closing.

 

3.2
Covenants. All covenants, agreements and conditions contained in this Agreement, to be performed by the other Parties on
or prior to the Closing shall have been performed or complied with in all material respects.

 

3.3
Proceedings and Documents. All corporate, limited liability company and other proceedings, each as applicable to such Party,
in connection with the transactions contemplated at the Closing and all documents and instruments incident to such transactions
shall be reasonably satisfactory in substance and form to such Party and its counsel, and the Party and its counsel shall have
received all such counterpart originals or certified or other copies of such documents as they may reasonably request.

 

	4.	Confidentiality.
    Except as may be required by any law or regulation, the Parties agree that they will maintain the confidentiality of any proprietary
    information of the Company obtained by it pursuant to the this Agreement or by virtue of its relationship as a creditor of
    the Company and Debtor, which is not otherwise lawfully available from other sources, subject to the disclosure of information
    of a non-technical nature, including summary financial information, which the Creditors may disclose to its respective partners,
    stockholders and/or affiliates so long as such partners, stockholders and/or affiliates agree to maintain the confidentiality
    of such information.

 

	5.	Miscellaneous.

 

5.1
Survival. The warranties, representations and covenants of the Parties contained in or made pursuant to this Agreement
shall survive the execution and delivery of this Agreement and the Closing and shall in no way be affected by any investigation
of the subject matter thereof made by or on behalf of such Party.

 

5.2
Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by
registered or certified mail, postage prepaid, sent by facsimile, sent by electronic mail, or otherwise delivered by hand or by
messenger addressed:

 

(a)
if to the Creditor: Warren Sheppard, 2215-B Renaissance Drive, Las Vegas, NV 89119.

 

(b)
if to the Company or any Debtor: Kibush Capital Corp., 2215-B Renaissance Drive, Las Vegas, NV 89119, with a copy (which shall
not constitute notice) to: Andrew Coldicutt, Esq., 1220 Rosecrans St., PMB 258 San Diego CA 92106 or at Andrew@ColdicuttLaw.com.

 

    	 

    	 

    

 

Any
such notice or communication shall be deemed to have been received (i) in the case of personal delivery, on the date of such delivery,
(ii) in the case of a nationally-recognized overnight courier, on the next business day after the date when sent (or, in the case
of international deliveries, on the second business day after the date when sent), (iii) in the case of mailing, at the earlier
of its receipt or on the third business day following that on which the piece of mail containing such communication is posted,
(iv) in the case of delivery via facsimile, upon confirmation of facsimile transfer and (v) in the case of electronic mail, the
day sent when sent during normal business hours.

 

5.3
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective successors and assigns of the Parties (including permitted transferees of the
Note). Nothing in this Agreement, express or implied, is intended to confer upon any Party, other than the Parties hereto or their
respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except
as expressly provided in this Agreement.

 

5.4
Governing Law; Jurisdiction; Venue; Service of Process. This Agreement shall be governed by and construed under the laws
of the State of New York as applied to agreements among New York residents entered into and to be performed entirely within New
York, without regard to its conflict of law principles. The Parties hereby submit to the personal jurisdiction of, and agree that
any legal proceeding with respect to or arising under this Agreement, the Outstanding Notes, the Security Agreements or the Note,
shall be brought solely and exclusively in the state courts of the State of New York sitting in New York City and the United States
District Court for the Southern District of New York, if such court has subject matter jurisdiction.

 

5.5
Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement.

 

5.6
Expenses. Each Party shall be responsible for its own costs and expenses in connection with the negotiation, execution
and performance of this Agreement. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement,
the prevailing Party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any
other relief to which such Party may be entitled.

 

5.7
Amendments and Waivers. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended,
waived, discharged or terminated other than by a written instrument referencing this Agreement and signed by the Parties hereto.
No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed
to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

5.8
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded
and shall be enforceable in accordance with its terms.

 

5.9
Entire Agreement. This Agreement, the exhibits attached hereto, and the documents referenced herein constitute the entire
agreement among the Parties and no Party shall be liable or bound to any other Party in any manner by any warranties, representations
or covenants except as specifically set forth herein or therein. This Agreement supersedes any and all prior agreements, negotiations,
correspondence, understandings and communications among the Parties, whether written or oral, respecting the subject matter hereof.

 

5.10
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. An original signature or copy thereof transmitted by facsimile
or other electronic transmission shall constitute an original signature for purposes of this Agreement.

 

[SIGNATURE
PAGES TO FOLLOW]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, this Agreement is executed as of the date first written above.

 

	COMPANY:
    KIBUSH CAPITAL CORP.,	 
	 	 	 
	By:	/s/
    Warren Sheppard	 
	Name:	Warren
    Sheppard	 
	Title:	Chief
    Executive Officer	 

 

(Kibush
Capital Corp. - Signature Page to Promissory Note Consolidation Agreement)

 

IN
WITNESS WHEREOF, this Agreement is executed as of the date first written above.

 

	DEBTOR:
    KIBUSH CAPITAL CORP.,	 
	 	 	 
	By:	/s/
    Warren Sheppard	 
	Name:	Warren
    Sheppard	 
	Title:	Chief
    Executive Officer	 

 

IN
WITNESS WHEREOF, this Agreement is executed as of the date first written above.

 

	CREDITOR:
    Warren Sheppard	 
	 	 	 
	By:	/s/
    Warren Sheppard	 
	Name:	Warren
    Sheppard	 
	Title:	 	 

 

    	 

    	 

    

 

SCHEDULE
1

 

Schedule
of Debtor

 

Kibush
Capital Corp.

 

***
End Schedule 1 ***

 

    	 

    	 

    

 

SCHEDULE
2

 

Schedule
of Outstanding Notes

 

	Promissory Note	 	Outstanding Principal	 	 	Outstanding Interest	 
	David Loren Corporation. 2% Secured Promissory Note issued May 1, 2011 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013	 	 	22166	 	 	 	3,780	 
	David Loren Corporation. 2% Secured Promissory Note issued January 2, 2012 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013	 	 	48,000	 	 	 	7,438	 
	David Loren Corporation. 2% Secured Promissory Note issued January 3, 2013 to Hoboken Street Associates, and as assigned to Warren Sheppard on July 3, 2013	 	 	12,000	 	 	 	1,618	 
	Kibush Capital Corp. 12.5% Secured Promissory Note issued March 31, 2014 to Warren Sheppard.	 	 	157,500	 	 	 	104,815	 
	Kibush Capital Corp. 12.5% Secured Promissory Note issued June 30, 2014 to Warren Sheppard.	 	 	110,741	 	 	 	70,384	 
	Kibush Capital Corp. 12.5% Secured Promissory Note issued September 30, 2014 to Warren Sheppard.	 	 	98,575	 	 	 	59,670	 
	Kibush Capital Corp. 12.5% Secured Promissory Note issued September 30, 2015 to Warren Sheppard.	 	 	316,046	 	 	 	153,387	 
	Kibush Capital Corp. 12.5% Secured Promissory Note issued October 10, 2016 to Warren Sheppard.	 	 	155,300	 	 	 	37,272	 
	 	 	 	 	 	 	 	 	 
	Total:	 	 	920,328	 	 	 	438,364	 

 

    	 

    	 

    

 

SCHEDULE
3

 

Schedule
of Security Agreements

 

***
End Schedule 3 ***

 

    	 

    	 

    

 

EXHIBIT
A

 

Form
of Note

 

(attached
hereto)

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