Document:

Exhibit
10.7

 

HOLDING
ESCROW AGREEMENT

 

THIS
HOLDING ESCROW AGREEMENT (“Agreement”) is entered into effective on December 10, 2020 by and between Can B Corp.,
a Florida corporation (the “Borrower”), ________________ (collectively, the “Lender”), and Hollywood Escrow,
Inc., as Escrow Holder (“Escrow Holder”). The Borrower and Lender are sometimes referred to herein individually as
a “Party” and collectively as the “Parties.”

 

WHEREAS,
the Parties have entered into that certain Securities Purchase Agreement dated December 10, 2020 (the “Purchase Agreement”);
and

 

WHEREAS,
the Parties request that Escrow Holder holds certain monies as a neutral third party pursuant to the Purchase Agreement, as further
detailed herein.

 

NOW,
THEREFORE, in consideration of the premises and the mutual promises herein made, and in consideration of the representations,
warranties, and covenants herein contained, the parties hereto agree as follows:

 

GENERAL
TERMS AND CONDITIONS

 

1.
HOLDING ESCROW PURPOSE: The general purpose of this escrow is to hold and safeguard (i) a $197,000.00 deposit (the “PPP
Deposit”) to be deposited by Lender, and (ii) a $25,000.00 deposit (the “EID Deposit” and, collectively with
the PPP Deposit, the “Deposits”) to be deposited by Lender, until such time as the Deposits shall be either (A) used
to repay the SBA Loans (defined below), or (B) released to Borrower, all in accordance with the terms hereof.

 

2.
ESCROW HOLDER’S FUNCTION: Escrow Holder’s sole task is to safeguard Deposits and to disburse the same as hereinafter
set forth. The Deposits will not be subject to any lien, attachment, trustee process or any other judicial process of any creditor
of any party hereto and will be used solely for the purposes and subject to the conditions set forth herein.

 

3.
INTERPRETATION AND LEGALITY OF UNDERLYING AGREEMENT: The Parties acknowledge that Escrow Holder has not and shall not be involved
with the interpretation, drafting, or reviewing of the Purchase Agreement between the Parties that is the subject of this escrow.
Escrow Holder’s sole concern and purpose shall be to hold and safeguard the Deposits on behalf of the Parties and to disburse
the same as herein set forth. Furthermore, the Parties confirm to Escrow Holder that the underlying subject matter and basic purpose
of the holding escrow is legal, and does not violate any applicable state or federal law.

 

4.
DISBURSEMENT PROCEDURES:

 

a.
The Borrower has received that certain Paycheck Protection Program loan (the “PPP Loan”) for which an application
for forgiveness has been submitted to the U.S. Small Business Administration (the “SBA”). Within one (1) business
day of receipt of joint written instruction signed by both the Borrower and the Lender stating that a forgiveness determination
with respect to all or a portion of the PPP Loan had by made by the SBA, and specifying the amount, if any, of payment to be made
to the SBA, Escrow Holder shall make payment to the SBA in accordance with such written instructions. To the extent there are
any Deposits remaining after Escrow Holder has made the foregoing payment or if no such payment is due, Escrow Holder shall within
one (1) business day of receipt of joint written instructions of the Borrower and the Lender pay such remaining funds (or the
entire Deposit amount (less any amount set forth in b below) to Borrower pursuant to this Agreement.

 

    	 

     

    

 

b.
The Borrower has received that certain Economic Injury Disaster loan (the “EID Loan” and, together with the PPP Loan,
the “SBA Loans”) which it intends to pay with monies received pursuant to the Purchase Agreement on the date hereof.
Within one (1) business day of receipt of joint written instruction signed by both the Borrower and the Lender stating that the
SBA confirmed receipt of payment with respect to all or a portion of the EIDL Loan had by made by the SBA, and specifying the
amount, if any, of any additional payment to be made to the SBA pursuant to the EIDL Loan, Escrow Holder shall make payment to
the SBA in accordance with such written instructions. To the extent there are any Deposits remaining after Escrow Holder has made
the foregoing payment or if no such payment is due, Escrow Holder shall within one (1) business day of receipt of joint written
instructions of the Borrower and the Lender pay such remaining funds (or the entire Deposit amount (less any amount set forth
in a below) to Borrower pursuant to this Agreement.

 

5.
DISBURSEMENT INFORMATION. The Parties represent and warrant to Escrow Holder that the disbursement information provided to Escrow
Holder is complete, accurate in all respects, and is not subject to qualification.

 

6.
DISBURSEMENT REQUESTS: The Parties acknowledge that certain conditions must be met before Escrow Holder can make disbursements.
Such conditions include receipt of executed disbursement instructions from the both Parties acceptable to Escrow Holder (“Disbursement
Instructions”). Absent written agreement to the contrary, Escrow Holder will make disbursements within twenty-four (24)
hours from receipt of acceptable Disbursement Instructions from the Parties.

 

7.
DUTY OF ESCROW HOLDER: Escrow Holder’s duties hereunder shall be limited to the safekeeping of the Deposits received by
Escrow Holder and for the disposition and/or disbursement of same in accordance with the written instructions acceptable by Escrow
Holder. Escrow Holder shall not be liable for any damages, losses, costs or expenses incurred by any Party in the handling and
processing of this Escrow as a result of any act or failure to act made or omitted in good faith or for any action taken that
Escrow Holder shall in good faith believe to be genuine. Escrow Holder may consult with legal counsel during the course of this
Escrow.

 

8.
WRITTEN INSTRUCTIONS REQUIRED: The Parties acknowledge and agree that Escrow Holder requires written and executed instructions
to disburse the Deposits as provided herein. Pursuant to California Civil Code Section 1624, no supplement or amendment to this
Agreement shall be effective unless given in writing by the Parties affected thereby. Escrow Holder may, at its sole discretion,
rely on written instructions made outside of escrow.

 

9.
VERIFICATION OF IDENTITY: Escrow Holder shall not be responsible or liable in any manner for the sufficiency or correctness as
to from, manner of execution or validity of any document(s) deposited with Escrow Holder, nor as to the identity, authority or
rights of any person executing the same, or for verifying signatures, or determining whether there is a false impersonation, forgery,
fraud, or the scope of any agents’ authority either as to documents of record or those handled in this escrow. If the Parties
desire that Escrow Holder verify any signature(s) on instructions, checks, documents or other items received by Escrow Holder,
separate written Escrow Instructions must be entered into and expressly approved by Escrow Holder that specifically evidences
Escrow Holder’s agreement to undertake such responsibility upon the payment of an additional fee. Escrow Holder shall not
be liable or responsible for any loss that may occur because of forgeries, fraud or false representations made or involving the
Parties to this Agreement, any third parties, the Parties’ agent(s) or broker(s) or any other person or entity.

 

10.
ELECTRONIC SIGNATURE ACKNOWLEDGEMENT: Lender and/or Borrower hereby agree to allow Escrow Holder to rely on Electronic Signatures
(as defined below) as if they are original signatures. Lender and Borrower further acknowledge that original signatures are required
for recordings by the County Recorder. By signing below, the Parties to this Agreement hereby consent to the use of electronically
executed documents for the purposes of expediting this transaction and HOLLYWOOD ESCROW, INC. shall be held free and harmless
from· any liability and/or removability that may arise now or in the future with regard to authenticating or verifying
the actual signature of either Party to this transaction.

 

    	 

     

    

 

11.
WIRE FRAUD ADVISORY: Due to the increase of wire fraud and cyber theft, Escrow Holder does not send account information by the
internet. Escrow Holder’s trust account is with City National Bank. Escrow Holder NEVER sends account information by the
internet. The Parties should notify Escrow Holder immediately if they receive an email purporting to come from Escrow Holder that
contains an account number so that Escrow Holder may contact the proper authorities and report the incident. The Parties are instructed
to never rely on electronic wire instructions received and to verify and confirm all bank account information, whether incoming
or outgoing, with Escrow Holder.

 

12.
ESCROW FEES: Escrow Holder shall receive, as compensation for services a fee in the amount of $1,500.00 (the “Basic Fee”).
Escrow Fees shall be paid by Borrower. This fee shall be earned when received. Additionally, the following fees shall apply (if
applicable): (i) $25 for each incoming and each outgoing wire; (ii) $15 for each check request; and (iii) all out of pocket costs
including messenger and overnight fees.

 

13.
WARRANTY OF UNDERLYING LEGALITY: The Parties represent and warrant to Escrow Holder that the underlying subject matter of this
Agreement is legal in all respects and complies with applicable state and federal laws. Escrow Holder shall conclusively rely
on such representation from the Parties without further inquiring or requesting documentation from the Parties.

 

14.
CORPORATE GOOD STANDING: In the event that a Party to this escrow is a corporation, such Party represents and warrants to Escrow
Holder that: (a) it has all required authority to act on behalf of the corporation (b) it is acting within the scope of its authority,
and (c) the corporation is in good standing. Each person executing this Agreement represents and warrants that he or she has full
power and authority to do so and that no other authorizations or approvals of any kind are necessary.

 

15.
COVENANT. Each Party agrees to cooperate with Escrow Holder including providing such documents and forms as may be reasonably
requested by Escrow Holder from time to time to affect the transactions contemplated by this Agreement.

 

16.
CONFLICTING INSTRUCTIONS & DISPUTES. Should any dispute arise in connection with this Agreement including, but not limited
to, conflicting instructions, Escrow Holder may withhold disbursements until the dispute is resolved by legal process or an agreement
acceptable to Escrow Holder is reached. If resolution cannot be obtained, Escrow Holder may, upon at least fourteen (14) days
prior written notice to the Parties, interplead the Deposits with the court at which time Escrow Holder shall be fully discharged
and relieved from all liability in connection with such funds and shall be entitled to recover its costs and attorneys’
fees in connection therewith.

 

17.
ESCROW HOLDER’S OBLIGATIONS. The obligations of Escrow Holder are limited solely to safeguarding and disbursing Deposits
as provided herein.

 

18.
LIMITATION ON LIABILITY. Under no circumstances (other than fraud, willful misconduct or gross negligence by Escrow Holder) shall
Escrow Holder incur any liability in connection with this Agreement in excess of the amount of the Basic Fee set forth in this
Agreement. This section is of key importance to Escrow Holder and Escrow Holder would not enter into this Agreement in the absence
of this section. This section shall survive termination of this Agreement.

 

19.
INDEMNITY. The Parties agree to indemnify, defend and hold Escrow Holder harmless from and against all claims, actions, suits,
judgments, awards, liabilities, damages, costs, expenses and attorneys’ fees (collectively, “Claims”), in connection
with or allegedly in connection with this Agreement and/or the escrow except to the extent a court determines that Escrow Holder’s
fraud, gross negligence or willful misconduct contributed to any loss to either Party. This section shall survive any termination
of this Agreement.

 

    	 

     

    

 

20.
MAINTENANCE OF RECORDS. Escrow Holder shall keep accurate records as to (a) documents deposited in the escrow; and (b) documents
disbursed from the escrow. As required by California law, original documents shall remain at Escrow Holder’s office and,
upon reasonable notice, shall be available for inspection by either Party.

 

21.
ATTORNEYS’ FEES. In any action regarding this Agreement or the escrow, all attorneys’ fees incurred by Escrow Holder
in connection with this Agreement, whether or not an action is filed, may at Escrow Holder’s choice be immediately reimbursed
from the funds in escrow, if any.

 

22.
RIGHT TO INTERPLEADER: At Escrow Holder’s sole discretion, in the event of a dispute between the Parties, or as otherwise
deemed necessary by the Escrow Holder, Escrow Holder has the unequivocal right to interplead the Escrow Documents with the court
of appropriate jurisdiction and obtain all applicable interpleader legal fees from the funds held herewith, if any.

 

23.
INTERPRETATION. This Agreement shall be interpreted and construed in accordance with California law without reference to conflicts
of law doctrines.

 

24.
NOTICE: Escrow Holder shall only communicate with the Parties to the escrow unless otherwise authorized. Escrow Holder is authorized
to communicate with the following persons based on the following contact information:

 

If
to Borrower:

 

	 	 	Can
    B Corp.
	 	 	c/o
    Stanley L. Teeple
	 	 	960
    South Broadway, Suite 120
	 	 	Hicksville,
    NY 11801
	 	 	Email:
    stan@canbiola.com

 

If
to Lender:

 

 

All
notices, communications and deliveries under this Agreement, except for communications from the Parties setting forth, claiming,
containing, objecting to, or in any way related to the transfer or distribution of funds, including but not limited to funds transfer
instructions, will be made in writing signed by or on behalf of the party making the same, and will be delivered (a) by email
in portable document format (pdf.) (read receipt requested), (b) by overnight courier or (c) by prepaid registered mail, return
receipt requested, in each case to the appropriate email or mailing addresses set forth herein (or to such other address as a
party may designate by notice to the other parties). Notices shall be deemed to be duly given upon receipt. For purposes of this
Agreement, “business day” shall mean any day other than a Saturday, Sunday or any other day on which Escrow
Agent located at the notice address set forth above is authorized or required by law or executive order to remain closed. Any
party may unilaterally designate a different address by giving notice of each such change in the manner specified above to each
other party.

 

    	 

     

    

 

25.
SEVERABILITY. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement. In the event any provision or term hereof is deemed to have exceeded applicable legal
authority or shall be in conflict with applicable legal limitations, such provision shall be reformed and rewritten as necessary
to achieve consistency and compliance with such applicable law.

 

26.
EXECUTION IN COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. All signatures of the parties to this Agreement may be
transmitted by portable document format (pdf.), and such portable document format (pdf.) will, for all purposes, be deemed to
be the original signature of such party whose signature it reproduces, and will be binding upon such party.

 

27.
RELIANCE ON COPIES. The Parties specifically authorize Escrow Holder to accept and rely on Copies (as defined below) and Electronic
Signatures (as defined below) as originals, to open escrow and for other purposes of this Agreement. “Copies” means
a copy by any means including photocopy, facsimile and electronic. “Electronic Signatures” means an electronic signature
or Copy of a signature complying with California law. The Parties and Escrow Holder agree that electronic means will not be used
by either Party to modify or alter the content or integrity of this Agreement without the knowledge and consent of the other Party.

 

28.
BINDING EFFECT. This Agreement shall be binding upon and shall inure to the benefit of the Parties to this Agreement and their
respective successors and assigns.

 

29.
NO LEGAL ADVICE. Escrow Holder does not provide any legal or tax advice regarding this Agreement and advises the Parties to consult
their own legal or tax representative.

 

30.
DISCLOSURE OF POSSIBLE BENEFITS TO ESCROW HOLDER. As a result of Escrow Holder maintaining its general escrow accounts, special
accounts and trust accounts with the depositories, Escrow Holder may receive certain financial benefits such as an array of bank
services, accommodations, interest income, loans or other business transactions from the depositories.

 

31.
Waiver and Amendment. The provisions of this Agreement may be altered, amended, modified, revoked or supplemented, in whole
or in part, only by a writing signed by Escrow Holder and the Parties. Except as otherwise provided in this Agreement, any failure
of any party to comply with any obligation, covenant, agreement or condition herein may be waived by the party entitled to the
benefits thereof only by a written instrument signed by the party granting such waiver, but such waiver or failure to insist upon
strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect
to, any subsequent or other failure.

 

32.
No Third Party Beneficiaries. A person who is not a party to this Agreement shall have no right to enforce any term of
this Agreement. Nothing in this Agreement, whether express or implied, shall be construed to give to any person or entity other
than Escrow Agent and the Parties any legal or equitable right, remedy, interest or claim under or in respect of this Agreement
or any funds escrowed hereunder.

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Parties have executed, and Escrow Holder has accepted, these Escrow Instructions as of the date of this Agreement.

 

	BORROWER:
    		Lender:
	 	 	 	 	 
	Can
    B Corp.	 	 	 
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	Marco
    Alfonsi	 	Name:	 
	Title:	CEO	 	Title:	 
	 	 	 	 	 
	ESCROW
    HOLDER:	 	 	 
	 	 	 	 	 
	Hollywood
    Escrow, Inc.	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	Name:	 	 	 	 
	Title:Exhibit
10.8

 

GUARANTY
AGREEMENT

 

THIS
GUARANTY AGREEMENT (this “Guaranty”) is entered into as of December 10, 2020 by and among each of the parties
identified as a Guarantor on the signature pages hereto (each, a “Guarantor”, and collectively, the “Guarantors”),
in favor of the purchasers signatory to the Securities Purchase Agreements (as defined below) (together with their respective
successors and assigns, including, any future holder of the Notes (as defined below), the “Holders”). Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Securities Purchase Agreements (as
defined below).

 

RECITALS

 

WHEREAS,
pursuant to a Securities Purchase Agreement, dated as of the date hereof (as amended and in effect from time to time, including
any replacement agreement therefor, the “Securities Purchase Agreement”), among the Company and the Holders,
the Holders have extended credit to the Company as evidenced by certain Senior Secured Convertible Notes in the aggregate principal
amount of $2,777,778.00 issued by the Company to the Holders (together with any notes issued in exchange therefor or replacement
thereof or any additional investment made by the Holders and as the same may be amended, supplemented, restated or otherwise modified
from time to time, the “Senior Notes”); and

 

WHEREAS,
each Guarantor will derive substantial direct and indirect benefit from the provision of the loans evidenced by the Notes.

 

NOW,
THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

 

1.
The Guaranty. Each Guarantor hereby guarantees, as a co-obligor and not merely as surety, to the Holders, the prompt payment
of all Liabilities (including without limitation principal, premium if any, and interest (including all interest that accrues
after the commencement of any proceeding under Applicable Insolvency Laws of the Company or any Guarantor (the Company and
each Guarantor collectively referred to herein as the “Note Parties” and each individually, a
“Note Party”) at the rate provided in the respective Transaction Document, whether or not a claim for
post-petition interest is allowed in such proceeding under Applicable Insolvency Laws) on the Notes, and all obligations
which, but for the automatic stay under 11 U.S.C. Section 362 (or similar successor statute), would become due), whenever
arising, in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise in accordance
with any Transaction Document) strictly in accordance with the terms thereof (hereinafter, collectively, the
“Guaranteed Obligations”). Each Guarantor hereby further agrees that if any of the Guaranteed Obligations
are not paid in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise in
accordance with any Transaction Document), such Guarantor will promptly pay the same, without any demand or notice
whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the
same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration or
otherwise in accordance with any Transaction Document) in accordance with the terms of such extension or renewal. This
Guaranty is a guaranty of payment and not of collection. This Guaranty is a continuing guaranty and shall apply to all
Guaranteed Obligations whenever arising.

 

2. Joint
and Several Liability.

 

(a) Each of the Guarantors is accepting joint and several liability hereunder in consideration
of the financial accommodations to be provided by the Holders under the Transaction Documents, for the mutual benefit, directly
and indirectly, of each of the Note Parties and other Guarantors (if any) and in consideration of the undertakings of each of
the Guarantors to accept joint and several liability for the obligations of each of the Note Parties.

 

    	-1-

    	 

    

 

(b)  Each of the Guarantors jointly and severally hereby irrevocably and unconditionally
accepts, not merely as a surety but also as a co-obligor, joint and several liability with the other Guarantors with respect to
the payment and performance of all of the Guaranteed Obligations, it being the intention of the parties hereto that all the Guaranteed
Obligations shall be the joint and several obligations of the Guarantors without preferences or distinction among them.

 

(c)  If and to the extent that any of the Note Parties or Guarantors shall fail to make any
payment with respect to any of the Guaranteed Obligations as and when due or to perform any of the Guaranteed Obligations in accordance
with the terms thereof, then in each such event, the other Guarantors will make such payment with respect to, or perform, such
Guaranteed Obligation.

 

3. Obligations
Unconditional. The obligations of each of the Guarantors under Section 1 hereof are absolute and unconditional, irrespective
of the value, genuineness, validity, regularity or enforceability of any of the Transaction Documents, or any other agreement
or instrument referred to therein, or any substitution, release or exchange of any other guaranty of or security for any of the
Guaranteed Obligations, and, to the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever
which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor other than payment in full
of the Guaranteed Obligations (other than contingent indemnification obligations to the extent no claim giving rise thereto has
been asserted) and termination of the Purchase Agreements in accordance with their terms, it being the intent of this Section
3 that the obligations of each Guarantor hereunder shall be absolute and unconditional under any and all circumstances. Each
Guarantor agrees that it shall have no right of subrogation, indemnity, reimbursement or contribution against any Note Party for
amounts paid under this Guaranty until the Guaranteed Obligations are paid in full (other than contingent indemnification obligations
to the extent no claim giving rise thereto has been asserted) and the Purchase Agreements have terminated in accordance with its
terms. Without limiting the generality of the foregoing, it is agreed that, to the fullest extent permitted by applicable law,
the occurrence of any one or more of the following shall not alter or impair the liability of any Guarantor hereunder which shall
remain absolute and unconditional as described above:

 

(a) at
any time or from time to time, without notice to any Guarantor, the time for any performance of or compliance with any of the
Guaranteed Obligations shall be extended, or such performance or compliance shall be waived;

 

(b) any
of the acts mentioned in any of the provisions of any of the Purchase Agreements, the Transaction Documents, or any other agreement
or instrument referred to in the Purchase Agreements or the Transaction Documents shall be done or omitted;

 

(c) the
maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be modified, supplemented
or amended in any respect, or any right under any of the Purchase Agreements, the Transaction Documents, or any other agreement
or instrument referred to in the Purchase Agreements or the Transaction Documents shall be waived or any other guarantee of any
of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with,
in each case, in accordance with the Transaction Documents; or

 

(d) any
of the Guaranteed Obligations shall be determined to be void or voidable (including, without limitation, for the benefit of any
creditor of any Guarantor) or shall be subordinated to the claims of any Person (including, without limitation, any creditor of
any Guarantor).

 

    	-2-

    	 

    

 

4. Reinstatement.
The obligations of each Guarantor under this Guaranty shall be automatically reinstated if and to the extent that for any reason
any payment by or on behalf of any Person in respect of the Guaranteed Obligations is rescinded or must be otherwise restored
by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or
otherwise, and each Guarantor agrees that it will indemnify each Holder on demand for all reasonable out-of-pocket costs and expenses
(including, without limitation, reasonable fees and out-of-pocket expenses of counsel) incurred by any Holder in connection with
such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such
payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law.

 

5. Certain
Additional Waivers. With respect to its obligations hereunder, each Guarantor hereby expressly waives diligence, presentment,
demand of payment, protest and all notices whatsoever, to the extent permitted by applicable law, and any requirement that any
Holder exhaust any right, power or remedy or proceed against any Person under any of the Purchase Agreements, the Transaction
Documents or any other agreement or instrument referred to in the Purchase Agreements or the Transaction Documents, or against
any other Person under any other guarantee of, or security for, any of the Guaranteed Obligations.

 

6. Remedies.
Each Guarantor agrees that, to the fullest extent permitted by applicable law, as between such Guarantor and the Holders, the
Guaranteed Obligations may be declared to be forthwith due and payable for purposes of Section 1 hereof notwithstanding
any stay, injunction or other prohibition preventing such declaration (or preventing the Guaranteed Obligations from becoming
automatically due and payable) as against any other Person and that, in the event of such declaration (or the Guaranteed Obligations
being deemed to have become automatically due and payable), the Guaranteed Obligations (whether or not due and payable by any
other Person) shall forthwith become due and payable by the Guarantors for purposes of said Section 1.

 

7. Limitation
on Guaranteed Obligations. Notwithstanding any provision to the contrary contained herein or in any other of the Transaction
Documents, the obligations of each Guarantor hereunder shall be limited to an aggregate amount equal to the largest amount that
would not render its obligations hereunder subject to avoidance under applicable law (whether federal or state and including,
without limitation, 11 U.S.C. Section 548 (or similar successor statute)), after taking into account, among other things, such
Guarantor’s right of contribution and indemnification from each other Guarantor under applicable law.

 

The
Guarantors hereby agree, as among themselves, that if any Guarantor shall become an Excess Funding Company (as defined below),
each other Guarantor shall, on demand of such Excess Funding Company (but subject to the next sentence hereof and to subsection
(B) below), pay to such Excess Funding Company an amount equal to such Guarantor’s Pro Rata Share (as defined below and
determined, for this purpose, without reference to the properties, assets, liabilities and debts of such Excess Funding Company)
of such Excess Funding Company’s Excess Payment (as defined below). The payment obligation of any Guarantor to any Excess
Funding Company under this Section 7 shall be subordinate and subject in right of payment to the prior payment in full
of the Guaranteed Obligations of such Guarantor under the other provisions of this Guaranty, and such Excess Funding Company shall
not exercise any right or remedy with respect to such excess until payment and satisfaction in full of all of such Guaranteed
Obligations. For purposes hereof, (i) “Excess Funding Company” means, in respect of any Guaranteed Obligations
arising under the other provisions of this Guaranty (hereafter, the “Joint Obligations”), a Guarantor that
has paid an amount in excess of its Pro Rata Share of the Joint Obligations; (ii) “Excess Payment” means, in
respect of any Joint Obligations, the amount paid by an Excess Funding Company in excess of its Pro Rata Share of such Joint Obligations;
and (iii) “Pro Rata Share”, for the purposes of this Section 7, means, for any Guarantor, the ratio
(expressed as a percentage) of (A) the amount by which the aggregate present fair salable value of all of its assets and properties
exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated
liabilities, but excluding the obligations of such Guarantor hereunder) to (B) the amount by which the aggregate present fair
salable value of all assets and other properties of such Guarantor and all of the other Note Parties exceeds the amount of all
of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations
of such Guarantor and the other Note Parties hereunder) of such Guarantor and all of the other Note Parties, all as of the Closing
Date (if any Guarantor becomes a party hereto subsequent to the Closing Date, then for the purposes of this Section 7 such
subsequent Guarantor shall be deemed to have been a Guarantor as of the Closing Date and the information pertaining to, and only
pertaining to, such Guarantor as of the date such Guarantor became a Guarantor shall be deemed true as of the Closing Date).

 

    	-3-

    	 

    

 

8. Representations.

 

(a) Each
Guarantor hereby represents and warrants that it is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its formation or incorporation and in each other jurisdiction in which the failure to be so qualified could reasonably
be expected to have a Material Adverse Effect.

 

(b) Each
Guarantor further represents and warrants that it has the power and authority to enter into this Guaranty and to perform its obligations
and to consummate the transactions contemplated hereby and has by proper action duly authorized the execution and delivery of
this Guaranty.

 

(c) Each
Guarantor further represents and warrants that this Guaranty constitutes the legal, valid and binding obligation of such Guarantor
enforceable in accordance with its terms, subject to bankruptcy laws and other similar laws of general application affecting rights
of creditors and subject to the application of the rules of equity, including those respecting the availability of specific performance.

 

(d) Each
Guarantor further represents and warrants that it has knowledge of the other Note Parties’ financial condition and affairs
and represents and agrees that it will keep so informed while this Guaranty is in force. Each Guarantor agrees that no Holder
will have any obligation to investigate the financial condition or affairs of the other Note Parties for the benefit of such Guarantor
nor to advise such Guarantor of any fact respecting, or any change in, the financial condition or affairs of the other Note Parties
which might come to the knowledge of the Holders at any time, whether or not any Holder knows or believes or has reason to know
or believe that any such fact or change is unknown to such Guarantor or might (or does) materially increase the risk of such Guarantor
as a guarantor or might (or would) affect the willingness of such Guarantor to continue as a guarantor with respect to the Guaranteed
Obligations.

 

9. Incorporated
Provisions. Each Guarantor acknowledges, agrees to, and agrees to perform, as applicable, all of the representations, warranties,
covenants, waivers and other provisions pertaining to it as a Guarantor or Subsidiary contained in any Transaction Document.

 

10. Amendment.
This Guaranty may be amended or modified only in a writing executed by the parties hereto.

 

11. Termination.
This Guaranty shall terminate automatically upon the indefeasible payment in full in cash of the Guaranteed Obligations. Upon
the sale, transfer, conveyance or other disposition of all of the equity interests of any Guarantor in a transaction permitted
pursuant to the Transaction Documents (other than to a Note Party) and the application of the proceeds thereof as provided in
the Transaction Documents, such Guarantor shall cease to be a “Guarantor” for purposes of the Transaction Documents
and shall be released from its obligations hereunder.

 

    	-4-

    	 

    

 

12.Counterparts.
This Guaranty may be executed in any number of counterparts, each of which where so executed and delivered shall be an original,
but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Guaranty to produce
or account for more than one such counterpart. Facsimile or electronic transmissions of any executed original document and/or
retransmission of any executed facsimile or electronic transmission shall be deemed to be the same as the delivery of an executed
original. At the request of any party hereto, the other parties hereto shall confirm such transmissions by executing duplicate
original documents and delivering the same to the requesting party or parties.

 

13. Headings.
The headings of the sections and subsections hereof are provided for convenience only and shall not in any way affect the meaning,
construction or interpretation of any provision of this Guaranty.

 

14. Governing
Law; Submission to Jurisdiction; Waiver of Jury Trial; Notice THIS GUARANTY AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY, CONSTRUED IN ACCORDANCE WITH, AND ENFORCED UNDER, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. THE
PROVISIONS OF THE PURCHASE AGREEMENTS RELATING TO SUBMISSION TO JURISDICTION, WAIVER OF JURY TRIAL AND VENUE ARE HEREBY INCORPORATED
BY REFERENCE HEREIN, MUTATIS MUTANDIS.

 

15. Entirety.
This Guaranty represents the entire agreement of the parties hereto and thereto, and supersedes all prior agreements and understandings,
oral or written, if any, including any commitment letters or correspondence relating to the transactions contemplated herein.

 

16. Holder
Assigns. This Guaranty is intended for and shall inure to the benefit of each and every person who shall from time to time
be or become the owner or holder of (or participant in) any of the Guaranteed Obligations, and each and every reference herein
to a “Holder” shall include and refer to each and every successor or assignee of a Holder, as applicable, at any time
holding or owning any part of or interest (or participation) in any part of the Guaranteed Obligations. Each Holder shall be entitled
to rely upon and be the third party beneficiary of the provisions of this Guaranty and shall be entitled to enforce the terms
and provisions hereof to the same extent as if such Holder were directly party hereto. This Guaranty shall be transferable and
negotiable by such Persons only with the same force and effect, and to the same extent, that the Guaranteed Obligations are transferable
and negotiable, it being understood and stipulated that upon assignment or transfer by any Holder of any of the Guaranteed Obligations
the legal holder or owner of said Guaranteed Obligations (or a part thereof or interest therein thus transferred or assigned by
a Holder) shall (except as otherwise stipulated by a Holder in its assignment) have and may exercise all of the rights granted
to the Holders under this Guaranty to the extent of that part of or interest in the Guaranteed Obligations thus assigned or transferred
to said person. Each Guarantor expressly waives notice of transfer or assignment of the Guaranteed Obligations, or any part thereof,
or of the rights of the Holders hereunder. Failure to give notice will not affect the liabilities of any Guarantor hereunder.

 

[Signature
Page Follows]

 

    	-5-

    	 

    

 

Each
of the parties hereto has caused a counterpart of this Guaranty to be duly executed and delivered as of the date first above written.

 

	GUARANTORS:	 
	 	 
	DURAMED
    INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	DURAMEDNJ
    LLC	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	RADICAL
    TACTICAL LLC	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	PURE
    HEALTH PRODUCTS, LLC	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	NY
    HEMP DEPOT LLC	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	GREEN
    GROW FARMS, INC.	 
	 	 
	By:	                         	 
	Name:	 	 
	Title:	 	 

 

    	-6-

    	 

    

 

Accepted
and agreed to as of the date first above written.

 

	HOLDERS:	
	 	 
	 	By:
	 
	 	Name:
    	               
	 	Title:
	 

 

    	-7-

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