Document:

Demand Promissory Note

 

Full Names: 3Forces Inc, formerly Live Inc

 

Address: 7702 E Doubletree Ranch Road, Suite 300, Scottsdale, AZ 85258 

 

(Hereinafter referred to as the Borrower)

 

Full Name: Keith Wong

 

Address: c/o 7702 E Doubletree Ranch Road, Suite 300, Scottsdale, AZ 85258

 

(Hereinafter referred to as the Lender)

 

for value received, the Borrower hereby unconditionally promises to pay to the order of Lender the sum of Thirty Seven Thousand Dollars ($37,000**) or any remaining unpaid principal thereof together with compounded interest accrued at the rate of 4 percent (4%) per quarter on any unpaid balance plus any reasonable legal and collection fees. All the other unaffected terms of this Note shall remain in full force.

 

Payable on Demand

The entire outstanding amount shall become immediately payable upon demand by the Lender or holder of this Note.

 

Place of Payment

Payment shall be made at the above stated address of the Lender or at such place as may be designated from time to time in writing by the Lender or holder of this Note. For ease of payment the Borrower may exercise the option to effect payment by direct deposit or electronic transfer of funds into the account of Lender as specified in writing.

 

Prepayment

The Borrower may prepay this Note in full or in part at any time without premium or penalty. All prepayments shall first be applied to accrued interest and thereafter to the principal loan amount.

 

Default

Should the Borrower not make full payment within five days of demand, this Note may be turned over for collection and the Borrower agrees to pay all reasonable legal fees and collection charges to the extent permissible by law, in addition to other amounts due.

 

Transfer

The Lender may transfer this Note to another holder without notice to the Borrower and the Borrower agrees to remain bound to any subsequent holder of this Note under the terms of this Note.

 

Replacement of Note

The Borrower agrees to execute a new Note with the same terms and conditions and remaining value in the event that this Note is lost, stolen or mutilated. The Lender shall release the Borrower of all obligations under the lost, stolen or mutilated Note in lieu of a replacement new Note.

 

Joint and Several Liability

All Borrowers or Co-signors identified in this Note shall be equally liable for the repayment of the debt described in this Note.

 

Borrower's Waiver

The Borrower waives presentment for payment, notice of non-payment, off-set, protest and notice of protest and agrees to remain fully bound until this Note is paid in full.

 

Lender's Indulgence

No relaxation, indulgence, waiver, release or concession of any terms of this Note by the Lender on one occasion shall be binding unless in writing and if granted shall not be applicable to any other or future occasion.

Binding Effect

The terms of this Note shall be binding upon the Borrower's successors and shall accrue to the benefit and be enforceable by the Lender and his/her successors, legal representatives and assigns.

 

Jurisdiction

This Note shall be construed, interpreted and governed in accordance with the laws of the State of Arizona and should any provision of this Note be judged by an appropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever.

 

General

Where appropriate words signifying one gender shall include the others and words signifying the singular shall include the plural and vice versa.

 

Paragraph headings are for convenience of reference only and are not intended to have any effect in the interpretation or determining of rights or obligations under this Note.

 

Signed on Sept 01, 2021

 

(1)Borrowers Name Live Inc, dba Talguu Inc 

 

	 

	Borrower's Signature: 

	 

	 

 

Name, Title: Keith Wong, CEO/CFO

 

(2)Lender’s Name, Title: Keith Wong, individual 

 

	 

	Lender’s Signature:Demand Promissory Note

 

Full Names: 3Forces Inc, formerly Live Inc

 

Address: 7702 E Doubletree Ranch Road, Suite 300, Scottsdale, AZ 85258

 

(Hereinafter referred to as the Borrower)

 

Full Name: Keith Wong

 

Address: c/o 7702 E Doubletree Ranch Road, Suite 300, Scottsdale, AZ 85258

 

(Hereinafter referred to as the Lender)

 

for value received, the Borrower hereby unconditionally promises to pay to the order of Lender the sum of Sixty Thousand Dollars ($60,000**) or any remaining unpaid principal thereof together with compounded interest accrued at the rate of 4 percent (4%) per quarter on any unpaid balance plus any reasonable legal and collection fees. All the other unaffected terms of this Note shall remain in full force.

 

Payable on Demand

The entire outstanding amount shall become immediately payable upon demand by the Lender or holder of this Note.

 

Place of Payment

Payment shall be made at the above stated address of the Lender or at such place as may be designated from time to time in writing by the Lender or holder of this Note. For ease of payment the Borrower may exercise the option to effect payment by direct deposit or electronic transfer of funds into the account of Lender as specified in writing.

 

Prepayment

The Borrower may prepay this Note in full or in part at any time without premium or penalty. All prepayments shall first be applied to accrued interest and thereafter to the principal loan amount.

 

Default

Should the Borrower not make full payment within five days of demand, this Note may be turned over for collection and the Borrower agrees to pay all reasonable legal fees and collection charges to the extent permissible by law, in addition to other amounts due.

 

Transfer

The Lender may transfer this Note to another holder without notice to the Borrower and the Borrower agrees to remain bound to any subsequent holder of this Note under the terms of this Note.

 

Replacement of Note

The Borrower agrees to execute a new Note with the same terms and conditions and remaining value in the event that this Note is lost, stolen or mutilated. The Lender shall release the Borrower of all obligations under the lost, stolen or mutilated Note in lieu of a replacement new Note.

 

Joint and Several Liability

All Borrowers or Co-signors identified in this Note shall be equally liable for the repayment of the debt described in this Note.

 

Borrower's Waiver

The Borrower waives presentment for payment, notice of non-payment, off-set, protest and notice of protest and agrees to remain fully bound until this Note is paid in full.

 

Lender's Indulgence

No relaxation, indulgence, waiver, release or concession of any terms of this Note by the Lender on one occasion shall be binding unless in writing and if granted shall not be applicable to any other or future occasion.

Binding Effect

The terms of this Note shall be binding upon the Borrower's successors and shall accrue to the benefit and be enforceable by the Lender and his/her successors, legal representatives and assigns.

 

Jurisdiction

This Note shall be construed, interpreted and governed in accordance with the laws of the State of Arizona and should any provision of this Note be judged by an appropriate court of law as invalid, it shall not affect any of the remaining provisions whatsoever.

 

General

Where appropriate words signifying one gender shall include the others and words signifying the singular shall include the plural and vice versa.

 

Paragraph headings are for convenience of reference only and are not intended to have any effect in the interpretation or determining of rights or obligations under this Note.

 

Signed on Nov 01, 2021

 

(1)Borrowers Name Live Inc, dba Talguu Inc 

 

	 

	Borrower's Signature: 

	 

	 

 

Name, Title: Keith Wong, CEO/CFO

 

(2)Lender’s Name, Title: Keith Wong, individual 

 

	 

	Lender’s Signature:EdgarFiling

EXHIBIT 10.1

 

 

SEPARATION AGREEMENT AND RELEASE

 

This Separation and Release (the “Agreement”)
is entered into this 23rd day of March, 2022, by and between THOR INDUSTRIES, INC. (“Thor”) and Josef Hjelmaker
(“Employee”).

 

W I T N E S S E T H:

 

WHEREAS, Employee has been employed by Thor;

 

WHEREAS, Employee and Thor have agreed to terminate
the employment relationship with Thor; and

 

WHEREAS, the parties acknowledge that there
are numerous laws and regulations concerning employment and that, by entering into this Agreement, Employee will waive and release any
rights, except those protected under applicable worker’s compensation laws, which he may have under these or any other laws.

 

NOW THEREFORE, in consideration of the mutual
provisions and agreements contained herein, the parties hereto agree as follows:

 

1.      Separation Date.
Unless otherwise agreed to by both Thor and the Employee, Employee hereby agrees that he is no longer employed as an employee of
Thor effective as of April 29, 2022 (“Separation Date”).

 

2.      Severance and Other Benefits.

 

a)      Severance.
In express consideration for Employee utilizing reasonable best efforts to perform all tasks assigned to him through the
Separation Date, upon the later of: (i) expiration of the seven (7) calendar day period after the execution of this Agreement; or
(ii) the first regular payroll occurring after the Separation Date, Thor shall pay, in addition to any and all compensation paid by,
or to be paid by, Thor to Employee for services performed through the Separation Date, to the sum of Two-Hundred-Fifty-Thousand
dollars ($250,000), less appropriate withholdings, in one lump-sum cash severance, in accordance with Thor’s normal payroll
sequence. Additionally, Thor will provide the employee the equivalent of 1/3 of the FY 2020 PSU grant, which otherwise would be
awarded in October 2023, in the sum of Sixty-Six-Thousand and Six-Hundred-Sixty-Seven dollars ($66,667), less appropriate
withholdings, in one lump-sum cash award. Thor will also award at vesting, the grant from September 2020 in the amount of
Two-Thousand-Three-Hundred-Seventy-Seven shares (2,377), which is scheduled to vest in September 2022. Additionally, Thor will award
the 1st tranche of Nine-Hundred-Forty-One shares (941) of the FY 2021 RSU Grant, which is scheduled to vest October 2022.
All remaining shares from the FY 2021 RSU grant will be forfeited. Thor shall not be liable for any payments, cash or otherwise,
hereunder if this Agreement is revoked pursuant to paragraph 9 of this Agreement. The lump-sum cash severance payment and PSU
settlement cash payment will be directly deposited into the bank account as Employee’s ordinary payroll. Thor will notify the
Employee when each of the award’s vest in accordance to their normal vesting schedule.

 

b)      Healthcare Coverage Continuance. Employee
shall receive separate materials that give the Employee the right to elect to continue his health insurance coverage under the Consolidated
Omnibus Budget Reconciliation Act of 1985, at his own expense, for a period of eighteen (18) months from the Separation Date. This election
must be made no later than sixty (60) days after the Separation Date.

 

c)      Deferred Compensation.If applicable,
under the Thor Industries, Inc. Deferred Compensation Plan, you may not make any further employee salary deferral contributions to the
plan after April 29, 2022. In accordance to the terms as defined in the Plan Document, you will be notified by Fidelity of your disbursal
options of all vested funds.

 

    	 	1	 

     

    

3.      No
Amounts Owing. Unless otherwise agreed to prior to the Employee’s separation date, Employee will receive his final regular pay
on April 29, 2022. The final regular pay includes payment for Employee’s accrued but unused vacation, as applicable. Additionally,
Employee will receive the FY 2022 Q3 Bonus Award on about June 15, 2022. This cash payment, less appropriate withholdings, will be directly
deposited into the bank account as Employee’s ordinary payroll. In the absence of the severance and other payment outlined above
in Paragraph 2(a), Employee acknowledges that he has received all earned wages and compensation due to him from Thor. Employee further
agrees he has submitted all reasonable and necessary business expenses incurred prior to the date of termination in accordance with Thor’s
policy.

 

4.      Release. In
consideration of the severance payment and the other promises contained herein, and as a material inducement to Thor to enter into
this Agreement, Employee, on behalf of himself, his heirs, administrators, executors, agents, and assigns, forever release and
discharges Thor, its officers, directors, employees, subsidiaries, affiliates, successors, attorneys, and assigns from any and all
charges, claims, demands, judgments, actions, causes of action, damages, expenses, costs, attorney fees, and liabilities of any kind
whatsoever, whether known or unknown, vested or contingent, in law, equity, or otherwise, which Employee has ever had, now has, or
may hereafter have against Thor and for or on account of any matter, cause, or thing whatsoever which has occurred or will occur
before the Separation Date, including without limitation of the generality of the foregoing, any and all claims which are related to
the employment of Employee with Thor and the termination thereof, or any claim for salary, bonus, back pay, vacation pay, sums
owing, or any other loss or damage of any form whatsoever, including any and all rights which Employee has or may have under the Age
Discrimination in Employment Act of 1967, the Older Worker’s Benefits Protection Act, Title VII of the Civil Rights Act of
1991, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, the Family Medical Leave Act of
1993, and other federal and state statutes which regulate employment and the laws of contract, torts, and other subjects; provided,
however, this Agreement shall not release Employee’s rights under Indiana Workers Compensation laws, if any.

 

5.      Trade Secrets; Thor
Property. Employee agrees to not disclose any confidential or proprietary information of Thor to any person, firm,
corporation, association, or other entity for any reason or purpose whatsoever. Confidential and proprietary information shall mean
such information not generally known to the public that has been created by or disclosed to Employee as a consequence of
Employee’s employment by Thor. Confidential Information includes any confidential and/or proprietary knowledge, data, or
information owned, developed, or acquired by Company relating to Company or Company’s business, Customers, vendors, products,
processes, know-how, designs, methods, research and development, data drawings, worksheets, concepts, inventions, improvements,
marketing plans, business plans, budgets, unpublished financial statements, licenses, prices, costs, suppliers, and personnel.
Employee shall return all Thor property in his possession, including, but not limited to, any keys, credit cards, cell phones,
computers, printers, records, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials,
equipment, documents, property, computer hardware and software, computer programs, or reproductions of any aforementioned items
belonging to Thor.

 

6.      Confidentiality
and Nondisparagement. Employee agrees that he shall not disparage Thor, its executive management, its Board, or any other
employee or the business of Thor more generally.

 

7.      Non-Solicitation and Non-Compete.
Employee agrees to the following non-solicitation covenants for one (1) year after the Separation Date.

 

    	 	2	 

     

    

7.1 Customer non-solicitation. Employee shall not, whether
directly or indirectly, solicit any of Company’s Customers or Company’s vendors with whom Employee had material contact during
Employee’s employment with Company for the purpose of conducting any business with them which is substantially similar to the Business
conducted or anticipated to be conducted by Company during Employee’s employment. “Material contact” means (1)
actual contact with Customers or vendors, such as through the provision of services or sales visits or calls, (2) coming to know confidential
information about a Company Customer or vendor, such as by obtaining pricing and sales information, or directing or coordinating other
employees in calling, servicing, or soliciting Customers.

 

7.2 Employee non-solicitation. Employee shall not, directly
or indirectly, solicit or induce any person employed by Company (and in whom Company has a legitimate protectible interest) or any person
retained by Company as an independent contractor with whom Employee had business dealings or contact or about whom Employee acquired Confidential
Information during Employee's employment with Company, to terminate an employment relationship or contract with Company or to obtain employment
with another entity or person besides Company.

 

7.3 Interference with Business. Employee shall not, whether
directly or indirectly, undertake any act with the intent to disrupt, impair, or interfere with the business of Company in any way, whether
by way of interfering with or disrupting its relationships with Customers, agents, representatives, contractors, or suppliers, or otherwise.

 

7.4 Non-competition after employment. Non-competition after
employment. Non-competition after employment. For one (1) year following the Separation Date, Employee may not become employed
by, any business which is in the business manufacturing, supplying, marketing and sale of recreational vehicles (“RV”) throughout
North America and Europe, identified in Exhibit A which Employee agrees is a range of territory over which his job experience with Company
has given him influence, and will otherwise refrain from providing any such services to or for the benefit of any RV OEM whether
employed by the OEM or another firm providing such services to the OEM.

 

7.5 Competitive Business. For one (1) year following the
termination of Employee's employment, Employee will not, directly or indirectly, on Employee's own behalf or in connection with any other
person, set up, establish, or otherwise hold more than a Passive Investment in any business entity that manufacturers, produces, exports,
imports, distributes, or otherwise sells recreational vehicles and/or related goods or services.

 

7.6 Passive investment. Nothing in this Section 4 shall
be deemed to prevent Employee from purchasing or owning, directly or beneficially, as a passive investment, less than one (1) % of any
class of the publicly traded securities of any corporation.

 

8.      Free
Act and Deed. Employee states that he has carefully read this Agreement, knows the contents hereof, and that Employee has
executed the same voluntarily as his own free act and deed. Thor states that it has carefully read this Agreement, knows the
contents thereof, and that it has executed the same as its own free act and deed.

 

9.      Advice of Counsel.
Employee acknowledges that Thor has advised Employee to consult with an attorney before executing this Agreement. Employee
acknowledges that he has had the opportunity to ask questions about each and every provision of this Agreement and that Employee
fully understands the effect of the provisions contained herein and Employee’s legal rights.

 

10.      Revocation Period; Acknowledgements. Employee represents
and acknowledges to Thor that:

 

    	 	3	 

     

    

(a)      Thor has
reviewed the contents of the Agreement with Employee and advised his that he has a reasonable time, up to and including twenty-one (21)
days, to consider whether or not to sign this Agreement.

 

(b)      Employee
was advised by Thor that he has seven (7) calendar days from the date of execution of this Agreement within which to revoke this Agreement
and that all waivers, covenants-not-to-sue, and releases would not be effective until after seven (7) calendar days from the date of this
Agreement. If he exercises his right to revoke this Agreement, written notice must be made to Ken Julian, Sr. Vice President of Administration
and Human Resources, Thor Industries, Inc. 601 E. Beardsley Avenue, Elkhart, Indiana 46514 within the seven (7) calendar day period.

 

(c)      If he revokes
this Agreement, all consideration agreed to by Thor herein will be forfeited and this Agreement will become null and void and unenforceable
by either him or Thor.

 

(d)      He has not
filed any claims or complaints with a court or administrative agency against Thor on or prior to the date of signing this Agreement.

 

(e)      In executing
this Agreement, he represents that he has entered into this Agreement knowingly, voluntarily, and with full knowledge and understanding
of the provisions of this Agreement, including the rights he is waiving under the Age Discrimination in Employment Act of 1967, the Older
Worker’s Benefits Protection Act, the Americans with Disabilities Act, Title VII of the Civil Rights Act, the Family and Medical
Leave Act, Employee Retirement Income Security Act of 1974, any federal, state, local laws, rules, and regulations, and any common law
in the State of Indiana, except for applicable worker’s compensation laws.

 

(f)      Thor is under no obligation to offer the payment set forth in
Section 2 above and Employee is under no obligation to accept the payment or consent to this Agreement. 

 

(g)      By entering
into this Agreement, he is not relying on any statements or representations made by Thor, its officers, directors, shareholders, or employees
that are not incorporated into this Agreement. Rather, he is relying upon his own judgment and the advice of counsel where he has elected
to utilize independent counsel.

 

11.      Entire
Agreement. This Agreement represents a complete understanding between the parties, supersedes any and all other agreements and understandings,
whether oral or written, and may not be modified, altered, or changed except upon written consent of the parties.

 

12.      Governing Law. This Agreement shall be governed and
construed in accordance with laws of the State of Indiana without giving effect to the principles of conflicts of law thereof.

 

13.      No other Compensation. This Agreement and the separation
payment referenced in paragraph 2 above are in lieu of any other compensation, bonus, benefit, separation pay, severance pay, holiday
pay, or notice pay which Employee might otherwise receive.

 

14.      Non-Admission of Liability. It is agreed and understood
that neither the offer nor any negotiations or proceedings connected herewith nor the execution of this Agreement nor the payment of money
shall constitute or be construed as an admission of any liability to, or of the validity of, any claims whatsoever. It is understood and
agreed by Employee that by entering into this Agreement, Thor does not admit to having committed any violation of any rights Employee
has or may have under any federal statute, state statute, local ordinance, or common law claim of the State of Indiana.

 

    	 	4	 

     

    

IN WITNESS WHEREOF, this Agreement has been
executed on the date and year set forth above effective on the 23rd day of March.

 

 

 

THOR INDUSTRIES, INC.

 

 

 

By:   /s/ Ken Julian____________________________________

Ken
Julian

 

 

 

Its: Sr. Vice President Administration/Human Resources

 

 

 

EMPLOYEE

 

 

 

By:   /s/ Josef Hjelmaker_______________________________

Josef Hjelmaker

 

 

 

 

 

 

 

 

 

 

    	 	5	 

     

    

 

EXHIBIT A

 

 

 

 

	Alabama

Alaska

Arizona

Arkansas

California

Colorado

Connecticut

Delaware

District of Columbia

Florida

Georgia

Hawaii

Idaho

Illinois

Indiana

Iowa

Kansas

Kentucky

Louisiana

Maine

Maryland

Massachusetts

Michigan

Minnesota

Mississippi

Missouri

	Montana

Nebraska

Nevada

New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota

Ohio

Oklahoma

Oregon

Pennsylvania

Rhode Island

South Carolina

South Dakota

Tennessee

Texas

Utah

Vermont

Virginia

Washington

West Virginia

Wisconsin

Wyoming

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