Document:

WSTL-EX10.2OfferLetterSkurla

Exhibit 10.1

September 16, 2014

Mark Skurla

Dear Mark,

I am very pleased to offer you the position of Senior Vice President, Worldwide Sales
for Westell Technologies, Inc. (the “Company”), reporting to me. 

Your starting salary for this position will be $10,000 per pay period (equivalent to
$260,000 annually), plus a variable compensation target of $156,000.  Variable
compensation is paid annually subject to the terms and conditions of the Westell
Technologies, Inc. and Subsidiaries Performance Bonus Plan, Consolidated Company
Plan, FY2015 (“Bonus Plan”).  Eligibility for the Bonus Plan will begin immediately upon
your hire date.  Any payouts will be pro-rated based on your start date within the fiscal
year.  The fiscal year began on April 1, 2014 and ends March 31, 2015.  

Additionally, for FY2015 only, we have also agreed to guarantee a minimum bonus
payment.  This minimum bonus payment will be equivalent to your variable
compensation target, prorated for the remainder of FY2015, with a maximum guarantee
of $78,000.  

Any Bonus Plan payments (including the guaranteed portion) are scheduled to be
distributed in May 2015, subject to final approvals by the Board of Directors and its
Audit Committee and Compensation Committee.  You must be actively employed at the
time of the payout to receive this bonus payment. 

We are excited to have you join us and will need to determine a mutually acceptable
start date with Westell.  In addition to the compensation noted above, and after your
start date and upon final approval of the Board of Directors, you will be awarded a grant
of Restricted Stock Units (RSU’s) for the equivalent of 220,000 shares of Company
stock.  Please note that the RSU’s will vest at 25% each year upon the anniversary of
their grant.  Any grants issued will follow the guidelines set forth in the Westell
Technologies, Inc. 2004 Stock Incentive Plan.  

We also would like to offer you five weeks of Paid Time Off (PTO), which accrues
ratably over the calendar year.  We will provide you advance information on Westell’s
other employee benefits, which will be reviewed with you during Orientation.  Eligibility
for the benefits program begins the first of the month after your date of hire.  On your
start date, we will also ask you to sign the attached Confidential Information, Invention

Assignment, and Non-Solicitation Agreement.  Please let us know in advance any
questions that you may have on this agreement.

This offer is contingent upon Westell Technologies, Inc. Board approval, satisfactory
completion of reference checks and our review of your completed D&O questionnaire,
as well as the successful completion of a pre-employment drug screening and a criminal
background check.  This offer of employment is not a contract for employment for any
set period of time.  All of the compensation and benefit items that make up your terms
and conditions of employment are extended with the rights as well as customary
conditions of the Westell policies that govern them.  If you have any questions regarding
benefits, please contact me or our Director of Human Resources, Sharon Hintz, at 630-
375-4160 or SHintz@westell.com.

We are very excited about the prospect of you re-joining the Westell team.  We are
confident that you will bring a wealth of capabilities and values that are consistent with
our plans to establish, develop and grow a world-class company.

If this is acceptable to you, please return a scanned or facsimile copy to me, as
acceptance of this offer.  As you know, upon your acceptance we will proceed with a
press release and any related SEC filings. 
Welcome back to Westell! 

Sincerely,                        

/s/ Richard S. Gilbert

Richard S. Gilbert                    
President and Chief Executive Officer    

Accepted:

/s/ Mark Skurla            09/21/14
_____________________       ____________
Mark Skurla                (date)EX-10.1

 EXHIBIT 10.1 

AMENDMENT NO. 3 TO 

AMENDED AND RESTATED LICENSE AGREEMENT 

This Amendment No. 3 to the Amended and Restated License Agreement (this “Amendment No. 3”), is entered into by and
between Immersion Software Ireland Limited (“Immersion Ireland”), an Irish company and a wholly owned subsidiary of Immersion Corporation, a Delaware corporation (“Immersion Corporation,” and
collectively with Immersion Ireland, “Immersion”), and Samsung Electronics Co., Ltd., a South Korean corporation with principal offices located at 416 Maetan-3dong, Yeongtong-gu, Suwon-si, Gyeonggi-do, 443-742 Korea for
itself and on behalf of its Affiliates (collectively “Samsung”), effective as of the date that the last party executes this Agreement (the “Third Amendment Date”). This Amendment No. 3 amends that
certain Amended and Restated License Agreement, effective as of January 1, 2013, by and between Immersion and Samsung, as amended heretofore (the “Agreement”). Capitalized terms used, but not defined, in this Amendment No. 3,
shall have the same meaning ascribed to them in the Agreement. 
 WHEREAS, the parties wish to amend the Agreement to grant licenses set forth in the
Agreement with respect to Samsung Branded Office Printers (as defined herein) on the terms and conditions set forth in this Amendment No. 3. 
 NOW,
THEREFORE, in accordance with Section 14.9 of the Agreement, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby amend the Agreement as follows: 

1. Addition of Samsung Branded Office Printers to the Agreement. 

a. Addition of Definitions. The parties hereby amend the Agreement by adding a new Sections 1.75 and replacing the definition of
Licensed TouchSense Device as follows: 
 “1.75 “Samsung Branded Office Printers” shall mean office printers
that are marketed and sold under Samsung’s brand to end users of such products.”” 
 “1.43 “Licensed
TouchSense Device” shall mean a Samsung Branded Mobile Device and/or a Samsung Branded Office Printer that incorporates Licensed Software in compliance with the terms and conditions of this Agreement.”” 

This Amendment No. 3 supersedes all prior discussions and understandings between the parties with respect to the matters set forth herein. Except as expressly
modified and amended in this Amendment No. 3, all other provisions of the Agreement shall remain in full force and effect and unchanged and are ratified hereby. In the event of any inconsistency or conflict between the Agreement and this Amendment
No. 3, the terms, conditions and provisions of this Amendment No. 3 shall govern and control. This Amendment No. 3 may be executed (including, without limitation, by facsimile signature or PDF) in counterparts, with the same effect as if the
parties had signed the same document. Each counterpart so executed shall be deemed to be an original, and all such counterparts shall be construed together and shall constitute one agreement. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the authorized representatives of the parties hereto have signed this
Amendment No. 3 effective as of the Third Amendment Date.
  

			
	Immersion Software Ireland Limited	 	Immersion Corporation
		
	By:                   /s/ LIAM
GRAINGER                            	 	By:             /s/ Victor
Viegas                                      
		
	Name:           LIAM
GRAINGER                                    	 	Name:           VICTOR
VIEGAS                                
		
	Title:
              DIRECTOR                         
                     	 	Title:             President and
CEO                                
		
	Date signed:               AUGUST 14,
2014                        	 	Date signed:         AUGUST 14,
2014                        
		
	Samsung Electronics Co., Ltd.	 	
		
	By:             /s/ WON HYUN
CHO                                  	 	
		
	Name:           WON HYUN
CHO                                    	 	
		
	Title:
            Director                           
                           	 	
		
	Date signed:           August 12,
2014                               	 	

  
  

			
	Amendment No. 3 to Amended and Restated License Agreement	  	Page 2 of 2Exhibit 4.1

INERGETICS, INC

  

CONVERTIBLE DEBENTURE

 

	$165,000.00	October 27, 2014

 

THIS DEBENTURE HAS NOT BEEN REGISTERED
PURSUANT TO THE SECURITIES ACT OF 1933 (THE "ACT") OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AS TO THIS DEBENTURE OR AN OPINION
OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

THE ORIGINAL ISSUE DISCOUNT MAY BE PRORATED
IF THE CONSIDERATION ACTUALLY PAID BY THE LENDER IS LESS THAN THE DISCOUNTED AMOUNT IN THIS CASE, THE BORROWER IS ONLY REQUIRED
TO REPAY THE AMOUNT FUNDED PLUS THE PRORATED ORIGINAL ISSUE DISCOUNT, THE ACCRUED INTEREST AND THE APPLICABLE FEES.

 

FOR VALUE RECEIVED,
the undersigned, Inergetics, Inc, a Delaware corporation (the "Company"), hereby promises to pay to Macallan Partners,
LLC (the "Lender"), or its registered assigns, the principal sum of ONE HUNDRED SIXTY FIVE THOUSAND dollars ($165,000.00)
(or so much thereof as shall have been advanced by the Lender to the Company hereunder subject to an approximate Original Issue
Discount of 9.09%, together with interest (computed on the basis of a three hundred sixty (360) day year of twelve (12) thirty
(30) day months) on the unpaid principal balance of this Debenture from the date of this Debenture until paid, at the rate of Four
percent (4%) per annum. The total amount that the Lender shall provide to the Borrower under this Agreement shall be $150,000
(the “Discounted Amount”). The Discounted Amount shall be paid by Lender, as follows: $150,000 in cash.. All
installments shall be payable under a full recourse Convertible Debenture for $165,000 (the “Debenture”).

 

		1.	PAYMENT.

 

(a)          Payments of the
principal of and interest on this Debenture shall be made in lawful money of the United States of America at the current address
of the registered holder of this Debenture as recorded in the Company’s books.

 

(b)          Interest accruing
on the outstanding principal balance of this Debenture during the term of this Debenture shall be paid at the Maturity Date, which
shall be October 30, 2015. Upon the occurrence of any Event of Default (as such term is defined hereinafter) and acceleration of
the indebtedness hereunder, or after the Maturity Date (including without limitation any time from and after the entry of a judgment
for sums due), any unpaid principal of this Indenture shall bear interest at the rate of eighteen percent (18%) per annum until
paid. There shall be a 10 day grace period for payments to be made hereunder (but interest shall be computed to the actual date
of payment).

 

    	1

    	 

    

 

(c)          The outstanding
principal balance of this Debenture, together with all accrued but unpaid interest thereon, may be prepaid, at the Company's option
at any time prior to the Maturity Date, provided that the Company shall give written notice of any such prepayment to the registered
holder of this Debenture no later than ten (10) days prior to the date the Company intends to make the prepayment (the “Prepayment
Date”). Such amount must be paid in cash on the next business day following the expiration of the 10 business day notice
period. Notwithstanding the Company’s notification of prepayment, the Lender may still convert any remaining balance of this
Debenture pursuant to its terms until full prepayment has occurred. Upon the Prepayment Date the Company shall pay a prepayment
penalty on the outstanding principal balance plus all accrued and unpaid interest thereon and any applicable fees and expenses
(the “Prepayment Penalty”). Upon the Prepayment Date the Company shall pay a prepayment penalty based upon the following
schedule: If prepayment is made any time while the Debenture is outstanding then 130% of the outstanding principal balance plus
all accrued and unpaid interest thereon will be due (the “Prepayment”).

 

		2.	REGISTRATION AND TRANSFER.

 

(a)          The Company shall
maintain at its principal executive offices a register for this Debenture, in which the Company shall record the name and address
of the person in whose name this Debenture has been issued and the name and address of each transferee and prior owner thereof.
The Company may deem and treat the person in whose name this Debenture is so registered as the holder and owner thereof for all
purposes and all notices hereunder to the registered holder may be to the address indicated on such register.

 

(b)          This Debenture
may be transferred only by the surrendering thereof for registration of transfer duly endorsed, or accompanied by a written instrument
of transfer duly executed, by the registered holder. The Company may condition its registration of such transfer upon (a) the opinion
of counsel reasonably acceptable to the Company that the transfer of this Debenture does not violate the Act or any state securities
or blue sky laws,(b) the payment to it of a sum sufficient to cover any stamp tax or other governmental charge imposed in respect
of such transfer and (c) the transferee is an “Accredited Investor” as defined under the Act.

 

		3.	COMMON STOCK CONVERSION RIGHTS AND SHARE RESERVATION
RIGHTS.

 

(a)          The Lender has
the right, at any time after six months from the date of this Debenture, subject to the requirements of Section 6(f), at its election,
to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) under any convertible
balance due by the Company, into fully paid and non-assessable shares of common stock of the Company as per this conversion formula:
Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion
price is equal to the lower of: 55% of the lowest traded price during the 15 trading days prior to the election to convert or 55%
of the bid price on the date of the election to convert. If conversion shares are not deliverable by DWAC then an additional
5% discount will apply to the conversion price. If the shares are ineligible for deposit into the DTC system for any reason and
only eligible for “X clearing” then an additional 10% discount will apply to the conversion price. If the Company’s
common stock price closes below 0.005 at any time while this Debenture is outstanding then an additional 15% discount will apply
to the conversion price. However, if the Company’s common stock price at any time loses “the bid” (ex: .0001
on “the ask” with zero market makers on the bid as per level 2 quotations), then the conversion price may, in the Lender’s
sole and absolute discretion, be reduced to a fixed price equal to par value. Notice of Lender’s conversion may be delivered
to Borrower by method of Lender’s choice (including but not limited to email, facsimile, mail, overnight courier, or personal
delivery), and all conversions shall be cashless and not require further payment from the Lender. If no objection is delivered
from Borrower to Lender regarding calculations in the conversion notice within 24 hours of delivery of the conversion notice, the
Company shall have been thereafter deemed to have irrevocably confirmed and irrevocably ratified such conversion notice and waived
any objection thereto. The Company shall deliver the shares from any conversion to Lender (in any name directed by Lender) within
2 (two) business days of conversion notice delivery. At no time will the lender convert any amount of the Debenture into common
stock that would result in the lender owning more than 4.99% of the company’s common stock outstanding.

 

    	2

    	 

    

 

(b)          Insufficient
Authorized Shares. If at any time while the Debenture remains outstanding the Company does not have a sufficient number of
authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance upon conversion of the Debenture
at least [                                                 ] shares of Common Stock (an “Authorized Share Failure”), then the Company shall
immediately take all action necessary to increase the Company’s authorized shares of Common Stock to an amount sufficient
to allow the Company to reserve the Required Reserve Amount for the Debenture(s) then outstanding. Without limiting the generality
of the foregoing sentence, as soon as practicable after the date of the occurrence of an Authorized Share Failure, but in no event
later than twenty (20) days unless a greater time is required to comply with the proxy rules under the Securities Exchange Act
of 1934, as amended, after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its stockholders
for the approval of an increase in the number of authorized shares of Common Stock.  In connection with such meeting, the
Company shall provide each stockholder with a proxy statement and shall use its reasonable best efforts to solicit its stockholders’
approval of such increase in authorized shares of Common Stock and to cause its board of directors to recommend to the stockholders
that they approve such proposal. 

 

(c)          In the event that
the outstanding shares of the common stock subject to the conversion are changed into or exchanged for a different number or kind
of shares of the Company or other securities of the Company by reason of merger, consolidation, re-capitalization, re-classification,
stock split, stock dividend or combination of shares, the Company shall make an appropriate and equitable adjustment in the number
and kind of shares as to which the conversion shall be applicable, to the end that after such event the Lender’s proportionate
interest is preserved after the occurrence of such event.

 

(d)          If
Borrower fails to deliver shares in accordance with the timeframe stated this Section; the Lender, at any time prior to selling
all of those shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares
and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to the Company
(under Lender’s and Borrower’s expectations that any returned conversion amounts will tack back to the original date
of this Debenture). In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive
of the day of conversion), a penalty of $2,000 per day will be assessed for each day after the third business day (inclusive of
the day of the conversion) until share delivery is made; and such penalty will be added to the Principal Sum of this Debenture
(under Lender’s and Borrower’s expectations that any penalty amounts will tack back to the original date of this Debenture).

 

4.          ADJUSTMENT FOR
CAPITAL CHANGES; MERGER OR CONSOLIDATION; NON-DILUTION PROVISIONS.

 

(a)          If the Company
declares or pays a dividend on its common stock payable in common stock, or other securities, subdivides the outstanding common
stock into a greater amount of common stock, or engages in any reclassification, exchange or substitution transaction (an “Event”),
then the conversion price shall be automatically adjusted to provide the Lender with the same percentage ownership in the Stock
of the Company that it would have had if the conversion had been accomplished immediately prior to the Event.

 

    	3

    	 

    

 

(b)           The Company will
at all times reserve and keep available out of its authorized Common Stock, for the purpose of issuance upon conversion of this
Debenture as herein provided, the maximum number of shares of Common Stock as shall then be issuable upon the exercise of the conversion
privileges set forth herein. The Company covenants that all shares which shall be so issuable shall, upon the conversion of this
Debenture as herein provided, be duly and validly issued and fully paid and nonassessable by the Company.

 

		5.	EVENTS OF DEFAULT.

 

       (a)          The following
shall constitute an event of default (an “Event of Default”):

 

       (i) the Company
shall fail to pay any principal under this Debenture when due and payable (or payable by conversion) thereunder; or

 

       (ii) the
Company shall fail to pay any interest or any other amount under this Debenture when due and payable (or payable by conversion)
thereunder; or

 

       (iii) a receiver,
trustee or other similar official shall be appointed over the Company or a material part of its assets and such appointment shall
remain uncontested for twenty (20) days or shall not be dismissed or discharged within sixty (60) days; or

 

       (iv) the
Company shall make a general assignment for the benefit of creditors; or

 

       (v) the Company
shall file a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign); or

 

       (vi) an involuntary
insolvency proceeding shall be commenced or filed against the Company; or

 

       (vii) the
Company shall lose its status as “DTC Eligible” or the Company’s shareholders shall lose the ability to deposit
(either electronically or by physical certificates, or otherwise) shares into the DTC System; or the shares of the Company no longer
allow for DWAC transfer for the shares; or

 

       (ix) the
Company shall become delinquent in its filing requirements as a fully-reporting issuer registered with the SEC,

 

(x) the occurrence
of an Authorized Share Failure for as long as this Debenture remains unpaid in whole or in part.

 

       (b) Upon the occurrence
of an Event of Default, the Lender may declare by written notice all the then unpaid principal and interest outstanding, as well
as any applicable Prepayment Penalty to be due and payable, without presentation, demand, protest or notice of dishonor, all of
which the Company hereby waives. Interest accruing after an Event of Default shall accrue at an interest rate equal to the lesser
of 18% per annum or the maximum rate permitted under applicable law. Nothing herein shall limit Lender’s right to pursue
any other remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock upon conversion
of this Debenture as required pursuant to the terms hereof.

 

    	4

    	 

    

 

(c)          Should the indebtedness
represented by this Debenture or any part thereof be collected in any proceeding or placed in the hands of attorneys for collection,
the Company agrees to pay, in addition to the principal and interest due and payable hereon, all costs of collecting this Debenture,
including reasonable attorneys' fees and expenses.

 

6. LENDER’S REPRESENTATIONS
AND WARRANTIES.

 

The Lender represents
and warrants to the Company that:

  

a.
Investment Purpose. As of the date hereof, the Lender is purchasing the Debenture and the shares of Common Stock issuable
upon conversion of or otherwise pursuant to the Debenture (the “Conversion Shares, and, collectively with the Debenture the
“Securities”) for its own account and not with a present view towards the public sale or distribution thereof, except
pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by making
the representations herein, the Lender does not agree to hold any of the Securities for any minimum or other specific term and
reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption
under the 1933 Act.

 

b.
Accredited Lender Status. The Lender is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D (an “Accredited Lender”).

 

c.
Reliance on Exemptions. The Lender understands that the Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
upon the truth and accuracy of, and the Lender’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of the Lender set forth herein in order to determine the availability of such exemptions and the eligibility
of the Lender to acquire the Securities.

 

d.
Information. The Lender and its advisors, if any, have been, and for so long as the Debenture remains outstanding will continue
to be, furnished with all materials relating to the business, finances and operations of the Company and materials relating to
the offer and sale of the Securities which have been requested by the Lender or its advisors. The Lender and its advisors, if any,
have been, and for so long as the Debenture remains outstanding will continue to be, afforded the opportunity to ask questions
of the Company. Notwithstanding the foregoing, the Company has not disclosed to the Lender any material nonpublic information and
will not disclose such information unless such information is disclosed to the public prior to or promptly following such disclosure
to the Lender.The Lender understands that its investment in the Securities involves a significant degree of risk. The Lender is
not aware of any facts that may constitute a breach of any of the Company's representations and warranties made herein.

 

e.
Governmental Review. The Lender understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

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f.
Transfer or Re-sale. The Lender understands that (i) the sale or resale of the Securities has not been and is not being
registered under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the
Securities are sold pursuant to an effective registration statement under the 1933 Act, (b) the Lender shall have delivered to
the Company, at the cost of the Lender, an opinion of counsel that shall be in form, substance and scope customary for opinions
of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant
to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred
to an “affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”))
of the Lender who agrees to sell or otherwise transfer the Securities only in accordance with this Section 6(f) and who is an Accredited
Lender, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the 1933
Act (or a successor rule) (“Regulation S”), and the Lender shall have delivered to the Company, at the cost of the
Lender, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions,
which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only
in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances
in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in
the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder;
and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any
state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the
foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona
fide margin account or other lending arrangement. Notwithstanding anything in this Agreement to the contrary, no sale shall
be made pursuant to Rule 144 on any date that the Company is not in compliance with its requirement to file Forms 10-K or 10-Q
with the SEC, regardless of whether the Securities (in whatever form) contain a restrictive legend or electronic notation.

 

g.
Legends. The Lender understands that the Debenture and, the Conversion Shares may bear a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH
COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING,
THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT
SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security
upon which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for
sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation
S without any restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such
holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that a public sale or transfer of such Security may be made without registration under the 1933 Act,
which opinion shall be accepted by the Company so that the sale or transfer is effected. The Lender agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept such opinion of counsel provided by the Lender with
respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144 or Regulation S it will be considered
an Event of Default pursuant to Section 5 of the Debenture.

 

    	6

    	 

    

 

h. Experience of
Such Lender. Such Lender, 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. Such Lender 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. 

 

		7.	MISCELLANEOUS.

 

(a)          If the date of
any payment required by this Debenture be Saturday, Sunday or a bank holiday, such payment shall be payable on the first business
day following such date.

 

(b)          The Company hereby
expressly waives presentment, demand, protest or any other notice whatsoever.

 

(c)          Borrower shall have the right
to enter into secured or unsecured borrowings from commercial banks and comparable commercial credit institutions for the purpose
of financing inventory and fixed assets, upon approval of the Board of Directors of the Company (“Permitted Borrowings”).
Permitted Borrowings shall not require the prior approval of the Lender. All other borrowings by the Company shall be subject to
the prior written approval of the Lender.

 

(d)          This Debenture
shall be binding upon and shall inure to the benefit of the parties hereto, their successors, heirs and assigns.

 

(e)          The invalidity
or partial invalidity of any provision of this Debenture shall affect only such provision or part thereof and the balance of this
Debenture shall remain in effect.

 

(f)          It is understood
and agreed that no failure or delay in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power
or privilege hereunder.

 

		7.	CHOICE OF LAW & VENUE

 

(a)    All
questions concerning the construction, validity, enforcement and interpretation of this Debenture shall be governed by and construed
and enforced in accordance with the internal laws of the State of Delaware, without regard to the principles of conflicts of law
thereof. Any claim or controversy arising out of or relating to the interpretation, application or enforcement of any provision
of this Agreement, shall be submitted for resolution to a Federal or State court of competent jurisdiction in the State of New
York, New York County. The parties hereby consent to personal jurisdiction and venue in New York State, New York County.

 

[signature page to follow]

 

    	7

    	 

    

 

IN WITNESS WHEREOF,
the Company has caused this Debenture to be executed, sealed and delivered on the date first above written.

 

	 	Inergetics, Inc	 
	 	 	 	 
	 	By:	s/Michael James	 
	 	 	Michael James, CEO	 
	 	 	 	 
	 	Macallan Partners LLC.	 
	 	 	 	 
	 	By:	s/Adam Didia	 
	 	 	Adam Didia, Member	 

 

    	8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}]]