Document:

EX-10.5

 Exhibit 10.5 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (“Agreement”) is made and entered into as of the _____ day of _______________, 2022, by and between
Apollo Realty Income Solutions, Inc., a Maryland corporation (the “Company”), and _________________________ (“Indemnitee”). 

WHEREAS, at the request of the Company, Indemnitee currently serves or will serve as a director or officer of the Company and may, therefore,
be subjected to claims, suits or proceedings arising as a result of such service; 
 WHEREAS, as an inducement to Indemnitee to serve or
continue to serve in such capacity, the Company has agreed to indemnify Indemnitee and to advance expenses and costs incurred by Indemnitee in connection with any such claims, suits or proceedings; and 

WHEREAS, the parties by this Agreement desire to set forth their agreement regarding indemnification and advance of expenses; 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree
as follows: 
 Section 1.    Definitions. For purposes of this Agreement: 

(a)    “Applicable Legal Rate” means a fixed rate of interest equal to the applicable federal rate for mid-term debt instruments as of the day that it is determined that Indemnitee must repay any advanced expenses. 

(b)    “Change in Control” means a change in control of the Company occurring after the Effective Date of a
nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if, after the Effective Date,
(i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Company representing 15% or more of the combined voting power of all of the Company’s then-outstanding securities entitled to vote generally in the election of directors without the prior approval of at least
two-thirds of the members of the Board of Directors in office immediately prior to such person’s attaining such percentage interest; (ii) the Company is a party to a merger, consolidation, sale of
assets, plan of liquidation or other reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in
office immediately prior to such transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii) at any time, a majority of the members of the Board of Directors are not individuals (A) who were
directors as of the Effective Date or (B) whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved or recommended (1) by the affirmative vote of at least two-thirds of the directors 

 
then in office who were directors as of the Effective Date or (2) by a committee of the Board of Directors consisting of at least two-thirds of the
directors then in office who were directors as of the Effective Date or, in the case of clause (1) or (2), whose election or nomination for election was previously so approved or recommended. 

(c)    “Corporate Status” means the status of a person as a present or former director, officer, employee or
agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited liability company, joint
venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company. As a clarification and without limiting the circumstances in which Indemnitee may be serving at the request
of the Company, service by Indemnitee shall be deemed to be at the request of the Company: (i) if Indemnitee serves or served as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any corporation,
partnership, limited liability company, joint venture, trust or other enterprise (A) of which a majority of the voting power or equity interest is or was owned directly or indirectly by the Company or (B) the management of which is
controlled directly or indirectly by the Company and (ii) if, as a result of Indemnitee’s service to the Company or any of its affiliated entities, Indemnitee is subject to duties to, or required to perform services for, an employee
benefit plan or its participants or beneficiaries, including as a deemed fiduciary thereof. 

(d)    “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding
in respect of which indemnification and/or advance of Expenses is sought by Indemnitee. 
 (e)    “Effective
Date” means the date set forth in the first paragraph of this Agreement. 
 (f)    “Expenses” means any
and all reasonable and out-of-pocket attorneys’ fees and costs, retainers, court costs, arbitration and mediation costs, transcript costs, fees of experts, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under
this Agreement, ERISA excise taxes and penalties and any other disbursements or expenses incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in or otherwise
participating in a Proceeding. Expenses shall also include Expenses incurred in connection with any appeal resulting from any Proceeding including, without limitation, the premium for, security for and other costs relating to any cost bond,
supersedeas bond or other appeal bond or its equivalent. 
 (g)    “Independent Counsel” means a law firm, or
a member of a law firm, that is experienced in matters of corporation law and neither is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with
respect to matters concerning Indemnitee under this Agreement or of other indemnitees under similar indemnification agreements), or (ii) any other party to or participant or witness in the Proceeding giving rise to a claim for indemnification
or advance of Expenses 

  
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hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would
have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

(h)    “Proceeding” means any threatened, pending or completed action, suit, arbitration, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing, claim, demand or discovery request or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether of a civil
(including intentional or unintentional tort claims), criminal, administrative or investigative (formal or informal) nature, including any appeal therefrom, except one pending or completed on or before the Effective Date, unless otherwise
specifically agreed in writing by the Company and Indemnitee. If Indemnitee reasonably believes that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall also be considered a Proceeding. 

Section 2.    Services by Indemnitee. Indemnitee serves or will serve as a director or officer of the Company.
However, this Agreement shall not impose any independent obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other
entity) and Indemnitee. 
 Section 3.    General. Subject to the limitations in Section 5, the Company
shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) as otherwise permitted by Maryland law in effect on the Effective Date and as amended from time to time; provided, however, that no change in
Maryland law shall have the effect of reducing the benefits available to Indemnitee hereunder based on Maryland law as in effect on the Effective Date. Subject to the limitations in Section 5, the rights of Indemnitee provided in this
Section 3 shall include, without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted by the Maryland General Corporation Law (the “MGCL”), including, without
limitation, Section 2-418 of the MGCL. 
 Section 4.    Standard
for Indemnification. Subject to the limitations in Section 5, if, by reason of service in Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be, made a party to any Proceeding, the Company shall indemnify Indemnitee
against all judgments, penalties, fines and amounts paid in settlement and all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any such Proceeding unless it is established by clear and
convincing evidence that (a) the act or omission of Indemnitee was material to the matter giving rise to the Proceeding and (i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty, (b) Indemnitee
actually received an improper personal benefit in money, property or services or (c) in the case of any criminal Proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful. 

Section 5.    Certain Limits on Indemnification. Notwithstanding any other provision of this Agreement (other
than Section 6), Indemnitee shall not be entitled to: 
 (a)    indemnification for any loss or liability unless
all of the following conditions are met: (i) Indemnitee has determined, in good faith, that the course of conduct that 

  
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caused the loss or liability was in the best interests of the Company; (ii) Indemnitee was acting on behalf of or performing services for the Company; (iii) such loss or liability was
not the result of (A) gross negligence or willful misconduct in the case of an Indemnitee who is an independent director of the Company or (B) negligence or misconduct in the case of an Indemnitee who is not an independent director of the
Company; and (iv) such indemnification is recoverable only out of the Company’s net assets and not from the Company’s stockholders; 

(b)    indemnification for any loss or liability arising from an alleged violation of federal or state securities laws
unless one or more of the following conditions are met: (i) there has been a successful adjudication on the merits of each count involving alleged securities law violations as to Indemnitee; (ii) such claims have been dismissed with
prejudice on the merits by a court of competent jurisdiction as to Indemnitee; or (iii) a court of competent jurisdiction approves a settlement of the claims against Indemnitee and finds that indemnification of the settlement and the related
costs should be made, and the court considering the request for indemnification has been advised of the position of the Securities and Exchange Commission and of the published position of any state securities regulatory authority in which securities
of the Company were offered or sold as to indemnification for violations of securities laws; 
 (c)     indemnification
hereunder if the Proceeding was one by or in the right of the Company and Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to further appeal, to be liable to the Company; 

(d)    indemnification hereunder if Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to
further appeal, to be liable on the basis that personal benefit in money, property or services was improperly received in any Proceeding charging improper personal benefit to Indemnitee, whether or not involving action in Indemnitee’s Corporate
Status; or 
 (e)     indemnification or advance of Expenses hereunder if the Proceeding was brought by Indemnitee,
unless: (i) the Proceeding was brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Section 12 of this Agreement, or (ii) the Company’s charter or Bylaws, a
resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise. 

Section 6.    Court-Ordered Indemnification. Subject to the limitations in Section 5(a) and (b), a court
of appropriate jurisdiction, upon application of Indemnitee and such notice as the court shall require, may order indemnification of Indemnitee by the Company in the following circumstances: 

(a)    if such court determines that Indemnitee is entitled to reimbursement under
Section 2-418(d)(1) of the MGCL, the court shall order indemnification, in which case Indemnitee shall be entitled to recover the Expenses of securing such reimbursement; or 

(b)    if such court determines that Indemnitee is fairly and reasonably entitled to indemnification in view of all the
relevant circumstances, whether or not Indemnitee (i) has 

  
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met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an improper personal
benefit under Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper without regard to any limitation on such court-ordered indemnification contemplated by Section 2-418(d)(2)(ii) of the MGCL. 
 Section 7.    Indemnification for
Expenses of an Indemnitee Who is Wholly or Partially Successful. Subject to the limitations in Section 5, to the extent that Indemnitee was or is, by reason of service in Indemnitee’s Corporate Status, made a party to (or otherwise
becomes a participant in) any Proceeding and is successful, on the merits or otherwise, in the defense of such Proceeding, the Company shall indemnify Indemnitee for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify
Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each such claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes
of this Section 7, and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

Section 8.    Advance of Expenses for Indemnitee. If, by reason of service in Indemnitee’s Corporate
Status, Indemnitee is, or is threatened to be, made a party to any Proceeding, the Company shall, without requiring a preliminary determination of Indemnitee’s ultimate entitlement to indemnification hereunder, advance all Expenses incurred by
or on behalf of Indemnitee in connection with (a) such Proceeding which is initiated by a third party who is not a stockholder of the Company or (b) such Proceeding which is initiated by a stockholder of the Company acting in his or her
capacity as such and for which a court of competent jurisdiction specifically approves such advancement, and which relates to acts or omissions with respect to the performance of duties or services on behalf of the Company. The Company shall make
such advance or advances of incurred Expenses within ten days after the receipt by the Company of a statement or statements requesting such advance from time to time, whether prior to or after final disposition of such Proceeding, which advance may
be in the form of, in the reasonable discretion of Indemnitee (but without duplication), (a) payment of such Expenses directly to third parties on behalf of Indemnitee, (b) advance of funds to Indemnitee in an amount sufficient to pay such
Expenses or (c) reimbursement to Indemnitee for Indemnitee’s payment of such Expenses. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written
affirmation by Indemnitee and a written undertaking by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of the execution
thereof. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required by this
Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted without reference to Indemnitee’s financial ability to repay such advanced Expenses and without any requirement to post security
therefor.  

  
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 Section 9.    Indemnification and Advance of Expenses as a
Witness or Other Participant. Subject to the limitations in Section 5, to the extent that Indemnitee is or may be, by reason of service in Indemnitee’s Corporate Status, made a witness or otherwise asked to participate in any
Proceeding, whether instituted by the Company or any other person, and to which Indemnitee is not a party, Indemnitee shall be advanced and indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith within ten days after the receipt by the Company of a statement or statements requesting any such advance or indemnification from time to time, whether prior to or after final disposition of such Proceeding. Such
statement or statements shall reasonably evidence the Expenses incurred by Indemnitee. In connection with any such advance of Expenses, the Company may require Indemnitee to provide an affirmation and undertaking substantially in the form attached
hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of execution thereof. 

Section 10.    Procedure for Determination of Entitlement to Indemnification. 

(a)    To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including
therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary or appropriate to determine whether and to what extent Indemnitee is entitled to indemnification. Indemnitee may submit one
or more such requests from time to time and at such time(s) as Indemnitee deems appropriate in Indemnitee’s sole discretion. The officer of the Company receiving any such request from Indemnitee shall, promptly upon receipt of such a request
for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification. 

(b)    Upon written request by Indemnitee for indemnification pursuant to Section 10(a) above, a determination, if
required by applicable law, with respect to Indemnitee’s entitlement thereto shall promptly be made in the specific case: (i) if a Change in Control has occurred, by Independent Counsel, in a written opinion to the Board of Directors, a
copy of which shall be delivered to Indemnitee, which Independent Counsel shall be selected by Indemnitee and approved by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL,
which approval shall not be unreasonably withheld; or (ii) if a Change in Control has not occurred, (A) by the Board of Directors by a majority vote of a quorum consisting of the Disinterested Directors or by a majority vote of a committee
of the Board of Directors consisting of one or more Disinterested Directors designated to act in the matter by a majority vote of the Disinterested Directors, (B) if Independent Counsel has been selected by the Board of Directors in accordance
with Section 2-418(e)(2)(ii) of the MGCL and approved by Indemnitee, which approval shall not be unreasonably withheld or delayed, by Independent Counsel, in a written opinion to the Board of Directors, a
copy of which shall be delivered to Indemnitee or (C) if so directed by the Board of Directors, by the stockholders of the Company, other than directors or officers who are parties to the Proceeding. If it is so determined that Indemnitee is
entitled to indemnification, the Company shall make payment to Indemnitee within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary or appropriate to such 

  
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determination in the discretion of the Board of Directors or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 10(b). Any Expenses incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company shall indemnify and hold Indemnitee
harmless therefrom. 
 (c)    The Company shall pay the reasonable fees and expenses of Independent Counsel, if one is
appointed. 
 Section 11.    Presumptions and Effect of Certain Proceedings. 

(a)    In making any determination with respect to entitlement to indemnification hereunder, the person or persons
(including any court having jurisdiction over the matter) making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with
Section 10(a) of this Agreement, and the Company shall have the burden of overcoming that presumption in connection with the making of any determination contrary to that presumption. 

(b)    The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or
conviction, upon a plea of nolo contendere or its equivalent, or entry of an order of probation prior to judgment, does not create a presumption that Indemnitee did not meet the requisite standard of conduct described herein for
indemnification. 
 (c)    The knowledge and/or actions, or failure to act, of any other director, officer, employee or
agent of the Company or any other director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited liability company, joint
venture, trust, employee benefit plan or other enterprise shall not be imputed to Indemnitee for purposes of determining any other right to indemnification under this Agreement. 

Section 12.    Remedies of Indemnitee. 

(a)    If (i) a determination is made pursuant to Section 10(b) of this Agreement that Indemnitee is not
entitled to indemnification under this Agreement, (ii) advance of Expenses is not timely made pursuant to Section 8 or 9 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to
Section 10(b) of this Agreement within 60 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 7 or 9 of this Agreement within ten days after receipt by
the Company of a written request therefor, or (v) payment of indemnification pursuant to any other section of this Agreement or the charter or Bylaws of the Company is not made within ten days after a determination has been made that Indemnitee
is entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate court located in the State of Maryland, or in any other court of competent jurisdiction, or in an arbitration conducted by a single arbitrator pursuant
to the Commercial Arbitration Rules of the American Arbitration Association, of Indemnitee’s entitlement to indemnification or advance of Expenses. Indemnitee shall commence a proceeding seeking an adjudication or an award in arbitration

  
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within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not
apply to a proceeding brought by Indemnitee to enforce Indemnitee’s rights under Section 7 of this Agreement. Except as set forth herein, the provisions of Maryland law (without regard to its conflicts of laws rules) shall apply to any
such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 

(b)    In any judicial proceeding or arbitration commenced pursuant to this Section 12, Indemnitee shall be presumed
to be entitled to indemnification or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proving that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be. If
Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 12, Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 8 of this Agreement until a final determination is made
with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding
or arbitration commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by
all of the provisions of this Agreement. 
 (c)    If a determination shall have been made pursuant to
Section 10(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification that was not disclosed in connection with the determination.

 (d)    In the event that Indemnitee is successful in seeking, pursuant to this Section 12, a judicial
adjudication of or an award in arbitration to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company for, any and
all Expenses actually and reasonably incurred by Indemnitee in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the
indemnification or advance of Expenses sought, the Expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated. 

(e)    Interest shall be paid by the Company to Indemnitee at the maximum rate allowed to be charged for judgments under
the Courts and Judicial Proceedings Article of the Annotated Code of Maryland for amounts which the Company pays or is obligated to pay for the period (i) commencing with either the tenth day after the date on which the Company was requested to
advance Expenses in accordance with Section 8 or 9 of this Agreement or the 60th day after the date on which the Company was requested to make the determination of entitlement to
indemnification under Section 10(b) of this Agreement, as applicable, and (ii) ending on the date such payment is made to Indemnitee by the Company. 

  
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 Section 13.    Defense of the Underlying Proceeding. 

(a)    Indemnitee shall notify the Company promptly in writing upon being served with any summons, citation, subpoena,
complaint, indictment, request or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder and shall include with such notice a description of the nature of the Proceeding and a
summary of the facts underlying the Proceeding. The failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to indemnification or the advance of Expenses under this
Agreement unless the Company’s ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only to the extent the Company is thereby actually so prejudiced. 

(b)    Subject to the provisions of the last sentence of this Section 13(b) and of Section 13(c) below, the
Company shall have the right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall notify Indemnitee of any such decision to defend within 15 days following receipt of
notice of any such Proceeding under Section 13(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or delayed, consent to the entry of any judgment against Indemnitee or
enter into any settlement or compromise with respect to Indemnitee which (i) includes an admission of fault of Indemnitee, (ii) does not include, as an unconditional term thereof, the full release of Indemnitee from all liability in
respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee, or (iii) would impose any Expense, judgment, fine, penalty or limitation on Indemnitee. This Section 13(b) shall not apply to a
Proceeding brought by Indemnitee under Section 12 of this Agreement. 
 (c)    Notwithstanding the provisions of
Section 13(b) above, if in a Proceeding to which Indemnitee is a party by reason of service in Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which
approval shall not be unreasonably withheld or delayed, that Indemnitee may have separate defenses or counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee
reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld or delayed, that an actual or apparent conflict of interest or potential conflict of interest exists between Indemnitee
and the Company, or (iii) if the Company fails to assume the defense of such Proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee’s choice, subject to the prior approval of
the Company, which approval shall not be unreasonably withheld or delayed, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other
person takes any action to declare this Agreement void or unenforceable, or institutes any Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain
counsel of Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be unreasonably withheld or delayed, at the expense of the Company (subject to Section 12(d) of this Agreement), to represent Indemnitee
in connection with any such matter. 

  
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Section 14.    Non-Exclusivity; Survival of Rights; Subrogation. 

(a)    The rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board
of Directors, or otherwise. Unless consented to in writing by Indemnitee, no amendment, alteration or repeal of the charter or Bylaws of the Company, this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal, regardless of whether a claim with respect to such action or inaction is raised prior or
subsequent to such amendment, alteration or repeal. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right or remedy shall be cumulative and in addition to every other right or remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prohibit the concurrent assertion or employment of any other right or remedy. 

(b)    In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to
all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights. 
 Section 15.    Insurance. 

(a)    The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms
and conditions deemed appropriate by the Board of Directors, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee by reason of service in Indemnitee’s Corporate Status and covering the Company for any
indemnification or advance of Expenses made by the Company to Indemnitee for any claims made against Indemnitee by reason of service in Indemnitee’s Corporate Status. In the event of a Change in Control, the Company shall maintain in force any
and all directors and officers liability insurance policies that were maintained by the Company immediately prior to the Change in Control for a period of six years with the insurance carrier or carriers and through the insurance broker in place at
the time of the Change in Control; provided, however, (i) if the carriers will not offer the same policy and an expiring policy needs to be replaced, a policy substantially comparable in scope and amount shall be obtained and (ii) if any
replacement insurance carrier is necessary to obtain a policy substantially comparable in scope and amount, such insurance carrier shall have an AM Best rating that is the same or better than the AM Best rating of the existing insurance carrier;
provided, further, however, in no event shall the Company be required to expend in the aggregate in excess of 300% of the annual premium or premiums paid by the Company for directors and officers liability insurance in effect on the date of the
Change in Control. In the event that 300% of the annual premium paid by the Company for such existing directors and officers liability insurance is insufficient for such coverage, the Company shall spend up to that amount to purchase such lesser
coverage as may be obtained with such amount. 

  
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 (b)    Without in any way limiting any other obligation under this
Agreement, the Company shall indemnify Indemnitee for any payment by Indemnitee which would otherwise be indemnifiable hereunder arising out of the amount of any deductible or retention and the amount of any excess of the aggregate of all judgments,
penalties, fines, settlements and Expenses incurred by Indemnitee in connection with a Proceeding over the coverage of any insurance referred to in Section 15(a). The purchase, establishment and maintenance of any such insurance shall not in
any way limit or affect the rights or obligations of the Company or Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or
affect the rights or obligations of the Company under any such insurance policies. If, at the time the Company receives notice from any source of a Proceeding to which Indemnitee is a party or a participant (as a witness or otherwise), the Company
has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. 

(c)    Indemnitee shall cooperate with the Company or any insurance carrier of the Company with respect to any Proceeding.

 Section 16.    Coordination of Payments. The Company shall not be liable under this Agreement to make any
payment of amounts otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 

Section 17.    Contribution. If the indemnification provided in this Agreement is unavailable in whole or in
part and may not be paid to Indemnitee for any reason, other than for failure to satisfy the standard of conduct set forth in Section 4 or due to the provisions of Section 5, then, with respect to any Proceeding in which the Company is
jointly liable with Indemnitee (or would be if joined in such Proceeding), to the fullest extent permissible under applicable law, the Company, in lieu of indemnifying and holding harmless Indemnitee, shall pay, in the first instance, the entire
amount incurred by Indemnitee, whether for Expenses, judgments, penalties, and/or amounts paid or to be paid in settlement, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives
and relinquishes any right of contribution it may have at any time against Indemnitee. 
 Section 18.    Reports
to Stockholders. To the extent required by the MGCL, the Company shall report in writing to its stockholders the payment of any amounts for indemnification of, or advance of Expenses to, Indemnitee under this Agreement arising out of a
Proceeding by or in the right of the Company with the notice of the meeting of stockholders of the Company next following the date of the payment of any such indemnification or advance of Expenses or prior to such meeting. 

Section 19.    Duration of Agreement; Binding Effect. 

(a)    This Agreement shall continue until and terminate on the later of (i) the date that Indemnitee shall have
ceased to serve as a director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust,

  
 -11- 

 
partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company and
(ii) the date that Indemnitee is no longer subject to any actual or possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement). 

(b)    The indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding
upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the
Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic
corporation, real estate investment trust, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company, and shall inure to
the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. 

(c)    The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or
otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

(d)    The Company and Indemnitee agree that a monetary remedy for breach of this Agreement, at some later date, may be
inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific
performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which
Indemnitee may be entitled. Indemnitee shall further be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or
other undertakings in connection therewith. The Company acknowledges that, in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court, and the Company hereby waives any such requirement of such a bond or undertaking.

 Section 20.    Severability. If any provision or provisions of this Agreement shall be held to be
invalid, void, illegal or otherwise unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or
sentence of this Agreement containing any such provision held to be invalid, void, illegal or otherwise unenforceable that is not itself invalid, void, illegal or otherwise unenforceable) shall not in any way be affected or impaired thereby and
shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to 

  
 -12- 

 
applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, void, illegal or otherwise unenforceable, that is not itself invalid, void, illegal or otherwise unenforceable) shall be construed
so as to give effect to the intent manifested thereby. 
 Section 21.    Counterparts. This Agreement may be
executed in one or more counterparts (delivery of which may be by facsimile or via e-mail as a portable document format (.pdf) or other electronic format), each of which will be deemed to be an original, and
it will not be necessary in making proof of this Agreement or the terms of this Agreement to produce or account for more than one such counterpart. One such counterpart signed by the party against whom enforceability is sought shall be sufficient to
evidence the existence of this Agreement. 
 Section 22.    Headings. The headings of the paragraphs of this
Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

Section 23.    Modification and Waiver. No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor, unless otherwise
expressly stated, shall such waiver constitute a continuing waiver. 
 Section 24.    Notices. All notices,
requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, on
the day of such delivery, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed: 

(a)    If to Indemnitee, to the address set forth on the signature page hereto. 

(b)    If to the Company, to: 

    Apollo Realty Income Solutions, Inc. 

    c/o Apollo Global Management, Inc. 

    9 West 57th Street, 43rd Floor 

    New York, New York 10019 

    Attn: General Counsel 

or to such other address as may have been furnished in writing to Indemnitee by the Company or to the Company by Indemnitee, as the case may be. 

Section 25.    Governing Law. This Agreement shall be governed by, and construed and enforced in accordance
with, the laws of the State of Maryland, without regard to its conflicts of laws rules. 
 [SIGNATURE PAGE FOLLOWS] 

  
 -13- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

			
	APOLLO REALTY INCOME SOLUTIONS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	
	 INDEMNITEE

	
	  

	 Name:
	 	
	 Address:
	 	

  
 -14- 

 EXHIBIT A 

AFFIRMATION AND UNDERTAKING TO REPAY EXPENSES ADVANCED 

To: The Board of Directors of Apollo Realty Income Solutions, Inc. 

Re: Affirmation and Undertaking 
 Ladies and Gentlemen: 

This Affirmation and Undertaking is being provided pursuant to that certain Indemnification Agreement, dated the _____ day of _______________,
2022, by and between Apollo Realty Income Solutions, Inc., a Maryland corporation (the “Company”), and the undersigned Indemnitee (the “Indemnification Agreement”), pursuant to which I am entitled to advance of Expenses in
connection with [Description of Proceeding] (the “Proceeding”). 
 Terms used herein and not otherwise defined shall have
the meanings specified in the Indemnification Agreement. 
 I am subject to the Proceeding by reason of service in my Corporate Status. I
hereby affirm my good faith belief that at all times, insofar as I was involved as a director or officer of the Company, in any of the facts or events giving rise to the Proceeding, I (1) did not act with bad faith or active or
deliberate dishonesty, (2) did not receive any improper personal benefit in money, property or services, (3) in the case of any criminal proceeding, had no reasonable cause to believe that any act or omission by me was unlawful,
(4) was acting on behalf of or performing services for the Company, (5) acted in the best interests of the Company and (6) [did not act with gross negligence or engage in willful misconduct][did not act with negligence or engage in
misconduct] [Use first bracketed alternative for independent directors and second bracketed alternative for all other indemnitees.]. 

In consideration of the advance by the Company for Expenses incurred by me in connection with the Proceeding (the “Advanced
Expenses”), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the
result of active and deliberate dishonesty, (2) I actually received an improper personal benefit in money, property or services, (3) in the case of any criminal proceeding, I had reasonable cause to believe that the act or omission was
unlawful, (4) an act or omission by me (a) was not in service of the Company, (b) was not in the best interests of the Company or (c) [constituted gross negligence or willful misconduct] [constituted negligence or misconduct]
[Use first bracketed alternative for independent directors and second bracketed alternative for all other indemnitees.] or (5) in the case of any alleged federal or state securities law violation by me, (a) there
was not a successful adjudication on the merits of each count involving alleged securities law violations, (b) such claims were not dismissed with prejudice on the merits by a court of competent jurisdiction or (c) a court of competent
jurisdiction, which had been advised of the position of the Securities and Exchange Commission and of the published position of any state securities regulatory authority in which securities of the Company were offered or sold as to indemnification
for violations of securities laws, did not approve a settlement of such claims and 

 
find that indemnification of the settlement and related costs should be made, then I shall promptly reimburse the portion of the Advanced Expenses, together with the Applicable Legal Rate of
interest thereon, relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established. 

IN WITNESS WHEREOF, I have executed this Affirmation and Undertaking on this
             day of                     ,
20        . 
  

	
	  

	Name:

  
 A-2Exhibit
10.1

 

LOAN
AGREEMENT

 

This
Loan Agreement (“Agreement”) is made and entered into in this 20th day of April 2022 (“Effective Date”),
by and between JUPITER WELLNESS, INC., a Delaware corporation, its successors and assigns (the “Company”), and Greentree
Financial Group, Inc., a Florida corporation (“Lender”).

 

RECITALS

 

WHEREAS,
the Company is in need of capital for working capital and product expansion and Lender has agreed
to provide up to $1,500,000.00 of such capital according to the terms hereof; and

 

WHEREAS,
Lender and Company enter into this Agreement to establish terms by which Lender, in its sole discretion, may fund Loans, as set forth
herein and therein the related Note, described below.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the sufficiency
of which is acknowledged by Lender and Company (each “party” and, collectively, “parties”), the parties hereby
agree as follows:

 

1.
LOANS; PROMISSORY NOTES. Lender may loan the Company up to $1,500,000.00 (the “Principal Amount”) with 5% original
issuance discount, pursuant to the terms hereof; provided, nothing herein or otherwise shall obligate Lender to make any future loans
to the Company. All sums advanced pursuant to the terms of this Agreement (a “Loan”) shall be evidenced by a separate 8%
convertible promissory note (the “Note”), in substantially the form set forth as Exhibit A hereto. The Note shall be convertible
into shares of the Company’s common stock (the “Common Stock”) pursuant to the terms contained in the Note. All covenants,
conditions and agreements contained herein are made a part of the Note, unless modified therein.

 

a.
Unless stated otherwise in the Note, the Note will automatically mature six (6) months from the effective date of the applicable Note.

 

b.
All sums advanced pursuant to this Agreement shall bear simple interest from the date the Loan is made until paid in full at an interest
rate of eight percent (8%) per annum. The accrued interest shall not compound and will be calculated on the basis of a 360 day year.
Interest shall be paid by the Company quarterly.

 

2.
WARRANTS. Upon the sale of the Note of $1,500,000 by the Company to the Lender at Effective Date, the Company shall simultaneously
issue to the Lender at the Effective Date, a warrant in substantially the form annexed hereto as Exhibit B (the “Warrant”)
to purchase 1,100,000 shares of Common Stock (the “Warrant Shares”) at an exercise price of $2.79 per share (the “Exercise
Price”). The Warrant shall be cashless exercisable for a period of five (5) years from the issue date specified on the face of
such Warrant until the underlying commons shares are registered by the Company in an effective registration statement as set forth in
Section 8. The Warrants shall have Down Round Protection meaning that prior to exercise, if at any time the Company grants, issues
or sells any Common Stock, options to purchase Common Stock, securities convertible into Common Stock or rights relating to Common Stock
(the “Purchase Rights”) to any person, entity, association, or other organization other than the Lender, at a price per share
less than the Exercise Price, then the Exercise Price hereof shall be proportionately reduced to match the price per share of the Purchase
Rights. For purposes of clarification, if the Company sells Common Stock at $1.50 per share at any time after the date hereof but prior
to exercise, then the Exercise Price of Lender’s Warrant Shares would be adjusted to $1.50. Notwithstanding, the Exercise Price
may not exceed $2.79 per share in any case.

 

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Loan
Agreement

 

The
issuance of Purchase Rights shall not constitute a Down Round for purposes of this Agreement in the event of: (i) the exercise of stock
options or the conversion of convertible securities in each case issued to employees, directors of, or consultants to the Company pursuant
to a plan, agreement or arrangement approved by the Board of Directors of the Company; (ii) a dividend or distribution payable to holders
of capital stock of the Company; or (iii) a subdivision (by stock split, recapitalization or otherwise) of outstanding shares of the
Company into a greater number of shares.

 

3.
PREPAYMENT. The Company may, at its option, at any time and from time to time, prepay all or any part of the principal balance
of this Note before the Maturity Date, without any penalty. In the event of prepayment, the Lender shall retain the Warrant.

 

4.
MANDATORY EXERCISE. The Warrant shall be exercised to shares of common stock of the Company at the Exercise Price when the
Company’s common stock closes at a price of $5.00 per share or higher for a period of 30 consecutive trading days and if the Registration
Statement covering the shares underlying the Warrants is still effective, subject to the limit of Warrant Holder’s beneficial ownership
set forth in the Warrant Agreement.

 

5.
ORIGINATION SHARES. The Company agrees to issue Lender 187,500 shares of its common stock as an origination (the “Origination
Shares”)” payable at Effective Date. The Origination Shares are deemed fully earned upon the Effective Date.

 

6.
ALLOWANCE FOR LEGAL FEE. A $10,000.00 allowance for Lender’s legal fees shall be paid by the Company and deducted from
Lender’s first payment.

 

7.
PAYMENT TERMS. Upon signing this Agreement, the Lender will pay the Company $1,415,000, net
of original issuance discount and the allowance for legal fees specified in Section 6. 

 

8.
REGISTRATION RIGHTS. The Company shall prepare and file with the United States Securities and Exchange Commission (the “Commission”
or “SEC”) a registration statement on Form S-1 (the “Form S-1” or “Registration Statement”) within
60 days from the Effective Date to cover three times the Common Stock underlying the Note conversion based on the price of $2.79 and
the Warrant Shares. The Form S-1 must be effective within 90 days from the filing date. There shall be monthly liquidated damages equal
to 2% of the Principal Amount (the “Liquidated Damage Penalty”) if the Registration Statement is not filed within 60 days
from the Effective Date and/or declared effective within 90 days from the filing date of the Registration Statement, which damages shall
accrue each month until the applicable breach (failure to timely file, failure to timely have declared effective, or both) has been cured.
The parties acknowledge and agree that damages which will result to Lender for Company’s failure to timely file or have declared
effective the Registration Statement shall be extremely difficult or impossible to establish or prove, and agree that the payment of
Liquidated Damage Penalty is a reasonable estimate of potential damages and shall constitute liquidated damages for any breach of this
paragraph. Any amounts due under this Section shall be paid by the fifth (5th) day of the month following the month in which they accrued
or, at the option of Lender, added to the principal of the Note. The legal fees associated with filing the Form S-1 shall be paid by
Company

 

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Loan
Agreement

 

9.
REPRESENTATIONS AND WARRANTIES BY THE COMPANY. In order to induce Lender to enter into this Agreement and to make the Loans
provided for herein, Company represents and warrants to Lender as follows:

 

a.
Organization, Good Standing and Power. The Company is a corporation duly incorporated, validly existing and in good standing under
the laws of the State of Delaware and has the requisite corporate power to own, lease and operate its properties and assets and to conduct
its business as it is now being conducted.

 

b.
Non-Shell Status. The Company is not now or ever been a shell as that term is defined in Rule 405 of the Securities Act.

 

c.
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and perform this Agreement,
the Notes, and the Warrants (all such documents together with all amendments, schedules, exhibits, annexes, supplements and related items,
to each such document shall hereinafter be collectively referred to as, the “Transaction Documents”). The execution, delivery
and performance of the Transaction Documents by the Company, and the consummation by it of the transactions contemplated in, have been
duly and validly authorized by all necessary corporate action. The Transaction Documents, when executed and delivered, will constitute
valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar
laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of
general application.

 

d.
Disclosure. None of the Transaction Documents nor any other document, certificate or instrument furnished to the Lender by or
on behalf of the Company in connection with the transactions contemplated by the Transaction Documents contains any untrue statement
of a material fact or omits to state a material fact necessary in order to make the statements made herein or therein, in the light of
the circumstances under which they were made herein or therein, not misleading.

 

e.
Adequate Shares. The Company will at all times have authorized and reserved a sufficient number of shares of Common Stock to provide
for the exercise of the rights represented by the respective Warrants and Notes.

 

f.
Periodic Filings. The Company at all times will remain current in its reporting requirements with the SEC under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and maintain its continued listing of the Company’s common stock
on NASDAQ Global Market.

 

g.
Additional Issuances. Except for the transactions contemplated by the Transaction Documents, the Company, for a period of twelve
(12) months from the date hereof, will not issue, grant or sell any security with a variable conversion or exercise rate.

 

10.
REPRESENTATIONS AND WARRANTIES BY LENDER. Lender, by its acceptance of this Note, represents and warrants to Company as follows:

 

a.
Lender is acquiring the Note with
the intent to hold as an investment and not with a view of distribution. 

 

b.
Lender is an “accredited investor”
within the definition contained in Rule 501(a) under the Securities Act of 1933, as amended (the “Securities Act”),
and is acquiring the Note for its own account, for investment, and not with a view to, or for sale in connection with, the distribution
thereof or of any interest therein. Lender has adequate net worth and means of providing for its current needs and contingencies and
is able to sustain a complete loss of the investment in the Note, and has no need for liquidity in such investment. Lender, itself or
through its officers, employees or agents, has sufficient knowledge and experience in financial and business matters to be capable of
evaluating the merits and risks of an investment such as an investment in the Securities, and Lender, either alone or through its officers,
employees or agents, has evaluated the merits and risks of the investment in the Note.

 

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Loan
Agreement

 

c.
Lender acknowledges and agrees that
it is purchasing the Note hereunder based upon its own inspection, examination and determination with respect thereto as to all matters,
and without reliance upon any express or implied representations or warranties of any nature, whether in writing, orally or otherwise,
made by or on behalf of or imputed to the Company.

 

d.
Except with respect to Aegis Capital Corp., a registered broker-dealer located in the State of New York, Lender has no contract, arrangement
or understanding with any broker, finder, investment bank, financial intermediary or similar agent with respect to any of the transactions
contemplated by this Agreement.

 

11.
LIQUIDATED DAMAGES.

 

a.
If (i) the Registration Statement on Form S-1 is not filed with the Commission within 60 days from the Effective Date, (ii) the Registration
Statement has not been declared effective by the Commission within 90 days from the filing date of the Registration Statement, or (iii)
any registration statement required by this Agreement is filed and declared effective by the Commission but shall thereafter cease to
be effective or fail to be usable for its intended purpose (each such event referred to as a “Registration Default”), the
Company hereby agrees to pay Lender Liquidated Damage Penalty as set forth in Section 8 until the Form S-1 takes effective. Following
the cure of all Registration Defaults relating to any particular registrable Securities, Liquidated Damages shall cease to accrue; provided,
however, that, if after Liquidated Damages have ceased to accrue, a different Registration Default occurs, Liquidated Damages shall again
accrue pursuant to the foregoing provisions. Any amounts due under this Section shall be paid by the fifth (5th) day of the
month following the month in which they accrued.

 

b.
If the Company fails to deliver any Securities due Lender hereunder on the date dictated by this Agreement (each a, “Delivery Date”),
the Company shall pay to Lender in immediately available funds $1,000.00 per day past the Delivery Date that the Securities are actually
issued. Any amounts due under this Section shall be paid by the fifth (5th) day of the month following the month in which
they accrued. The Company agrees that the right to receive Securities is a valuable right to Lender and a material consideration of it
entering this Agreement. The parties agree that it would be impracticable and extremely difficult to ascertain the amount of actual damages
caused by a failure of the Company to timely deliver shares as required hereby. Therefore, the parties agree that the foregoing liquidated
damages provision represents reasonable compensation for the loss which would be incurred by the Lender due to any such breach. The parties
agree that this Section is not intended to in any way limit Lender’s right to pursue other remedies, including actual damages and/or
equitable relief.

 

c.
The Company and Lender hereto acknowledge and agree that the sums payable as Liquidated Damages under subsection 11(a) and 11(b) above
shall constitute liquidated damages and not penalties and are in addition to all other rights of the Lenders, including the right to
call a default under the Securities Purchase Agreement. The parties further acknowledge that (i) the amount of loss or damages likely
to be incurred is incapable or is difficult to precisely estimate, (ii) the amounts specified in such subsections bear a reasonable relationship
to, and are not plainly or grossly disproportionate to, the probable loss likely to be incurred in connection with any failure by the
Company to obtain or maintain the effectiveness of a registration statement, (iii) one of the reasons for the Company and the Lender
reaching an agreement as to such amounts was the uncertainty and cost of litigation regarding the question of actual damages, and (iv)
the Company and the Lender are sophisticated business parties and have been represented by sophisticated and able legal counsel and negotiated
this Agreement at arm’s length.

 

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Loan
Agreement

 

12.
COMMON SHARE ISSUANCE. Upon receipt by the Company of a written request from Lender to convert any amount due under any Note
or to exercise any portion of any Warrant, subject to any limitations on conversion or exercise contained in any Note and/or Warrant,
the Company shall have three (3) business days (“Delivery Date”) to issue the shares of Common Stock rightfully listed in
such request. If the Company fails to timely deliver the shares, the Company shall pay to Lender in immediately available funds $1,000.00
per day past the Delivery Date that the shares are actually issued. Any amounts due under this Section shall be paid by the fifth (5th)
day of the month following the month in which they accrued or, at the option of Lender, may be added to the principal under any Note.
The Company agrees that the right to convert the Notes or exercise its Warrants is a valuable right to Lender and a material consideration
of it entering this Agreement. The parties agree that it would be impracticable and extremely difficult to ascertain the amount of actual
damages caused by a failure of the Company to timely deliver shares as required hereby. Therefore, the parties agree that the foregoing
liquidated damages provision represents reasonable compensation for the loss which would be incurred by the Lender due to any such breach.
The parties agree that this Section is not intended to in any way limit Lender’s right to pursue other remedies, including actual
damages and/or equitable relief.

 

13.
CONVERSION COSTS. The Company agrees to reimburse Lender’s certificate processing cost by adding $1,500 to the principal
for each note conversion effected by Lender.

 

14.
EVENTS OF DEFAULT. An event of default will occur if any of the following circumstances occur (each an “Event of Default”):

 

a.
Any representation or warranty made by Company in this Agreement or in connection with any Warrant or Note, or in any financial statement,
or any other statement furnished by Company to Lender is untrue in any material respect at the time when made or becomes untrue.

 

b.
Default by Company in the observance or performance of any other covenant or agreement contained in this Agreement.

 

c.
Default by Company under the terms of any Note or Warrant or any other third party note or warrant that exceeds a value of $500,000.

 

d.
Filing by Company of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any other relief
under the Bankruptcy Code as amended or under any other insolvency act or law, state or federal, now or hereafter existing.

 

e.
Filing of an involuntary petition against Company in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any
other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter existing,
and the continuance thereof for sixty (60) days undismissed, unbonded or undischarged.

 

f.
Company liquidates, transfers, sells or assigns substantially its assets or elects to wind down its operations or dissolve.

 

g.
The Company fails to maintain irrevocable TA instruction or file with the Company’s transfer agent along with a reserve of common
shares sufficient to satisfy the Note based on a then hypothetical conversion scenario per the terms of the Note.

 

h.
The Company fails to maintain DTC or DWAC eligibility.

 

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Loan
Agreement

 

i.
The Company fails to stay current in its SEC reporting obligations or maintain its continued listing of the Company’s common stock
on NASDAQ Global Market.

 

j.
The Company fails to deliver the Lender the shares of Common Stock rightfully listed in any Conversion Notice or any Warrants Exercise
Notice within three (3) business days.

 

k.
The Company breaches any other agreement it has with Lender or his assigns.

 

l.
The Company interferes with Lender’s or its assigns’ efforts to remove the restrictive legend from the Common Stock issued
as a result of conversion of any Note when Lender or his assign has provided an attorney opinion letter opining that the shares are eligible
to have the legend removed pursuant to Rule 144 or otherwise.

 

m.
The Company fails to prepare and file with the Commission a registration statement on Form S-1 within 60 days from the Effective Date
to cover the Common Stock underlying the Note and Warrants granted hereto, or the Form S-1 fails be effective within 90 days from the
filing date of the Registration Statement.

 

15.
REMEDIES. (i) There will be no cure period available for the Event of Default as defined in Section 14(d), 14(e) and 14(m);
or (ii) upon the occurrence of any other Event of Default as defined above, and provided such Event of Default has not been cured by
the Company within ten (10) business days after written notice of the occurrence of such Event of Default, the principal and any accrued
interest of the Note will be due immediately, and Lender shall have all of the rights and remedies provided by applicable law and equity.
To the extent permitted by law, Company waives any rights to presentment, demand, protest, or notice of any kind in connection with this
Agreement, any Warrant and/or any Note. No failure or delay on the part of Lender in exercising any right, power, or privilege hereunder
or thereunder will preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. The rights
and remedies provided herein are cumulative and not exclusive of any other rights or remedies provided at law or in equity. In the event
Lender shall refer this Agreement to an attorney to enforce the terms hereof, the Company agrees to pay all the costs and expenses incurred
in attempting or effecting the enforcement of the Lender’s rights, including reasonable attorney’s fees, whether or not suit
is instituted.

 

16.
NOTICE. Any and all notices, demands, advance requests or other communications required or desired to be given hereunder by
any party shall be in writing and shall be validly given or made to another party if (i) personally served, (ii) sent by email on the
date such email is sent (provided confirmation of such email being sent is provided upon request) (iii) deposited in the United States
mail, postage prepaid, return receipt requested, or (iv) by facsimile with confirmation receipt. Notice hereunder is to be given as follows:

 

If
to the Company:

 

JUPITER
WELLNESS, INC.

1061
E. Indiantown road, Suite 110

Jupiter,
FL 33477

Attn:
Brian John

 

If
to the Lender:

 

Greentree
Financial Group, Inc.

7951
S.W. 6th Street, Suite 216

Plantation,
Florida 33324

Attn:
R. Chris Cottone

 

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Loan
Agreement

 

17.
GENERAL PROVISIONS. All representations and warranties made in the Transaction Documents shall survive the execution and delivery
of this Agreement and the making of any Loans hereunder. This Agreement will be binding upon and inure to the benefit of Company and
Lender, their respective successors and assigns.

 

18.
ENTIRE AGREEMENT. The Transaction Documents contain the entire agreement of the parties and supersedes and replaces all prior
discussions, negotiations and representations of the parties. No party shall rely upon any oral representations in entering into this
agreement, such oral representations, if any, being expressly denied by the party to whom they are attributed and it being the intention
of the parties to limit the terms of this Agreement to those matters contained herein in writing. However, incorporated Notes shall be
deemed controlling at all times with regards to any inconsistent or changed terms or amendments contained therein.

 

19.
BINDING EFFECT. This agreement is binding upon and inures to the benefit of the parties hereto, their heirs, personal representatives,
successors and assigns. Lender may assign its rights hereunder without prior permission from the Company.

 

20.
GOVERNING LAW AND CONSENT TO JURISDICTION. This Agreement shall be governed by and construed in accordance with the laws of
the State of Florida, without regard to conflict of law provisions. All disputes arising out of or in connection with this Agreement,
or in respect of any legal relationship associated with or derived from this Agreement, shall only be heard in any competent court residing
in Broward County, Florida. The Company agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any manner provided by law. The Company further waives any objection to
venue in any such action or proceeding on the basis of inconvenient forum. The Company agrees that any action on or proceeding brought
against the Lender shall only be brought in such courts.

 

21.
ATTORNEYS FEES. In the event the Lender hereof shall refer this Agreement to an attorney to enforce the terms hereof, the
Company agrees to pay all the costs and expenses incurred in attempting or effecting the enforcement of the Lender’s rights, including
reasonable attorney’s fees, whether or not suit is instituted.

 

22.
AMENDMENT. The terms of this Agreement may not be amended, modified, or eliminated without written consent of the parties.

 

23.
SEVERABILITY. Every provision of this Agreement is intended to be severable. If any term or provision thereof is illegal or
invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity or legality of the remainder of this Agreement.

 

24.
CONSTRUCTION. Section and paragraph headings are for convenience only and do not affect the meaning or interpretation of this
Agreement. No rule of construction or interpretation that disfavors the party drafting this Agreement or any of its provisions will apply
to the interpretation of this Agreement. Instead, this Agreement will be interpreted according to the fair meaning of its terms.

 

25.
FURTHER ASSURANCES. Each party hereto agrees to do all things, including execute, acknowledge and/or deliver any documents
which may be reasonably necessary, appropriate or desirable to effectuate the transactions contemplated herein pursuant to terms and
conditions of this Agreement.

 

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Loan
Agreement

 

IN
WITNESS WHEREOF, the parties hereto enter into this Loan Agreement which is effective as of the date first written.

 

	Company:	 	Lender:
	 	 	 	 	 
	JUPITER
    WELLNESS, INC.	 	Greentree
    Financial Group, Inc.
	 	 	 	 	 
	By:	/s/
    Brian John	 	By:	/s/
    Chris Cottone
	Name:	Brian
    John	 	Name:	R.
    Chris Cottone
	Title:	Chief
    Executive Officer	 	Title:	Vice
    President

 

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EXHIBIT
A

 

NOTE
FORM

 

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Loan
Agreement

 

EXHIBIT
B

 

WARRANT
FORM

 

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