Document:

Exhibit 10.4

 

SECURITY AGREEMENT

 

THIS SECURITY AGREEMENT
(as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) dated as of May
17, 2018 between ProBility Media Corp., a Nevada corporation (“PYBA”, together with each other Person who becomes
a party to this Agreement by execution of a joinder in the form of Exhibit A attached hereto, which shall include all wholly-owned
or majority-owned subsidiaries of PYBA acquired after the date hereof for so long as this Agreement remains in effect, are hereinafter
sometimes referred to individually as a “Debtor” and, collectively, as the “Debtors”) and
Cavalry Fund I LP, a Delaware limited partnership, in its capacity as Collateral Agent (subject to Section 1A, below) for the benefit
of itself and each of the Purchasers (as hereinafter defined) (each a “Secured Party” and together with their
successors and assigns, the “Secured Parties”).

 

W I T N E S S E T H:

 

WHEREAS, the Purchasers
from time to time are parties to the Purchase Agreements (as hereafter defined) (each a “Purchaser”, and together
with their successors and assigns and each other purchaser of a Note (as defined below) and their respective successors and assigns,
individually and collectively, the “Purchasers”), pursuant to which such Purchasers will purchase from PYBA
certain senior secured notes each made by PYBA and dated as of the date hereof in an original aggregate principal amount of $1,111,111
and consideration paid of $1,000,000.00 at Closing Date (all such notes, together with any promissory notes or other securities
issued in exchange or substitution therefor or replacement thereof, and as any of the same may be amended, supplemented, restated
or modified and in effect from time to time, the “Notes”);

 

AND WHEREAS, the Notes
are being acquired by Purchasers, and Purchasers have made certain financial accommodations to PYBA pursuant to certain Purchase
Agreements, dated as of the date hereof among PYBA, the Secured Party and Purchasers (as the same may be amended, restated, supplemented
or otherwise modified from time to time, the “Purchase Agreements”). Capitalized terms used herein but not otherwise
defined shall have the meanings set forth in the Purchase Agreements;

 

AND WHEREAS, each Debtor
will derive substantial benefit and advantage from the financial accommodations to PYBA set forth in the Purchase Agreements and
the Notes, and it will be to each such Debtor’s direct interest and economic benefit to assist PYBA in procuring said financial
accommodations from Purchasers;

 

AND WHEREAS, to induce
Purchasers to enter into the Purchase Agreements and purchase the Notes, (i) each Debtor (other than PYBA) will guaranty the Obligations
(as hereinafter defined) of PYBA pursuant to the terms of one or more guaranties by each such Debtor in favor of Secured Party
(on its behalf and on behalf of the Purchasers) (such guaranties, as amended, restated, modified or supplemented and in effect
from time to time, individually and collectively, the “Subsidiary Guaranty”) and (ii) each Debtor will pledge
and grant a security interest in all of its right, title and interest in and to the Collateral (as hereinafter defined) as security
for its Obligations for the benefit of the Secured Party, Purchasers and their respective successors and assigns.

 

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

 

Section
1.             Definitions. Capitalized terms used herein without definition and defined in the Purchase Agreement are used
herein as defined therein. In addition, as used herein:

 

“Accounts”
means any “account,” as such term is defined in the UCC, and, in any event, shall include, without limitation, “supporting
obligations” as defined in the UCC.

 

“Chattel Paper”
means any “chattel paper,” as such term is defined in the UCC.

 

“Collateral”
shall have the meaning ascribed thereto in Section 3 hereof.

 

 

 

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“Commercial
Tort Claims” means “commercial tort claims”, as such term is defined in the UCC.

 

“Contracts”
means all contracts, undertakings, or other agreements (other than rights evidenced by Chattel Paper, Documents or Instruments)
in or under which a Debtor may now or hereafter have any right, title or interest, including, without limitation, with respect
to an Account, any agreement relating to the terms of payment or the terms of performance thereof.

 

“Copyrights”
means any copyrights, rights and interests in copyrights, works protectable by copyrights, copyright registrations and copyright
applications, including, without limitation, the copyright registrations and applications listed on Schedule III attached
hereto (if any), and all renewals of any of the foregoing, all income, royalties, damages and payments now and hereafter due and/or
payable under or with respect to any of the foregoing, including, without limitation, damages and payments for past, present and
future infringements of any of the foregoing and the right to sue for past, present and future infringements of any of the foregoing.

 

“Deposit Accounts”
means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of a Debtor.

 

“Documents”
means any “documents,” as such term is defined in the UCC, and shall include, without limitation, all documents of
title (as defined in the UCC), bills of lading or other receipts evidencing or representing Inventory or Equipment.

 

“Equipment”
means any “equipment,” as such term is defined in the UCC and, in any event, shall include, Motor Vehicles.

 

“Event of Default”
shall have the meaning set forth in the Notes.

 

“Excluded Assets”
means each of the following: (1) any lease, license or other agreement or any property subject to a capital lease, purchase money
security interest or similar arrangement, to the extent that a grant of a Lien thereon in favor of Secured Party would violate
or invalidate such lease, license, agreement or capital lease, purchase money security interest or similar arrangement or create
a right of termination in favor of any other party thereto (other than the Debtors), so long as such provision exists and so long
as such lease, license or agreement was not entered into in contemplation of circumventing the obligation to provide Collateral
hereunder or in violation of the Purchase Agreement, other than to the extent that any such term would be rendered ineffective
pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction
or any other applicable law including the bankruptcy code, or principles of equity.

 

“General Intangibles”
means any “general intangibles,” as such term is defined in the UCC, and, in any event, shall include, without limitation,
all right, title and interest in or under any Contract, models, drawings, materials and records, claims, literary rights, goodwill,
rights of performance, Copyrights, Trademarks, Patents, warranties, rights under insurance policies and rights of indemnification.

 

“Goods”
means any “goods”, as such term is defined in the UCC, including, without limitation, fixtures and embedded Software
to the extent included in “goods” as defined in the UCC.

 

“Governmental
Authority” means the government of the United States of America or any other nation, or any political subdivision thereof,
whether state or local, or any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administration powers or functions of or pertaining to government over
any Debtor or any of its subsidiaries, or any of their respective properties, assets or undertakings.

 

“Instruments”
means any “instrument,” as such term is defined in the UCC, and shall include, without limitation, promissory notes,
drafts, bills of exchange, trade acceptances, letters of credit, letter of credit rights (as defined in the UCC), and Chattel Paper.

 

“Inventory”
means any “inventory,” as such term is defined in the UCC.

 

“Investment
Property” means any “investment property”, as such term is defined in the UCC.

 

 

 

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“Obligations”
means all obligations, liabilities and indebtedness of every nature of Debtors from time to time owed or owing under or in respect
of this Agreement, the Notes, the Subsidiary Guaranty, and any of the other Security Documents, as the case may be, including,
without limitation, the principal amount of all debts, claims and indebtedness, accrued and unpaid interest and all fees, costs
and expenses, whether primary, secondary, direct, contingent, fixed or otherwise, heretofore, now and/or from time to time hereafter
owing, due or payable whether before or after the filing of a bankruptcy, insolvency or similar proceeding under applicable federal,
state, foreign or other law and whether or not an allowed claim in any such proceeding.

 

“Lien”
has the meaning set forth in the Purchase Agreement.

 

“Motor Vehicles”
shall mean motor vehicles, tractors, trailers and other like property, whether or not the title thereto is governed by a certificate
of title or ownership. The term “Motor Vehicles” shall specifically include mobile drilling rigs.

 

“Patents”
means any patents and patent applications, including, without limitation, the inventions and improvements described and claimed
therein, all patentable inventions and those patents and patent applications listed on Schedule IV attached hereto
(if any), and the reissues, divisions, continuations, renewals, extensions and continuations-in-part of any of the foregoing, and
all income, royalties, damages and payments now or hereafter due and/or payable under or with respect to any of the foregoing,
including, without limitation, damages and payments for past, present and future infringements of any of the foregoing and the
right to sue for past, present and future infringements of any of the foregoing.

 

“Permitted Indebtedness”
has the meaning set forth in the Notes.

 

“Proceeds”
means “proceeds,” as such term is defined in the UCC and, in any event, includes, without limitation, (a) any and all
proceeds of any insurance, indemnity, warranty or guaranty payable with respect to any of the Collateral, (b) any and all payments
(in any form whatsoever) made or due and payable from time to time in connection with any requisition, confiscation, condemnation,
seizure or forfeiture of all or any part of the Collateral by any Governmental Authority (or any person acting under color of Governmental
Authority), and (c) any and all other amounts from time to time paid or payable under, in respect of or in connection with any
of the Collateral.

 

“Representative”
means any Person acting as agent, representative or trustee on behalf of the Secured Party from time to time.

 

“Security Documents”
means this Agreement, the Subsidiary Guaranty, the Pledge Agreement, and any other documents securing the Liens of the Secured
Party hereunder.

 

“Software”
means all “software” as such term is defined in the UCC, now owned or hereafter acquired by a Debtor, other than software
embedded in any category of Goods, including, without limitation, all computer programs and all supporting information provided
in connection with a transaction related to any program.

 

“Trademarks”
means any trademarks, trade names, corporate names, company names, business names, fictitious business names, trade styles, service
marks, logos, other business identifiers, prints and labels on which any of the foregoing have appeared or appear, all registrations
and recordings thereof, and all applications in connection therewith, including, without limitation, the trademarks and applications
listed in Schedule V attached hereto (if any) and renewals thereof, and all income, royalties, damages and payments now
or hereafter due and/or payable under or with respect to any of the foregoing, including, without limitation, damages and payments
for past, present and future infringements of any of the foregoing and the right to sue for past, present and future infringements
of any of the foregoing.

 

“Transaction
Documents” means the Purchase Agreements, the Notes, the Security Documents, the Warrants and any other related agreements.

 

“UCC”
shall mean the Uniform Commercial Code as in effect from time to time in the State of New York; provided, that to the extent that
the Uniform Commercial Code is used to define any term herein and such term is defined differently in different Articles or Divisions
of the Uniform Commercial Code, the definition of such term contained in Article or Division 9 shall govern.

 

 

 

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Section 1A. Replacement
of Collateral Agent. Upon written notice by 50% of the Purchasers that such Purchasers object to Cavalry Fund I LP serving
as Collateral Agent under this Agreement, Cavalry Fund I LP shall be replaced as Collateral Agent by a person or entity which shall
be acceptable to at least 50% of the Purchasers.

 

Section
2.             Representations, Warranties and Covenants of Debtors. Each Debtor represents and warrants to, and covenants
with, the Secured Party as follows:

 

(a)           Such Debtor has or will have rights in and the power to transfer the Collateral in which it purports to grant a security
interest pursuant to Section 3 hereof (subject, with respect to after acquired Collateral, to such Debtor acquiring the same) and
no Lien other than Permitted Indebtedness exists or will exist upon such Collateral at any time.

 

(b)           This Agreement is effective to create in favor of Secured Party a valid security interest in and Lien upon all of such Debtor’s
right, title and interest in and to the Collateral, and upon (i) the filing of appropriate UCC financing statements in the jurisdictions
listed on Schedule I attached hereto, (ii) filings in the United States Patent and Trademark Office, or United States Copyright
Office with respect to Collateral that is Patents and Trademarks, or Copyrights, as the case may be, (iii) the filing of the Mortgages
in the jurisdictions listed on Schedule I hereto, (iv) the delivery to the Secured Party of the Pledged Collateral together
with assignments in blank, (v) the security interest created hereby being noted on each certificate of title evidencing the ownership
of any Motor Vehicle in accordance with Section 4.1(d) hereof and (vi) delivery to the Secured Party or its Representative of Instruments
duly endorsed by such Debtor or accompanied by appropriate instruments of transfer duly executed by such Debtor with respect to
Instruments not constituting Chattel Paper, such security interest will be a duly perfected first priority perfected security interest
(subject to Permitted Indebtedness) in all of the Collateral.

 

(c)           All of the Equipment, Inventory and Goods owned by such Debtor is located at the places as specified on Schedule I
attached hereto. Except as disclosed on Schedule I, none of the Collateral is in the possession of any bailee, warehousemen,
processor or consignee. Schedule I discloses such Debtor’s name as of the date hereof as it appears in official filings
in the state or province, as applicable, of its incorporation, formation or organization, the type of entity of such Debtor (including
corporation, partnership, limited partnership or limited liability company), organizational identification number issued by such
Debtor’s state of incorporation, formation or organization (or a statement that no such number has been issued), such Debtor’s
state or province, as applicable, of incorporation, formation or organization and the chief place of business, chief executive
office and the office where such Debtor keeps its books and records and the states in which such Debtor conducts its business.
Such Debtor has only one state or province, as applicable, of incorporation, formation or organization. Such Debtor does not do
business and has not done business during the past five (5) years under any trade name or fictitious business name except as disclosed
on Schedule II attached hereto.

 

(d)           No Copyrights, Patents or Trademarks listed on Schedules III, IV and V, respectively, if any, have been adjudged
invalid or unenforceable or have been canceled, in whole or in part, or are not presently subsisting. Each of such Copyrights,
Patents and Trademarks (if any) is valid and enforceable. Such Debtor is the sole and exclusive owner of the entire and unencumbered
right, title and interest in and to each of such Copyrights, Patents and Trademarks, identified on Schedules III, IV and V,
as applicable, as being owned by such Debtor, free and clear of any liens, charges and encumbrances, including without limitation
licenses, shop rights and covenants by such Debtor not to sue third persons. Such Debtor has adopted, used and is currently using,
or has a current bona fide intention to use, all of such Trademarks and Copyrights. Such Debtor has no notice of any suits or actions
commenced or threatened with reference to the Copyrights, Patents or Trademarks owned by it.

 

(e)           Each Debtor agrees to deliver to the Secured Party an updated Schedule I, II, III, IV and/or V within five (5) Business
Days of any change thereto.

 

(f)            All depositary and other accounts including, without limitation, Deposit Accounts, securities accounts, brokerage accounts
and other similar accounts, maintained by each Debtor are described on Schedule VI hereto, which description includes for
each such account the name of the Debtor maintaining such account, the name, address and telephone and telecopy numbers of the
financial institution at which such account is maintained, the account number, and the account officer, if any, of such account.
No Debtor shall open any new Deposit Accounts, securities accounts, brokerage accounts or other accounts unless such Debtor shall
have given Secured Party ten (10) Business Days’ prior written notice of its intention to open any such new accounts. Each
Debtor shall deliver to Secured Party a revised version of Schedule VI showing any changes thereto within five (5) Business
Days of any such change. Each Debtor hereby authorizes the financial institutions at which such Debtor maintains an account to
provide Secured Party with such information with respect to such account as Secured Party from time to time reasonably may request,
and each Debtor hereby consents to such information being provided to Secured Party. In addition, all of such Debtor’s depositary,
security, brokerage and other accounts including, without limitation, Deposit Accounts shall be subject to the provisions of Section
4.5 hereof.

 

 

 

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(g)           Such Debtor does not own any Commercial Tort Claim except for those disclosed on Schedule VII hereto (if any).

 

(h)           Such Debtor does not have any interest in real property except as disclosed on Schedule VIII (if any). Each Debtor
shall deliver to Secured Party a revised version of Schedule VIII showing any changes thereto within ten (10) Business Days
of any such change. Except as otherwise agreed to by Secured Party, all such interests in real property are subject to a mortgage
and deed of trust (in form and substance satisfactory to Secured Party) in favor of Secured Party (hereinafter, a “Mortgage”).

 

(i)            Each Debtor shall duly and properly record each interest in real property held by such Debtor except with respect to easements,
rights of way, access agreements, surface damage agreements, surface use agreements or similar agreements that such Debtor,
using prudent customs and practices in the industry in which it operates, does not believe are of material value or material to
the operation of such Debtor’s business or, with respect to state and federal rights of way, are not capable of being
recorded as a matter of state and/or federal law.

 

(j)            All Equipment (including, without limitation, Motor Vehicles) owned by a Debtor and subject to a certificate of title or
ownership statute is described on Schedule IX hereto.

 

Section
3.             
Grant of Security Interest; Collateral. As collateral security for the prompt payment in full when due (whether
at stated maturity, by acceleration or otherwise) of the obligations due the Secured Party under the Notes, each Debtor hereby
pledges and grants to the Secured Party, for the benefit of itself and each Purchaser, a Lien on and security interest in and to
all of such Debtor’s right, title and interest in the following properties and assets of such Debtor, whether now owned by
such Debtor or hereafter acquired and whether now existing or hereafter coming into existence and wherever located (all being collectively
referred to herein as “Collateral”):

 

(a)           all Instruments, together with all payments thereon or thereunder:

 

(b)           all Accounts;

 

(c)           all Inventory;

 

(d)           all General Intangibles (including payment intangibles (as defined in the UCC) and Software);

 

(e)           all Equipment;

 

(f)            all Documents;

 

(g)           all Contracts;

 

(h)           all Goods;

 

(i)            all Investment Property, including without limitation all equity interests now owned or hereafter acquired by such Debtor;

 

(j)            all Deposit Accounts, including, without limitation, the balance from time to time in all bank accounts maintained by such
Debtor;

 

(k)           all Commercial Tort Claims specified on Schedule VII;

 

(l)            all Trademarks, Patents and Copyrights;

 

(m)          all books and records pertaining to the other Collateral; and

 

 

 

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(n)           all other tangible and intangible property of such Debtor, including, without limitation, all interests in real property,
Proceeds, tort claims, products, accessions, rents, profits, income, benefits, substitutions, additions and replacements of and
to any of the property of such Debtor described in the preceding clauses of this Section 3 (including, without limitation, any
proceeds of insurance thereon, insurance claims and all rights, claims and benefits against any Person relating thereto), other
rights to payments not otherwise included in the foregoing, and all books, correspondence, files, records, invoices and other papers,
including without limitation all tapes, cards, computer runs, computer programs, computer files and other papers, documents and
records in the possession or under the control of such Debtor, or any computer bureau or service company from time to time acting
for such Debtor.

 

Notwithstanding anything to the contrary
contained herein or in any Transaction Document, in no event shall the security interest granted herein or therein attach to any
Excluded Assets.

 

Section
4.             Covenants; Remedies. In furtherance of the grant of the pledge and security interest pursuant to Section 3
hereof, each Debtor hereby agrees with the Secured Party as follows:

 

4.1          Delivery and Other Perfection; Maintenance, etc.

 

(a)            
Delivery of Instruments, Documents, Etc. Each Debtor shall deliver and pledge to the Secured Party or its
Representative any and all Instruments, negotiable Documents, Chattel Paper and certificated securities (accompanied by stock powers
executed in blank, which stock powers may be filled in and completed at any time upon the occurrence of any Event of Default) duly
endorsed and/or accompanied by such instruments of assignment and transfer executed by such Debtor in such form and substance as
the Secured Party or its Representative may request; provided, that so long as no Event of Default shall have occurred and
be continuing, each Debtor may retain for collection in the ordinary course of business any Instruments, negotiable Documents and
Chattel Paper received by such Debtor in the ordinary course of business, and the Secured Party or its Representative shall, promptly
upon request of a Debtor, make appropriate arrangements for making any other Instruments, negotiable Documents and Chattel Paper
pledged by such Debtor available to such Debtor for purposes of presentation, collection or renewal (any such arrangement to be
effected, to the extent deemed appropriate by the Secured Party or its Representative, against a trust receipt or like document).
If a Debtor retains possession of any Chattel Paper, negotiable Documents or Instruments pursuant to the terms hereof, such Chattel
Paper, negotiable Documents and Instruments shall be marked with the following legend: “This writing and the obligations
evidenced or secured hereby are subject to the security interest of Cavalry Fund I LP, in its capacity as Collateral Agent for
the benefit of Purchasers, as secured party.”

 

(b)            
Other Documents and Actions. Each Debtor shall give, execute, deliver, file and/or record any financing statement,
registration, notice, instrument, document, agreement, Mortgage or other papers that may be necessary or desirable (in the reasonable
judgment of the Secured Party or its Representative) to create, preserve, perfect or validate the security interest granted pursuant
hereto (or any security interest or mortgage contemplated or required hereunder, including with respect to Section 2(h) of this
Agreement) or to enable the Secured Party or its Representative to exercise and enforce the rights of the Secured Party hereunder
with respect to such pledge and security interest, provided that notices to account debtors in respect of any Accounts or
Instruments shall be subject to the provisions of clause (e) below. Notwithstanding the foregoing each Debtor hereby irrevocably
authorizes the Secured Party at any time and from time to time to file in any filing office in any jurisdiction any initial financing
statements (and other similar filings or registrations under other applicable laws and regulations pertaining to the creation,
attachment, or perfection of security interests) and amendments thereto that (a) indicate the Collateral (i) as all assets of such
Debtor or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope
of Article 9 of the UCC, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information
required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement or amendment,
including (i) whether such Debtor is an organization, the type of organization and any organization identification number issued
to such Debtor, and (ii) in the case of a financing statement filed as a fixture filing, a sufficient description of real property
to which the Collateral relates. Each Debtor agrees to furnish any such information to the Secured Party promptly upon request.
Each Debtor also ratifies its authorization for the Secured Party to have filed in any jurisdiction any like initial financing
statements or amendments thereto if filed prior to the date hereof.

 

 

 

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(c)            
Books and Records. Each Debtor (or a Company on behalf of a Debtor) shall maintain at its own cost and expense
complete and accurate books and records of the Collateral, including, without limitation, a record of all payments received and
all credits granted with respect to the Collateral and all other dealings with the Collateral. Upon the occurrence and during the
continuation of any Event of Default, each Debtor shall deliver and turn over any such books and records (or true and correct copies
thereof) to the Secured Party or its Representative at any time on demand. Each Debtor shall permit any Representative of the Secured
Party to inspect such books and records at any time during reasonable business hours and will provide photocopies thereof at such
Debtor’s expense to the Secured Party upon request of the Secured Party.

 

(d)            
Motor Vehicles. Each Debtor shall, promptly upon acquiring same, cause the Secured Party to be listed as the
lienholder on each certificate of title or ownership covering any items of Equipment, including Motor Vehicles, having a value
in excess of $50,000 individually or in the aggregate for all such items of Equipment of the Debtor, or otherwise comply with the
certificate of title or ownership laws of the relevant jurisdiction issuing such certificate of title or ownership in order to
properly evidence and perfect Secured Party’s security interest in the assets represented by such certificate of title or
ownership.

 

(e)            
Notice to Account Debtors; Verification. (i) Upon the occurrence and during the continuance of any Event of
Default (or if any rights of set-off (other than set-offs against an Account arising under the Contract giving rise to the same
Account) or contra accounts may be asserted, upon request of the Secured Party or its Representative, each Debtor shall promptly
notify (and each Debtor hereby authorizes the Secured Party and its Representative so to notify) each account debtor in respect
of any Accounts or Instruments or other Persons obligated on the Collateral that such Collateral has been assigned to the Secured
Party hereunder, and that any payments due or to become due in respect of such Collateral are to be made directly to the Secured
Party, and (ii) the Secured Party and its Representative shall have the right at any time or times to make direct verification
with the account debtors or other Persons obligated on the Collateral of any and all of the Accounts or other such Collateral.

 

(f)             
Intellectual Property. Each Debtor represents and warrants that the Copyrights, Patents and Trademarks listed
on Schedules III, IV and V, respectively (if any), constitute all of the registered Copyrights and all of the Patents and
Trademarks now owned by such Debtor. If such Debtor shall (i) obtain rights to any new patentable inventions, any registered Copyrights
or any Patents or Trademarks, or (ii) become entitled to the benefit of any registered Copyrights or any Patents or Trademarks
or any improvement on any Patent, the provisions of this Agreement above shall automatically apply thereto and such Debtor shall
give to Secured Party prompt written notice thereof. Each Debtor hereby authorizes Secured Party to modify this Agreement by amending
Schedules III, IV and V, as applicable, to include any such registered Copyrights or any such Patents and Trademarks. Each
Debtor shall have the duty (i) to prosecute diligently any patent, trademark, or service mark applications pending as of the date
hereof or hereafter, (ii) to preserve and maintain all rights in the Copyrights, Patents and Trademarks, to the extent material
to the operations of the business of such Debtor and (iii) to ensure that the Copyrights, Patents and Trademarks are and remain
enforceable, to the extent material to the operations of the business of such Debtor. Any expenses incurred in connection with
such Debtor’s obligations under this Section 4.1(f) shall be borne by such Debtor. Except for any such items that a Debtor
reasonably believes (using prudent industry customs and practices) are no longer necessary for the ongoing operations of its business,
no Debtor shall abandon any material right to file a patent, trademark or service mark application, or abandon any pending patent,
trademark or service mark application or any other Copyright, Patent or Trademark without the prior written consent of Secured
Party, which consent shall not be unreasonably withheld.

 

(g)            
Further Identification of Collateral. Each Debtor will, when and as often as requested by the Secured Party
or its Representative, furnish to the Secured Party or such Representative, statements and schedules further identifying and describing
the Collateral and such other reports in connection with the Collateral as the Secured Party or its Representative may reasonably
request, all in reasonable detail.

 

(h)            
Investment Property. Each Debtor will take any and all actions required or requested by the Secured Party,
from time to time, to (i) cause the Secured Party to obtain exclusive control of any Investment Property owned by such Debtor in
a manner acceptable to the Secured Party and (ii) obtain from any issuers of Investment Property and such other Persons, for the
benefit of the Secured Party, written confirmation of the Secured Party’s control over such Investment Property. For purposes
of this Section 4.1(h), the Secured Party shall have exclusive control of Investment Property if (i) such Investment Property consists
of certificated securities and a Debtor delivers such certificated securities to the Secured Party (with appropriate endorsements
if such certificated securities are in registered form); (ii) such Investment Property consists of uncertificated securities and
either (x) a Debtor delivers such uncertificated securities to the Secured Party or (y) the issuer thereof agrees, pursuant to
documentation in form and substance satisfactory to the Secured Party, that it will comply with instructions originated by the
Secured Party without further consent by such Debtor, and (iii) such Investment Property consists of security entitlements and
either (x) the Secured Party becomes the entitlement holder thereof or (y) the appropriate securities intermediary agrees, pursuant
to the documentation in form and substance satisfactory to the Secured Party, that it will comply with entitlement orders originated
by the Secured Party without further consent by any Debtor.

 

 

 

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(i)             
Commercial Tort Claims. Each Debtor shall promptly notify Secured Party of any Commercial Tort Claim acquired
by it that concerns a claim in excess of $50,000 and unless otherwise consented to by Secured Party, such Debtor shall enter into
a supplement to this Agreement granting to Secured Party a Lien on and security interest in such Commercial Tort Claim.

 

4.2           Other Liens. Debtors will not create, permit or suffer to exist, and will defend the Collateral against and
take such other action as is necessary to remove, any Lien on the Collateral except Permitted Indebtedness, and will defend the
right, title and interest of the Secured Party in and to the Collateral and in and to all Proceeds thereof against the claims and
demands of all Persons whatsoever.

 

4.3           Preservation of Rights. Whether or not any Event of Default has occurred or is continuing, the Secured Party
and its Representative may, but shall not be required to, take any steps the Secured Party or its Representative deems necessary
or appropriate to preserve any Collateral or any rights against third parties to any of the Collateral, including obtaining insurance
for the Collateral at any time when such Debtor has failed to do so, and Debtors shall promptly pay, or reimburse the Secured Party
for, all expenses incurred in connection therewith.

 

4.4           Formation of Subsidiaries; Name Change; Location; Bailees.

 

(a)            
No Debtor shall form or acquire any subsidiary unless (i) such Debtor pledges all of the stock or equity interests
of such subsidiary to the Secured Party pursuant to an agreement in a form agreed to by the Secured Party, (ii) such subsidiary
becomes a party to this Agreement and all other applicable Security Documents and (iii) the formation or acquisition of such Subsidiary
is not prohibited by the terms of the Transaction Documents.

 

(b)            
No Debtor shall (i) reincorporate or reorganize itself under the laws of any jurisdiction other than the jurisdiction
in which it is incorporated or organized as of the date hereof, or (ii) otherwise change its name, identity or corporate structure,
in each case, without the prior written consent of Secured Party, which consent shall not be unreasonably withheld. Each Debtor
will notify Secured Party promptly in writing prior to any such change in the proposed use by such Debtor of any tradename or fictitious
business name other than any such name set forth on Schedule II attached hereto.

 

(c)            
Except for the sale of Inventory in the ordinary course of business and other sales of assets expressly permitted
by the terms of the Purchase Agreement, each Debtor will keep the Collateral at the locations specified in Schedule I. Each
Debtor will give Secured Party thirty (30) day’s prior written notice of any change in such Debtor’s chief place of
business or of any new location for any of the Collateral.

 

(d)            
If any Collateral is at any time in the possession or control of any warehousemen, bailee, consignee or processor,
such Debtor shall, upon the request of Secured Party or its Representative, notify such warehousemen, bailee, consignee or processor
of the Lien and security interest created hereby and shall instruct such Person to hold all such Collateral for Secured Party’s
account subject to Secured Party’s instructions.

 

(e)            
Each Debtor acknowledges that it is not authorized to file any financing statement or amendment or termination statement
with respect to any financing statement without the prior written consent of Secured Party and agrees that it will not do so without
the prior written consent of Secured Party, subject to such Debtor’s rights under Section 9-509(d)(2) to the UCC.

 

(f)             
No Debtor shall enter into any Contract that restricts or prohibits the grant to Secured Party of a security interest
in Accounts, Chattel Paper, Instruments or payment intangibles or the proceeds of the foregoing.

 

4.5           Reserved.

 

4.6           Events of Default, Etc. During the period during which an Event of Default shall have occurred and be continuing:

 

(a)            
each Debtor shall, at the request of the Secured Party or its Representative, assemble the Collateral and make it
available to Secured Party or its Representative at a place or places designated by the Secured Party or its Representative which
are reasonably convenient to Secured Party or its Representative, as applicable, and such Debtor;

 

 

 

    	 	8	 

     

    

 

(b)            
the Secured Party or its Representative may make any reasonable compromise or settlement deemed desirable with respect
to any of the Collateral and may extend the time of payment, arrange for payment in installments, or otherwise modify the terms
of, any of the Collateral;

 

(c)            
the Secured Party shall have all of the rights and remedies with respect to the Collateral of a secured party under
the UCC (whether or not said UCC is in effect in the jurisdiction where the rights and remedies are asserted) and such additional
rights and remedies to which a secured party is entitled under the laws in effect in any jurisdiction where any rights and remedies
hereunder may be asserted, including, without limitation, the right, to the maximum extent permitted by law, to: (i) exercise all
voting, consensual and other powers of ownership pertaining to the Collateral as if the Secured Party were the sole and absolute
owner thereof (and each Debtor agrees to take all such action as may be appropriate to give effect to such right) and (ii) to the
appointment of a receiver or receivers for all or any part of the Collateral or business of a Debtor, whether such receivership
be incident to a proposed sale or sales of such Collateral or otherwise and without regard to the value of the Collateral or the
solvency of any person or persons liable for the payment of the Obligations secured by such Collateral. Each Debtor hereby consents
to the appointment of such receiver or receivers, waives any and all defenses to such appointment and agrees that such appointment
shall in no manner impair, prejudice or otherwise affect the rights of Secured Party under this Agreement. Each Debtor hereby expressly
waives notice of a hearing for appointment of a receiver and the necessity for bond or an accounting by the receiver;

 

(d)            
the Secured Party or its Representative in its discretion may, in the name of the Secured Party or in the name of
a Debtor or otherwise, demand, sue for, collect or receive any money or property at any time payable or receivable on account of
or in exchange for any of the Collateral, but shall be under no obligation to do so;

 

(e)            
the Secured Party or its Representative may take immediate possession and occupancy of any premises owned, used or
leased by a Debtor and exercise all other rights and remedies which may be available to the Secured Party;

 

(f)             
the Secured Party may, upon reasonable notice (such reasonable notice to be determined by Secured Party in its sole
and absolute discretion, which shall not be less than ten (10) days), with respect to the Collateral or any part thereof which
shall then be or shall thereafter come into the possession, custody or control of the Secured Party or its Representative, sell,
lease, license, assign or otherwise dispose of all or any part of such Collateral, at such place or places as the Secured Party
deems best, and for cash or for credit or for future delivery (without thereby assuming any credit risk), at public or private
sale, without demand of performance or notice of intention to effect any such disposition or of the time or place thereof (except
such notice as is required above or by applicable statute and cannot be waived), and the Secured Party or anyone else may be the
purchaser, lessee, licensee, assignee or recipient of any or all of the Collateral so disposed of at any public sale (or, to the
extent permitted by law, at any private sale) and thereafter hold the same absolutely, free from any claim or right of whatsoever
kind, including any right or equity of redemption (statutory or otherwise), of Debtors, any such demand, notice and right or equity
being hereby expressly waived and released. The Secured Party may, without notice or publication, adjourn any public or private
sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for the sale, and such sale
may be made at any time or place to which the sale may be so adjourned; and

 

(g)            
the rights, remedies and powers conferred by this Section 4.6 are in addition to, and not in substitution for, any
other rights, remedies or powers that the Secured Party may have under any Transaction Document, at law, in equity or by or under
the UCC or any other statute or agreement. The Secured Party may proceed by way of any action, suit or other proceeding at law
or in equity and no right, remedy or power of the Secured Party will be exclusive of or dependent on any other. The Secured Party
may exercise any of its rights, remedies or powers separately or in combination and at any time.

 

The proceeds of each collection, sale or
other disposition under this Section 4.6 shall be applied in accordance with Section 4.9 hereof.

 

4.7           Deficiency. If the proceeds of sale, collection or other realization of or upon the Collateral are insufficient
to cover the costs and expenses of such realization and the payment in full of the Obligations, Debtors shall remain jointly and
severally liable for any deficiency.

 

 

 

    	 	9	 

     

    

 

4.8           Private Sale. Each Debtor recognizes that the Secured Party may be unable to effect a public sale of any or
all of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended
(the “Act”), and applicable state securities laws, but may be compelled to resort to one or more private sales
thereof to a restricted group of purchasers who will be obliged to agree, among other things, to acquire such Collateral for their
own account for investment and not with a view to the distribution or resale thereof. Each Debtor acknowledges and agrees that
any such private sale may result in prices and other terms less favorable to the seller than if such sale were a public sale and
each Debtor agrees that it is not commercially unreasonable for Secured Party to engage in any such private sales or dispositions
under such circumstances. The Secured Party shall be under no obligation to delay a sale of any of the Collateral to permit a Debtor
to register such Collateral for public sale under the Act, or under applicable state securities laws, even if Debtors would agree
to do so. The Secured Party shall not incur any liability as a result of the sale of any such Collateral, or any part thereof,
at any private sale provided for in this Agreement conducted in a commercially reasonable manner, and so long as Secured Party
conducts such sale in a commercially reasonable manner each Debtor hereby waives any claims against the Secured Party arising by
reason of the fact that the price at which the Collateral may have been sold at such a private sale was less than the price which
might have been obtained at a public sale or was less than the aggregate amount of the Obligations, even if the Secured Party accepts
the first offer received and does not offer the Collateral to more than one offeree.

 

Each Debtor further agrees
to do or cause to be done all such other acts and things as may be necessary to make such sale or sales of any portion or all of
any such Collateral valid and binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions,
decrees or awards of any and all courts, arbitrators or governmental instrumentalities, domestic or foreign, having jurisdiction
over any such sale or sales, all at such Debtor’s expense. Each Debtor further agrees that a breach of any of the covenants
contained in this Section 4.8 will cause irreparable injury to the Secured Party, that the Secured Party has no adequate remedy
at law in respect of such breach and, as a consequence, agrees that each and every covenant contained in this Section 4.8 shall
be specifically enforceable against Debtors, and each Debtor hereby waives and agrees not to assert any defenses against an action
for specific performance of such covenants except for a defense that no Event of Default has occurred and is continuing.

 

4.9           Application of Proceeds. The proceeds of any collection, sale or other realization of all or any part of the
Collateral, and any other cash at the time held by the Secured Party under this Agreement, shall be applied to the Obligations
in such order as Secured Party shall elect.

 

4.10        
Attorney-in-Fact. Each Debtor hereby irrevocably constitutes and appoints the Secured Party, with full power
of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such
Debtor and in the name of such Debtor or in its own name, from time to time in the discretion of the Secured Party, for the purpose
of carrying out the terms of this Agreement, to take any and all appropriate action and to execute and deliver any and all documents
and instruments which may be necessary or desirable to perfect or protect any security interest granted hereunder, to maintain
the perfection or priority of any security interest granted hereunder, or to otherwise accomplish the purposes of this Agreement,
and, without limiting the generality of the foregoing, hereby gives the Secured Party the power and right, on behalf of such Debtor,
without notice to or assent by such Debtor (to the extent permitted by applicable law), to do the following:

 

(a)            
to take any and all appropriate action and to execute and deliver any and all documents and instruments which may
be necessary or desirable to accomplish the purposes of this Agreement;

 

(b)            
upon the occurrence and during the continuation of an Event of Default, to ask, demand, collect, receive and give
acquittance and receipts for any and all moneys due and to become due under any Collateral and, in the name of such Debtor or its
own name or otherwise, to take possession of and endorse and collect any checks, drafts, notes, acceptances or other Instruments
for the payment of moneys due under any Collateral and to file any claim or to take any other action or proceeding in any court
of law or equity or otherwise deemed appropriate by the Secured Party for the purpose of collecting any and all such moneys due
under any Collateral whenever payable and to file any claim or to take any other action or proceeding in any court of law or equity
or otherwise deemed appropriate by the Secured Party for the purpose of collecting any and all such moneys due under any Collateral
whenever payable;

 

(c)            
to pay or discharge charges or liens levied or placed on or threatened against the Collateral, to effect any insurance
called for by the terms of this Agreement and to pay all or any part of the premiums therefor;

 

 

 

    	 	10	 

     

    

 

(d)            
to direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due,
and to become due thereunder, directly to the Secured Party or as the Secured Party shall direct, and to receive payment of and
receipt for any and all moneys, claims and other amounts due, and to become due at any time, in respect of or arising out of any
Collateral;

 

(e)            
upon the occurrence and during the continuation of an Event of Default, to sign and indorse any invoices, freight
or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications and notices
in connection with accounts and other Documents constituting or relating to the Collateral;

 

(f)             
upon the occurrence and during the continuation of an Event of Default, to commence and prosecute any suits, actions
or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any part thereof and to
enforce any other right in respect of any Collateral;

 

(g)            
upon the occurrence and during the continuation of an Event of Default, to defend any suit, action or proceeding
brought against a Debtor with respect to any Collateral;

 

(h)            
upon the occurrence and during the continuation of an Event of Default, to settle, compromise or adjust any suit,
action or proceeding described above and, in connection therewith, to give such discharges or releases as the Secured Party may
deem appropriate;

 

(i)             
to the extent that a Debtor’s authorization given in Section 4.1(b) of this Agreement is not sufficient to
file such financing statements with respect to this Agreement, with or without such Debtor’s signature, or to file a photocopy
of this Agreement in substitution for a financing statement, as the Secured Party may deem appropriate and to execute in such Debtor’s
name such financing statements and amendments thereto and continuation statements which may require such Debtor’s signature;

 

(j)             
upon the occurrence and during the continuation of an Event of Default, generally to sell, transfer, pledge, make
any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Secured Party
were the absolute owners thereof for all purposes; and

 

(k)            
to do, at the Secured Party’s option and at such Debtor’s expense, at any time, or from time to time,
all acts and things which the Secured Party reasonably deems necessary to protect or preserve or, upon the occurrence and during
the continuation of an Event of Default, realize upon the Collateral and the Secured Party’s lien therein, in order to effect
the intent of this Agreement, all as fully and effectively as such Debtor might do.

 

Each Debtor hereby
ratifies, to the extent permitted by law, all that such attorneys lawfully do or cause to be done by virtue hereof provided the
same is performed in a commercially reasonable manner. The power of attorney granted hereunder is a power coupled with an interest
and shall be irrevocable until the Obligations are indefeasibly paid in full in cash and this Agreement is terminated in accordance
with Section 4.12 hereof.

 

Each Debtor also authorizes
the Secured Party, at any time from and after the occurrence and during the continuation of any Event of Default, (x) to communicate
in its own name with any party to any Contract with regard to the assignment of the right, title and interest of such Debtor in
and under the Contracts hereunder and other matters relating thereto and (y) to execute, in connection with any sale of Collateral
provided for in Section 4.6 hereof, any endorsements, assignments or other instruments of conveyance or transfer with respect to
the Collateral.

 

4.11        Perfection. Prior to or concurrently with the execution and delivery of this Agreement, each Debtor shall:

 

(a)            
file such financing statements, assignments for security and other documents in such offices as may be necessary
or as the Secured Party or the Representative may request to perfect the security interests granted by Section 3 of this Agreement;

 

 

 

    	 	11	 

     

    

 

(b)            
at Secured Party’s request, deliver to the Secured Party or its Representative the originals of all Instruments
together with, in the case of Instruments constituting promissory notes, allonges attached thereto showing such promissory notes
to be payable to the order of a blank payee; and

 

(c)            
deliver to the Secured Party or its Representative the originals of all Motor Vehicle Titles, duly endorsed indicating
the Secured Party’s interest therein as a lienholder, together with such other documents as may be required consistent with
Section 4.1(d) hereof to perfect the security interest granted by Section 3 in all such Motor Vehicles (if any).

 

4.12        Termination; Partial Release of Collateral. This Agreement and the Liens and security interests granted hereunder
shall not terminate until the full and complete performance and indefeasible satisfaction of all of the Notes (including, without
limitation, the indefeasible payment in full in cash of all obligations under such Notes) and (ii) with respect to which claims
have been asserted by Collateral Agent and/or Purchasers, whereupon the Secured Party shall forthwith cause to be assigned, transferred
and delivered, against receipt but without any recourse, warranty or representation whatsoever, any remaining Collateral to or
on the order of Debtors. The Secured Party shall also execute and deliver to Debtors upon such termination and at Debtors’
expense such UCC termination statements, certificates for terminating the liens on the Motor Vehicles (if any) and such other documentation
as shall be reasonably requested by Debtors to effect the termination and release of the Liens and security interests in favor
of the Secured Party affecting the Collateral.

 

4.13        
Further Assurances. At any time and from time to time, upon the written request of the Secured Party or its
Representative, and at the sole expense of Debtors, Debtors will promptly and duly execute and deliver any and all such further
instruments, documents and agreements and take such further actions as the Secured Party or its Representative may reasonably require
in order for the Secured Party to obtain the full benefits of this Agreement and of the rights and powers herein granted in favor
of the Secured Party, including, without limitation, using Debtors’ best efforts to secure all consents and approvals necessary
or appropriate for the assignment to the Secured Party of any Collateral held by Debtors or in which a Debtor has any rights not
heretofore assigned, the filing of any financing or continuation statements under the UCC with respect to the liens and security
interests granted hereby, transferring Collateral to the Secured Party’s possession (if a security interest in such Collateral
can be perfected by possession), placing the interest of the Secured Party as lienholder on the certificate of title of any Motor
Vehicle, and obtaining waivers of liens from landlords and mortgagees. Each Debtor also hereby authorizes the Secured Party and
its Representative to file any such financing or continuation statement without the signature of such Debtor to the extent permitted
by applicable law.

 

4.14        Limitation on Duty of Secured Party. The powers conferred on the Secured Party under this Agreement are solely
to protect the Secured Party’s interest on behalf of itself and Purchasers in the Collateral and shall not impose any duty
upon it to exercise any such powers. The Secured Party shall be accountable only for amounts that it actually receives as a result
of the exercise of such powers and neither the Secured Party nor its Representative nor any of their respective officers, directors,
employees or agents shall be responsible to Debtors for any act or failure to act, except for gross negligence or willful misconduct.
Without limiting the foregoing, the Secured Party and any Representative shall be deemed to have exercised reasonable care in the
custody and preservation of the Collateral in their possession if such Collateral is accorded treatment substantially equivalent
to that which the relevant Secured Party or any Representative, in its individual capacity, accords its own property consisting
of the type of Collateral involved, it being understood and agreed that neither the Secured Party nor any Representative shall
have any responsibility for taking any necessary steps (other than steps taken in accordance with the standard of care set forth
above) to preserve rights against any Person with respect to any Collateral.

 

Also without limiting
the generality of the foregoing, neither the Secured Party nor any Representative shall have any obligation or liability under
any Contract or license by reason of or arising out of this Agreement or the granting to the Secured Party of a security interest
therein or assignment thereof or the receipt by the Secured Party or any Representative of any payment relating to any Contract
or license pursuant hereto, nor shall the Secured Party or any Representative be required or obligated in any manner to perform
or fulfill any of the obligations of Debtors under or pursuant to any Contract or license, or to make any payment, or to make any
inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under
any Contract or license, or to present or file any claim, or to take any action to collect or enforce any performance or the payment
of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

 

 

 

    	 	12	 

     

    

 

Section
5.             
Miscellaneous.

 

5.1           No Waiver. No failure on the part of the Secured Party or any of its Representatives to exercise, and no course
of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise by the Secured Party or any of its Representatives of any right, power or remedy hereunder
preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights and remedies hereunder
provided are cumulative and may be exercised singly or concurrently, and are not exclusive of any rights and remedies provided
by law.

 

5.2           Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws
of any jurisdiction other than the State of New York.

 

5.3           Notices. All notices, approvals, requests, demands and other communications hereunder shall be delivered or
made in the manner set forth in, and shall be effective in accordance with the terms of, the Purchase Agreement; provided, that,
to the extent any such communication (i) is being made or sent to a Debtor that is not a Company, such communication shall be effective
as to such Debtor if made or sent to any Company in accordance with the foregoing or (ii) is being made or sent to Collateral Agent,
such communication shall be made to Collateral Agent at the address set forth below Collateral Agent’s signature hereto.
Debtors and Collateral Agent may change their respective notice addresses by written notice given to each other party five (5)
days prior to the effectiveness of such change.

 

5.4           Amendments, Etc. The terms of this Agreement may be waived, altered or amended only by an instrument in writing
duly executed by the Debtor sought to be charged or benefited thereby and each of the Purchasers. Any such amendment or waiver
shall be binding upon the Secured Party and the Debtor sought to be charged or benefited thereby and their respective successors
and assigns.

 

5.5           Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the respective successors
and assigns of each of the parties hereto, provided, that no Debtor shall assign or transfer its rights hereunder without the prior
written consent of each of the Secured Parties. Any Secured Party, including the Collateral Agent in its capacity as Collateral
Agent, may assign its rights hereunder without the consent of Debtors, in which event such assignee shall be deemed to be Secured
Party and/or Collateral Agent, as applicable, hereunder with respect to such assigned rights; provided, so long as no Event of
Default has occurred and is continuing, no Secured Party shall assign any of its rights hereunder to a competitor of any Company.

 

5.6           Counterparts; Headings. This Agreement may be executed and/or authenticated in any number of counterparts,
all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute and/or authenticate
this Agreement by signing any such counterpart. This Agreement may be authenticated by manual signature or facsimile, .pdf or other
electronic signature, including DocuSign, all of which shall be equally valid. The headings in this Agreement are for convenience
of reference only and shall not alter or otherwise affect the meaning hereof.

 

5.7           Severability. If any provision hereof is invalid and unenforceable in any jurisdiction, then, to the fullest
extent permitted by law, (a) the other provisions hereof shall remain in full force and effect in such jurisdiction and shall be
liberally construed in favor of the Secured Party and its Representative in order to carry out the intentions of the parties hereto
as nearly as may be possible and (b) the invalidity or unenforceability of any provision hereof in any jurisdiction shall not affect
the validity or enforceability of such provision in any other jurisdiction.

 

5.8           SUBMISSION TO JURISDICTION; WAIVER OF VENUE; SERVICE OF PROCESS. EACH DEBTOR HEREBY IRREVOCABLY
SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT SITTING IN THE CITY OF NEW YORK, BOROUGH
OF MANHATTAN IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND EACH DEBTOR HEREBY IRREVOCABLY AGREES
THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY
OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH
COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF SECURED PARTY TO BRING PROCEEDINGS AGAINST ANY DEBTOR IN
THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY A DEBTOR AGAINST SECURED PARTY, ANY PURCHASER OR ANY AFFILIATE
THEREOF INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTION WITH THIS AGREEMENT
SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK (AND SECURED PARTY AND PURCHASERS HEREBY SUBMIT TO THE JURISDICTION OF SUCH
COURT). EACH DEBTOR HERETO HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH
ACTION OR PROCEEDING BY MAILING BY REGISTERED OR CERTIFIED MAIL A COPY THEREOF TO SUCH DEBTOR AT THE ADDRESS FOR NOTICES TO IT
IN ACCORDANCE WITH SECTION 5.3 OF THIS AGREEMENT AND AGREES THAT SUCH NOTICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS
AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT OF SECURED PARTY OR ANY PURCHASER TO
SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.

 

 

 

    	 	13	 

     

    

 

5.9           WAIVER OF RIGHT TO TRIAL BY JURY. EACH DEBTOR AND SECURED PARTY WAIVE THEIR RESPECTIVE RIGHTS TO A TRIAL
BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR PARTIES,
WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH DEBTOR AND SECURED PARTY AGREE THAT ANY SUCH CLAIM OR
CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT
THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION 5.9 AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING
WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER
SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

 

5.10        Joint
and Several. The obligations, covenants and agreements of Debtors hereunder shall be the joint and several obligations, covenants
and agreements of each Debtor, whether or not specifically stated herein without preferences or distinction among them.

 

5.11        Collateral
Agent and Purchaser Indemnification.

 

(a)            
Each Purchaser has, pursuant to the Securities Purchase Agreements, designated and appointed the Collateral Agent
as the administrative agent of such Purchaser under this Agreement and the related agreements.

 

(b)            
Nothing in this Section 5.11 shall be deemed to limit or otherwise affect the rights of Secured Party or Purchasers
to exercise any remedy provided in this Agreement or any other Transaction Document.

 

(c)            
If pursuant to any related agreement Secured Party is given the discretion to allocate proceeds received by Secured
Party pursuant to the exercise of remedies under the related agreements or at law or in equity (including without limitation with
respect to any secured creditor remedies exercised against the Collateral and any other collateral security provided for under
any related agreement), Secured Party shall apply such proceeds to the then outstanding Obligations in the following order of priority
(with amounts received being applied in the numerical order set forth below until exhausted prior to the application to the next
succeeding category and each of the Purchasers or other Persons entitled to payment shall receive an amount equal to its pro rata
share of amounts available to be applied pursuant to clauses second, third and fourth below):

 

first, to payment
of fees, costs and expenses (including reasonable attorney’s fees) owing to the Secured Party;

 

second, to payment
of all accrued unpaid interest and fees (other than fees owing to Collateral Agent) on the Obligations;

 

third, to payment
of principal of the Obligations;

 

fourth, to payment
of any other amounts owing constituting Obligations; and

 

fifth, any remainder
shall be for the account of and paid to whoever may be lawfully entitled thereto.

 

5.12        No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

5.13        ENTIRE
AGREEMENT; AMENDMENT. THIS AGREEMENT, TOGETHER WITH THE OTHER TRANSACTION DOCUMENTS, SUPERSEDES ALL OTHER PRIOR ORAL OR WRITTEN
AGREEMENTS BETWEEN SECURED PARTY, THE DEBTORS, THEIR AFFILIATES AND PERSONS ACTING ON THEIR BEHALF WITH RESPECT TO THE MATTERS
DISCUSSED HEREIN, AND THIS AGREEMENT, TOGETHER WITH THE OTHER TRANSACTION DOCUMENTS AND THE OTHER INSTRUMENTS REFERENCED HEREIN
AND THEREIN, CONTAIN THE ENTIRE UNDERSTANDING OF THE PARTIES WITH RESPECT TO THE MATTERS COVERED HEREIN AND THEREIN AND, EXCEPT
AS SPECIFICALLY SET FORTH HEREIN OR THEREIN, NEITHER THE SECURED PARTY NOR ANY DEBTOR MAKES ANY REPRESENTATION, WARRANTY, COVENANT
OR UNDERTAKING WITH RESPECT TO SUCH MATTERS. AS OF THE DATE OF THIS AGREEMENT, THERE ARE NO UNWRITTEN AGREEMENT BETWEEN THE PARTIES
WITH RESPECT TO THE MATTERS DISCUSSED HEREIN. NO PROVISION OF THIS AGREEMENT MAY BE AMENDED, MODIFIED OR SUPPLEMENTED OTHER THAN
BY AN INSTRUMENT IN WRITING SIGNED BY THE DEBTORS AND THE SECURED PARTY.

 

- Remainder
of Page Intentionally Left Blank; Signature Page Follows -

 

 

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Security Agreement to be duly executed and delivered as of the day and year first above written.

 

DEBTOR:

 

	 	
        Probility Media Corp.,
        a Nevada corporation

         

        By: ____________________________

        Name: Steven M. Plumb

        Title: Chief Financial Officer

	 	 
	 	 
	 	 

 

 

 

    	 	15	 

     

    

 

 

 

	 	COLLATERAL AGENT:
	 	 
	 	Cavalry Fund I LP, a Delaware limited partnership, in its capacity as Collateral Agent for Purchasers
	 	 
	 	 
	 	By:_____________________________
	 	       Name:
	 	       Title:
	 	 
	 	Notice Address:
	 	 
	 	Cavalry Fund I LP
	 	61 Kinderkamack Road
	 	Woodcliff Lake, NJ 07677

 

 

 

 

 

    	 	16	 

     

    

 

EXHIBIT A

 

Form of Joinder

Joinder to Security Agreement

 

The undersigned, ________________________,
hereby joins in the execution of that certain Security Agreement dated as of May 17 , 2018 (as amended, restated, supplemented
or otherwise modified from time to time, the “Security Agreement”) by ProBility Media Corp., a Nevada corporation,
the Purchasers (as defined therein), and each other Person that becomes a Debtor or a Purchaser thereunder after the date thereof
and hereof and pursuant to the terms thereof, to and in favor of Cavalry Fund I LP, a Delaware limited partnership, in its capacity
as Collateral Agent for Purchasers. By executing this Joinder, the undersigned hereby agrees that it is a Debtor thereunder and
agrees to be bound by all of the terms and provisions of the Security Agreement. The undersigned represents and warrants that the
representations and warranties set forth in the Security Agreement are, with respect to the undersigned, true and correct as of
the date hereof.

 

The undersigned represents
and warrants to Secured Party that:

 

(a)           all of the Equipment, Inventory and Goods owned by such Debtor is located at the places as specified on Schedule I
and such Debtor conducts business in the jurisdiction set forth on Schedule I;

 

(b)           except as disclosed on Schedule I, none of such Collateral is in the possession of any bailee, warehousemen, processor
or consignee;

 

(c)           the chief place of business, chief executive office and the office where such Debtor keeps its books and records are located
at the place specified on Schedule I;

 

(d)           such Debtor (including any Person acquired by such Debtor) does not do business or has not done business during the past
five years under any tradename or fictitious business name, except as disclosed on Schedule II;

 

(e)           all Copyrights, Patents and Trademarks owned or licensed by the undersigned are listed in Schedules III, IV
and V, respectively;

 

(f)            all Deposit Accounts, securities accounts, brokerage accounts and other similar accounts maintained by such Debtor, and
the financial institutions at which such accounts are maintained, are listed on Schedule VI;

 

(g)           all Commercial Tort Claims of such Debtor are listed on Schedule VII;

 

(h)           all interests in real property and mining rights held by such Debtor are listed on Schedule VIII;

 

(i)            all Equipment (including Motor Vehicles) owned by such debtor are listed on Schedule IX.

 

 

	 	________________, a ________
	 	By:____________
	 	Title:
	 	FEIN: ______________
	 	 

 

 

 

    	 	17Exhibit 10.1

 

Employment
Agreement

 

This Employment
Agreement (the “Agreement”) is made and entered into as of May 17, 2018 (the “Effective Date”),
by and between J. Mark Goode, an individual (the “Executive”), and Hash Labs Inc., a Nevada corporation (the
“Company”).

 

WHEREAS, the
Company desires to employ the Executive on the terms and conditions set forth herein; and

 

WHEREAS, the
Executive desires to be employed by the Company on such terms and conditions.

 

NOW, THEREFORE,
in consideration of the mutual covenants, promises, and obligations set forth herein, the parties agree as follows:

 

1.             
Term.
The Executive’s employment hereunder shall be effective as of the Effective Date and shall continue until the third anniversary
thereof (the “Initial Term”), unless terminated earlier pursuant to Section 4 of this Agreement; provided that, on
such third anniversary, the Agreement may be extended, upon the same terms and conditions, for successive periods of two years
(each, a “Renewal Term”), upon the mutual written consent of the Company and Executive. The period during which the
Executive is employed by the Company hereunder is hereinafter referred to as the “Employment Term.”

 

2.             
Position.

 

During the Employment
Term, the Executive shall serve as the Chief Executive Officer of the Company, reporting to the Board of Directors of the Company
(the “Board”). In such position, the Executive shall have such duties, authority, and responsibility as shall
be determined from time to time by the Board, which duties, authority, and responsibility are consistent with the Executive’s
position. The Executive will also serve on the Board of Directors of the Company during the Employment Term, subject to applicable
provisions of the Nevada Revised Statues.

 

3.             
Compensation.

 

Base
Salary. The Company shall pay the Executive an initial base salary of $8,000 per month
in periodic installments in accordance with the Company’s customary payroll practices and applicable wage payment law. The
Base Salary will commence upon the closing by the Company of its first round of funding and be calculated from May 17, 2018. The
Executive’s monthly Base Salary will increase during the Employment Term as follows:

 

		v	Complete
                                         “Series B” funding round @ $5 million + $2,500 = $10,500 per month
		v	Launch
                                         of CXAU Community Membership Presale + $2,500 = $13,000 per month
		v	Completion
                                         of NYSE American Listing + $2,500 = $15,500 per month
		v	Launch
                                         of CXAU Trading Exchange Ledger + $2,500 = $18,000 per month
		v	Additional
                                         increases in Base Salary shall be at the discretion of the Board

 

     

     

    

 

3.1               
The Executive’s base salary, as in effect from time to time, is
hereinafter referred to as “Base Salary”.

 

3.2               
Equity Awards.

 

(a)                
The Company shall grant the Executive the following equity awards:

 

(a)         
Upon the execution of this Agreement, the Company shall issue to Executive common stock equal to 500,000 shares.

 

(b)        
After one year of Executive serving as the Company’s chief executive officer, the Company shall issue to Executive additional
shares of common stock equal to 1% of the outstanding shares of the Company, at the time of issuance.

 

(c)       
After two years of Executive serving as the Company’s chief executive officer, the Company shall issue to Executive additional
shares of common stock equal to 1% of the outstanding shares of the Company, at the time of issuance.

 

(c)       
After three years of Executive serving as the Company’s chief executive officer, the Company shall issue to Executive additional
shares of common stock equal to 1% of the outstanding shares of the Company, at the time of issuance.

 

3.3     
Fringe
Benefits and Perquisites. During the Employment Term, the Executive
shall be entitled to fringe benefits and perquisites consistent in accordance with the practices of the Company, and to the extent
the Company provides similar benefits or perquisites (or both) to similarly situated executives of the Company.

 

3.4     
Employee
Benefits. During the Employment Term, the Executive shall be entitled
to participate in all employee benefit plans, practices, and programs maintained by the Company, as in effect from time to time
(collectively, “Employee Benefit Plans”), on a basis which is no less favorable than is provided to other similarly
situated executives of the Company, to the extent consistent with applicable law and the terms of the applicable Employee Benefit
Plans. The Company reserves the right to amend or cancel any Employee Benefit Plans at any time in its sole discretion, subject
to the terms of such Employee Benefit Plan and applicable law.

 

3.6       Indemnification.
In the event that the Executive is made a party or threatened to be made a party to any action, suit, or proceeding, whether civil,
criminal, administrative, or investigative (a “Proceeding”), other than any Proceeding initiated by the Executive
or the Company related to any contest or dispute between the Executive and the Company, or any of its affiliates with respect
to this Agreement, or the Executive’s employment hereunder, by reason of the fact that the Executive is or was a director
or officer of the Company, or any affiliate of the Company, or is or was serving at the request of the Company as a director,
officer, member, employee, or agent of another corporation or a partnership, joint venture, trust, or other enterprise, the Executive
shall be indemnified and held harmless by the Company to the fullest extent applicable to any other officer or director of the
Company from and against any liabilities, costs, claims, and expenses, including all costs and expenses incurred in defense of
any Proceeding (including attorneys’ fees). ‘

 

    2 

     

    

 

3.7       Insurance.
The Company shall maintain, during the Employment Term, reasonable and customary directors and officers insurance, cyber liability,
and errors and omissions insurance.

 

4.             
Termination of Employment.
Upon termination of the Executive’s employment during the Initial Term or a Renewal Term, the Executive shall be entitled
to the compensation and benefits described in this Section 4 and shall have no further rights to any compensation or any other
benefits from the Company or any of its affiliates.

 

4.1               
Company’s
Termination for Cause or Executive’s Termination without Good Reason.

 

(a)                
The Executive’s employment hereunder may be terminated by the Company for Cause (as
determined in good faith by the Board of Directors) or by the Executive without Good Reason. If the Executive’s by the Company
for Cause or by the Executive without Good Reason, the Executive shall be entitled to receive:

 

(i)                  
any accrued but unpaid Base Salary and accrued but unused vacation, which shall be paid
on the Termination Date (as defined below);

 

(ii)                
reimbursement for unreimbursed business expenses properly incurred by the Executive, which
shall be subject to and paid in accordance with the Company’s expense reimbursement policy; and

 

(iii)               
such employee benefits (including equity compensation), if any, to which the Executive
may be entitled under the Company’s employee benefit plans as of the Termination Date; provided that, in no event shall
the Executive be entitled to any payments in the nature of severance or termination payments except as specifically provided herein.

 

Items
4.1(a)(i) through 4.1(a)(iii) are referred to herein collectively as the “Accrued Amounts”.

 

(b)                
For purposes of this Agreement, “Cause” shall mean:

 

(i)                  
the Executive’s willful failure to perform his duties (other than any such failure
resulting from incapacity due to physical or mental illness);

 

(ii)                
the Executive’s willful failure to comply with any valid and legal directive of the
Board;

 

(iii)               
the Executive’s willful engagement in dishonesty, illegal conduct, or misconduct,
which is, in each case, materially injurious to the Company or its affiliates;

 

(iv)              
the Executive’s embezzlement, misappropriation, or fraud, whether or not related
to the Executive’s employment with the Company;

 

    3 

     

    

 

(v)                
the Executive’s conviction of, or plea of, guilty or nolo contendere to a crime that
constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude;

 

(vi)              
the Executive’s violation of a material policy of the Company;

 

(vii)             
the Executive’s willful unauthorized disclosure of Confidential Information (as defined
below);

 

(viii)           
the Executive’s material breach of any material obligation under this Agreement or
any other written agreement between the Executive and the Company; or

 

(ix)              
any material failure by the Executive to comply with the Company’s written policies
or rules, as they may be in effect from time to time during the Employment Term, if such failure causes material/reputational
or financial harm to the Company.

 

For purposes
of this provision, no act or failure to act on the part of the Executive shall be considered “willful” unless it is
done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission
was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly
adopted by the Board or upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be
done, by the Executive in good faith and in the best interests of the Company.

 

(c)                
For purposes of this Agreement, “Good Reason” shall mean the occurrence
of any of the following, in each case during the Employment Term without the Executive’s written consent:

 

(i)                  
a material reduction in the Executive’s Base Salary;;

 

(ii)                
any material breach by the Company of any material provision of this Agreement or any material
provision of any other agreement between the Executive and the Company;

 

(iii)               
the Company’s failure to obtain an agreement from any successor to the Company 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 succession had taken place, except where such assumption occurs by operation of law;

 

(iv)              
a material, adverse change in the Executive’s title, authority, duties, or responsibilities
(other than temporarily while the Executive is physically or mentally incapacitated or as required by applicable; or

 

(v)                
requiring Executive to report to any person, other than the Board.

 

    4 

     

    

 

4.2               
Death
or Disability. 

 

(a)                
The Executive’s employment hereunder shall terminate automatically upon the Executive’s
death during the Employment Term, and the Company may terminate the Executive’s employment on account of the Executive’s
Disability (as defined below).

 

(b)                
If the Executive’s employment is terminated during the Employment Term on account
of the Executive’s death or Disability (as defined below), the Executive (or the Executive’s estate and/or beneficiaries,
as the case may be) shall be entitled to receive the Accrued Amounts.

 

Notwithstanding
any other provision contained herein, all payments made in connection with the Executive’s Disability (as defined below)
shall be provided in a manner which is consistent with federal and state law.

 

(c)                
For purposes of this Agreement, “Disability” shall mean the Executive’s
inability, due to physical or mental incapacity, to perform the essential functions of his job, with or without reasonable accommodation,
for one hundred eighty (180) days out of any three hundred sixty-five (365) day period. Any question as to the existence of the
Executive’s Disability as to which the Executive and the Company cannot agree shall be determined in writing by a qualified
independent physician mutually acceptable to the Executive and the Company. If the Executive and the Company cannot agree as to
a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall
make such determination in writing. The determination of Disability made in writing to the Company and the Executive shall be
final and conclusive for all purposes of this Agreement.

 

4.3               
Notice
of Termination. Subject to Section 1 and Section 4, above, any termination
of the Executive’s employment hereunder by the Company or by the Executive during the Employment Term (other than termination
pursuant to Section 4.3(a) on account of the Executive’s death) shall be communicated by written notice of termination (“Notice
of Termination”) to the other party hereto in accordance with Section 17. The Notice of Termination shall specify:

 

(a)                
The termination provision of this Agreement relied upon;

 

(b)                
To the extent applicable, the facts and circumstances claimed to provide a basis for termination
of the Executive’s employment under the provision so indicated; and

 

(c)                
The applicable Termination Date.

 

    5 

     

    

 

4.4               
Termination
Date. Subject to Section 1 and Section 4, above, the Executive’s
“Termination Date” shall be: 

 

(a)                
If the Executive’s employment hereunder terminates on account of the Executive’s
death, the date of the Executive’s death;

 

(b)                
If the Executive’s employment hereunder is terminated on account of the Executive’s
Disability, the date that it is determined that the Executive has a Disability;

 

(c)                
If the Company terminates the Executive’s employment hereunder for Cause, the date
the Notice of Termination is delivered to the Executive;

 

(d)                
If the Company terminates the Executive’s employment hereunder without Cause, the
date specified in the Notice of Termination, which shall be no less than 30 days following the date on which the Notice of Termination
is delivered; and

 

(e)                
If the Executive terminates his employment hereunder with or without Good Reason, the date
specified in the Executive’s Notice of Termination, which shall be no less than 30 days following the date on which the
Notice of Termination is delivered.

 

4.5               
Mitigation.
In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts
payable to the Executive under any of the provisions of this Agreement and any amounts payable pursuant to this Section 4 shall
not be reduced by compensation the Executive earns on account of employment with another employer.

 

4.6               
Resignation
of All Other Positions. Upon termination of the Executive’s
employment hereunder for any reason, the Executive, effective on the Termination Date shall be deemed to have resigned from all
positions that the Executive holds as an officer or member of the Board (or a committee thereof) of the Company or any of its
affiliates.

 

5.             
Cooperation.
The parties agree that certain matters in which the Executive will be involved during the Employment Term may necessitate the
Executive’s cooperation in the future. Accordingly, following the termination of the Executive’s employment for any
reason, to the extent reasonably requested by the Board, the Executive shall cooperate with the Company in connection with matters
arising out of the Executive’s service to the Company; provided that, the Company shall make reasonable efforts to minimize
disruption of the Executive’s other activities. The Company shall reimburse the Executive for reasonable expenses incurred
in connection with such cooperation and, to the extent that the Executive is required to spend substantial time on such matters,
the Company shall compensate the Executive at an hourly rate based on the Executive’s Base Salary on the Termination Date.

 

6.             
Confidential
Information. The Executive understands and acknowledges that during
the Employment Term, he will have access to and learn about Confidential Information, as defined below.

 

    6 

     

    

 

6.1               
Confidential
Information Defined. 

 

(a)                
Definition.

 

For purposes
of this Agreement, “Confidential Information” includes, but is not limited to, all information not generally
known to the public, in spoken, printed, electronic or any other form or medium, relating directly or indirectly to: business
processes, practices, methods, policies, plans, publications, documents, research, operations, services, strategies, techniques,
agreements, contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations, know-how,
trade secrets, , databases, manuals, records, articles, systems, material, sources of material, supplier information, vendor information,
financial information, results, accounting information, accounting records, legal information, marketing information, advertising
information, pricing information, credit information, design information, payroll information, staffing information, personnel
information, employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures, graphics,
drawings, sketches, market studies, sales information, revenue, costs, formulae, notes, communications, algorithms, product plans,
designs, styles, models, ideas, audiovisual programs, inventions, unpublished patent applications, original works of authorship,
discoveries, experimental processes, experimental results, specifications, customer information, manufacturing information, factory
lists, distributor lists, and buyer lists of the Company or its businesses or any existing or prospective customer, supplier,
investor or other associated third party, or of any other person or entity that has entrusted information to the Company in confidence.

 

The Executive
understands that the above list is not exhaustive, and that Confidential Information also includes other information that is marked
or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential
or proprietary in the context and circumstances in which the information is known or used.

 

The Executive
understands and agrees that Confidential Information includes information developed by him in the course of his employment by
the Company as if the Company furnished the same Confidential Information to the Executive in the first instance. Confidential
Information shall not include information that is generally available to and known by the public at the time of disclosure to
the Executive; provided that, such disclosure is through no direct or indirect fault of the Executive or person(s) acting on the
Executive’s behalf.

 

 (b)                
Company Creation and Use of Confidential Information.

 

The Executive
understands and acknowledges that the Company has invested, and continues to invest, substantial time, money, and specialized
knowledge into developing its resources, and training its employees. The Executive understands and acknowledges that as a result
of these efforts, the Company has created, and continues to use and create Confidential Information. This Confidential Information
provides the Company with a competitive advantage over others in the marketplace.

 

    7 

     

    

 

(c)                
Disclosure and Use Restrictions.

 

The Executive
agrees and covenants: (i) to treat all Confidential Information as strictly confidential; (ii) not to directly or indirectly disclose,
publish, communicate, or make available Confidential Information, or allow it to be disclosed, published, communicated, or made
available, in whole or part, to any entity or person whatsoever (including other employees of the Company) not having a need to
know and authority to know and use the Confidential Information in connection with the business of the Company and, in any event,
not to anyone outside of the direct employ of the Company except as required in the performance of the Executive’s authorized
employment duties to the Company or with the prior consent of the Board acting on behalf of the Company in each instance (and
then, such disclosure shall be made only within the limits and to the extent of such duties or consent); and (iii) not to access
or use any Confidential Information, and not to copy any documents, records, files, media, or other resources containing any Confidential
Information, or remove any such documents, records, files, media, or other resources from the premises or control of the Company,
except as required in the performance of the Executive’s authorized employment duties to the Company or with the prior consent
of the Board acting on behalf of the Company in each instance (and then, such disclosure shall be made only within the limits
and to the extent of such duties or consent. Nothing herein shall be construed to prevent disclosure of Confidential Information
as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an
authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation,
or order. The Executive shall promptly provide written notice of any such order to the Board.

 

(d)                
Notice of Immunity Under the Economic Espionage Act of 1996, as amended by the Defend
Trade Secrets Act of 2016 (“DTSA”). Notwithstanding any other provision of this Agreement: 

 

(i)                  
The Executive will not be held criminally or civilly liable under any federal or state
trade secret law for any disclosure of a trade secret that:

 

(A)               
 is made (1) in confidence to a federal, state, or local government official, either directly
or indirectly, or to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law; or

 

(B)               
is made in a complaint or other document filed under seal in a lawsuit or other proceeding.

 

(ii)                
If the Executive files a lawsuit for retaliation by the Company for reporting a suspected
violation of law, the Executive may disclose the Company’s trade secrets to the Executive’s attorney and use the trade
secret information in the court proceeding if the Executive:

 

    8 

     

    

 

(A)               
 files any document containing trade secrets under seal; and

 

(B)               
does not disclose trade secrets, except pursuant to court order.

 

7.             
Proprietary
Rights.

 

7.1               
Work
Product. The Executive acknowledges and agrees that all right, title,
and interest in and to all writings, works of authorship, technology, inventions, discoveries, processes, techniques, methods,
ideas, concepts, research, proposals, materials, and all other work product of any nature whatsoever, that are created, prepared,
produced, authored, edited, amended, conceived, or reduced to practice by the Executive individually or jointly with others during
the period of his employment by the Company and relate in any way to the business or contemplated business, products, activities,
research, or development of the Company or result from any work performed by the Executive for the Company (in each case, regardless
of when or where prepared or whose equipment or other resources is used in preparing the same), all rights and claims related
to the foregoing, and all printed, physical and electronic copies, and other tangible embodiments thereof (collectively, “Work
Product”), as well as any and all rights in and to US and foreign (a) patents, patent disclosures and inventions (whether
patentable or not), (b) trademarks, service marks, trade dress, trade names, logos, corporate names, and domain names, and other
similar designations of source or origin, together with the goodwill symbolized by any of the foregoing, (c) copyrights and copyrightable
works (including computer programs), and rights in data and databases, (d) trade secrets, know-how, and other confidential information,
and (e) all other intellectual property rights, in each case whether registered or unregistered and including all registrations
and applications for, and renewals and extensions of, such rights, all improvements thereto and all similar or equivalent rights
or forms of protection in any part of the world (collectively, “Intellectual Property Rights”), shall be the
sole and exclusive property of the Company.

 

For
purposes of this Agreement, Work Product includes, but is not limited to, Company information, including plans, publications,
research, strategies, techniques, agreements, documents, contracts, terms of agreements, negotiations, know-how, work in process,
databases, manuals, results, developments, reports, graphics, market studies, formulae, notes, communications, algorithms, product
plans, product designs, models, inventions, unpublished patent applications, original works of authorship, discoveries, experimental
processes, experimental results, specifications, manufacturing information, marketing information, advertising information, and
sales information.

 

7.2               
Work
Made for Hire; Assignment. The Executive acknowledges that, by reason
of being employed by the Company at the relevant times, to the extent permitted by law, all of the Work Product consisting of
copyrightable subject matter is “work made for hire” as defined in 17 U.S.C. § 101 and such copyrights are therefore
owned by the Company. To the extent that the foregoing does not apply, the Executive hereby irrevocably assigns to the Company,
for no additional consideration, the Executive’s entire right, title, and interest in and to all Work Product and Intellectual
Property Rights therein, including the right to sue, counterclaim, and recover for all past, present, and future infringement,
misappropriation, or dilution thereof, and all rights corresponding thereto throughout the world. Nothing contained in this Agreement
shall be construed to reduce or limit the Company’s rights, title, or interest in any Work Product or Intellectual Property
Rights so as to be less in any respect than that the Company would have had in the absence of this Agreement.

 

    9 

     

    

 

7.3               
Further
Assurances; Power of Attorney. During and after his employment, the
Executive agrees to reasonably cooperate with the Company to (a) apply for, obtain, perfect, and transfer to the Company the Work
Product as well as any and all Intellectual Property Rights in the Work Product in any jurisdiction in the world; and (b) maintain,
protect and enforce the same, including, without limitation, giving testimony and executing and delivering to the Company any
and all applications, oaths, declarations, affidavits, waivers, assignments, and other documents and instruments as shall be requested
by the Company. The Executive hereby irrevocably grants the Company power of attorney to execute and deliver any such documents
on the Executive’s behalf in his name and to do all other lawfully permitted acts to transfer the Work Product to the Company
and further the transfer, prosecution, issuance, and maintenance of all Intellectual Property Rights therein, to the full extent
permitted by law, if the Executive does not promptly cooperate with the Company’s request (without limiting the rights the
Company shall have in such circumstances by operation of law). The power of attorney is coupled with an interest and shall not
be affected by the Executive’s subsequent incapacity.

 

7.4               
No
License. The Executive understands that this Agreement does not, and
shall not be construed to, grant the Executive any license or right of any nature with respect to any Work Product or Intellectual
Property Rights or any Confidential Information, materials, software, or other tools made available to him by the Company.

 

8.             
Security.

 

8.1               
Security and Access.
The Executive agrees and covenants to comply with all Company security policies and procedures as in force from time to time.

 

8.2               
Exit
Obligations. Upon (a) voluntary or involuntary termination of the
Executive’s employment or (b) the Company’s request at any time during the Executive’s employment, the Executive
shall (i) provide or return to the Company any and all Company property, and all Company documents and materials belonging to
the Company and stored in any fashion, including but not limited to those that constitute or contain any Confidential Information
or Work Product, that are in the possession or control of the Executive, whether they were provided to the Executive by the Company
or any of its business associates or created by the Executive in connection with his employment by the Company; and (ii) delete
or destroy all copies of any such documents and materials not returned to the Company that remain in the Executive’s possession
or control, including those stored on any non-Company devices, networks, storage locations, and media in the Executive’s
possession or control.

 

    10 

     

    

 

9.             
Governing
Law: Jurisdiction and Venue. Except as otherwise set forth herein,
this Agreement, for all purposes, shall be construed in accordance with the laws of Florida without regard to conflicts of law
principles. Any action or proceeding by either of the parties to enforce this Agreement shall be brought only in a state or federal
court located in the State of Florida, county of Miami-Dade. The parties hereby irrevocably submit to the exclusive jurisdiction
of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue.

 

10.          
Entire
Agreement. Unless specifically provided herein, this Agreement contains
all of the understandings and representations between the Executive and the Company pertaining to the subject matter hereof and
supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with
respect to such subject matter. The parties mutually agree that the Agreement can be specifically enforced in court and can be
cited as evidence in legal proceedings alleging breach of the Agreement.

 

11.          
Modification
and Waiver. No provision of this Agreement may be amended or modified
unless such amendment or modification is agreed to in writing and signed by the Executive and the Company. No waiver by either
of the parties of any breach by the other party hereto of any condition or provision of this Agreement to be performed by the
other party hereto shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent
time, nor shall the failure of or delay by either of the parties in exercising any right, power, or privilege hereunder operate
as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power, or privilege.

 

12.          
Severability.
Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if
any portion of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of
the remainder of this Agreement, the balance of which shall continue to be binding upon the parties with any such modification
to become a part hereof and treated as though originally set forth in this Agreement.

 

The parties further
agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing
such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or
all of the offending provision, adding additional language to this Agreement, or by making such other modifications as it deems
warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted by law.

 

The parties expressly
agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of them. In any event,
should one or more of the provisions of this Agreement be held to be invalid, illegal, or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other provisions hereof, and if such provision or provisions are not modified
as provided above, this Agreement shall be construed as if such invalid, illegal, or unenforceable provisions had not been set
forth herein.

 

13.          
Captions.
Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of
this Agreement is to be construed by reference to the caption or heading of any section or paragraph.

 

    11 

     

    

 

14.          
Counterparts.
This Agreement may be executed in separate counterparts, each of which shall be deemed an original, but all of which taken together
shall constitute one and the same instrument.

 

15.          
Successors
and Assigns. This Agreement is personal to the Executive and shall
not be assigned by the Executive. Any purported assignment by the Executive shall be null and void from the initial date of the
purported assignment. The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase,
merger, consolidation, or otherwise) to all or substantially all of the business or assets of the Company. This Agreement shall
inure to the benefit of the Company and permitted successors and assigns.

 

16.          
Notice.
Notices and all other communications provided for in this Agreement shall be in writing and shall be delivered personally or sent
by registered or certified mail, return receipt requested, or by overnight carrier to the parties at the addresses set forth below
(or such other addresses as specified by the parties by like notice):

 

If to the Company:

 

Hash Labs Inc.

301 Yamato Road,
Suite 1240

Boca Raton, FL
33431

 

If to the Executive:

 

J. Mark Goode

 

17.          
Withholding.
The Company shall have the right to withhold from any amount payable hereunder any Federal, state, and local taxes in order for
the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation.

 

18.          
Survival.
Upon the expiration or other termination of this Agreement, the respective rights and obligations of the parties hereto shall
survive such expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement.

 

[signature
page follows]

 

    12 

     

    

 

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

 

	 	HASH
LABS INC.  
	 	 
	 	By:	/s/
Niquana Noel
	 	Name:	Niquana Noel
	 	Title: 	Chief Executive
Officer

 

	 	EXECUTIVE
	 	 
	 	Signature:
	/s/
J. Mark Goode  	 
	 	J.
Mark Goode

 

13

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