Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT NO. 3 TO CREDIT AGREEMENT 

(INCREMENTAL ASSUMPTION AGREEMENT) 

This AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT), dated as of June 4, 2021 (this
“Agreement”), is made by and among Coty Inc., a Delaware corporation (the “Parent Borrower”), Coty B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
incorporated under the laws of the Netherlands, having its corporate seat in Amsterdam, the Netherlands and registered with the trade register of the Chamber of Commerce under number 37069236 (the “Dutch Borrower”), the other Loan
Parties party hereto, the Incremental Revolving Lenders (as defined below), and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”). 

RECITALS: 
 WHEREAS,
reference is hereby made to the Amended and Restated Credit Agreement, dated as of April 5, 2018 (as amended by that certain Amendment No. 1 to Credit Agreement, dated as of June 27, 2019, and as amended by that certain Amendment
No. 2 to the Credit Agreement, dated as of April 29, 2020, and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Parent
Borrower, the Dutch Borrower, the lenders from time to time party thereto and the Administrative Agent and Collateral Agent (capitalized terms used but not otherwise defined herein having the meanings provided in the Credit Agreement); 

WHEREAS, the Parent Borrower, by this Agreement, hereby notifies the Administrative Agent pursuant to Section 2.20
of the Credit Agreement, the receipt of which is hereby acknowledged, of its request to add a new Class of incremental revolving facilities in an aggregate principal amount of $700,000,000 immediately after giving effect to a permanent
reduction of existing and unused Revolving Commitments in an aggregate principal amount of $700,000,000 on the Incremental Effective Date (as defined below) pursuant to Section 2.08(b) of the Credit Agreement (such existing
and unused Revolving Commitments, the “Existing Revolving Commitments”); 
 WHEREAS, each Lender with an Existing Revolving
Commitment that executes and delivers a signature page to this Agreement as a “Incremental Revolving Lender” (collectively, the “Incremental Revolving Lenders”) will thereby agree to the terms of this Agreement and be
deemed to extend new Revolving Commitments to the Borrowers with a Revolving Maturity Date of April 5, 2025; 
 WHEREAS, the Parent
Borrower intends to reallocate the new Revolving Commitments contemplated by this Agreement (the “New Revolving Commitments”) after the Amendment Effective Date (as defined below) from the Incremental Revolving Lenders to other
Persons that wish to participate in the Incremental Revolving Commitments contemplated by this Agreement as Lenders (the “Additional Incremental Revolving Lenders”) in a manner to be determined by the Parent Borrower (which may be
on a non-pro rata basis) such that each Incremental Revolving Lender would not have any increased exposure under the Credit Agreement after giving effect to (i) such reallocation, (ii) the reduction
of the Existing Revolving Commitments contemplated hereby and the effectiveness of the New Revolving Commitments on the Incremental Effective Date and (iii) any prepayment of Loans with the net proceeds of the issuance of debt securities by the
Parent Borrower after the Incremental Effective Date; and 
 NOW, THEREFORE, in consideration of the premises and agreements, provisions and
covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

 SECTION 1.    New Revolving Commitments. This Agreement shall
serve to satisfy the requirements of an Incremental Facility Activation Notice with respect to the New Revolving Commitments. In accordance with the definition of “Incremental Amount” set forth in the Credit Agreement, the Parent Borrower
hereby elects that the New Revolving Commitments be incurred on the Incremental Effective Date pursuant to clause (b)(ii) of such definition. Subject to the occurrence of the Incremental Effective Date, each Incremental
Revolving Lender hereby acknowledges and agrees that: 
 (a)    Such Incremental Revolving Lender has a
New Revolving Commitment in the amount set forth next to its name on Schedule 1 attached hereto and such New Revolving Commitment shall be a Revolving Commitment for all purposes under the Credit Agreement. 

(b)    The New Revolving Commitments and the Revolving Loans in respect thereof shall constitute a new
Class, separate and distinct from the Classes of Commitments and Loans in effect immediately prior to the Incremental Effective Date; provided that there shall not be any outstanding Revolving Loans in respect of the New Revolving Commitments
immediately after giving effect to the Incremental Effective Date. 
 (c)    Subject to clause
(d) below and Section 4, the New Revolving Commitments and the Revolving Loans in respect thereof made on or after the Incremental Effective Date shall have identical terms to the existing Revolving Commitments and
Revolving Loans in effect immediately prior to the Incremental Effective Date as set forth in the Credit Agreement; provided that with respect to the New Revolving Commitments, the reference to “June 30, 2023” in Section 7.01
of the Credit Agreement shall be a reference to “June 30, 2023 and thereafter”. 
 (d)    The
definition of “Revolving Maturity Date” in Section 1.01 of the Credit Agreement shall be amended and restated in its entirety as follows: 

“Revolving Maturity Date” means the date that is five (5) years from the Restatement Effective Date or, with respect to
any Extended Revolving Commitments, the final maturity date applicable thereto as specified in the applicable Extension Request accepted by the respective Lender or Lenders; provided that the Revolving Maturity Date shall be April 5,
2025 with respect to the New Revolving Commitments established by that certain Amendment No. 3 to Credit Agreement (Incremental Assumption Agreement), dated as of June 4, 2021, among the Parent Borrower, the Dutch Borrower, the other Loan
Parties party thereto, the Lenders party thereto and the Administrative Agent. 
 (e)    On the Revolving
Maturity Date with respect to the Revolving Commitments existing immediately prior to the Incremental Effective Date, (i) the participating interests of the Revolving Lenders with such Revolving Commitments in the continuing Letters of Credit
shall be reallocated to the Revolving Lenders ratably in proportion to their New Revolving Commitments to the extent then available (without regard to whether or not the conditions in Section 4.02 of the Credit Agreement
can then be satisfied but subject to such New Revolving Commitments then being in effect) and (ii) to the extent the participating interests of the Revolving Lenders with such Revolving Commitments in the Letters of Credit are not then
reallocated pursuant to the foregoing clause (i), the Parent Borrower shall provide cash collateral in respect of the non-reallocated portion as contemplated by Section 2.05(j) of the
Credit Agreement. The actual or contingent participating interests of the Revolving Lenders in Swingline Loans and Letters of Credit shall at all times be allocated ratably to all Revolving Lenders having Revolving Commitments then in effect.

  
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 SECTION 2.    Amendment Effective Date Conditions. This Agreement
will become effective on the date (the “Amendment Effective Date”) on which each of the following conditions have been satisfied (or waived) in accordance with the terms therein: 

(a)    Executed Agreement. The Administrative Agent shall have received a counterpart of this
Agreement signed on behalf of (i) the Parent Borrower, the Dutch Borrower and each other Loan Party, (ii) the Administrative Agent, and (iii) the Incremental Revolving Lenders. 

(b)    Legal Opinion. The Administrative Agent shall have received a written opinion (addressed to
the Agents and the Incremental Revolving Lenders and dated the Amendment Effective Date) of applicable counsel for each Borrower covering such matters relating to such Borrower and the Loan Documents as of the Amendment Effective Date as are
customary for financings of this type and to the extent requested by the Administrative Agent. 

(c)    Corporate Authorization Documents. The Administrative Agent shall have received (i) a
certificate of each of the Parent Borrower and the Dutch Borrower, dated the Amendment Effective Date and executed by a secretary, assistant secretary or other Responsible Officer thereof, which shall (A) certify that (w) attached thereto
is a true and complete copy of the certificate or articles of incorporation, formation or organization (including, if applicable, any certificates of incorporation on a change of name) of such Person certified by the relevant authority of its
jurisdiction of organization or incorporation, (x) such certificate or articles of incorporation, formation or organization (including, if applicable, any certificates of incorporation on a change of name) of such Person attached thereto have
not been amended (except as attached thereto) since the date reflected thereon, (y) attached thereto is a true and correct copy of the by-laws or operating, management, partnership or similar agreement of
such Person, together with all amendments thereto as of the Amendment Effective Date and such by-laws or operating, management, partnership or similar agreement are in full force and effect and
(z) attached thereto is a true and complete copy of the resolutions or written consent, as applicable, of its board of directors, board of managers, sole member, shareholders or other applicable governing body authorizing the execution and
delivery of this Agreement, which resolutions or consent have not been modified, rescinded or amended (other than as attached thereto) and are in full force and effect, and (B) identify by name and title and bear the signatures of the officers,
managers, directors or authorized signatories (including, if applicable, any attorneys) of such Person authorized to sign this Agreement on the Amendment Effective Date and (ii) a good standing (or equivalent) certificate as of a recent date
for such Person from the relevant authority of its jurisdiction of organization (to the extent applicable). For the avoidance of doubt, the Parties agree that the documentation that is to be provided pursuant to this clause (c) shall include,
with respect to the Dutch Borrower: 
  

	 	(i)	 a copy of the deed of incorporation, the articles of association and an extract of the registration of the
Dutch Borrower in the Trade Register of the Chamber of Commerce; 

  

	 	(ii)	 a copy of the resolutions of the board of directors of the Dutch Borrower: 

 

	 	A.	 approving the terms of, and the transactions contemplated by, this Agreement and resolving that it execute this
Agreement; 

  

	 	B.	 which includes a declaration by each managing director on conflict of interest (tegenstrijdig
belang) within the meaning of Article 2:239(6) of the Dutch Civil Code; and 

  
 3 

	 	(iii)	 either an unconditional positive works council advice (advies) and the related request for advice in
respect of the transactions contemplated by this Agreement or a confirmation by the management board of the relevant Dutch Borrower that no works council (ondernemingsraad) having jurisdiction over the Dutch Borrower has been installed and no
works council will be installed in the foreseeable future. 

 (d)    Closing
Certificate. The Administrative Agent shall have received a certificate from a Responsible Officer of each of the Parent Borrower and the Dutch Borrower, certifying (i) at the time of and immediately after giving effect to the Amendment
Effective Date, the representations and warranties set forth herein and in the Loan Documents are true and correct in all material respects with the same force and effect as if such representations and warranties had been made on and as of such date
except to the extent that such representations and warranties relate specifically to another date; provided that any representation and warranty that is qualified as to materiality shall be true and correct in all respects (after giving
effect to such qualification therein), (ii) at the time of and immediately after giving effect to the Amendment Effective Date, no Default shall exist or result therefrom and (iii) that the Dutch Borrower does not have, nor is it required to
establish a works council (ondernemingsraad) within the meaning of the Dutch Works Councils Act (Wet op de ondernemingsraden) nor has it received any request from its employees to install a works council. 

(e)    No Default. At the time of and immediately after giving effect to the Amendment Effective
Date, no Default or Event of Default shall exist or result therefrom. 
 For purposes of determining compliance with the conditions
specified in this Section 2, the Incremental Revolving Lenders shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or
approved by or acceptable or satisfactory to the Incremental Revolving Lenders, unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from the Incremental Revolving
Lenders prior to the Amendment Effective Date specifying its objection thereto. 
 SECTION 3.    Incremental
Effective Date Conditions. The New Revolving Commitments will become effective on the date (the “Incremental Effective Date”) on which each of the following conditions have been satisfied (or waived) in accordance with the terms
therein: 
 (a)    Commitment Reduction. The Existing Revolving Commitments shall have been
reduced in an aggregate principal amount no less than $700,000,000 in accordance with the terms of the Credit Agreement. 

(b)    Fees and Expenses. The Administrative Agent shall have received all fees and expenses due and
payable on or prior to the Incremental Effective Date, to the extent, in the case of expenses, invoiced at least three (3) Business Days prior to the Incremental Effective Date (or such shorter period reasonably agreed by the Parent Borrower),
required to be paid on the Incremental Effective Date. 
 (c)    Closing Certificate. The
Administrative Agent shall have received a certificate from a Responsible Officer of each of the Parent Borrower and the Dutch Borrower, certifying (i) at the time of and immediately after giving effect to the Incremental Effective Date, the
representations and warranties set forth herein and in the Loan Documents are true and correct in all material respects with the same force and effect as if such representations and warranties had been made on and as of such date except to the
extent that such representations and warranties 

  
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relate specifically to another date; provided that any representation and warranty that is qualified as to materiality shall be true and correct in all respects (after giving effect to
such qualification therein), (ii) at the time of and immediately after giving effect to the Incremental Effective Date, no Default shall exist or result therefrom and (iii) that the Dutch Borrower does not have, nor is it required to establish
a works council (ondernemingsraad) within the meaning of the Dutch Works Councils Act (Wet op de ondernemingsraden) nor has it received any request from its employees to install a works council. 

(d)    No Default. At the time of and immediately after giving effect to the Incremental Effective
Date, no Default or Event of Default shall exist or result therefrom. 
 (e)    Incremental Effective
Date. The Incremental Effective Date shall have occurred on or prior to September 30, 2021. 
 For purposes of determining
compliance with the conditions specified in this Section 3, the Incremental Revolving Lenders shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required
thereunder to be consented to or approved by or acceptable or satisfactory to the Incremental Revolving Lenders, unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice
from the Incremental Revolving Lenders prior to the Incremental Effective Date specifying its objection thereto. 
 SECTION
4.    Syndication. 
 (a)    The parties hereto agree and acknowledge that, on
and after the Amendment Effective Date and prior to September 30, 2021, the Parent Borrower may reallocate the New Revolving Commitments from the Incremental Revolving Lenders to Additional Incremental Revolving Lenders to reduce the New
Revolving Commitments held by the Incremental Revolving Lenders, which reallocation shall be made in the Parent Borrower’s sole discretion and may be made on a non-pro rata basis. 

(b)    The Parent Borrower shall notify the Administrative Agent and each Incremental Revolving Lender in
writing of the updated allocation of New Revolving Commitments among the Incremental Revolving Lenders and the Additional Incremental Revolving Lenders along with an updated version of Schedule 1 hereto setting forth such updated allocation (each
such notice, an “Updated Allocation Notice”). 
 (c)    On the fifth (5th) Business Day following the delivery of any Updated Allocation Notice (or such later date as the conditions in the following proviso shall be satisfied), each applicable Incremental Revolving Lender
shall be automatically deemed to have assigned and delegated, without recourse, all its interests, rights and obligations in the New Revolving Commitments and any related Loans (as the Parent Borrower shall elect) under the Credit Agreement to an
Additional Incremental Revolving Lender that shall assume such obligations (which Additional Incremental Revolving Lender may be another Lender, if a Lender accepts such assignment) in accordance with the relevant Updated Allocation Notice unless
such assignment and delegation has already occurred in a manner reasonably satisfactory to the Parent Borrower and the Administrative Agent; provided that (i) the Parent Borrower shall have received the prior written consent of the
Administrative Agent to such assignee Additional Incremental Revolving Lender to the extent required by Section 10.04 of the Credit Agreement, which consent shall not unreasonably be withheld, conditioned or delayed, and
(ii) such assignor Lender shall have received payment of an amount equal to the outstanding principal of its Loans made pursuant to its New Revolving Commitments being assigned (and funded participations in LC Disbursements and

  
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Swingline Loans, to the extent applicable) accrued interest thereon, accrued fees and all other amounts payable to it hereunder with respect to such New Revolving Commitments from the assignee
(to the extent of such outstanding principal and accrued interest and fees) or the Borrowers (in the case of all other amounts). Each of the Parent Borrower, the Administrative Agent and the Incremental Revolving Lenders hereby agree (A) to
execute such documentation as the Parent Borrower or the Administrative Agent may reasonably request from time to time to accomplish the foregoing (including any Assignment and Assumption) and (B) upon each assignment and delegation
contemplated by this clause (c), (x) the updated allocations set forth in the updated version of Schedule 1 hereto provided by the Parent Borrower in the relevant Updated Allocation Notice shall each time amend and restate Schedule 1 hereto in its
entirety and shall be binding on each of the parties hereto and (y) each commitment of an Additional Incremental Revolving Lender in respect of the New Revolving Commitments on such Schedule 1 shall be deemed to be a New Revolving Commitment
without further action by any party. 
 (d)    Notwithstanding anything to the contrary in this Agreement
or any Loan Document, the New Revolving Commitments shall not become effective (and no Incremental Revolving Commitment shall be incurred) until the Incremental Effective Date. For the avoidance of doubt, the New Revolving Commitments may be
reallocated in accordance with this Section 4 whether or not the Incremental Effective Date has occurred. 

SECTION 5.    Representations and Warranties. By its execution of this Agreement, each Loan Party hereby represents
and warrants that: 
 (a)    Organization; Powers. Each Borrower and each of its Restricted
Subsidiaries (i) is validly existing under the laws of the jurisdiction of its organization or formation, except, in the case of a Restricted Subsidiary, where the failure to be so could not reasonably be expected to result in a Material
Adverse Effect, (ii) has all requisite power and authority to carry on its business as now conducted, except, in the case of a Restricted Subsidiary, where the failure to have such could not reasonably be expected to result in a Material
Adverse Effect and (iii) except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing (where relevant) in,
its jurisdiction of organization or formation and every other jurisdiction where such qualification is required. 

(b)    Authorization; Enforceability. Each Borrower and each Loan Party has the corporate or other
organizational power and authority to execute, deliver and carry out the terms and provisions of this Agreement and has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of this
Agreement and the Dutch Borrower does not have, nor is it required to establish a works council (ondernemingsraad) within the meaning of the Dutch Works Councils Act (Wet op de ondernemingsraden) nor has it received any request from
its employees to install a works council. This Agreement has been duly executed and delivered by the Loan Parties, and constitutes a legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium, capital impairment, recognition of judgments, recognition of choice of law, enforcement of judgments or other similar laws or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law and other matters which are set out as qualifications or reservations as to matters of law of general application in any legal opinion
delivered to the Administrative Agent in connection with this Agreement or the Loan Documents. 

  
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 (c)    Governmental Approvals; No Conflicts. The
execution, delivery and performance of this Agreement: (i) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (A) such as have been obtained or made and are in
full force and effect, (B) filings necessary to perfect Liens created under the Loan Documents and (C) for consents, approvals, registrations, filing or other actions, the failure of which to obtain or make would not reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect, (ii) will not violate (A) any applicable Law or regulation or (B) in any material respect, the charter, by-laws or other
organizational documents of such Loan Party or any order of any Governmental Authority binding on such Loan Party, (iii) will not violate or result in a default under any material indenture, agreement or other instrument binding upon the Parent
Borrower or any of its Restricted Subsidiaries or its assets, or give rise to a right thereunder to require any payment to be made by the Parent Borrower or any of its Restricted Subsidiaries, and (iv) will not result in the creation or
imposition of any material Lien on any asset of the Parent Borrower or any of its Restricted Subsidiaries, except Liens created under and Liens permitted by the Loan Documents, and except to the extent such violation or default referred to in clause
(ii)(A) or (iii) above could not reasonably be expected to result in a Material Adverse Effect. 
 SECTION
6.    Use of Proceeds. Each Borrower covenants and agrees that it will use the proceeds of the New Revolving Commitments in accordance with the terms of Section 5.12(b) of the Credit Agreement.

 SECTION 7.    Reference to and Effect on Loan Documents; Reaffirmation of the Loan Parties. 

(a)    On and after the Amendment Effective Date, each reference in the Credit Agreement and the other Loan
Documents to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as specifically amended by this Agreement. 

(b)    On and after the Incremental Effective Date, each reference to a “Revolving Commitment” or
“Revolving Loan” shall be deemed to include the New Revolving Commitments and the Revolving Loans in respect thereof, as applicable, and all other related terms will have correlative meanings mutatis mutandis (it being understood
the New Revolving Commitments and the Revolving Loans in respect thereof constitute a new Class of Commitments and Loans, as applicable, separate and distinct from the Classes of Commitments and Loans in effect immediately prior to the
Incremental Effective Date). 
 (c)    Each Loan Party hereby consents to the amendment of the Credit
Agreement effected hereby and confirms and agrees that, notwithstanding the effectiveness of this Agreement, each Loan Document to which such Loan Party is a party is, and the obligations of such Loan Party contained in the Credit Agreement, this
Agreement or in any other Loan Document to which it is a party are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects, in each case as amended by this Agreement. For greater certainty and
without limiting the foregoing, each Loan Party hereby confirms that the existing guarantees and/or security interests granted by such Loan Party in favor of the Administrative Agent for the benefit of the Secured Parties pursuant to the Loan
Documents in the Collateral described therein shall continue to secure the obligations of the Loan Parties under the Credit Agreement and the other Loan Documents as and to the extent provided in the Loan Documents. 

SECTION 8.    Amendment, Modification and Waiver. This Agreement may not be amended, modified or waived except as
permitted by Section 10.02 of the Credit Agreement. The execution, delivery and effectiveness of this Agreement shall not, except as expressly provided herein, operate as a waiver of

  
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any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor, except as expressly provided herein, constitute a waiver or amendment of any provision
of any of the Loan Documents. 
 SECTION 9.    Entire Agreement. This Agreement, the Credit Agreement, the other
Loan Documents and any separate letter agreements with respect to fees payable to the Administrative Agent, the Collateral Agent or the Lenders embody the final, entire agreement among the parties relating to the subject matter hereof and supersede
any and all previous commitments, agreements, representations and understandings, whether oral or written, relating to the subject matter hereof and may not be contradicted or varied by evidence of prior, contemporaneous or subsequent oral
agreements or discussions of the parties hereto. There are no unwritten oral agreements among the parties hereto. 
 SECTION
10.    GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 

SECTION 11.    Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a
particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION
12.    Counterparts; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. Except as provided in Section 2, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have
received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
assigns. Delivery of an executed counterpart of a signature page of this Agreement by email or other electronic means (including a “.pdf” or “.tif” file) shall be effective as delivery of a manually executed counterpart of this
Agreement. The words “execution,” “signed,” “signature,” and words of like import in this Agreement, any other Loan Document or any agreement entered into in connection therewith shall be deemed to include electronic
signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act. 
 SECTION 13.    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 13. 

  
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 SECTION 14.    Loan Document. On and after the Amendment
Effective Date, this Agreement shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents (it being understood that for the avoidance of doubt this Agreement may be amended or waived solely by
the parties hereto as set forth in Section 8 above). 
 [SIGNATURE PAGES
FOLLOW] 

  
 9 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to
execute and deliver this Agreement as of the date first set forth above. 
  

					
	COTY INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Senior Vice President, Treasury

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
					
	COTY B.V.
		
	By:	 	 /s/ Yannick Gehin

		 	Name:	 	Yannick Gehin
		 	Title:	 	Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
					
	CALVIN KLEIN COSMETIC CORPORATION
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Treasurer
	
	COTY BRANDS MANAGEMENT INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Treasurer
	
	COTY HOLDINGS INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Treasurer
	
	COTY US HOLDINGS INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Treasurer
	
	COTY US LLC
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Treasurer
	
	GALLERIA CO.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name:	 	Hemant Gandhi
		 	Title:	 	Treasurer

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	GRAHAM WEBB INTERNATIONAL, INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:Treasurer
		
		 	HFC PRESTIGE INTERNATIONAL U.S. LLC
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:Treasurer
		
		 	HFC PRESTIGE PRODUCTS, INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:Treasurer
		
		 	NOXELL CORPORATION
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:Treasurer
		
		 	O P I PRODUCTS, INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:Treasurer
		
		 	THE WELLA CORPORATION
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:Treasurer

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
					
	 JPMORGAN CHASE BANK, N.A., 
 as
Administrative Agent

		
	By:	 	 /s/ Ryan Baker

		 	Name:	 	Ryan Baker
		 	Title:	 	Vice President

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 Bank of America, N.A.,
 as
Incremental Revolving Lender

		
	By:	 	 /s/ J. Casey Cosgrove

		 	Name:  J. Casey Cosgrove
		 	Title:    Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 BNP PARIBAS,
 as Incremental
Revolving Lender

		
	By:	 	 /s/ Geraud Haissat

		 	Name:  Geraud Haissat
		 	Title:    Managing Director
		
	By:	 	 /s/ Nanette Baudon

		 	Name:  Nanette Baudon
		 	Title:    Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 Credit Agricole Corporate and Investment Bank,

as Incremental Revolving Lender

		
	By:	 	 /s/ Andrew Sidford

		 	Name:  Andrew Sidford
		 	Title:    Managing Director
		
	By:	 	 /s/ Gordon Yip

		 	Name:  Gordon Yip
		 	Title:    Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 ING Bank, a Branch of ING-DiBa AG,

as Incremental Revolving Lender

		
	By:	 	 /s/ Alexander Gutmann

		 	Name:  Alexander Gutmann
		 	Title:    Managing Director
		
	By:	 	 /s/ Wouter Jansen

		 	Name:  Wouter Jansen
		 	Title:    Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 UNICREDIT BANK AG, NEW YORK BRANCH,

as Incremental Revolving Lender

		
	By:	 	 /s/ Fabio Della Malva

		 	Name:  Fabio Della Malva
		 	Title:    Managing Director
		
	By:	 	 /s/ Laura Shelmerdine

		 	Name:  Laura Shelmerdine
		 	Title:

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 SUMITOMO MITSUI BANKING CORPORATION,

as Incremental Revolving Lender

		
	By:	 	 /s/ Eugene Nirenberg

		 	Name:  Eugene Nirenberg
		 	Title:    Executive Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
			
	 ROYAL BANK OF CANADA,
 as
Incremental Revolving Lender

		
	By:	 	 /s/ John Flores

		 	Name:  John Flores
		 	Title:    Authorized Signatory

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
					
	 Deutsche Bank AG New York Branch,

as Incremental Revolving Lender

		
	By:	 	 /s/ John Huntington

		 	Name:	 	John Huntington
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Celine Catherin

		 	Name:	 	Celine Catherin
		 	Title:	 	Managing Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
					
	Citibank, N.A.,
	as Incremental Revolving Lender
		
	By:	 	 /s/ Robert J. Kane

		 	Name:	 	Robert J. Kane
		 	Title:	 	Vice President

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 
					
	MUFG Bank, LTD.,
	as Incremental Revolving Lender
		
	By:	 	 /s/ George Stoecklein

		 	Name:	 	George Stoecklein
		 	Title:	 	Managing Director

  
 [SIGNATURE
PAGE TO AMENDMENT NO. 3 TO CREDIT AGREEMENT (INCREMENTAL ASSUMPTION AGREEMENT)] 

 Schedule 1Exhibit 10.1

 

STOCK
PURCHASE AGREEMENT

 

This
STOCK PURCHASE AGREEMENT (“Agreement”) is made as of June 4, 2021, by and among Maven Media Brands, LLC, a
Delaware limited liability company (“Buyer”), TheMaven, Inc., a Delaware corporation (“Parent”),
College Spun Media Incorporated, a New Jersey corporation (“Company”), Matthew Lombardi (“Lombardi”),
Alyson Shontell Lombardi (“Shontell-Lombardi”), Timothy Ray (“Ray,” and together with Lombardi
and Shontell-Lombardi, “Seller Shareholders”), Andrew Holleran (“Holleran,” and together with Seller
Shareholders, “Seller Parties”), and Matthew Lombardi as the “Representative”. Buyer, Company,
Seller Parties and Representative are each referred to herein as a “Party” and collectively as “Parties.”

 

recitals

 

A. Seller
Shareholders own all of the capital stock of Company (the “Stock”).

 

B. Buyer
desires to purchase from Seller Shareholders and Seller Shareholders desire to sell to Buyer the Stock.

 

C. Holleran
is entitled to receive a Sale Bonus (as defined in that certain Sale Bonus and Retention Agreement, dated as of May 12, 2021, between
Company and Holleran (the “Sale Bonus Agreement”)) in connection with the closing of the transactions contemplated
hereby.

 

D. Company,
in order to facilitate these transactions on behalf of Seller Parties and to induce Buyer to enter into this Agreement, is joining this
Agreement as a Party, and is, among other things, jointly and severally making the representations and warranties in Section 3.

 

agreement

 

Now,
therefore, in consideration of the foregoing and the mutual agreements and covenants set forth below, which are acknowledged by each
Party to be fair and adequate consideration for its obligations and commitments hereunder, the Parties hereby agree as follows:

 

1. Definitions.
Except as otherwise set forth therein, as used in the Agreement and the Exhibits, Schedules and deliveries pursuant to the Agreement,
the following definitions shall apply.

 

“Action”
means any action, complaint, petition, investigation, suit or other proceeding, whether civil or criminal, in law or in equity, or before
any arbitrator or Governmental Entity.

 

“Affiliate”
means a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control
with, a specified Party.

 

“Approvals”
means all franchises, grants, authorizations, licenses, permits, easements, consents, certificates, approvals and orders.

 

    	 

     

    

 

“Business”
means the business of Company taken as a whole, and shall be deemed to include any of the following incidents of such business: income,
cash flow, operations, condition (financial or otherwise), assets, future revenues, prospects, liabilities, personnel and management.

 

“Business
Day” means any day other than a Saturday, a Sunday or a day on which banks are required to be closed in New York, New York.

 

“COBRA”
means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Company
Disclosure Schedule” means the written disclosure schedule of even date herewith delivered on or prior to the date hereof by
Company and Seller Parties to Buyer corresponding to each representation and warranty made hereunder by Company and Seller Parties.

 

“Contract”
means any contract, agreement, indenture, note, bond, loan, instrument, lease, conditional sale contract, mortgage, license, franchise,
insurance policy, commitment or other arrangement or agreement, whether written or oral.

 

“Encumbrance”
means any option, pledge, security interest, claim, lien, charge, encumbrance, easement, covenant, lease, rights of others, restriction
(whether on voting, sale, transfer or disposition or otherwise), whether imposed by agreement, understanding, Law or otherwise, except
those arising under applicable federal or state securities Laws.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the related regulations and published interpretations.

 

“FMLA”
means the Family Medical Leave Act of 1993, as amended.

 

“GAAP”
means generally accepted accounting principles as promulgated by the Financial Accounting Standards Board, as in effect from time to
time.

 

“Governmental
Entity” means any court or tribunal in any jurisdiction or any federal, state, municipal, domestic, foreign or other administrative
agency, department, commission, board, bureau or other governmental authority or instrumentality.

 

“HIPAA”
means the Health Insurance Portability and Accountability Act of 1996, as amended.

 

“Indebtedness”
means, as to Company, (a) all obligations for borrowed money (including, without limitation, reimbursement and all other obligations
with respect to surety bonds, letters of credit and bankers’ acceptances, whether or not matured), (b) all obligations to pay the
deferred purchase price of property or services, (c) all interest rate and currency swaps, caps, collars and similar agreements or hedging
devices under which payments are obligated to be made by Company, whether periodically or upon the happening of a contingency, (d) all
indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired by Company
(even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession
or sale of such property), (e) all obligations under leases which have been or should be, in accordance with GAAP, recorded as capital
leases, (f) all indebtedness secured by any Encumbrance (other than Encumbrances in favor of lessors under leases other than leases included
in clause (e)) on any property or asset owned or held by Company regardless of whether the indebtedness secured thereby shall have been
assumed by Company or is non-recourse to the credit of Company, and (g) any direct or indirect liability with respect to any Indebtedness,
lease, dividend, guaranty, letter of credit or other obligation, contractual or other-wise (the “Primary Obligation”)
of another Person (the “Primary Obligor”), whether or not contingent, (i) to purchase, repurchase or otherwise acquire
such Primary Obligations or any property constituting direct or indirect security therefor, (ii) to advance or provide funds (x) for
the payment or discharge of any such Primary Obligation, or (y) to maintain working capital or equity capital of the Primary Obligor
or otherwise to maintain the net worth or solvency or any balance sheet item, level of income or financial condition of the Primary Obligor,
(iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such Primary Obligation of
the ability of the Primary Obligor to make payment of such Primary Obligation, or (iv) otherwise to assure or hold harmless the owner
of any such Primary Obligation against loss or failure or inability to perform in respect thereof.

 

    	 

     

    

 

“IRS”
means the Internal Revenue Service.

 

“Laws”
means any constitutional provision, statute or other law, rule, regulation, or interpretation of any Governmental Entity and any Order.

 

“Material
Adverse Effect” means any change, effect or circumstance that is materially adverse to the business, assets, condition (financial
or otherwise) or results of operations of Company, or Buyer, as the case may be, in each case taken as a whole.

 

“Order”
means any order, injunction, judgment, decree, ruling, writ, assessment or arbitration award.

 

“Permit”
means any license, permit, franchise, certificate of authority, or order, or any waiver of the foregoing, required to be issued by any
Governmental Entity.

 

“Person”
means an individual, a partnership, a corporation, an association, a limited liability company, a joint stock company, a trust, a joint
venture, an unincorporated organization, a Governmental Entity or any other entity.

 

“Taxes”
means all taxes, charges, fees, levies or other assessments, including, without limitation, income, gross receipts, excise, property,
sales, use, license, payroll and franchise taxes, imposed by any Governmental Entity and includes any estimated tax, interest and penalties
or additions to tax.

 

“Tax
Return” means any report, return or other information required to be supplied to a Governmental Entity in connection with Taxes
including, where permitted or required, combined or consolidated returns for any group of entities that includes Company. For purposes
of this Agreement a taxable period that includes the Closing Date shall be treated as two periods, the first ending on the Closing Date
and the second beginning on the first day following the Closing Date.

 

    	 

     

    

 

“Transaction
Documents” means this Agreement (and each of the exhibits and schedules attached hereto and incorporated by reference herein),
the Employment Agreements, and each of the other documents, agreements and certificates delivered in connection with this Agreement.

 

“WARN”
means the Worker Adjustment and Retraining Notification Act.

 

The
following terms shall have the meanings assigned in the indicated Section:

 

	Term	Section
	“Agreement”	Introduction
	“Balance
    Sheet Date”	3.7
	“Buyer”	Introduction
	“Buyer
    Indemnified Party”	11.2
	“Buyer
    Indemnifying Party”	11.2
	“Buyer’s
    Fundamental Representations”	10
	“Cash
    Allocable Share”	2.3
	“Claims”	11.1
	“Closing”	2.2
	“Closing
    Accounts Receivable”	2.4(a)
	“Closing
    Accounts Receivable Collection Period”	2.4(c)
	“Closing
    Date”	2.2
	“Closing
    Payment”	2.3(b)
	“Closing
    Statement”	2.4(a)
	“Company”	Introduction
	“Company
    Employee Plans”	3.12(a)
	“Company
    Intellectual Property Rights”	3.18(b)
	“Confidential
    Information”	6.5(c)
	“Dispute
    Notice”	2.4(d)
	“Disputed
    Item”	2.4(d)
	“Employment
    Agreements”	6.1
	“Environmental
    Laws”	3.17
	“Environmental
    Permits”	3.17
	“ERISA
    Affiliate”	3.12(a)
	“Estimated
    Closing Cash”	2.4(a)
	“Equity
    Allocable Share”	2.3
	“Final
    Closing Cash”	2.4(e)
	“Final
    Closing Cash Amount”	2.4(f)
	“Final
    Collected Closing Accounts Receivable”	2.4(e)
	“Final
    Collected Closing Accounts Receivable Amount”	2.4(g)
	“Financial
    Statements”	3.7
	“First
    Post-Closing Payment”	2.3(c)
	“Holleran”	Introduction
	“Indemnified
    Party”	11.2
	“Indemnifying
    Party”	11.2
	“Indemnity
    Threshold”	11.4
	“Independent
    Accountant Arbitrator”	2.4(e)
	“Intellectual
    Property”	3.18(a)
	“Interested
    Party Transaction”	3.20
	“Key
    Employees”	6.1
	“Lombardi”	Introduction
	“Losses”	11.1
	“Material
    Contracts”	3.19(a)
	“Parachute
    Payment Waiver”	6.7(a)
	“Parent”	Introduction
	“Parent
    Restricted Stock”	2.3(a)
	“Party”	Introduction
	“Post-Closing
    Payments”	2.3(d)
	“Preliminary
    Closing Cash”	2.4(c)
	“Preliminary
    Closing Statement”	2.4(c)
	“Preliminary
    Collected Closing Accounts Receivable”	2.4(c)
	“Primary
    Obligation”	1
	“Primary
    Obligor”	1
	“Purchase
    Price”	2.3
	“Ray”	Introduction
	“Real
    Property Leases”	3.15
	“Representative”	Introduction
	“Restricted
    Business”	6.5(a)
	“Restricted
    Period”	6.5(a)
	“Restricted
    Seller Party”	6.5(a)
	“Second
    Post-Closing Payment”	2.3(d)
	“Section
    1542”	6.6(b)
	“Securities
    Act”	4.4
	“Seller
    Allocable Shares”	13.4
	“Seller
    Parties”	Introduction
	“Seller
    Parties’ Fundamental Representations”	10
	“Seller
    Party Claims”	6.6(a)
	“Seller
    Party Releasors”	6.6(a)
	“Seller
    Indemnified Party”	11.1
	“Seller
    Indemnifying Parties”	11.1
	“Seller
    Shareholders”	Introduction
	“Shontell-Lombardi”	Introduction
	“Stock”	Recitals
	“Target
    Closing Accounts Receivable”	2.4(b)(ii)
	“Target
    Closing Cash”	2.4(b)(i)
	“Third
    Party Intellectual Property Rights”	3.18(b)
	“Trade
    Secrets”	3.18(d)

 

    	 

     

    

 

2. Purchase
and Sale of Shares.

 

2.1. Sale
of Stock by Seller Shareholders. Subject to the terms and conditions herein set forth, Seller Shareholders agree to sell the Stock
to Buyer at the Closing, free and clear of all Encumbrances. At the Closing, Seller Shareholders shall deliver to Buyer certificates
representing the Stock. The certificates will be properly endorsed for transfer to or accompanied by a duly executed stock power in favor
of Buyer or its nominee as Buyer may have directed prior to the Closing Date and otherwise in a form acceptable for transfer on the books
of Company. Seller Shareholders will pay any Taxes payable with respect to the transfer of the Stock.

 

2.2. Closing.
Unless otherwise agreed upon by the Parties, the closing of the transactions contemplated by this Agreement (the “Closing”)
shall take place at 10:00 AM on the later to occur of (a) the date hereof or (b) as soon as practicable (and in any event within five
(5) Business Days) following the satisfaction of the closing conditions set forth in Section 8 and Section 9 hereto (the
“Closing Date”). The closing of the transactions covered by this Agreement shall take place remotely by electronic
exchange of signature pages.

 

2.3. Purchase
Price. In full consideration for the purchase by Buyer of the Stock, the purchase price (the “Purchase Price”)
shall be calculated and paid by Buyer to Seller Parties as follows; it being agreed that (x) the cash component of the Purchase Price
shall be paid to Seller Parties in the percentages and amounts set forth on Schedule 1 attached hereto (the “Cash
Allocable Share”) and (y) the Parent Restricted Stock (as defined below) component of the Purchase Price shall be issued to
Seller Parties in the percentages and amounts set forth on Schedule 1 attached hereto (the “Equity Allocable Share”):

 

(a) Parent
Restricted Stock. 4,285,714 shares of restricted common stock, par value $0.01 of Parent (the “Parent Restricted Stock”),
issued on the Closing Date, and vesting, if earned, pursuant to Section 2.5.

 

(b) Closing
Payment. On the Closing Date, a cash payment in the amount of $10,000,000 (the “Closing Payment”).

 

(c) First
Post-Closing Payment. On the first anniversary of the Closing Date, a cash payment in the amount of $500,000 (the “First
Post-Closing Payment”).

 

(d) Second
Post-Closing Payment. On the second anniversary of the Closing Date, a cash payment in the amount of $500,000 (the “Second
Post-Closing Payment,” and together with the First Post-Closing Payment, the “Post-Closing Payments”).

 

All
payments of Purchase Price hereunder to Holleran shall be considered directed payments from Company to Holleran in full consideration
of all obligations of Company to Holleran under the Sale Bonus Agreement, and the Parties agree to treat such payments as compensation
payments by Company to Holleran for tax purposes. Further, the Parties agree to treat all payroll and bonus payments to employees through
May 31, 2021, as compensation payments by the Company for tax purposes.

 

    	 

     

    

 

2.4. Deferred
Excess Working Capital Adjustment.

 

(a) No
later than two (2) Business Days prior to the Closing Date, Company shall prepare and deliver to Buyer a written statement (the “Closing
Statement”) setting forth (i) its reasonably detailed good faith estimate of the cash of the Company as of the open of business
on the Closing Date (the “Estimated Closing Cash”) and (ii) the accounts receivable of the Company as of the open
of business on the Closing Date (the “Closing Accounts Receivable”). Upon receipt of such statement, and in connection
with Buyer’s review of such statement, Buyer and its representatives shall be given reasonable access, during normal business hours
and upon reasonable notice, to (i) all of the books and records of Company relating to such statement, including a copy of the schedules,
computations and workpapers of Company used in connection with such statement, and (ii) the finance personnel of Company.

 

(b) On
the Closing Date, the Closing Payment shall be:

 

(i) (A)
increased, if the Estimated Closing Cash exceeds $3,000,000 (the “Target Closing Cash”), by an amount equal to the
difference between the Estimated Closing Cash and the Target Closing Cash or (B) decreased, if the Estimated Closing Cash is less than
the Target Closing Cash, by an amount equal to the difference between the Target Closing Cash and the Estimated Closing Cash; and

 

(ii) (A)
increased, if the Closing Accounts Receivable exceeds $1,000,000 (the “Target Closing Accounts Receivable”), by an
amount equal to the difference between the Closing Accounts Receivable and the Target Closing Accounts Receivable or (B) decreased, if
the Closing Accounts Receivable is less than the Target Closing Accounts Receivable, by an amount equal to the difference between the
Target Closing Accounts Receivable and the Closing Accounts Receivable.

 

(c) Within
one hundred and fifty (150) days following the Closing Date, Buyer shall deliver or cause to be delivered to Representative a written
statement (the “Preliminary Closing Statement”) setting forth a reasonably detailed calculation by Buyer of (i) the
cash of the Company as of the open of business on the Closing Date (the “Preliminary Closing Cash”) and (ii) the Closing
Accounts Receivable set forth on the Closing Statement which were collected by Company in the period commencing on the Closing Date and
ending one hundred and twenty (120) days after the Closing Date (such collected Closing Accounts Receivable, the “Preliminary
Collected Closing Accounts Receivable,” and such period, the “Closing Accounts Receivable Collection Period”).

 

(d) Representative
shall have thirty (30) days following receipt of the Preliminary Closing Statement to review the calculation of Preliminary Closing Cash
and Preliminary Collected Closing Accounts Receivable and to notify Buyer in writing if Representative disputes any item or amount of
the Preliminary Closing Cash or Preliminary Collected Closing Accounts Receivable set forth on the Preliminary Closing Statement, specifying
the reasons therefor in reasonable detail together with Representative’s calculation of such item or amount (the “Dispute
Notice” and each item or amount on the Dispute Notice, a “Disputed Item”). Other than the Disputed Items,
Seller Parties shall be deemed to have accepted all items and amounts contained in the Preliminary Closing Balance Sheet and the calculation
of Preliminary Closing Cash and Preliminary Collected Closing Accounts Receivable delivered by Buyer pursuant to Section 2.4(c).

 

    	 

     

    

 

(e) In
the event that Representative shall deliver a Dispute Notice to Buyer, Buyer and Representative shall attempt to resolve any Disputed
Item as promptly as practicable and, upon such resolution, if any, any adjustments to the Preliminary Closing Balance Sheet and the Preliminary
Closing Cash and Preliminary Collected Closing Accounts Receivable shall be made in accordance with the agreement of Buyer and Representative.
If, for any reason, Buyer and Representative are unable to resolve any Disputed Item within fifteen (15) Business Days of Representative’s
delivery of such Dispute Notice, then Buyer and Representative shall within fifteen (15) Business Days after the end of such fifteen
(15)-Business Day period agree on a mutually acceptable independent accounting firm (the “Independent Accountant Arbitrator”),
or in default thereof such selection shall be made by the American Arbitration Association, which accounting firm shall be the “Independent
Accountant Arbitrator” hereunder, and such dispute shall be resolved by the Independent Accountant Arbitrator, and such determination
shall be final and binding on, and shall not be subject to appeal by, Buyer or Seller Parties. If there is a referral to the Independent
Accountant Arbitrator, each of Buyer and Representative agree, if requested by the Independent Accountant Arbitrator, to execute a reasonable
engagement letter and submit to the Independent Accountant Arbitrator, not later than ten (10) Business Days after its appointment, a
written statement summarizing such Party’s position on the Disputed Items, together with such supporting documentation as such
Party deems necessary. The Independent Accountant Arbitrator shall act as an arbitrator to determine, based solely on the materials submitted
and presentations by Buyer and Representative, and not by independent review, only the Disputed Items that have not been settled by negotiation,
and its determination with respect to each Disputed Item shall be an amount within the range established with respect to such Disputed
Item by Buyer’s calculation delivered pursuant to Section 2.4(c), on the one hand, and Representative calculation delivered
pursuant to Section 2.4(d), on the other hand. The Independent Accountant Arbitrator shall be instructed to use reasonable best
efforts to deliver to Buyer and Representative a written report setting forth the resolution of each Disputed Item within thirty (30)
days of submission of the Disputed Items to it and, in any case, as promptly as practicable after such submission. Any expenses relating
to the engagement of the Independent Accountant Arbitrator in respect of its services pursuant to this Section 2.4(e) shall be
shared equally by (i) Seller Parties, severally based on their Cash Allocable Share, on the one hand, and (ii) Buyer, on the other hand.
The “Final Closing Cash” and the “Final Collected Closing Accounts Receivable” shall be (A) if
no Dispute Notice has been timely delivered by Representative, the Preliminary Closing Cash and the Preliminary Collected Closing Accounts
Receivable, respectively, as originally submitted by Buyer, or (b) if a Dispute Notice has been timely delivered by Representative, the
Preliminary Closing Cash and the Preliminary Collected Closing Accounts Receivable, respectively, as adjusted to take into account (i)
the items and amounts accepted or deemed to have been accepted by Representative, (ii) Disputed Items settled by negotiation and (iii)
Disputed Items determined by the Independent Accountant Arbitrator.

 

(f) The
“Final Closing Cash Amount” shall equal the difference between the Final Closing Cash and the Estimated Closing Cash
(it being understood that the Final Closing Cash may be either a positive or a negative number). If the Final Closing Cash Amount is
(i) a positive number, then Buyer shall pay such amount to Seller Parties (with such amount allocated among Seller Parties based on their
Cash Allocable Share of such amount) or (ii) a negative number, then Seller Parties severally based on their Cash Allocable Share of
such amount, shall pay such amount to Buyer, with each Seller Party paying his, her or its Cash Allocable Share of such amount.

 

    	 

     

    

 

(g) The
“Final Collected Closing Accounts Receivable Amount” shall equal the difference between the Final Collected Closing
Accounts Receivable and the Closing Accounts Receivable (it being understood that the Final Collected Closing Accounts Receivable Amount
may be either a positive or a negative number). If the Final Collected Closing Accounts Receivable Amount is (i) a positive number, then
Buyer shall pay such amount to Seller Parties (with such amount allocated among Seller Parties based on their Cash Allocable Share of
such amount) or (ii) a negative number, then Seller Parties severally based on their Cash Allocable Share of such amount, shall pay such
amount to Buyer, by having such amount deducted from the Post-Closing Payments first, with each Seller Party paying his, her or its Cash
Allocable Share of such amount in excess of the adjusted Post-Closing Payments.

 

(h) Any
payments required to be made by Buyer or by Seller Parties pursuant to Section 2.4(g) (with amounts offset, if applicable, such
that the net amount is payable) shall be delivered within five (5) Business Days after the determination of the Final Closing Cash and
the Final Collected Closing Accounts Receivable pursuant to Section 2.4(e), by wire transfer of immediately available funds.

 

(i) Nothing
herein shall affect or restrict in any way the right or power of Buyer to manage and operate the Company and the Business in any manner.
Seller Parties acknowledge that Buyer is entitled to manage and operate the Company and the Business in its sole and absolute discretion;
provided, however, that, during the Closing Accounts Receivable Collection Period, Buyer shall not take any action that
is specifically intended or designed to artificially reduce or manipulate the amount of the Final Collected Closing Accounts Receivable.

 

2.5. Vesting
of Parent Restricted Stock.

 

(a) The
Parent Restricted Stock held by the Seller Parties shall vest as follows (“Parent Restricted Stock Vesting”):

 

(i) On
the first anniversary of the Closing Date (the “First Vesting Date”), 2,142,857 shares of Parent Restricted Stock
held by the Seller Parties shall automatically vest; and

 

(ii) On
the second anniversary of the Closing Date (the “Second Vesting Date,” and together with the First Vesting Date each
a “Vesting Date”), the remaining 2,142,857 shares of Parent Restricted Stock held by the Seller Parties shall automatically
vest.

 

(b) Notwithstanding
anything to the contrary set forth in this Section 2.5, the Parent Restricted Stock Vesting shall be subject to the continued
employment in good standing of the individuals set forth on Schedule 2.5(b) (the “Key Persons”) on the
applicable Vesting Date. Subject to the foregoing, Parent Restricted Stock Vesting shall be reduced by the percentage listed against
the applicable Key Person’s name on Schedule 2.5(b) for each Key Person who, as of the applicable Vesting Date, is
no longer employed by Buyer, other than due to (i) such Key Person’s resignation with Good Reason (defined below), (ii) such Key
Person’s resignation due to the Permanent Incapacity (defined below) of an immediate family member of such Key Person, (iii) the
termination of such Key Person’s employment by Buyer in the event of the Permanent Incapacity of such Key Person, or (iv) the termination
of such Key Person’s employment by Buyer without Cause (defined below).

 

    	 

     

    

 

(c) For
purposes of this Section 2.5, “Cause,” “Good Reason” and “Permanent Incapacity”
shall have the meanings set forth in the applicable Key Person’s Employment Agreement.

 

(d) Nothing
herein shall affect or restrict in any way the right or power of Buyer to manage and operate the Company and the Business in any manner.
Seller Parties acknowledge that (i) Buyer is entitled to manage and operate the Company and the Business in its sole and absolute discretion,
and (ii) there is no guarantee that the Parent Restricted Stock held by the Seller Parties will vest, depending on the conditions set
forth in this Section 2.5.

 

3. Representations
and Warranties of Seller Parties and Company. As a material inducement to Buyer to enter into this Agreement, Seller Parties and
Company jointly and severally make the representations and warranties set forth below to Buyer, all of which are true and correct as
of the date hereof and the Closing, except as set forth in the correspondingly numbered Sections of the Disclosure Schedules.

 

3.1. Incorporation
and Qualification; No Subsidiaries. Company is a corporation, duly incorporated, validly existing and in good standing under the
Laws of the State of New Jersey, and Company has the requisite corporate power and authority and is in possession of Approvals necessary
to own, lease and operate the properties its purports to own, lease or operate and to carry on the Business as it is now being conducted.
Company is duly qualified or licensed as a foreign corporation to do business, and is in good standing in each jurisdiction where the
character of its properties owned, leased or operated by it or the nature of its activities makes such qualification or licensing necessary.
Company does not have, and has never had, any subsidiaries.

 

3.2. Certificate
of Incorporation and Bylaws; Minute Books. Company has furnished to Buyer a true, complete and correct copy of its Certificate of
Incorporation and bylaws, each as amended to date. Such Certificate of Incorporation and bylaws are in full force and effect. Company
is not in violation of any of the provisions of its Certificate of Incorporation or bylaws. The minute books of Company have been provided
to Buyer or its advisors and contain a complete and accurate summary of all meetings of directors and shareholders or actions by written
consent since the time of incorporation of Company through the date of this Agreement.

 

3.3. Capitalization
and Shares.

 

(a) Capitalization.
The authorized capital stock of Company consists of 1,000,000 shares of common stock, no par value, of which there were issued and outstanding
as of the date of this Agreement, 57,310 shares. All outstanding shares of Company’s common stock (i) are duly authorized, validly
issued, fully paid and non-assessable, (ii) are free of any Encumbrances, and (iii) were not issued in violation of any preemptive rights
or rights of first refusal created by statute, the Certificate of Incorporation or bylaws of Company or any agreement to which Company
is a party or by which it is bound. Except for the rights created pursuant to this Agreement, there are no options, warrants, calls,
rights, commitments or agreements that are outstanding to which Company is a party or by which it is bound, obligating Company to issue,
deliver, sell, repurchase or redeem, or cause to be issued, delivered, sold, repurchased or redeemed, any shares of Company’s capital
stock or obligating Company to grant, extend, accelerate the vesting of, change the price of, or otherwise amend or enter into any option,
warrant, call, right, commitment or agreement regarding shares of Company’s capital stock. Except as set forth on Schedule
3.3(a), there are no other Contracts relating to the voting, purchase or sale of Company’s capital stock (A) between or
among Company and any of its shareholders; and (B) between or among any of Company’s shareholders. All issued and outstanding shares
of Company’s capital stock were issued in compliance with all applicable federal and state securities Laws.

 

    	 

     

    

 

(b) Shares.
Schedule 3.3(b) sets forth, as of the date hereof, the number of shares of Company’s capital stock that each current
shareholder of Company holds of record.

 

3.4. Authority
Relative to this Agreement. Company has all necessary corporate power and authority to execute and deliver this Agreement and to
perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement
by Company and the consummation by Company of the transactions contemplated hereby have been duly and validly authorized by all necessary
corporate action on the part of Company, and no other corporate proceedings on the part of Company are necessary to authorize this Agreement
or to consummate the transactions contemplated hereby. The Board of Directors of Company has unanimously approved this Agreement and
the transactions contemplated hereby and declared their advisability. This Agreement has been duly and validly executed and delivered
by Company and, assuming the due authorization, execution and delivery by Buyer, constitutes a legal, valid and binding obligation of
Company enforceable against Company in accordance with its terms.

 

3.5. No
Conflict; Filings and Consents. Except as set forth in Schedule 3.5, the execution and delivery of this Agreement by
Company does not, and the performance of this Agreement by Company will not, (i) conflict with or violate the Certificate of Incorporation
or bylaws of Company, (ii) conflict with or violate any Law or Order applicable to Company or by which its properties is bound or affected,
or (iii) result in any breach of or constitute a default (or an event that with notice or lapse of time or both would become a default)
under, or result in a modification of any right or benefit under, or impair Company’s rights or alter the rights or obligations
of any third party under, or give to others any rights of termination, amendment, acceleration, repayment or repurchase, or result in
increased payments or cancellation under, or result in the creation of an Encumbrance on any of the properties or assets of Company pursuant
to, any Contract to which Company is a party or by which Company or its properties is bound or affected. The execution and delivery of
this Agreement by Company does not, and the performance of this Agreement by Company will not require any consent, approval, exemption,
authorization or permit of, or filing with or notification to, any Governmental Entity or any other Person.

 

    	 

     

    

 

3.6. Compliance,
Permits.

 

(a) Compliance.
Except as set forth in Schedule 3.6(a), Company is not in conflict with, or in default or violation of any Law or Order
applicable to Company or by which its properties is bound or affected.

 

(b) Permits.
Company holds all Permits from Governmental Entities that are necessary to the operation of the Business as it is now being conducted.
Company is in compliance with the terms of such Permits.

 

3.7. Financial
Statements. Schedule 3.7 contains the unaudited balance sheet and statement of operations for the period ended April
30, 2021 (the “Balance Sheet Date”), and the financial statements for Company’s 2019 and 2020 fiscal years (collectively,
the “Financial Statements”). The Financial Statements have been compiled under the “Cash” basis of accounting
as applied on a consistent basis throughout the periods involved, and fairly present the financial position of Company as at the respective
dates thereof and the results of its operations and cash flows for the periods indicated.

 

3.8. Absence
of Certain Changes. Except as set forth in Schedule 3.8, since January 1, 2021, Company has conducted the Business
in the ordinary course and there has not occurred any of the following: (i) any Material Adverse Effect; (ii) any amendments or changes
in the Certificate of Incorporation or bylaws of Company; (iii) any damage to, destruction or loss of any material asset of Company (whether
or not covered by insurance); (iv) any material change by Company in its accounting methods, principles or practices; (v) any material
revaluation by Company of any of its assets, including, without limitation, writing down the value of inventory or writing off notes
or accounts receivable other than in the ordinary course of business; (vi) any sale of a material amount of property of Company, except
in the ordinary course of business; (vii) any declaration, setting aside or payment of any dividend or distribution in respect of shares
of common stock of Company or any redemption, purchase or other acquisition of any of Company’s securities (except as contemplated
by this Agreement); (viii) any increase in the compensation or benefits or establishment of any bonus, insurance, severance, deferred
compensation, pension, retirement, profit sharing, stock option (including, the granting of stock options, stock appreciation rights,
performance awards or restricted stock awards), stock purchase or other employee benefit plan, or any other increase in the compensation
payable or to become payable to any executive officers of Company, in each case except in the ordinary course of business consistent
with past practice; (ix) any creation or assumption by Company of any Encumbrance on any material asset of Company; (x) any making of
any loan, advance or capital contribution to or investment in any Person by Company, other than advances to employees to cover travel
and other ordinary business-related expenses in the ordinary course of business consistent with past practice; (xi) any incurrence or
assumption by Company of any indebtedness for borrowed money or any guarantee, endorsement or other incurrence or assumption of a material
liability (whether directly, contingently or otherwise) by Company for the obligations of any other Person; or (xii) any material modification,
amendment, assignment or termination of or relinquishment by Company of any rights under any Material Contract (as defined below).

 

3.9. No
Undisclosed Liabilities. Except as set forth in Schedule 3.9, Company does not have any liabilities (absolute, accrued,
known contingent or otherwise) except liabilities (i) in the aggregate adequately provided for in Company’s unaudited balance sheet
as of the Balance Sheet Date and (ii) incurred since the Balance Sheet Date in the ordinary course of business consistent with past practice
or in connection with the transactions contemplated by this Agreement.

 

    	 

     

    

 

3.10. Indebtedness.
Company has no Indebtedness.

 

3.11. Litigation.
Except as set forth in Schedule 3.11, there are no Actions or, to the knowledge of Company, there are no Actions threatened
against Company, or any properties or rights of Company, before any Governmental Entity or body, nor are there, to the knowledge of Company,
any investigations or reviews by any Governmental Entity pending or threatened against, relating to or affecting, Company. Company is
not subject to any outstanding Order.

 

3.12. Employee
Benefit Plans; Employment Agreements.

 

(a) Schedule
3.12(a) contains an accurate and complete list, with respect to Company and any Person under common control with Company within
the meaning of Section 414(b), (c), (m) or (o) of the Code, and the regulations issued thereunder (collectively an “ERISA Affiliate”)
of each plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination
pay, deferred compensation, performance awards, stock or stock-related awards, welfare benefits, fringe benefits or other employee benefits
or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each “employee benefit plan,”
within the meaning of Section 3(3) of ERISA, which is or has been maintained, contributed to, or required to be contributed to, by Company
or any ERISA Affiliate for the benefit of any employee (collectively, the “Company Employee Plans”). Schedule
3.12(a) sets forth a table setting forth the name and salary of each employee of Company as of the date hereof. To the knowledge
of Company, no employee listed on Schedule 3.12(a) intends to terminate his or her employment for any reason. Schedule
3.12(a) contains an accurate and complete list of all Persons that have a consulting or advisory relationship with Company.

 

(b) Documents.
Company has provided to Buyer: (i) correct and complete copies of all documents embodying each Company Employee Plan including all amendments
thereto and all related trust documents, (ii) the three most recent annual reports (Form Series 5500 and all schedules and financial
statements attached thereto), if any, required under ERISA or the Code in connection with each Company Employee Plan, (iii) if Company
Employee Plan is funded, the most recent annual and periodic accounting of Company Employee Plan assets, (iv) the most recent summary
plan description together with the summary(ies) of material modifications thereto, if any, required under ERISA with respect to each
Company Employee Plan, (v) all material written Contracts relating to each Company Employee Plan, including administrative service agreements
and group insurance contracts, (vi) each affirmative action plan, if applicable, (vii) all communications material to any employee or
employees relating to any Company Employee Plan and any proposed Company Employee Plan, in each case, relating to any amendments, terminations,
establishments, increases or decreases in benefits, acceleration of payments or vesting schedules or other events which would result
in any liability to Company, (viii) all correspondence to or from any Governmental Entity relating to any Company Employee Plan, (ix)
model COBRA forms and related notices, (x) all policies pertaining to fiduciary liability insurance covering the fiduciaries for each
Company Employee Plan, (xi) all discrimination tests for each Company Employee Plan for the three most recent plan years, (xii) all registration
statements, annual reports (Form 11-K and all attachments thereto) and prospectuses prepared in connection with each Company Employee
Plan, (xiii) all HIPAA privacy notices and all business associate agreements to the extent required under HIPAA and (xiv) the most recent
IRS determination or opinion letter issued with respect to each Company Employee Plan.

 

    	 

     

    

 

(c) Company
Employee Plan Compliance. Company has performed all obligations required to be performed by it under, is not in default or violation
of, and Company has no knowledge of any default or violation by any other party to, any Company Employee Plan, and each Company Employee
Plan has been established and maintained in accordance with its terms and in compliance with all applicable Laws, statutes, orders, rules
and regulations, including ERISA or the Code. Each Company Employee Plan intended to be qualified under Section 401(a) of the Code and
each trust intended to qualify under Section 501(a) of the Code has either (i) applied for, prior to the expiration of the requisite
remedial amendment period under applicable Treasury Regulations or IRS pronouncements, but has not yet received a response; (ii) obtained
a favorable determination, notification, advisory and/or opinion letter, as applicable, on which the employer is entitled to rely, as
to its qualified status from the IRS since January 1, 2000; or (iii) still has a remaining period of time to apply for such a determination
letter from the IRS and to make any amendments necessary to obtain a favorable determination and nothing has occurred since the date
of the most recent determination that could reasonably be expected to cause any such Company Employee Plan or trust to fail to qualify
under Section 401(a) or 501(a) of the Code. No “prohibited transaction,” within the meaning of Section 4975 of the Code or
Sections 406 and 407 of ERISA, and not otherwise exempt under Section 408 of ERISA, has occurred with respect to any Company Employee
Plan. There are no actions, suits or claims pending or, to the knowledge of Company, threatened or reasonably anticipated (other than
routine claims for benefits) against any Company Employee Plan or against the assets of any Company Employee Plan. Each Company Employee
Plan can be amended, terminated or otherwise discontinued after the Closing Date in accordance with its terms, without liability to Buyer,
Company or any ERISA Affiliate (other than ordinary administration expenses). There are no audits, inquiries or proceedings pending or
to the knowledge of Company or any ERISA Affiliates, threatened by the IRS, Department of Labor, or any other Governmental Entity with
respect to any Company Employee Plan. Neither Company nor any ERISA Affiliate is subject to any penalty or Taxes with respect to any
Company Employee Plan under Section 502(i) of ERISA or Sections 4975 through 4980 of the Code. Company has timely made all contributions
and other payments required by and due under the terms of each Company Employee Plan.

 

(d) No
Pension Plan. Neither Company nor any ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed
to, any Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA subject
to Part 3 of Subtitle B of Title I of ERISA, Title IV of ERISA or Section 412 of the Code.

 

(e) No
Self-Insured Company Employee Plan. Neither Company nor any ERISA Affiliate has ever maintained, established, sponsored, participated
in or contributed to any self-insured plan that provides benefits to employees.

 

    	 

     

    

 

(f) Collectively
Bargained, Multiemployer and Multiple-Employer Plan. At no time has Company or any ERISA Affiliate contributed to or been obligated
to contribute to any multiemployer plan (as defined in Section 3(37) of ERISA). Neither Company nor any ERISA Affiliate has at any time
ever maintained, established, sponsored, participated in or contributed to any multiple employer plan or to any plan described in Section
413 of the Code.

 

(g) No
Post-Employment Obligations. No Company Employee Plan provides, or reflects or represents any liability to provide, post-termination
or retiree life insurance, health or other employee welfare benefits to any Person for any reason, except as may be required by COBRA
or other applicable statute, and Company has never represented, promised or contracted (whether in oral or written form) to any employee
(either individually or to employees as a group) or any other Person that such employee(s) or other Person would be provided with life
insurance, health or other employee welfare benefits, except to the extent required by statute.

 

(h) COBRA;
FMLA; CFRA; HIPAA. Company and each ERISA Affiliate has, prior to the Closing Date, complied with COBRA, FMLA, CFRA, HIPAA, the Women’s
Health and Cancer Rights Act of 1998, the Newborns’ and Mothers’ Health Protection Act of 1996, and any similar provisions
of state Law applicable to its employees. To the extent required under HIPAA and the regulations issued thereunder, Company has, prior
to the Closing Date, performed all obligations under the medical privacy rules of HIPAA, the electronic data interchange requirements
of HIPAA, and the security requirements of HIPAA. Company does not have unsatisfied obligations to any employees or qualified beneficiaries
pursuant to COBRA, HIPAA or any state Law governing health care coverage or extension.

 

(i) Effect
of Transaction. Except as set forth on Schedule 3.12(i), neither the execution and delivery of this Agreement nor the
consummation of the transactions contemplated hereby or any termination of employment or service in connection therewith will (i) result
in any payment (including severance, golden parachute, bonus or otherwise) becoming due to any employee, (ii) result in any forgiveness
of indebtedness, (iii) materially increase any benefits otherwise payable by Company or (iv) result in the acceleration of the time of
payment or vesting of any such benefits except as required under Section 411(d)(3) of the Code.

 

(j) Deferred
Compensation. Each Company Employee Plan that is a “nonqualified deferred compensation plan,” within the meaning of Section
409A of the Code, has been operated and administered since the latter of inception or January 1, 2005 in good faith compliance with Section
409A of the Code, to the extent Section 409A of the Code is applicable to such plan. No such plan has been “materially modified,”
within the meaning of IRS Notice 2005-1, at any time after October 3, 2004.

 

(k) Parachute
Payments. There is no Contract covering any employee that, considered individually or considered collectively with any other such
Contracts, will, or could reasonably be expected to, give rise directly or indirectly to the payment of any amount that would be characterized
as a “parachute payment” within the meaning of Section 280G(b)(1) of the Code. There is no Contract by which Company is bound
to compensate any employee for excise taxes paid pursuant to Section 4999 of the Code.

 

    	 

     

    

 

(l) No
Interference or Conflict. To the knowledge of Company, no shareholder, director, officer, employee or consultant of Company is obligated
under any Contract, subject to any Order of any Governmental Entity that would interfere with such Person’s efforts to promote
the interests of Company or that would interfere with the Business. Neither the execution nor delivery of this Agreement, nor the carrying
on of the Business as presently conducted or proposed to be conducted nor any activity of such officers, directors, employees or consultants
in connection with the carrying on of the Business as presently conducted or currently proposed to be conducted will, to the knowledge
of Company, conflict with or result in a breach of the terms, conditions, or provisions of, or constitute a default under, any Contract
under which any of such officers, directors, employees, or consultants is bound.

 

(m) International
Employee Plan. Neither Company nor any ERISA Affiliate currently or has it ever had the obligation to maintain, establish, sponsor,
participate in, be bound by or contribute to any each Company Employee Plan that has been adopted or maintained by Company or any ERISA
Affiliate, whether formally or informally or with respect to which Company or any ERISA Affiliate will or may have any liability with
respect to employees who perform services outside the United States.

 

3.13. Employment
and Labor Matters.

 

(a) Company
is in compliance with all applicable Laws respecting employment, employment practices, terms and conditions of employment, employee safety
and health and wages and hours, and in each case, with respect to employees: (i) has withheld and reported all amounts required by Law
or by agreement to be withheld and reported with respect to wages, salaries and other payments to employees, (ii) is not liable for any
arrears of wages, severance pay or any Taxes or any penalty for failure to comply with any of the foregoing, and (iii) is not liable
for any payment to any trust or other fund governed by or maintained by or on behalf of any Governmental Entity, with respect to unemployment
compensation benefits, social security or other benefits or obligations for employees (other than routine payments to be made in the
normal course of business and consistent with past practice). There are no Actions pending, threatened or reasonably anticipated against
Company or any of its employees relating to any employee or Company Employee Plan. There are no pending or threatened or reasonably anticipated
claims or actions against Company or any Company trustee under any worker’s compensation policy. The services provided by each
of Company’s and its ERISA Affiliates’ employees is terminable at the will of Company and its ERISA Affiliates and any such
termination would result in no liability to Company or any ERISA Affiliate. Schedule 3.13(a) lists all liabilities of Company
to any employee, that result from the termination by Buyer or Company of such employee’s employment or provision of services, a
change of control of Company, or a combination thereof. Neither Company nor any ERISA Affiliate has direct or indirect liability with
respect to any misclassification of any Person as an independent contractor rather than as an employee, or with respect to any employee
leased from another employer.

 

(b) No
work stoppage or labor strike against Company is pending, or to the knowledge of Company, threatened, or reasonably anticipated. Company
has no knowledge of any activities or proceedings of any labor union to organize any employees. There are no Actions pending or threatened
or reasonably anticipated relating to any labor matters involving any employee, including charges of unfair labor practices. Company
has not engaged in any unfair labor practices within the meaning of the National Labor Relations Act. Company does not presently, nor
has it been in the past, a party to, or bound by, any collective bargaining agreement or union contract with respect to employees and
no collective bargaining agreement is being negotiated by Company. Within the past year, Company has not incurred any liability or obligation
under WARN or any similar state or local Law that remains unsatisfied, nor shall any terminations prior to the Closing Date result in
unsatisfied liability or obligation under WARN or any similar state or local Law.

 

    	 

     

    

 

3.14. Restrictions
on Business Activities.

 

(a) Except
for this Agreement, there is no material Contract, Action or Order binding upon Company which has or could reasonably be expected to
have the effect of prohibiting or impairing any material business practice of Company or any acquisition of property by Company.

 

(b) To
Company’s knowledge, none of Company’s officers, directors or employees is a party to any agreement which, by virtue of such
Person’s relationship with Company, restricts in any material respect Company from continuing its business activities as presently
conducted.

 

3.15. Title
to Property. Company has good record, marketable and defensible title to all of its owned properties and assets, free and clear of
all Encumbrances. Schedule 3.15 is a true, complete and correct schedule of all leases of real property as of the date
of this Agreement (“Real Property Leases”) pursuant to which Company leases from others which schedule sets forth
(i) the date of each lease and the premises covered thereby, (ii) the term thereof, and (iii) the rent payable thereunder. Company does
not own any real property. The Real Property Leases and all leases of personal property by Company from others are in good standing,
valid and effective in accordance with their respective terms and to Company’s knowledge there is not, under any of such leases,
any existing default or event of default (or event which with notice or lapse of time, or both, would constitute a default).

 

3.16. Taxes.
Except as set forth in Schedule 3.16:

 

(a) Company
has timely filed in accordance with applicable Law all Tax Returns required to be filed by or with respect to it, its operations and
assets, and all Taxes shown as due on such Tax Returns have been paid. All Tax Returns filed by Company with respect to Taxes were true,
complete, and correct in all material respects as of the date on which they were filed or as subsequently amended to the date of this
Agreement. Complete copies of federal, state, local, and foreign Tax Returns of Company for the year ended December 31, 2020 have heretofore
been delivered or made available to Buyer. Prior to the date of this Agreement, Company has provided to Buyer all revenue agents’
reports and other written assertions of deficiencies or other liabilities for Taxes of Company with respect to past periods for which
the applicable statute of limitations has not expired.

 

(b) Company
has timely paid all Taxes for which a notice of, or assessment or demand for, payment has been received, or which are otherwise due and
payable with respect to Company, its operations and assets (in each case, whether or not shown on any Tax Return), except for Taxes that
are being contested in good faith by appropriate proceedings, all of which are disclosed in Schedule 3.16(b) and for payment
of which Taxes adequate reserves have been established.

 

    	 

     

    

 

(c) Company
has complied with all applicable Law, rules and regulations relating to the withholding of Taxes and has timely collected or withheld
and paid over, and up to the Closing Date will have timely collected and withheld and paid over to the proper governmental authorities
all amounts required to be so collected or withheld and paid over for all periods up to the Closing Date under all applicable Laws.

 

(d) There
are no outstanding agreements, waivers or arrangements extending the statutory period of limitations for the assessment or collection
of Taxes with respect to any Tax Return that relates to Company, which waivers or extensions currently are in effect, and no request
for any such waiver or extension is currently pending.

 

(e) There
are no Tax rulings of which Company is a subject, requests for rulings by Company, or closing agreements entered into by Company that
could affect its liability for Taxes for any period after the Closing Date.

 

(f) No
action, suit, proceeding, investigation, audit, claim or assessment is presently pending or, to the knowledge of Company, proposed with
regard to any Taxes that relate to Company for which Company would or could be liable. There are no requests from any taxing authority
for information or with respect to Taxes of Company. Company has no knowledge of any fact or condition that, if known to any taxing authority
having jurisdiction, would likely result in the issuance of a notice of proposed deficiency or similar notice of intention to assess
Taxes against Company, and no issue has arisen in any examination of Company by any taxing authority that if raised and upheld with respect
to any other period not so examined would result in a material deficiency for any other period not so examined.

 

(g) Company
(i) has not agreed to nor is required to make any adjustment pursuant to Section 481 of the Code (or any predecessor or similar provision
of other Laws or regulations) by reason of a change in accounting method or otherwise; (ii) has no knowledge that any taxing authority
has proposed any such adjustment or change, which proposal is currently pending; and (iii) does not have an application pending with
any taxing authority requesting permission for any change in accounting methods that relates to the Business.

 

(h) Neither
Company nor any of its shareholders is a “foreign person” within the meaning of Code Section 1445(f)(3) and Treasury Regulation
Section 1.1445-2(b)(2)(i) (or any corresponding provision of state, local, or foreign Tax Law).

 

(i) Company
(i) is not a party to, is not bound by, nor has any obligation under, any Tax sharing agreement or similar Contract; (ii) has no current
or potential contractual obligation to indemnify any other Person with respect to Taxes;, and (iii) has no obligation to make distributions
in respect of Taxes.

 

(j) Schedule
3.16(j) contains a list of states, territories and jurisdictions (whether foreign or domestic) in which Company is required to
file Tax Returns. No claim has ever been made in writing against Company by a taxing authority in a jurisdiction where Company does not
file Tax Returns that Company is or may be subject to taxation by such jurisdiction.

 

    	 

     

    

 

(k) No
Taxes are delinquent or constitute a lien against Company, except for the current year’s ad valorem Taxes not yet due and payable,
and except with respect to Taxes being contested in good faith by appropriate proceedings (all of which are disclosed in Schedule
3.16(k)) and for payment of which Taxes adequate reserves have been established.

 

(l) Company
has not disposed of any property in a transaction being accounted for under the installment method pursuant to Section 453 of the Code.

 

(m) Schedule
3.16(m) contains a list of all powers of attorney granted by Company with respect to any matter relating to Taxes of Company,
which power of attorney is currently in force. Each such power of attorney will be revoked prior to the Closing Date.

 

(n) Company
has not filed any consent under Section 341(f) of the Code.

 

(o) Any
adjustment of Taxes of Company made by the IRS, which adjustment is required to be reported to the appropriate state, local, or foreign
taxing authorities, has been so reported.

 

(p) All
Tax Returns with respect to Taxes of Company filed or given after the date hereof shall be prepared, and all elections with respect to
such Tax Returns shall be made, to the extent permitted by Law, in a manner consistent with prior practice of Company.

 

(q) During
all taxable periods for which the applicable statute of limitations has not yet expired, (i) Company was not a member of an affiliated
group within the meaning of Treasury Regulation Section 1.1502-1, and (ii) Company’s relevant taxable income was not included in
a consolidated, combined, or unitary federal, state, local, or foreign Tax Return.

 

(r) Company
has not taken any reporting position on a Tax Return, which reporting position (i) if not sustained would be reasonably likely, absent
disclosure, to give rise to a penalty for substantial understatement of federal income Tax under and within the meaning of Section 6662
of the Code (or any predecessor statute or any corresponding provision of any such predecessor statute, or state, local, or foreign Tax
Law), and (ii) has not adequately been disclosed on such Tax Return in accordance with Section 6662(d)(2)(B) of the Code (or corresponding
provision of any such predecessor statute, or state, local, or foreign Tax Law).

 

(s) There
is no Contract or plan covering any Person that, individually or collectively, could give rise to the payment of any amount that would
not be deductible by Buyer or Company by reason of Section 280G of the Code. The Company is a “small business corporation”
as defined in Section 1361(b) of the Code.

 

3.17. Environmental
Matters. Company (i) has obtained all applicable permits, licenses and other authorizations (collectively, the “Environmental
Permits”), which are required to be obtained under all applicable Laws and Orders relating to pollution or protection of the
environment (“Environmental Laws”) by Company, which Environmental Permits are in full force and effect, (ii) is in
compliance with all terms and conditions of such Environmental Permits, (iii) is in material compliance with all applicable Environmental
Laws, and (iv) is not aware of nor have received notice of any past or present violations of Environmental Laws or Environmental Permits.

 

    	 

     

    

 

3.18. Intellectual
Property.

 

(a) Schedule
3.18(a) sets forth a true and complete list of all Intellectual Property owned or used by Company. Company owns free and clear
of all Encumbrances, or is licensed or otherwise possesses legally enforceable right to use all patents, trademarks, trade names, service
marks, domain names and any applications therefor, and computer software programs or applications (the “Intellectual Property”)
that are used in the Business as currently conducted, and such rights constitute all the rights necessary for Company to conduct the
Business as currently conducted.

 

(b) Company
is not, nor will it be, as a result of the execution and delivery of this Agreement or the performance of its obligations hereunder,
in violation of any licenses, sublicenses and other agreements as to which Company is a party and pursuant to which Company is authorized
to use any third party Intellectual Property (“Third Party Intellectual Property Rights”). Immediately after the Closing
Date, Company will continue to own all right, title and interest in, and to have a license to use all Intellectual Property material
to the Business on terms and conditions identical in all respects to those enjoyed by Company immediately prior to such transactions.
No claims with respect to the Intellectual Property owned by Company (the “Company Intellectual Property Rights”),
any trade secret material to Company, or Third Party Intellectual Property Rights to the extent arising out of any use, sale of, reproduction
or distribution of such Third Party Intellectual Property Rights by or through Company, are currently pending or, to the knowledge of
Company, are threatened by any Person. Company does not know of any valid grounds for any bona fide claims (i) to the effect that the
manufacture, sale, licensing or use of any Intellectual Property as now used, sold or licensed by Company, infringes on the Intellectual
Property Rights of any third party; (ii) against the use by Company of any Intellectual Property used in the Business as currently conducted;
(iii) challenging the ownership, validity or effectiveness of any of Company Intellectual Property Rights or other trade secret material
to Company; or (iv) challenging the license or legally enforceable right to use of the Third Party Intellectual Property Rights by Company.

 

(c) To
the knowledge of Company, all patents issued to Company are valid. To the knowledge of Company, there is no material unauthorized use,
infringement or misappropriation of any of the patents issued to Company by any third party, including any employee or former employee
of Company.

 

(d) Company
has made available to Buyer copies of all Contracts executed by Company employees with regard to (i) assignment of right, title and interest
in such employee’s work product to Company, including any underlying Intellectual Property Rights, (ii) cooperation whether during
or after employment with Company in perfecting Company’s rights in such assigned Intellectual Property Rights, including the execution
of any applications, assignment forms and the like, and (iii) prohibition on disclosure of Company proprietary information, including,
without limitation, Company know-how, business plans, techniques, methods, customer lists and supplier lists (collectively, “Trade
Secrets”) during their employment and thereafter.

 

    	 

     

    

 

(e) Schedule
3.18(e) sets forth the names of all Company contractors that created any Company proprietary information, technology or software.
Company has made available to Buyer copies of all Contracts executed by Company contractors with regard to (i) assignment of right, title
and interest in such contractor’s work product to Company, including any underlying Intellectual Property Rights, and (ii) prohibition
on disclosure of any Company proprietary information, including, without limitation, Company Trade Secrets during their engagement and
thereafter.

 

3.19. Material
Contracts.

 

(a) Schedule
3.19(a) includes a list of all Contracts, whether or not in writing, to which Company is a party or by which it is bound as of
the date hereof, (i) under which the consequences of a default, nonrenewal or termination could have a Material Adverse Effect, (ii)
pursuant to which payments are required or acceleration of benefits is required upon a “change of control” of Company, (iii)
which require the consent or waiver of a third party prior to Company consummating the transactions contemplated by this Agreement, (iv)
whose terms prohibit or would materially delay the consummation of this Agreement and the transactions contemplated by this Agreement,
(v) which, as of the date of this Agreement, constitute Contracts between Company and any other Person, and involve consideration in
excess of $25,000 over the term of the Contract or have a term that will expire more than one year from the date of this Agreement, or
(vi) which are not terminable without individual payments by Company, Buyer or any of their subsidiaries or affiliates in excess of $25,000
(the Contracts referred to in clauses (i) through (vi) above are referred to collectively herein as the “Material Contracts”).

 

(b) Each
Material Contract constitutes a legal, valid and binding obligation of Company and each other party thereto, enforceable against Company
and such other parties in accordance with its terms. Except as set forth in Schedule 3.19(b), neither Company, nor, to
Company’s knowledge, any other party thereto, is in conflict with, or in default or violation of any Material Contracts.

 

3.20. Interested
Party Transactions. Except as set forth in Schedule 3.20, there has been no transaction between Company, on the one
hand, and any Affiliate of Company, any officer, director or employee of Company, or any spouse, parent, child, grandchild or sibling
of any officer, director or employee of Company, on the other hand, other than transactions related to employment (each an “Interested
Party Transaction”).

 

3.21. Insurance.
All material fire and casualty, general liability, business interruption, product liability, professional liability and sprinkler and
water damage insurance policies maintained by Company are of kinds, in the amounts and against the risks customarily maintained by organizations
similarly situated. Schedule 3.21 lists all of the material insurance policies held by or on behalf of Company with the
effective date and coverage amounts indicated thereon. Such policies and binders are valid and enforceable in accordance with their terms
and are in full force and effect.

 

    	 

     

    

 

3.22. Brokers.
Except as disclosed in Schedule 3.22, no broker, finder or investment banker is entitled to any brokerage, finder’s
or other fee or commission from Company in connection with the transactions contemplated by this Agreement.

 

3.23. Bank
Accounts. Schedule 3.23 provides, as of the date of this Agreement, accurate information with respect to each account
maintained by or for the benefit of Company at any bank or other financial institution including the name of the bank or financial institution,
the account number and the names of all individuals authorized to draw on or make withdrawals from such accounts.

 

3.24. Certain
Payments. Neither Company or, to Company’s knowledge, any director, officer, agent or employee of Company, nor any other Person
acting for or on behalf of Company, has directly or indirectly, on behalf of Company, made any contribution, gift, bribe, rebate, payoff,
influence payment, kickback or other payment to any entity or Person, private or public, regardless of form, whether in money, property
or services in material violation of any federal, state, local or foreign statute, law, ordinance, rule or regulation.

 

3.25. Disclosure.
This Section 3, as supplemented by the Company Disclosure Schedule, does not contain any untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements contained herein or therein, in the light of the circumstances
under which they were made, not misleading.

 

4. Representations
and Warranties of Seller Parties. As a material inducement to Buyer to enter into this Agreement, each Seller Party, severally and
not jointly, makes the representations and warranties (each representation and warranty made by such Seller Party pursuant to this Section
4 relates solely to such Seller Party and not to the other Seller Parties making representations and warranties pursuant to this
Section 4) set forth below to Buyer, all of which are true and correct as of the date hereof and the Closing.

 

4.1. Authority.
Such Seller Party has all requisite power and authority to enter into the Transaction Documents to which it is a party and to consummate
the transactions contemplated hereby and thereby. Such Seller Party has duly approved the Transaction Documents to which it is a party.
This Agreement has been duly executed and delivered, and the other Transaction Documents to which such Seller Party is a party, when
delivered, will have been duly executed and delivered by such Seller Party, and constitute the valid and binding obligation of such Seller
Party, enforceable in accordance with their terms.

 

4.2. No
Conflict, Filings and Consents. The execution and delivery of this Agreement by such Seller Party does not, and the performance of
this Agreement by such Seller Party will not, (i) conflict with or violate or breach or constitute a default under any Law, Order or
Contract applicable to such Seller Party or by which its properties are bound or affected, or (ii) result in the creation of a Encumbrance
on any of the properties or assets of such Seller Party (including the Stock) pursuant to, any Contract, Law or Order to which such Seller
Party or its properties are bound or affected. The execution and delivery of this Agreement by such Seller Party does not, and the performance
of this Agreement by such Seller Party will not require any consent, approval, exemption, authorization or permit of, or filing with
or notification to, any Governmental Entity.

 

    	 

     

    

 

4.3. Title
to Shares. If such Seller Party is a Seller Shareholder, such Seller Shareholder has good and marketable title to the Stock free
and clear of any Encumbrances. Such Seller Shareholder has the full right, power and authority to transfer, convey and sell the Stock
to Buyer, and Buyer will acquire from such Seller Shareholder good and marketable title to the Stock free and clear of all Encumbrances.
Such Seller Shareholder is not a party to, subject to or bound by any Order which would prevent the transfer, conveyance and sale of
the Stock to Buyer.

 

4.4. Investment
Intention. Such Seller Party has such knowledge and experience in financial and business matters that such Seller Party is capable
of evaluating the merits and risks of acquiring the Parent Restricted Stock. Such Seller Party confirms that Buyer has made available
to such Seller Party the opportunity to ask questions of the officers and management of Buyer to acquire additional information about
Buyer. Such Seller Party will acquire the Parent Restricted Stock for investment only, and not with a view toward or for sale in connection
with any distribution thereof or with any present intention of distributing or selling any interest therein. Such Seller Party understand
that the sale, transfer and assignment of the Parent Restricted Stock hereunder have not been, and will not be registered or qualified
under the Securities Act of 1933, as amended (the “Securities Act”), if applicable, nor any state or any other applicable
securities Law, if applicable, by reason of a specific exemption from the registration or qualification provisions of those Laws, based
in part upon such Seller Party’s representations in this Agreement. Such Seller Party understands that no part of the Parent Restricted
Stock may be resold unless such resale is registered under the Securities Act and registered or qualified under applicable state securities
Laws or an exemption from such registration and qualification is available. Such Seller Party is an “accredited investor”
as such term is defined in Rule 501 of Regulation D of the Securities Act.

 

5. Representations
and Warranties of Buyer. As a material inducement to Seller Parties to enter into this Agreement, Buyer makes the following representations
and warranties to Seller Parties, all of which are true and correct as of the date hereof and the Closing.

 

5.1. Formation
and Qualification. Buyer is a limited liability company duly formed, validly existing and in good standing under the Laws of the
State of Delaware, and Buyer has the requisite limited liability company power and authority and is in possession of all Approvals necessary
to own, lease and operate the properties it purports to own, operate or lease and to carry on its business as it is now being conducted.
Buyer is duly qualified or licensed as a foreign limited liability company to do business, and is in good standing, in each jurisdiction
where the character of its properties owned, leased or operated by it or the nature of its activities makes such qualification or licensing
necessary.

 

5.2. Valid
Issuance of Parent Restricted Stock. The Parent Restricted Stock, when issued and delivered in accordance with the terms of this
Agreement, will be validly issued, fully paid and non-assessable and free of restrictions on transfer other than restrictions on transfer
under applicable state and federal securities laws. Assuming the accuracy of the representations of Seller Parties in Section 4 of this
Agreement, the Parent Restricted Stock will be issued in compliance with all applicable federal and state securities laws.

 

    	 

     

    

 

5.3. Authority
Relative to this Agreement. Buyer has all necessary limited liability company power and authority to execute and deliver this Agreement
and to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement
by Buyer and the consummation by Buyer of the transactions contemplated hereby have been duly and validly authorized by all necessary
limited liability company action on the part of Buyer, and no other limited liability company proceedings on the part of Buyer or the
sole member of Buyer are necessary to authorize this Agreement or to consummate the transactions contemplated hereby. This Agreement
has been duly and validly executed and delivered by Buyer and, assuming the due authorization, execution and delivery by Company, constitutes
a legal, valid and binding obligation of Buyer enforceable against it in accordance with its terms.

 

5.4. No
Conflict, Filings and Consents. The execution and delivery of this Agreement by Buyer does not, and the performance of this Agreement
by Buyer will not, (i) conflict with or violate the Certificate of Formation or operating agreement of Buyer, (ii) conflict with or violate
any Law or Order applicable to Buyer or by which its properties are bound or affected, or (iii) result in any breach of or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, or modification in a manner materially
adverse to Buyer of any right or benefit under, or impair Buyer’s rights or alter the rights or obligations of any third party
under, or give to others any rights of termination, amendment, acceleration, repayment or repurchase, increased payments or cancellation
under, or result in the creation of a Encumbrance on any of the properties or assets of Buyer pursuant to, any Contract, Law or Order
to which Buyer or its properties are bound or affected. The execution and delivery of this Agreement by Buyer does not, and the performance
of this Agreement by Buyer will not require any consent, approval, exemption, authorization or permit of, or filing with or notification
to, any Governmental Entity.

 

5.5. Brokers.
No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the
transactions contemplated by this Agreement.

 

5.6. Disclosure.
This Section 5 does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements contained herein or therein, in the light of the circumstances under which they were made, not misleading.

 

6. Additional
Agreements.

 

6.1. Employment
Agreements. Buyer and each of Lombardi and Holleran (the “Key Employees”) 1 shall enter into an
Employment Agreement substantially in the form of Exhibit A attached hereto (the “Employment
Agreements”).

 

6.2. Cooperation.
Subject to the terms and conditions of this Agreement, each of the Parties hereto shall use his, her or its best efforts to take, or
cause to be taken, all actions to do, or cause to be done, all things necessary, proper or advisable under applicable Laws and regulations
to consummate and make effective the transactions contemplated by this Agreement, including providing information and using reasonable
efforts necessary or appropriate to obtain waivers, consents and approvals to this Agreement and the transactions contemplated hereby,
including specifically obtaining any consent to transfer the Stock to Buyer, to effect all necessary registrations and filings. In the
event that any approval is not obtained (but without limitation on Buyer’s rights under Section 11), Seller Parties shall
cooperate with Buyer to ensure that Buyer obtains the benefits of each Contract that Company is bound by.

 

 

1
Subject to Buyer diligence whether any additional Key Employees will be added.

 

    	 

     

    

 

6.3. Public
Announcements. Buyer and Representative, acting on behalf of Seller Parties and Company, shall consult with each other before issuing
any press release with respect to this Agreement, the Transaction Documents and the transactions contemplated hereby and shall not issue
any such press release or make any such public statement, except as required by Law or any listing agreement with any applicable national
securities exchange, without the prior consent of the other Party, which shall not be unreasonably withheld, delayed or conditioned.

 

6.4. Tax
Cooperation. After the Closing, Seller Parties shall cooperate fully with Buyer and Company in the preparation of all tax returns
and shall provide to Buyer and Company any records and other information requested by such Parties in connection therewith. Seller Parties
shall cooperate fully with Buyer and Company in connection with any tax investigation, audit or other proceeding.

 

6.5. Non-Competition;
Non-Solicitation; Confidentiality.

 

(a) For
a period from the date hereof until the second anniversary of the Closing Date (“Restricted Period”), Lombardi and
Holleran (each a “Restricted Seller Party”) shall not, directly or indirectly, own, manage, operate, control or participate
in the ownership, management, operation or control of any business, whether in corporate, proprietorship or partnership form or otherwise,
that competes with the Business (a “Restricted Business”); provided, however, that the restrictions
contained in this Section 6.5(a) shall not restrict the acquisition by a Restricted Seller Party, directly or indirectly, of less
than one percent of the outstanding capital stock of any publicly traded company engaged in a Restricted Business.

 

(b) During
the Restricted Period, each Restricted Seller Party shall not, directly or indirectly: (i) cause, solicit, induce or encourage any employees
of Company to leave such employment or hire, employ or otherwise engage any such individual; or (ii) cause, induce or encourage any material
actual or prospective client, customer, supplier or licensor of the Business (including any existing or former customer or partner of
Company and any Person that becomes a client or customer of the Business after the Closing) or any other Person who has a material business
relationship with the Business, to terminate or modify any such actual or prospective relationship.

 

(c) From
and after the date hereof, each Seller Party shall not and shall cause its Affiliates and its and their respective officers and directors
not to, directly or indirectly, disclose, reveal, divulge or communicate to any Person other than authorized officers, directors and
employees of Company and Buyer or use or otherwise exploit for its own benefit or for the benefit of anyone other than Company or Buyer,
any Confidential Information (as defined below). Seller Parties and their respective officers, directors and Affiliates shall not have
any obligation to keep confidential any Confidential Information if and to the extent disclosure thereof is specifically required by
Law; provided, however, that in the event disclosure is required by applicable Law, the applicable Seller Party shall,
to the extent reasonably possible and permitted by Law, provide Buyer with prompt notice of such requirement prior to making any disclosure
so that Buyer may seek an appropriate protective order. For purposes of this Section 6.5(c), “Confidential Information”
means any information with respect to Company and the Business, including methods of operation, customers, customer lists, products,
prices, fees, costs, technology, inventions, trade secrets, know-how, software, marketing methods, plans, personnel, suppliers, competitors,
markets or other specialized information or proprietary matters. Confidential Information does not include information that (i) is generally
available to the public on the date hereof or (ii) becomes generally available to the public other than as a result of a disclosure not
otherwise permissible thereunder.

 

    	 

     

    

 

(d) The
covenants and undertakings contained in this Section 6.5 relate to matters which are of a special, unique and extraordinary character
and a violation of any of the terms of this Section 6.5 will cause irreparable injury to Company and Buyer, the amount of which
will be impossible to estimate or determine and which cannot be adequately compensated. Accordingly, the remedy at law for any breach
of this Section 6.5 will be inadequate. Therefore, Buyer will be entitled to an injunction, restraining order or other equitable
relief from any court of competent jurisdiction in the event of any breach or threatened breach of this Section 6.5 without the
necessity of proving actual damages or posting any bond whatsoever. The rights and remedies provided by this Section 6.5 are cumulative
and in addition to any other rights and remedies which Buyer may have hereunder or at law or in equity.

 

(e) The
Parties agree that, if any court of competent jurisdiction in a final non-appealable judgment determines that a specified time period,
a specified geographical area, a specified business limitation or any other substantially similar feature of this Section 6.5
is unreasonable, arbitrary or against public policy, then a lesser time period, geographical area, business limitation or other substantially
similar feature which is determined by such court to be reasonable, not arbitrary and not against public policy may be enforced against
the applicable party.

 

6.6. Release.

 

(a) Effective
as of the Closing, each Seller Party, on behalf of itself and himself, and such Seller Party’s Affiliates and its, his and their
respective equityholders, officers, directors, managers, employees, agents, attorneys, representatives, spouses, heirs, beneficiaries,
estates and executors, and its, his and their respective successors, assigns and insurers (collectively, the “Seller Party Releasors”),
does hereby release and forever discharge, and covenants not to sue, Company, Buyer and their respective Affiliates (including Parent),
and its and their respective equityholders, officers, directors, managers, employees, agents, attorneys and representatives, and their
respective spouses, heirs, beneficiaries, estates and executors, and its and their respective predecessors, successors, and assigns,
of and from any and all legally waivable claims, causes of actions, suits, lawsuits, debts, promises, agreements and demands whatsoever
in law or in equity, known or unknown, suspected or unsuspected (collectively, “Claims”), which the Seller Party Releasors
ever had, now have, or may have, from the beginning of time to the Closing Date, including, without limitation, Claims arising from or
related to Company, the Stock and the Business (“Seller Party Claims”), except as expressly set forth herein. The
Claims being waived and released include, without limitation: (i) all claims of violation of any Law arising from or relating to Seller
Party’s investment, recruitment, hire, employment and, if applicable, termination of employment with Company; (ii) all claims of
breach of fiduciary duty, wrongful discharge, emotional distress, defamation, misrepresentation, fraud, detrimental reliance, breach
of contractual obligations, promissory estoppel, negligence, assault and battery and violation of public policy; (iii) all claims to
disputed wages, compensation, and benefits, including any claims for violation of applicable Laws relating to wages and hours of work
(except as specifically set forth below); (iv) all claims for violation of any Law relating to termination of employment, unlawful discrimination,
harassment or retaliation under applicable Laws; (v) all claims to allocations, dividends, distributions, issuances of any equity interests
or other voting interests, grants of or vesting of options, warrants or other rights to purchase or obtain any equity interests or other
voting interests, rights of first refusal, rights of first offer, calls, puts, conversion or exchange, interest, repayment of debt or
obligations, cancellation of debt or obligations, loans, advances, access to books and records or management or control of Company; and
(vi) any and all claims for attorneys’ fees, monetary damages and any other form of personal relief.

 

    	 

     

    

 

(b) In
waiving and releasing any and all claims against the Seller Party Releasors, whether or not now known to such Seller Party, such
Seller Party understands that this means that, if such Seller Party later discovers facts different from or in addition to those facts
currently known by such Seller Party, or believed by such Seller Party to be true, the waivers and releases of this Section 6.6
will remain effective in all respects. Thus, such Seller Party expressly waives all rights afforded by Section 1542 of the Civil Code
of the State of California (“Section 1542”) and any similar applicable Law. Section 1542 states as follows:

 

A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR
AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
DEBTOR OR RELEASED PARTY.

 

(c) The
only claims that are not being waived and released by Seller Parties hereunder are claims Seller Parties may have for: (i) any
benefit entitlements that are vested as of the date hereof pursuant to the terms of a Company Employee Plan governed by ERISA; (ii) violation
of any Law that, by applicable Law, is not waivable; and (iii) Seller Parties’ rights pursuant to the terms of this Agreement and
the other Transaction Documents.

 

6.7. Post-Closing
Payments. Parent hereby guarantees the payment of the Post-Closing Payments.

 

7. Deliveries
at Closing.

 

7.1. Seller
Parties Closing Deliveries. At the Closing, Seller Parties and/or Company shall deliver or cause to be delivered to Buyer:

 

(a) certificates
representing the Stock, properly endorsed for transfer to or accompanied by a duly executed stock power in favor of Buyer or its nominee
as Buyer may have directed prior to the Closing Date and otherwise in a form acceptable for transfer on the books of Company;

 

    	 

     

    

 

(b) the
Employment Agreements, duly executed by (i) all of the Key Employees and (ii) at least 75% of the other employees of Company;

 

(c) the
consents and approvals as set forth on Schedule 3.5;

 

(d) written
resignations by each of the officers and directors of Company in office immediately prior to the Closing Date;

 

(e) a
certificate, dated as of the Closing Date, of the Secretary of Company evidencing all necessary or appropriate corporate action to enable
such Company to comply with the terms of this Agreement;

 

(f) a
certificate of good standing for Company issued by the New Jersey Secretary of State within a reasonable date of the Closing;

 

(g) a
UCC lien search certificate issued by the New Jersey Department of the Treasury within a reasonable date of the Closing, evidencing no
security interests in any of Company’s property or assets; and

 

(h) such
documents as Buyer or its counsel may reasonably require.

 

7.2. Buyer’s
Closing Deliveries. At the Closing, Buyer shall deliver or cause to be delivered to Seller Parties:

 

(a) the
Closing Payment;

 

(b) the
Employment Agreements, duly executed by Buyer; and

 

(c) such
other documents as Seller Parties or his, her or its counsel may reasonably require.

 

8. Conditions
to Obligations of Buyer. The obligation of Buyer to consummate the transactions contemplated by this Agreement and the Transaction
Documents is subject to the following conditions, any of which may be waived by it in writing in its sole discretion:

 

8.1. Due
Diligence. Buyer shall be entirely satisfied in its sole discretion with the results of its due diligence review and investigation.

 

8.2. Compliance
by Seller Parties and Company. Seller Parties and Company shall have performed and complied in all material respects with all agreements
and conditions required by this Agreement to be performed or complied with by Seller Parties and Company, as applicable prior to or on
the Closing Date, including, but not limited to the delivery by Sellers Parties and Company of the items set forth in Section 7.1.

 

8.3. Accuracy
of the Representations. The representations and warranties of Seller Parties and Company contained in this Agreement or any schedule,
certificate or other instrument delivered pursuant to the provisions hereof or in connection with the transactions contemplated hereby
shall be true and correct in all respects at and as of the Closing Date.

 

    	 

     

    

 

8.4. Consents.
Company shall have obtained each of the consents and approvals set forth on Schedule 3.5.

 

8.5. Material
Adverse Effect. No Material Adverse Effect shall have occurred subsequent to the Balance Sheet Date with respect to Company, nor
shall any event or circumstance have occurred which would result in a Material Adverse Effect with respect to Company.

 

8.6. Litigation.
No Action seeking to enjoin the transactions contemplated by this Agreement or to obtain damages on account hereof shall be pending.

 

8.7. Buyer
and Parent Approval. Approval of this Agreement and the consummation of the transactions contemplated hereby by the sole member of
Buyer and the board of directors of Parent.

 

9. Conditions
to Obligations of Seller Parties. The obligation of Seller Parties to consummate the transaction contemplated by this Agreement is
subject to the following conditions, any of which may be waived by him, her or it in his, her or its sole discretion:

 

9.1. Compliance
by Buyer. Buyer shall have performed and complied in all material respects with all agreements and conditions required by this Agreement
to be performed or complied with by Buyer prior to or on the Closing Date, including, but not limited to the delivery by Buyer of the
items set forth in Section 7.2.

 

9.2. Accuracy
of Buyer’s Representations. Buyer’s representations and warranties contained in this Agreement or any schedule, certificate
or other instrument delivered pursuant to the provisions hereof or in connection with the transactions contemplated hereby shall be true
and correct in all material respects at and as of the Closing Date.

 

9.3. Litigation.
No Action seeking to enjoin the transactions contemplated by this Agreement or to obtain damages on account hereof shall be pending.

 

10. Survival.
All of the representations and warranties made herein by the Parties shall survive the execution and delivery of this Agreement until
the second anniversary of the Closing Date, except for (a) Section 3.16, which shall survive until the lapse of the statute of
limitations with respect to the assessment of any taxes to which such representation and warranty relates (including any extensions or
waivers thereof), (b) Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.10, 3.15, 3.18, 3.20,
3.22, 3.24, 4.1, 4.2, 4.3 and 4.4 which shall survive until the lapse of the statute of limitations
with respect thereto (such sections referenced in Sections 10(a) and 10(b) collectively, “Seller Parties’
Fundamental Representations”), and (c) Sections 5.1, 5.2, 5.3, 5.4 and 5.5 which shall survive
until the lapse of the statute of limitations with respect thereto (such sections referenced in Section 10(c) collectively, “Buyer’s
Fundamental Representations”) provided, however, that any obligations under Section 11.1(a) or Section
11.2(a) shall not terminate with respect to any Claims (as defined below) as to which the Indemnified Party shall have given notice
(stating in reasonable detail the basis of the claim for indemnification) to the Indemnifying Party before the termination of the applicable
survival period. Notwithstanding the foregoing, this Section 10 shall not limit any covenant or agreement of the Parties which
by its terms contemplates performance after the Closing Date and which shall survive according with its respective terms.

 

    	 

     

    

 

11. Indemnification.

 

11.1. Seller
Parties Indemnification. Except as otherwise provided in this Section 11, each Seller Party, jointly and severally (collectively,
the “Seller Indemnifying Parties”), agrees to indemnify, defend and hold harmless Buyer, Company and their respective
Affiliates (including Parent) and their respective officers, directors, agents, employees, subsidiaries, partners, members and controlling
Persons (each, an “Seller Indemnified Party”) to the fullest extent permitted by law from and against any and all
actions, suits, proceedings, claims, complaints, disputes, arbitrations or investigations or written threats thereof (collectively, “Claims”)
(including, without limitation, any Claim by a third party), losses, Liabilities, damages (including indirect, incidental and consequential
damages but excluding punitive, special, and exemplary damages except to the extent that an Indemnified Party is required to pay such
damages to a third party), costs and expenses, taxes, interest, awards, judgments and penalties (including attorneys’ and consultants’
fees and expenses) suffered or incurred by them (including any Action brought or otherwise initiated by any of them) (collectively, “Losses”)
resulting from or arising out of (a) any breach of any representation or warranty by Company or Seller Parties in this Agreement, and
(b) any breach of any covenant or agreement by Company or Seller Parties in this Agreement.

 

11.2. Buyer
Indemnification. Except as otherwise provided in this Section 11, Buyer (the “Buyer Indemnifying Party”,
and the Seller Indemnifying Parties and the Buyer Indemnifying Party, collectively, the “Indemnifying Parties”) agrees
to indemnify, defend and hold harmless Seller Parties and their Affiliates and their respective officers, directors, agents, employees,
subsidiaries, partners, members and controlling Persons (each, an “Buyer Indemnified Party” and the Seller Indemnified
Parties and the Buyer Indemnifying Parties, collectively, the “Indemnifying Parties”) from and against any and all
Claims for Losses resulting from or arising out of (a) any breach of any representation or warranty by Buyer in this Agreement, and (b)
any breach of any covenant or agreement by Buyer in this Agreement.

 

11.3. Procedure
for Indemnification.

 

(a) Each
Indemnified Party under this Section 11 shall, promptly after the receipt of notice of the commencement of any Claim against such
Indemnified Party in respect of which indemnity may be sought from an Indemnifying Party under this Section 11, notify such Indemnifying
Party in writing of the commencement thereof. The omission of any Indemnified Party to so notify such Indemnifying Party of any such
action shall not relieve such Indemnifying Party from any liability which it may have to such Indemnified Party under this Section
11 unless, and only to the extent that, such omission results in such Indemnifying Party’s loss of substantive or practical
rights or defenses. In case any such Claim shall be brought against any Indemnified Party, and it shall notify such Indemnifying Party
of the commencement thereof, such Indemnifying Party shall be entitled to assume the defense thereof at its own expense, with counsel
satisfactory to such Indemnified Party in its reasonable judgment; provided, however, that any Indemnified Party may, at
its own expense, retain separate counsel to participate in such defense at its own expense.

 

(b) In
connection with the obligation of an Indemnifying Party to indemnify for Losses as set forth above, such Indemnifying Party shall, upon
presentation of appropriate invoices containing reasonable detail, reimburse each Indemnified Party for all such Losses (including reasonable
fees, disbursements and other charges of counsel incurred by the Indemnified Party in any action between such Indemnifying Party and
the Indemnified Party or between the Indemnified Party and any third party) as they are incurred by such Indemnified Party.

 

    	 

     

    

 

(c) Notwithstanding
the foregoing, in any Claim in which both the Indemnifying Party, on the one hand, and an Indemnified Party, on the other hand, are,
or are reasonably likely to become, a party, such Indemnified Party shall have the right to employ separate counsel and to control its
own defense of such Claim if, in the reasonable opinion of counsel to such Indemnified Party, either (x) one or more defenses are available
to the Indemnified Party that are not available to the Indemnifying Party or (y) a conflict or potential conflict exists between the
Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, that would make such separate representation advisable;
provided, however, that the Indemnifying Party (i) shall not be liable for the fees and expenses of more than one counsel
to all Indemnified Parties and (ii) shall reimburse the Indemnified Parties for all of such fees and expenses of such counsel incurred
in any action between the Indemnifying Party and the Indemnified Parties or between the Indemnified Parties and any third party, as such
expenses are incurred.

 

(d) The
Indemnifying Party agrees that it will not, without the prior written consent of the Indemnified Party, settle, compromise or consent
to the entry of any judgment in any pending or threatened Claim relating to the matters contemplated hereby unless such settlement, compromise
or consent includes an unconditional release of each Indemnified Party from all liability arising or that may arise out of such Claim.

 

(e) The
Parties agree to treat indemnification payments under Section 11 as adjustments to the Purchase Price for tax purposes.

 

11.4. Limitations
on Indemnification. Notwithstanding any other provision of this Section 11, other than with respect to Claims based on fraud
or willful misrepresentation, no Claims shall be brought for indemnification pursuant to Section 11.1(a) or Section 11.2(a)
after the survival period set forth in Section 10 hereof, and, the Indemnifying Parties shall not be obligated, individually
or collectively, to make any payment or payments pursuant to Section 11.1(a) or Section 11.2(a) in an aggregate amount
in excess of the Purchase Price. The Parties further agree that the Losses of the Indemnified Parties for indemnification pursuant to
Section 11.1(a) or Section 11.2(a) will not be applicable unless and until the aggregate amount of Losses being claimed
by the Indemnified Parties shall equal or exceed $100,000 (the “Indemnity Threshold”); and, if that shall occur, then
the Indemnifying Party will provide indemnification for all Losses incurred by the Indemnified Parties from the first dollar. The Indemnity
Threshold, however, shall not apply (i) to claims for breach of the Seller Parties’ Fundamental Representations or Buyer’s
Fundamental Representations, as applicable, or (ii) in respect of any breach of any representations and warranties made herein where
the alleged breach is a result of fraud or willful misrepresentation.

 

11.5. Set-Off;
Forfeiture of Parent Restricted Stock.

 

(a) Upon
notice to Seller Parties specifying in reasonable detail the basis therefor, Buyer may (i) set-off any amount to which it claims to be
entitled from Seller Parties, including any amounts that may be owed under this Section 11 or otherwise, against amounts otherwise
payable under this Agreement (including any amounts that may be payable under this Section 11, the Post-Closing Payments, any
Final Closing Cash Amount and any Final Collected Closing Accounts Receivable Amount) and/or (ii) elect to satisfy any amount to which
it claims to be entitled from Seller Parties by forfeiture to Buyer of all or a portion of the Parent Restricted Stock held by Seller
Parties.

 

    	 

     

    

 

(b) In
the event that Buyer elects to satisfy any amount to which it claims to be entitled from Seller Parties by forfeiture to Buyer of all
or a portion of the Parent Restricted Stock held by Seller Parties, then Seller Parties shall, automatically and without any further
action required by Buyer, Parent or Seller Parties, be deemed to have forfeited to Buyer such number of Parent Shares necessary to fully
satisfy such amount to which Buyer elects to satisfy. For the purposes of any forfeiture of the Parent Restricted Stock by Seller Parties
pursuant to this Section 11.5, the Parent Restricted Stock shall be valued, as of the date on which the applicable claim was incurred,
at the volume weighted average price of one share of Parent common stock traded on the primary national securities exchange or marketplace
(including the over-the-counter markets) on which the Parent common stock is then traded for a 20 consecutive trading day period.

 

(c) The
exercise of such right of set-off and/or forfeiture by Buyer in good faith, whether or not ultimately determined to be justified, will
not constitute a default under this Agreement, regardless of whether Seller Parties dispute such set-off and/or forfeiture claim, or
whether such set-off and/or forfeiture claim is for a contingent or an unliquidated amount. Neither the exercise of, nor the failure
to exercise, such right of set-off and/or forfeiture will constitute an election of remedies or limit Buyer in any manner in the enforcement
of any other remedies that may be available to it. If the portion of the Post-Closing Payments, any Final Closing Cash Amount or any
Final Collected Closing Accounts Receivable Amount otherwise due and payable, or the Parent Restricted Stock held by Seller Parties,
is insufficient to pay the amount determined to be owed to Buyer under this Section 11, Seller Parties shall be responsible to
pay any shortfall.

 

11.6. Rights
Not Affected by Knowledge. The right to indemnification, payment of Losses or other remedy based on the representations, warranties,
covenants and agreements of the Parties contained herein will not be affected by any investigation conducted with respect to, or any
knowledge acquired (or capable of being acquired) by the Party seeking indemnification, at any time, whether before or after the Closing
Date, with respect to the accuracy or inaccuracy of, or compliance with, any such representation, warranty, covenant or agreement.

 

11.7. Not
Exclusive Remedy. This Section 11 shall not be deemed to preclude or otherwise limit in any way the exercise of any other
rights or pursuit of other remedies for the breach of this Agreement or with respect to any misrepresentation or fraud.

 

12. Miscellaneous.

 

12.1. Expenses.
Except as otherwise provided herein, Seller Parties (and not Company on behalf of Seller Parties) and Buyer shall each pay their own
expenses incident to the negotiation, preparation, and carrying out of this Agreement, including all fees and expenses of its counsel
and accountants for all activities of such counsel and accountants undertaken pursuant to this Agreement, irrespective of whether or
not the transactions contemplated hereby are consummated.

 

    	 

     

    

 

12.2. Notices.
All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed to have been duly given or
made if and when delivered personally or by overnight courier to the Parties at the following addresses or sent by electronic transmission,
with confirmation received, to the telecopy numbers specified below (or at such other address or telecopy number for a Party as shall
be specified by like notice):

 

	 	To
    Buyer:
	 	Maven
    Media Brands, LLC
	 	C/-
    TheMaven, Inc.
	 	225 Liberty Street, 27th Floor

                                                                                New York, NY 10281 USA

                                                                                Attention: Legal Department

                                                                                Email:
                                            legal@maven.io 

	 	 
	 	With
    a copy to (which shall not constitute notice):
	 	 
	 	Hand Baldachin & Associates LLP

                                                                                1740 Broadway, 15th Floor

                                                                                New York, NY 10019

                                                                                Attention: Alan G. Baldachin, Esq.

                                                                                E-Mail:
                                            abaldachin@hballp.com

	 	 
	 	To
    Company or Representative:
	 	 
	 	College
    Spun Media Incorporated
	 	106
    Lawrence Court
	 	Ridgewood,
    NJ 07450
	 	Attention: Matthew Lombardi

                                                                                E-Mail:
                                            MJLombard06@gmail.com

	 	 
	 	With
    a copy to:
	 	 
	 	RTN
    Financial60 Waldron Avenue
	 	Glen
    Rock, NJ 07452
	 	Attention:
    Timothy Ray
	 	E-Mail:
    tray@rtnfinancial.com 

 

Any
such notice shall, when sent in accordance with the preceding sentence, be deemed to have been given and received on the earliest of
(i) the day delivered to such address, (ii) the day sent by facsimile transmission, (iii) the fifth business day following the date deposited
with the United States Postal Service, or (iv) 24 hours after shipment by such courier service.

 

    	 

     

    

 

12.3. Assignment;
Third Party Beneficiaries. Neither this Agreement nor any rights or obligations under it are assignable except that Buyer may assign
its rights hereunder with Representative’s consent, which shall not be unreasonably withheld, delayed or conditioned. Except for
the Indemnified Parties, there shall be no third party beneficiaries of this Agreement.

 

12.4. Governing
Law; Venue; Waiver of Jury Trial. This Agreement shall be governed by, and construed in accordance with, the laws of the State of
New York applicable to contracts executed in and to be performed in that State. Each of the Parties hereby irrevocably and unconditionally
consents to submit to the exclusive jurisdiction of the courts of the State of New York and of the United States, in each case located
in the County of New York, for any litigation arising out of or relating to this Agreement (and agrees not to commence any litigation
relating thereto except in such courts). The Parties hereby further irrevocably waive any right to a jury trial in any action arising
out of or in connection with this Agreement.

 

12.5. Counterparts.
This Agreement may be executed in one or more counterparts, and by the different Parties hereto in separate counterparts, each of which
when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. A signed
copy of this Agreement delivered by facsimile, email or other means of electronic transmission shall be deemed to have the same legal
effect as delivery of an original signed copy of this Agreement. Each Party agrees that any electronic signatures, whether digital or
encrypted, of a Party included in this Agreement are intended to authenticate this writing and to have the same force and effect as manual
signatures. Electronic signature means any electronic sound, symbol, or process attached to or logically associated with a record and
executed and adopted by a Party with the intent to sign such record, including facsimile or email electronic signatures.

 

12.6. No
Implied Waiver; Remedies. No failure or delay on the part of the Parties hereto to exercise any right, power, or privilege hereunder
or under any instrument executed pursuant hereto shall operate as a waiver nor shall any single or partial exercise of any right, power,
or privilege preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. All rights, powers,
and privileges granted herein shall be in addition to other rights and remedies to which the Parties may be entitled at law or in equity.

 

12.7. Entire
Agreement. This Agreement, including the Exhibits and Schedules attached hereto, sets forth the entire understandings of the Parties
with respect to the subject matter hereof, and it incorporates and merges any and all previous communications, understandings, oral or
written as to the subject matter hereof.

 

12.8. Amendments;
Actual Waivers. This Agreement may not be amended except by an instrument in writing signed on behalf of Buyer and Representative.
Any agreement on the part of Buyer or Representative hereto to any such extension or waiver shall be valid if set forth in an instrument
in writing signed on behalf of Buyer or Representative.

 

12.9. Headings.
The headings of the Sections of this Agreement, where employed, are for convenience only and do not form a part hereof and in no way
modify, interpret or construe the meanings of the Parties.

 

    	 

     

    

 

12.10. Severability.
Any provision of this Agreement which is invalid or unenforceable shall be ineffective only to the extent of such invalidity or unenforceability
without invalidating or rendering unenforceable the remaining provisions of this Agreement. Provided, however, in the event the provision
which is invalid or unenforceable pertains to a material element of the transaction such that the principal objectives of the transaction
provided for herein are materially impaired or are invalid or unenforceable, this Agreement shall be terminated.

 

12.11. Specific
Performance. Seller Parties, Buyer and Company each acknowledge that, in view of the uniqueness of the Business and the transactions
contemplated by this Agreement, each Party would not have an adequate remedy at law for money damages in the event that this Agreement
has not been performed in accordance with its terms, and therefore agrees that the Parties shall be entitled to specific enforcement
of the terms hereof in addition to any other remedy to which the Parties may be entitled, at law or in equity.

 

12.12. No
Presumption Regarding Drafter. The Parties acknowledge and agree that the terms and provisions of this Agreement have been negotiated
and discussed between them, and that this Agreement reflects their mutual agreement regarding the subject matter of this Agreement. Because
of the nature of such negotiations and discussions, it would not be appropriate to deem either Buyer or Seller Parties to be the drafter
of this Agreement, and therefore no presumption for or against the drafter shall be applicable in interpreting or enforcing this Agreement.

 

12.13. ACKNOWLEDGMENT.
EACH SELLER PARTY ACKNOWLEDGES THAT (A) BUYER HAS ADVISED HIM/HER/IT OF HIS/HER/ITS RIGHT TO CONSULT WITH AN ATTORNEY PRIOR TO SIGNING
THIS AGREEMENT; (B) HE/SHE/IT HAS CAREFULLY READ AND FULLY UNDERSTANDS ALL OF THE PROVISIONS OF THIS AGREEMENT, AND (C) HE/SHE/IT IS
ENTERING INTO THIS AGREEMENT, INCLUDING THE RESTRICTIVE COVENANTS (IF APPLICABLE) AND RELEASES SET FORTH HEREIN, KNOWINGLY, FREELY AND
VOLUNTARILY IN EXCHANGE FOR GOOD AND VALUABLE CONSIDERATION (INCLUDING, BUT NOT LIMITED TO, THE PAYMENTS TO BE MADE UNDER THIS AGREEMENT,
TO WHICH HE/SHE/IT WOULD NOT BE ENTITLED TO IN THE ABSENCE OF SIGNING THIS AGREEMENT).

 

13. Representative.

 

13.1. Appointment.
Each Seller Party hereby irrevocably makes, constitutes and appoints Representative as his, her or its agents and attorney-in-fact with
full power of appointment and substitution to act together for him, her or it and in his, her or its name in connection with all matters
relating to this Agreement and the Transaction Documents.

 

13.2. Power
and Authority. Each Seller Party hereby gives Representative full power and authority to: (a) execute amendments to this Agreement;
(b) give and receive all notices and other communications relating to this Agreement, including without limitation or any notice of a
Claim; (c) act on such Seller Party’s behalf according to the terms of this Agreement, including, without limitation, in the negotiation,
settlement and/or defense in connection with any matter as to which such Seller Party is an Indemnifying Party or to otherwise resolve
any indemnification matters contemplated by Section 11 hereof, all in the absolute discretion of Representative; (d) engage and
compensate professionals, including attorneys and accountants, on behalf of Seller Parties, to advise and assist Representative in the
performance of his duties under this Agreement in the absolute discretion of Representative; and (e) in general, do all things and to
perform all acts, including, without limitation, executing and delivering all agreements, certificates, receipts, instructions, instruments
and documents, contemplated by or deemed advisable in connection with this Agreement all without notice to any Seller Party and with
the same effect as if Seller Parties had themselves taken such action. The foregoing power of attorney is a special power of attorney
coupled with an interest, is irrevocable and shall survive the death or legal incapacity of each Seller Party. The power of attorney
shall survive the assignment by a Seller Party of his, her or its rights and interests under this Agreement or the Transaction Documents.
This power of attorney shall not be affected by the subsequent incapacity or mental incompetence of any Seller Party.

 

    	 

     

    

 

13.3. Seller
Parties’ Acknowledgement Regarding Representative. Each Seller Party acknowledges that (a) Buyer may rely and act upon any
action taken by and upon any agreements and documents signed by Representative with the same force and effect as if such Seller Party
himself, herself or itself had so acted, (b) Buyer and any other Person entitled to indemnification from any Seller Party pursuant to
Section 11 shall be entitled to deal exclusively with Representative on all matters relating to this Agreement (including all
matters relating to Section 11) and (c) Buyer shall be entitled to rely conclusively (without further evidence of any kind whatsoever)
on any document executed or purported to be executed on behalf of any Seller Party by Representative and on any other action taken or
purported to be taken on behalf of any Seller Party by Representative as fully binding upon such Seller Party.

 

13.4. Resignation,
Death and Incapacity of Representatives. In the event of the resignation, death or incapacity of Representative, then a successor
Representative shall be appointed within thirty (30) days thereafter by Seller Parties (or their personal representatives if deceased
or incapacitated) who represent a majority of the percentages set forth on Schedule 1 attached hereto (the “Seller
Allocable Shares”) immediately prior to the Closing. The choice of a successor Representative appointed in any manner permitted
above shall be final and binding upon all Seller Parties and Buyer. The decisions and actions of any successor Representative shall be,
for all purposes, those of Representative as if originally named herein.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first set forth above.

 

	 	BUYER:
	 	 	 
	 	MAVEN
    MEDIA BRANDS, LLC 
	 	By:	TheMaven,
    Inc., its Sole Member
	 	 	 
	 	By:	
	 	Name:
    	 
	 	Title:	 
	 	 	 
	 	PARENT:
	 	 	 
	 	THEMAVEN, INC.
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:	
	 	 	 
	 	COMPANY:
	 	 	 
	 	College Spun Media Incorporated 
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:	 

 

    	 

     

    

 

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first set forth above.

 

	 	SELLER
    PARTIES: 
	 	 
	 	
	 	Mathew
    Lombardi
	 	 
	 	
	 	Alyson
    Shontell-Lombardi 
	 	 
	 	
	 	Timothy
    Ray
	 	 
	 	
	 	Andrew
    Holleran
	 	 
	 	REPRESENTATIVE:
    
	 	 
	 	
	 	Mathew
    Lombardi

 

    	 

     

    

 

Schedule
1

 

Schedule
of Seller PARTIEs

 

	Name and Address	 	Shares of Stock Owned	 	 	Cash Allocable Share	 	 	Equity Allocable Share	 	 	Seller Allocable Share	 
	Matthew Lombardi  

                                             _____________
	 	 	37,060	 	 	 	48.9036	%	 	 	84.2	%	 	 	57.0	%
	Alyson Shontell-Lombardi  

                                 _____________
	 	 	19,050	 	 	 	38.0316	%	 	 	0.0	%	 	 	29.3	%
	Timothy Ray   

                                 ______________
	 	 	1,200	 	 	 	1.8648	%	 	 	1.8	%	 	 	1.9	%
	Andrew Holleran     

                                 _______________
	 	 	0	 	 	 	11.2000	%	 	 	14.0	%	 	 	11.8	%
	Total	 	 	57,310	 	 	 	100	%	 	 	100	%	 	 	100	%

  

    	 

     

    

 

SCHEDULE
2.5(b)

 

KEY
PERSONS

 

Matthew
Lombardi (70%)

 

Andrew
Holleran (30%)

 

    	 

     

    

 

Exhibit
A

 

FORM
Employment AGREEMENT

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