Document:

mmex_ex411.htm

EXHIBIT 4.11
 
SECOND AMENDMENT TO PROMISSORY NOTES
 
THIS SECOND AMENDMENT TO PROMISSORY NOTES (the “Amendment”), dated March 31, 2020, is entered into by MMEX Resources Corporation (the “Company”) and GS Capital Partners, LLC (“Holder”). 
 
WHEREAS, the Company has issued the following notes (the “Notes”) to Holder:
 
	  
	 (i) 
	a $110,000 note dated September 13, 2018 and due September 13, 2019;
	  
	  
	  

	  
	 (ii) 
	a $70,000 note dated September 18, 2018 and due September 18, 2019; 
	  
	  
	  

	  
	 (iii) 
	a $600,000 note dated October 5, 2018 and due October 5, 2019; and
	  
	  
	  

	  
	 (iv) 
	a $110,000 note dated February 20, 2019 and due February 20, 2020; and

    
WHEREAS, on September 12, 2019, the Company and Holder executed an Amendment to Promissory Notes, which extended the maturity dates for convertible promissory notes (i)-(iii) to February 4, 2020; and
 
WHEREAS, the Company and the Holder desire to amend the Notes; 
 
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed by each party hereto as follows: 
 
1. The maturity dates of the Notes are hereby extended to November 20, 2020.
 
2. In consideration of the extension of the maturity dates of the Notes, the Company will pay an extension fee of $200,000 to Holder. The extension fee will be due and payable in cash to Holder, as an increase to the principal balance of the Notes, at the earlier of (1) in connection with, and at the time of, the repayment of the Notes, or (2) on November 20, 2020. Further, the interest rate on the Notes shall be increased to 18% per annum effective as of February 20, 2020.
 
	 
	1
	

	 

  
3. Concurrent with the execution of this Amendment, the Company shall execute and deliver to the Holder the Joint Motion for Agreed Judgment (“Judgment”), annexed hereto as Exhibit A, which Holder shall promptly file with the Texas District Court, Travis County. The Company shall not engage in any Judgment execution or enforcement actions whatsoever unless and until the occurrence of an Event of Default under any of the Notes (in accordance with their terms), at which point the Holder may engage in any and all Judgment enforcement and execution actions, including but not limited to recording the Judgment in the real property records. The terms of the Notes notwithstanding, the Holder may (but is not required to) commence an action to enforce any of the Notes, in any court of competent jurisdiction located in the State of Texas, for which the Company hereby consents to such jurisdiction. 
 
4. Except as expressly amended and modified by this Amendment, the Notes are and shall continue to be in full force and effect in accordance with the terms thereof.
 
5. This Amendment may be executed by the parties hereto in counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 
 
 
IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Promissory Notes to be duly executed as of the date first written above. 
 
	 	MMEX Resources Corporation	
	 	 	 	 
		By:	/s/ JACK W. HANKS	
	  
	  
	Jack W. Hanks, CEO	 
	 	 		 
	 	GS Capital Partners, LLC	 
	  
	  
	  
	  

	  
	 By:
	 /s/ GABE SAYEGH
	  

	  
	  
	 Gabe Sayegh, President
	  

    
   
	2Exhibit 10.1

 

VOTING
AGREEMENT AND IRREVOCABLE PROXY

 

THIS
VOTING AGREEMENT AND IRREVOCABLE PROXY (this “Agreement”) is entered into as of August 13, 2020
(the “Effective Date”), by and among Rennova Health, Inc., a Delaware corporation (the “Company”),
Seamus Lagan, an individual shareholder of the Company (“Lagan”), Alcimede LLC, a shareholder of the
Company (“Alcimede”), and Christopher Diamantis, an individual shareholder of the Company (“Diamantis”,
and together with Lagan and Alcimede, the “Shareholders”, and each, a “Shareholder”).

 

RECITALS

 

WHEREAS,
as of the Effective Date, Lagan is the owner of five shares of the Company’s Common Stock (the “Lagan Shares”);

 

WHEREAS,
as of the Effective Date, Alcimede, of which Lagan is the sole manager, is the owner of 250,000 shares of the Company’s
Series L Convertible Preferred Stock (the “Alcimede Shares”);

 

WHEREAS,
on June 30, 2020, the Company and Diamantis entered into that certain Exchange Agreement (the “Exchange Agreement”),
pursuant to which the Company issued to Diamantis 22,000 shares of Series M Convertible Preferred Stock (the “Series
M Preferred Stock”), which, regardless of the number of shares of Series M Preferred Stock outstanding and so long
as at least one share of Series M Preferred Stock is outstanding, the outstanding shares of Series M Preferred Stock shall have
the number of votes, in the aggregate, equal to 51% of all votes entitled to be voted at any meeting of stockholders or action
by written consent (the “Diamantis Shares”, and together with the Lagan Shares and the Alcimede Shares,
the “Shares”), in exchange for the extinguishment of the Company’s indebtedness to Diamantis totaling
$18,849,637.06, including accrued interest; and

 

WHEREAS,
the execution and delivery of this Agreement by Lagan and Alcimede were material inducements to the willingness of Diamantis to
enter into the Exchange Agreement.

 

NOW,
THEREFORE, in consideration of the promises and the covenants and agreements set forth in the Exchange Agreement and in this
Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

 

1.
Restrictions on Diamantis Shares; New Shares.

 

(a)
No holder of the Series M Preferred Stock shall Transfer (as defined in the Series M Preferred Stock Certificate of Designation)
all or any of its shares of Series M Preferred Stock without the written consent of the Company. Even if he receives such consent,
Diamantis shall not, directly or indirectly, transfer (except as may be specifically required by court order or by operation of
law), grant an option with respect to, sell, exchange, pledge or otherwise dispose of, reduce his economic risk in, or encumber,
the Diamantis Shares or any New Shares (as defined below), or make any offer or enter into any agreement or binding arrangement
or commitment providing for any of the foregoing, at any time prior to the Expiration Time (as defined below); provided,
however, that Diamantis may transfer or otherwise dispose of Diamantis Shares and New Shares (i) to any member of his immediate
family, (ii) to a trust for the benefit of Diamantis or any member of his immediate family for estate planning purposes, (iii)
to a charitable organization qualified under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or (iv) in connection
with or for the purpose of personal tax-planning; provided, however, that any transfer referred to in the foregoing
clauses (i) through (iv) and the introductory language thereto shall be permitted only if, as a precondition to such transfer,
the transferee agrees to be bound by the terms and conditions of this Agreement and, if requested by Lagan, to execute a Proxy
(as defined below). As used herein, the term “Expiration Time” shall mean the earliest to occur of (A)
Lagan’s death, (B) such date and time designated by Lagan in a written notice to Diamantis, or (C) the written agreement
of the parties hereto to terminate this Agreement.

 

    	 

    	 

    

 

(b)
Except with the written consent of the Company and pursuant to the terms of this Agreement, Diamantis shall not, directly or indirectly,
grant any proxies or powers of attorney with respect to any of the Diamantis Shares or New Shares, deposit any of the Diamantis
Shares or New Shares into a voting trust, or enter into a voting agreement or similar arrangement or commitment with respect to
any of the Diamantis Shares or New Shares or make any public announcement that is in any manner inconsistent with Section 2.

 

(c)
Except as otherwise provided herein, no Shareholder shall, in his or its capacity as a shareholder of the Company, directly or
indirectly, take any action that would make any representation or warranty contained herein untrue or incorrect or be reasonably
expected to have the effect of impairing his or its ability to perform his or its obligations under this Agreement or preventing
or delaying the consummation of any of the transactions contemplated hereby.

 

(d)
Any securities of the Company that Alcimede or Diamantis acquires upon conversion of the Series L Preferred Stock or the Series
M Preferred Stock after the date of this Agreement and prior to the Expiration Time, or that any Shareholder acquires by reason
of any stock split, stock dividend, reclassification, recapitalization or other similar transaction (collectively, the “New
Shares”), shall be subject to the terms and conditions of this Agreement to the same extent as if they constituted
Shares.

 

2.
Agreement to Vote Shares.

 

(a)
Prior to the Expiration Time, at every meeting of the stockholders of the Company, and at every adjournment or postponement thereof,
and on every action or approval by written consent or resolution of the stockholders of the Company, each of Lagan, Alcimede and
Diamantis shall vote, to the extent not voted by the person(s) appointed under the Proxy, the Shares owned by him or it and any
New Shares in such manner as is decided by Lagan in his sole and absolute discretion. Accordingly, during the term of this Agreement,
Diamantis shall not vote or attempt to vote any of his respective shares of the Shares, or otherwise exercise or attempt to exercise
any voting or other approval rights of any of his respective shares of the Shares, in contravention of the foregoing, and any
such prohibited exercise by Diamantis of voting or approval rights shall be void and of no force or effect.

 

    	2

    	 

    

 

(b)
Notwithstanding the foregoing, nothing in this Agreement shall limit or restrict Lagan or Diamantis from acting in such Shareholder’s
capacity as a director or officer of the Company, to the extent applicable, it being understood that this Agreement shall apply
to such Shareholder solely in such Shareholder’s capacity as a stockholder of the Company.

 

3.
Irrevocable Proxy. Concurrently with the execution and delivery of this Agreement, Diamantis shall deliver to Lagan and
the Company a duly executed proxy in the form attached hereto as Exhibit A (the “Proxy”), which
proxy is (and the parties hereby agree that it is) coupled with an interest sufficient in law to support an irrevocable proxy,
and, until the Expiration Time, shall be irrevocable to the fullest extent permitted by law, with respect to each and every meeting
of stockholders of the Company or action or approval by written resolution or consent of stockholders of the Company in accordance
with Section 2(a) covering the total number of Shares and New Shares in respect of which Diamantis is entitled to vote
at any such meeting or in connection with any such written consent. Upon the execution of this Agreement by Diamantis, (i) Diamantis
hereby revokes any and all prior proxies (other than the Proxy) given by him with respect to the subject matter contemplated by
Section 2(a), and (ii) Diamantis shall not grant any subsequent proxies with respect to such subject matter, or enter into
any agreement or understanding with any person to vote or give instructions with respect to the Shares and New Shares in any manner
inconsistent with the terms of Section 2, until after the Expiration Time.

 

4.
Representations, Warranties and Covenants of the Shareholders. Each of the Shareholders hereby represents, warrants and
covenants to the other parties as follows:

 

(a)
As of the Effective Date, such Shareholder is the beneficial or record owner of, or exercises voting power over the Lagan Shares,
the Alcimede Shares or the Diamantis Shares, as the case may be. No person not a signatory to this Agreement has a beneficial
interest in or a right to acquire or vote any of the Shares (other than, if such Shareholder is a married individual and resides
in a state with community property laws, the community property interest of his spouse to the extent applicable under such community
property laws). The Shares owned by such Shareholder are and will be at all times up until the Expiration Time free and clear
of any security interests, liens, claims, pledges, options, rights of first refusal, co-sale rights, agreements, limitations on
such Shareholder’s voting rights, charges and other encumbrances of any nature that would adversely affect the exercise
or fulfillment of the rights and obligations of such Shareholder under this Agreement or of the parties to this Agreement. Such
Shareholder’s principal residence or place of business is set forth on the signature page hereto.

 

(b)
Such Shareholder has all requisite power, capacity and authority to enter into this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement by such Shareholder and the consummation by such Shareholder
of the transactions contemplated hereby have been duly authorized by all necessary action, if any, on the part of such Shareholder,
and no other actions or proceedings on the part of such Shareholder are necessary to authorize the execution and delivery by such
Shareholder of this Agreement and the consummation by such Shareholder of the transactions contemplated hereby. This Agreement
has been duly executed and delivered by such Shareholder and, assuming the due authorization, execution and delivery of this Agreement
by the other parties, constitutes a valid and binding obligation of such Shareholder, enforceable against such Shareholder in
accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
similar laws affecting creditors’ rights and remedies generally and to general principles of equity.

 

    	3

    	 

    

 

(c)
The execution and delivery of this Agreement does not, and the performance by such Shareholder of his or its agreements and obligations
hereunder will not, conflict with, result in a breach or violation of or default under (with or without notice or lapse of time
or both), or require notice to or the consent of any person under, any agreement, commitment, law, rule, regulation, judgment,
order or decree to which such Shareholder is a Shareholder or by which such Shareholder is bound, except, in the case of Diamantis,
for the written consent of the Company under the terms of the Series M Preferred Stock.

 

(d)
Such Shareholder agrees that he or it will not in his or its capacity as a stockholder of the Company bring, commence, institute,
maintain, prosecute or voluntarily aid any action, claim, suit or cause of action, in law or in equity, in any court or before
any governmental entity, which challenges the validity or seeks to enjoin the operation of any provision of this Agreement or
the Proxy.

 

5.
Further Assurances. Each party agrees, from time to time, and without additional consideration, to execute and deliver
such additional proxies, documents, and other instruments and to take all such further action as the other parties may reasonably
request to consummate and make effective the transactions contemplated by this Agreement.

 

6.
Stop Transfer Instructions. At all times commencing with the execution and delivery of this Agreement and continuing until
the Expiration Time, in furtherance of this Agreement, each of the Shareholders hereby authorizes the Company or its counsel to
notify the Company’s transfer agent that there is a stop transfer order with respect to the Series M Preferred Stock (and
that this Agreement places limits on the voting and transfer of the Series M Preferred Stock), subject to the provisions hereof
and provided that any such stop transfer order and notice required by the terms of this Agreement will immediately be withdrawn
and terminated by the Company following the Expiration Time.

 

7.
Miscellaneous.

 

(a)
Notices. All notices and other communications hereunder shall be in writing and shall be deemed given on (i) the date of
delivery, if delivered personally, by electronic transmission, or by commercial delivery service, or (ii) on the date of confirmation
of receipt (or the next business day, if the date of confirmation of receipt is not a business day), if sent via facsimile (with
confirmation of receipt), to the parties hereto at the address set forth for each party on the signature page hereof (or at such
other address for a party as shall be specified by like notice).

 

(b)
Interpretation. When a reference is made in this Agreement to sections or exhibits, such reference shall be to a section
of or an exhibit to this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. The words “include,” “includes”
and “including” when used herein shall be deemed in each case to be followed by the words “without limitation.”
The phrases “the date of this Agreement”, “the date hereof”, and terms of similar import, unless the context
otherwise requires, shall be deemed to refer to the Effective Date. Unless the context of this Agreement otherwise requires: (i)
words of any gender include each other gender; (ii) words using the singular or plural number also include the plural or singular
number, respectively; and (iii) the terms “hereof,” “herein,” “hereunder” and derivative or
similar words refer to this entire Agreement.

 

    	4

    	 

    

 

(c)
Specific Performance; Injunctive Relief. The parties hereto acknowledge that a party will be irreparably harmed and that
there will be no adequate remedy at law for a violation of any of the covenants or agreements of the other party set forth herein
or in the Proxy. Therefore, it is agreed that, in addition to any other remedies that may be available to such party upon any
such violation of this Agreement or the Proxy, such party shall have the right to enforce such covenants and agreements and the
Proxy by specific performance, injunctive relief or any other means available to such party at law or in equity and the other
party hereby waives any and all defenses that could exist in its favor in connection with such enforcement and waives any requirement
for security or the posting of any bond in connection with such enforcement.

 

(d)
Counterparts. This Agreement may be executed in counterparts, all of which shall be considered one and the same instrument
and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties
hereto; it being understood that all parties need not sign the same counterpart. Delivery of an executed counterpart of a signature
page to this Agreement by telecopy or by electronic delivery in Adobe Portable Document Format or other electronic format based
on common standards will be effective as delivery of a manually executed counterpart of this Agreement.

 

(e)
Entire Agreement; Non-assignability; Parties in Interest; Death or Incapacity. This Agreement and the documents and instruments
and other agreements specifically referred to herein or delivered pursuant hereto (including, without limitation, the Proxy) (i)
constitute the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements
and understandings, both written and oral, among the parties with respect to the subject matter hereof and (ii) are not intended
to confer, and shall not be construed as conferring, upon any person other than the parties hereto any rights or remedies hereunder.
Except as provided in Section 1(a), neither this Agreement nor any of the rights, interests, or obligations under this
Agreement may be assigned or delegated, in whole or in part, by operation of law or otherwise, by a party without the prior written
consent of the other parties, and any such assignment or delegation that is not consented to shall be null and void ab initio.
This Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their respective
successors and assigns (including, without limitation, any person to whom any Shares or New Shares are sold, transferred or assigned).
All authority conferred herein shall survive the death, dissolution or incapacity of a party and in the event of a party’s
death, dissolution or incapacity, any obligation of such party hereunder shall be binding upon the heirs, personal representatives,
successors and assigns of such party.

 

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(f)
Severability. In the event that any provision of this Agreement, or the application thereof, becomes or is declared by
a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement shall continue in full
force and effect and the application of such provision to other persons or circumstances shall be interpreted so as reasonably
to effect the intent of the parties hereto. The parties hereto further agree to use their commercially reasonable efforts to replace
such void or unenforceable provision of this Agreement with a valid and enforceable provision that shall achieve, to the extent
possible, the purposes of such void or unenforceable provision.

 

(g)
Remedies Cumulative. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a party
shall be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and
the exercise by a party of any one remedy shall not preclude the exercise of any other remedy.

 

(h)
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without
reference to such state’s principles of conflicts of law. The parties hereto hereby irrevocably submit to the exclusive
jurisdiction of the federal and state courts sitting in Palm Beach County, Florida, in respect of the interpretation and enforcement
of the provisions of this Agreement and of the documents referred to in this Agreement, and in respect of the transactions contemplated
hereby and thereby, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation
or enforcement hereof or thereof, that it is not subject thereto or that such action, suit or proceeding may not be brought or
is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document
may not be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action,
suit or proceeding shall be heard and determined in such courts.

 

(i)
Termination. This Agreement shall terminate and shall have no further force or effect from and after the Expiration Time,
and thereafter there shall be no liability or obligation on the part of either party, provided, that no such termination
shall relieve any party from liability for any willful breach of this Agreement prior to such termination.

 

(j)
Amendment. Any provision of this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing
and signed, in the case of an amendment, by each of the parties hereto, or in the case of a waiver, by the party against which
the waiver is to be effective. Notwithstanding the foregoing, no failure or delay by any party hereto in exercising any right
hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise
of any right hereunder.

 

(k)
Rules of Construction. The parties hereto agree that they have been represented by counsel during the negotiation, preparation
and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction
providing that ambiguities in an agreement or other document shall be construed against the party drafting such agreement or document.

 

(l)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF
ANY PARTY HERETO IN NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

    	6

    	 

    

 

IN
WITNESS WHEREOF, each of the parties has executed this Agreement as of the Effective Date.

 

	 	COMPANY:
	 	 
	 	RENNOVA
    HEALTH, INC.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/ Sebastien
    Sainsbury
	 	Name:	Sebastien
    Sainsbury
	 	Title:	Secretary
	 	Address:	931
    Village Boulevard, Suite 905
	 	 	West
    Palm Beach, Florida 33409
	 	 	 
	 	LAGAN:
    
	 	 	 
	 	/s/ Seamus Lagan
	 	Seamus
    Lagan
	 	Address:	 
	 	 	 
	 	 	 
	 	ALCIMEDE:
	 	 
	 	ALCIMEDE
    LLC, a Delaware limited liability company
	 	 	 
	 	By:	/s/ Seamus
    Lagan
	 	Name:	Seamus
    Lagan
	 	Title:	Sole
    Manager
	 	Address:	 
	 	 	 
	 	 	 
	 	DIAMANTIS:
	 	 	 
	 	/s/ Christopher
    Diamantis
	 	Christopher
    Diamantis
	 	Address:	 
	 	 	 

 

    	7

    	 

    

 

EXHIBIT
A

 

IRREVOCABLE
PROXY

TO VOTE SERIES M CONVERTIBLE PREFERRED STOCK OF

RENNOVA HEALTH, INC.

 

The
undersigned stockholder (“Diamantis”) of Rennova Health, Inc., a Delaware corporation (the “Company”),
hereby irrevocably (to the fullest extent permitted by applicable law) appoints SEAMUS LAGAN, an individual stockholder
of the Company (“Lagan”), as the sole and exclusive attorney and proxy of Diamantis, with full power
of substitution and resubstitution, to vote and exercise all voting and related rights (to the fullest extent that Diamantis is
entitled to do so) with respect to all of the Diamantis Shares, and New Shares (collectively, the “Shares”)
in accordance with the terms of this Irrevocable Proxy and the Voting Agreement. Capitalized terms used but not otherwise defined
in this Irrevocable Proxy shall have the meanings assigned to such terms in the Voting Agreement and Irrevocable Proxy dated on
or about the date hereof among Diamantis, Lagan, Alcimede and the Company.

 

The
Shares beneficially owned by Diamantis as of the date of this Irrevocable Proxy are listed on the final page of this Irrevocable
Proxy. Upon Diamantis’ execution of this Irrevocable Proxy, any and all prior proxies (other than this Irrevocable Proxy)
given by Diamantis with respect to the subject matter contemplated by this Irrevocable Proxy are hereby revoked with respect to
such subject matter and Diamantis agrees not to grant any subsequent proxies with respect to such subject matter or enter into
any agreement or understanding with any person to vote or give instructions with respect to such subject matter in any manner
inconsistent with the terms of this Irrevocable Proxy until after the Expiration Time.

 

Until
the Expiration Time, this Irrevocable Proxy is irrevocable (to the fullest extent permitted by applicable law), is coupled with
an interest sufficient in law to support an irrevocable proxy, is granted pursuant to the Voting Agreement, and is granted in
connection with Diamantis entering into the Exchange Agreement.

 

The
attorneys and proxies named above, and each of them, are hereby authorized and empowered by Diamantis, at any time prior to the
Expiration Time, to act as Diamantis’ attorney and proxy to vote the Shares, and to exercise all voting and other rights
of Diamantis with respect to the Shares (including, without limitation, the power to execute and deliver written consents), at
every annual, special or adjourned meeting of the stockholders of the Company and in every written consent in lieu of such meeting
in such manner as is decided by Lagan in his sole and absolute discretion. Accordingly, until the Expiration Time, Diamantis shall
not vote or attempt to vote any of his respective shares of the Shares, or otherwise exercise or attempt to exercise any consent,
voting or other approval rights of any of his respective shares of the Shares, in contravention of the foregoing, and any such
prohibited exercise by Diamantis of voting or approval rights shall be void and of no force or effect.

 

All
authority herein conferred shall survive the death or incapacity of Diamantis and any obligation of Diamantis hereunder shall
be binding upon the heirs, personal representatives, successors and assigns of Diamantis. The power of attorney granted by Diamantis
herein is a durable power of attorney and shall survive the bankruptcy, death, or incapacity of Diamantis.

 

    	 

    	 

    

 

This
Irrevocable Proxy is coupled with an interest as aforesaid and is irrevocable. This Irrevocable Proxy may not be amended or otherwise
modified without the prior written consent of Lagan and the Company. This Irrevocable Proxy shall terminate, and be of no further
force and effect, automatically upon the Expiration Time.

 

	Dated:
    August 13, 2020	 	 
	 	 	 
	 	 	Christopher
    Diamantis

    Shares beneficially owned on the date hereof: 22,000 shares of Series M Convertible Preferred Stock

 

    	2

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