Document:

Exhibit
10.1

 

EXCHANGE
AGREEMENT

 

This
EXCHANGE AGREEMENT (this “Agreement”) is entered into as of December 27, 2021 by and among KAYA HOLDINGS,
INC., Inc., a Delaware corporation (the “Company”), CRAIG FRANK (“Frank”) and BMN
CONSULTANTS, INC. (“BMN,” and together with Frank, each, a “Holder,” and collectively, the
“Holders”).

 

RECITALS

 

WHEREAS,
the Holders each hold of record 50,000 shares of the Company’s Series C Convertible Preferred Stock (the “Series C Shares”);
and

 

WHEREAS,
the Company owes $588,000 in accrued but unpaid compensation to each Holder (the “Accrued Compensation”); and

 

WHEREAS, the Holders have
each agreed with the Company to (a) waive payment of approximately $338,000 of the Accrued Compensation; (b) defer payment of the $250,000
balance of the Accrued Compensation until January 1,2025; and (c) exchange their Series C Shares for twenty (20) shares of newly designated
Series D Convertible Preferred Stock of the Company (the “Series D Shares”), having the rights, powers, preferences,
restrictions and limitations set forth in the Certificate of Designation attached as Exhibit A hereto (the transactions set forth
in clauses (a), (b) and (c) of this Recital being referred to herein collectively as the “Share Exchange”),
all on the terms and conditions set forth herein.

 

AGREEMENT

 

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

 

1.         Recitals.
Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Agreement are true and accurate, are
contractual in nature, and are hereby incorporated into and made a part of this Agreement.

 

2.       The
Share Exchange. Pursuant to the terms and conditions of this Agreement, the Holders each agree to (a) waive payment of approximately
$338,000 of the Accrued Compensation; (b) defer payment of the $250,000 balance of the Accrued Compensation until January 1, 2025; and
(c) exchange their Series C Shares for twenty (20) Series D Shares. Contemporaneously with the execution of this Agreement, each Holder
shall deliver to the Company the certificates evidencing the Holder’s Series C Shares, together with an executed stock powers or
such other instrument as may be required to cancel the Series C Shares. Upon receipt of the foregoing, the Company shall issue to each
Holder or such Holder’s designee, a certificate in book entry form, evidencing the Holder’s Series D Shares registered in
the name of such Holder or the Holder’s designee. Thereupon, the Share Exchange shall be deemed consummated and the Series C Shares
shall be cancelled.

    	 

    	 

    

 

 

3.       Representations,
Warranties and Agreements.

 

(a)              
Holder Representations, Warranties and Agreements of the Holders. In order to induce the Company to enter into this Agreement,
each Holder, for himself or itself, and for his or its affiliates, designs successors and assigns, hereby acknowledges, represents, warrants
and agrees as follows: (i) The Holder has full power and authority to enter into this Agreement and to incur and perform all obligations
and covenants contained herein, all of which have been duly authorized by all proper and necessary action; (ii) no consent, approval,
filing or registration with or notice to any governmental authority is required as a condition to the validity of this Agreement or the
performance of any of the obligations of the Holder hereunder; and (iii) the Series C Shares are owned by the Holder free and clear of
all taxes, liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and
description.

 

(b)              
Representations Warranties and Agreements of the Company. In order to induce the Holder to enter into this Agreement, the
Company for itself, and for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (i)
the Company has full power and authority to enter into this Agreement and to incur and perform all obligations and covenants contained
herein, all of which have been duly authorized by all proper and necessary action; (ii) no consent, approval, filing or registration with
or notice to any governmental authority is required as a condition to the validity of this Agreement or the performance of any of the
obligations of the Company hereunder; (iii) the Series D Shares, when issued under the terms of this Agreement, will be duly and validly
issued, fully-paid and non-assessable shares of the Company’s capital stock; (v) the Company is acquiring the Series C Shares in
order to return them to its authorized capital (thereby cancelling them) and will, by virtue of this Agreement, exchange them by issuing
the Series D Shares to the Holders.

 

4.       Governing
Law; Venue. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Delaware, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of Delaware.

 

5.       Counterparts.
This Agreement may be executed in any number of counterparts with the same effect as if all signing parties had signed the same document.
All counterparts shall be construed together and constitute the same instrument. The exchange of copies of this Agreement and of signature
pages by facsimile transmission or other electronic transmission (including email) shall constitute effective execution and delivery
of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted
by facsimile transmission or other electronic transmission (including email) shall be deemed to be their original signatures for all
purposes.

 

6.       Attorneys’
Fees. In the event of action at law or in equity to interpret or enforce or interpret the terms of this Agreement, the parties
agree that the party who is awarded the most

    	 

    	 

    

money
shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award of the full amount of attorneys’
fees and costs at both the trial and appellate levels.

 

7.       No
Reliance. Holder acknowledges and agrees that neither the Company nor any of its officers, directors, members, managers, equity
holders, representatives or agents has made any representations or warranties to Holder or any of its agents, representatives, officers,
directors, or employees except as expressly set forth in this Agreement.

 

8.        Severability.
If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve the objective of the
parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.

 

9.        Entire
Agreement. This Agreement supersedes all other prior oral or written agreements between each Holder and the Company with respect
to the subject matter hereof

 

10.     Amendments.
This Agreement may be amended, modified, or supplemented only by written agreement of the parties. No provision of this Agreement may
be waived except in writing signed by the party against whom such waiver is sought to be enforced.

 

11.     Further
Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall execute
and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to
carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

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

 

THE
COMPANY:

 

	KAYA
    HOLDINGS, INC.	 	 
	 	 	 
	 	 	 
	By:  /s/
    Craig Frank	 	 
	Craig
    Frank, Chief Executive Officer	 	 
	 	 	 
	THE
    HOLDERS:	 	 
	 	 	 
	BMN
    CONSULTANTS, INC.	 	 
	 	 	 
	 	 	 
	By:  /s/
    William David Jones	 	/s/
    Craig Frank
	William
    David Jones, President	 	Craig
    Frank, individuallyEX-10.1

 Exhibit 10.1 

AMENDMENT 
 This Amendment
(the Amendment) is made as of 24. December 2021 (the Amendment Effective Date) between 
 Siegfried Evionnaz SA 

Route du Simplon 1, 36, 1902 Evionnaz, Switzerland 

(Siegfried) 
 and, on the other hand 

ITI Limited 
 Clarendon House, 2 Church Street, PO Box HM
666, Hamilton, HM CX, Bermuda 
 (ITI) 

to the Supply Agreement between Siegfried and ITI dated January 4, 2017 (the Agreement) 

The Parties hereby agree as follows: 
  

	1.	 A new section 10.5 shall be added to the end of Section of the Agreement: 

“Notwithstanding the foregoing, after the expiry of the initial term set forth in Section 10.1 of the agreement, the Parties agree
to mutually extend the term of this Agreement for an additional period of one (1) year. This Agreement shall therefore automatically expire on January 4, 2023 and shall not automatically be renewed.” 

 

	2.	 All other terms and conditions of the Agreement shall remain unchanged and in full force and effect.

  

	3.	 This Amendment shall be governed by and construed in accordance with the laws set forth in the Agreement and
shall be signed electronically via DocuSign. 

 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by their
respective authorized representatives, effective as of the Amendment Effective Date. 

									
	Siegfried Evionnaz SA	 		 	ITI Limited
			
	/s/ Signer Marcel	 		 	/s/ Allen Fienberg
	Name:	 	Signer Marcel	 		 	Name:	 	Allen Fienberg
	Title:	 	Site Manager	 		 	Title:	 	VP Business Development
	Date:	 	December 24, 2021	 		 	Date:	 	December 23, 2021
			
	/s/ Luca Parlanti	 		 	/s/ Larry Hineline
	Name:	 	Luca Parlanti	 		 	Name:	 	Larry Hineline
	Title:	 	Head of Exclusive Sales DS	 		 	Title:	 	CFO
	Date:	 	December 24, 2021	 		 	Date:	 	December 23, 2021

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