Document:

Exhibit 10.7

   

  Kernel Group Holdings Inc.

    2 Rousseau Street

    San Francisco, CA 94112

  November 19, 2020

   

  Kernel Capital Holdings, LLC

  2 Rousseau Street

  San Francisco, CA 94112

   

  RE:          Securities Subscription Agreement

   

  Gentlemen:

   

  This agreement (this “Agreement”)
    is entered into on November 19, 2020 by and between Kernel Capital Holdings, LLC, a Delaware limited liability company (the “Subscriber”
    or “you”), and Kernel Group Holdings, Inc., a Cayman Islands exempted company (the “Company”).
    Pursuant to the terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase 5,750,000 Class B ordinary
    shares, $0.0001 par value per share (the “Shares”), up to 750,000 of which are subject to surrender and cancellation
    by you if the underwriters of the initial public offering (“IPO”) of units (“Units”) of the
    Company do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and the
    Subscriber’s agreements regarding such Shares are as follows:

   

  1.      
        Purchase of Securities.

   

  1.1         Purchase
      of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash,
    the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby subscribes for and purchases the Shares from
    the Company, 750,000 of which are subject to surrender and cancellation, on the terms and subject to the conditions set forth
    in this Agreement. All references in this Agreement to shares of the Company being surrendered and canceled shall take effect
    as surrenders and cancellations for no consideration of such shares as a matter of Cayman Islands law.

   

  1.2         Surrender
      of Subscriber Shares. On the issuance of the Shares, the Subscriber hereby surrenders for no consideration the one Class B
    ordinary share, $0.0001 par value that the Subscriber holds in the Company.

   

  2.           Representations,
      Warranties and Agreements.

   

  2.1         Subscriber’s
      Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
    represents and warrants to the Company and agrees with the Company as follows:

   

  2.1.1       No
      Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made
    any recommendation or endorsement of the offering of the Shares.

   

  2.1.2       No
      Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions
    contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the
    Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or
    regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

   

  
  
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  2.1.3       Registration
      and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws
    of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
    Upon execution and delivery by you, this Agreement will be a legal, valid and binding agreement of Subscriber, enforceable against
    Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent
    conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of
    equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

   

  2.1.4       Experience,
      Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks
    and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite
    period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be
    sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is
    capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests.
    Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration
    statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able
    to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment in the
    Shares.

   

  2.1.5       Access
      to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
    to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
    the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
    the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
    own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation
    and the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any
    information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on
    any other representations or information in making its investment decision, whether written or oral, relating to the Company,
    its operations and/or its prospects.

   

  2.1.6       Regulation
      D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
    Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges the sale
    contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within the
    meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under federal and state law.

   

  2.1.7       Investment
      Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
    not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The
    Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
    meaning of Rule 502 of Regulation D under the Securities Act.

   

  
  
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  2.1.8       Restrictions
      on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public
    offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities”
    within the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates representing the
    Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
    or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration
    under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares
    or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver
    to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not
    to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
    to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
    Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
    restrictions.

   

  2.1.9       No
      Governmental Consents. No governmental, administrative or other third party consents or approvals are required or necessary
    on the part of Subscriber in connection with the transactions contemplated by this Agreement.

   

  2.2         Company’s
      Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby represents
    and warrants to the Subscriber and agrees with the Subscriber as follows:

   

  2.2.1       Incorporation
      and Corporate Power. The Company is a Cayman Islands exempted company and is qualified to do business in every jurisdiction
    in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition,
    operating results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry
    out the transactions contemplated by this Agreement. Upon execution and delivery by the Company, this Agreement will be a legal,
    valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as such enforceability
    may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’
    rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law
    or in equity).

   

  2.2.2       No
      Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
    contemplated hereby do not violate, conflict with or constitute a default under (i) the memorandum and articles of association
    of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
    regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

   

  2.2.3       Title
      to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, and registration in the Company’s
    register of members, the Shares will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with,
    and payment pursuant to, the terms hereof, and registration in the Company’s register of members, the Subscriber will have
    or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer
    restrictions hereunder and other agreements to which the Shares may be subject, (b) transfer restrictions under federal and state
    securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the Subscriber.

   

  2.2.4       No
      Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
    which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
    or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection
    with any transactions.

   

  
  
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  3.           Surrender and Cancellation
      of Shares.

   

  3.1         Partial
      or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the representative(s) of the
    underwriters of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it shall surrender
    for cancellation any and all rights to such number of Shares (up to an aggregate of 750,000 Shares and pro rata based upon the
    percentage of the Over-allotment Option exercised) such that immediately following such surrender, the Subscriber (and all other
    initial shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including ordinary shares issuable
    upon exercise of any warrants or any ordinary shares purchased by Subscriber in the Company’s IPO or in the aftermarket)
    equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the IPO.

   

  3.2         Termination
      of Rights as Shareholder. If any of the Shares are surrendered and cancelled in accordance with this Section 3, then after
    such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such Shares, and the Company
    shall take such action as is appropriate to cancel such Shares.

   

  4.           Waiver of Liquidation
      Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber
    hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust
    account which will be established for the benefit of the Company’s public shareholders and into which substantially all
    of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company
    upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event the
    Subscriber purchases ordinary shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to
    receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any ordinary
    shares into funds held in the Trust Account upon the successful completion of an initial business combination.

   

  5.           Restrictions on
      Transfer.

   

  5.1         Securities
      Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
      Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to
    sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration
    statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed
    to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the
    Company, that such registration is not required because such transaction is exempt from registration under the Securities Act
    and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

   

  5.2         Restrictive
      Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

   

  “THE SECURITIES REPRESENTED HEREBY HAVE
    NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
    NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
    STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL,
    IS AVAILABLE.”

   

  
  
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  “THE SECURITIES REPRESENTED BY THIS CERTIFICATE
    ARE SUBJECT TO LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE
    LOCKUP.”

   

  5.3         Additional
      Shares or Substituted Securities. In the event of the declaration of a share capitalization, the declaration of an extraordinary
    dividend payable in a form other than Shares, a spin-off, a share sub-division, an adjustment in conversion ratio, a recapitalization
    or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted
    or additional securities or other property which are by reason of such transaction distributed with respect to any Shares subject
    to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to Section 3 or this Section
    5. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class
    of Shares subject to Section 3 or this Section 5.

   

  5.4         Registration
      Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements
    of the Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to
    a Registration and Shareholder Rights Agreement to be entered into with the Company prior to the closing of the IPO.

   

  6.           Other Agreements.

   

  6.1         Further
      Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary
    to carry out the intent of this Agreement.

   

  6.2         Notices.
    All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered
    personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission
    to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address
    or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail address most
    recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice
    or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the
    business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day
    after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

   

  6.3         Entire
      Agreement. This Agreement, together with that certain Insider Letter to be entered into between Subscriber and the Company,
    substantially in the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s
    IPO, embodies the entire agreement and understanding between the Subscriber and the Company with respect to the subject matter
    hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement,
    representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used
    to interpret, change or restrict, the express terms and provisions of this Agreement.

   

  6.4         Modifications
      and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
    all parties hereto.

   

  
  
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  6.5         Waivers
      and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
    by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
    be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
    or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it
    was given, and shall not constitute a continuing waiver or consent.

   

  6.6         Assignment.
    The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of
    the other party.

   

  6.7         Benefit.
    All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
    and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
    shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
    as a third-party beneficiary of this Agreement.

   

  6.8         Governing
      Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
    by the laws of Delaware applicable to contracts wholly performed within the borders of such state, without giving effect to the
    conflict of law principles thereof.

   

  6.9         Severability.
    In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
    this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
    that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
    such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
    shall nevertheless remain in full force and effect.

   

  6.10       No
      Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
    this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy
    of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment
    or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise
    thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not
    constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly
    required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand
    in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other
    or further action in any circumstances without such notice or demand.

   

  6.11       Survival
      of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
    other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
    and any investigations made by or on behalf of the parties.

   

  6.12       No
      Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
    consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as
    to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim
    or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been
    employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

   

  
  
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  6.13       Headings
      and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only
    and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

   

  6.14       Counterparts.
    This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same
    agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
    understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
    or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or
    on whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

   

  6.15       Construction.
    The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
    intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
    or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement.
    The words “include,” “includes,” and “including” will be deemed to be
    followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to
    include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
    otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
    “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision
    unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will
    have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in
    any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
    of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that
    such party hereto is in breach of the first representation, warranty, or covenant.

   

  6.16       Mutual
      Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject
    to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

   

  7.           Voting and Redemption
      of Shares. Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates and
    submits for approval to the Company’s shareholders and shall not seek redemption or repurchase with respect to such Shares.
    Additionally, the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the Company’s
    shareholders in connection with an initial business combination negotiated by the Company.

   

  [Signature Page Follows]

   

  
  
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  If the foregoing accurately
    sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

   

  

  

  	 	Very truly yours,
	 	 
	 	Kernel Group Holdings, Inc.
	 	 	 
	 	By:	/s/ Rakesh Tondon
	 	 	Name:	Rakesh Tondon
	 	 	Title:	Chief Financial Officer

   

  

  

  Accepted and agreed as of the date first written
    above.

   

  	Kernel Capital Holdings, LLC	 
	 	 	 
	By:	/s/ Rakesh Tondon	 
	 	Name: 	Rakesh Tondon	 
	 	Title:	Chief Financial Officerflcx_ex105.htm

EXHIBIT 10.5
  
 LOAN AGREEMENT AND PROMISSORY NOTE
  
 THIS LOAN AGREEMENT AND PROMISSORY NOTE (the “Note”), is made this 5th day of October, 2020, by and between MICHAEL HELLER (hereinafter, known as “LENDER”) and FLOOIDCX CORP., a Nevada corporation (hereinafter, known as “BORROWER”).  BORROWER and LENDER shall collectively be known herein as “the Parties”.  In determining the rights and duties of the Parties under this Loan Agreement, the entire document must be read as a whole.
  
 PROMISSORY NOTE
  
 FOR VALUE RECEIVED, BORROWER promises to repay to the order of LENDER, the sum of Two Hundred Fifty Thousand dollars (CA$250,000.00) pursuant to the terms set forth herein, CA$50,000.00 having been advanced on June 21, 2020 and CA$200,000.00 having been advanced on September 28, 2020.
  
 ADDITIONAL LOAN TERMS
  
 The BORROWER and LENDER, hereby further set forth their rights and obligations to one another under this Loan Agreement and Promissory Note and agree to be legal bound as follows:
  
 A. Principal Loan Amount $CA250,000.00
  
 B. Loan Repayment Terms.
  
 Principal to be repaid in one payment due November 25, 2020. 
  
 C. Additional Consideration.
  
 In lieu of any interest and late payment penalties due on the principal amount due under this Note, BORROWER agrees to issue to LENDER 1,500,000 shares BORROWER’S common stock. LENDER understands that these shares have not been registered and are considered to be “restricted securities” under Rule 144 of the Securities Act of 1933. 
  
 D. Method of Loan Payment.
  
 BORROWER shall make all payments called for under this loan agreement by sending check or other negotiable instrument made payable to the following individual or entity at the address indicated:
  
 Michael Heller
 334 Grant Crescent
 Waterloo, ON N2K 2A2
  
 If LENDER gives written notice to BORROWER that a different address shall be used for making payments under this loan agreement, BORROWER shall use the new address so given by LENDER.
  
 	 
	1
	

	 

 
  
 E. Default.
  
 The occurrence of any of the following events shall constitute a Default by BORROWER of the terms of this Loan Agreement and Promissory Note:
  
 	  
	 ·
	BORROWER’S failure to pay any amount due as principal or interest on the date required under this Loan Agreement.
	  
	  
	  

	  
	 ·
	BORROWER seeks an order of relief under the Federal Bankruptcy laws.
	  
	  
	  

	  
	 ·
	A federal tax lien is filed against the assets of BORROWER.

 
  
 F. Notice of Default.
  
 Upon default, LENDER shall give BORROWER written notice of default. Mailing of written notice by LENDER to BORROWER via U.S. Postal Service Certified Mail shall constitute prima facie evidence of delivery. BORROWER shall have 15 days after receipt of written notice of default from LENDER to cure said default. In the case of default due solely to BORROWER’S failure to make timely payment as called for in this Loan Agreement, BORROWER may cure the default by making full payment of any principal and accrued interest (including interest on these amounts) whose payment to LENDER is overdue under the Loan Agreement and, also, the late-payment penalty described below. 
  
 G. Pledge of Shares. 
  
 Richard Hue agrees to pledge 50,000,000 shares of common stock of the Company owned by him as collateral for the payment of this Note. 
  
 H. Parties That Are Not Individuals.
  
 If any Party to this agreement is other than an individual (i.e., a corporation, a limited liability company, a partnership, or a trust), said Party, and the individual signing on behalf of said Party, hereby represents and warrants that all steps and actions have been taken under the entity’s governing instruments to authorize the entry into this Loan Agreement. Breach of any representation contained in this paragraph is considered a material breach of the Loan Agreement.
  
 I. Integration.
  
 This Agreement, including the attachments mentioned in the body as incorporated by reference, sets forth the entire agreement between the Parties with regard to the subject matter hereof. All prior agreements, representations and warranties, express or implied, oral or written, with respect to the subject matter hereof, are superseded by this agreement. This is an integrated agreement.
  
 J. Severability.
  
 In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement. All remaining provisions of this Agreement shall then continue in full force and effect. If any provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the scope and breadth permitted by law.
  
 K. Modification.
  
 Except as otherwise provided in this document, this agreement may be modified, superseded, or voided only upon the written and signed agreement of the Parties. Further, the physical destruction or loss of this document shall not be construed as a modification or termination of the agreement contained herein. 
  
 	 
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 IN WITNESS WHEREOF and acknowledging acceptance and agreement of the foregoing, BORROWER and LENDER affix their signatures hereto.
  
  
 	 BORROWER: 
   
 FLOOIDCX CORP. 
	 	LENDER	 
	  
	 	 	 	 
	 By: 
	/s/ Richard Hue	 	/s/ Michael Heller  	 
	  
	Richard Hue, President    	 	Michael Heller	 
	  
	 	 	 
	 Agreement as to Paragraph G:
	  
	  
	  

	  
	  
	  
	  
	  

	 /s/ Richard Hue
	 		 
	 Richard Hue
	  
	  
	  

 
  
 
 	 
	3

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