Document:

Exhibit 10.6

 

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE   SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.  

 

Right to Purchase 300,000 shares of Common Stock of

 FICAAR, INC. (subject to adjustment as provided herein)

No. _001 

 

Issue Date: July 22, 2021           

 

COMMON STOCK PURCHASE WARRANT

 

THIS CERTIFIES THAT, for value received, BOOT CAPITAL LLC., a Delaware limited liability company, or its registered assigns, is entitled to purchase from FICAAR, INC., a Georgia corporation (the “Company”), at any time or from time to time during the period specified in Paragraph 2 hereof, 300,000 fully paid and nonassessable shares of the Company’s Common Stock, 0.001 par value per share (the “Common Stock”), at an exercise price per share equal to $0.55 (the “Exercise Price”). The term “Warrant Shares,” as used herein, refers to the shares of Common Stock purchasable hereunder. The Warrant Shares and the Exercise Price are subject to adjustment as provided in Paragraph 5 hereof. The term “Warrants” means this Warrant and the other warrants issued pursuant to that certain Securities Purchase Agreement, dated the date hereof, by and among the Company and the Buyer listed on the execution page thereof (the “Securities Purchase Agreement”). 

 

This Warrant is subject to the following terms, provisions, and conditions: 

 

1.        Manner of Exercise; Issuance
of Certificates; Payment for Shares. Subject to the provisions hereof, this Warrant may be exercised by the holder hereof, in whole
or in part, by the surrender of this Warrant, together with a completed exercise agreement in the form attached hereto (the “Exercise
Agreement”), to the Company during normal business hours on any business day at the Company’s principal executive offices
(or such other office or agency of the Company as it may designate by notice to the holder hereof), and upon payment to the Company in
cash, by certified or official bank check or by wire transfer for the account of the Company of the Exercise Price for the Warrant Shares
specified in the Exercise Agreement. The Warrant Shares so purchased shall be deemed to be issued to the holder hereof or such holder’s
designee, as the record owner of such shares, as of the close of business on the date on which this Warrant shall have been surrendered,
the completed Exercise Agreement shall have been delivered, and payment shall have been made for such shares as set forth above. Certificates
for the Warrant Shares so purchased, representing the aggregate number of shares specified in the Exercise Agreement, shall be delivered
to the holder hereof within a reasonable time, not exceeding three (3) business days, after this Warrant shall have been so exercised.
The certificates so delivered shall be in such denominations as may be requested by the holder hereof and shall be registered in the
name of such holder or such other name as shall be designated by such holder. If this Warrant shall have been  exercised only in 
part, then, unless this Warrant has expired, the Company shall, at its expense, at the time of delivery of such certificates, deliver
to the holder a new Warrant representing the number of shares with respect to which this Warrant shall not then have been exercised.
In addition to all other available remedies at law or in equity, if the Company fails to deliver certificates for the Warrant Shares
within three (3) business days after this Warrant is exercised, then the Company shall pay to the holder in cash a penalty (the “Penalty”)
equal to 2% of the number of Warrant Shares that the holder is entitled to multiplied by the Market Price (as hereinafter defined) for
each day that the Company fails to deliver certificates for the Warrant Shares.

 

2.        Period of Exercise.
Notwithstanding anything contained herein to the contrary, this Warrant is exercisable at any time or from time to time on or after the
date which is one hundred eighty (180) days after the date of this Warrant and before 6:00 p.m., New York, New York time on the second
(2nd) anniversary of the date of issuance (the “Exercise Period”).

 

 

 

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3.        Certain Agreements of
the Company. The Company hereby covenants and agrees as follows:

 

(a)        Shares to be Fully Paid. All Warrant Shares will, upon issuance in
accordance with the terms of this Warrant, be validly issued, fully paid, and nonassessable and free from all taxes, liens, and charges
with respect to the issue thereof.

 

(b)        Reservation of Shares. During the Exercise Period, the Company shall
at all times have authorized, and reserved for the purpose of issuance upon exercise of this Warrant, a suf ficient number of shares
of Common Stock to provide for the exercise of this Warrant.

 

(c)        Certain Actions Prohibited. The Company will not, by amendment of
its charter or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities, or any
other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed by it hereunder,
but will at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all such action
as may reasonably be requested by the holder of this Warrant in order to protect the exercise privilege of the holder of this Warrant
against dilution or other impairment, consistent with the tenor and purpose of this Warrant. Without limiting the generality of the foregoing,
the Company (i) will not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the
Exercise Price then in effect, and (ii) will take all such actions as may be necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant.

 

(d)          Successors
and Assigns. This Warrant will be binding upon any entity succeeding to the Company by merger, consolidation, or acquisition of all or
substantially all the Company’s assets.

 

4.        Fair
Market Value. Fair Market Value of a share of Common Stock as of a particular date (the “Determination Date”) shall mean:

 

(a)        If the Company's Common Stock is traded on an exchange
or is quoted on the NASDAQ or the New York Stock Exchange, then the average of the lowest three (3) closing bid prices for the Common
Stock during the ten (10) trading day period ending one trading day prior to the Determination Date;

 

(b)        If the Company's Common Stock is not traded on
an exchange or on the NASDAQ or the New York Stock Exchange, but is traded on the OTC Bulletin Board or in the over-the-counter market
or Pink Sheets, then the average of the lowest three (3) closing bid prices for the Common Stock during the ten (10) trading day period
ending one trading day prior to the Determination Date;

 

(c)        Except as provided in clause (d) below, if the
Company's Common Stock is not publicly traded, then as the Holder and the Company agree, or in the absence of such an agreement, by arbitration
in accordance with the rules then standing of the American Arbitration Association, before a single arbitrator to be chosen from a panel
of persons qualified by education and training to pass on the matter to be decided; or

 

(d)        If the Determination Date is the date of a liquidation,
dissolution or winding up, or any event deemed to be a liquidation, dissolution or winding up pursuant to the Company's charter, then
all amounts to be payable per share to holders of the Common Stock pursuant to the charter in the event of such liquidation, dissolution
or winding up, plus all other amounts to be payable per share in respect of the Common Stock in liquidation under the charter, assuming
for the purposes of this clause (d) that all of the shares of Common Stock then issuable upon exercise of all of the Warrants are outstanding
at the Determination Date. 

 

5.      Anti-dilution
Provisions. During the Exercise Period, the Exercise Price and the number of Warrant Shares shall be subject to adjustment from time
to time as provided in this Paragraph 5.

 

In the event that any adjustment
of the Exercise Price as required herein results in a fraction of a cent, such Exercise Price shall be rounded up to the nearest cent.

 

 

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(a) Adjustment of Exercise Price and Number of Shares
upon Issuance of Common Stock. Except as otherwise provided in Paragraphs 5(c) and 5(e) hereof, if and whenever on or after the date
of issuance of this Warrant, the Company issues or sells, or in accordance with Paragraph 5(b) hereof is deemed to have issued or sold,
any shares of Common Stock for no consideration or for a consideration per share (before deduction of reasonable expenses or commissions
or underwriting discounts or allowances in connection therewith) less than the Market Price on the date of issuance (a “Dilutive
Issuance”), then immediately upon the Dilutive Issuance, the Exercise Price will be reduced to a price determined by multiplying
the Exercise Price in effect immediately prior to the Dilutive Issuance by a fraction, (i) the numerator of which is an amount equal
to the sum of (x) the number of shares of Common Stock actually outstanding immediately prior to the Dilutive Issuance, plus (y) the
quotient of the aggregate consideration, calculated as set forth in Paragraph 5(b) hereof, received by the Company upon such Dilutive
Issuance divided by the Market Price in effect immediately prior to the Dilutive Issuance, and (ii) the denominator of which is the total
number of shares of Common Stock Deemed Outstanding (as defined below) immediately after the Dilutive Issuance.

 

(b) Effect on Exercise Price of Certain Events.
For purposes of determining the adjusted Exercise Price under Paragraph 5(a) hereof, the following will be applicable:

 

(i) Issuance of Rights or Options. If the
Company in any manner issues or grants any warrants, rights or options, whether or not immediately exercisable, to subscribe for or to
purchase Common Stock or other securities convertible into or exchangeable for Common Stock (“Convertible Securities”) (such
warrants, rights and options to purchase Common Stock or Convertible Securities are hereinafter referred to as “Options”)
and the price per share for which Common Stock is issuable upon the exercise of such Options is less than the Market Price on the date
of issuance or grant of such Options, then the maximum total number of shares of Common Stock issuable upon the exercise of all such
Options will, as of the date of the issuance or grant of such Options, be deemed to be outstanding and to have been issued and sold by
the Company for such price per share. For purposes of the preceding sentence, the “price per share for which Common Stock is issuable
upon the exercise of such Options” is determined by dividing (i) the total amount, if any, received or receivable by the Company
as consideration for the issuance or granting of all such Options, plus the minimum aggregate amount of additional consideration, if
any, payable to the Company upon the exercise of all such Options, plus, in the case of Convertible Securities issuable upon the exercise
of such Options, the minimum aggregate amount of additional consideration payable upon the conversion or exchange thereof at the time
such Convertible Securities first become convertible or exchangeable, by (ii) the maximum total number of shares of Common Stock issuable
upon the exercise of all such Options (assuming full conversion of Convertible Securities, if applicable). No further adjustment to the
Exercise Price will be made upon the actual issuance of such Common Stock upon the exercise of such Options or upon the conversion or
exchange of Convertible Securities issuable upon exercise of such Options.

 

(ii) Issuance of Convertible Securities. If
the Company in any manner issues or sells any Convertible Securities, whether or not immediately convertible (other than where the same
are issuable upon the exercise of Options) and the price per share for which Common Stock is issuable upon such conversion or exchange
is less than the Market Price on the date of issuance, then the maximum total number of shares of Common Stock issuable upon the conversion
or exchange of all such Convertible Securities will, as of the date of the issuance of such Convertible Securities, be deemed to be outstanding
and to have been issued and sold by the Company for such price per share. For the purposes of the preceding sentence, the “price
per share for which Common Stock is issuable upon such conversion or exchange” is determined by dividing (i) the total amount,
if any, received or receivable by the Company as consideration for the issuance or sale of all such Convertible Securities, plus the
minimum aggregate amount of additional consideration, if any, payable to the Company upon the conversion or exchange thereof at the time
such Convertible Securities first become convertible or exchangeable, by (ii) the maximum total number of shares of Common Stock issuable
upon the conversion or exchange of all such Convertible Securities. No further adjustment to the Exercise Price will be made upon the
actual issuance of such Common Stock upon conversion or exchange of such Convertible Securities.

 

(iii) Change in Option Price or Conversion Rate.
If there is a change at any time in (i) the amount of additional consideration payable to the Company upon the exercise of any Options;
(ii) the amount of additional consideration, if any, payable to the Company upon the conversion or exchange of any Convertible Securities;
or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock (other than under or by reason
of provisions designed to protect against dilution), the Exercise Price in effect at the time of such change will be readjusted to the
Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for
such changed additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold.

 

 

 

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(iv) Treatment of Expired Options and Unexercised
Convertible Securities. If, in any case, the total number of shares of Common Stock issuable upon exercise of any Option or upon
conversion or exchange of any Convertible Securities is not, in fact, issued and the rights to exercise such Option or to convert or
exchange such Convertible Securities shall have expired or terminated, the Exercise Price then in effect will be readjusted to the Exercise
Price which would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, to the
extent outstanding immediately prior to such expiration or termination (other than in respect of the actual number of shares of Common
Stock issued upon exercise or conversion thereof), never been issued.

 

(v) Calculation of Consideration Received.
If any Common Stock, Options or Convertible Securities are issued, granted or sold for cash, the consideration received therefor for
purposes of this Warrant will be the amount received by the Company therefor, before deduction of reasonable commissions, underwriting
discounts or allowances or other reasonable expenses paid or incurred by the Company in connection with such issuance, grant or sale.
In case any Common Stock, Options or Convertible Securities are issued or sold for a consideration part or all of which shall be other
than cash, the amount of the consideration other than cash received by the Company will be the fair value of such consideration, except
where such consideration consists of securities, in which case the amount of consideration received by the Company will be the Market
Price thereof as of the date of receipt. In case any Common Stock, Options or Convertible Securities are issued in connection with any
acquisition, merger or consolidation in which the Company is the surviving corporation, the amount of consideration therefor will be
deemed to be the fair value of such portion of the net assets and business of the non-surviving corporation as is attributable to such
Common Stock, Options or Convertible Securities, as the case may be. The fair value of any consideration other than cash or securities
will be determined in good faith by the Board of Directors of the Company.

 

(vi) Exceptions to Adjustments of Exercise.
No adjustment to the Exercise Price will be made (i) upon the exercise of any warrants, options or convertible securities granted, issued
and outstanding on the date of issuance of this Warrant; (ii) upon the grant or exercise of any stock or options which may hereafter
be granted or exercised to officers, directors, employees, consultants, vendors and other service providers of the Company, so long as
the issuance of such stock or options is approved by a majority of the independent members of the Board of Directors of the Company or
a majority of the members of a committee of independent directors established for such purpose; or (iii) upon the exercise of the Warrants.

 

(c)         Subdivision
or Combination of Common Stock. If the Company at any time subdivides (by any stock split, stock dividend, recapitalization, reorganization,
reclassification or otherwise) the shares of Common Stock acquirable hereunder into a greater number of shares, then, after the date
of record for effecting such subdivision, the Exercise Price in effect immediately prior to such subdivision will be proportionately
reduced. If the Company at any time combines (by reverse stock split, recapitalization, reorganization, reclassification or otherwise)
the shares of Common Stock acquirable hereunder into a smaller number of shares, then, after the date of record for effecting such combination,
the Exercise Price in effect immediately prior to such combination will be proportionately increased.

 

(d)        Adjustment
in Number of Shares. Upon each adjustment of the Exercise Price pursuant to the provisions of this Paragraph 5, the number of shares
of Common Stock issuable upon exercise of this Warrant shall be adjusted by multiplying a number equal to the Exercise Price in effect
immediately prior to such adjustment by the number of shares of Common Stock issuable upon exercise of this Warrant immediately prior
to such adjustment and dividing the product so obtained by the adjusted Exercise Price.

 

(e) Consolidation, Merger, or Sale. In case
of any consolidation of the Company with, or merger of the Company into any other corporation, or in case of any sale or conveyance of
all or substantially all of the assets of the Company other than in connection with a plan of complete liquidation of the Company, then
as a condition of such consolidation, merger or sale or conveyance, adequate provision will be made whereby the holder of this Warrant
will have the right to acquire and receive upon exercise of this Warrant in lieu of the shares of Common Stock immediately theretofore
acquirable upon the exercise of this Warrant, such shares of stock, securities or assets as may be issued or payable with respect to
or in exchange for the number of shares of Common Stock immediately theretofore acquirable and receivable upon exercise of this Warrant
had such consolidation, merger or sale or conveyance not taken place. In any such case, the Company will make appropriate provision to
insure that the provisions of this Paragraph 5 hereof will thereafter be applicable as nearly as may be in relation to any shares of
stock or securities thereafter deliverable upon the exercise of this Warrant. The Company will not effect any consolidation, merger or
sale or conveyance unless prior to the consummation thereof, the successor corporation (if other than the Company) assumes by written
instrument the obligations under this Paragraph 5 and the obligations to deliver to the holder of this Warrant such shares of stock,
securities or assets as, in accordance with the foregoing provisions, the holder may be entitled to acquire.

 

 

 

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(f) Distribution of Assets. In case the Company
shall declare or make any distribution of its assets (including cash) to holders of Common Stock as a partial liquidating dividend, by
way of return of capital or otherwise, then, after the date of record for determining shareholders entitled to such distribution, but
prior to the date of distribution, the holder of this Warrant shall be entitled upon exercise of this Warrant for the purchase of any
or all of the shares of Common Stock subject hereto, to receive the amount of such assets which would have been payable to the holder
had such holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such
distribution.  

 

(g) Upon the occurrence of any event which requires
any adjustment of the Exercise Price, then, and in each such case, the Company shall give notice thereof to the holder of this Warrant,
which notice shall state the Exercise Price resulting from such adjustment and the increase or decrease in the number of Warrant Shares
purchasable at such price upon exercise, setting forth in reasonable detail the method of calculation and the facts upon which such calculation
is based. Such calculation shall be certified by the Chief Financial Officer of the Company.

 

(h) No Fractional Shares. No fractional shares
of Common Stock are to be issued upon the exercise of this Warrant, but the Company shall pay a cash adjustment in respect of any fractional
share which would otherwise be issuable in an amount equal to the same fraction of the Market Price of a share of Common Stock on the
date of such exercise.

 

(i) Other Notices. In case at any time:

 

(i) the Company shall declare any dividend upon the
Common Stock payable in shares of stock of any class or make any other distribution (including dividends or distributions payable in
cash out of retained earnings) to the holders of the Common Stock;

 

(ii) the Company shall offer for subscription pro
rata to the holders of the Common Stock any additional shares of stock of any class or other rights;

 

(iii) there shall be any capital reorganization of
the Company, or reclassification of the Common Stock, or consolidation or merger of the Company with or into, or sale of all or substantially
all its assets to, another corporation or entity; or

 

(iv)        there shall be a voluntary or involuntary
dissolution, liquidation or winding up of the Company; then, in each such case, the Company shall give to the holder of this Warrant
(a) notice of the date on which the books of the Company shall close or a record shall be taken for determining the holders of Common
Stock entitled to receive any such dividend, distribution, or subscription rights or for determining the holders of Common Stock entitled
to vote in respect of any such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding-up
and (b) in the case of any such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding-up,
notice of the date (or, if not then known, a reasonable approximation thereof by the Company) when the same shall take place. Such notice
shall also specify the date on which the holders of Common Stock shall be entitled to receive such dividend, distribution, or subscription
rights or to exchange their Common Stock for stock or other securities or property deliverable upon such reorganization, reclassification,
consolidation, merger, sale, dissolution, liquidation, or winding-up, as the case may be.   Such notice shall be given at least
30 days prior to the record date or the date on which the Company’s books are closed in respect thereto. Failure to give any such
notice or any defect therein shall not affect the validity of the proceedings referred to in clauses (i), (ii), (iii) and (iv) above.

 

(j) Certain Events. If any event occurs of the type
contemplated by the adjustment provisions of this Paragraph 5 but not expressly provided for by such provisions, the Company will give
notice of such event as provided in Paragraph 5(g) hereof, and the Company’s Board of Directors will make an appropriate adjustment
in the Exercise Price and the number of shares of Common Stock acquirable upon exercise of this Warrant so that the rights of the holder
shall be neither enhanced nor diminished by such event.

 

(k) Certain Definitions.

 

(i) “Common Stock Deemed Outstanding”
shall mean the number of shares of Common Stock actually outstanding (not including shares of Common Stock held in the treasury of the
Company), plus (x) pursuant to Paragraph 5(b)(i) hereof, the maximum total number of shares of Common Stock issuable upon the exercise
of Options, as of the date of such issuance or grant of such Options, if any, and (y) pursuant to Paragraph 5(b)(ii) hereof, the maximum
total number of shares of Common Stock issuable upon conversion or exchange of Convertible Securities, as of the date of issuance of
such Convertible Securities, if any.

 

 

 

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(ii) “Common Stock,” for purposes of
this Paragraph 5, includes the Common Stock and any additional class of stock of the Company having no preference as to dividends or
distributions on liquidation, provided that the shares purchasable pursuant to this Warrant shall include only shares of Common Stock
in respect of which this Warrant is exercisable, or shares resulting from any subdivision or combination of such Common Stock, or in
the case of any reorganization, reclassification, consolidation, merger, or sale of the character referred to in Paragraph 5(e) hereof,
the stock or other securities or property provided for in such Paragraph. 

 

6.        Redemption. At any
time prior to the Exercise Period, at the option of the Company, the Company may redeem this Warrant for a redemption price equal to
the number of Warrant Shares multiplied by the exercise price (each as may be adjusted herein) multiplied by 135%. The Warrant may not
be redeemed in part. If the Company shall elect to redeem warrants as permitted by this Section 6, notice of redemption shall be given
to the holders of all outstanding warrants to whom the redemption shall apply by mailing, by regular first class or certified mail or
by recognized courier service, a notice of such redemption, accompanied by payment in full therefor by check or wire at the rate herein
provided. The redemption payment must be received by the Holder prior to the Exercise Period.

 

7.        Issue
Tax. The issuance of certificates for Warrant Shares upon the exercise of this Warrant shall be made without charge to the holder
of this Warrant or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall not be required
to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other
than the holder of this Warrant.

 

8.       
No Rights or Liabilities as a Shareholder. This Warrant shall not entitle the holder hereof to any voting rights or other rights
as a shareholder of the Company. No provision of this Warrant, in the absence of affirmative action by the holder hereof to purchase
Warrant Shares, and no mere enumeration herein of the rights or privileges of the holder hereof, shall give rise to any liability of
such holder for the Exercise Price or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors
of the Company.  

 

9.       Transfer, Exchange, and
Replacement of Warrant.

 

(a)        This Warrant and the rights granted to the holder hereof are transferable,
in whole or in part, upon surrender of this Warrant, together with a properly executed assignment in the form attached hereto, at the
office or agency of the Company referred to in Paragraph 9(e) below, provided, however, that any transfer or assignment shall be subject
to the conditions set forth in Paragraph 9(f) hereof and to the applicable provisions of the Securities Purchase Agreement. Until due
presentment for registration of transfer on the books of the Company, the Company may treat the registered holder hereof as the owner
and holder hereof for all purposes, and the Company shall not be affected by any notice to the contrary. 

 

(b)       Warrant
Exchangeable for Different Denominations. This Warrant is exchangeable, upon the surrender hereof by the holder hereof at the office
or agency of the Company referred to in Paragraph 9(e) below, for new Warrants of like tenor representing in the aggregate the right
to purchase the number of shares of Common Stock which may be purchased hereunder, each of such new Warrants to represent the right to
purchase such number of shares as shall be designated by the holder hereof at the time of such surrender.

 

(c)        Replacement
of Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or mutilation of this
Warrant and, in the case of any such loss, theft, or destruction, upon delivery of an indemnity agreement reasonably satisfactory in
form and amount to the Company, or, in the case of any such mutilation, upon surrender and cancellation of this Warrant, the Company,
at its expense, will execute and deliver, in lieu thereof, a new Warrant of like tenor.

 

(d)        Cancellation;
Payment of Expenses. Upon the surrender of this Warrant in connection with any transfer, exchange, or replacement as provided in
this Paragraph 9, this Warrant shall be promptly canceled by the Company. The Company shall pay all taxes (other than securities transfer
taxes) and all other expenses (other than legal expenses, if any, incurred by the holder or transferees) and charges payable in connection
with the preparation, execution, and delivery of Warrants pursuant to this Paragraph 9. 

 

 

 

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(e)       Register.
The Company shall maintain, at its principal executive offices (or such other office or agency of the Company as it may designate by
notice to the holder hereof), a register for this Warrant, in which the Company shall record the name and address of the person in whose
name this Warrant has been issued, as well as the name and address of each transferee and each prior owner of this Warrant.

 

(f)       Exercise
or Transfer Without Registration. If, at the time of the surrender of this Warrant in connection with any exercise, transfer, or
exchange of this Warrant, this Warrant (or, in the case of any exercise, the Warrant Shares issuable hereunder), shall not be registered
under the Securities Act of 1933, as amended (the “Securities Act”) and under applicable state securities or blue sky laws,
the Company may require, as a condition of allowing such exercise, transfer, or exchange, (i) that the holder or transferee of this Warrant,
as the case may be, furnish to the Company a written opinion of counsel, which opinion and counsel are acceptable to the Company, to
the effect that such exercise, transfer, or exchange may be made without registration under said Securities Act and under applicable
state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an investment letter in form
and substance acceptable to the Company and (iii) that the transferee be an “accredited investor” as defined in Rule 501(a)
promulgated under the Securities Act; provided that no such opinion, letter or status as an “accredited investor” shall be
required in connection with a transfer pursuant to Rule 144 under the Securities Act. The first holder of this Warrant, by taking and
holding the same, represents to the Company that such holder is acquiring this Warrant for investment and not with a view to the distribution
thereof.

 

10.       Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery,
telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written
notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated
below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following
such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on
the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur. The addresses for such communications shall be: 

 

If to the Company, to:

FICAAR, INC.

257 Varet Brooklyn, New York 11206

Attn: Gail Levy, Chief Executive Officer

glevy@hfactorwater.com 

 

 

If to the Holder: 

 

BOOT CAPITAL LLC

1688 Meridian Ave. Suite 723

Miami Beach, FL 33139

Attn: Peter Rosten, President

rosten peter rost_nyc@yahoo.com 

 

11.       Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Florida without regard to principles
of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Warrant shall
be brought only in the state courts of Florida or in the federal courts located in the state of Florida and county of Dade. The parties
to this Warrant hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Company and Holder waive trial by jury. The
prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and costs. In the event that any provision
of this Warrant or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule
of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to
conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process
and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other Transaction Document
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law. 

 

 

 

    	 	7	 

     

    

 

12. Miscellaneous.

 

(a)       
Amendments. This Warrant and any provision hereof may only be amended by an instrument in writing signed by the Company and the
holder hereof.

 

(b)       Descriptive
Headings. The descriptive headings of the several paragraphs of this Warrant are inserted for purposes of reference only, and shall
not affect the meaning or construction of any of the provisions hereof.

 

(c)       Cashless
Exercise. Notwithstanding anything to the contrary contained in this Warrant, this Warrant may be exercised by presentation and surrender
of this Warrant to the Company at its principal executive offices with a written notice of the holder’s intention to effect a cashless
exercise, including a calculation of the number of shares of Common Stock to be issued upon such exercise in accordance with the terms
hereof (a “Cashless Exercise”). In the event of a Cashless Exercise, in lieu of paying the Exercise Price in cash, the holder
shall surrender this Warrant for that number of shares of Common Stock determined by multiplying the number of Warrant Shares to which
it would otherwise be entitled by a fraction, the numerator of which shall be the difference between the then current Market Price per
share of the Common Stock and the Exercise Price, and the denominator of which shall be the then current Market Price per share of Common
Stock. For example, if the holder is exercising 100,000 Warrants with a per Warrant exercise price of $0.75 per share through a cashless
exercise when the Common Stock’s current Market Price per share is $2.00 per share, then upon such Cashless Exercise the holder
will receive 62,500 shares of Common Stock.

 

(d)       Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the holder, by vitiating
the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a
breach of its obligations under this Warrant will be inadequate and agrees, in the event of a breach or threatened breach by the
Company of the provisions of this Warrant, that the holder shall be entitled, in addition to all other available remedies at law or
in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Warrant and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss
and without any bond or other security being required. 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

 

 

 

    	 	8	 

     

    

 

IN WITNESS WHEREOF, the Company has executed this Warrant as of the date
first written above. 

 

FICAAR, INC.

 

 

By: /s/ Gail Levy

       Gail Levy, Chief Executive Officer 

 

 

 

 

    	 	9EX-10.1

 Exhibit 10.1 

SEVERANCE AND TRANSITION AGREEMENT 

This SEVERANCE AND TRANSITION AGREEMENT (this “Agreement”) is made and entered into as of August 9, 2021 (the “Effective
Date”) by and between Graham Corporation (the “Company”) and James R. Lines (the “Executive”). The Company and the Executive are collectively referred to herein as the “Parties.” 

WHEREAS, the Company and the Executive are parties to that certain Employment Agreement dated
August 1, 2006, as amended by that certain Amendment to Employment Agreement dated December 31, 2008 (such Employment Agreement, as amended, is referred to herein as the “Employment Agreement”); and 

WHEREAS, the Executive is currently employed as the Company’s Chief Executive Officer; and 

WHEREAS, the Executive wishes to voluntarily resign from his employment with the Company effective
August 31, 2021, and the Company wishes to accept the Executive’s resignation and provide severance benefits to the Executive in recognition of his service to the Company; and 

WHEREAS, the Company anticipates that it will hire a Chief Executive Officer to perform the duties
currently performed by the Executive, beginning on or about the close of business on August 31, 2021; and 

WHEREAS, the Parties recognize the importance of the Executive’s cooperation and assistance in
facilitating the transfer of his knowledge and expertise to the new Chief Executive Officer in order to ensure a smooth transition; and 

WHEREAS, in order to effectuate this resignation and transition, the Company and the Executive wish to
enter into this Agreement which sets forth the terms that will govern the Executive’s resignation from the Company, the transition of his duties, and the post-employment obligations between and among the Parties. 

NOW, THEREFORE, in consideration of the foregoing promises and the mutual covenants contained herein, the
Parties agree as follows: 
 1.    Voluntary Resignation. The Executive shall and does resign from his employment
with, and his membership on any Boards or committees of, the Company effective the close of business on August 31, 2021 (the “Separation Date”). If not terminated earlier pursuant to the terms of the Employment Agreement, the Company
shall accept the Executive’s resignation as of the Separation Date. 
 2.    Employment Agreement. If not
terminated earlier pursuant to the terms and conditions of the Employment Agreement, the Employment Agreement shall remain in full force and effect through the Separation Date. If not terminated earlier pursuant to the terms of the Employment
Agreement, the Executive’s employment with the Company and the Employment Agreement shall terminate on the Separation Date. Notwithstanding the foregoing, this Agreement does not supersede the portions of any agreement or understanding with the
Company applicable 

 
to the Executive’s conduct after the termination of Executive’s employment, including but not limited to the covenants of Executive contained in Section 10 of the Employment
Agreement, which shall survive termination of the Employment Agreement and are incorporated herein by reference. For purposes of Section 10 of the Employment Agreement, the Executive acknowledges and agrees that his resignation is for reasons
other than a material breach of the Employment Agreement by the Company and that Executive’s compliance with the terms of Section 10 of the Employment Agreement following his termination of employment with the Company is a material
inducement for the Company to enter into this Agreement and provide the severance benefits described below.    The Executive acknowledges and agrees that he has and will receive good and valuable consideration in return for his
post-termination covenants. In addition, Section 11 of the Employment Agreement entitled “Indemnification of Executive” shall survive termination of the Employment Agreement and is incorporated herein by reference. 

3.    Future Cooperation. From the Effective Date of this Agreement through the Separation Date, the Executive
shall do whatever is reasonably necessary to assure an orderly transition of his knowledge, expertise, work and responsibilities to the Company’s succeeding Chief Executive Officer, and to fully cooperate with these efforts. From the Separation
Date through the end of the eighteen (18) month period following the Separation Date, the Executive shall, upon reasonable request of the Company, further cooperate with the transition of his knowledge, expertise, work and responsibilities,
which may include promptly answering Company inquiries via email or telephone, and may also include brief visits to the Company to assist in the transition of his duties. The Parties agree that the time spent by the Executive on such transition
assistance required by this Agreement after the Separation Date: is intended to be de minimis; shall not cause the Executive to be employed by the Company; and shall not entitle the Executive to compensation from the Company. 

4.    Employee Benefits. If not terminated earlier pursuant to the terms and conditions of the Employment
Agreement, the Executive’s employee benefits, including his enrollment in any the Company-provided health insurance or retirement benefits, shall terminate on the Separation Date. If applicable, the Executive shall receive by separate
cover information regarding his rights to both health insurance continuation and his retirement benefits, if any. To the extent that the Executive has such rights, nothing in this Agreement shall impair those rights. 

5.    Severance Benefits. Provided that the Executive: continues his employment through the Separation Date;
complies with the terms and conditions set forth in the Employment Agreement, including but not limiting to complying with the covenants of the Executive contained in Section 10 of the Employment Agreement; and Executive executes (and does not
revoke) a Waiver and General Release acceptable to the Company on or after his final day of employment with the Company; the Company shall provide the Executive with the severance benefits described below, which includes compensation and benefits to
which he is not otherwise entitled. 
 a.    The Company shall pay the Executive a severance pay benefit in the gross
amount equivalent to eighteen (18) months of the Executive’s current base salary, less applicable deductions and withholdings. This severance benefit will be paid in accordance with the Company’s regular payroll schedule and
practices, commencing on or around the first regular pay period after the Separation Date. If the Executive dies prior to his receipt of the full payment required by this subparagraph, the Company will pay or provide the unpaid balance to the
Executive’s surviving spouse (or, if that is not possible, to his estate). 

  
 2 

 b.    Provided that the Executive timely elects continuation health
insurance coverage under COBRA, for the eighteen (18) month period following the Separation Date, the Company shall pay the entire amount of the Executive’s monthly health premiums, subject to the following terms and conditions. The
Executive agrees and acknowledges that his continued participation in such benefits is conditioned upon the continued availability of such coverage and is subject to any changes that may be made to such coverage by the Company or applicable
insurance companies. The Executive also agrees and acknowledges that the Company is only obligated to make premium payments for continuation of the same types and levels of coverage that the Executive had as of the Separation Date. If (i) the
Executive obtains health insurance coverage from a subsequent employer; (ii) the Executive discontinues COBRA continuation coverage; (iii) the Executive dies; and/or (iv) the coverage is cancelled at any point during the eighteen
(18) month period, the Company shall have no further obligations under this subsection. 
 c.    The Executive
acknowledges that he may not execute and deliver the Waiver and General Release at any time before his employment with the Company ends. In the event that he does so, such execution shall be null and void and the Company may require the Executive to
sign a valid Waiver and General Release thereafter as a condition precedent to his receipt of the severance benefits described in this Paragraph 5. 

d.    Upon signing this Agreement, the Executive acknowledges and agrees that the severance benefits set forth in this
Paragraph 5 are provided instead of and in lieu of any benefits the Executive would be eligible to receive under the Employment Agreement or any plan or policy provided to the Company’s employees regarding severance pay or benefits. In the
event that the Executive makes a claim for benefits under the Employment Agreement or any such severance plan or policy, the Executive expressly agrees that his entitlement to such pay or benefits, if any, shall be reduced by the value of the pay
and benefits provided in this Paragraph 5. The Executive further acknowledges and agrees that, in the absence of this Agreement, he is not entitled to the severance pay and benefits set forth in this Paragraph 5. 

6.    Company Property. The Executive agrees that upon his separation from employment with the Company he shall
return to the Company any and all documents (and all copies thereof) and other property belonging to the Company that he has in his possession or control, with the exception of any property that the Company specifically authorizes him in writing to
retain. The Parties agree to confer in good faith in advance of the Separation Date to jointly identify and list any property of the Company that Executive is authorized to retain. The documents and property to be returned by the Executive include,
but are not limited to, all files, correspondence, e-mail, memoranda, notes, notebooks, drawings, records, plans, forecasts, reports, studies, analyses, compilations of data, proposals, agreements, financial
information, research and development information, customer information, marketing information, operational and personnel information, specifications, code, software, databases, computer-recorded information, tangible property and equipment
(including, but not limited to, facsimile machines, mobile telephones, laptops, and servers), credit cards, entry cards, identification badges and keys, as well as any materials of any kind which contain or embody any proprietary or confidential
information of the Company or its subsidiaries or affiliates (and all reproductions thereof in whole 

  
 3 

 
or in part). The Executive agrees to make a diligent search to locate any such documents, property and information. If the Executive has used any personally-owned computer, server, or e-mail system to receive, store, review, prepare or transmit any Company confidential or proprietary data, materials or information, then no later than the Separation Date, the Executive shall provide the Company
with a computer-useable copy of all such information, and then permanently delete and expunge such confidential or proprietary information from those systems. 

7.    Confidentiality. The terms of this Agreement, and the severance pay and benefits being provided under it, are
confidential and may not be disclosed by the Executive except that he may disclose this information to his spouse, attorney, accountant, or other professional advisor to whom he must make the disclosure in order for them to render professional
services to him. The Executive agrees to instruct them, however, to maintain the confidentiality of this information just as he must. 

8.    Remedies. In the event of a breach or threatened breach by the Executive of this Agreement, the Waiver and
General Release, the covenants contained in Section 10 of the Employment Agreement, or any other agreement or understanding with the Company applicable to the Executive’s conduct after the termination of Executive’s employment, the
Company may immediately stop payment of any unpaid severance pay and COBRA continuation insurance premium amounts otherwise due to the Executive until and unless such breach or threatened breach is cured by the Executive to the Company’s
satisfaction. In the event that any dispute, controversy or claim arises between the Parties out of or in connection with this Agreement (or the Waiver and General Release) and is decided by a court of competent jurisdiction or other binding
authority, the prevailing party in such dispute, controversy or claim, shall be entitled to recover from the other party its reasonable attorneys’ fees, costs and expenses incurred in its defense or prosecution of such dispute, controversy or
claim (including temporary or permanent injunctive relief), in addition to any award of damages. 
 9.    No
Admission of Liability. The Executive agrees that neither any payment under this Agreement, nor any term or condition of it, shall be construed by either the Executive or the Company, at any time, as an admission of liability or wrongdoing by
the Company. 
 10.    Force Majeure. Neither party shall be liable for any delay in performance or
non-performance in whole or in part to the extent caused by circumstances beyond the reasonable control of the party affected, including, without limitation, natural disaster, intervention by any governmental authority, pandemic, epidemic, labor
strikes or shortages or inability to secure transportation services. 
 11.    Assignment. This Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. The Executive may not assign this Agreement or any interest herein, in whole or in part, without the prior written consent of the
Company, and if any such assignment is made without such consent, this Agreement shall be voidable at the sole discretion of the Company upon such assignment. 

12.    Governing Law and Legal Proceedings. This Agreement shall be governed by and construed under the laws or the
State of New York, without regard to the conflict of law principles thereof. Any action or proceeding brought by either party against the other arising out of or related to the Agreement shall be brought only in a state court of competent
jurisdiction 

  
 4 

 
located in the County of Monroe, State of New York or the Federal District Court for the Western District of New York located in Monroe County, New York. The Executive hereby irrevocably consents
to the personal jurisdiction of those courts and irrevocably waives any claim that such a forum is improper or inconvenient. If any provision of this Agreement should be deemed unenforceable, the remaining provisions shall, to the extent possible,
be carried into effect, taking into account the general purpose and intent of this Agreement. 
 13.    Binding
Nature. The rights and benefits of the Company under this Agreement shall be transferable to, or enforceable by or against, the Company’s successors and assigns. The Executive agrees that this Agreement also binds all persons who
might assert a legal right or claim on his behalf, such as his heirs, personal representatives, and assigns, now and in the future. 

14.    Counterparts. This Agreement may be signed by the parties in counterparts, each of which shall be
deemed to be an original, but all of which together shall constitute one and the same instrument. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a
portable document format (.pdf) file of an executed signature page, such signature page 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. 
 15.    Scope of Agreement. The Executive agrees that no promise,
inducement, or other agreement not expressly contained or referred to in this Agreement has been made conferring any benefit upon him, and that this Agreement and the Employment Agreement constitute the sole and entire agreement of the Parties, and
supersede all prior agreements and understandings between the Company and the Executive, and cannot be modified or changed by any oral or verbal promise or statement. 

16.    Voluntary Agreement. The Executive agrees that he is voluntarily signing this Agreement, that he has not
been pressured into agreeing to its terms and that he had enough information to decide whether to sign it. If, for any reason, the Executive believes that this Agreement is not entirely voluntary, or if he believes that he does not have enough
information, then he should not sign this Agreement. 
 17.    Attorney Consultation. The Executive is advised to
consult with an attorney of his choice before signing this Agreement. By signing this Agreement, the Executive acknowledges that he has had an opportunity to do so and has done so. 

[remainder of page intentionally omitted 

signature page follows] 

  
 5 

 IN WITNESS WHEREOF, the Company and the Executive, intending to be bound by the terms and
conditions hereof, have duly executed this Agreement as of the Effective Date. 
  

					
	GRAHAM CORPORATION
		
	By:	 	 /s/ Jeffrey Glajch

		 	Name:	  	Jeffrey F. Glajch
		 	Title:	  	Vice President - Finance & Administration, Chief Financial Officer and Corporate Secretary
		
	By:	 	 /s/ James R. Lines

		 	Name:	  	James R. Lines

  
 6

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