Document:

Exhibit 10.2

 

FORM OF

GUARANTY
AGREEMENT

 

This
GUARANTY AGREEMENT is dated as of September 11, 2015 (as amended, restated or modified from time to time, the “Guaranty”),
and is made by _________________________, a corporation incorporated under the
laws of the State of _______(the “Guarantor”), in favor of TCA GLOBAL CREDIT MASTER FUND, LP, a limited partnership
organized and existing under the laws of the Cayman Islands (the “Buyer”).

 

WHEREAS,
pursuant to a Securities Purchase Agreement dated of even date herewith (the “Purchase Agreement”) by and between
Medytox Solutions, Inc., a corporation incorporated under the laws of the State of Nevada (the “Company”),
and the Buyer, the Company has agreed to issue to the Buyer and the Buyer has agreed to purchase from Company certain senior secured,
redeemable debentures (the “Debentures”), as more specifically set forth in the Purchase Agreement; and

 

WHEREAS,
in order to induce Buyer to purchase the Debentures, and with full knowledge that Buyer would not purchase the Debentures without
this Guaranty, Guarantor has agreed to execute and deliver this Guaranty to Buyer, for the benefit of Buyer, as security for the
Liabilities and Obligations;

 

WHEREAS,
Guarantor is a subsidiary of the Company and will significantly benefit from Buyer’s purchase of the Debentures from the
Company; and

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements of the parties hereinafter set forth and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties each intending to be legally bound, hereby
do agree as follows:

 

1.              
LIABILITIES GUARANTEED

 

Guarantor
hereby guarantees and becomes surety to Buyer for the full, prompt and unconditional payment of the Liabilities and payment and
performance of the Obligations, when and as the same shall become due, whether at the stated maturity date, by acceleration or
otherwise, and the full, prompt and unconditional performance of each term and condition to be performed by Company under the
Debentures and the other Transaction Documents. This Guaranty is a primary obligation of Guarantor and shall be a continuing inexhaustible
Guaranty. This is a guaranty of payment and not of collection. Buyer may require Guarantor to pay and perform its liabilities
and obligations under this Guaranty and may proceed immediately against Guarantor without being required to bring any proceeding
or take any action against Company or any other Person prior thereto; the liability of Guarantor hereunder being independent of
and separate from the liability of Company, any other guarantor, any other Person, and the availability of other collateral security
for the Debentures and the other Transaction Documents.

 

 

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2.              
DEFINITIONS

 

All
capitalized terms used in this Guaranty that are defined in the Purchase Agreement shall have the meanings assigned to them in
the Purchase Agreement, unless the context of this Guaranty requires otherwise.

 

3.              
REPRESENTATIONS AND WARRANTIES. Guarantor represents and warrants to Buyer as follows:

 

3.1.         
Organization, Powers. Guarantor: (i) is a corporation incorporated under the laws of the State of Florida; (ii)
has the power and authority to own its properties and assets and to carry on its business as now being conducted and as now contemplated;
and (iii) has the power and authority to execute, deliver and perform (and the officer or manager executing this Guaranty on behalf
of Guarantor has been duly authorized to so act and execute this Guaranty on behalf of the Guarantor), and by all necessary action
has authorized the execution, delivery and performance of, all of its obligations under this Guaranty and any other Transaction
Documents to which it is a party.

 

3.2.         
Execution of Guaranty. This Guaranty, and each other Transaction Document to which Guarantor is a party, have been
duly executed and delivered by Guarantor. Execution, delivery and performance of this Guaranty and each other Transaction Document
to which Guarantor is a party will not: (i) violate any provision of any law, rule or regulation, any judgment, order, writ, decree
or other instrument of any governmental authority, or any provision of any contract or other instrument to which Guarantor is
a party or by which Guarantor or any of its properties or assets are bound; (ii) result in the creation or imposition of any lien,
claim or encumbrance of any nature, other than the liens created by the Transaction Documents; and (iii) require any consent from,
exemption of, or filing or registration with, any governmental authority or any other Person, other than any filings in connection
with the liens created by the Transaction Documents.

 

3.3.         
Obligations of Guarantor. This Guaranty and each other Transaction Document to which Guarantor is a party are the
legal, valid and binding obligations of Guarantor, enforceable against Guarantor in accordance with their terms, except as the
same may be limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’
rights generally or by equitable principles which may affect the availability of specific performance and other equitable remedies.
The purchase of the Debenture by Buyer and the assumption by Guarantor of its obligations hereunder and under any other Transaction
Document to which Guarantor is a party will result in material benefits to Guarantor. This Guaranty was entered into by Guarantor
for commercial purposes.

 

3.4.         
Litigation. There is no demand, claim, suit, action, litigation, investigation, audit, study, arbitration, administrative
hearing, or any other proceeding of any nature whatsoever at law or in equity or by or before any governmental authority now pending
or, to the knowledge of Guarantor, threatened, against or affecting Guarantor or any of its properties, assets or rights which,
if adversely determined, would materially impair or affect: (i) the value of any collateral securing the Liabilities; (ii) Guarantor’s
right to carry on its business substantially as now conducted (and as now contemplated); (iii) Guarantor’s financial condition;
or (iv) Guarantor’s capacity to consummate and perform its obligations under this Guaranty or any other Transaction Document
to which Guarantor is a party.

 

 

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3.5.         
No Defaults. Guarantor is not in default beyond the expiration of any applicable grace or cure periods, in the performance,
observance or fulfillment of any of the obligations, covenants or conditions contained herein or in any contract or other instrument
to which Guarantor is a party or by which Guarantor or any of its properties or assets are bound.

 

3.6.         
No Untrue Statements. To the knowledge of Guarantor, no Transaction Document or other document, certificate or statement
furnished to Buyer by or on behalf of Company or Guarantor contains any untrue statement of a material fact or omits to state
a material fact necessary in order to make the statements contained herein and therein not misleading. Guarantor acknowledges
that all such statements, representations and warranties shall be deemed to have been relied upon by Buyer as an inducement to
purchase the Debentures.

 

4.              
NO LIMITATION OF LIABILITY

 

4.1.         
Guarantor acknowledges that the obligations undertaken herein involve the guaranty of obligations of a Person other than
Guarantor and, in full recognition of that fact, Guarantor consents and agrees that Buyer may, at any time and from time to time,
without notice or demand, and without affecting the enforceability or continuing effectiveness of this Guaranty: (i) change the
manner, place or terms of payment of (including, without limitation, any increase or decrease in the principal amount of the Liabilities
or the interest rate), and/or change or extend the time for payment of, or renew, supplement or modify, any of the Liabilities,
any security therefor, or any of the Transaction Documents evidencing same, and the Guaranty herein made shall apply to the Liabilities
and the Transaction Documents as so changed, extended, renewed, supplemented or modified; (ii) sell, exchange, release, surrender,
realize upon or otherwise deal with in any manner and in any order, any property securing the Liabilities; (iii) supplement, modify,
amend or waive, or enter into or give any agreement, approval, waiver or consent with respect to, any of the Liabilities, or any
part thereof, or any of the Transaction Documents, or any additional security or guaranties, or any condition, covenant, default,
remedy, right, representation or term thereof or thereunder; (iv) exercise or refrain from exercising any rights against Company
or other Persons (including Guarantor) or against any security for the Liabilities; (v) accept new or additional instruments,
documents or agreements in exchange for or relative to any of the Transaction Documents or the Liabilities, or any part thereof;
(vi) accept partial payments on the Liabilities; (vii) receive and hold additional security or guaranties for the Liabilities,
or any part thereof; (viii) release, reconvey, terminate, waive, abandon, fail to perfect, subordinate, exchange, substitute,
transfer and/or enforce any security or guaranties, and apply any security and direct the order or manner of sale thereof as Buyer,
in its sole and absolute discretion, may determine; (ix) add, release, settle, modify or discharge the obligation of any maker,
endorser, guarantor, surety, obligor or any other Person who is in any way obligated for any of the Liabilities, or any part thereof;
(x) settle or compromise any Liabilities, whether in a Proceeding or not, and whether voluntarily or involuntarily, dispose of
any security therefor (with or without consideration and in whatever manner Buyer deems appropriate), and subordinate the payment
of any of the Liabilities, whether or not due, to the payment of liabilities owing to creditors of Company other than Buyer and
Guarantor; (xi) consent to the merger, change or any other restructuring or termination of the corporate existence of Company
or any other Person, and correspondingly restructure the Liabilities, and any such merger, change, restructuring or termination
shall not affect the liability of Guarantor or the continuing effectiveness hereof, or the enforceability hereof with respect
to all or any part of the Liabilities; (xii) apply any sums it receives, by whomever paid or however realized, to any of the Liabilities
and/or (xiii) take any other action which might constitute a defense available to, or a discharge of, Company or any other Person
(including Guarantor) in respect of the Liabilities.

 

 

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4.2.         
The invalidity, irregularity or unenforceability of all or any part of the Liabilities or any Transaction Document, or
the impairment or loss of any security therefor, whether caused by any action or inaction of Buyer, or otherwise, shall not affect,
impair or be a defense to Guarantor’s obligations under this Guaranty.

 

4.3.         
Upon the occurrence and during the continuance of any Event of Default, Buyer may enforce this Guaranty independently of
any other remedy, guaranty or security Buyer at any time may have or hold in connection with the Liabilities, and it shall not
be necessary for Buyer to marshal assets in favor of Company, any other guarantor of the Liabilities or any other Person or to
proceed upon or against and/or exhaust any security or remedy before proceeding to enforce this Guaranty. Guarantor expressly
waives any right to require Buyer to marshal assets in favor of Company or any other Person, or to proceed against Company or
any other guarantor of the Liabilities or any collateral provided by any Person, and agrees that Buyer may proceed against any
obligor (including Guarantor) and/or the collateral in such order as Buyer shall determine in its sole and absolute discretion.
Buyer may file a separate action or actions against Guarantor, whether action is brought or prosecuted with respect to any security
or against any other Person, or whether any other Person is joined in any such action or actions. Guarantor agrees that Buyer
and Company may deal with each other in connection with the Liabilities or otherwise, or alter any contracts or agreements now
or hereafter existing between them, in any manner whatsoever, all without in any way altering or affecting the security of this
Guaranty.

 

4.4.         
Guarantor expressly waives, to the fullest extent permitted by applicable law, any and all defenses which Guarantor shall
or may have as of the date hereof arising or asserted by reason of: (i) any disability or other defense of Company, or any other
guarantor for the Liabilities, with respect to the Liabilities; (ii) the unenforceability or invalidity of any security for or
guaranty of the Liabilities or the lack of perfection or continuing perfection or failure of priority of any security for the
Liabilities; (iii) the cessation for any cause whatsoever of the liability of Company, or any other guarantor of the Liabilities
(other than by reason of the full payment and performance of all Liabilities (other than contingent indemnification obligations));
(iv) any failure of Buyer to marshal assets in favor of Company or any other Person; (v) any failure of Buyer to give notice of
sale or other disposition of collateral to Company or any other Person or any defect in any notice that may be given in connection
with any sale or disposition of collateral; (vi) any failure of Buyer to comply with applicable laws in connection with the sale
or other disposition of any collateral or other security for any Liabilities, including, without limitation, any failure of Buyer
to conduct a commercially reasonable sale or other disposition of any collateral or other security for any Liabilities; (vii)
any act or omission of Buyer or others that directly or indirectly results in or aids the discharge or release of Company or any
other guarantor of the Liabilities, or of any security or guaranty therefor by operation of law or otherwise; (viii) any law which
provides that the obligation of a surety or guarantor must neither be larger in amount or in other respects more burdensome than
that of the principal or which reduces a surety’s or guarantor’s obligation in proportion to the principal obligation;
(ix) any failure of Buyer to file or enforce a claim in any bankruptcy or other proceeding with respect to any Person; (x) the
election by Buyer, in any bankruptcy proceeding of any Person, of the application or non-application of Section 1111(b)(2) of
the United States Bankruptcy Code; (xi) any extension of credit or the grant of any lien under Section 364 of the United States
Bankruptcy Code; (xii) any use of collateral under Section 363 of the United States Bankruptcy Code; (xiii) any agreement or stipulation
with respect to the provision of adequate protection in any bankruptcy proceeding of any Person; (xiv) the avoidance of any lien
or security interest in favor of Buyer for any reason; (xv) any bankruptcy, insolvency, reorganization, arrangement, readjustment
of debt, liquidation or dissolution proceeding commenced by or against any Person, including without limitation any discharge
of, or bar or stay against collecting, all or any of the Liabilities (or any interest thereon) in or as a result of any such proceeding;
or (xvi) any action taken by Buyer that is authorized by this Section or any other provision of any Transaction Document. Guarantor
expressly waives all setoffs and counterclaims and all presentments, demands for payment or performance, notices of nonpayment
or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever
with respect to the Liabilities, and all notices of acceptance of this Guaranty or of the existence, creation or incurrence of
new or additional Liabilities.

 

 

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4.5.         
This is a continuing guaranty and shall remain in full force and effect as to all of the Liabilities until such date as
all amounts owing by Company to Buyer shall have been paid in full in cash and all obligations of Company with respect to any
of the Liabilities shall have terminated or expired (other than contingent indemnification obligations) (such date is referred
to herein as the “Termination Date”).

 

5.              
LIMITATION ON SUBROGATION

 

Until the Termination
Date, Guarantor waives any present or future right to which Guarantor is or may become entitled to be subrogated to Buyer’s
rights against Company or to seek contribution, reimbursement, indemnification, payment or the like, or participation in any claim,
right or remedy of Buyer against Company or any security which Buyer now has or hereafter acquires, whether or not such claim,
right or remedy arises under contract, in equity, by statute, under common law or otherwise. If, notwithstanding such waiver,
any funds or property shall be paid or transferred to Guarantor on account of such subrogation, contribution, reimbursement, or
indemnification at any time when all of the Liabilities have not been paid in full, Guarantor shall hold such funds or property
in trust for Buyer and shall forthwith pay over to Buyer such funds and/or property to be applied by Buyer to the Liabilities.

 

6.              
COVENANTS

 

6.1.         
Financial Statements; Compliance Certificate. No later than ten (10) days after written request therefore from Buyer,
Guarantor shall deliver to Buyer: (a) financial statements disclosing all of Guarantor’s assets, liabilities, net worth,
income and contingent liabilities, all in reasonable detail and in form acceptable to Buyer, signed by Guarantor, and certified
by Guarantor to Buyer to be true, correct and complete in all material respects; (b) complete copies of federal tax returns, including
all schedules, each of which shall be signed and certified by Guarantor to be true and complete copies of such returns; and (c)
such other information respecting the Guarantor as Buyer may from time to time reasonably request.

 

6.2.         
Subordination of Other Debts. Guarantor hereby: (a) subordinates the obligations now or hereafter owed by Company
to Guarantor (“Subordinated Debt”) to any and all obligations of Company to Buyer now or hereafter existing
while this Guaranty is in effect, and hereby agrees that Guarantor will not request or accept payment of or any security for any
part of the Subordinated Debt, and any proceeds of the Subordinated Debt paid to Guarantor, through error or otherwise, shall
immediately be forwarded to Buyer by Guarantor, properly endorsed to the order of Buyer, to apply to the Liabilities.

 

6.3.         
Security for Guaranty. All of Guarantor’s obligations and liability evidenced by this Guaranty is also secured
by all of the Collateral of the Guarantor pursuant to that certain Security Agreement by and between the Guarantor and Buyer made
of even date herewith (the “Security Agreement”). All of the agreements, conditions, covenants, provisions,
representations, warranties and stipulations contained in the Security Agreement or any other Transaction Documents to which Guarantor
is a party which are to be kept and performed by the Guarantor are hereby made a part of this Guaranty to the same extent and
with the same force and effect as if they were fully set forth herein, and the Guarantor covenants and agrees to keep and perform
them, or cause them to be kept or performed, strictly in accordance with their terms.

 

7.              
EVENTS OF DEFAULT

 

Each of the
Events of Default in the Purchase Agreement shall constitute an Event of Default hereunder.

 

 

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8.              
REMEDIES.

 

8.1.         
Upon an Event of Default, as provided in the Purchase Agreement, all liabilities and obligations of Guarantor hereunder
shall become immediately due and payable without demand or notice and, in addition to any other remedies provided by law or in
equity, Buyer may:

 

8.1.1.    
Enforce the obligations of Guarantor under this Guaranty.

 

8.1.2.    
To the extent not prohibited by and in addition to any other remedy provided by law or equity, setoff against any of the
Liabilities any sum owed by Buyer in any capacity to Guarantor whether due or not.

 

8.1.3.    
Perform any covenant or agreement of Guarantor in default hereunder (but without obligation to do so) and in that regard
pay such money as may be required or as Buyer may reasonably deem expedient. Any costs, expenses or fees, including reasonable
attorneys’ fees and costs, incurred by Buyer in connection with the foregoing shall be included in the Liabilities guaranteed
hereby, and shall be due and payable on demand, together with interest at the highest non-usurious rate permitted by applicable
law, such interest to be calculated from the date of such advance to the date of repayment thereof. Any such action by Buyer shall
not be deemed to be a waiver or release of Guarantor hereunder and shall be without prejudice to any other right or remedy of
Buyer.

 

8.2.         
Settlement of any claim by Buyer against Company, whether in any Proceeding or not, and whether voluntary or involuntary,
shall not reduce the amount due under the terms of this Guaranty, except to the extent of the amount actually paid by Company
or any other obligated Person and legally retained by Buyer in connection with the settlement (unless otherwise provided for herein).

 

9.              
MISCELLANEOUS.

 

9.1.         
Disclosure of Financial Information. Buyer is hereby authorized to disclose any financial or other information about
Guarantor to any governmental authority having jurisdiction over Buyer or to any present, future or prospective participant or
successor in interest in the Debentures. The information provided may include, without limitation, amounts, terms, balances, payment
history, return item history and any financial or other information about Guarantor.

 

9.2.         
Remedies Cumulative. The rights and remedies of Buyer, as provided herein and in any other Transaction Document,
shall be cumulative and concurrent, may be pursued separately, successively or together, may be exercised as often as occasion
therefor shall arise, and shall be in addition to any other rights or remedies conferred upon Buyer at law or in equity. The failure,
at any one or more times, of Buyer to exercise any such right or remedy shall in no event be construed as a waiver or release
thereof. Buyer shall have the right to take any action it deems appropriate without the necessity of resorting to any collateral
securing this Guaranty.

 

9.3.         
Integration. This Guaranty and the other Transaction Documents constitute the sole agreement of the parties with
respect to the transactions contemplated hereby and thereby and supersede all oral negotiations and prior writings with respect
thereto.

 

 

 

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9.4.         
Attorneys’ Fees and Expenses. If Buyer retains the services of counsel by reason of a claim of an Event of
Default hereunder or under any of the other Transaction Documents, or on account of any matter involving this Guaranty, or for
examination of matters subject to Buyer’s approval under the Transaction Documents, all costs of suit and all reasonable
attorneys’ fees and such other reasonable expenses so incurred by Buyer shall forthwith, on demand, become due and payable
and shall be secured hereby.

 

9.5.         
No Implied Waiver. Buyer shall not be deemed to have modified or waived any of its rights or remedies hereunder
unless such modification or waiver is in writing and signed by Buyer, and then only to the extent specifically set forth therein.
A waiver in one event shall not be construed as continuing or as a waiver of or bar to such right or remedy on a subsequent event.

 

9.6.         
Waiver. Except as otherwise provided herein or in any of the Transaction Documents, Guarantor waives notice of acceptance
of this Guaranty and notice of the Liabilities and waives notice of default, non-payment, partial payment, presentment, demand,
protest, notice of protest or dishonor, and all other notices to which Guarantor might otherwise be entitled or which might be
required by law to be given by Buyer. Guarantor waives the right to any stay of execution and the benefit of all exemption laws,
to the extent permitted by law, and any other protection granted by law to guarantors, now or hereafter in effect with respect
to any action or proceeding brought by Buyer against it. Guarantor irrevocably waives all claims of waiver, release, surrender,
alteration or compromise and the right to assert against Buyer any defenses, set-offs, counterclaims, or claims that Guarantor
may have at any time against Company or any other party liable to Buyer.

 

9.7.         
No Third Party Beneficiary. Except as otherwise provided herein, Guarantor and Buyer do not intend the benefits
of this Guaranty to inure to any third party and no third party (including Company) shall have any status, right or entitlement
under this Guaranty.

 

9.8.         
Partial Invalidity. The invalidity or unenforceability of any one or more provisions of this Guaranty shall not
render any other provision invalid or unenforceable. In lieu of any invalid or unenforceable provision, there shall be added automatically
a valid and enforceable provision as similar in terms to such invalid or unenforceable provision as may be possible.

 

9.9.         
Binding Effect. The covenants, conditions, waivers, releases and agreements contained in this Guaranty shall bind,
and the benefits thereof shall inure to, the parties hereto and their respective heirs, executors, administrators, successors
and permitted assigns; provided, however, that this Guaranty cannot be assigned by Guarantor without the prior written consent
of Buyer, and any such assignment or attempted assignment by Guarantor shall be void and of no effect with respect to the Buyer.

 

9.10.      
Modifications. This Guaranty may not be supplemented, extended, modified or terminated except by an agreement in
writing signed by the party against whom enforcement of any waiver, change, modification or discharge is sought.

 

9.11.      
Sales or Participations. Buyer may from time to time sell or assign the Debentures, in whole or in part, or grant
participations in the Debentures and/or the obligations evidenced thereby without the consent of Company or Guarantor (other than
as provided in the Purchase Agreement), provided, however, Buyer shall provide written notice to Company and Guarantor of any
such assignment or grant of participations. The holder of any such sale, assignment or participation, if the applicable agreement
between Buyer and such holder so provides, shall be: (a) entitled to all of the rights, obligations and benefits of Buyer (to
the extent of such holder’s interest or participation); and (b) deemed to hold and may exercise the rights of setoff or
banker’s lien with respect to any and all obligations of such holder to Guarantor (to the extent of such holder’s
interest or participation), in each case as fully as though Guarantor was directly indebted to such holder. Buyer may in its discretion
give notice to Guarantor of such sale, assignment or participation; however, the failure to give such notice shall not affect
any of Buyer’s or such holder’s rights hereunder.

 

 

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9.12.      
MANDATORY FORUM SELECTION. Any dispute arising under, relating to, or in
connection with the Agreement or related to any matter which is the subject of or incidental to the Agreement (whether or not
such claim is based upon breach of contract or tort) shall be subject to the exclusive jurisdiction and venue of the state and/or
federal courts located in Broward County, Florida. This provision is intended to be a “mandatory” forum selection
clause and governed by and interpreted consistent with Florida law.

 

9.13.      
 Notices. Any notices, consents, waivers, or other communications required or permitted to be given under the terms
of this Guaranty must be in writing and in each case properly addressed to the party to receive the same in accordance with the
information below, and will be deemed to have been delivered: (i) if mailed by certified mail, return receipt requested, postage
prepaid and properly addressed to the address below, then three (3) business days after deposit of same in a regularly maintained
U.S. Mail receptacle; or (ii) if mailed by Federal Express, UPS or other nationally recognized overnight courier service, next
business morning delivery, then one (1) business day after deposit of same in a regularly maintained receptacle of such overnight
courier; or (iii) if hand delivered, then upon hand delivery thereof to the address indicated on or prior to 5:00 p.m., EST, on
a Business Day. Any notice hand delivered after 5:00 p.m., EST, shall be deemed delivered on the following Business Day. Notwithstanding
the foregoing, notice, consents, waivers or other communications referred to in this Guaranty may be sent by facsimile, e-mail,
or other method of delivery, but shall be deemed to have been delivered only when the sending party has confirmed (by reply e-mail
or some other form of written confirmation) that the notice has been received by the other party. The addresses and facsimile
numbers for such communications shall be as set forth below, unless such address or information is changed by a notice conforming
to the requirements hereof. No notice to or demand on the Guarantor in any case shall entitle the Guarantor to any other or further
notice or demand in similar or other circumstances:

 

	 	If to the Guarantor:	 	400 South Australian Ave., 8th Floor
	 	 	 	West Palm Beach, FL 33401
	 	 	 	Attention:  Jace Simmons
	 	 	 	E-Mail: jsimmons@medytoxsolutionsinc.com
	 	 	 	 
	 	With a copy to:	 	Akerman LLP 
	 	(which shall not constitute notice)	 	One Southeast Third Avenue 
	 	 	 	Miami, FL 33131 
	 	 	 	Attention: Dean M. Freitag, Esq. 
	 	 	 	E-Mail:  dean.freitag@akerman.com 
	 	 	 	 
	 	If to the Buyer:	 	TCA Global Credit Master Fund, LP 
	 	  	 	3960 Howard Hughes Parkway, Suite 500
	 	 	 	Las Vegas, NV 89196
	 	 	 	Attn: Mr. Robert Press
	 	 	 	E-Mail:  bpress@tcaglobalfund.com
	 	 	 	 
	 	With a copy to:	 	Lucosky Brookman LLP
	 	(which shall not constitute notice)	 	101 Wood Avenue South, 5th Floor
	 	 	 	Woodbridge, NJ 08830
	 	 	 	Attn: Seth A. Brookman, Esq.
	 	 	 	E-Mail: sbrookman@lucbro.com

 

 

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9.14.      
Governing Law. Except in the case of the Mandatory Forum Selection clause set forth in Section 9.12 hereof,
this Guaranty shall be governed by and construed in accordance with the substantive laws of the State of Nevada without reference
to conflict of laws principles.

 

9.15.      
Joint and Several Liability. The word “Guarantor” or “Guarantors” shall mean all of the
undersigned persons, if more than one, and their liability shall be joint and several. The liability of Guarantor shall also be
joint and several with the liability of any other guarantor under any other guaranty.

 

9.16.      
Continuing Enforcement. If, after receipt of any payment of all or any part of the Liabilities, Buyer is compelled
or reasonably agrees, for settlement purposes, to surrender such payment to any person or entity for any reason (including, without
limitation, a determination that such payment is void or voidable as a preference or fraudulent conveyance, an impermissible setoff,
or a diversion of trust funds), then this Guaranty shall continue in full force and effect or be reinstated, as the case may be,
and Guarantor shall be liable for, and shall indemnify, defend and hold harmless Buyer with respect to the full amount so surrendered.
The provisions of this Section shall survive the termination of this Guaranty and shall remain effective notwithstanding the payment
of the Liabilities, the cancellation, conversion or redemption of the Debentures, this Guaranty or any other Transaction Document,
the release of any security interest, lien or encumbrance securing the Liabilities or any other action which Buyer may have taken
in reliance upon its receipt of such payment. Any cancellation, release or other such action shall be deemed to have been conditioned
upon any payment of the Liabilities having become final and irrevocable.

 

9.17.      
WAIVER OF JURY TRIAL. GUARANTOR AGREES THAT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ANY SUIT, ACTION OR PROCEEDING,
WHETHER CLAIM OR COUNTERCLAIM, BROUGHT BY LENDER OR GUARANTOR ON OR WITH RESPECT TO THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR
THE DEALINGS OF THE PARTIES WITH RESPECT HERETO OR THERETO, SHALL BE TRIED ONLY BY A COURT AND NOT BY A JURY. LENDER AND GUARANTOR
HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND INTELLIGENTLY, AND WITH THE ADVICE OF THEIR RESPECTIVE COUNSEL, WAIVE, TO THE
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION OR PROCEEDING. FURTHER, LENDER AND GUARANTOR
WAIVE ANY RIGHT THEY MAY HAVE TO CLAIM OR RECOVER, IN ANY SUCH SUIT, ACTION OR PROCEEDING, ANY SPECIAL, EXEMPLARY, PUNITIVE, CONSEQUENTIAL
OR OTHER DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. GUARANTOR ACKNOWLEDGES AND AGREES THAT THIS SECTION IS A SPECIFIC
AND MATERIAL ASPECT OF THIS GUARANTY AND THAT LENDER WOULD NOT PURCHASE THE NOTES IF THE WAIVERS SET FORTH IN THIS SECTION WERE
NOT A PART OF THIS GUARANTY.

 

 

[ signature
page follows ]

 

 

    	 	9	 

     

    

 

IN WITNESS
WHEREOF, Guarantor, intending to be legally bound, has duly executed and delivered this Guaranty Agreement as of the day and year
first above written.

 

	 	[                                    ]
	 	 
	 	By: 	
	 	Name:

Title:	
                     

 

STATE
OF ________________    )

                                              ) SS.

COUNTY OF ______________     )

 

 

The
undersigned, a Notary Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY that ______________, the ____________________of __________________, a _______corporation, who is personally known to me to be the same person whose
name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he/she signed and
delivered the said instrument as his/her own free and voluntary act and as the free and voluntary act of said corporation, for
the uses and purposes therein set forth.

 

GIVEN under my hand and notarial seal this
_____ day of ________________, 20____.

 

______________________________________

Notary Public

 

My Commission Expires:

 

______________________________________

 

 

 

 

 

    	 	10Exhibit 10.3

 

SECURITY AGREEMENT

 

This SECURITY
AGREEMENT (“Agreement”) is made as of September 11, 2015, by and between MEDYTOX
SOLUTIONS, INC., a corporation incorporated under the laws of the State of Nevada (the “Company”), and
TCA GLOBAL CREDIT MASTER FUND, LP, a limited partnership organized and existing under the laws of the Cayman Islands (the “Secured
Party”).

 

WHEREAS, pursuant
to a Securities Purchase Agreement dated as of May 31, 2015 and effective as of even date herewith by and between Company and the
Secured Party (the “Purchase Agreement”), the Company has agreed to issue to the Secured Party and the Secured
Party has agreed to purchase from Company certain senior secured, convertible, redeemable debentures (the “Debentures”),
as more specifically set forth in the Purchase Agreement; and

 

WHEREAS, in
order to induce the Secured Party to purchase the Debentures, Company has agreed to execute and deliver to the Secured Party this
Agreement for the benefit of the Secured Party and to grant to Secured Party an unconditional and continuing, first priority security
interest in all of the assets and property of the Company to secure the prompt payment, performance and discharge in full of all
of Company’s obligations under the Debentures, the Purchase Agreement and the other Transaction Documents.

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements of the parties hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties each intending to be legally bound, hereby do agree as
follows:

 

1.Recitals. The recitations set forth
in the preamble of this Agreement are true and correct and incorporated herein by this reference.

 

2.Construction
and Definition of Terms. In this Agreement, unless the express context otherwise requires: (i) the words “herein,”
“hereof’ and “hereunder” and words of similar import refer to this Agreement as a whole and not to any
particular provision of this Agreement; (ii) references to the words “Section” or “Subsection” refer to
the respective Sections and Subsections of this Agreement, and references to “Exhibit” or “Schedule” refer
to the respective Exhibits and Schedules attached hereto; (iii) wherever the word “include,” “includes”
or “including” is used in this Agreement , it will be deemed to be followed by the words “without limitation.”
All capitalized terms used in this Agreement that are defined in the Purchase Agreement or otherwise defined in Articles 8 or 9
of the Code shall have the meanings assigned to them in the Purchase Agreement or the Code, respectively and as applicable, unless
the context of this Agreement requires otherwise. In addition to the capitalized terms defined in the Code and the Purchase Agreement,
unless the context otherwise requires, when used herein, the following capitalized terms shall have the following meanings (provided
that if a capitalized term used herein is defined in the Purchase Agreement and separately defined in this Agreement, the
meaning of such term as defined in this Agreement shall control for purposes of this Agreement):

 

    	1

     

    

 

(a)“Agreement”
means this Security Agreement and all amendments, modifications and supplements hereto.

 

(b)“Bankruptcy
Code” means the United States Bankruptcy Code, as amended from time to time, or any other similar laws, codes, rules
or regulations relating to bankruptcy, insolvency or the protection of creditors.

 

(c)“Business
Premises” shall mean the Company’s offices located at 400 South Australian Ave., 8th Floor, West Palm
Beach, FL 33401.

 

(d)“Closing”
shall mean the date on which this Agreement is fully executed by both parties.

 

(e)“Code”
shall mean the Uniform Commercial Code as in effect from time to time in the State of Nevada, provided that terms used herein which
are defined in the Code as in effect in the State of Nevada on the date hereof shall continue to have the same meaning notwithstanding
any replacement or amendment of such statute, except as the Secured Party may otherwise agree.

 

(f)“Collateral”
shall mean any and all property of the Company, of any kind or description, tangible or intangible, real, personal or mixed, wheresoever
located and whether now existing or hereafter arising or acquired, including the following: (i) all property of, or for the account
of, the Company now or hereafter coming into the possession, control or custody of, or in transit to, Secured Party or any agent
or bailee for Secured Patty or any parent, affiliate or subsidiary of Secured Party or any participant with Secured Patty in the
Obligations (whether for safekeeping, deposit, collection, custody, pledge, transmission or otherwise), including all cash, earnings,
dividends, interest, or other rights in connection therewith and the products and proceeds therefrom, including the proceeds of
insurance thereon; (ii) the following additional property of the Company, whether now existing or hereafter arising or acquired,
and wherever now or hereafter located, together with all additions and accessions thereto, substitutions, betterments and replacements
therefor, products and Proceeds therefrom, and all of the Company’s books and records and recorded data relating thereto
(regardless of the medium of recording or storage), together with all of the Company’s right, title and interest in and to
all computer software required to utilize, create, maintain and process any such records or data on electronic media, including
all: (A) Accounts, and all goods whose sale, lease or other disposition by the Company has given rise to Accounts and have been
returned to, or repossessed or stopped in transit by, the Company, or rejected or refused by an Account debtor; (B) As-extracted
Collateral; (C) Chattel Paper (whether tangible or electronic); (D) Commodity Accounts; (E) Commodity Contracts; (F) Deposit Accounts,
including all cash and other property from time to time deposited therein and the monies and property in the possession or under
the control of the Secured Patty or any affiliate, representative, agent, designee or correspondent of the Secured Party; (G) Documents;
(H) Equipment; (I) Farm Products; (J) Fixtures; (K) General Intangibles (including all Payment Intangibles); (L) Goods, and all
accessions thereto and goods with which the Goods are commingled; (M) Health-Care Insurance Receivables; (N) Instruments; (0) Inventory,
including raw materials, work-in-process and finished goods; (P) Investment Property; (Q) Letter-of-Credit Rights; (R) Promissory
Notes; (S) Software; (T) all Supporting Obligations; (U) all commercial tort claims hereafter arising; (V) all other tangible and
intangible personal property of the Company (whether or not subject to the Code), including, all bank and other accounts and all
cash and all investments therein, all proceeds, products, offspring, accessions, rents, profits, income, benefits, substitutions
and replacements of and to any of the property of the Company described within the definition of Collateral (including, any proceeds
of insurance thereon and all causes of action, claims and warranties now or hereafter held by the Company in respect of any of
the items listed within the definition of Collateral), and all books, correspondence, files and other Records, including, all tapes,
desks, cards, Software, data and computer programs in the possession or under the control of the Company or any other Person from
time to time acting for the Company, in each case, to the extent of the Company’s rights therein, that at any time evidence
or contain information relating to any of the property described or listed within the definition of Collateral or which are otherwise
necessary or helpful in the collection or realization thereof; (W) all real property interests of the Company and the interest
of the Company in fixtures related to such real property interests; and (X) Proceeds, including all Cash Proceeds and Noncash Proceeds,
and products of any or all of the foregoing, in each case howsoever the Company’s interest therein may arise or appear (whether
by ownership, security interest, claim or otherwise); provided, however, Collateral shall not include any Excluded Collateral (as
defined herein).

 

    	2

     

    

 

(g)“Event
of Default” shall mean any of the events described in Section 4 hereof.

 

(h)“Excluded
Collateral” shall mean, collectively, any Accounts of the Company due from any federal or state government healthcare
reimbursement program including, but not limited to, the Medicare, Medicaid, and Tri-care programs.

 

(i)“Obligations”
shall have the meaning given to it in the Purchase Agreement.

 

3.Security.

 

(a)Grant
of Security Interest. As security for the full payment and performance of all of the Obligations, whether or not any instrument
or agreement relating to any Obligation specifically refers to this Agreement or the security interest created hereunder, the Company
hereby assigns, pledges and grants to Secured Party an unconditional, continuing, first priority security interest in all of the
Collateral. Secured Party’s security interest shall continually exist until all Obligations have been indefeasibly satisfied
and/or paid in full.

 

(b)Representations,
Warranties. Covenants and Agreement of the Company. The Company covenants, warrants and represents, for the benefit of the
Secured Party, as follows:

 

    	3

     

    

 

(i)The
Company has the requisite corporate power and authority to enter into this Agreement and otherwise to carry out its obligations
hereunder. The execution, delivery and performance by the Company of this Agreement and the filings contemplated herein have been
duly authorized by all necessary action on the part of the Company and no further action is required by the Company. This Agreement
constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms, except as enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditor’s
rights generally.

 

(ii)The
Company represents and warrants that it has no place of business or offices where its respective books of account and records are
kept or places where Collateral is stored or located, except for the Business Premises.

 

(iii)The
Company is the sole owner of the Collateral (except for non-exclusive licenses granted by the Company in the Company’s Ordinary
Course of Business), free and clear of any and all Encumbrances except for $1,282,557.27 owed to the Internal Revenue Service.
The Company is fully authorized to grant the security interests in and to pledge the Collateral to Secured Party. There is not
on file in any agency, land records or other office of any Governmental Authority, an effective financing statement, security
agreement, license or transfer or any notice of any of the foregoing (other than those that have been filed in favor of the Secured
Party pursuant to this Agreement) covering or affecting any of the Collateral except for the Notice of Intent to Levy . . . from
the Internal Revenue Service for unpaid taxes in the amount of $1,282,557.27. So long as this Agreement shall be in effect, the
Company shall not execute and shall not permit to be on file in any such agency, land records or other office any such financing
statement or other document or instrument (except to the extent filed or recorded in favor of the Secured Party pursuant to the
terms of this Agreement).

 

(iv)No
part of the Collateral has been judged invalid or unenforceable. No Claim, Proceeding or other notice or other similar item has
been received by the Company that any Collateral or the Company’s use of any Collateral violates the rights of any Person.
There has been no adverse decision or claim to the Company’s ownership rights in or exclusive rights to use the Collateral
in any jurisdiction or to the Company’s right to keep and maintain such Collateral in full force and effect, and there is
no Claim or Proceeding of any nature involving said rights pending or, to the best knowledge of the Company, threatened, before
any Governmental Authority.

 

(v)The
Company shall at all times maintain its books of account and records relating to the Collateral and maintain the Collateral at
the Business Premises, and the Company shall not relocate such books of account and records or Collateral, except and unless: (A)
Secured Party first receives notice of such relocation, which approval may be withheld in Secured Party’s sole and absolute
discretion; (B) evidence that appropriate financing statements and other necessary documents have been filed and recorded and other
steps have been taken to create in favor of the Secured Party valid, perfected and continuing liens in the Collateral; or (C) Collateral
is moved or relocated in the Company’s Ordinary Course of Business, provided, however, that any permanent relocation of any
of the Collateral shall require prior written notice to Secured Party in accordance with Subsection 3(b)(v)(A) above.

 

    	4

     

    

 

(vi)Upon
making the filings described in the immediately following sentence or by possession or control of such Collateral by Secured Party
or delivery of such Collateral to Secured Party, this Agreement creates, in favor of the Secured Party, a valid, perfected, security
interest in the Collateral. Except for the filing of financing statements on Form UCC-1 under the Code with the State of Nevada,
no authorization or approval of, or filing with, or notice to any Governmental Authority is required either: (A) for the grant
by the Company of, or the effectiveness of, the security interest granted hereby or for the execution, delivery and performance
of this Agreement by the Company; or (B) for the perfection of or exercise by the Secured Party of its rights and remedies hereunder.

 

(vii)Simultaneous
with the execution of this Agreement, the Company hereby authorizes the Secured Party to file one or more UCC financing statements,
and any continuations, amendments, or assignments thereof with respect to the security interests in the Collateral granted hereby,
with the State of Nevada and in such other jurisdictions as may be necessary.

 

(viii)The
execution, delivery and performance of this Agreement, and the granting of the security interests contemplated hereby, will not:
(A) constitute a violation of or conflict with the Articles of Incorporation, Bylaws or any other organizational or governing documents
of the Company; (B) constitute a violation of, or a default or breach under (either immediately, upon notice, upon lapse of time,
or both), or conflicts with, or gives to any other Person any rights of termination, amendment, acceleration or cancellation of,
any provision of any Contract or agreement to which Company is a party or by which any of the Collateral may be bound; (C) constitute
a violation of, or a default or breach under (either immediately, upon notice, upon lapse of time, or both), or conflicts with,
any Judgment of any Governmental Authority; (D) constitute a violation of, or conflict with, any Law; or (E) result in the loss
or adverse modification of, or the imposition of any fine, penalty or other Encumbrance with respect to, any Permit granted or
issued to, or otherwise held by or for the use of, the Company or any of the Collateral. No Consent (including from stockholders
or creditors of the Company) is required for the Company to enter into and perform its obligations hereunder.

 

(ix)The
Company shall at all times maintain the liens and security interests provided for hereunder as valid and perfected liens and security
interests in the Collateral in favor of the Secured Party until this Agreement and the security interests hereunder shall terminate
pursuant to Section 8(o) below. The Company shall at all times safeguard and protect all Collateral, at its own expense, for the
account of the Secured Party. At the request of the Secured Party, the Company will deliver to the Secured Party at any time, or
from time to time, one or more financing statements pursuant to the Code (or any other applicable statute) in form reasonably satisfactory
to the Secured Party and will pay the cost of filing the same in all public offices wherever filing is, or is reasonably deemed
by the Secured Party to be, necessary or desirable to effect the rights and obligations provided for herein. Without limiting the
generality of the foregoing, the Company shall pay all fees, taxes and other amounts necessary to maintain the Collateral and the
security interests granted hereunder, and the Company shall obtain and furnish to the Secured Party from time to time, upon demand,
such releases and/or subordinations of claims and liens which may be required to maintain the priority of the security interests
hereunder.

 

    	5

     

    

 

(x)Except
for purchase money, the Company will not transfer, pledge, hypothecate, encumber, license, sell or otherwise dispose of any of
the Collateral without the prior written consent of the Secured Party, which consent may be withheld in the Secured Party’s
sole and absolute discretion, except for transfers, sales or licenses made in the Company’s Ordinary Course of Business.

 

(xi)The
Company shall keep, maintain and preserve all of the Collateral in good condition, repair and order and the Company will use, operate
and maintain the Collateral in compliance with all Laws, and in compliance with all applicable insurance requirements and regulations.

 

(xii)The
Company shall, within five (5) days of obtaining knowledge thereof, advise the Secured Party promptly, in sufficient detail, of
any substantial or material adverse change in the Collateral, and of the occurrence of any event which would have a Material Adverse
Effect.

 

(xiii)The
Company shall promptly execute and deliver to the Secured Party such further deeds, mortgages, assignments, security agreements,
financing statements or other instruments, documents, certificates and assurances and take such further action as the Secured Party
may from time to time reasonably request and may in its reasonable discretion deem necessary to perfect, protect or enforce its
security interest in the Collateral, including, placing legends on Collateral or on books and records pertaining to Collateral
stating that Secured Party has a security interest therein.

 

(xiv)The
Company will take all steps reasonably necessary to diligently pursue and seek to preserve, enforce and collect any rights, claims,
causes of action and accounts receivable in respect of the Collateral.

 

(xv)The
Company shall promptly notify the Secured Party in sufficient detail upon becoming aware of any Claim, Proceeding, or any other
litigation, attachment, garnishment, execution or other legal process levied against any Collateral or of any Claim, Proceeding
or any other material litigation, attachment, garnishment, execution or other legal process which Company knows or has reason to
believe is pending or threatened against it or the Collateral, and of any other information received by the Company that may materially
and adversely affect the value of the Collateral, the security interests granted hereunder or the rights and remedies of the Secured
Party hereunder.

 

    	6

     

    

 

(xvi)All
information heretofore, herein or hereafter supplied to the Secured Party by or on behalf of the Company with respect to the Collateral
is accurate and complete in all material respects as of the date furnished.

 

(xvii)Except
as otherwise disclosed to the Secured Party in writing, Company will promptly pay when due all Taxes and all transportation, storage,
warehousing and all other charges and fees affecting or arising out of or relating to the Collateral and shall defend the Collateral,
at Company’s expense, against all claims of any Persons claiming any interest in the Collateral adverse to Company or Secured
Party.

 

(xviii)During
normal business hours and subject to prior reasonable notice from Secured Party to the Company (which notice may be e-mail or telephonic
notice), Secured Party and its agents and designees may enter the Business Premises and any other premises of the Company and inspect
the Collateral and all books and records of the Company (in whatever form) up to two (2) times per year absent an Event of Default,
and the Company shall pay the reasonable costs of such inspections.

 

(xix)The
Company shall maintain comprehensive casualty insurance on the Collateral against such risks, in such amounts, with such loss deductible
amounts and with such companies as may be reasonably satisfactory to the Secured Party, and each such policy shall contain a clause
or endorsement satisfactory to Secured Party naming Secured Party as loss payee and a clause or endorsement satisfactory to Secured
Party that such policy may not be canceled or altered and Secured Party may not be removed as loss payee without at least thirty
(30) days prior written notice to Secured Party. In all events, the amounts of such insurance coverages shall conform to prudent
business practices and shall be in such minimum amounts that Company will not be deemed a co-insurer under applicable insurance
laws, policies or practices. Upon the occurrence and continuation of an Event of Default, the Company hereby assigns to Secured
Party and grants to Secured Party a security interest in any and all proceeds of such policies and authorizes and empowers Secured
Party to adjust or compromise any loss under such policies and to collect and receive all such proceeds. Upon the occurrence and
continuation of an Event of Default, the Company hereby authorizes and directs each insurance company to pay all such proceeds
directly and solely to Secured Party and not to the Company and Secured Party jointly. Upon the occurrence and continuation of
an Event of Default, the Company authorizes and empowers Secured Party to execute and endorse in Company’s name all proofs
of loss, drafts, checks and any other documents or instruments necessary to accomplish such collection, and any persons making
payments to Secured Party under the terms of this subsection are hereby relieved absolutely from any obligation or responsibility
to see to the application of any sums so paid. After deduction from any such proceeds of all costs and expenses (including attorney’s
fees) incurred by Secured Party in the collection and handling of such proceeds, the net proceeds shall be applied as follows:
if no Event of Default shall have occurred and be continuing, such net proceeds may be applied, at Company’s option, either
toward replacing or restoring the Collateral, in a manner and on terms satisfactory to Secured Party, or as a credit against such
of the Obligations, whether matured or unmatured, as Company shall determine. In the event that Company may and does elect to replace
or restore any of the Collateral as aforesaid, then such net proceeds shall be deposited in a segregated account opened in the
name and for the benefit of Secured Party, and such net proceeds shall be disbursed therefrom by Secured Party in such manner and
at such times as Secured Party deems appropriate to complete and insure such replacement or restoration; provided, however, that
if an Event of Default shall occur and be continuing at any time before or after replacement or restoration has commenced, then
thereupon Secured Party shall have the option to apply all remaining net proceeds either toward replacing or restoring the Collateral,
in a manner and on terms satisfactory to Secured Party, or as a credit against such of the Obligations, whether matured or unmatured,
as Secured Party shall determine in Secured Party’s sole discretion. If an Event of Default shall have occurred and be continuing
prior to such deposit of the net proceeds, then Secured Party may, in its sole discretion, apply such net proceeds either toward
replacing or restoring the Collateral, in a manner and on terms satisfactory to Secured Party, or as a credit against such of the
Obligations, whether matured or unmatured, as Secured Party shall determine in Secured Party’s sole discretion.

 

    	7

     

    

 

(xx)The
Company shall cooperate with Secured Party to obtain and keep in effect one or more control agreements in Deposit Accounts, Electronic
Chattel Paper, Investment Property and Letter-of-Credit Rights Collateral. In addition, the Company, at the Company’s expense,
shall promptly: (A) execute all notices of security interest for each relevant type of Software and other General Intangibles in
forms suitable for filing with any United States or foreign office handling the registration or filing of patents, trademarks,
copyrights and other intellectual property and any successor office or agency thereto; and (B) take all commercially reasonable
steps in any Proceeding before any such office or any similar office or agency in any other country or any political subdivision
thereof, to diligently prosecute or maintain, as applicable, each application and registration of any Software, General Intangibles
or any other intellectual property rights and assets that are part of the Collateral, including filing of renewals, affidavits
of use, affidavits of incontestability and opposition, interference and cancellation proceedings.

 

(xxi)Company
shall not file any amendments, correction statements or termination statements concerning the Collateral without the prior written
consent of Secured Party while the Obligations are outstanding.

 

(c)Collateral Collections.
While an Event of Default shall have occurred and be continuing, Secured Party shall have the right at any and all times to enforce
the Company’s rights against all Persons obligated on any of the Collateral, including the right to: (i) notify and/or require
the Company to notify any or all Persons obligated on any of the Collateral to make payments directly to Secured Party or in care
of a post office lock box under the sole control of Secured Party established at Company’s expense, and to take any or all
action with respect to Collateral as Secured Party shall determine in its sole discretion, including, the right to demand, collect,
sue for and receive any money or property at any time due, payable or receivable on account thereof, compromise and settle with
any Person liable thereon, and extend the time of payment or otherwise change the terms thereof, without incurring any liability
or responsibility to the Company whatsoever; and/or (ii) require the Company to segregate and hold in trust for Secured Party and,
on the day of Company’s receipt thereof, transmit to Secured Party in the exact form received by the Company (except for
such assignments and endorsements as may be required by Secured Party), all cash, checks, drafts, money orders and other items
of payment constituting any portion of the Collateral or proceeds of the Collateral. Secured Party’s collection and enforcement
of Collateral against Persons obligated thereon shall be deemed to be commercially reasonable if Secured Party exercises the care
and follows the procedures that Secured Party generally applies to the collection of obligations owed to Secured Party.

 

    	8

     

    

 

(d)Care
of Collateral. Except for Collateral in control or possession of the Secured Party, the Company shall have all risk of loss
of the Collateral. Except for Collateral in control or possession of the Secured Party, the Secured Party shall have no liability
or duty, either before or after the occurrence of an Event of Default, on account of loss of or damage to, to collect or enforce
any of its rights against, the Collateral, to collect any income accruing on the Collateral, or to preserve rights against Persons
with prior interests in the Collateral. If Secured Party actually receives any notices requiring action with respect to Collateral
in Secured Party’s possession, Secured Party shall take reasonable steps to forward such notices to the Company. The Company
is responsible for responding to notices concerning the Collateral, voting the Collateral, and exercising rights and options, calls
and conversions of the Collateral. Secured Party’s reasonable responsibility is to take such action as is reasonably requested
by Company in writing, however, Secured Party is not responsible to take any action that, in Secured Party’s reasonable judgment,
would affect the value of the Collateral as security for the Obligations adversely. While Secured Party is not required to take
certain actions, if action is needed, in Secured Party’s reasonable discretion, to preserve and maintain the Collateral,
Company authorizes Secured Party to take such actions, but Secured Party is not obligated to do so.

 

4.Events
of Default. The occurrence of any one or more of the acts constituting an “Event of Default” as described
in Section 3.01 of the Debenture.

 

5.Rights
and Remedies.

 

(a)Rights
and Remedies of Secured Party. Upon and while an Event of Default is continuing, Secured Party may, without notice or demand,
exercise in any jurisdiction in which enforcement hereof is sought, the following rights and remedies, in addition to the rights
and remedies available to Secured Party under the Purchase Agreement and any other Transaction Documents, the rights and remedies
of a secured party under the Code, and all other rights and remedies available to Secured Party under applicable law or in equity,
all such rights and remedies being cumulative and enforceable alternatively, successively or concurrently:

 

(i)Take
absolute control of the Collateral including transferring into the Secured Party’s name or into the name of its nominee or
nominees (to the extent the Secured Party has not theretofore done so) and thereafter receive, for the benefit of the Secured Party,
all payments made thereon, give all consents, waivers and ratifications in respect thereof and otherwise act with respect thereto
as though it were the outright owner thereof;

 

    	9

     

    

 

(ii) Require
the Company to, and the Company hereby agrees that it will at its expense and upon request of the Secured Party forthwith, assemble
all or part of the Collateral as directed by the Secured Party and make it available to the Secured Party at a place or places
to be designated by the Secured Party that is convenient to Secured Party, and the Secured Party may enter into and occupy the
Business Premises or any other premises owned or leased by the Company where the Collateral or any part thereof is located or assembled
in order to effectuate the Secured Party’s rights and remedies hereunder or under law without a breach of peace, including
removing such Collateral therefrom, without any obligation or liability to the Company in respect of such occupation, the Company
HEREBY WAIVING ANY AND ALL RIGHTS TO PRIOR NOTICE AND TO JUDICIAL HEARING WITH RESPECT TO REPOSSESSION OF COLLATERAL AND THE COMPANY
HEREBY GRANTING TO SECURED PARTY AND ITS AGENTS AND REPRESENTATIVES FULL AUTHORITY TO ENTER SUCH PREMISES;

 

(iii)Without
notice, except as specified below, and without any obligation to prepare or process the Collateral for sale: (A) sell the Collateral
or any part thereof in one or more parcels at public or private sale, at any of the Secured Party’s offices or elsewhere,
for cash, on credit or for future delivery, and at such price or prices and upon such other terms as shall be commercially reasonable;
and/or (B) lease, license or dispose of the Collateral or any part thereof upon such terms as shall be commercially reasonable.
The Company agrees that, to the extent notice of sale or any other disposition of the Collateral shall be required by law, at least
ten (10) days’ notice to the Company of the time and place of any public sale or the time after which any private sale or
other disposition of the Collateral is to be made shall constitute reasonable notification. The Secured Party shall not be obligated
to make any sale or other disposition of any Collateral regardless of notice of sale having been given. The Secured Party may adjourn
any public or private sale from time to time by announcement at the time and place fixed therefor and such sale may, without further
notice, be made at the time and place to which it was so adjourned. The Company hereby waives any claims and actions against the
Secured Party arising by reason of the fact that the price at which any of the Collateral may have been sold at a private sale
was less than the price which might have been obtained at a public sale or was less than the aggregate amount of the Obligations,
even if the Secured Party accepts the first offer received and does not offer such Collateral to more than one offeree, and waives
all rights that the Company may have to require that all or any part of such Collateral be marshaled upon any sale (public or private)
thereof. The Company hereby acknowledges that: (X) any such sale of the Collateral by the Secured Party shall be made without warranty;
(Y) the Secured Party may specifically disclaim any warranties of title, possession, quiet enjoyment or the like; and (Z) such
actions set forth in clauses (X) and (Y) above shall not adversely affect the commercial reasonableness of any such sale of Collateral.
In addition to the foregoing: (1) upon written notice to the Company from the Secured Party after and during the continuance of
an Event of Default, the Company shall cease any use of any intellectual property or any trademark, patent or copyright similar
thereto for any purpose described in such notice; (2) the Secured Party may, at any time and from time to time after and during
the continuance of an Event of Default, license, whether general, special or otherwise, and whether on an exclusive or non-exclusive
basis, any of the Company’s intellectual property, throughout the universe for such term or terms, on such conditions, and
in such manner, as the Secured Party shall in its sole discretion determine; and (3) the Secured Party may, at any time, pursuant
to the authority granted under this Agreement (such authority being effective upon the occurrence and during the continuance of
an Event of Default), execute and deliver on behalf of the Company, one or more instruments of assignment of any intellectual property
(or any application or registration thereof), in form suitable for filing, recording or registration in any country.

 

    	10

     

    

 

(iv)Operate, manage
and control the Collateral (including use of the Collateral and any other property or assets of Company in order to continue or
complete performance of Company’s obligations under any contracts of Company), or permit the Collateral or any portion thereof
to remain idle or store the same, and collect all rents and revenues therefrom.

 

(v)Enforce the Company’s
rights against any Persons obligated upon any of the Collateral.

 

(vi)The
Company hereby acknowledges that if the Secured Party complies with any applicable foreign, state, provincial or federal law requirements
in connection with a disposition of the Collateral, such compliance will not adversely affect the commercial reasonableness of
any sale or other disposition of the Collateral.

 

(vii)The
Secured Party shall not be required to marshal any present or future collateral security (including, this Agreement and the Collateral)
for, or other assurances of payment of, the Obligations or any of them or to resort to such collateral security or other assurances
of payment in any particular order, and all of the Secured Party’s rights hereunder and in respect of such collateral security
and other assurances of payment shall be cumulative and in addition to all other rights, however existing or arising. To the extent
that the Company lawfully may, the Company hereby agrees that it will not invoke any law relating to the marshaling of collateral
which might cause delay in or impede the enforcement of the Secured Party’s rights under this Agreement or under any other
instrument creating or evidencing any of the Obligations or under which any of the Obligations is outstanding or by which any of
the Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully may, the Company hereby
irrevocably waives the benefits of all such laws.

 

(b)Power
of Attorney. Effective while an Event of Default is continuing, Company hereby designates and appoints Secured Party and its
designees as attorney-in-fact of and for the Company, irrevocably and with full power of substitution, with authority to endorse
the Company’s name on any notes, acceptances, checks, drafts, money orders, instruments or other evidences of payment or
proceeds of the Collateral that may come into Secured Party’s possession; to execute proofs of claim and loss; to adjust
and compromise any claims under insurance policies; and to perform all other acts necessary and advisable, in Secured Party’s
sole discretion, to carry out and enforce this Agreement and the rights and remedies conferred upon the Secured Party by this Agreement,
the Purchase Agreement or any other Transaction Documents. All acts of said attorney or designee are hereby ratified and approved
by the Company and said attorney or designee shall not be liable for any acts of commission or omission, nor for any error of judgment
or mistake of fact or law except for gross negligence and willful misconduct. This power of attorney is coupled with an interest
and is irrevocable so long as any of the Obligations remain unpaid or unperformed or there exists any commitment by Secured Party
which could give rise to any Obligations.

 

    	11

     

    

 

(c)Costs
and Expenses. The Company agrees to pay to the Secured Party, upon demand, the amount of any and all costs and expenses, including
the reasonable fees, costs, expenses and disbursements of counsel for the Secured Party and of any experts and agents, which the
Secured Party may incur in connection with: (i) the preparation, negotiation, execution, delivery, recordation, amendment, waiver
or other modification or termination of this Agreement; (ii) the custody, preservation, use or operation of, or the sale of, collection
from, or other realization upon, any Collateral; (iii) the exercise or enforcement of any of the rights of the Secured Party hereunder;
or (iv) the failure by the Company to perform or observe any of the provisions hereof. Included in the foregoing shall be the amount
of all expenses paid or incurred by Secured Party in consulting with counsel concerning any of its rights hereunder, under the
Purchase Agreement or under applicable law, as well as such portion of Secured Party’s overhead as Secured Party shall allocate
to collection and enforcement of the Obligations in Secured Party’s sole but reasonable discretion. All such costs and expenses
shall bear interest from the date of outlay until paid, at the highest rate set forth in the Debenture, or if none is so stated,
the highest rate allowed by law. The provisions of this Subsection shall survive the termination of this Agreement and Secured
Party’s security interest hereunder and the payment of all Obligations.

 

6.Security
Interest Absolute. All rights of the Secured Party and all Obligations of the Company hereunder, shall be absolute and unconditional,
irrespective of: (i) any lack of validity or enforceability of this Agreement, the Purchase Agreement, and any other Transaction
Documents or any agreement entered into in connection with the foregoing, or any portion hereof or thereof; (ii) any change in
the time, manner or place of payment or performance of, or in any other term of, all or any of the Obligations, or any other amendment
or waiver of or any consent to any departure from the terms and provisions of the Purchase Agreement, any other Transaction Documents,
or any other agreement entered into in connection with the foregoing; (iii) any exchange, release or non-perfection of any of the
Collateral, or any release or amendment or waiver of or consent to departure from any other collateral for, or any guaranty, or
any other security, for all or any of the Obligations; (iv) any action by the Secured Party to obtain, adjust, settle and cancel
in its sole discretion any insurance claims or matters made or arising in connection with the Collateral; or (v) except for payment
and performance, any other circumstance which might otherwise constitute any legal or equitable defense available to the Company,
or a discharge of all or any part of the security interests granted hereby. Until the Obligations shall have been paid and performed
in full, the rights of the Secured Party shall continue even if the Obligations are barred for any reason, including, the running
of the statute of limitations or bankruptcy. In the event that at any time any transfer of any Collateral or any payment received
by the Secured Party hereunder shall be deemed by final order of a court of competent jurisdiction to have been a voidable preference
or fraudulent conveyance under the Bankruptcy Code or any other similar insolvency or bankruptcy laws of any jurisdiction , or
shall be deemed to be otherwise due to any party other than the Secured Party, then, in any such event, the Company’s obligations
hereunder shall survive cancellation of this Agreement, and shall not be discharged or satisfied by any prior payment thereof and/or
cancellation of this Agreement, but shall remain a valid and binding obligation enforceable in accordance with the terms and provisions
hereof. The Company waives all right to require the Secured Party to proceed against any other Person or to apply any Collateral
which the Secured Party may hold at any time, or to pursue any other remedy. The Company waives any defense arising by reason of
the application of the statute of limitations to any obligation secured hereby.

 

    	12

     

    

 

7.Indemnity.
The Company agrees to defend, protect, indemnify and hold the Secured Party forever harmless from and against any and all Claims
of any nature or kind (including reasonable legal fees, costs, expenses, and disbursements of counsel) to the extent that they
arise out of, or otherwise result from, this Agreement (including, enforcement of this Agreement) except for gross negligence and
willful misconduct. This indemnity shall survive termination of this Agreement.

 

8.Miscellaneous.

 

(a)Performance
for Company. The Company agrees and hereby authorizes that Secured Party may, in Secured Party’s sole discretion, but
Secured Party shall not be obligated to, whether or not an Event of Default shall have occurred, advance funds on behalf of the
Company , with prior notice to the Company and right to cure or contest, in order to insure the Company’s compliance with
any covenant, warranty , representation or agreement of the Company made in or pursuant to this Agreement, the Purchase Agreement,
or any other Transaction Documents, to continue or complete, or cause to be continued or completed, performance of the Company’s
obligations under any Contracts of the Company, or to preserve or protect any right or interest of Secured Party in the Collateral
or under or pursuant to this Agreement, the Purchase Agreement or any other Transaction Documents, including, the payment of any
insurance premiums or taxes and the satisfaction or discharge of any Claim, Obligation, Judgment or any other Encumbrance upon
the Collateral or other property or Assets of Company; provided, however, that the making of any such advance by Secured Party
shall not constitute a waiver by Secured Party of any Event of Default with respect to which such advance is made, nor relieve
the Company of any such Event of Default. The Company shall pay to Secured Party upon demand all such advances made by Secured
Party with interest thereon at the highest rate set forth in the Debenture, or if none is so stated, the highest rate allowed by
law. All such advances shall be deemed to be included in the Obligations and secured by the security interest granted Secured Party
hereunder; provided, however, that the provisions of this Subsection shall survive the termination of this Agreement and Secured
Party’s security interest hereunder and the payment of all other Obligations.

 

    	13

     

    

 

(b)Applications
of Payments and Collateral. Except as may be otherwise specifically provided in this Agreement or the Purchase Agreement, while
an Event of Default is continuing, all Collateral and proceeds of Collateral coming into Secured Party’s possession and all
payments made by any Person to Secured Party with respect to any Collateral may be applied by Secured Party (after payment of any
amounts payable to the Secured Party pursuant to Section 5(c) hereof) to any of the Obligations, whether matured or unmatured,
as Secured Party shall determine in its sole, but reasonable discretion. Any surplus held by the Secured Party and remaining after
the indefeasible payment in full in cash of all of the Obligations shall be paid over to whomsoever shall be lawfully entitled
to receive the same or as a court of competent jurisdiction shall direct. Secured Party may defer the application of Noncash Proceeds
of Collateral, to the Obligations until Cash Proceeds are actually received by Secured Party. In the event that the proceeds of
any such sale, collection or realization are insufficient to pay all amounts to which the Secured Party is legally entitled, the
Company shall be liable for the deficiency, together with interest thereon at the highest rate specified in the Debenture for interest
on overdue principal thereof or such other rate as shall be fixed by applicable law, together with the costs of collection and
the reasonable fees, costs, expenses and other client charges of any attorneys employed by the Secured Party to collect such deficiency.

 

(c)Waivers
by Company. The Company hereby waives, to the extent the same may be waived under applicable law: (i) notice of acceptance
of this Agreement; (ii) all claims and rights of the Company against Secured Party on account of actions taken or not taken by
Secured Party in the exercise of Secured Party’s rights or remedies hereunder, under the Purchase Agreement, and other Transaction
Documents or under applicable law; (iii) all claims of the Company for failure of Secured Party to comply with any requirement
of applicable law relating to enforcement of Secured Party’s rights or remedies hereunder, under the Purchase Agreement,
under any other Transaction Documents or under applicable law; (iv) all rights of redemption of the Company with respect to the
Collateral; (v) in the event Secured Party seeks to repossess any or all of the Collateral by judicial proceedings, any bond(s)
or demand(s) for possession which otherwise may be necessary or required; (vi) presentment, demand for payment, protest and notice
of non-payment and all exemptions applicable to any of the Collateral or the Company; (vii) any and all other notices or demands
which by applicable law must be given to or made upon the Company by Secured Party; (viii) settlement, compromise or release of
the obligations of any Person primarily or secondarily liable upon any of the Obligations; (ix) all rights of the Company to demand
that Secured Party release account debtors or other Persons liable on any of the Collateral from further obligation to Secured
Party; and (x) substitution, impairment, exchange or release of any Collateral for any of the Obligations. The Company agrees that
Secured Party may exercise any or all of its rights and/or remedies hereunder, under the Purchase Agreement, the other Transaction
Documents and under applicable law without resorting to and without regard to any Collateral or sources of liability with respect
to any of the Obligations. Upon termination of this Agreement and Secured Party’s security interest hereunder and payment
of all Obligations, within ten (10) Business Days following the Company’s request to Secured Party, Secured Party shall release
control of any security interest in the Collateral perfected by control and Secured Party shall send Company a statement terminating
any financing statement filed against the Collateral.

 

(d)Waivers
by Secured Party. No failure or any delay on the part of Secured Party in exercising any right, power or remedy hereunder,
under this Agreement, the Purchase Agreement, and other Transaction Documents or under applicable law, shall operate as a waiver
thereof.

 

    	14

     

    

 

(e)Secured
Party’s Setoff. Secured Party shall have the right, in addition to all other rights and remedies available to it, following
an Event of Default, to set off against any Obligations due Secured Party, any debt owing to the Company by Secured Party.

 

(f) Modifications,
Waivers and Consents. No modifications or waiver of any provision of this Agreement, the Purchase Agreement, or any other Transaction
Documents, and no consent by Secured Party to any departure by the Company therefrom, shall in any event be effective unless the
same shall be in writing, and then such waiver or consent shall be effective only in the specific instance and for the purpose
for which given, and any single or partial written waiver by Secured Party of any term, provision or right of Secured Party hereunder
shall only be applicable to the specific instance to which it relates and shall not be deemed to be a continuing or future waiver
of any other right, power or remedy. No notice to or demand upon the Company in any case shall entitle Company to any other or
further notice or demand in the same, similar or other circumstances.

 

(g)Notices.
All notices of request, demand and other communications hereunder shall be addressed to the parties as follows:

 

	If to the Company:	400 South Australian Ave., 8th Floor
	 	West Palm Beach, FL 33401
	 	Attention:  Jace Simmons
	 	E-Mail: jsimmons@medytoxsolutionsinc.com
	 	 
	With a copy to:	Akerman LLP 
	(which shall not constitute notice)	One Southeast Third Avenue 
	 	Miami, FL 33131 
	 	Attention: Dean M. Freitag, Esq. 
	 	E-Mail:  dean.freitag@akerman.com 
	 	 
	If to the Secured Party:	TCA Global Credit Master Fund, LP 
	 	3960 Howard Hughes Parkway, Suite 500
	 	Las Vegas, NV 89169
	 	Attn: Mr. Robert Press
	 	E-Mail:  bpress@tcaglobalfund.com
	 	 
	With a copy to:	Lucosky Brookman LLP
	(which shall not constitute notice)	101 Wood Avenue South, 5th Floor 
	 	Woodbridge, NJ 08830
	 	Attn: Seth A. Brookman, Esq. 
	 	E-Mail:  sbrookman@lucbro.com

 

    	15

     

    

 

unless the address
is changed by the party by like notice given to the other parties. Notice shall be in writing and shall be deemed delivered: (i)
if mailed by certified mail, return receipt requested, postage prepaid and properly addressed to the address below, then three
(3) business days after deposit of same in a regularly maintained U.S. Mail receptacle; or (ii) if mailed by Federal Express, UPS
or other nationally recognized overnight courier service, next business morning delivery, then one (1) business day after deposit
of same in a regularly maintained receptacle of such overnight courier ; or (iii) if hand delivered, then upon hand delivery thereof
to the address indicated on or prior to 5:00 p.m., EST, on a business day. Any notice hand delivered after 5:00 p.m., EST, shall
be deemed delivered on the following business day. Notwithstanding the foregoing, notice, consents, waivers or other communications
referred to in this Agreement may be sent by facsimile, e-mail, or other method of delivery, but shall be deemed to have been delivered
only when the sending party has confirmed (by reply e-mail or some other form of written confirmation from the receiving party)
that the notice has been received by the other party.

 

(h)Applicable
Law and Consent to Jurisdiction. The Grantor and the Secured Party each irrevocably agrees that any dispute arising under,
relating to, or in connection with, directly or indirectly, this Agreement or related to any matter which is the subject of or
incidental to this Agreement (whether or not such claim is based upon breach of contract or tort) shall be subject to the exclusive
jurisdiction and venue of the state and/or federal courts located in Broward County, Florida. This provision is intended to be
a “mandatory” forum selection clause and governed by and interpreted consistent with Florida law. The Grantor and Secured
Party each hereby consents to the exclusive jurisdiction and venue of any state or federal court having its situs in said county,
and each waives any objection based on forum non conveniens. The Grantor hereby waives personal service of any and all process
and consent that all such service of process may be made by certified mail, return receipt requested, directed to the Grantor,
as set forth herein in the manner provided by applicable statute, law, rule of court or otherwise. Except for the foregoing mandatory
forum selection clause, this Agreement shall be construed in accordance with the laws of the State of Nevada, without regard to
the principles of conflicts of laws, except to the extent that the validity and perfection or the perfection and the effect of
perfection or non-perfection of the security interest created hereby, or remedies hereunder, in respect of any particular Collateral
are governed under the Code by the law of a jurisdiction other than the State of Nevada, in which case such issues shall be governed
by the laws of the jurisdiction governing such issues under the Code.

 

(i)Survival:
Successors and Assigns. All covenants, agreements, representations and warranties made herein shall survive the execution and
delivery hereof, shall survive Closing and shall continue in full force and effect until all Obligations have been paid in full,
there exists no commitment by Secured Party which could give rise to any Obligations and the Secured Party has provided written
notice acknowledging the satisfaction of all Obligations. Whenever in this Agreement any of the parties hereto is referred to,
such reference shall be deemed to include the successors and assigns of such party. In the event that Secured Party assigns this
Agreement and/or its security interest in the Collateral, Secured Party shall give written notice to the Company of any such assignment
and such assignment shall be binding upon and recognized by the Company (provided that failure to deliver any such written notice
shall not impair, negate or otherwise adversely affect any of the Secured Party’s rights or remedies under this Agreement
or any other Transaction Documents). All covenants, agreements, representations and warranties by or on behalf of the Company which
are contained in this Agreement shall inure to the benefit of Secured Party, its successors and assigns. The Company may not assign
this Agreement or delegate any of its rights or obligations hereunder, without the prior written consent of Secured Party, which
consent may be withheld in Secured Party’s sole and absolute discretion.

 

    	16

     

    

 

(j)Severabilitv.
If any term, provision or condition, or any part thereof, of this Agreement shall for any reason be found or held invalid or unenforceable
by any court or governmental authority of competent jurisdiction, such invalidity or unenforceability shall not affect the remainder
of such term, provision or condition nor any other term, provision or condition, and this Agreement shall survive and be construed
as if such invalid or unenforceable term, provision or condition had not been contained therein.

 

(k)Merger
and Integration. This Agreement and the attached Schedules (if any), together with the Purchase Agreement and the other Transaction
Documents, contain the entire agreement of the parties hereto with respect to the matters covered and the transactions contemplated
hereby and thereby, and no other agreement, statement or promise made by any party hereto or thereto, or by any employee, officer,
agent or attorney of any party hereto, which is not contained herein or therein shall be valid or binding.

 

(1)WAIVER
OF JURY TRIAL. THE COMPANY HEREBY: (a) COVENANTS AND AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY A
JURY; AND (b) WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO WHICH THE COMPANY AND SECURED PARTY MAY BE PARTIES, ARISING OUT
OF, IN CONNECTION WITH OR IN ANY WAY PERTAINING TO THIS AGREEMENT, THE PURCHASE AGREEMENT AND/OR ANY TRANSACTIONS, OCCURRENCES,
COMMUNICATIONS, OR UNDERSTANDINGS (OR THE LACK OF ANY OF THE FOREGOING) RELATING IN ANY WAY TO DEBTOR-CREDITOR RELATIONSHIP BETWEEN
THE PARTIES. IT IS UNDERSTOOD AND AGREED THAT THIS WAIVER CONSTITUTES A WAIVER OF TRIAL BY JURY OF ALL CLAIMS AGAINST ALL PARTIES
TO SUCH ACTIONS OR PROCEEDINGS, INCLUDING CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS SECURITY AGREEMENT. THIS WAIVER OF
JURY TRIAL IS SEPARATELY GIVEN, KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY THE COMPANY AND THE COMPANY HEREBY AGREES THAT NO
REPRESENTATIONS OF FACT OR OPINION HAVE BEEN MADE BY ANY INDIVIDUAL TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY WAY MODIFY
OR NULLIFY ITS EFFECT. SECURED PARTY IS HEREBY AUTHORIZED TO SUBMIT THIS AGREEMENT TO ANY COURT HAYING JURISDICTION OVER THE SUBJECT
MATTER AND THE COMPANY AND SECURED PARTY, SO AS TO SERVE AS CONCLUSIVE EVIDENCE OF SUCH WAIVER OF RIGHT TO TRIAL BY JURY. THE COMPANY
REPRESENTS AND WARRANTS THAT IT HAS BEEN REPRESENTED IN THE SIGNING OF THIS AGREEMENT AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT
LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND/OR THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

 

    	17

     

    

 

(m)Execution.
This Agreement may be executed in one or more counterparts, all of which taken together shall be deemed and considered one and
the same Agreement, and same shall become effective when counterparts have been signed by each party and each party has delivered
its signed counterpart to the other party. In the event that any signature is delivered by facsimile transmission or by e-mail
delivery of a “.pdf” format file or other similar format file, such signature shall be deemed an original for all purposes
and shall create a valid and binding obligation of the party executing same with the same force and effect as if such facsimile
or “.pdf” signature page was an original thereof.

 

(n)Headings.
The headings and sub-headings contained in the titling of this Agreement are intended to be used for convenience only and shall
not be used or deemed to limit or diminish any of the provisions hereof.

 

(o)Termination.This
Agreement and the security interests hereunder shall terminate on the date on which all Obligations have been indefeasibly paid
or discharged in full and there are no commitments outstanding for Secured Party to advance any funds to the Company, either under
the Purchase Agreement, the Transaction Documents or any other Contract. Upon such termination, the Secured Party, at the request
and at the expense of the Company for the fee for the filing of the termination statement, will furnish any termination statement
with respect to any financing statement filed pursuant to this Agreement.

 

(p)Gender
and Use of Singular and Plural. All pronouns shall be deemed to refer to the masculine, feminine, neuter, singular or plural,
as the identity of the party or parties or their personal representatives, successors and assigns may require.

 

(q)Further
Assurances. The parties hereto will execute and deliver such further instruments and do such further acts and things as may
be reasonably required to carry out the intent and purposes of this Agreement.

 

(r)Time
is of the Essence. The parties hereby agree that time is of the essence with respect to performance of each of the parties’
obligations under this Agreement. The parties agree that in the event that any date on which performance is to occur falls on a
Saturday, Sunday or state or national holiday, then the time for such performance shall be extended until the next business day
thereafter occurring.

 

(s)Joint
Preparation. The preparation of this Agreement has been a joint effort of the parties and the resulting documents shall not,
solely as a matter of judicial construction, be construed more severely against one of the parties than the other.

 

    	18

     

    

 

(t)Increase
in Obligations. It is the intent of the parties to secure payment of the Obligations, as the amount of such Obligations may
increase from time to time in accordance with the terms and provisions of the Purchase Agreement, and all of the Obligations, as
so increased from time to time, shall be and are secured hereby. Upon the execution hereof, the Company shall pay any and all documentary
stamp taxes and/or other charges required to be paid in connection with the execution and enforcement of the Purchase Agreement
and this Agreement, and if, as and to the extent the Obligations are increased from time to time in accordance with the terms and
provisions of the Debenture, then the Company shall immediately pay any additional documentary stamp taxes or other charges in
connection therewith.

 

 

 

[signature page follows]

 

 

 

    	19

     

    

 

IN WITNESS WHEREOF, the parties hereto have
duly executed this Security Agreement as of the day and year first above written.

 

	 	COMPANY:
	 	 
	 	MEDYTOX SOLUTIONS, INC.
	 	 
	 	 
	 	 
	 	By:  /s/ Seamus Lagan
	 	Name: Seamus Lagan
	 	Title:  Chief Executive Officer

 

 

	STATE OF ________________	)
	 	) SS.
	COUNTY OF ______________	)

 

 

The undersigned, a Notary
Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY that Seamus Lagan, the Chief Executive Officer of
Medytox Solutions, Inc., a Nevada corporation, who is personally known to me to be the same person whose name is subscribed to
the foregoing instrument, appeared before me this day in person and acknowledged that he/she signed and delivered the said instrument
as his/her own free and voluntary act and as the free and voluntary act of said corporation, for the uses and purposes therein
set forth.

 

GIVEN under my hand and notarial seal this _____
day of ________________, 20____.

 

	 	 
	 	Notary Public
	 	 
	 	My Commission Expires:
	 	 
	 	 

 

    	20

     

    

 

	 	SECURED PARTY:
	 	 
	 	TCA GLOBAL CREDIT MASTER FUND, LP
	 	 
	 	By:   TCA Global Credit Master Fund GP, Ltd., 
	 	Its:    general partner
	 	 
	 	 
	 	 
	 	By:  /s/ Robert Press
	 	Name: Robert Press
	 	Title:  Director
	 	 

 

 

 

 

 

    	21

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