Document:

Exhibit 10.2

 

COMMON STOCK PURCHASE AGREEMENT

 

Private
and Confidential

 

THIS COMMON STOCK PURCHASE
AGREEMENT (the “Agreement”), made as of the last executed date below (the “Effective Date”), by and among Lauderdale
Holdings, LLC, a Florida limited liability company, in which Mr. Garry McHenry maintains a controlling interest with a. principle
address located at 1919 NW 19th Street Fort Lauderdale, FL 33344, the control shareholder (the “Seller”), Edward Manolos,
Robert L. Hymers III and Dan Nguyen, all of whom are individuals residing in the State of California (the “Buyers”) and
MCTC Holdings, Inc. a publicly reporting company incorporated in the State of Delaware (the ‘Company”).

 

WI T N E S S E T H:

 

WHEREAS, the Company has
authorized Two Hundred Ninety Million (290,000,000) shares of common stock, par value $0.001 per share, of which One Hundred
Eighty Three Million Eight Hundred Sixty Nine Thousand Six Hundred (183,869,600) shares of common stock are issued and
outstanding as of the date hereof, of which the Seller controls One Hundred Thirty Million (130,000,000) shares of common
stock representing 70.7% percent of the issued and outstanding shares of common stock (the “Control Shares”) that
were never registered in any Registration Statement under the Securities Act of 1933 with the U.S. Securities and Exchange
Commission as amended (the “Control Shares”)

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants, representations and warranties contained herein, and subject to the terms and
conditions hereof, the Parties hereby agree as follows:

 

1. Sale
and Purchase of Control Shares and Debt. Seller hereby agrees to sell the Control Shares to the Buyers and the Buyers agree to
sell the Control Shares to the Seller for valuable consideration of Three Hundred Twenty Five Thousand Dollars ($325,000).

 

2. Closing.
On or before June 1, 2019, Buyer and Seller shall exchange fully executed copies of this Agreement per the previously sign escrow
agreement.

 

3. Conditions
to Closing by the Buyer. The obligations of Buyer to consummate the acquisition of the Control Shares are subject to the satisfaction
of the following conditions:

 

a. The
Company, the Seller, and the Escrow Agent shall have provided an executed copy of the Escrow Agreement;

 

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b. Seller
shall deliver upon execution of the Agreement by all Parties, the Control Shares to the Escrow Agent with valid signed stock power,
medallion guaranteed, together with all documents necessary to effectuate the transfer of the shares,.

 

c. The
Seller shall acknowledge that the Control Shares being transferred by the Sellers is validly issued fully paid and are non-assessable.

 

d. Buyer
or a designee of Buyer shall appoint all the new members to the Company’s Board of Directors and all existing members shall
be resigned, effective immediately upon Closing.

 

4.
Representations and Warranties of Seller. Seller hereby represents and warrants, from the Closing Date, to Buyer, that the statements
in the following paragraphs of this Section 6 are all true and complete as of the Execution Date and the Closing Date:

 

a.
Liabilities of the Company. Seller warrants that the Company has no outstanding liabilities or contingent liabilities other than
the debts outlined in SEC filings of the past twelve (12) months.

 

b.
Full Power and Authority. Seller represent that it has full power and authority to sell, transfer and deliver the Control Shares
which are owned by or under the legal control of the Seller in accordance with the terms of this Agreement, and otherwise to consummate
and close the transaction provided for in this Agreement in the manner and upon the terms herein specified.

 

c.
Fully Paid and Non-Assessable. Seller warrants that the Control Shares being transferred by the Seller have been validly issued,
fully paid, and are non- assessable.

 

d.
Options, Warrants and Other Rights and Agreements Affecting Company Stock. Seller warrants that the Company has no authorized
or outstanding options, warrants, calls, subscriptions, rights, convertible securities or other securities [as defined in the
Federal Securities Act of 1933 (“Securities”)] or any commitments, agreements, arrangements or understandings of any
kind or nature obligating Company, in any such case, to issue shares of Company common stock or other Securities or securities
convertible into or evidencing the right to purchase shares of Company capital stock or other Securities. Neither Seller nor Company
is a party of any agreement, understanding, arrangement or commitment, or bound by any Articles or By-Law provision which creates
any rights in any person with respect to the authorization, issuance, voting, sale or transfer of any shares of Company’s Stock
or other Securities.

 

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e.
Conduct of Business in Compliance With Regulatory and Contractual Requirements. Seller warrants that the Company is not
currently conducting any business that is not in compliance with all Laws and nor is Company in (i) violation of any Laws of
any Governmental Entities, or (ii) violation of any restrictive or similar covenant, agreement, commitment, understanding or
arrangement.

 

f.
Legal Proceedings. Seller warrants that there is not and he is not aware of any action, suit, proceeding, claim, arbitration,
or investigation by any Governmental Entities or other person (i) to which Company is or may be a party relating to the activities
of the Company prior to the Closing Date, (ii) threatened against or relating to Company or any of Company’s assets or businesses,
(iii) challenging Company’s right to execute, acknowledge, seal, deliver, perform under or consummate the transactions contemplated
by this Agreement, or (iv) asserting any rights with respect to any of the Control Shares, and there is no basis for any such
action, suit, proceeding, claim, arbitration or investigation.

 

g.
Closing Date Assets. Seller warrants that at Closing the Company will has no assets of any kind.

 

h.
Leases and Other Agreements. Seller warrants that at Closing the Company will have no outstanding leases or will be subject to
any other Agreement.

 

i.
Employment Contracts. Seller warrants that at Closing the Company will have no outstanding employment obligation of any kind.

 

j.
Employees. Seller warrants that at Closing, Buyer shall have no obligations whatsoever, for any compensation or other amounts
payable to any employee, director, consultant or independent contractor of Company, including, but not limited to bonus, salary,
compensation, accrued vacation, fringe, pension or profit sharing benefits, or severance paid or payable to any employee, director,
consultant or independent contractor of Company relating to service with or for the Company at any time prior to the Closing Date.

 

k.
Disclosure. Seller warrants that it has disclosed to Buyer in this Agreement all material facts related to the transactions contemplated
by this Agreement. No representation or warranty of the Seller contained in this Agreement or other agreements and instrument
referred to in this Agreement, and no statement contained in any certificate, schedule, list or other writing furnished to Buyer
pursuant to the provisions of this Agreement contains any untrue statement of a material fact or omits to state a material fact
necessary in order to make the statements herein or therein not misleading.

 

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5.
Representations of Buyers. Buyers hereby represents to the Seller that the statements in the following paragraphs of this Section
5 are all true and complete as of the Payment Date and the Final Payment Date:

 

a.
Full Power and Authority. Buyers represent that they have full power and authority to enter into this Agreement and consummating
the transactions contemplated hereby.

 

b.
Investment Experience. Buyers understand that purchase of the Control Shares involves substantial risk. Buyer:

 

i. has
experience as purchasers in securities of companies in the development stage and acknowledges that they can bear the economic risk
of Buyers’ investment in the Control Shares; and,

 

ii. has
such knowledge and experience in financial, tax, and business matters so as to enable Buyers to evaluate the merits and risks of
an investment in the Control Shares, to protect Buyers’ own interests in connection with the investment and to make an informed
investment decision with respect thereto.

 

c. No Oral Representations.
No oral or written representations have been made other than or in addition to those stated in this Agreement. Buyers are not
relying on any oral or written statements made by the Seller, the Seller’s representatives, employees or affiliates in purchasing
the Control Shares.

 

d.
Compliance. Buyers shall comply with all applicable securities laws, rules and regulations regarding this Agreement, the transactions
contemplated hereby and all related transactions.

 

6.
Indemnification of Buyers. Seller shall indemnify and hold harmless Buyer from and against any losses, damages or expenses which
may be suffered or incurred by Buyer arising from or by reason of the inaccuracy of any statement, representation or warranty
of Seller made herein or, in any Exhibit hereto or certificate delivered in connection herewith, or the failure of Seller to perform
any agreement made by them herein. Buyer shall give Seller prior written notice of any claim, demand, suit or action with respect
to which indemnity may be sought pursuant to this Section. Seller, in every such case, shall have the right at his sole expense
and cost to participate in contesting the validity or the amount of any such claim, demand, suit or action. In the event Buyer
suffers loss, damage or expense and is entitled to indemnification under this Section, the amount of any such loss, damage or
expense shall be assessed against and shall be paid by Seller. Seller shall have no liability under this Section unless a claim
for indemnification is made by Buyer prior to Ninety (90) days from the Closing. Notwithstanding anything herein to the contrary,
Seller shall have no liability under this Section for any loss, damage, expense or amount suffered or incurred by Buyer (a) as
a result of any election made by Buyer subsequent to the Closing under Section 338 of the Internal Revenue Code of 1954, as amended,
or (b) which is covered by insurance maintained by Seller on the Closing Date.

 

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7.
Indemnification of Seller. Buyer shall indemnify Seller and shall hold Seller harmless, on demand, from and against any
losses, damages or expenses which may be suffered or incurred by Seller arising from or by reason of the inaccuracy of any
statement, representation or warranty of Seller made herein or in any document or instrument delivered by Buyer in connection
with the transactions herein contemplated, or the failure of Buyer to perform any agreement or covenant made by it herein or
in any document or instrument delivered by Buyer to Seller in connection with the transactions herein contemplated. Buyer
shall have no liability under this Section unless a claim for indemnification is made by Seller prior to Ninety (90) days
from the Closing.

 

8.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California,
without giving effect to any other choice or conflict of law provision that would cause the application of the laws of any
other jurisdiction other than the State of California.

 

9.
Term/Survival. The terms of this Agreement shall be effective as of the Execution of this Agreement and shall survive the
termination of this Agreement.

 

10.
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties.

 

11.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same agreement. A telefaxed copy of this Agreement shall be deemed an
original.

 

12.
Headings. The headings used in this Agreement are for convenience of reference only and shall not be deemed to limit,
characterize or in any way affect the interpretation of any provision of this Agreement.

 

13.
Ambiguities. Each Party and its counsel have participated fully in the review and revision of this Agreement. The Parties
understand and agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting
party shall not apply in interpreting this Agreement. The language in this Agreement shall be interpreted as to its fair
meaning and not strictly for or against any Party.

 

14.
Costs, Expenses. Each Party hereto shall bear its own costs in connection with the preparation, execution and delivery of
this Agreement.

 

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15.
Modifications and Waivers. No change, modification or waiver of any provision of this Agreement shall be valid or binding
unless it is in writing, dated subsequent to the execution of this Agreement, and signed by all the Parties. No waiver of any
breach, term, condition or remedy of this Agreement by any Party shall constitute a subsequent waiver of the same or any
other breach, term, condition or remedy. All remedies, either under this Agreement, by law, or otherwise afforded the Buyers
shall be cumulative and not alternative.

 

16.
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such
provision(s) shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such
provision(s) were so excluded and shall be enforceable in accordance with its terms.

 

17.
Entire Agreement. This Agreement constitutes the entire agreement and understanding of the Parties with respect to the
subject matter hereof and supersedes any and all prior negotiations, correspondence, agreements, understandings duties or
obligations between the Parties with respect to the subject matter hereof.

 

18.
Further Assurances. From and after the date of this Agreement, upon the request of the Buyers or the Sellers, Buyers and the
Sellers shall execute and deliver such instruments, documents or other writings as may be reasonably necessary or desirable
to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

 

19.
Notices. All notices or other communications required or permitted by this Agreement shall be in writing and shall be deemed
to have been duly received:

 

a. if
given by telecopier, when transmitted and the appropriate telephonic confirmation received if transmitted on a business day and
during normal business hours of the recipient, and otherwise on the next business day following transmission;

 

b. if
given by certified or registered mail, return receipt requested, postage prepaid, three business days after being deposited in
the U.S. mails; and

 

c. if
given by courier or other means, when received or personally delivered, and, in any such case, addressed as indicated herein, or
to such other addresses as may be specified by any such Person to the other Person pursuant to notice given by such Person in accordance
with the provisions of this Section 19.

 

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20.
Insider Trading. Sellers and Buyers hereby certify that they have not themselves, nor through any third parties, purchased
nor caused to be purchased in the public marketplace any publicly traded shares of the Company. Sellers and Buyer further
certify they have not communicated the nature of the transactions contemplated by the Agreement, are not aware of any
disclosure of nonpublic information concerning said transactions and are not a party to any insider trading of Company
shares.

 

21.
Binding Arbitration. In the event of any dispute, claim, question, or disagreement arising from or relating to this Agreement
or the breach thereof, the Parties hereto shall use their best efforts to settle the dispute, claim question, or
disagreement. To this effect, they shall consult and negotiate with each other in good faith and, recognizing their mutual
interests, attempt to reach a just and equitable solution satisfactory to both Parties. If they do not reach such a solution
within a period of sixty (60) days, then, upon notice by either Party to the other, all disputes, claims, questions, or
disagreements shall be settled by arbitration administered by the American Arbitration Association in accordance with its
Commercial Arbitration Rules including the Optional Rules for Emergency Measures of Protection, and judgment on any award
rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

 

(End of Sections – Sig Pages Follow)

 

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In
Witness Whereof, the Parties hereto have executed this Agreement as of the last date written below.

 

	BUYERS:	 
	 	 	 
	ROBERT L. HYMERS III	 
	 	 
	/s/
    ROBERT L. HYMERS III	 
	Date:	5/22/19	 
	 	 	 
	DAN NGUYENOS	 
	 	 	 
	/s/
    DAN NGUYEN	 
	Date:	5/22/19	 
	 	 	 
	EDWARD MANOpLOS	 
	 	 
	/s/
    EDWARD MANOLOS	 
	Date:	5/22/19	 
	 	 	 
	SELLER	 
	 	 	 
	GARRY MCHENRY	 
	 	 
	/s/
    GARRY MCHENRY	 
	Date:	5/22/19	 
	 	 	 
	COMPANY:	 
	 	 	 
	MCTC HOLDINGS, INC.	 
	 	 
	GARRY MCHENRY	 
	 	 
	/s/
    GARRY MCHENRY	 
	Date:	5/22/19	 

 

 

 

8Exhibit 10.3

 

INDEPENDENT DIRECTOR AGREEMENT

 

This INDEPENDENT DIRECTOR
AGREEMENT is dated July 10th, 2019 (the “Agreement”) by and between MCTC HOLDINGS, INC, a Delaware corporation (the“Company”),
and ROBERT L. HYMERS, an individual resident of the State of California (the “Director”).

 

WHEREAS, the Company
appointed the Director effective as of the date hereof (the “Effective Date”) and desires to enter into an agreement
with the Director with respect to such appointment; and

 

WHEREAS, the Director
is willing to accept such appointment and to serve the Company on the terms set forth herein and in accordance with the provisions
of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein, the parties hereto agree as follows:

 

1. Position.
Subject to the terms and provisions of this Agreement, the Company shall cause the Director to be appointed, and the Director hereby
agrees to serve the Company in such position upon the terms and conditions hereinafter set forth, provided, however,
that the Director’s continued service on the Board of Directors of the Company (the “Board”) after the initial
one-year term on the Board shall be subject to any necessary approval by the Company’s stockholders.

 

2. Duties.
(a) During the Directorship Term (as defined herein), the Director make reasonable business efforts to attend all Board meetings
and quarterly prescheduled Board and Management conference calls, serve on appropriate subcommittees as reasonably requested and
agreed upon by the Board, make himself available to the Company at mutually convenient times and places, attend external meetings
and presentations when agreed on in advance, as appropriate and convenient, and perform such duties, services and responsibilities,
and have the authority commensurate to such position.

 

(b) The Director will
use his best efforts to promote the interests of the Company. The Company recognizes that the Director (i) is or may become a fulltime
executive employee of another entity and that his responsibilities to such entity must have priority and (ii) sits or may sit on
the board of directors of other entities, subject to any limitations set forth by the Sarbanes-Oxley Act of 2002 and limitations
provided by any exchange or quotation service on which the Company’s common stock is listed or traded. Notwithstanding the
same, the Director will provide the Company with prior written notice of any future commitments to such entities and use reasonable
business efforts to coordinate his respective commitments so as to fulfill his obligations to the Company and, in any event, will
fulfill his legal obligations as a Director. Other than as set forth above, the Director will not, without the prior notification
to the Board, engage in any other business activity which could materially interfere with the performance of his duties, services
and responsibilities hereunder or which is in violation of the reasonable policies established from time to time by the Company,
provided that the foregoing shall in no way limit his activities on behalf of (i) any current employer and its affiliates
or (ii) the board of directors of any entities on which he currently sits. At such time as the Board receives such notification,
the Board may require the resignation of the Director if it determines that such business activity does in fact materially interfere
with the performance of the Director’s duties, services and responsibilities hereunder.

 

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3. Compensation.

 

(a) Restricted Stock.
The Director shall receive Seven thousand, Five hundred dollars ($7,500) per month commencing 30 days from The Effective Date of
This Agreement. Any unpaid amounts due to the director, the director has the option to convert any monies owed into the company’s
common stock. Such shares shall be vested and issued at the end of the term of this agreement. Notwithstanding the foregoing, if
the director ceases to be a member of board at any time during the vested period for any reason (such as: resignation, withdrawal,
death, disability or any other reason), then any unvested shares shall be irrefutably forfeited.

 

(b) Independent Contractor.
The Director’s status during the Directorship Term shall be that of an independent contractor and not, for any purpose, that
of an employee or agent with authority to bind the Company in any respect. All payments and other consideration made or provided
to the Director under this Section 3 shall be made or provided without withholding or deduction of any kind, and the Director shall
assume sole responsibility for discharging all tax or other obligations associated therewith.

 

(c) Expense Reimbursements.
During the Directorship Term, the Company shall reimburse the Director for all reasonable out-of-pocket expenses incurred by the
Director in attending any in-person meetings, provided that the Director complies with the generally applicable policies,
practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses.
Any reimbursements for allocated expenses (as compared to out-of-pocket expenses of the Director in excess of $500.00) must be
approved in advance by the Company.

 

4. Directorship
Term. The “Directorship Term,” as used in this Agreement, shall mean the period commencing on the Effective Date
and terminating on the earlier of the date of the next annual stockholders meeting and the earliest of the following to occur:
(a) the death of the Director; (b) the termination of the Director from his membership on the Board by the mutual agreement of
the Company and the Director; (c) the removal of the Director from the Board by the majority stockholders of the Company; and (d)
the resignation by the Director from the Board.

 

5. Director’s
Representation and Acknowledgment. The Director represents to the Company that his execution and performance of this Agreement
shall not be in violation of any agreement or obligation (whether or not written) that he may have with or to any person or entity,
including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this Agreement (and
any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director shall have
no recourse whatsoever against any stockholder of the Company or any of their respective affiliates with regard to this Agreement.

 

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6. Director Covenants.
(a) Unauthorized Disclosure. The Director agrees and understands that in the Director’s position with the Company, the Director
has been and will be exposed to and receive information relating to the confidential affairs of the Company, including, but not
limited to, technical information, business and marketing plans, strategies, customer information, other information concerning
the Company’s products, promotions, development, financing, expansion plans, business policies and practices, and other forms
of information considered by the Company to be confidential and in the nature of trade secrets. The Director agrees that during
the Directorship Term and thereafter, the Director will keep such information confidential and will not disclose such information,
either directly or indirectly, to any third person or entity without the prior written consent of the Company; provided,
however, that (i) the Director shall have no such obligation to the extent such information is or becomes publicly known
or generally known in the Company’s industry other than as a result of the Director’s breach of his obligations hereunder
and (ii) the Director may, after giving prior notice to the Company to the extent practicable under the circumstances, disclose
such information to the extent required by applicable laws or governmental regulations or judicial or regulatory process. This
confidentiality covenant has no temporal, geographical or territorial restriction. Upon termination of the Directorship Term, the
Director will promptly return to the Company and/or destroy at the Company’s direction all property, keys, notes, memoranda,
writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical
data, other product or document, and any summary or compilation of the foregoing, in whatever form, including, without limitation,
in electronic form, which has been produced by, received by or otherwise submitted to the Director in the course or otherwise as
a result of the Director’s position with the Company during or prior to the Directorship Term, provided that the Company
shall retain such materials and make them available to the Director if requested by him in connection with any litigation against
the Director under circumstances in which (i) the Director demonstrates to the reasonable satisfaction of the Company that the
materials are necessary to his defense in the litigation and (ii) the confidentiality of the materials is preserved to the reasonable
satisfaction of the Company.

 

(b) Non-Solicitation.
During the Directorship Term and for a period of three (3) years thereafter, the Director shall not interfere with the Company’s
relationship with, or endeavor to entice away from the Company, any person who, on the date of the termination of the Directorship
Term and/or at any time during the one year period prior to the termination of the Directorship Term, was an employee or customer
of the Company or otherwise had a material business relationship with the Company.

 

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(c) Non-Compete.
The Director agrees that during the Directorship Term and for a period of Three (3) years thereafter, he shall not in any manner,
directly or indirectly, through any person, firm or corporation, alone or as a member of a partnership or as an officer, director,
stockholder, investor or employee of or consultant to any other corporation or enterprise; engage in the business of developing,
marketing, selling or supporting technology to or for businesses in which the Company engages in or in which the Company has an
actual intention, as evidenced by the Company's written business plans, to engage in, within any geographic area in which the Company
is then conducting such business. Nothing in this Section 6 shall prohibit the Director from being (i) a stockholder in a mutual
fund or a diversified investment company or (ii) a passive owner of not more than three percent of the outstanding stock of any
class of securities of a corporation, which are publicly traded, so long as the Director has no active participation in the business
of such corporation.

 

(d) Insider
Trading Guidelines. Director agrees to execute the Company’s Insider Trading Guidelines in the form attached hereto.

 

(e) Remedies.
The Director agrees that any breach of the terms of this Section 6 would result in irreparable injury and damage to the Company
for which the Company would have no adequate remedy at law; the Director therefore also agrees that in the event of said breach
or any threat of breach, the Company shall be entitled to an immediate injunction and restraining order to prevent such breach
and/or threatened breach and/or continued breach by the Director and/or any and all entities acting for and/or with the Director,
without having to prove damages or paying a bond, in addition to any other remedies to which the Company may be entitled at law
or in equity. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach
or threatened breach hereof, including, but not limited to, the recovery of damages from the Director. The Director acknowledges
that the Company would not have entered into this Agreement had the Director not agreed to the provisions of this Section 6.

 

(f) The provisions
of this Section 6 shall survive any termination of the Directorship Term, and the existence of any claim or cause of action by
the Director against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement
by the Company of the covenants and agreements of this Section 6.

 

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7. Indemnification.
The Company agrees to indemnify the Director for his activities as a member of the Board to the fullest extent permitted under
applicable law.

 

8. Non-Waiver of
Rights. The failure to enforce at any time the provisions of this Agreement or to require at any time performance by the other
party hereto of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect either
the validity of this Agreement or any part hereof, or the right of either party hereto to enforce each and every provision in accordance
with its terms. No waiver by either party hereto of any breach by the other party hereto of any provision of this Agreement to
be performed by such other party shall be deemed a waiver of similar or dissimilar provisions at that time or at any prior or subsequent
time.

 

9. Notices.
Every notice relating to this Agreement shall be in writing and shall be given by personal delivery or by registered or certified
mail, postage prepaid, return receipt requested; to:

 

If to the Company:

 

MCTC Holdings, Inc.

520 S. Grand Ave., Suite 320

Los Angeles, CA 90071

Attn: Arman Tabatabaei, CEO

 

If to the Director:

 

Mr. Robert L. Hymer

520 S. Grand Ave., Suite
320 Los Angeles, CA 90071

 

Either of the parties hereto may change
their address for purposes of notice hereunder by giving notice in writing to such other party pursuant to this Section 9.

 

10. Binding Effect/Assignment.
This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal
representatives, estates, successors (including, without limitation, by way of merger) and assigns. Notwithstanding the provisions
of the immediately preceding sentence, neither the Director nor the Company shall assign all or any portion of this Agreement without
the prior written consent of the other party.

 

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11. Entire Agreement.
This Agreement (together with the other agreements referred to herein) sets forth the entire understanding of the parties hereto
with respect to the subject matter hereof and supersedes all prior agreements, written or oral, between them as to such subject
matter.

 

12. Severability.
If any provision of this Agreement, or any application thereof to any circumstances, is invalid, in whole or in part, such provision
or application shall to that extent be severable and shall not affect other provisions or applications of this Agreement.

 

13. Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to
the principles of conflict of laws. All actions and proceedings arising out of or relating to this Agreement shall be heard and
determined in any court in Los Angeles County, California and the parties hereto hereby consent to the jurisdiction of such courts
in any such action or proceeding; provided, however, that neither party shall commence any such action or proceeding
unless prior thereto the parties have in good faith attempted to resolve the claim, dispute or cause of action which is the subject
of such action or proceeding through mediation by an independent third party.

 

14. Legal
Fees. The parties hereto agree that the non-prevailing party in any dispute, claim, action or proceeding between the
parties hereto arising out of or relating to the terms and conditions of this Agreement or any provision thereof (a
“Dispute”), shall reimburse the prevailing party for reasonable attorney’s fees and expenses incurred by
the prevailing party in connection with such Dispute; provided, however, that the Director shall only be
required to reimburse the Company for its fees and expenses incurred in connection with a Dispute if the Director’s
position in such Dispute was found by the court, arbitrator or other person or entity presiding over such Dispute to be
frivolous or advanced not in good faith.

 

15. Modifications.
Neither this Agreement nor any provision hereof may be modified, altered, amended or waived except by an instrument in writing
duly signed by the party to be charged.

 

16. Tense and Headings.
Whenever any words used herein are in the singular form, they shall be construed as though they were also used in the plural form
in all cases where they would so apply. The headings contained herein are solely for the purposes of reference, are not part of
this Agreement and shall not in any way affect the meaning or interpretation of this Agreement.

 

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17. Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the Company has caused
this Director Agreement to be executed by authority of its Board of Directors, and the Director has hereunto set his hand, on the
day and year first above written.

 

	 	MCTC HOLDINGS, INC.
	 	 
	 	/s/ Arman Tabatabaei
	 	Arman Tabatabaei
	 	Chief Executive Officer and
	 	Director
	 	 
	 	/s/ ROBERT L. HYMERS,
	 	ROBERT L. HYMERS,
	 	DIRECTOR

 

 

7

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