Document:

Exhibit 10.1

 

EXECUTION VERSION

 

DUN & BRADSTREET HOLDINGS, INC.

COMMON STOCK PURCHASE AGREEMENT

 

THIS COMMON STOCK PURCHASE AGREEMENT (the “Agreement”)
is made as of June 23, 2020, by and between Dun & Bradstreet Holdings, Inc., a Delaware corporation (the “Company”),
and DNB Holdco, LLC, a Delaware limited liability company (the “Investor”).

 

THE PARTIES HEREBY AGREE AS FOLLOWS:

 

1.                 
Purchase and Sale of Stock.

 

1.1             
Sale and Issuance of Common Stock. Subject to the terms and conditions of this Agreement, the Investor agrees to
purchase from the Company, and the Company agrees to sell and issue to the Investor, the Shares (as defined below) at a purchase
price per share of 98.5% of the initial public offering price (before underwriting discounts and expenses) in the Qualified IPO
(as defined below) (the “IPO Price”). “Shares” shall mean the number of shares of Common
Stock of the Company, par value $0.0001 (the “Common Stock”), equal to $200,000,000 divided by the IPO Price,
rounded up to the nearest whole share. “Qualified IPO” shall mean the issuance and sale of shares of the Common
Stock by the Company, pursuant to an Underwriting Agreement to be entered into by and among the Company and certain underwriters
(the “Underwriters”), in connection with the Company’s initial public offering pursuant to the Company’s
Registration Statement on Form S-1 (File No. 333-239050) (as amended, the “Registration Statement”) and/or any
related registration statements (the “Underwriting Agreement”).

 

1.2             
Closing. The purchase and sale of the Shares shall take place at the location and at the time subsequent to the closing
of the Qualified IPO (which time and place are designated as the “Closing”) after the satisfaction of each of
the conditions set forth in Section 5 and Section 6 (other than those conditions that by their nature are to be satisfied at the
Closing, but subject to the fulfillment or waiver of those conditions). At the Closing, the Investor shall make payment of the
purchase price of the Shares by wire transfer in immediately available funds to the account specified by the Company against delivery
to the Investor of the Shares registered in the name of the Investor, which Shares shall be uncertificated shares.

 

2.                 
Registration Rights. At the Closing, in connection with the Qualified IPO and purchase of the Shares, the
Company will enter into a registration rights agreement (the “Registration Rights Agreement”) with certain stockholders
of the Company, including the Investor and/or certain entities and individuals that indirectly own equity interests in the Investor.

 

3.                 
Representations and Warranties of the Company. The Company hereby represents and warrants to the Investor
that as of the date hereof and as of the date of the Closing:

 

3.1             
Organization, Good Standing and Qualification.

 

(a)              
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware
and has all requisite corporate power and authority to carry on its business as now conducted.

 

(b)              
The Company is duly qualified to transact business and is in good standing in each jurisdiction in which it is required
to be so qualified or in good standing.

 

     

     

    

 

3.2             
Authorization. All corporate action on the part of the Company, its officers, directors and stockholders necessary
for the authorization, execution and delivery of this Agreement and the Registration Rights Agreement, the performance of all obligations
of the Company under this Agreement, and the authorization, issuance, sale and delivery of the Shares being sold hereunder has
been taken or will be taken prior to the pricing of the Qualified IPO, and this Agreement constitutes and the Registration Rights
Agreement will constitute valid and legally binding obligations of the Company, enforceable in accordance with their respective
terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application
affecting enforcement of creditors’ rights generally (ii) as limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies, and (iii) to the extent the indemnification provisions contained in the Registration
Rights Agreement may be limited by applicable federal or state securities laws.

 

3.3             
Valid Issuance of Common Stock. The Shares being purchased by the Investor hereunder, when issued, sold and delivered
in accordance with the terms of this Agreement for the consideration expressed herein, will be duly and validly issued, fully paid
and nonassessable and will be free of restrictions on transfer other than restrictions on transfer under applicable state and federal
securities laws or as contemplated hereby or by the Registration Rights Agreement.

 

3.4             
Compliance with Other Instruments and Non-Contravention.

 

(a)              
The Company is not in violation or default of any provision of its Amended and Restated Certificate of Incorporation or
Bylaws.

 

(b)              
The Company is not in violation or default in any material respect of any instrument, judgment, order, writ, decree or contract
to which it is a party or by which it is bound, or, any provision of any federal or state statute, rule or regulation applicable
to the Company. The execution, delivery and performance of this Agreement and the Registration Rights Agreement, and the consummation
of the transactions contemplated by this Agreement and the Registration Rights Agreement will not result in any such violation
or default or be in conflict with or constitute, with or without the passage of time and giving of notice, either a default under
any such provision, instrument, judgment, order, writ, decree or contract or an event that results in the creation of any lien,
charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any
material permit, license, authorization, or approval applicable to the Company, its business or operations or any of its assets
or properties.

 

3.5             
Description of Capital Stock. As of the date of the Closing, the statements set forth in the Preliminary Prospectus
(as defined in the Underwriting Agreement) that was included in the Registration Statement immediately prior to the Applicable
Time (as defined in the Underwriting Agreement) and Prospectus (as defined in the Underwriting Agreement) under the caption “Description
of Capital Stock,” insofar as they purport to constitute a summary of the terms of the Company’s capital stock, will
be accurate, complete and fair in all material respects.

 

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3.6             
Registration Statement. The Registration Statement, and any amendment thereto, including any information deemed to
be included therein pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”)
promulgated under the Securities Act of 1933, as amended (the “Securities Act”), complied (or, in the case of
amendments filed after the date of this Agreement, will comply) as of its filing date in all material respects with the requirements
of the Securities Act and the rules and regulations of the SEC promulgated thereunder, and did not (or, in the case of amendments
filed after the date hereof, will not) contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein not misleading. As of the date it is declared effective
by the SEC, the Registration Statement, as so amended, and any related registration statements, will comply in all material respects
with the requirements of the Securities Act and the rules and regulations of the SEC promulgated thereunder, and will not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to
make the statements therein not misleading. Any preliminary prospectus included in the Registration Statement or any amendment
thereto, any free writing prospectus related to the Registration Statement and any final prospectus related to the Registration
Statement filed pursuant to Rule 424 promulgated under the Securities Act, in each case as of its date, will comply in all material
respects with the requirements of the Securities Act and the rules and regulations promulgated thereunder, and will not contain
any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading.

 

3.7             
Brokers or Finders. The Company has not incurred, and will not incur, directly or indirectly, as a result of any
action taken by the Company, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges
in connection with the sale of the Shares contemplated by this Agreement.

 

3.8             
Private Placement. Assuming the accuracy of the representations, warranties and covenants of the Investor set forth
in Section 4 of this Agreement, no registration under the Securities Act is required for the offer and sale of the Shares by the
Company to the Investor under this Agreement.

 

4.                 
Representations, Warranties and Covenants of the Investor. The Investor hereby represents and warrants that
as of the date hereof and as of the date of the Closing:

 

4.1             
Organization, Good Standing and Qualification. The Investor is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware.

 

4.2             
Authorization. The Investor has full power and authority to enter into this Agreement, and such agreement constitutes
a valid and legally binding obligation of the Investor, enforceable in accordance with its terms except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally and (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other
equitable remedies.

 

    3

     

    

 

4.3             
Purchase Entirely for Own Account. By the Investor’s execution of this Agreement, the Investor hereby confirms,
that the Shares to be received by the Investor will be acquired for investment for the Investor’s own account, not as a nominee
or agent, and not with a view to the distribution of any part thereof, and that the Investor has no present intention of selling,
granting any participation in, or otherwise distributing the same, except as permitted by applicable federal or state securities
laws. By executing this Agreement, the Investor further represents that the Investor does not have any contract, undertaking, agreement
or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to
any of the Shares. Notwithstanding the foregoing, the Shares may be distributed to (i) entities and individuals that directly and/or
indirectly own equity interests in the Investor or (ii) entities in which the Investor directly and/or indirectly owns equity interests
(the “Affiliated Holders”).

 

4.4             
Disclosure of Information. The Investor believes it has received all the information it considers necessary or appropriate
for deciding whether to purchase the Shares. The Investor further represents that it has had an opportunity to ask questions and
receive answers from the Company regarding the terms and conditions of the offering of the Shares and the business, properties,
prospects and financial condition of the Company. The foregoing, however, does not limit or modify the representations and warranties
of the Company in Section 3 of this Agreement or the right of the Investor to rely thereon.

 

4.5             
Investment Experience. The Investor acknowledges that it is able to fend for itself, can bear the economic risk of
its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits
and risks of the investment in the Shares. Investor also represents it has not been organized for the purpose of acquiring the
Shares.

 

4.6             
Accredited Investor. The Investor is an “accredited investor” within the meaning of Regulation D, Rule
501(a), promulgated by the SEC under the Securities Act, as presently in effect.

 

4.7             
Existing Relationship. As of the date hereof, the Investor owns equity interests in Star Parent, L.P., which owns
all of the Company’s Common Stock.

 

4.8             
Brokers or Finders. The Investor has not engaged any brokers, finders or agents, and neither the Company nor the
Investor has, nor will, incur, directly or indirectly, as a result of any action taken by the Investor, any liability for brokerage
or finders’ fees or agents’ commissions or any similar charges in connection with this Agreement.

 

4.9             
Restricted Securities. The Investor understands that the Shares will be characterized as “restricted securities”
under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public
offering and that under such laws and applicable regulations such securities may be resold without registration under the Securities
Act, only in certain limited circumstances.

 

4.10         
Market Stand-Off Agreement; Lock-Up Agreement. The Investor hereby agrees that for 180 days following the effective
date of the Registration Statement, it shall not sell or otherwise transfer or dispose of the Shares, other than to (a) Affiliated
Holders or (b) with the consent of the Company. To the extent any Affiliated Holder has executed and delivered to the Underwriters
the lock-up agreement provided by the Company (the “Lock-Up Agreement”), the Shares received by such Affiliated Holder
pursuant to any transfer will be subject to the terms of the Lock-Up Agreement. In order to enforce this covenant, the Company
shall have the right to place restrictive legends on the certificates or book-entry accounts representing the Shares (including
the Shares distributed to Affiliated Holders, to the extent applicable) and to impose stop transfer instructions with respect to
such Shares until the end of such period.

 

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4.11         
Legends. The Investor understands that the Shares may bear one or all of the following legends:

 

(a)              
“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR UNDER THE SECURITIES LAWS OF ANY OTHER JURISDICTIONS. THESE SECURITIES MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED
UNDER THE ACT, APPLICABLE STATE SECURITIES LAWS (PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM).”

 

(b)              
“THESE SHARES ARE SUBJECT TO A 180 DAY MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN AGREEMENT BETWEEN THE
ISSUER AND THE INVESTOR, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT,
THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE EFFECTIVE DATE OF ANY PUBLIC OFFERING OF THE COMMON STOCK OF THE ISSUER
HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES OF THESE SHARES.”

 

(c)              
Any legend required by applicable state “blue sky” securities laws, rules and regulations.

 

5.                 
Conditions of the Investor’s Obligations at Closing. The obligations of the Investor under subsection
1.1 of this Agreement are subject to the fulfillment on or before the Closing of each of the following conditions.

 

5.1             
Representations and Warranties. The representations and warranties of the Company shall be true on and as of the
Closing.

 

5.2             
Public Offering Shares. The Underwriters shall have purchased the Firm Shares (as defined in the Underwriting Agreement)
pursuant to the Registration Statement and Underwriting Agreement.

 

5.3             
Absence of Injunctions, Decrees, Etc. During this period from the date of this Agreement to immediately prior to
the Closing, no governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any
decision, injunction, decree, ruling, law or order permanently enjoining or otherwise prohibiting or making illegal the consummation
of the transactions contemplated at the Closing.

 

    5

     

    

 

6.                 
Conditions of the Company’s Obligations at Closing. The obligations of the Company under subsection
1.1 of this Agreement are subject to the fulfillment on or before the Closing of each of the following conditions.

 

6.1             
Representations, Warranties and Covenants. The representations, warranties and covenants of the Investor contained
in Section 4 shall be true on and as of the Closing.

 

6.2             
Public Offering Shares. The Underwriters shall have purchased the Firm Shares pursuant to the Registration Statement
and Underwriting Agreement.

 

6.3             
Absence of Injunctions, Decrees, Etc. During this period from the date of this Agreement to immediately prior to
the Closing, no governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any
decision, injunction, decree, ruling, law or order permanently enjoining or otherwise prohibiting or making illegal the consummation
of the transactions contemplated at the Closing.

 

7.                 
Termination. This Agreement shall terminate (i) at any time upon the written consent of the Company and the
Investor, (ii) upon the withdrawal by the Company of the Registration Statement, or (iii) on August 31, 2020 if the Closing has
not occurred.

 

8.                 
Miscellaneous.

 

8.1             
Survival of Warranties. The warranties, representations and covenants of the Company and the Investor contained in
or made pursuant to this Agreement shall survive the execution and delivery of this Agreement and the Closing and shall in no way
be affected by any investigation of the subject matter thereof made by or on behalf of the Investor or the Company.

 

8.2             
Successors and Assigns. This Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned,
transferred, delegated or sublicensed by the Investor without the prior written consent of the Company; provided, however, that
after the Closing, the Shares and the rights, duties and obligations of the Investor hereunder may be assigned to Affiliated Holders
without the prior written consent of the Company. Subject to the foregoing and except as otherwise provided herein, the provisions
of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators
of the parties hereto.

 

8.3             
Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of New York.

 

8.4             
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be enforceable against
the parties actually executing such counterparts, and all of which together shall constitute one instrument.

 

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8.5             
Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed
by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to the Investor or any other holder
of Company securities) or otherwise delivered by hand, messenger or courier service addressed:

 

(a)              
if to the Investor, to the attention of the Investor to Michael L. Gravelle, c/o Cannae Holdings, Inc., 1701 Village Center
Circle, Las Vegas, Nevada 89134 or MGravelle@fnf.com.

 

(b)              
if to the Company, to the attention of the Chief Legal Officer of the Company at 103 John F. Kennedy Parkway, Short Hills,
New Jersey 07078 or ReinhardtJ@DNB.com, or at such other current address or electronic mail address as the Company shall have furnished
to the Investor.

 

Each such notice or other communication shall for all purposes
of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger or courier service, when delivered
(or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying next-business-day delivery, one
business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt or five days after the same
has been deposited in a regularly-maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid,
or (iii) if sent via electronic mail, when directed to the relevant electronic mail address, if sent during normal business hours
of the recipient, or if not sent during normal business hours of the recipient, then on the recipient’s next business day.
In the event of any conflict between the Company’s books and records and this Agreement or any notice delivered hereunder,
the Company’s books and records will control absent fraud or error.

 

8.6             
Brokers or Finders. The Company shall indemnify and hold harmless the Investor from any liability for any commission
or compensation in the nature of a brokerage or finder’s fee or agent’s commission (and the costs and expenses of defending
against such liability or asserted liability) for which the Investor or any of its constituent partners, members, officers, directors,
employees or representatives is responsible to the extent such liability is attributable to any inaccuracy or breach of the representations
and warranties contained in Section 3.7, and the Investor agrees to indemnify and hold harmless the Company and the Investor from
any liability for any commission or compensation in the nature of a brokerage or finder’s fee or agent’s commission
(and the costs and expenses of defending against such liability or asserted liability) for which the Company, the Investor or any
of their constituent partners, members, officers, directors, employees or representatives is responsible to the extent such liability
is attributable to any inaccuracy or breach of the representations and warranties contained in Section 4.8.

 

8.7             
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent
of the Company and the Investor.

 

8.8             
Severability. If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be
illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be
severed from this Agreement, and such court will replace such illegal, void or unenforceable provision of this Agreement with a
valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the
illegal, void or unenforceable provision. The balance of this Agreement shall be enforceable in accordance with its terms.

 

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8.9             
Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement among the parties
with respect to the subject matter hereof. No party shall be liable or bound to any other party in any manner with regard to the
subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

 

[Remainder of page intentionally left
blank]

 

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IN WITNESS WHEREOF, the parties have executed this Common
Stock Purchase Agreement as of the date first above written.

 

	 	DUN & BRADSTREET HOLDINGS,
    INC.
	 	 	 
	 	By:	  /s/ Joe A. Reinhardt
	 	Name:   	  Joe A. Reinhardt
	 	Title:	  CLO

 

[Signature page to the Stock Purchase
Agreement]

 

    

     

    

 

IN WITNESS WHEREOF, the parties have executed this Common
Stock Purchase Agreement as of the date first above written.

 

	 	INVESTOR:
	 	 	 
	 	DNB HOLDCO, LLC
	 	 	 
	 	By:	  /s/ Richard L. Cox
	 	Name:   	  Richard L. Cox
	 	Title:	  President

 

[Signature page to the Stock Purchase
Agreement]Exhibit
10.1

 

EXECUTIVE
SEPARATION AGREEMENT

 

THIS
EXECUTIVE SEPARATION AGREEMENT (“Agreement”) is made and entered into as of June 25, 2020 (the “Effective
Date”) by and between Eastside Distilling, Inc. (the “Company”) and LAWRENCE FIRESTONE (“Executive”)
(collectively, the “Parties”) with reference to the following:

 

WHEREAS,
the Company and the Executive have mutually agreed to transition their relationship;

 

NOW,
THEREFORE, in consideration of the mutual covenants and promises contained herein, the sufficiency of which is acknowledged by
the Company and the Executive, the Executive and Company agree as follows:

 

1.
Cessation of Services and Board Resignation. Executive hereby resigns from the Board of Directors of the Company (the “Board”)
effective July 30, 2020. Executive will resign as Chief Executive Officer of the Company, effective upon the appointment of a
new Chief Executive Officer by the Board, which the Board will cause no later than July 1, 2020. The Parties agree that Executive’s
employment will be terminated by the Company “without Cause,” as defined in Section 6 of that Executive Employment
Agreement, dated November 12, 2019, between the Company and the Executive (the “Employment Agreement”). Executive
will receive (a) Executive’s Base Salary (paid until December 31, 2020 in installments in accordance and under the regular
payroll schedule of the Company), (b) continuation of existing health benefits until the first anniversary of this Agreement and
(c) continued vesting of his RSUs granted or to be granted under the Employment Agreement through December 31, 2020, in each case
in accordance with the Employment Agreement as follows: the equivalent of $25,000 of RSU’s for the quarter ending June 30,
$25,000 of RSU’s for the quarter ending September 30 and $25,000 of RSU’s for the quarter ending December 31, all
to vest on the date of grant. Executive will also receive any unreimbursed business expenses, unpaid salary, accrued vacation
or paid time off required to be paid under applicable law.

 

2.
General Release of Claims by Executive. Executive hereby voluntarily, knowingly and willingly releases, acquits and forever
discharges the Company, including all of the Company’s affiliated entities, and all of their former, current and future
agents, managers, employees, officers, directors, shareholders, investors, joint ventures, attorneys, representatives, predecessors,
successors, assigns, owners and servants from any and all claims, costs or expenses of any kind or nature whatsoever, whether
known or unknown, foreseen or unforeseen, including without limitation, any contract or tort claims or any claims under the Americans
with Disabilities Act, Title VII of the Civil Rights Act, the Family and Medical Leave Act, the Employee Retirement Income Security
Act, the Age Discrimination in Employment Act, any constitution or statute, or under common law, which against any or all of them
Executive ever had, now has or hereinafter may have, up to and including the date of Executive’s execution of this Agreement,
including, without limitation, those arising out of or in any way related to Executive’s employment at the Company, service
on the Board, the termination of Executive’s employment from the Company or termination of service on the Board, including,
without limitation any claim to options, stock or shares in the Company. Notwithstanding the foregoing, the following claims are
excluded from release under this Section 2: Claims pursuant to this Agreement, claims under benefit plans, any right to indemnification
(including advancement of expenses), any right to insurance maintained by the Company or otherwise, and any right to exercise
stock options or receive restricted stock units pursuant to the relevant provisions of the equity agreements. Nothing in this
Agreement shall operate to limit or extinguish any right to indemnification, advancement of expenses or contribution that Executive
would otherwise have, including, but not limited to, by agreement, insurance or under applicable law.

 

    	 

     

    

 

Nothing
in this Agreement prevents Executive from filing a charge or complaint with or from participating in an investigation or proceeding
conducted by any federal, state or local agency charged with the enforcement of any employment laws, although by signing this
Agreement Executive waives rights to individual relief based on claims asserted in such a charge or complaint. This waiver does
not apply if it is otherwise prohibited by law, including whistleblower awards under Section 21F of the Securities Exchange Act.

 

3.
General Release of Claims by Company. The Company hereby voluntarily, knowingly and willingly releases, acquits and forever
discharges the Executive, including all of his former, current and future agents, attorneys, representatives, predecessors, successors,
assigns and heirs from any and all claims, costs or expenses of any kind or nature whatsoever, whether known or unknown, foreseen
or unforeseen, including without limitation, any contract or tort claims or any claims under any constitution or statute, or under
common law, which against any or all of them the Company ever had, now has or hereinafter may have, up to and including the date
of the Company’s execution of this Agreement, including, without limitation, those arising out of or in any way related
to Executive’s employment at the Company, service on the Board, the termination of Executive’s employment from the
Company or termination of service on the Board. Notwithstanding the foregoing, the following claims are excluded from release
under this Section 3: Claims for knowing violations of law and receiving an improper personal benefit, fraud or theft. The release
by the Company under this Section 3 is additional consideration not provided for in the Employment Agreement.

 

4.
Nonsolicitation and Noncompetition during Severance Period. Executive agrees that beginning on the Effective Date and ending
on December 31, 2020 (the “Severance Period”), Executive shall not, directly or indirectly or solicit, or attempt
to solicit, any employee of, or consultant to, the Company, to work for, contract with, became a partner with or otherwise be
retained by Executive or any other person, company, firm organization or other entity. Executive further agrees that during the
Severance Period, he will not directly or indirectly, solicit any customers or potential customers of the Company with whom Executive
had contact with on behalf of the Company, or cause such customers or potential customers to reduce, cease or not to do business
with the Company. Additionally, Executive acknowledges the goodwill the Company has built up in conjunction with its business
operations, at significant time and expense to the Company. Executive therefore agrees that, during the Severance Period, Executive
will not, directly or indirectly, for any person or entity, aid or assist in any manner, any person or entity that engages in
a business which is competitive with the business of the Company, in any market or in any geographic area in which the Company
conducts business; provided, however, Executive may own, directly or indirectly, solely as an investment, securities of any company
which is registered on any national securities exchange or actively traded in a generally recognized over the counter market so
long as Executive owns less than two percent (2%) of the outstanding securities of such company.

 

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5.
Non-disparagement. During the Severance Period, the Executive will not disparage or otherwise make derogatory statements
regarding the Company or any of its affiliates, shareholders, financing sources, officers, directors, managers or employees or
business relationships, and shall communicate any opinions concerning the foregoing parties in a professional manner. Likewise,
the Company will not disparage or otherwise make derogatory statements regarding the Executive. This Section does not in any way
restrict or impede the Executive or the Company from exercising protected rights to the extent that such rights cannot be waived
by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or
an authorized government agency, provided that such compliance does not exceed that required by the law, regulation, or order.

 

6.
Cooperation and Provision of Transition Services during the Severance Period. Executive agrees to assist and cooperate
with the Company, to the extent reasonably requested by Company as needed with any transfer of duties, and further assist and
act as a consultant or advisor to the Company to the extent reasonably requested by Company from time to time with any ongoing
questions or issues or matters which may arise during the Severance Period. Executive shall not be required to travel to fulfill
this obligation and the Company shall reimburse Executive for reasonable out of pocket expenses, if any, incurred in connection
with this cooperation.

 

7.
Confidentiality. Absent prior express written approval and permission of Company, Executive will keep confidential and
not make public or reveal to any person or entity any information regarding the terms or existence of this Agreement, including,
without limitation, this Agreement or the payment Executive is receiving under it. This confidentiality proscription shall not
apply to Executive providing any such information to Executive’s immediate family, attorney, accountant, tax consultant
and/or the duly designated taxing authorities or unless otherwise compelled to disclose such information by law. This confidentiality
provision shall not apply to any information disclosed by the Company is an SEC filing.

 

8.
Confidential Information. In the course of Executive’s employment with Company, including prior to the date of this
Agreement, Executive had access to confidential and proprietary information of the Company including, without limitation, records,
data, marketing information, financial information, billing and revenue information, client lists and information, information
regarding vendors and suppliers, production processes, research and development and other trade secrets of Company (“Confidential
Information”). Executive shall not directly or indirectly disclose Confidential Information to any person or entity
or use any Confidential Information in any way. This Paragraph 8 shall supplement any previously executed nondisclosure and confidentiality
agreements executed between Executive and the Company. Nothing in this Agreement, however, will preclude Executive from providing
information to, or reporting potentially illegal activity to, any governmental agency.

 

9.
Breach or Misrepresentation. In the event of any breach by Executive of any provision of this Agreement, Company shall
be entitled to seek a decree of specific performance against Executive. Such remedy, however, shall be cumulative and non-exclusive
and shall be in addition to any other remedy to which Company may be entitled.

 

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10.
Miscellaneous:

 

(a)
Executive represents and warrants that he has not assigned or transferred, or purported to assign or transfer, to any person,
firm, corporation or entity any claim or other matter released by this Agreement. Executive agrees to indemnify Company and anyone
else released by this Agreement and hold them harmless against any claims, costs or expenses, including, without limitation, attorneys’
fees actually paid or incurred, arising out of, related to or in any manner whatsoever connected with any such transfer of assignment
or purported to claimed transfer or assignment.

 

(b)
This Agreement sets forth the entire agreement between Executive and Company and fully supersedes any and all prior agreements
or understanding between them pertaining to the subject matter of this Agreement. It may not be altered, modified, amended or
changed, in whole or in part, except in writing executed by Executive and Company.

 

(c)
Should any provision or term or part of a provision or term, of this Agreement be declared or determined by any court to be illegal
or invalid, the validity of the remaining parts, provision or terms shall not be affected thereby and said illegal or invalid
part, provision or term shall not be deemed to be a part of this Agreement.

 

(d)
Choice of Law and Forum. This Agreement will be governed, subject to and interpreted according to the laws of the State
of Oregon without reference to principles of conflicts of laws. Each party to this Agreement expressly consents to the personal
and exclusive jurisdiction of the State and Federal courts of Oregon and each party to this Agreement agrees that the venue for
any dispute under this Agreement will be the State and Federal courts of Oregon.

 

(e)
Executive acknowledges that: (i) Executive fully understands the terms of this Agreement including, without limitation, the significance
and consequences of the General Release in Paragraph 2, above; (ii) Executive is executing this Agreement in exchange for consideration
in addition to anything of value to which Executive is already entitled; (iii) Executive has been notified he is free to consult
with counsel as to the terms of this Agreement; and (iv) Executive is fully satisfied with the terms of this Agreement and is
executing this Agreement voluntarily, knowingly and willingly and without duress.

 

(f)
Executive represents that he has not suffered a work-related injury or illness which would be compensable under Oregon’s
Workers’ Compensation system.

 

(g)
Nothing contained in this Agreement nor the fact that the parties sign this Agreement shall be considered as an admission of any
type by either party.

 

(h)
This Agreement may be executed in counterparts. A photocopy, facsimile or “pdf” of any signature to this Agreement
shall be equal and valid as the original.

 

    	- 4 -

     

    

 

11.
Acknowledgement of Waiver of Claims Under ADEA. Executive acknowledges that Executive is waiving and releasing any rights
Executive may have against the Releasees for monetary damages under the Age Discrimination in Employment Act of 1967 (“ADEA”)
and that this waiver and release is knowing and voluntary. Executive and the Company agree that this waiver and release does not
apply to any rights or claims that may arise under the ADEA after the Termination Date. Executive acknowledges that the consideration
given for this Agreement is in addition to anything of value to which Executive was already entitled. Executive further acknowledges
that Executive has been advised by this writing that:

 

(a)
Executive should consult with an attorney prior to executing this Separation Agreement;

 

(b)
Executive has up to twenty-one (21) days within which to consider this Separation Agreement;

 

(c)
Executive has seven (7) days following his execution of this Separation Agreement to revoke this Separation Agreement;

 

(d)
this ADEA waiver shall not be effective until the revocation period has expired; and,

 

(e)
nothing in this Separation Agreement prevents or precludes Executive from challenging or seeking a determination in good faith
of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless
specifically authorized by federal law.

 

    	- 5 -

     

    

 

IN
WITNESS HEREOF, this Executive Separation Agreement is entered into and executed by the parties on the date set forth below.

 

	Eastside
    Distilling, Inc. (“Company”)	 	(“Executive”)
	 	 	 
	By:	 Paul R. Block

        
	 	Print
    Name:	LAWRENCE
        FIRESTONE

        

	 	 	 	 	 
	Title:	Chairman
    of the Board	 	Signature:	/s/
    Lawrence Firestone
	 	 	 	 	 
	Signature:	/s/
    Paul R. Block	 	 	 
	 	 	 	 	 
	Dated:	June
    25, 2020 	 	Dated:	June
    25, 2020

 

    	- 6 -

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