Document:

Exhibit 10.51

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT
TREATS AS PRIVATE OR CONFIDENTIAL BECAUSE IT WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

AMENDMENT
NO. 2 

TO

LICENSE
AGREEMENT

 

THIS AMENDMENT NO. 2 TO THE LICENSE AGREEMENT
(the “Amendment No. 2”) is effective as of August 1, 2021, and is entered into by and between ABG-SI LLC (“Licensor”),
on the one hand, and GSP Nutrition, Inc. (“Licensee”), on the other hand, concerning that certain License Agreement
dated as of January 1, 2020 (the “Original Agreement”) and amended as of June 1, 2020 (“Amendment No. 1”
and together with the Original Agreement, the “Agreement”).

 

In consideration of the mutual covenants and agreements
hereinafter contained on the part of each of the parties hereto to be kept, observed and performed, and for such other good and valuable
consideration, receipt and sufficiency of which is hereby acknowledged, the parties hereto covenant and agree as follows:

 

1. Defined
Terms. Except as otherwise defined herein, all capitalized terms used herein shall have the meaning ascribed to them in the Agreement.
For the avoidance of doubt, from and after the date hereof, references to the Agreement in both the Agreement and this Amendment No. 2
shall refer to the Agreement as modified by the terms of this Amendment No. 2.

 

2. Notice
of Breach of Agreement. Licensor and Licensee hereby agree that on August 6, 2021, in conformity with the notice provisions of
the License Agreement, Licensor sent written notice to Licensee (“Notice of Breach”) that Licensee was in breach of the
License Agreement (“Breach”) for failure to pay to Licensor the aggregate sum of [***] United States Dollars and [***]
United States Cents ($[***] USD), representing an aggregate portion of the Contract Year 2 (2021) GMR and CMF, in accordance with the
dates set forth therein (the “Past-Due Balance”). Pursuant to the License Agreement, Licensee had five (5) business days
to cure the Breach by paying the Past-Due Balance, in full, to Licensor, pursuant to the terms of the License Agreement and the Breach
Notice.

 

3. Payments
of GMR to Licensor.

 

(a) Licensor
and Licensee hereby acknowledge and agree that, as of the date hereof, Licensee has not paid to Licensor the Past-Due Balance as and when
required pursuant to the Notice of Breach. Notwithstanding the foregoing, (i) this Amendment No. 2 shall be deemed as Licensor’s and Licensee’s
mutual agreement that Licensee’s payment of the Past-Due Balance to Licensor shall be made in accordance with Section 2(b) of this Amendment
No. 2 below, and (ii) the remaining Contract Year 2 (2021) GMR and CMF owed by Licensee to Licensor under the Agreement (including the
Past-Due Balance) is equal to an aggregate amount of [***] United States Dollars and [***] United States Cents ($[***] USD) (“CY2
Remaining GMR & CMF”).

 

(b) [***].

 

(c) [***].

 

(d) Licensor
and Licensee hereby acknowledge and agree that beginning with Contract Year 3 (2023) and continuing throughout the remainder of the Term
thereafter, Licensee shall pay the respective GMR to Licensor in accordance with Section 15(a)(ii)(B) of the Commercial Terms of the Agreement.

 

(e) [***].

 

4. Assignment.
Notwithstanding anything contained in this Agreement to the contrary, Licensor and Licensee hereby acknowledge and agree that: (a) the
Agreement is a personal services contract under which Licensor is relying on performance by Licensee, in which Licensor has placed its
trust and confidence, (b) Licensee provides unique goods and services under this Agreement that are personal in nature to the Licensee,
and (c) Licensor is relying on Licensee’s performance in particular under this Agreement and would be irreparably harmed by the assignment
of this Agreement by Licensee without Licensor’s prior written consent. Licensor and Licensee further hereby acknowledge and agree that
(i) this Agreement is subject to applicable law governing trademarks, including 15 U.S.C. § 1051 et seq. (the “Lanham Act”),
(ii) under applicable law, this Agreement shall not be assignable by Licensee without Licensor’s prior written consent, and (iii) Licensor
is relying on the restrictions on assignability under applicable law, including the Lanham Act, and under this Agreement, to allow Licensor
to satisfy its duty to control the quality of goods sold under the Licensed Property. Licensor and Licensee further hereby acknowledge
and agree that as a result of the foregoing, in the event that Licensee becomes a debtor in a bankruptcy case under 11 U.S.C. § 101
et seq. (the “Bankruptcy Code”), (x) this Agreement shall not be assignable by Licensee without Licensor’s consent, pursuant
to section 365(c)(1) of the Bankruptcy Code, and (y) Licensor shall be permitted to exercise its right to terminate this Agreement, pursuant
to section 365(e)(2) of the Bankruptcy Code.

 

     

     

    

 

5. Notices.
From and after the date hereof, Section 15(c) of the Standard Terms of the Agreement shall be deleted in its entirety and replaced with
the following:

 

“(c) Licensor’s Addresses
for Notices. All Notices to Licensor shall be delivered to Licensor as follows:

 

		(i)	If to Licensor for questions about submitting Approval requests:

c/o Authentic
Brands Group, LLC

1411 Broadway, 21st Floor

New York, NY 10018

Attention: Approval Department

Email:

Facsimile Number:

 

		(ii)	If to Licensor for questions about submitting Reports:

c/o Authentic
Brands Group, LLC

1411 Broadway, 21st
Floor

New York, NY 10018

Attention: Finance Department

Email:

Facsimile Number:

 

		(iii)	If to Licensor for any other reason:

c/o Authentic Brands Group, LLC

1411 Broadway, 21st
Floor

New York, NY 10018

Attention: Legal Department

Email:

Facsimile Number: “

 

6. Miscellaneous.

 

(a) Except
as modified by this Amendment No. 2, all terms and conditions of the Agreement shall remain in full force and effect. For the avoidance
of doubt, this Amendment No. 2 and the terms hereof constitute Confidential Information under the Agreement.

 

(b) This
Amendment No. 2 may be signed in two (2) or more counterparts, each of which shall be deemed an original but all of which together shall
constitute one (1) and the same instrument. Facsimile, photographic and/or PDF copies of counterpart signature pages shall be deemed original
counterpart pages for all purposes hereunder. Each of the parties agrees that an electronic signature evidencing a party’s execution of
this Amendment No. 2 shall be effective as an original signature and may be used in lieu of the original for any purpose.

 

(c) This
Amendment No. 2 and the legal relations among the parties hereto shall be governed by, and construed in accordance with, the state laws
of the State of New York (including, without limitation, witt1 respect to full faith and credit accorded to the United States federal
laws, e.g., the United States Lanham Act), notwithstanding any conflict of law provisions to the contrary.

 

(d) In
the event one (1) or more of the provisions of this Amendment No. 2, should, for any reason, be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Amendment No. 2, and this
Amendment No. 2, shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

 

    2

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed
this Amendment No. 2 as of the date first set forth above.

 

AGREED AND ACCEPTED

 

	“Licensor”	 	“Licensee”
	ABG-SI LLC	 	GSP Nutrition, Inc.
	 	 	 	 	 
	By:	/s/ Jay Dubiner	 	By:	/s/ Stuart Benson
	Print: 	Jay Dubiner	 	Print: 	Stuart Benson
	Title:	General Counsel	 	Title:	CEO and Co-Chairman
	Date:	8/14/2021 12:01 PM EDT	 	Date:	8/12/2021

 

 

3Exhibit 10.52

 

 

 

 

 

 

 

 

 

BONNE SANTÉ GROUP, INC.

 

FUTURE EQUITY 

AGREEMENT

 

 

     

     

    

 

 

 

BONNE SANTÉ GROUP,
INC.

 

FUTURE EQUITY AGREEMENT

 

This Future
Equity Agreement (this “Agreement”), dated as of March 6th, 2018, is by and among Bonne Santé Group,
Inc., a Delaware corporation (the “Company”), and the persons and entities listed on Exhibit A hereto (each
a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, the Company
desires to raise capital through the sale and issuance of secured promissory notes (each a “Note” and collectively,
the “Notes”) to the Purchasers and the Purchasers desire to acquire the Notes, all on the terms and conditions set
forth herein and

 

WHEREAS, in
order to induce the Purchaser to purchase a Note, the Company agrees to issue additional consideration in cash or equity based on certain
events.

 

NOW, THEREFORE,
in consideration of the mutual promises, representations, warranties, covenants, and conditions set forth in this Agreement, the parties
to this Agreement mutually agree as follows:

 

1. 
In conjunction with the issue of a Note, the Purchaser shall also receive upon the first to occur of (a) a Sale of the Company
or (b) the Company’s initial public offering (“IPO”), additional consideration as follows: in the event of a
Sale of the Company, the Company will pay Holder a cash fee equal to the original principal amount of the Note, and in the event of the
IPO, the Company will provide the Holder with the right to choose to cause the Company to issue to Holder (a) the number of shares of
common stock of the Company equal to the original principal amount of the Note divided by the price per share at which common stock is
sold in the IPO, delivered at closing of the IPO, or (b) that same number of shares issued 1/3rd at IPO, 1/3rd on the twelve
month anniversary and 1/3rd on the 24 month anniversary.

 

2. The Company shall have no
obligation to issue any equity securities to the Purchaser unless and until the Purchaser shall have completed, signed and returned the
Election Form appended hereto.

 

2.  A
“Sale of the Company” means any of the following: (i) a transaction or series of related transactions with one or
more non-affiliates, pursuant to which such non- affiliate(s) acquires capital stock of the Company or the surviving entity
possessing the voting power to elect a majority of the board of directors or a majority of the outstanding capital stock of the
Company or the surviving entity (whether by merger, consolidation, sale or transfer of the Company’s outstanding capital stock
or otherwise); or (ii) the sale, lease or other disposition (including exclusive license) of all or substantially all of the
Company’s assets or any other transaction resulting in all or substantially all of the Company’s assets being converted
into securities of any other entity or cash. Notwithstanding the foregoing, the sale by the Company of its capital stock for the
purpose of financing the Company’s business is not and will not be deemed to be a Sale of the Company.

 

3.
Restrictions on Resale. The Purchaser covenants and agrees that in the event he is issued equity securities of the Company,
(a) the Purchaser will not sell any such securities within 180 days of the closing of the IPO and (b) after such time, the Purchaser will
not sell more than 1/12th of the aggregate position in any calendar month. For the avoidance of doubt, if Purchaser does not sell 1/12th
of his position in a month, then the right to sell does not “roll over” or accrue but remains at 1/12th per month.

 

4.
Governing Law. This Agreement is being delivered in and shall be construed in accordance with the laws of the State of Delaware,
without regard to its conflicts of laws or choice of law provisions.

 

5.
Notices. Any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively
given upon personal delivery or three business days following deposit with the United States Post Office, by registered or certified mail,
postage prepaid, or sent by confirmed facsimile or electronic mail, addressed to the address of the receiving party set forth in the Purchase
Agreement or at such other address as the recipient shall have furnished in writing in accordance with this Section.

 

6.
Assignment. This Agreement may only be assigned by the Purchaser to an accredited investor in the United States within the
meaning of the Securities Act of 1933 or qualified non-U.S. persons. The Purchaser agrees to indemnify the Company for any damages, expenses
(including attorney’s fees), fines or other action caused by breach of this section.

 

[SIGNATURE PAGE FOLLOWS]

 

    2

     

    

 

This Future Equity Agreement is
executed and delivered the day and year first above written.

 

	 	COMPANY:
	 	 
	 	BONNE SANTÉ GROUP, INC.
	 	 	 
	 	By:	/s/ Alfonso J. Cervantes
	 	Name: 	Alfonso J. Cervantes
	 	Title:	Executive Vice Chairman

 

    3

     

    

 

ELECTION FORM

 

The undersigned elects to have
any additional equity consideration paid as follows:

 

		☒	Upon closing of the IPO.

 

		☐	1/3rd
                                            at IPO, 1/3rd on the twelve-month
                                            anniversary and 1/3rd on the 24-month anniversary of
                                            the IPO.

 

Capitalized terms used but not defined
herein have the meanings ascribed to them in the Future Equity Agreement to which this Election Form is appended.

 

If the undersigned is an entity:

 

	Name of Entity: 	Ionic Ventures,
LLC	 
	 	 	 
	By:	/s/ Brendan O’Neil	 
	Name: 	Brendan O’Neil	 
	Title: 	Partner	 
	Date:	March 6, 2018	 

 

If the undersigned is an individual:

 

	 Name:	 	 
	
Signature	 	 
	Date:	 	 

 

    4

     

    

 

Exhibit A

 

Schedule of Purchasers

 

Dated as of: 3/08/18

 

	Name and Address of Purchaser	 	Principal Amount 

of Note – Initial

 Closing	 	 	Purchase

Price – Initial

Closing
	 
	American IRA LLC	 	$	75,000	 	 	$	75,000	 
	Barry T. Cervantes	 	$	100,000	 	 	$	100,000	 
	Dewey Villard Ventures LLC	 	$	100,000	 	 	$	100,000	 
	Ionic Ventures, LLC	 	$	200,000	 	 	$	200,000	 
	TOTAL:	 	$	475,000	 	 	$	475,000	 

 

 

5

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