Document:

Exhibit
10.32 

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement (this “Agreement”)
is entered into by and between HUMBL, Inc., a Delaware corporation (the “Company”), and Javier Gonzalez, an individual
(“Employee”), effective as of June 3, 2021 (the “Effective Date”).

 

In
consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereof agree as follows:

 

1.
Employment. The Company hereby employs Employee, and Employee hereby accepts such employment, on the terms and conditions of this
Agreement.

 

2.
Term. By signing this Agreement, Employee reiterates his intention to remain employed with the Company for a period of time beginning
on the Effective Date and ending on the date that is eighteen (18) months from the Effective Date (the “Initial Term”),
unless earlier terminated pursuant to Section 6 below. Following the Initial Term, this Agreement will remain in effect until terminated
by either party with fifteen (15) days’ prior written notice (the time during which Employee is employed by the Company is referred
to hereinafter as the “Term”).

 

3.
Duties.

 

3.1.
General Duties. Employee shall be employed as the Chief Technology Officer of the Company, and shall have such duties, responsibilities
and obligations as are established by the Company or are generally required of persons employed in similar positions. Employee shall
also perform such other services and duties for the Company which are appropriate and customary to the offices and positions held by
Employee and assigned or delegated to him from time to time by the Company. Employee shall report directly to the Company’s Chief
Executive Officer, Brian Foote.

 

3.2.
Performance. To the best of his ability and experience, Employee will at all times during the Term loyally and conscientiously
perform all duties, and discharge all responsibilities and obligations, required of and from him pursuant to the express and implicit
terms hereof, and to the reasonable satisfaction of the Company. Employee shall devote substantially all his business time, energy, skill
and attention to the business of the Company, and the Company shall be entitled to all of the benefits and profits arising from or incident
to all such work, services, and advice of Employee rendered to the Company during the Term.

 

4.
Compensation and Benefits.

 

4.1.
Salary. The Company shall pay to Employee an annual base salary of $150,000.00 (“Annual Base Salary”). Employee’s
Annual Base Salary, which shall be prorated for any partial employment period, will be payable in equal bi-weekly installments or at
such other intervals as may be established for the Company’s customary payroll schedule, less all applicable federal, state and
local income and employment tax withholdings required by law.

 

4.2.
Employee Benefits. During the Term, Employee will be entitled to participate in the employee benefit plans currently and hereafter
maintained by the Company of general applicability to other similarly situated employees of the Company. The Company reserves the right
to cancel or change the benefit plans and programs it offers to its employees at any time.

 

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4.3.
Vacation. Employee will be entitled to fifteen (15) days of paid vacation per year, with the timing and duration of specific vacations
mutually and reasonably agreed to by the parties hereto. Unused vacation days shall not be carried forward from year to year, nor shall
Employee be compensated for any unused vacation days.

 

4.4.
Expenses. The Company will reimburse Employee for reasonable travel, entertainment or other expenses incurred by Employee in the
furtherance of or in connection with the performance of Employee’s duties hereunder, provided that such expenses are pre-approved
in writing by the Company, are not in excess of any travel/expense budget provided to Employee, and Employee provides all receipts and
other supporting documentation as may be requested by the Company.

 

4.5.
Bonus. In the Company’s discretion and depending on various factors, including without limitation the profitability of the
Company, Employee may be eligible for certain bonuses, which Company may pay in such amounts and at such times as it deems appropriate.

 

5.
Restrictions.

 

5.1.
No Use of Company Property for Personal Use. No Company property may be used for personal purposes by Employee without the prior
written consent of the Company. Additionally, no personal expenses are to be paid for with Company funds.

 

5.2.
Corporate Opportunity Doctrine. As an employee of the Company, Employee hereby acknowledges and agrees that the “corporate
opportunity” doctrine applies to Employee with respect to his fiduciary duties to the Company. As a result, Employee agrees to
provide the Company with a right to review and accept various business opportunities that may be complimentary to the Company’s
business operations. Any business opportunity that is rejected by the Company in writing will then be excluded from the restrictions
otherwise applicable to Employee under this Section 5.2.

 

6.
Termination of Employment.

 

6.1.
Death or Disability. If Employee’s employment shall terminate due to his/her death or Disability (defined below), Employee
(or his/her estate) shall be paid, in lieu of all other payments hereunder, the following: (1) accrued and unpaid salary through the
effective date of the termination of Employee’s employment with Company (“Date of Termination”); and (2) reimbursement
for all actual and previously unreimbursed out-of-pocket business expenses properly incurred to the Date of Termination in accordance
with Company’s standard business expense reimbursement policies (collectively, the “Accrued Amounts”). The Accrued
Amounts shall be paid to Employee’s surviving spouse, if any, or otherwise to Employee’s estate, in a single lump sum payment
within thirty (30) days of Employee’s death, or, if otherwise provided in an applicable employee benefit plan, in accordance with
the time and form of payment provisions of such plan, in accordance with applicable law. For purposes of this Agreement “Disability”
shall mean that Employee has been prevented from working for more than a continuous period of twelve (12) weeks, or for shorter periods
aggregating more than ninety (90) days in any consecutive twelve (12) month period, because of physical or mental incapacity or other
disability for which Employee has been provided all legally required leaves of absence and reasonable accommodations.

 

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6.2.
Termination Without Cause or Resignation for Good Reason. If (1) Company terminates Employee’s employment during the Initial
Term other than (a) due to Employee’s death or Disability or (b) for Cause (as defined below); or (2) if Employee resigns from
Employee’s employment for Good Reason (as defined below) during the Initial Term, Employee shall receive the Accrued Amounts on
the Date of Termination and, in addition, subject to the Severance Conditions below, (i) Company shall provide a severance payment equal
to three (3) months of Employee’s salary as of the Date of Termination (the “Severance Payment”), divided and
paid in equal installments over a period of three (3) months in accordance with Company’s regular payroll practices starting on
the first regular payday occurring after the effective date of the Release (as defined below), and (ii) the Company will reimburse Employee
for COBRA premiums (at the coverage levels and at the Company-paid rate in effect immediately prior to such termination) for Employee
and Employee’s covered dependents until the earliest of (A) the date that is three (3) months following the Date of Termination,
(B) the date that Employee (or Employee’s spouse or dependents, as applicable) are no longer eligible for COBRA coverage or (C)
the date when Employee receives substantially equivalent health insurance coverage in connection with new employment (the “COBRA
Benefit”). Company’s obligation to pay Employee the Severance Payment and COBRA Benefit shall be conditioned on Employee’s
satisfaction of the following (the “Severance Conditions”): (1) Employee must first sign, and allow to become effective,
a Company-approved separation agreement, which shall include a full general release in a form acceptable to Company, releasing all claims,
known or unknown, that Employee may have against Company arising out of or any way related to Employee’s employment or termination
of employment with Company (the “Release”); and (2) on or before the effective date of the Release, Employee must
have (i) reconfirmed Employee’s agreement to abide by all of the surviving provisions of this Agreement and any other agreement
between Employee and Company, (ii) agreed to cooperate in the transition of Employee’s employment; and (iii) agreed not to make
any voluntary statements, written or oral, or cause or encourage others to make any such statements that defame, disparage, or in any
way criticize the personal and/or business reputations, practices, or conduct of the Company or any of its affiliates. All other Company
obligations to Employee will be automatically terminated and completely extinguished.

 

6.3.
Termination for Cause. Company shall have the right at any time, upon written notice to Employee, to terminate Employee’s
employment immediately for Cause. If Company terminates Employee’s employment for Cause, Employee shall have no right to receive
any further compensation other than the Accrued Amounts. In the event that Company terminates Employee’s employment for Cause,
Company shall pay Employee Employee’s Accrued Amounts on the Date of Termination.

 

As
used herein “Cause” shall mean: (a) conviction or entry of a plea of nolo contendere for any felony; (b) embezzlement,
misappropriation, fraud, dishonesty, unethical business conduct, or breach of fiduciary duty to Company or any affiliate (other than
those acts that are curable without damage to the Company and/or its affiliates, in which case Employee will have ten (10) days to cure
such breach following written notice thereof to Employee by Company, and other than those acts that do not result in material harm to
the Company); (c) inability or refusal to substantially perform Employee’s duties hereunder and Employee’s failure to cure
such condition within 30 days after receiving written notice thereof by the Company; (d) failure to follow reasonable and lawful directions
from the persons to whom Employee report and Employee’s failure to cure such condition within 30 days after receiving written notice
thereof by the Company; (e) use of alcohol or use of illegal drugs, interfering with performance of Employee’s obligations to Company
or any affiliate, continuing after written warning; (f) commission of any willful or intentional act which materially injures or could
reasonably be expected to materially injure the reputation, business or business relationships of Company, any affiliate, Employee or
other employees of Company or any affiliates; (g) willful disregard or violation of Company’s or any affiliate’s written
policies regarding harassment or discrimination, or any other material violation of Company’s or any affiliate’s written
policies as in effect from time to time and Employee’s failure to cure such breach within 30 days after receiving written notice
thereof by the Company; (h) gross negligence or willful misconduct in the performance Employee’s duties or with regard to the assets,
business or employees of Company or any affiliates; (i) material breach of Employee’s obligations to Company or any affiliate (other
than those acts that are curable without damage to the Company and/or its affiliates, in which case Employee will have ten (10) days
to cure such breach following written notice thereof to Employee by Company); (j) usurpation of a corporate opportunity; or (k) misappropriation,
unauthorized use or disclosure of Proprietary Information that results in a material breach of this Agreement.

 

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As
used herein “Good Reason” shall mean Employee’s resignation due to the occurrence of any of the following conditions
which occurs without Employee’s written consent, provided that the requirements regarding advance notice and an opportunity to
cure set forth below are satisfied: (i) a material reduction of Employee’s duties, authority, responsibilities or reporting relationship
relative to Employee’s duties, authority, responsibilities or reporting relationship as in effect immediately prior to such reduction;
(ii) a 10% or more reduction in Employee’s then-current salary; (iii) any material breach by the Company or any successor corporation
of any material provision of this Agreement; (iv) the failure of any acquirer or successor to the Company or any affiliate of such affiliate
or successor to assume or otherwise continue the obligations under this Agreement; or (v) the Company (or its successor) conditions Employee’s
continued service on Employee being transferred to a site of employment that would increase Employee’s one-way commute by more
than 30 miles from Employee’s then principal residence. In order for Employee to resign for Good Reason, Employee must provide
written notice to the Company of the existence of the Good Reason condition within 90 days of the initial existence of such Good Reason
condition. Upon receipt of such notice, the Company will have 30 days during which it may remedy the Good Reason condition and not be
required to provide the payments or benefits described herein as a result of such proposed resignation. If the Good Reason condition
is not remedied within such 30-day period, Employee may resign based on the Good Reason condition specified in the notice effective no
later than 60 days following the expiration of the 30-day cure period.

 

6.4.
Employee Resignation. If Employee resigns from Employee’s employment for any reason other than for Good Reason, Employee’s
resignation shall be considered a material breach of this Agreement. Notwithstanding the foregoing, in such event, only the following
shall apply: (i) Company shall pay Employee Employee’s Accrued Amounts on the Date of Termination, (ii) all other Company obligations
to Employee hereunder, and all Employee’s obligations to Company hereunder, shall be automatically terminated and completely extinguished,
(iii) this Agreement shall be automatically terminated, and (iv) each party shall have no claims against or liability to the other party
under this Agreement. Further notwithstanding the foregoing, during the Initial Term, Employee may only resign after first providing
120 days’ prior written notice to the Company.

 

6.5.
No Further Obligations. The amounts and benefits provided for in this Section shall be in lieu of any termination or severance
payments or benefits for which Employee may be eligible or entitled, now or in the future, under any of the plans, policies, or programs
of Company or any of its subsidiaries or affiliates. In addition, the amounts and benefits provided for in this Section shall be inclusive
of all statutory severance payable or otherwise provided to Employee in relation to Employee’s employment by Company and the termination
of Employee’s employment under this Agreement and compensation for all required notice periods. Except as otherwise expressly set
forth in this Section, from and after the date of such termination, Employee shall (i) have no right to receive any further compensation
(including salary or bonus) hereunder, and, (ii) except to the extent required by law, cease to be covered under or be permitted to actively
participate in any benefits plans or programs.

 

6.6.
Resignation from Officer Positions. If Employee’s employment with Company terminates for any reason, Employee shall be deemed
to have resigned at that time from any and all positions that Employee may have held with Company or any of its affiliates, as designated
by Company, or any other positions that Employee held on behalf of Company. If, for any reason, this Section is deemed insufficient to
effectuate such resignation, following a reasonable opportunity to review, Employee hereby authorizes Company to execute any documents
or instruments consistent herewith which Company may deem necessary or desirable to effectuate such resignation or resignations, and
to act as Employee’s attorney-in-fact. Company will provide Employee with a copy of such documents.

 

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6.7.
Section 409A. Certain payments and benefits payable under this Agreement are intended to be exempt from, or comply with, Section
409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations and Internal Revenue
Service guidance thereunder. To the extent the payments and benefits under the Agreement are subject to Section 409A of the Code, the
Agreement shall be interpreted, construed and administered in a manner that satisfies the requirements of Sections 409A (a) (2), (3)
and (4) of the Code and the Treasury Regulations and Internal Revenue Service guidance thereunder. Each payment and benefit payable under
this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. If the
parties determine that any payments or benefits payable under this Agreement subject to Section 409A of the Code do not comply with Section
409A of the Code, Company and Employee agree to amend this Agreement, or take such other actions as Company and Employee reasonably deem
necessary or appropriate, to comply with the requirements of Section 409A of the Code, while preserving benefits that are, in the aggregate,
no less favorable than the benefits as provided to Employee under this Agreement. If any provision of this Agreement would cause such
payments or benefits to fail to so comply, such provision shall not be effective and shall be null and void with respect to such payments
or benefits, and such provision shall otherwise remain in full force and effect.

 

7.
Noncompetition and Nonsolicitation.

 

7.1.
Noncompetition. During the Term and until the later of either: (i) one (1) year after the termination or expiration of this Agreement,
and (ii) two (2) years after the Effective Date (the “Restricted Period”), Employee shall not, directly or indirectly
(whether as a principal, agent, independent contractor, employee, partner, member, owner, or in any other similar capacity), own, manage,
operate, control, participate in, perform services for, be employed by, or otherwise carry on, a business similar to or competitive with
Tickeri, Inc.’s (“Tickeri”) business anywhere in the United States or Latin America in which Tickeri, during
the Term, is engaged or intends to become engaged in Tickeri’s business. Notwithstanding the foregoing, Employee shall not be prohibited
from owning not more than one percent of the voting stock of any publicly traded entity that competes with Tickeri.

 

7.2.
Nonsolicitation of Company Employees. During the Restricted Period, Employee shall not, directly or indirectly, recruit, solicit,
induce, or influence (or seek to induce or influence) any person who is employed by, hired by, affiliated with, or acts as a consultant,
independent contractor, or salesperson for, the Company or Tickeri to terminate or alter his/her relationship with the Company.

 

7.3.
Nonsolicitation of Customers. During the Restricted Period, Employee shall not, directly or indirectly, without the prior written
consent of the Company, solicit, encourage or take any other action which is intended to induce or encourage, or has the effect of inducing
or encouraging, any customer, client or supplier who or which is, or had been within the prior two years, a customer or potential customer,
or supplier or potential supplier, of the Company or Tickeri to terminate or alter in any way such customer’s, client’s,
or supplier’s relationship with the Company or Tickeri, nor shall Employee call on or solicit any such customers, clients or suppliers
with respect to or on behalf of any business similar to or competitive with the Company’s or Tickeri’s business.

 

7.4.
Remedies; Liquidated Damages. Employee expressly agrees and acknowledges that the covenant not to compete and the nonsolicitation
covenants contained in this Section 7 are for the Company’s protection because of the nature and scope of the Company’s business
and Employee’s position with and the scope of the duties, responsibilities and obligations delegated to Employee by the Company
hereby. If any of the covenants or agreements contained in this Section 7 are violated or breached by Employee, Employee agrees and acknowledges
that any such violation or threatened violation or breach or threatened breach will cause irreparable injury to the Company and that
the remedy at law for any such violation or threatened violation or breach or threatened breach will be inadequate and that the Company
will be entitled to injunctive relief and other equitable remedies without the necessity of proving actual damages or posting a bond.
The noncompetition and nonsolicitation provisions set forth in Sections 7.1, 7.2, and 7.3 hereof, respectively, shall be extended by
any period of time during which Employee is in violation or breach of this Section 7. In addition to the injunctive relief and other
remedies previously described, Employee and the Company agree that the amount of damage resulting to the Company from a violation of
Sections 7.1 and 7.3 hereof is difficult to ascertain and quantify, and therefore Employee acknowledges and agrees that the Company shall
be entitled to liquidated damages from Employee in the amount of any money received by Employee from any competitive business or any
client or customer of the Company multiplied by two. Such damages shall be paid by Employee within ten (10) days after receipt of written
demand from the Company, and if not so paid may be offset against any amounts owed by the Company to Employee. Employee and the Company
agree that such liquidated damages shall not be deemed a penalty and are a good faith approximation of the damages to the Company as
a result of any violation of Sections 7.1 and 7.3.

 

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7.5.
Interpretation. It is the intention of the parties hereto that the noncompetition and nonsolicitation covenants contained in this
Section 7 be enforced to the greatest extent (but to no greater extent) in time, scope, and degree of participation as is permitted by
applicable law. To this end, the parties hereto agree that such covenants shall be construed to extend in time and territory and with
respect to degree of participation only so far as they may be enforced, and that such covenants are to that end hereby declared divisible
and severable because it is a purpose of this Agreement to govern competition by Employee anywhere in the United States and Latin America
in which the Company, during the Restricted Period, is engaged or intends to become engaged in the Company’s business.

 

7.6.
Employee Acknowledgement. Employee acknowledges that Employee’s covenants and agreements in this Section 7 are reasonable
and necessary to protect the Company’s legitimate interest in its proprietary information and goodwill. Employee acknowledges that
this Section 7 is not so broad as to prevent Employee from earning a livelihood or practicing Employee’s chosen profession after
termination or expiration of this Agreement. Employee further acknowledges that the covenants and agreements in this Section 7 shall
remain enforceable if the Company terminates Employee’s relationship with the Company under this Agreement. Employee further acknowledges
and agrees that without such restrictions, the Company would not have entered into this Agreement.

 

8.
Confidentiality Agreement. Employee agrees to execute a Confidential Information, Invention Assignment, and Arbitration Agreement
in substantially the form attached hereto as Exhibit A (the “Confidentiality Agreement”).

 

9.
Miscellaneous.

 

9.1.
Severability. If any court determines that any provision of this Agreement or any part thereof is invalid or unenforceable, the
remainder of this Agreement shall be given full force and effect without regard to the invalid portions. If any court determines that
any provision of this Agreement or any part thereof is unenforceable because of the duration or geographic scope of such provision, such
court shall have the power to reduce the duration or scope of such provision, as the case may be and in its reduced form such provision
shall then be enforceable.

 

9.2.
Notices. Any notice required or permitted hereunder to be given by either party shall be in writing and shall be delivered personally
or sent by certified or registered mail, postage prepaid, or by overnight courier, or by facsimile or email to the party to the address
the party may designate from time to time. A notice delivered personally shall be effective upon receipt. A notice sent by facsimile
or email shall be effective twenty-four (24) hours after the dispatch thereof. A notice delivered by mail or by overnight courier shall
be effective on the earlier of the date delivered (or delivery refused) or the third day after the day of mailing.

 

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9.3.
Attorneys’ Fees. In the event of any action at law or in equity to enforce or interpret the terms of this Agreement, the
parties agree that the prevailing party shall be entitled to an additional award of the full amount of the attorneys’ fees and
expenses paid by such prevailing party in connection with the litigation and/or dispute without reduction or apportionment based upon
the individual claims or defenses giving rise to the fees and expenses. Nothing herein shall restrict or impair a court’s power
to award fees and expenses for frivolous or bad faith pleading.

 

9.4.
Successors and Assigns. The rights and obligations of the Company under this Agreement shall inure to the benefit of and shall
be binding upon the successors and assigns of the Company. This Agreement is for the unique personal services of Employee, and Employee
shall not be entitled to assign any of his rights or obligations hereunder.

 

9.5.
Entire Agreement. This Agreement and any exhibits hereto constitute the entire agreement between the parties with respect to the
employment of Employee. This Agreement can be amended or modified only in a writing signed by Employee and an authorized representative
of the Company.

 

9.6.
Counterparts. This Agreement may be executed in counterparts and by facsimile or electronic delivery of signature pages, each
of which shall be deemed an original and all of which together shall be considered one and the same agreement.

 

9.7.
Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by the laws of the State of California without
regard to California’s conflicts-of-law, except that any dispute regarding the enforceability of the arbitration section of this
Agreement shall be governed by the FAA. To the extent that any lawsuit is permitted under this Agreement, Employee hereby expressly consents
to the personal and exclusive jurisdiction and venue of the state and federal courts located in San Diego County, California for any
lawsuit filed against Employee by the Company.

 

9.8.
Arbitration. This Agreement shall be subject to the arbitration provisions set forth in Section 10 of the Confidentiality Agreement.

 

9.9.
Further Assurances. Each party agrees to execute and deliver, or cause to be executed and delivered, all such documents and instruments
and shall take, or cause to be taken all such further or other actions as are reasonably necessary or desirable upon the request of any
other party to more fully effectuate the purposes and intent of this Agreement.

 

9.10.
Modification. No provision of this Agreement shall be amended, waived or modified except by an instrument in writing signed by
all of the parties hereto.

 

9.11.
Waiver. The waiver by either party of a breach by the other party of any provision of this Agreement shall not operate or be construed
as a waiver of any subsequent breach.

 

9.12.
Advice of Counsel. Employee hereby acknowledges that he has been, and hereby is, advised to seek legal counsel and to review this
document with legal counsel of Employee’s choice. Employee acknowledges that this Agreement is written in a manner understandable
to Employee.

 

9.13.
Voluntary Execution. Employee represents and warrants that he has signed this Agreement voluntarily and of his own free will and
that he has not been subjected to duress or undue influence from any source.

 

9.14.
Waiver of Jury Trial. as a specifically bargained inducement for each of the parties to
enter into this agreement (each party having had opportunity to consult counsel), each party expressly WAIVES THE RIGHT TO TRIAL BY JURY
IN ANY PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT.

 

[Remainder
of page intentionally left blank; signature page to follow]

 

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In
witness whereof, the parties hereto have executed this Employment Agreement as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	HUMBL, Inc.
	 	 	 
	 	By:	      
	 	Printed
    Name:	 
	 	Title:	 
	 	 	 
	 	EMPLOYEE:
	 	 
	 	Javier Gonzalez, an individual

 

[Signature
Page to Employment Agreement]

 

    	 

     

    

 

EXHIBIT
A

 

CONFIDENTIAL
INFORMATION, INVENTION ASSIGNMENT, AND ARBITRATION AGREEMENTExhibit 10.33

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

CONVERTIBLE
PROMISSORY NOTE

 

	Effective
    Date: June 21, 2021	U.S.
    $382,500.00

 

FOR
VALUE RECEIVED, HUMBL, Inc., a Delaware corporation (“Borrower”), promises
to pay to the order of Infinity Block Investments, LLC, a Delaware limited liability company,
or its successors or assigns (“Lender”), $382,500.00 and any interest accrued hereunder on the date that is twenty-two
(22) months from the Effective Date (the “Maturity Date”) in accordance with the terms set forth herein and to pay
interest on the outstanding balance at the rate of eight percent (8%) per annum from the Effective Date until the same is paid in full.
This Convertible Promissory Note (this “Note”) is issued and made effective as of June 21, 2021 (the “Effective
Date”). Certain capitalized terms used herein are defined in Attachment 1 attached hereto and incorporated herein by
this reference.

 

1.
Payment; Prepayment.

 

1.1.
Payment. All payments owing hereunder shall be in lawful money of the United States of America or Conversion Shares (as defined
below), as provided for herein, and delivered to Lender at the address or bank account furnished to Borrower for that purpose. All payments
shall be applied first to (a) costs of collection, if any, then to (b) fees and charges, if any, then to (c) accrued and unpaid interest,
and thereafter, to (d) principal.

 

1.2.
Prepayment. Borrower may not prepay this Note without Lender’s prior written consent. Notwithstanding the forgoing, this
Note may be prepaid immediately prior to the consummation of a Change of Control, provided that the Borrower provided prior written notice
of such Change of Control to the Lender pursuant to Section 14.

 

2.
Security. This Note is unsecured.

 

3.
Lender Optional Conversion.

 

3.1.
Conversions. Lender has the right at any time after the Effective Date until the outstanding balance has been paid in full, at
its election, to convert (“Conversion”) all or any portion of the outstanding balance into shares (“Conversion
Shares”) of fully paid and non-assessable common stock, $0.00001 par value per share (“Common Stock”), of
Borrower as per the following conversion formula: the number of Conversion Shares equals the amount being converted (the “Conversion
Amount”) divided by the Conversion Price (as defined below). Conversion notices in the form attached hereto as Exhibit A
(each, a “Conversion Notice”) may be delivered from time to time by Lender to Borrower, and all Conversions shall
be cashless and not require further payment from Lender. Borrower shall deliver the Conversion Shares from any Conversion to Lender in
accordance with Section 7 below.

 

    	 

    	 

    

 

3.2.
Conversion Price. The price at which Lender has the right to convert all or any portion of the outstanding balance, including
accrued but unpaid interest, into Common Stock is $1.00 per share of Common Stock (the “Conversion Price”). The Conversion
Price will automatically be adjusted in the event Borrower consummates a stock split, stock combination or other similar change to the
number of outstanding shares of Common Stock.

 

4.
Defaults and Remedies.

 

4.1.
Defaults. The following are events of default under this Note (each, an “Event of Default”): (a) Borrower fails
to pay any principal, interest, fees, charges, or any other amount when due and payable hereunder; (b) Borrower fails to deliver any
Conversion Shares in accordance with the terms hereof; (c) a receiver, trustee or other similar official shall be appointed over Borrower
or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or shall not be dismissed or discharged
within sixty (60) days; (d) Borrower makes a general assignment for the benefit of creditors; (e) Borrower files a petition for relief
under any bankruptcy, insolvency or similar law (domestic or foreign); or (f) an involuntary bankruptcy proceeding is commenced or filed
against Borrower. Notwithstanding the foregoing, the occurrence of any of the foregoing events will not be considered an Event of Default
unless Borrower fails to cure such event within ten (10) Trading Days of its receipt of written notice from Lender.

 

4.2.
Remedies. Following an Event of Default, Lender may accelerate this Note by written notice to Borrower with the outstanding balance
becoming immediately due and payable. Nothing herein shall limit Lender’s right to pursue any other remedies available to it at
law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to Borrower’s
failure to timely deliver Conversion Shares upon Conversion of the Note as required pursuant to the terms hereof.

 

5.
Unconditional Obligation; No Offset. Borrower acknowledges that this Note is an unconditional, valid, binding and enforceable
obligation of Borrower not subject to offset, deduction or counterclaim of any kind. Borrower hereby waives any rights of offset it now
has or may have hereafter against Lender, its successors and assigns, and agrees to make the payments or Conversions called for herein
in accordance with the terms of this Note.

 

6.
Waiver. No waiver of any provision of this Note shall be effective unless it is in the form of a writing signed by the party granting
the waiver. No waiver of any provision or consent to any prohibited action shall constitute a waiver of any other provision or consent
to any other prohibited action, whether or not similar. No waiver or consent shall constitute a continuing waiver or consent or commit
a party to provide a waiver or consent in the future except to the extent specifically set forth in writing.

 

7.
Method of Conversion Share Delivery. On or before the close of business on the seventh (7th) Trading Day following
the date of delivery of a Conversion Notice (the “Delivery Date”), Borrower shall, provided it is DWAC Eligible at
such time, deliver or cause its transfer agent to deliver the applicable Conversion Shares electronically via DWAC to the account designated
by Lender in the applicable Conversion Notice. If Borrower is not DWAC Eligible, it shall deliver to Lender or its broker (as designated
in the Conversion Notice), via reputable overnight courier, a certificate representing the number of shares of Common Stock equal to
the number of Conversion Shares to which Lender shall be entitled, registered in the name of Lender or its designee.

 

    	 2

    	 

    

 

8.
Ownership Limitation. Notwithstanding anything to the contrary contained in this Note or the other Transaction Documents, Borrower
shall not effect any conversion of this Note to the extent that after giving effect to such conversion would cause Lender (together with
its affiliates) to beneficially own a number of shares exceeding 4.99% of the number of shares of Common Stock outstanding on such date
(including for such purpose the shares of Common Stock issuable upon such issuance). For purposes of this section, beneficial ownership
of Common Stock will be determined pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended.

 

9.
Opinion of Counsel. In the event that an opinion of counsel is needed for any matter related to this Note, Lender shall have such
opinion provided by its counsel.

 

10.
Governing Law; Venue. This Note shall be governed by and construed in accordance with the laws of the State of Delaware applicable
to contracts made and wholly performed in that jurisdiction. Each party hereto submits to the exclusive jurisdiction of any state or
federal court sitting in San Diego County, California in any proceeding arising out of or relating to this Note and agrees that all claims
in respect of the proceeding may be heard and determined in any such court and hereby expressly submits to the personal jurisdiction
and venue of such court for the purposes hereof and expressly waives any claim of improper venue and any claim that such courts are an
inconvenient forum. Each party hereto hereby irrevocably consents to the service of process of any of the aforementioned courts in any
such proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to its address as set forth herein,
such service to become effective ten (10) days after such mailing. The parties expressly and irrevocably waive the right to a trial
by jury in any and all actions or proceedings brought with respect to this Note and with respect to any claims arising out of or related
to this Note.

 

11.
Cancellation. After repayment or conversion of the entire outstanding balance, this Note shall be deemed paid in full, shall automatically
be deemed canceled, and shall not be reissued.

 

12.
Amendments. The prior written consent of both parties hereto shall be required for any change or amendment to this Note.

 

13.
Assignments. Neither party may assign this Note without the consent of the other party. Any assignment or assumption in connection
with a Change of Control is subject to Lender’s approval, unless this Note is paid in full in connection with such Change of Control.

 

14.
Notices. Whenever notice is required to be given under this Note, such notice shall be given to such address as has been provided
to the other party. Borrower shall provide Lender with prompt written notice of all actions taken pursuant to this Note, including in
reasonable detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, Borrower will
give written notice to Lender (i) as soon as practicable upon each adjustment of the Conversion Price and the number of Conversion Shares,
setting forth in reasonable detail, and certifying, the calculation of such adjustment(s), (ii) at least fifteen (15) days prior to the
date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the Common Stock,
or (B) for determining rights to vote with respect to any Change of Control, dissolution or liquidation, provided in each case that such
information, and (iii) at least ten (10) Trading Days prior to the consummation of any Change of Control.

 

15.
Severability. If any part of this Note is construed to be in violation of any law, such part shall be modified to achieve the
objective of Borrower and Lender to the fullest extent permitted by law and the balance of this Note shall remain in full force and effect.

 

[Remainder
of page intentionally left blank; signature page follows]

 

    	 3

    	 

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be duly executed as of the Effective Date.

 

	 	 	 	BORROWER:
	 	 	 	 
	 	 	 	HUMBL,
    Inc.
	 	 	 	 
	 	 	 	By:
    	 
	 	 	 	 	Brian
    Foote, CEO
	 	 	 	 	 
	ACKNOWLEDGED,
    ACCEPTED AND AGREED:	 	 	 
	 	 	 	 
	LENDER:	 	 	 
	 	 	 	 
	Infinity
    Block Investments, LLC	 	 	 
	 	                                  	 	 	 
	By:
    	 	 	 	 
	 	Jordan
Smith, Manager	 	 	 

 

[Signature
Page to Convertible Promissory Note]

 

    	 

    	 

    

 

ATTACHMENT
1

DEFINITIONS

 

For
purposes of this Note, the following terms shall have the following meanings:

 

A1.
“DTC” means the Depository Trust Company or any successor thereto.

 

A2.
“DTC/FAST Program” means the DTC’s Fast Automated Securities Transfer program.

 

A3.
“DWAC” means the DTC’s Deposit/Withdrawal at Custodian system.

 

A4.
“DWAC Eligible” means that (a) Borrower’s Common Stock is eligible at DTC for full services pursuant to DTC’s
operational arrangements, including without limitation transfer through DTC’s DWAC system; (b) Borrower has been approved (without
revocation) by DTC’s underwriting department; (c) Borrower’s transfer agent is approved as an agent in the DTC/FAST Program;
(d) the Conversion Shares are otherwise eligible for delivery via DWAC; and (e) Borrower’s transfer agent does not have a policy
prohibiting or limiting delivery of the Conversion Shares via DWAC.

 

A5.
“Trading Day” means any day on which Borrower’s market is open for trading.

 

A6.
“Change of Control” means a merger or consolidation with another entity in which the Company’s stockholders
do not own more than 50% of the outstanding voting power of the surviving entity, or the disposition of all or substantially all of the
Company’s assets.

 

[Remainder
of page intentionally left blank]

 

    	Attachment 1 to Convertible Promissory Note, Page 1

    	 

    

 

EXHIBIT
A

 

Infinity
Block Investments, LLC

 

	HUMBL,
    Inc.	Date:
    	________________
	Attn:
    Brian Foote	 	 
	600
    B. Street, Suite 300	 	 
	San
    Diego, California 92101	 	 

 

CONVERSION
NOTICE

 

The
above-captioned Lender hereby gives notice to HUMBL, Inc., a Delaware corporation (the “Borrower”), pursuant to that
certain Convertible Promissory Note made by Borrower in favor of Lender on June 21, 2021 (the “Note”), that Lender
elects to convert the portion of the Note balance set forth below into fully paid and non-assessable shares of Common Stock of Borrower
as of the date of conversion specified below. Said conversion shall be based on the Conversion Price set forth below. In the event of
a conflict between this Conversion Notice and the Note, the Note shall govern, or, in the alternative, at the election of Lender in its
sole discretion, Lender may provide a new form of Conversion Notice to conform to the Note. Capitalized terms used in this notice without
definition shall have the meanings given to them in the Note.

 

	 	A.	Date
    of Conversion: ____________
	 	B.	Conversion
    #: ____________
	 	C.	Conversion
    Amount: ____________
	 	D.	Conversion
    Price: __________
	 	E.	Conversion
    Shares: _______________ (C divided by D)
	 	F.	Remaining
    Outstanding Balance of Note: ____________

 

Please
transfer the Conversion Shares electronically (via DWAC) to the following account:

 

	Broker:
__________________________ 	 	Address:	________________________
	DTC#:
__________________________   	 	 	________________________
	Account
    #: _______________________	 	 	________________________
	Account
    Name: ___________________	 	 	 

 

To
the extent the Conversion Shares are not able to be delivered to Lender electronically via the DWAC system, deliver all such certificated
shares to Lender via reputable overnight courier after receipt of this Conversion Notice (by facsimile transmission or otherwise) to:

 

_____________________________________

_____________________________________

_____________________________________

 

Sincerely,

 

	Lender:	 
	 	 
	By:
    	 	 
	 	Jordan
    Smith, Manager	 

 

    	Exhibit A to Convertible Promissory Note, Page 1

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