Document:

Exhibit 10.4

 

 

 

 

SILVER
BULL RESOURCES, INC.

AMENDMENT
TO MANAGEMENT RETENTION BONUS PLAN

 

This Amendment to the Silver
Bull Resources, Inc. Management Retention Bonus Plan dated the 17th day of February, 2022 (this “Amendment”),
is entered into by and among Silver Bull Resources, Inc. (“SB” or the “Company”) and Timothy Barry, Brian Edgar,
Christopher Richards and David Xuan (collectively “Management”) and, together with the Company, the “Parties”
and individually, a “Party”).

 

RECITALS

 

		A.	The
                                            Company and the Management entered into the Management Retention Bonus Plan agreement, dated
                                            April 15, 2021 (the “Retention Plan”) pursuant to which the Parties agreed to
                                            the terms and conditions of retention of Management.

 

		B.	The
                                            Parties now wish to enter into this Amendment in order to modify certain terms of the Retention
                                            Plan. 

 

AGREEMENT

 

In consideration of the forgoing
recitals and of the mutual covenants, agreements and representations contained herein and other valuable consideration given by each
Party hereto to the other, the receipt and sufficiency of which are hereby acknowledged by each of the Parties, the Parties hereby agree
to the following amendments:

 

		1.	Definitions

 

The following terms shall
have the following definitions:

 

		a.	For
                                            the purposes of the Retention Plan, “market capitalization” shall be calculated
                                            using the prevailing share price on a Canadian stock exchange multiplied by the number of
                                            the Company’s shares outstanding.

 

		b.	“Change
                                            of Control” means the occurrence of one or more of the following events after the
                                            Effective Date of this Retention Plan:

		i.	a
                                            sale, lease or other disposition of all or substantially all of the assets of the Company,
                                            

 

		ii.	a
                                            consolidation or merger of the Company with or into any other corporation or other entity
                                            or person (or any other corporate reorganization) in which the shareholders of the Company
                                            immediately prior to such consolidation, merger or reorganization, own less than fifty percent
                                            (50%) of the outstanding voting power of the surviving entity (or its parent) following the
                                            consolidation, merger or reorganization; or 

 

    	  

    	 

    

 

 

		iii.	a
                                            transaction or series or related transactions pursuant to which any person, entity or group
                                            within the meaning of Section 13(d) or 14(d) of the U.S. Securities Exchange Act of 1934
                                            (“1934 Act”), or any comparable successor provisions (excluding any employee
                                            benefit plan, or related trust, sponsored or maintained by the Corporation or an affiliate)
                                            acquires beneficial ownership (within the meaning of Rule 13d-3 promulgated under the 1934
                                            Act, or comparable successor rule) of securities of the Corporation representing at least
                                            fifty percent (50%) of the combined voting power entitled to vote in the election of directors;
                                            or

 

		iv.	a
                                            transaction or series of transactions pursuant to which (A) (i) any person, entity or group
                                            within the meaning of Section 13(d) or 14(d) of the 1934 Act, or any comparable successor
                                            provisions (excluding any employee benefit plan, or related trust, sponsored or maintained
                                            by the Corporation or an affiliate) acquires beneficial ownership (within the meaning of
                                            Rule 13d-3 promulgated under the 1934 Act, or comparable successor rule) of securities of
                                            the Corporation representing at least twenty percent (20%) of the combined voting power entitled
                                            to vote in the election of directors or securities of the Corporation that, upon conversion
                                            or exchange of such securities, would represent at least twenty percent (20%) of the combined
                                            voting power entitled to vote in the election of directors, or (ii) a consolidation or merger
                                            of the Corporation with or into any other corporation or other entity or person (or any other
                                            corporate reorganization) in which the shareholders of the Corporation immediately prior
                                            to such consolidation, merger or reorganization, own less than eighty percent (80%) of the
                                            outstanding voting power of the surviving entity (or its parent) following the consolidation,
                                            merger or reorganization and (B) in connection with or as a result of such transaction or
                                            series of transactions, either (i) one-half (or more) of the members of the Board of Directors
                                            of the Corporation resign or are replaced with nominees designated by such person, entity
                                            or group or (ii) the Chief Executive Officer of the Corporation resigns or is terminated
                                            as a result of such transaction or series of transactions.

 

		2.	Amendments

 

		a.	Clause
                                            5 of the Retention Plan to be replaced by the following wording:

 

5.In the event
that SB is the subject of a Change of Control, the 1% bonus shall be paid if the market capitalization
of the Company is equal to or greater than $250,000,000 at any point prior to the closing o of the transaction and be equal to 1% of
the bid price less any 1% bonus that may have been previously paid.

 

		b.	Clause
                                            10 of the Retention Plan to be replaced by the following wording:

 

 

    	  

    	 

    

 

10.        At
the sole discretion of the Company’s Board of Directors, SB shall not be obligated to pay a bonus in cash under this agreement
if it lacks funds at the time.  In lieu of cash, the Company’s Board of Directors may choose to settle any bonus debt by issuing
and delivering shares of SB for such debt valued at the 5-day trading VWAP for SB’s shares on the market calculated up to the day
before the issue of the shares.

 

3.       No
Other Waiver or Amendment. Except as expressly modified herein, all terms and provisions of the Retention Plan shall remain unchanged
and in full force and effect. This Amendment shall not be deemed to prejudice any rights or remedies which any Party may now have or
may have in the future under or in connection with the Retention Plan or any of the instruments or agreements referred to therein, as
the same may be amended, restated or otherwise modified.

 

4.       Governing
Law. This Amendment shall be governed by and construed in accordance with the laws of the province of British Columbia and the federal
laws of Canada applicable therein, which shall be deemed to be the proper law hereof. The Parties hereby attorn to and submit to the
jurisdiction of the courts of British Columbia.

 

5.       Counterparts.
This Amendment may be executed in one or more counterparts, each of which when executed shall be deemed to be an original, and such
counterparts shall together constitute one and the same instrument.

 

6.       Legal
Advice. Management acknowledge this Amendment has been prepared by the Company and that Management have had sufficient time to review
this Amendment thoroughly, including enough time to obtain independent legal advice concerning the interpretation and effect of this
Amendment prior to their execution. By signing this Amendment, Management represent and warrant that they have read and understood this
Amendment and that they execute them of their own free will and act.

 

[Signature
Page Follows]

 

 

    	  

    	 

    

 

IN WITNESS WHEREOF the Parties
have executed this Amendment as of the date and year first above written.

 

 

SILVER BULL RESOURCES, INC.

 

 

 

Per: /s/ John McClintock        

John
McClintock 

 

 

 

SIGNED,
SEALED AND DELIVERED:

 

 

/s/
Timothy Barry       

Timothy
Barry                                                                                             

 

 

/s/
Brain Edgar     

Brian
Edgar  

 

 

/s/
Christopher Richards    

Christopher
Richards

 

 

/s/
David Xuan    

David
XuanExhibit 10.1

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of February [16], 2022 (the “Closing Date”)
by and between CLUBHOUSE MEDIA GROUP INC., a Nevada corporation, with headquarters located 3651 Lindell Road, D517, Las Vegas,
NV 89103 (the “Company”), and ONE44 CAPITAL LLC, a Nevada limited liability company, with its address at 1 East Liberty
Street Suite 600, Reno, Nevada 89501 (the “Buyer”). The Company and the Buyer may be collectively referred to herein as the
“Parties” and individually as a “Party”.

 

WHEREAS:

 

A.
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the
Securities Act of 1933, as amended (the “1933 Act”);

 

B.
Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement a 4% convertible
note of the Company, in the form attached hereto as Exhibit A in the aggregate principal amount of $175,500 (together with any note(s)
issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the “Note”),
convertible into shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”), upon the terms
and subject to the limitations and conditions set forth in such Note.

 

C.
The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth immediately
below its name on the signature pages hereto; and

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.
Purchase and Sale of Note.

 

a.
Purchase of Note. On the Closing Date, the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the
Company, the Note. The Company shall also be caused to be issued 400,000 shares of restricted Common Stock as additional consideration
for the purchase of the Note (the “Commitment Shares”).

 

b.
Form of Payment. The Note shall contain an original issue discount of $17,500 such that the purchase price for the Note shall
be $158,000 (the “Purchase Price”). On the Closing Date the Buyer shall pay the Purchase Price by wire transfer of immediately
available funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of the Note, and
the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price.

 

    	 	 	 

     

    

 

c.
Closing Date. The closing of the transactions contemplated by this Company Initials Agreement (the “Closing”) shall
occur on the Closing Date immediately following the execution of this Agreement via the exchange of electronic documents, wire transfer
and other actions as required to effect the transactions contemplated herein (the “Transactions”).

 

2.
Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company as follows as of the Closing Date:

 

a.
Investment Purpose. Buyer is purchasing the Note the Commitment Shares and the shares of Common Stock that may be issued upon
any conversion of the Note (collectively, the “Securities”) for its own account and not with a present view towards the public
sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided,
however, that by making the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or
other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration
statement or an exemption under the 1933 Act.

 

b.
Accredited Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D (an “Accredited Investor”).

 

c.
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire the
Securities.

 

d.
Information. The Buyer and its advisors, if any, have been, and for so long as the Note remain outstanding will continue to be,
furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and
sale of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for
so long as the Note remain outstanding will continue to be, afforded the opportunity to ask questions of the Company. Notwithstanding
the foregoing, the Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information unless
such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries nor any
other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or affect Buyer’s
right to rely on the Company’s representations and warranties contained in Section 3 below. The Buyer understands that its investment
in the Securities involves a significant degree of risk. The Buyer is not aware of any facts that may constitute a breach of any of the
Company’s representations and warranties made herein. At no time was Buyer presented with or solicited by any leaflet, newspaper
or magazine article, radio or television advertisement, or any other form of general advertising or solicited or invited to attend a
promotional meeting otherwise than in connection and concurrently with such communicated offer. Buyer is not purchasing the Securities
acquired by Buyer hereunder as a result of any “general solicitation” or “general advertising,” as such terms
are defined in Regulation D under the 1933 Act, which includes, but is not limited to, any advertisement, article, notice or other communication
regarding the Securities acquired by Buyer hereunder published in any newspaper, magazine or similar media or on the internet or broadcast
over television, radio or the internet or presented at any seminar or any other general solicitation or general advertisement.

 

    	2

     

    

 

e.
Governmental Review. The Buyer understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.
Transfer or Re-sale. The Buyer understands that the sale or re-sale of the Securities has not been and is not being registered
under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless the Securities are sold
pursuant to an effective registration statement under the 1933 Act, the Buyer shall have delivered to the Company, at the cost of the
Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions
to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration,
which opinion shall be accepted by the Company, the Securities are sold or transferred to an “affiliate” (as defined in Rule
144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees to sell or otherwise transfer
the Securities only in accordance with this Section 2(f) and who is an Accredited Investor, the Securities are sold pursuant to Rule
144, or the Securities are sold pursuant to Regulation S under the 1933 Act (or a successor rule) (“Regulation S”), and the
Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope
customary for opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such Securities
made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable,
any re-sale of such Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to
be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the
rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation to register such
Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in
each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral
in connection with a bona fide margin account or other lending arrangement.

 

g.
Legends. The Buyer understands that the Note may bear a restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (1) IN THE ABSENCE OF
(A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL
(WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
(II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED
IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

    	3

     

    

 

The
legend set forth above shall be removed and the Company shall issue a certificate without such legend to the holder of any Security upon
which it is stamped, if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under
an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or Regulation S without any
restriction as to the number of securities as of a particular date that can then be immediately sold, or (b) such holder provides the
Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the
effect that a public sale or transfer of such Security may be made without registration under the 1933 Act, which opinion shall be accepted
by the Company so that the sale or transfer is affected. The Buyer agrees to sell all Securities, including those represented by a certificate(s)
from which the legend has been removed, in compliance with applicable prospectus delivery requirements, if any. In the event that the
Company does not accept the opinion of counsel provided by the Buyer with respect to the transfer of Securities pursuant to an exemption
from registration, such as Rule 144 or Regulation S, within 2 business days, it will be considered an Event of Default under the Note.

 

h.
Authorization; Enforcement; Etc.

 

(i)
Buyer is a limited liability company, duly qualified under the laws of the State of Nevada, and has the requisite power and capacity
to execute and deliver this Agreement and the other documents contemplated hereunder (the “Transaction Documents”) to which
it is a party and to perform its obligations hereunder and thereunder. The execution, delivery and performance by Buyer of the applicable
Transaction Documents and the consummation of the Transactions have been duly and validly authorized by all requisite action on the part
of Buyer. The Transaction Documents to which Buyer is a party have been duly and validly executed and delivered by Buyer. Each Transaction
Document to which Buyer is a party constitutes the valid and legally binding obligation of Buyer, enforceable against Buyer in accordance
with its terms and conditions, except to the extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other
laws affecting the enforcement of creditors’ rights or by the principles governing the availability of equitable remedies.

 

    	4

     

    

 

(ii)
No consent, Order (as defined below), action or non- action of, or filing, notification, declaration or registration with, any Governmental
Entity (as defined below) is necessary for the execution, delivery or performance by Buyer of this Agreement or any other Transaction
Document to which Buyer is a party. “Governmental Entity” means any federal, state, municipal, local or foreign government
and any court, tribunal, arbitral body, administrative agency, department, subdivision, entity, commission or other governmental, government
appointed, quasi-governmental or regulatory authority, reporting entity or agency, domestic, foreign or supranational. “Order”
means any judgment, writ, decree, determination, award, compliance agreement, settlement agreement, injunction, ruling, charge, judicial
or administrative order, determination or other restriction of any Governmental Entity or arbitrator.

 

(iii)
The execution, delivery and performance by Buyer of the Transaction Documents to which Buyer is a party, and the consummation by Buyer
of the Transactions, do not violate any laws or Orders to which Buyer is subject or violate, breach or conflict with any provision of
Buyer’s organizational documents.

 

Brokers.

 

Buyer
has not engaged any investment banker, finder, broker or sales agent or any other Person in connection with the origin, negotiation,
execution, delivery or performance of any Transaction Document to which it is a party, or the Transactions.

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.
Organization and Qualification. The Company and each of its subsidiaries, if any, is a corporation or other entity duly organized,
validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate
and other) to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated
and conducted.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement,
the Note and to consummate the Transactions and to issue the Securities, in accordance with the terms hereof and thereof, (ii) the execution
and delivery of this Agreement, the Note by the Company and the consummation by it of the Transactions (including without limitation,
the issuance of the Note has been duly authorized by the Company’s Board of Directors and no further consent or authorization of
the Company, its Board of Directors, or its shareholders is required, (iii) this Agreement has been duly executed and delivered by the
Company by its authorized representative, and such authorized representative is the true and official representative with authority to
sign this Agreement and the other documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement
constitutes, and upon execution and delivery by the Company of the Note, each of such instruments will constitute, a legal, valid and
binding obligation of the Company enforceable against the Company in accordance with its terms, except to the extent enforcement thereof
may be limited by applicable bankruptcy, insolvency or other laws affecting the enforcement of creditors’ rights or by the principles
governing the availability of equitable remedies.

 

c.
Issuance of Shares. The Conversion Shares (as defined in the Note) are duly authorized and reserved for issuance and, upon conversion
of the Note in accordance with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes,
liens, claims and encumbrances with respect to the issue thereof (other than limitations pursuant to applicable laws) and shall not be
subject to preemptive rights or other similar rights of shareholders of the Company and will not impose personal liability upon the holder
thereof.

 

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d.
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect to the Common Stock upon
the issuance of the Conversion Shares upon conversion of the Note. The Company further acknowledges that its obligation to issue Conversion
Shares upon conversion of the Note in accordance with this Agreement and the Note is absolute and unconditional regardless of the dilutive
effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

e.
No Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the Company
of the Transactions will not (i) conflict with or result in a violation of any provision of the Articles of Incorporation or By-laws
of the Company, or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which
with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration
or cancellation of, any agreement, indenture, patent, patent license or instrument to which the Company or any of its subsidiaries is
a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are subject) applicable
to the Company or any of its subsidiaries or by which any property or asset of the Company or any of its subsidiaries is bound or affected
(except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually
or in the aggregate, have a material adverse effect). All consents, authorizations, orders, filings and registrations which the Company
is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof. The Company is
not in violation of the listing requirements of the OTC Marketplace (the “OTC Markets”) and does not reasonably anticipate
that the Common Stock will be delisted by the OTC MARKETS in the foreseeable future, nor are the Company’s securities “chilled”
by FINRA. The Company and its subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

f.
Absence of Litigation. Except as disclosed in the Company’s public filings, there is no action, suit, claim, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to
the knowledge of the Company or any of its subsidiaries, threatened, against or affecting the Company or any of its subsidiaries, or
their officers or directors in their capacity as such, that could have a material adverse effect. The Company and its subsidiaries are
unaware of any facts or circumstances which might give rise to any of the foregoing.

 

g.
Acknowledgment Regarding Buyer’ Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely
in the capacity of arm’s length purchasers with respect to this Agreement and the Transactions. The Company further acknowledges
that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement
and the Transactions and any statement made by the Buyer or any of its respective representatives or agents in connection with this Agreement
and the Transactions is not advice or a recommendation and is merely incidental to the Buyer’ purchase of the Securities. The Company
further represents to the Buyer that the Company’s decision to enter into this Agreement has been based solely on the independent
evaluation of the Company and its representatives.

 

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h.
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would require
registration under the 1933 Act of the issuance of the Securities to the Buyer.

 

i.
Title to Property. The Company and its subsidiaries have good and marketable title in fee simple to all real property and good
and marketable title to all personal property, in each case owned by them which is material to the business of the Company and its subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as incurred in the ordinary course of business or such
as would not have a material adverse effect. Any real property and facilities held under lease by the Company and its subsidiaries are
held by them under valid, subsisting and enforceable leases with such exceptions as would not have a material adverse effect.

 

j.
Bad Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the 1933 Act as amended on the basis
of being a “bad actor” as that term is established in the September 19, 2013 Small Entity Compliance Guide published by the
Securities and Exchange Commission.

 

k.
Breach of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties set
forth in this Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered
an Event of default under the Note.

 

4.
COVENANTS.

 

a.
Expenses. At the Closing, the Company shall reimburse Buyer for expenses incurred by them in connection with the negotiation,
preparation, execution, delivery and performance of the Transaction Documents, including, without limitation, reasonable attorneys’
and consultants’ fees and expenses, transfer agent fees, fees for stock quotation services, fees relating to any amendments or
modifications of the Transaction Documents or any consents or waivers of provisions in the Transaction Documents, fees for the preparation
of opinions of counsel, escrow fees, and costs of restructuring the Transactions, up to a maximum of $8,000. When possible, the Company
must pay these fees directly, otherwise the Company must make immediate payment for reimbursement to the Buyer for all fees and expenses
(subject to the cap as set forth above) immediately upon written notice by the Buyer or the submission of an invoice by the Buyer.

 

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b.
Listing. The Company will obtain and, so long as the Buyer owns any of the Securities, maintain the listing and trading of its
Common Stock on the OTC MARKETS or any equivalent replacement exchange, the Nasdaq National Market (“Nasdaq”), the Nasdaq
SmallCap Market (“Nasdaq SmallCap”) or the New York Stock Exchange (“NYSE”), and will comply in all material
respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Financial Industry Regulatory
Authority (“FINRA”) and such exchanges, as applicable. To the extent permissible under applicable laws and rules and regulations
of the OTC Markets or any applicable securities exchange, the Company shall promptly provide to the Buyer copies of any notices it receives
from the OTC MARKETS and any other exchanges or quotation systems on which the Common Stock is then listed regarding the continued eligibility
of the Common Stock for listing on such exchanges and quotation systems.

 

c.
Corporate Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall
not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale of all or substantially
all of the Company’s assets, where the surviving or successor entity in such transaction (i) assumes the Company’s obligations
hereunder and under the agreements and instruments entered into in connection herewith and (ii) is a publicly traded corporation whose
Common Stock is listed for trading on the OTC MARKETS, Nasdaq, Nasdaq SmallCap or NYSE.

 

d.
No Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of the Securities
to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval provision applicable
to the Company or its securities.

 

e.
Filings. The Company shall include the Note in its next scheduled SEC filing whether that shall be a 10Q or a 10K.

 

f.
Breach of Covenants. If the Company breaches any of the covenants set forth in this Section 4, in the event that such breach is
not cured within five (5) of written notice thereof from the Buyer to the Company, then, in addition to any other remedies available
to the Buyer pursuant to this Agreement, it will be considered an event of default under the Note.

 

5.
Governing Law; Miscellaneous.

 

a.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard
to principles of conflicts of laws. Any action brought by either Party against the other concerning the transactions contemplated by
this Agreement shall be brought only in the state courts of Nevada or in the federal courts located in the state Nevada and county of
either Washoe County, Nevada or Clark County, Nevada. The Parties hereby irrevocably waive any objection to jurisdiction and venue of
any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens.
The Company and Buyer waive trial by jury. The prevailing Party shall be entitled to recover from the other Party its reasonable
attorneys’ fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent
that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may
prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each Party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding
in connection with this Agreement or any other Transaction Document by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such Party at the address in effect for notices to it under this Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit
in any way any right to serve process in any other manner permitted by law.

 

    	8

     

    

 

b.
Counterparts; Signatures by Facsimile. This Agreement may be executed in multiple counterparts, each of which shall be deemed
an original and all of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic
mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission
method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

c.
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation
of, this Agreement.

 

d.
Severability. In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule
of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to
conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision hereof.

 

e.
Entire Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the Parties
with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor
the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may
be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be
in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified,
return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, (iv) via electronic
mail or (v) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such Party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall
be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice is
to be received) or delivery via electronic mail, or the first business day following such delivery (if delivered other than on a business
day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be:

 

If
to the Company, to:

 

CLUBHOUSE
MEDIA GROUP INC.

3651
Lindell Road, D517

Las
Vegas, NV 89103

Attn:
Amir Ben-Yohanan

 

    	9

     

    

 

If
to the Buyer:

 

ONE44
CAPITAL LLC

1
East Liberty Street Suite 600

Reno,
Nevada 89501

Attn:
Abron Fraiman, Manager

 

Each
Party shall provide notice to the other Party of any change in address.

 

g.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their permitted successors
and assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights
or any of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement
or the transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising from
the purported assignor’s due performance of its obligations hereunder, without the prior written consent of the other Party and
any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect.

 

h.
Third Party Beneficiaries. This Agreement is intended for the benefit of the Parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall
survive the closing hereunder for a period of two (2) years. Each Party agrees to indemnify and hold harmless the other Party and such
other Party’s officers, directors, employees and agents for loss or damage arising as a result of or related to any breach or alleged
breach by first Party of any of its representations, warranties and covenants set forth in this Agreement or any of its covenants and
obligations under this Agreement, including advancement of expenses as they are incurred.

 

j.
Further Assurances. Each Party shall do and perform, or cause to be done and performed, all such further acts and things, and
shall execute and deliver all such other agreements, certificates, instruments and documents, as the other Party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the Transactions.

 

k.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the Parties to express
their mutual intent, and no rules of strict construction will be applied against any Party.

 

1.
Remedies. Each Party acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the other Party
by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, each Party acknowledges that the remedy at law
for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by
such Party of the provisions of this Agreement, that the other Party shall be entitled, in addition to all other available remedies at
law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing
any breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss
and without any bond or other security being required.

 

m.
Expenses. Unless otherwise contemplated or stipulated by a Transaction Document, all costs and expenses incurred in connection
with this Agreement shall be paid by the Party incurring such cost or expense.

 

[Signatures
appear on following page}

 

    	10

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the Closing Date.

 

	CLUBHOUSE
    MEDIA GROUP INC.	 
	 	 	 
	By:	/s/
    Amir Ben-Yohanan	 
	Name: 	Amir
Ben-Yohanan	 
	Title:	CEO	 
	 	 	 
	ONE44
    CAPITAL LLC.	 
	 	 	 
	By:	/s/
    Ahron Fraiman	 
	Name:	Ahron
Fraiman	 
	Title:	Manager	 

 

    	11

     

    

 

AGGREGATE
SUBSCRIPTION AMOUNT:

 

	Aggregate Principal Amount of Note:	 	$	175,500.00	 
	 	 	 	 	 
	Aggregate Purchase Price:	 	 	 	 

 

Note:
$175,500.00, less $17,500.00 in original issue discount, and less $8,000.00 in legal fees.

 

    	12

     

    

 

EXHIBIT
A

NOTE-
$175,500

 

    	13

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