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Exhibit 10.1

EXECUTIVE EMPLOYMENT AND RESTRICTIVE COVENANT AGREEMENT

I, LINDSAY POWERS, hereby agree to be employed by Premier Healthcare Solutions, Inc. (the “Company”) and the Company hereby agrees to employ me, subject to the following terms and conditions (the “Agreement”).

1.EMPLOYMENT

1.1Job Duties. I agree to devote my full professional time, attention and best efforts to the performance of my employment duties with the Company and its Related Companies (as defined in Section 5.8). I shall perform the duties and responsibilities customary to my position(s) with the Company and its Related Companies and as assigned to me from time to time. I also understand and agree that my employment may be transferred between the Company and its Related Companies in their discretion.  I shall abide by the policies of the Company and its Related Companies as adopted and amended from time to time.  Effective beginning January 1, 2021 (the ”Effective Date”), my position with the Company shall be as Senior Vice President, People.

1.2Compensation and General Benefits. During my employment with the Company or one of its Related Companies, the Company or one of its Related Companies will: (a) compensate me for my services at a base rate determined by the Company from time to time; and (b) allow me to participate in the deferred compensation, other retirement plans and employee benefit plans from time to time in effect generally for the Company’s similarly situated employees, subject to the terms and conditions of such plans and as they may be instituted, modified or terminated from time to time. As of the Effective Date, my initial base salary shall be $290,000.00 per annum, less applicable withholdings, paid in accordance with the usual payroll practices of the Company. If the base salary is increased, such increased amount shall thereafter become the “base salary” under this Agreement.

1.3Annual Incentive Plan. As of the Effective Date, I shall be eligible to participate in one or more annual incentive plans sponsored by the Company or one of its Related Companies in effect from time to time for similarly situated senior executive level employees of the Company, in accordance with the terms and conditions of such plan(s). My current target incentive opportunity is 40% of my initial base salary.

1.4Equity. As additional consideration for entering into this Agreement, as of the Effective Date, I shall be eligible to participate in the Premier, Inc. Equity Incentive Plan and any other equity-based or cash-based long-term incentive compensation plans for similarly situated senior executive level employees of the Company, in accordance with the terms and conditions of such plan(s). The Company will recommend to the Compensation Committee of the Board of Directors of Premier, Inc. (the “Board”) that I receive a grant for Fiscal Year 2022 (to be made at the time annual grants are typically made) of Premier, Inc. equity with an initial grant value equal to approximately 50% of my initial base salary.

1.5At-Will Employment. I agree that my employment with the Company shall be “at-will”, such that I may resign at any time for any reason and the Company may terminate my employment at any time for any reason. The at-will nature of my employment may be altered only by a written agreement signed by a duly authorized Company official. In addition, I agree that upon the termination of my employment with the Company for any reason, I shall resign and do resign from all positions as an officer, director and employee of the Company and its Related Companies, with such resignation(s) to be effective upon the termination of my employment with the Company, unless the Company requests an earlier date.

2.SEVERANCE PROTECTIONS

2.1Severance Pay. If my employment with the Company under this Agreement is terminated at any time due to a Termination Without Cause (as defined below), then the Company will provide me with 12 months of my then current base salary as severance (the “Severance Pay”), subject to the terms and conditions in this Section 2. In order to be eligible for such Severance Pay, I must, within 21 days of receipt from the Company (unless a longer period is required by applicable law), sign and not revoke a full and general release of any and all claims (the “Release”) that I have or may have against the Company, the Related Companies, and their affiliates, to be prepared by the Company at that time. In addition, if I violate any of my post-employment obligations under this Agreement in Sections 4-6, then my right to any outstanding Severance Pay shall immediately cease and be forfeited.

2.2Termination Without Cause. For purposes of this Agreement, “Termination Without Cause” means the termination of my employment by the Company for any reason other than my death, Disability or “Termination for Just Cause.” In addition, my resignation shall be deemed a Termination Without Cause by the Company if I resign my employment with the Company and all its Related Companies within twenty-four (24) months following a “Change in Control” (as defined below) due to any of the following without my consent:

a.a material reduction in my position or responsibilities with the Company, but excluding: (i) any suspensions, removals, duty reassignments, duty limitations or other actions pursuant to Section 2.3; and (ii) any such reductions or changes made in good faith to conform with applicable law or generally accepted industry standards for my position;

b.a non de minimis reduction in my base salary (unless such percentage reduction is made across the board for all other similarly situated senior executives of the Company); 

c.the relocation of my primary office location more than fifty (50) miles from my current primary office location (Charlotte, NC), but excluding the relocation of my primary office location to the Company’s current or future headquarters location (with or without my consent); or

d.a failure of the Company to obtain the assumption in writing of its obligations under this Agreement by any successor to all or substantially all of the assets of the Company within 30 days after a Change in Control.

For purposes of this Section 2.2, a “Change in Control” shall have the meaning set forth in the Premier, Inc. Equity Incentive Plan, as it may be established, modified, changed or replaced from time to time.

The Company and I agree that for my resignation to constitute Termination Without Cause, I must provide written notice to the President and Chief Executive Officer of the Company of my intent to resign within ninety (90) days of one of the triggering events outlined in subsections (a) – (d) of this provision, as well as the triggering event relied upon and details constituting such alleged triggering event. Further, Termination Without Cause shall not include my resignation under subsections (a) – (d) of this provision for any occurrence which is, after such notice, cured by the Company, within thirty (30) days of receipt of such notice.

2.3Termination For Just Cause. For purposes of this Agreement, “Termination for Just Cause” means termination of my employment by the Company as the result of my: (a) commission or omission of any act of dishonesty, embezzlement, theft, misappropriation or breach of fiduciary duty in connection with the terms and conditions of my employment; (b) conviction, guilty plea or plea of nolo contendere of a felony or a misdemeanor in which fraud or dishonesty is a material element, or a crime of moral turpitude; (c) willful misconduct or insubordination with respect to the performance of my duties to the Company or any Related Company that is harmful to the business or reputation of the Company or the Related Companies or constitutes a violation of law or governmental regulations, including by the Company or the Related Companies; (d) breach of any securities or other law or regulation or any the Company or Related Company policy governing inappropriate disclosures or “tipping” related to (or the trading or dealing of) securities, stock or investments; (e) failure to reasonably cooperate or interference with a Company-related investigation; (f) willful violation of the Company’s or its Related Companies’ lawful material policies, rules and procedures, including but not limited to the Company and its Related Companies’ Code of Conduct, Insider Trading and Conflict of Interest policies; (g) regulatory, governmental or administrative suspension, removal or prohibition as defined in this Section below; or (h) breach or prospective breach of the obligations set forth in Sections 3-7 of this Agreement.

Notwithstanding anything to the contrary, the Company and I also acknowledge and agree that:

(i)If I am suspended or temporarily prohibited from participating in the conduct of the affairs of the Company or its Related Companies or affiliated entities by a regulatory, governmental or administrative notice served under federal or state law, depending on the circumstances of such suspension or prohibition, the Company may (in lieu of terminating my employment) decide to suspend its obligations under this Agreement. If the charges in the notice are dismissed or withdrawn, the Company may, in its discretion, upon approval by the Board, pay me all or part of the compensation withheld while its obligations were suspended and reinstate in whole or in part any of its obligations that were suspended. 

(ii)If I am permanently removed or prohibited from participating in the conduct of the affairs of the Company or its Related Companies or affiliated entities by applicable federal, state or other regulatory, governmental or administrative order or action, all obligations of the Company under this Agreement shall terminate as of the effective date of the order, and the Company may, in its sole discretion, terminate my employment as a Termination For Just Cause.

(iii)The Company may, in its sole discretion, place me on temporary leave with pay, temporarily exclude me from any premises of the Company, its Related Companies and affiliated entities and temporarily reassign my duties with the Company and its Related Companies during any pending Company investigation or disciplinary action involving me or my potential “Termination for Just Cause”. 

2.4Disability.  “Disability” means my inability to perform the essential functions and duties of my position with the Company by reason of any medically determinable physical or mental impairment that can be expected to result in death or that is to last or can be expected to last for a continuous period of not less than twelve months, as determined under the long-term disability plan sponsored by the Company or a Related Company in which I participate. The Company and I agree that without expressly or constructively terminating this Agreement under this Section or Sections 2.1-2.3, the Company may designate another employee to act in my place during any period of my Disability that extends over ninety (90) consecutive calendar days or equals an aggregate of ninety (90) calendar days during any three hundred and sixty five (365) consecutive calendar day period. Notwithstanding whether any such designation is made, I shall continue to receive my full base salary under this Agreement (offset by any Company-paid short-term disability or long-term disability plan payments) during any period of my Disability during my employment with the Company.

2.5Severance Details. Any Severance Pay shall: (a) be paid over time in the form of salary continuation for the twelve (12) month period in accordance with the Company’s regular payroll practices; (b) be less applicable withholdings; and (c) replace my right to severance pay under any other agreement, plan or program with the Company or any Related Company.  Except as otherwise provided in Section 8.3(c) of this Agreement, and contingent on my execution and non-revocation of a Release as described in Section 2.1, the first installment of the Severance Pay will be made no later than the next reasonably practicable payroll date following the later of the effective date of my Termination Without Cause and the expiration of the revocation period for the Release described in Section 2.1. The remaining installments will continue thereafter until all installments have been made. If I am rehired by the Company or any Related Company during my severance period, my Severance Pay will cease. 

3.CONFLICTS OF INTEREST

During my employment with the Company, I shall not: (a) engage in any outside business activity without written authorization from my supervisor at the Company; (b) in any way compete with the Company; or (c) engage in any conduct intended to or reasonably expected to harm the interests of the Company. I also agree to comply with the terms of the Company’s Code of Conduct and Conflict of Interest policies. Notwithstanding the foregoing, I may engage in personal investment activities and charitable work that do not interfere with my duties for the Company and do not violate the Company’s Code of Conduct or Conflict of Interest policies.

4.CONFIDENTIAL INFORMATION AND INTELLECTUAL PROPERTY

4.1Duty of Confidentiality. Except to the extent the use or disclosure of any Confidential Information (as defined below) is required to carry out my assigned duties with the Company, I agree that during and at all times after my employment with the Company, I will: (a) protect and safeguard the Confidential Information from unauthorized use, publication, or disclosure; (b) not disclose any Confidential Information to any person not employed by the Company; and (c) not use for myself or for any other person or entity any Confidential Information. This provision, however, shall not preclude me from: (i) the use or disclosure of information known generally to the public (other than as a result of my violation of this Agreement); or (ii) any disclosure required by law or court order, by any governmental entity having regulatory authority over the business of the Company, or by any administrative or legislative body with appropriate jurisdiction, provided I provide the Company prompt written notice of any potential disclosure under this subsection (ii) within forty-eight (48) hours of my receipt of the request for disclosure or my election to disclose such information under this subsection (ii), whichever is earliest, to the fullest extent permitted by applicable law.  Further, notwithstanding anything to the contrary in this Section 4.1, I understand that the duty of confidentiality in this Agreement does not restrict my ability to communicate directly with any federal, state or local government agency or commission without providing notice to or receiving prior or later authorization from the Company, as provided under Section 4.3 (“Protected Rights”) below. 

Further, I agree to abide by the Protection of Confidential Information and Protected Health Information set forth in Exhibit A of this Agreement, as amended from time to time.
4.2Confidential Information. “Confidential Information” means all confidential or proprietary information furnished to, obtained by or created by me while employed by the Company. Confidential Information includes, but is not limited to, information in the following categories: (a) information regarding the affiliates and customers of the Company, including affiliate / customer lists, contact information, contracts, billing histories, affiliate/customer preferences, and information regarding products or services provided to such entities; (b) non-public strategic or financial information concerning the Company, including, but not limited to, commissions and salaries paid to employees, sales data and projections, forecasts, cost analyses, and similar information; (c) plans and projections for business opportunities for new or developing business of the Company, including marketing concepts and business plans; (d) Intellectual Property (as defined in Section 4.5 below), software, source and object codes, computer data, research information and technical data; (e) information relating to the services, products, prices, costs, research and development activities, service performance, operating results, pricing strategies, employee lists or personnel matters of the Company; (f) information regarding sources and methods of supply, including supply agreements, supply terms, product discounts and similar information related to the Company; and (g) information marked or otherwise designated as “confidential” or by similar words.

4.3Protected Rights. I understand and agree that nothing in this Agreement precludes me from communicating directly with the U.S. Securities and Exchange Commission (“SEC”) or the Financial Industry Regulatory Authority (“FINRA”) regarding potential securities issues or concerns, if any.  Further, I understand and agree that nothing in this Agreement is intended to, or shall, interfere with my rights to file a charge or complaint with, participate in a proceeding by, or cooperate with the U.S. Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the SEC, FINRA, or any other federal, state or local government agency or commission (including providing documents or other information to such agencies), none of which shall constitute a breach of this Agreement or any applicable policy or procedure of the Company or any Related Company.  I also understand and agree that I do not need to receive prior or later authorization from the Company to make any such governmental reports or disclosures, and I am not required to notify the Company (in advance or otherwise) when taking any such action.  

4.4Return of Property. I agree that all assets, materials, documents and data obtained or prepared by me in the course and scope of my employment with the Company are the property of the Company. I also agree that all Confidential Information is the property of the Company. As such, I agree that I will promptly return to the Company when requested, and in any event prior to my last day of employment with the Company, all assets, materials, documents, information, data and other property belonging to the Company in my possession or control, regardless of how stored or maintained and including all originals and electronic or hard copies.

4.5Intellectual Property. I hereby assign and agree in the future to assign to the Company my full right, title and interest in all Intellectual Property (as defined in this Section 4.5). In addition, all copyrightable works that I create during my employment with the Company shall be considered “work made for hire” and shall be owned exclusively by the Company. “Intellectual Property” means any invention, formula, process, discovery, development, design, innovation or improvement made, conceived or first reduced to practice by me, solely or jointly with others, during my employment with the Company. However, “Intellectual Property” shall not apply to any invention that I develop on my own time, without using the equipment, supplies, facilities or trade secret information of the Company, unless such invention relates at the time of conception or reduction to practice to: (a) the business of the Company; (b) the actual or demonstrably anticipated research or development of the Company; or (c) any work performed by me for the Company.

5.NON-COMPETE AND NON-INTERFERENCE / RAIDING

EMPLOYEES COVERED BY CALIFORNIA LAW. UNDER CALIFORNIA LAW, CERTAIN POST-TERMINATION RESTRICTIVE COVENANTS ARE UNENFORCEABLE AND VOID AGAINST PUBLIC POLICY. IF I AM A RESIDENT OF THE STATE OF CALIFORNIA OR PERFORM A SUBSTANTIAL PORTION OF MY EMPLOYMENT FOR THE COMPANY IN THE STATE OF CALIFORNIA, I AM COVERED BY CALIFORNIA LAW, AND SECTIONS 5.1 THROUGH 5.3 WILL NOT APPLY TO ME FOR SO LONG AS I AM COVERED BY CALIFORNIA LAW.

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Employee Initials 

5.1Non-Compete. For a period of twelve (12) months following my last day of employment with the Company, I agree not to: (a) perform in the Prohibited Territory (as defined below) any services for a competitor of the Company that are the same as or substantially similar to the services I performed for the Company at any point during my last twelve (12)  months as a Company employee; or (b) engage, within the Prohibited Territory, in any aspect of the Business (as defined below) that I was involved with on behalf of the Company at any time during the last twelve (12) months of my employment with the Company. “Prohibited Territory” means: (i) if my job duties are not limited to particular states or regions, the continental United States; or (ii) if my job duties are limited to particular states or regions, the states or regions that I assisted the Company to engage in its business during my last twelve (12) months as a Company employee. The “Business” means the business engaged in by the Company as of my last day of employment with the Company.   Notwithstanding the preceding, owning the stock or options to acquire stock totaling less than 5% of the outstanding shares in a public company shall not by itself violate the terms of this Section 5.1.

5.2Non-Interference With Restricted Customers. For a period of twelve (12) months following my last day of employment with the Company, I agree that I will not: (a) call upon, solicit, cause or attempt to cause any Restricted Customer (as defined below) to not do business with the Company or to reduce, modify or transfer any part of its business with the Company; (b) call upon, solicit, cause or attempt to cause any Restricted Customer to do business with a competitor of the Company; (c) sell or provide any services or products to any Restricted Customer that are competitive with or a replacement for the Company’s services or products; or (d) as an employee, agent, partner, director, consultant, or in any other capacity assist any person or entity to engage in any of the conduct described in subsections (a) - (c) of this Section. Notwithstanding the preceding, if I become an employee of a Restricted Customer after my employment with the Company ends, then this subsection shall not limit my communications or activities with that particular Restricted Customer while I am employed by that Restricted Customer, provided that: (i) as part of my services with or for such Restricted Customer, I do not engage in activities or directly assist others to engage in activities that compete with the Company in the Business or otherwise violate Section 5.1; and (ii) I abide by the confidentiality and non-raiding of employees obligations set forth in this Agreement.

“Restricted Customer” means: (i) a Customer (as defined below) for which I earned or was paid incentive pay at any point during my last twelve (12) months as a Company employee; (ii) a Customer with which I worked or for which I supervised the Company’s work at any point during my last twelve (12) months as a Company employee; (iii) a prospective Customer that I contacted or for which I supervised contact at any point during my last twelve (12) months as a Company employee; and (iv) a current or prospective Customer about which I obtained Confidential Information at any point during my last twelve (12) months as a  Company employee. “Customer” means a Company customer, partner hospital, member or affiliated health care organization.

The “Business” means the business engaged in by the Company as of my last day of employment with the Company. 

5.3Non-Interference With Restricted Suppliers. For a period of twelve (12) months following my last day of employment with the Company, I agree that I will not solicit, cause or attempt to cause any Restricted Supplier (as defined below) to not do business with the Company or to reduce, modify or transfer any part of its business with the Company. “Restricted Supplier” means any supplier of goods or services to the Company: (a) with which I had dealings; (b) for which I supervised or assisted in the Company’s dealings; or (c) about which I obtained Confidential Information, all at any point during my last thirty six (36) months as a Company employee.

I further agree that in the event I am later employed by a non-group purchasing organization medical supplier following my employment with the Company, I will recuse myself for a period of twelve (12) months following my last day of employment with the Company from any consideration of decisions or other communications or discussions that would result in the termination of a contract, discontinuance of business, or reduction of business with or amounts paid to the Company involving the products or services that my new employer supplies the Company. I further expressly acknowledge and agree that as part of my post-employment confidentiality commitments to the Company, I cannot and will not use any confidential Company pricing, contract or other supplier-related information obtained during my employment with the Company in connection with any supply contract or other negotiations between the Company and my new non-group purchasing organization medical supplier employer, if applicable, or to obtain a competitive advantage against or otherwise harm the Company or its affiliated entities.

5.4Non-Raiding of Employees. During my employment with the Company under this Agreement and for a period of eighteen (18) months following my last day of employment with the Company, I agree not to on my own behalf or on behalf of any other entity: (a) hire or engage as an employee or as an independent contractor any then current employee or 

independent contractor of the Company (each a “Restricted Employee”); or (b) solicit, encourage or cause or attempt to solicit, encourage or cause any Restricted Employee to leave his or her employment with the Company.

5.5Non-Disparagement. I agree that during and at all times after my employment with the Company, not to disparage or otherwise make any denigrating or untrue statements about the Company, including any of its products, services or practices, or any of its affiliates, directors, officers, agents, representatives, stockholders or affiliates, either orally or in writing.

5.6Cooperation. I agree that during and for a period of twenty-four (24) months after my employment with the Company to remain available to cooperate with the Company with respect to any matters that occurred during my employment with the Company, including, without limitation, providing truthful and complete cooperation in litigation matters relating to the Company, the Related Companies or any other affiliates and about which I have knowledge, whether or not such matters have been commenced as of the termination of my employment.

5.7Other Commitments. I represent and warrant to the Company that prior to and during my current employment/engagement with the Company: (a) if I am an employee of the Company, I have terminated employment with all my prior employers; and (b) my employment/engagement with the Company will not breach any confidentiality, non-compete, non-solicitation or other contract that I may have with any current or former employer, contracting entity or other third party.

5.8Related Companies.   For purposes of the restrictions and commitments in Section 3 (Conflicts of Interest), 4 (Confidential Information and Intellectual Property), 5 (Non-Compete and Non-Interference / Raiding) and 6 (Reasonableness), “the Company” shall include the Company or any successor and any “Related Company” (as defined below) for or with whom I performed or supervised any services at any time during the last 12 months of my employment with the Company and/or its Related Companies.

“Related Company” means, with respect to the Company, any parent company, subsidiary company, sister company or joint venture, or related subsidiary company of such entities.
6.REASONABLENESS OF RESTRICTIONS

I have carefully read and considered the provisions of this Agreement and, having done so, agree that the restrictions set forth in it are fair, reasonable, and necessary to protect the Company’s legitimate business interests. In addition, I acknowledge and agree that the restrictions in this Agreement do not unreasonably restrict or affect my ability to obtain employment should my employment with the Company end. Thus, although the Company and I acknowledge and agree that I retain the right to contest the application or interpretation of Sections 3-5 of this Agreement to particular facts/circumstances, I agree not to contest the general validity or enforceability of Sections 3-5 before any court, arbitration panel or other body.

Further, I agree that I shall notify any prospective employer, entity or individual with whom I seek to be employed or provide independent contractor services of the non-competition, non-interference, confidentiality and other requirements set forth in Sections 3-5 of this Agreement during the applicable term for each, and the Company may likewise provide such notice during the same period to any prospective employer, entity or individual with whom I seek to be employed or provide independent contractor services.

7.OBLIGATIONS CONCERNING PRIOR BUSINESS RELATIONSHIPS

7.1Former Employment/Engagements. I represent and warrant to the Company that: (a) I am not working for or engaged by any other person or entity as an employee, independent contractor or consultant; and (b) I have provided the Company with a copy of any and all agreements with third parties that may limit or attempt to limit my right to be employed by the Company or its Related Companies, to perform any activities for the Company or a Related Company, or to disclose to the Company or a Related Company any ideas, inventions, discoveries or other information.

7.2No Disclosure or Use of Confidential Information of Others. I represent and warrant to the Company that I have not brought and will not bring with me to the Company, disclose to the Company or use in the performance of my duties for the Company any materials, data, software, technology, trade secrets, intellectual property, confidential or proprietary information, or documents belonging to a third party that are not generally available to the public, unless I have obtained written authorization to do so from the third party and provided the Company with a copy of it.  I understand and agree that, in 

my employment with the Company, I am not to breach any obligation of confidentiality that I have to former employers or other third parties, and I agree that I shall fulfill all such obligations during my employment with the Company. 

8.GENERAL PROVISIONS

8.1Breach of Agreement. I acknowledge that my breach of this Agreement, particularly Sections 3-6, will cause immediate and irreparable damage to the Company and its Related Companies and that such damages will be exceedingly difficult to measure in full. Therefore, I acknowledge that the payment of damages in an action at law for breach of this Agreement would not adequately compensate the Company or its Related Companies for the damages suffered. In addition, the short duration of the covenants contained in this Agreement makes essential the enforcement of this Agreement by injunctive relief. The Company and I therefore agree that this Agreement may be enforced through temporary, preliminary and permanent injunctive relief, and that all other available remedies at law or in equity including, but not limited to, money damages, may be pursued for breach of this Agreement.

Moreover, I agree that, in addition to any other remedies available to the Company and/or its Related Companies by operation of law or otherwise, if I breach of any of the obligations contained in Sections 3-6, I shall: (a) forfeit at the time of the breach the right to any additional Severance Pay under Section 2 of this Agreement; (b) forfeit the right to all further unpaid / unawarded, amounts that may otherwise be payable under the terms of any amounts described in Section 1.3 and 1.4 hereof, or any other compensation plan in which I participate and to which I might otherwise then be entitled by virtue thereof at the time of the breach, if any, notwithstanding any provisions of this Agreement or such plans or programs to the contrary; and (c) be required to refund to the Company and its Related Companies, and the Company and its Related Companies shall be entitled to recover of me, the amount of any and all such Severance Pay, amounts described in Section 1.3 and 1.4 hereof, or other compensation plan or awards already paid or provided to or on behalf of me by the Company and/or its Related Companies following the initial breach, if any, notwithstanding any provisions of this Agreement or such plans or programs to the contrary.

In addition, the Company and I agree that the prevailing party in any legal action to enforce the terms of this Agreement, including but not limited to Sections 3-6, shall be entitled to costs and attorneys’ fees related to any such proceeding as allowed by law. Further, the time period for the covenants in Sections 4-6 shall be tolled during any period of time in which I am violating those Sections.

The restrictions and obligations in Sections 4-6 shall survive my last day of employment with the Company and shall be in addition to any restrictions imposed on me by statute, at common law, or other agreements. The restrictions and obligations in Sections 4-6 shall continue to be enforceable regardless of whether there is a subsequent dispute between me and the Company concerning any alleged breach of this Agreement.

8.2Judicial Modification and Severability. If a court determines that any provision of this Agreement is invalid, then the Company and I request that the court “blue-pencil” or otherwise modify such provision in order to render the provision not invalid and enforce the provision as modified. In such a case, all other provisions contained in this Agreement shall remain in full force and effect.  In addition, each provision of this Agreement is severable from each other provision.

8.3Section 409A.

(a)Section 409A Compliance. The Company and I intend that any amounts payable hereunder that could constitute “deferred compensation” within the meaning of Section 409A (“Section 409A”) of the Internal Revenue Code (the “Code”) will be compliant with Section 409A. If the Company shall determine that any provision of this Agreement does not comply with the requirements of Section 409A, the Company shall amend the Agreement to the extent necessary (including retroactively) in order to comply with Section 409A (which amendment shall not reduce the amounts payable to me under this Agreement). The Company shall also have the discretionary authority to take such other actions to correct any failures to comply in operation with the requirements of Section 409A. Such authority shall include the power to adjust the timing or other details relating to the awards and payments described in this Agreement (but not the amounts payable to me under this Agreement) if the Company determines that such adjustments are necessary in order to comply with or become exempt from the requirements of Section 409A. Notwithstanding the foregoing, to the extent that this Agreement or any payment or benefit (or portion thereof) under this Agreement or the plans referenced herein shall be deemed not to comply with Section 409A, then none of the Company, its Related Companies, the Board, the Compensation Committee of the Board, Premier, Inc. and its 

Related Companies’ shareholders, owners, board members, officers, employees, their designees and agents shall not be liable to me in any way. 

(b)Separation from Service. Notwithstanding anything in this Agreement to the contrary, no separation benefits, if applicable, deemed deferred compensation subject to Section 409A shall be payable pursuant to this Agreement unless my separation from employment constitutes a “separation from service” with the Company within the meaning of Section 409A and the Department of Treasury regulations and other guidance promulgated thereunder (a “Separation from Service”).

(c)Specified Employee. Notwithstanding any provision to the contrary in this Agreement, if I am deemed by the Company at the time of my Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which I am entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of my benefits shall not be provided to me prior to the earlier of (i) the expiration of the six-month period measured from the date of my Separation from Service or (ii) the date of my death. Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 8.3(c) shall be paid in a lump sum to me, and any remaining payments due  under  this Agreement shall be paid as otherwise provided herein.

(d)Expense Reimbursements. To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A, any such reimbursements payable to me pursuant to this Agreement shall be paid to me no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and my right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

(e)Installments. For purposes of Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), my right to receive the installment payments of Severance Pay under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment.  In the event that the timing of my signing the Release referenced in Section 2.1 could result in any portion of the Severance Pay that is deferred compensation subject to Section 49A being paid in an earlier or later calendar year, then such portion shall be paid in the later calendar year. 

8.4Tax Penalty Protection. Notwithstanding any other provision in this Agreement to the contrary, any payment or benefit received or to be received by me in connection with a “change in ownership or control” as such term is defined under Section 280G of the Code (whether payable under the terms of this Agreement or any other plan, arrangement or agreement with the Company or its Related Companies, collectively, the “Payments”) would constitute a “parachute payment” within the meaning of Section 280G of the Code, it shall be reduced to the extent necessary so that no portion thereof shall be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), but only if, by reason of such reduction, the net after-tax benefit received by me shall exceed the net after-tax benefit that would be received by me if no such reduction was made. Whether and how the limitation under this Section 8.4 is applicable shall be determined under the Section 280G Rules set forth in Exhibit B hereto.

8.5Incentive-Based Compensation Clawback. In accordance with the terms and conditions of Premier, Inc.’s Compensation Recoupment Policy, as such policy may be established, modified, changed, replaced or terminated from time to time, I agree to repay any incentive or other compensation paid or otherwise made available to me by the Company or its Related Companies, as required by the terms of such policy. If I fail to return such compensation as required by the terms of the Compensation Recoupment Policy or applicable law, I hereby agree and authorize the Company and its Related Companies to, among other things as set forth in the policy: (a) deduct the amount of such identified compensation from any and all other compensation owed to me by the Company or is Related Companies (if any); and (b) adjust and reduce future compensation to me (if any). I acknowledge that the Company may take appropriate disciplinary action (up to, and including, Termination For Just Cause) if I fail to return / repay such identified compensation within the timeframe required by the Compensation Recoupment Policy. Further, the Company and I agree that the provisions of this Section 8.5 shall remain in effect indefinitely following my termination of employment.

8.6Indemnification. The Company and I have entered into (or shall enter into concurrent with this Agreement) a separate indemnity agreement, consistent with the Company’s certificate of incorporation, by-laws and other corporate governance documents; provided that the entry into such an agreement shall not be a condition precedent to my right to be 

indemnified by the Company as provided in such corporate governance documents. The Company will indemnify me or cause me to be indemnified in my capacity as an officer, director or senior manager of any Related Company for which I serve as such, to the fullest extent permitted by the laws of the state of incorporation of such Related Company in effect from time to time, or the certificate of incorporation, by-laws or other corporate governance documents of such Related Company. The Company shall provide me with directors’ and officers’ insurance coverage to the same extent as provided to other senior executives of the Company from time to time.

8.7Governing Law, Forum, Jurisdiction. Except as prohibited by law, I agree (a) that this Agreement shall be governed by the laws of the State of North Carolina, regardless of where I may work for the Company and irrespective of conflict of law principles; (b) any litigation under this Agreement shall be brought by either me or the Company exclusively in Mecklenburg County, North Carolina, notwithstanding that I may not be a resident of North Carolina when the litigation is commenced and/or cannot be served process within North Carolina; and (c) as such, the Company and I irrevocably consent to the jurisdiction of the courts in Mecklenburg County, North Carolina (whether federal or state) for all disputes related to this Agreement and irrevocably consent to service of process via nationally recognized overnight carrier, without limiting other service methods available under applicable law.  Except as prohibited by law, the Company and I irrevocably waive any right to a trial by jury in any action related to this Agreement.  Further, the Company and I agree that the terms in this Section are material provisions of this Agreement, that the Company’s headquarters is in Charlotte, Mecklenburg County, North Carolina, that this is a contract made in North Carolina, and that, except as prohibited by law, no party to this Agreement will contest the enforceability of the choice of law, exclusive venue, or other provisions of this Section.  I acknowledge that nothing in this Agreement shall be construed as impairing my rights under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

8.8Entire Agreement, Amendment, Waiver, Assignment. This Agreement constitutes the entire agreement between me and the Company related to the subject matters contained in it and supersedes all previous written or oral agreements related to these subject matters, including any previous employment and similar agreements with the Company and its Related Companies, provided that it does not extinguish any post-employment obligations I may owe the Company or its Related Companies under other written or previous agreements.  No amendment or attempted waiver of any of the provisions of this Agreement shall be binding unless reduced to writing and signed by me and the Company.  Any waiver of any provision by either party shall not constitute a waiver of such provision or any other provision at a later time or in any other circumstance.  The Company shall have the right to assign or transfer this Agreement to any affiliated entity or successor to all or part of its business, and I irrevocably consent to any such assignment or transfer.  Further, the Company and I agree that the Company may disclose the compensation and other terms of this Agreement: (a) to Premier, Inc.’s shareholders/owners; and (b) in its proxy statements or other public securities filings as required by law.

[Signature Page Follows]

Agreed to and accepted:

Date:    12/16/2020                    /s/ Lindsay Powers                
    LINDSAY POWERS
Agreed to and accepted:                PREMIER HEALTHCARE SOLUTIONS, INC.    
Date:    12/16/2020                    /s/ Jim Jensen                    
                            Signature of Authorized Representative

                            JIM JENSEN, VP OF COMPENSATIONExhibit 10.1

 

SUBSCRIPTION
AGREEMENT

This Subscription
Agreement (this “Agreement”) is being delivered by the purchaser identified on the signature page to this Agreement
(the “Subscriber”) in connection with Subscriber’s investment in the offering (“Offering”)
by Splash Beverage Group, Inc., a Colorado (the “Company”) of a maximum of Four Million Dollars ($4,000,000)
(the “Maximum Offering Amount) in a private placement offering of shares of the common stock of the Company, no par
value per share (the “Shares”) at a purchase price of $1.10 per share (the “Purchase Price”).
The minimum amount of Shares that may be purchased by the Subscriber is for $25,000 (the "Minimum Investment Amount"),
provided that the Company may, in its sole discretion, accept subscriptions for less than the Minimum Investment Amount. The Offering
is being conducted pursuant to the terms of the Private Placement Memorandum dated January 21, 2021 as may be amended or supplemented
from time to time, including all attachments, schedules, annexes and exhibits there to (the “Memorandum”). Capitalized
terms used and not defined herein shall have the same meanings as in the Memorandum. In connection with the Subscriber’s
purchase of the Shares, the Company will issue to the Subscriber a warrant (the “Investor Warrant“) to purchase
such number of shares of Common Stock equal to 50% of the shares of Common Stock purchased by the Subscriber. A form of the Investor
Warrant is attached to the Memorandum as Annex B. For purposes of this Agreement, the term “Securities” shall
refer to the Shares, the Investor Warrant and the shares of the Company’s common stock issuable upon exercise of the Investor
Warrant.

IMPORTANT INVESTOR NOTICES

NO OFFERING LITERATURE OR ADVERTISEMENT
IN ANY FORM MAY BE RELIED UPON IN THE OFFERING OF THESE SECURITIES EXCEPT FOR THE MEMORANDUM, THIS SUBSCRIPTION AGREEMENT AND ANY
SUPPLEMENTS HERETO, AND NO PERSON HAS BEEN AUTHORIZED TO MAKE ANY REPRESENTATIONS EXCEPT THOSE CONTAINED IN THE MEMRANDUM AND HEREIN.

THIS AGREEMENT IS CONFIDENTIAL AND THE
CONTENTS HEREOF MAY NOT BE REPRODUCED, DISTRIBUTED OR DIVULGED BY OR TO ANY PERSONS OTHER THAN THE RECIPIENT OR ITS REPRESENTATIVE,
ACCOUNTANT OR LEGAL COUNSEL, WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY. EACH PERSON WHO ACCEPTS DELIVERY OF THIS AGREEMENT,
ACKNOWLEDGES AND AGREES TO THE FOREGOING RESTRICTIONS.

THIS AGREEMENT DOES NOT PURPORT TO BE
ALL-INCLUSIVE OR TO CONTAIN ALL OF THE INFORMATION THAT YOU MAY DESIRE IN EVALUATING THE COMPANY, OR AN INVESTMENT IN THE OFFERING.
THIS AGREEMENT DOES NOT CONTAIN ALL OF THE INFORMATION THAT WOULD NORMALLY APPEAR IN A PROSPECTUS FOR AN OFFERING REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). YOU MUST CONDUCT AND RELY ON YOUR OWN EVALUATION OF
THE COMPANY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED, IN DECIDING WHETHER TO INVEST IN THE OFFERING.

THIS AGREEMENT DOES NOT CONSTITUTE AN
OFFER OR SOLICITATION OF AN OFFER TO ANY PERSON OR IN ANY JURISDICTION WHERE SUCH OFFER OR SOLICITATION IS UNLAWFUL OR NOT AUTHORIZED.
EACH PERSON WHO ACCEPTS DELIVERY OF THIS AGREEMENT AGREES TO RETURN IT AND ALL RELATED DOCUMENTS IF SUCH PERSON DOES NOT PURCHASE
ANY OF THE SECURITIES DESCRIBED HEREIN.

NEITHER THE DELIVERY OF THIS AGREEMENT
AT ANY TIME NOR ANY SALE OF SECURITIES HEREUNDER SHALL IMPLY THAT INFORMATION CONTAINED HEREIN IS CORRECT AS OF ANY TIME SUBSEQUENT
TO ITS DATE. THE COMPANY WILL EXTEND TO EACH PROSPECTIVE SUBSCRIBER (AND TO ITS REPRESENTATIVE, ACCOUNTANT OR LEGAL COUNSEL, IF
ANY) THE OPPORTUNITY, PRIOR TO ITS PURCHASE OF SECURITIES, TO ASK QUESTIONS OF AND RECEIVE ANSWERS FROM THE COMPANY CONCERNING
THE OFFERING AND TO OBTAIN ADDITIONAL INFORMATION, TO THE EXTENT THE COMPANY POSSESSES THE SAME OR CAN ACQUIRE IT WITHOUT UNREASONABLE
EFFORT OR EXPENSE, IN ORDER TO VERIFY THE ACCURACY OF THE INFORMATION SET FORTH HEREIN. ALL SUCH ADDITIONAL INFORMATION SHALL ONLY
BE PROVIDED IN WRITING AND IDENTIFIED AS SUCH BY THE COMPANY THROUGH ITS DULY AUTHORIZED OFFICERS AND/OR DIRECTORS ALONE; NO ORAL
INFORMATION OR INFORMATION PROVIDED BY ANY BROKER OR THIRD PARTY MAY BE RELIED UPON.

NO REPRESENTATIONS, WARRANTIES OR ASSURANCES
OF ANY KIND ARE MADE OR SHOULD BE INFERRED WITH RESPECT TO THE ECONOMIC RETURN, IF ANY, THAT MAY ACCRUE TO AN INVESTOR IN THE COMPANY.

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FOR RESIDENTS OF ALL STATES

THIS OFFERING IS BEING MADE SOLELY TO
“ACCREDITED INVESTORS,” AS SUCH TERM IS DEFINED IN RULE 501 OF REGULATION D UNDER THE SECURITIES ACT. THE SECURITIES
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND WILL BE OFFERED AND SOLD IN RELIANCE
UPON THE EXEMPTION FROM REGISTRATION AFFORDED BY SECTION 4(a)(2) THEREUNDER AND REGULATION D (RULE 506) OF THE SECURITIES ACT AND
CORRESPONDING PROVISIONS OF STATE SECURITIES LAWS.

THE SECURITIES OFFERED HEREBY ARE SUBJECT
TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT
AND APPLICABLE STATE LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. SUBSCRIBERS SHOULD BE AWARE THAT THEY WILL BE REQUIRED
TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

THE SECURITIES OFFERED HEREBY HAVE NOT
BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”), ANY STATE SECURITIES COMMISSION
OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING
OR THE ACCURACY OR ADEQUACY OF THIS AGREEMENT. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

PROSPECTIVE SUBSCRIBERS SHOULD NOT CONSTRUE
THE CONTENTS OF THIS AGREEMENT AS INVESTMENT, LEGAL, BUSINESS, OR TAX ADVICE. EACH SUBSCRIBER SHOULD CONTACT HIS, HER OR ITS OWN
ADVISORS REGARDING THE APPROPRIATENESS OF THIS INVESTMENT AND THE TAX CONSEQUENCES THEREOF, WHICH MAY DIFFER DEPENDING ON A SUBSCRIBER’S
PARTICULAR FINANCIAL SITUATION. IN NO EVENT SHOULD THIS AGREEMENT BE DEEMED OR CONSIDERED TO BE TAX ADVICE PROVIDED BY THE COMPANY.

FOR FLORIDA RESIDENTS ONLY

THE SECURITIES REFERRED TO HEREIN WILL BE SOLD
TO, AND ACQUIRED BY, THE HOLDER IN A TRANSACTION EXEMPT UNDER § 517.061 OF THE FLORIDA SECURITIES ACT. THE SECURITIES HAVE
NOT BEEN REGISTERED UNDER SAID ACT IN THE STATE OF FLORIDA. IN ADDITION, ALL FLORIDA RESIDENTS SHALL HAVE THE PRIVILEGE OF VOIDING
THE PURCHASE WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE BY SUCH SUBSCRIBER TO THE COMPANY, AN AGENT
OF THE COMPANY, OR AN ESCROW AGENT OR WITHIN THREE DAYS AFTER THE AVAILABILITY OF THAT PRIVILEGE IS COMMUNICATED TO SUCH SUBSCRIBER,
WHICHEVER OCCURS LATER.

 

FOR RESIDENTS
OTHER THAN U.S.

 

THESE SECURITIES MAY BE OFFERED OUTSIDE THE UNITED STATES BUT ONLY
TO INDIVIDUALS OR ENTITIES THAT MEET THE DEFINITION OF AN “ACCREDITED INVESTOR” AS SET FORTH ABOVE AND AS VERIFIED
IN THE INVESTOR QUESTIONNAIRE CONTAINED HEREIN TO BE COMPLETED BY ALL INVESTORS U.S. OR NON-U.S.

 

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1.       SUBSCRIPTION
AND PURCHASE PRICE

(a)       Subscription.
Subject to the conditions set forth in Section 2 hereof, the Subscriber hereby subscribes for and agrees to purchase the number
of Shares indicated on the signature page hereof on the terms and conditions described herein.

(b)       Purchase
of Shares. The Subscriber understands and acknowledges that the purchase price to be remitted to the Company in exchange for
the Shares shall be set at $1.10 per Share for an aggregate purchase price as set forth on the signature page hereof (the “Aggregate
Purchase Price”). The Subscriber’s delivery of this Agreement to the Company shall be accompanied by payment for
the Shares subscribed for hereunder, payable in United States Dollars, by wire transfer of immediately available funds delivered
to the Company. The Subscriber understands and agrees that, subject to Section 2 and applicable laws, by executing this Agreement,
it is entering into a binding agreement.

(c)       Deposit
of Funds. The Company will deposit all cash subscriptions directly received into the Escrow Account (as hereinafter defined).
Upon the acceptance of subscriptions for the Shares the Company may conduct an initial closing of the Offering and thereafter,
may conduct any number of additional closings in its discretion up to the Maximum Offering amount until the Offering is terminated
as set forth in the Memorandum. Subscriber hereby authorizes the release of the Aggregate Purchase Price by the Escrow Agent (as
hereinafter defined) to the Company upon the Company’s acceptance of Subscriber’s subscription.

(d)       Subscription
Procedures. In order to purchase Shares, Subscriber shall: (i) deliver via e-mail to the Company at dean@splashbeveragegroup.com
one completed and duly executed copy of this Agreement, and (ii) for US investors, one completed and duly executed Accredited Investor
Questionnaire in the form attached hereto as Exhibit A, along with the Rule 506 Disqualifying Event Questionnaire if the Subscriber
is one of the persons set forth on the cover page to the 506 Disqualifying Questionnaire; and (iii) deposit into the bank account
(the “Escrow Account” maintained by Sichenzia Ross Ference LLP (the “Escrow Agent”) for this
offering) payment for the Shares in an amount equal to the Aggregate Purchase Price by certified or bank check covering immediately
available funds or through wire transmission, which Escrow Account is identified on Exhibit B, or otherwise provided upon request.
Execution and delivery of this Agreement shall constitute an irrevocable subscription for that aggregate principal amount of Shares
set forth on the signature page hereto. Receipt of funds wired into the Escrow Account or the deposit of checks into the Escrow
Account will not constitute acceptance of this Agreement by the Company. The Shares subscribed for will not be deemed to be issued
to, or owned by, Subscriber until the Company has executed this Agreement. The Aggregate Purchase Price tendered by Subscriber
will be held by the Escrow Agent pending acceptance or rejection of this Agreement by the Company and the closing of Subscriber’s
purchase of Shares. This Agreement will either be accepted by the Company, in whole or in part, in its sole discretion, or rejected
by the Company. If this Agreement is accepted only in part, Subscriber agrees to purchase such smaller amount of Shares as the
Company determines to sell to Subscriber. If this Agreement is rejected for any reason, this Agreement and all funds or other consideration
tendered herewith will be promptly returned to Subscriber, without interest or deduction of any kind, and this Agreement will be
void and of no further force or effect. Until the Company elects to accept or reject this Agreement, the Subscriber’s subscription
is revocable.

2.       Acceptance,
Offering Term and Closing Procedures

(a)       Acceptance.
Subject to full, faithful and punctual performance and discharge by the Company of all of its duties, obligations and responsibilities
as set forth in this Agreement, the Investor Warrant and any other agreement entered into between the Subscriber and the Company
relating to this subscription (collectively, the "Transaction Documents") to be performed or discharged on or
prior to the Closing in which such Subscriber participates, the Subscriber shall be legally bound to purchase the Shares pursuant
to the terms and conditions set forth in this Agreement. For the avoidance of doubt, upon the occurrence of the failure by the
Company to fully, faithfully and punctually perform and discharge any of its duties, obligations and responsibilities as set forth
in any of the Transaction Documents, which shall have been performed or otherwise discharged prior to the Closing (as defined below),
the Subscriber may, on or prior to the Closing, at its sole and absolute discretion, elect not to purchase the Shares and provide
instructions to the Company to receive the full and immediate refund of the Aggregate Purchase Price. The Offering shall commence
on January 21, 2021 and will terminated upon the earlier of the date upon which subscriptions for the Maximum Offering Amount have
been accepted; March 1, 2021 ( subject to the right of the Company to extend the offering until March 31, 2021 without further
notice to investors), unless the Offering is terminated sooner by the Company in its sole discretion (the “Termination
Date).

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(b)       Closing.
The closing of the purchase and sale of the Shares hereunder (the “Closing”) shall take place at such time and
place as determined by the Company and may take place in one of more closings. Closings shall take place on a Business Day promptly
following the satisfaction of the conditions set forth in Section 6 below, as determined by the Company (the “Closing
Date”). “Business Day” shall mean from the hours of 9:00 a.m. (Eastern Time) through 5:00 p.m. (Eastern Time)
of a day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required
to be closed. The initial closing shall be referred to as the “Initial Closing”. The date of the Initial Closing
is sometimes referred to as the “Initial Closing Date.” Subsequent closings (each a “Subsequent Closing”)
will be held until the earlier to occur of: (i) the date on which the Maximum Offering Amount has been subscribed for and (ii)
the Termination Date. Officers, directors and affiliates of the Company and the placement agent, if any, may purchase Shares in
the Offering.

 

(c)       Following
Acceptance or Rejection. The Subscriber acknowledges and agrees that this Agreement and any other documents delivered in connection
herewith will be held by the Company. Prior to the Company’s execution, in the event that this Agreement is not accepted
by the Company for whatever reason, which the Company expressly reserves the right to do, the Aggregate Purchase Price received
(without interest thereon) will be returned to the Subscriber at the address of the Subscriber as set forth in this Agreement.
If this Agreement is accepted by the Company, the Company is entitled to treat the Aggregate Purchase Price received as an interest
free loan to the Company until such time as the Subscription is accepted.

(d)       Extraordinary
Events Regarding Common Stock. If prior to the date the Subscriptions are accepted by the Company, in the event that the Company
shall (a) issue additional shares of Common Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide
its outstanding shares of Common Stock, or (c) combine its outstanding shares of the Common Stock into a smaller number of
shares of Common Stock, then, in each such event, the Purchase Price shall, simultaneously with the happening of such event, be
adjusted by multiplying the then Purchase Price by a fraction, the numerator of which shall be the number of shares of Common Stock
outstanding immediately prior to such event and the denominator of which shall be the number of shares of Common Stock outstanding
immediately after such event, and the product so obtained shall thereafter be the Purchase Price then in effect. The Purchase Price,
as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described herein. The
number of Shares that the Subscriber shall thereafter be entitled to receive shall be adjusted to a number determined by multiplying
the number of shares of Common Stock that would otherwise (but for the provisions of this Section) be issuable on such conversion
or exercise by a fraction of which (a) the numerator is the Purchase Price that would otherwise (but for the provisions of this
Section) be in effect, and (b) the denominator is the Purchase Price then in effect.

 

(e)       Certificate
as to Adjustments. In each case of any adjustment or readjustment in the Shares, the Company, at its expense, will promptly
cause its Chief Financial Officer or other appropriate designee to compute such adjustment or readjustment in accordance with the
terms hereof and prepare a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment is based. The Company will forthwith mail a copy of each such certificate to the Subscriber.

(f) Certificates
and Investor Warrant. Certificates representing the Shares purchased by the Subscriber pursuant to this Agreement as well as
the Investor Warrant will be prepared for delivery to the Subscriber within 15 business days following the Closing at which such
purchase takes place. The Subscriber hereby authorizes and directs the Company to deliver the certificates representing the Securities
purchased by the Subscriber pursuant to this Agreement directly to the Subscriber’s residential or business address indicated
on the signature page hereto.

3.       THE
SUBSCRIBER’s Representations, Warranties AND cOVENANTS

Each Subscriber,
severally and not jointly, hereby acknowledges, agrees with and represents, warrants and covenants to the Company, as follows:

(a)       The
Subscriber has full power and authority to enter into this Agreement, the execution and delivery of which has been duly authorized,
if applicable, and this Agreement constitutes a valid and legally binding obligation of the Subscriber, except as may be limited
by bankruptcy, reorganization, insolvency, moratorium and similar laws of general application relating to or affecting the enforcement
of rights of creditors, and except as enforceability of the obligations hereunder are subject to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or law).

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(b)       The
Subscriber acknowledges its understanding that the Offering and sale of the Securities is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(a)(2) of the Securities Act and the provisions of Regulation D promulgated thereunder
(“Regulation D”). In furtherance thereof, the Subscriber represents and warrants to the Company and its affiliates
as follows:

(i)       The
Subscriber realizes that the basis for the exemption from registration may not be available if, notwithstanding the Subscriber’s
representations contained herein, the Subscriber is merely acquiring the Securities for a fixed or determinable period in the future,
or for a market rise, or for sale if the market does not rise. The Subscriber does not have any such intention.

(ii)       The
Subscriber realizes that the basis for exemption would not be available if the Offering is part of a plan or scheme to evade registration
provisions of the Securities Act or any applicable state or federal securities laws, except sales pursuant to a registration statement
or sales that are exempted under the Securities Act.

(iii)       The
Subscriber is acquiring the Securities solely for the Subscriber’s own beneficial account, for investment purposes, and not
with a view towards, or resale in connection with, any distribution of the Securities.

(iv)       The
Subscriber has the financial ability to bear the economic risk of the Subscriber’s investment, has adequate means for providing
for its current needs and contingencies, and has no need for liquidity with respect to an investment in the Company.

(v)       The
Subscriber and the Subscriber’s attorney, accountant, purchaser representative and/or tax advisor, if any (collectively,
the “Advisors”) has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of a prospective investment in the Securities. If other than an individual, the Subscriber also represents
it has not been organized solely for the purpose of acquiring the Securities.

(vi)       The
Subscriber (together with its Advisors, if any) has received all documents requested by the Subscriber, if any, and has carefully
reviewed them and understands the information contained therein, prior to the execution of this Agreement.

(c)       The
Subscriber is not relying on the Company or any of its employees, agents, sub-agents or advisors with respect to the legal, tax,
economic and related considerations involved in this investment. The Subscriber has relied on the advice of, or has consulted with,
only its Advisors. Each Advisor, if any, has disclosed to the Subscriber in writing (a copy of which is annexed to this Agreement)
the specific details of any and all past, present or future relationships, actual or contemplated, between the Advisor and the
Company or any affiliate or sub-agent thereof.

(d)       The
Subscriber has carefully considered the potential risks relating to the Company and a purchase of the Securities, and fully understands
that the Securities are a speculative investment that involves a high degree of risk of loss of the Subscriber’s entire investment.

(e)       The
Subscriber will not sell or otherwise transfer any Securities without registration under the Securities Act or an exemption therefrom,
and fully understands and agrees that the Subscriber must bear the economic risk of its purchase because, among other reasons,
the Securities have not been registered under the Securities Act or under the securities laws of any state and, therefore, cannot
be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and under
the applicable securities laws of such states, or an exemption from such registration is available. In particular, the Subscriber
is aware that the Securities are “restricted securities,” as such term is defined in Rule 144 promulgated under the
Securities Act (“Rule 144”), and they may not be sold pursuant to Rule 144 unless all of the conditions of Rule
144 are met. The Subscriber also understands that the Company is under no obligation to register the Securities on behalf of the
Subscriber or to assist the Subscriber in complying with any exemption from registration under the Securities Act or applicable
state securities laws. The Subscriber understands that any sales or transfers of the Securities are further restricted by state
securities laws and the provisions of this Agreement.

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(f)       No
oral or written representations or warranties have been made, or information furnished, to the Subscriber or its Advisors, if any,
by the Company or any of its officers, employees, agents, sub-agents, affiliates, advisors or subsidiaries in connection with the
Offering, other than any representations of the Company contained herein, and in subscribing for the Shares the Subscriber is not
relying upon any representations other than those contained herein.

(g)       The
Subscriber’s overall commitment to investments that are not readily marketable is not disproportionate to the Subscriber’s
net worth, and an investment in the Securities will not cause such overall commitment to become excessive.

(h)       The
Subscriber understands and agrees that the certificates for the Securities shall bear substantially the following legend:

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT 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 (I) 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 TO THE HOLDER (IF REQUESTED
BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD OR ELIGIBLE TO BE 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.”

(i)       Neither
the SEC nor any state securities commission has approved the Securities or passed upon or endorsed the merits of the Offering.
There is no government or other insurance covering any of the Securities.

(j)       The
Subscriber and its Advisors, if any, have had a reasonable opportunity to ask questions of and receive answers from a person or
persons acting on behalf of the Company concerning the Offering and the business, financial condition, results of operations and
prospects of the Company, and all such questions have been answered to the full satisfaction of the Subscriber and its Advisors,
if any.

(k)               
Subscriber has carefully read the Memorandum, this Subscription Agreement and the exhibits
attached hereto and the Memorandum, including, without limitation, the risks set forth under the heading “Risk Factors,”
the Investor Warrant and this Agreement (collectively, the “Offering Materials”). In making the decision to invest
in the Securities, Subscriber has relied upon the information provided by the Company in the Offering Materials. Subscriber has
been advised to discuss with his, her, or its counsel the representations, warranties and agreements which Subscriber is making
by signing this Subscription Agreement, the applicable limitations upon Subscriber's resale of the Securities, and the investment,
tax and legal consequences of this Subscription Agreement. No oral or written representations have been made and no oral or written
information has been furnished to the Subscriber or his advisor(s) in connection herewith that were in any way inconsistent with
the information set forth in the Offering Materials and Subscriber disclaims reliance on any statements made or information provided
by the Company, the Selling Agent(s) or any of their respective employees, counsel or agents or any other person or entity in the
course of Subscriber’s consideration of an investment in the Securities other than those set forth in the Offering Materials.

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(l) Unless otherwise
indicated on a separate sheet of paper that details any such affiliation submitted by Subscriber to the Company along with this
completed Subscription Agreement, Subscriber is not affiliated directly or indirectly with a member broker-dealer firm of the Financial
Industry Regulatory Authority (“FINRA”) as an employee, officer, director, partner or shareholder or as a relative
or member of the same household of an employee, director, partner or shareholder of a FINRA member broker-dealer firm.

 

(m)              
The Subscriber hereby acknowledges that the Company makes filings with
the Commission and the Subscriber represents and warrants that the Subscriber has carefully reviewed the Company’s filings
with the Commission including the Company’s 10-K for the year ended December 31, 2019, the Company’s current reports
on Form 8-K (as well as any amendments to such Current Reports) filed with the Commission since December 31, 2019, the Company’s
Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed with the Commission on May 13, 2020 (as well as the amendments
to this 10-Q), the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the Commission
on August 13, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 filed with the
Commission on November 13, 2020. The Subscriber acknowledges that all documents filed by the Company pursuant to the Exchange Act
after the date of the Memorandum and prior to the termination of the Offering will be deemed to be incorporated by reference into
the Memorandum and to be a part of the Memorandum from the date of filing. Any
statement contained in the Memorandum (including this Agreement) or in a document incorporated or deemed to be incorporated by
reference in the Memorandum will be deemed to be modified or superseded for purposes hereof to the extent that a statement contained
herein or in any subsequently filed document which also is or is deemed to be incorporated by reference to the Memorandum modifies
or supersedes such statement. Any such statement so modified or superseded will not be deemed, except as modified or superseded,
to constitute a part of the Memorandum.

(n)            
The Subscriber acknowledges that the Company intends to use the proceeds of the Offering for
working capital and general corporate purposes. The Subscriber further acknowledges that the Company will have broad discretion
in the use of net proceeds of the Offering. 

(o)            
The Subscriber acknowledges that officers, directors, employees, agents and affiliates of
the Company may also purchase Securities on the same terms as the Subscriber.

(p)            
The Subscriber represents and warrants to the Company that prior to the purchase of the Shares
it has not entered into or effected any “short sales” of any shares of Common Stock of the Company or any hedging transaction
which establishes a net short position with respect to the shares of Common Stock of the Company, and (ii) covenants to the Company
that for a period of twelve months from the sale of the Shares it will not enter into or effect, any “short sales”
of any shares of Common Stock of the Company or any hedging transaction which establishes a net short position with respect to
the shares of Common Stock of the Company.

 

(q)            
The Subscriber acknowledges that any estimates or forward-looking statements or projections
furnished by the Company to the Subscriber were prepared by the management of the Company in good faith, but that the attainment
of any such projections, estimates or forward-looking statements cannot be guaranteed by the Company or its management and should
not be relied upon.

(r)        The
Subscriber hereby represents that the address of the Subscriber furnished by Subscriber on the signature page hereof is the Subscriber’s
principal residence if Subscriber is an individual or its principal business address if it is a corporation or other entity. Furthermore,
the Subscriber represents and warrants that: (i) the Subscriber was contacted regarding the sale of the Securities by the Company
(or an authorized agent or representative thereof) with whom the Subscriber had a prior substantial pre-existing relationship and
(ii) no Securities were offered or sold to it by means of any form of general solicitation or general advertising, and in connection
therewith, the Subscriber did not (A) receive or review any advertisement, article, notice or other communication published in
a newspaper or magazine or similar media or broadcast over television or radio, whether closed circuit, or generally available;
or (B) attend any seminar meeting or industry investor conference whose attendees were invited by any general solicitation or general
advertising; or (C) observe any website or filing of the Company with the SEC in which any offering of securities by the Company
was described and as a result learned of any offering of securities by the Company.

    7

     

    

 

(s)       The
Subscriber has taken no action that would give rise to any claim by any person for brokerage commissions, finders’ fees or
the like relating to this Agreement or the transactions contemplated hereby.

(t)       The
Subscriber is not relying on the Company or any of its employees, agents, or advisors with respect to the legal, tax, economic
and related considerations of an investment in the Securities, and the Subscriber has relied on the advice of, or has consulted
with, only its own Advisors.

(u)        The
Subscriber acknowledges that any estimates or forward-looking statements or projections furnished by the Company to the Subscriber
were prepared by the management of the Company in good faith, but that the attainment of any such projections, estimates or forward-looking
statements cannot be guaranteed by the Company or its management and should not be relied upon.

(v)       No
oral or written representations have been made, or oral or written information furnished, to the Subscriber or its Advisors, if
any, in connection with the Offering that are in any way inconsistent with the information contained herein.

(w)       (For
ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been informed
of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan
assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require diversification
of plan assets and impose other fiduciary responsibilities. The Subscriber or Plan fiduciary (i) is responsible for the decision
to invest in the Company; (ii) is independent of the Company and any of its affiliates; (iii) is qualified to make such investment
decision; and (iv) in making such decision, the Subscriber or Plan fiduciary has not relied primarily on any advice or recommendation
of the Company or any of its affiliates.

(x)       This
Agreement is not enforceable by the Subscriber unless it has been accepted by the Company, and the Subscriber acknowledges and
agrees that the Company reserves the right to reject any subscription for any reason.

(y)       The
Subscriber is an “Accredited Investor” as defined in Rule 501(a) under the Securities Act.

(z)       The
Subscriber, either alone or together with its representatives, has such knowledge, sophistication and experience in business and
financial matters so as to be capable of evaluating the merits and risks of the Offering, and has so evaluated the merits and risks
of such investment. The Subscriber has not authorized any person or entity to act as its Purchaser Representative (as that term
is defined in Regulation D of the General Rules and Regulations under the Securities Act) in connection with the Offering. The
Subscriber is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete
loss of such investment.

(aa) The Subscriber
acknowledges that there is limited trading market for the Shares and no trading market for the Warrants. The Company does not anticipate
that a market for the Warrants will ever develop. Further an active trading market for the Company’s common stock s may never
develop or, if developed, many not be maintained. The Subscriber will likely be unable to sell their securities unless a market
can be established or maintained.

(bb) The Subscriber
acknowledges that the Company may require additional funds to respond to business challenges or opportunities and expects to engage
in equity or debt financings in the near future to secure additional funds, although there cannot be any assurance that such funds
will be available to the Company. In addition, the Company does not expect that its existing capital resources and net proceeds
from this offering will be sufficient to enable us to fund our operations and we will need to raise additional capital to fund
our operations.

(cc)             
Subscriber acknowledges that the Company has given such Investor access to the corporate records
of the Company and to all information in its possession relating to the Company, has made its officers and representatives available
for interview by such Investor, and has furnished such Investor with all documents and other information required for such Investor
to make an informed decision with respect to the purchase of the Securities.

    8

     

    

(dd)            
Subscriber acknowledges that the Company’s counsel has prepared this Agreement at the
direction of the Company’s board of directors and that the Subscriber has received no representation from the Company’s
counsel about the personal tax or other consequences of a purchase of the Securities as contemplated in this Agreement. Such Subscriber
has relied on the Investor’s own legal and tax counsel to the extent such Investor deems necessary as to all matters and
questions concerning the purchase of the Securities and has not relied on any opinion of the Company, its counsel, or accountants.
Furthermore, such Subscriber has obtained, to the extent the Investor deems necessary, the Subscriber’s own professional
advice with respect to the risks involved with the purchase of the Securities, and the suitability of the investment in the Securities
in light of the Subscriber’s financial condition and investment needs.

4.       THE
COMPANY’S Representations, Warranties and Covenants

The Company hereby
acknowledges, agrees with and represents, warrants and covenants to each Subscriber, as follows:

(a)                
Authorization; Enforcement; Validity. The Company has the requisite power and authority
to enter into and perform its obligations under this Agreement and the other Transaction Documents and to issue the Securities
in accordance with the terms hereof and thereof. This Agreement has been, and the other Transaction Documents will be, prior to
the Closing, duly executed and delivered by the Company, and each constitutes the legal, valid and binding obligations of the Company,
enforceable against the Company in accordance with its respective terms, except as such enforceability may be limited by general
principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to,
or affecting generally, the enforcement of applicable creditors’ rights and remedies and except as rights to indemnification
and to contribution may be limited by federal or state securities law. 

(b)               
Issuance of Securities. The issuance of the Securities are duly authorized, and upon
issuance in accordance with the applicable Transaction Documents, will be validly issued, fully paid and non-assessable and free
from all preemptive or similar rights, taxes, liens, charges and other encumbrances with respect to the issue thereof, with the
holders being entitled to all rights accorded to a holder of Common Stock. Subject to the accuracy of the representations and warranties
of the Subscribers in this Agreement, the offer and issuance by the Company of the Securities is exempt from registration under
the Securities Act.

(c)                
Consents. The Company is not required to obtain any consent from authorization or order
of, or make any filing or registration with (other than (i) the filing with the SEC of a Form D under Regulation D of
the Securities Act and (ii) any action necessary in order to qualify the Securities, and any other filings as may be required
by any state securities agencies or “Blue Sky” laws of the states of the United States) any court, governmental agency
or any regulatory or self-regulatory agency or any other Person in order for it to execute, deliver or perform any of its respective
obligations under, or contemplated by, the Transaction Documents, in each case, in accordance with the terms hereof or thereof.
As used herein, Person means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint
venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any
kind

(d)               
Reserved. .

5. OTHER AGREEMENTS OF THE PARTIES

(a)       Form
D and Blue Sky. The Company shall file a Form D with respect to the Securities as required under Regulation D and to provide
a copy thereof to each Subscriber promptly after such filing. The availability of the filed Form D on EDGAR shall satisfy the foregoing
delivery requirement. The Company shall, on or before the Closing Date, take such action as the Company shall reasonably determine
is necessary in order to obtain an exemption for, or to, qualify the Securities for sale to the Subscribers at the Closing pursuant
to this Agreement under applicable securities or “Blue Sky” laws of the states of the United States (or to obtain an
exemption from such qualification), and shall provide evidence of any such action so taken to the Subscribers on or prior to the
Closing Date. Without limiting any other obligation of the Company under this Agreement, the Company shall timely make all filings
and reports relating to the offer and sale of the Securities required under all applicable securities laws (including, without
limitation, all applicable federal securities laws and all applicable “Blue Sky” laws), and the Company shall comply
with all applicable federal, foreign, state and local laws, statutes, rules, regulations and the like relating to the offering
and sale of the Securities.

    9

     

    

(b) Indemnification.
The undersigned agrees to indemnify and hold harmless the Company and any other finder or selling agent assisting in the sale
of nits and their respective officers and directors, employees and affiliates and each other person, if any, who controls any
of the foregoing, against any loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all
expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation commenced or threatened
or any claim whatsoever) arising out of or based upon any false representation or warranty by the undersigned, or the undersigned’s
breach of, or failure to comply with, any covenant or agreement made by the undersigned herein or in any other document furnished
by the undersigned to the Company, its officers and directors, employees and its affiliates and each other person, if any, who
controls any of the foregoing in connection with this transaction.

6.       CONDITIONS
TO ACCEPTANCE OF SUBSCRIPTION

a)                  
The Closing of the sale of the Shares is conditioned upon satisfaction of the following conditions
precedent on or before the Closing Date:

b)                  
As of the Closing, no legal action, suit or proceeding shall be pending against the Company
that seeks to restrain or prohibit the transactions contemplated by this Agreement.

c)                  
The representations and warranties of the Company and the Subscribers contained in this Agreement
shall have been true and correct in all material respects on the date of this Agreement (except whether such representations are
qualified by material or material adverse effect, which shall be true and correct in all respects) and shall be true and correct
as of the Closing as if made on the Closing Date and the Company shall have performed, satisfied and complied in all respects with
the covenants, agreements and conditions required to be performed, satisfied or complied with by the Company in connection with
the consummation of the transactions contemplated by the Transaction Documents at or prior to the Closing Date.

7.       MISCELLANEOUS
PROVISIONS

(a)       Each
of the parties hereto shall be responsible to pay the costs and expenses of its own legal counsel in connection with the preparation
and review of this Agreement and related documentation.

(b)       Neither
this Agreement, nor any provisions hereof, shall be waived, modified, discharged or terminated except by an instrument in writing
signed by the party against whom any waiver, modification, discharge or termination is sought.

(c)       The
representations, warranties and agreement of the Subscriber and the Company made in this Agreement shall survive the execution
and delivery of this Agreement and the delivery of the Securities.

(d)       Any
party may send any notice, request, demand, claim or other communication hereunder to the Subscriber at the address set forth on
the signature page of this Agreement or to the Company at its primary office (including personal delivery, expedited courier, messenger
service, fax, ordinary mail or electronic mail), but no such notice, request, demand, claim or other communication will be deemed
to have been duly given unless and until it actually is received by the intended recipient. Any party may change the address to
which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other parties written
notice in the manner herein set forth.

    10

     

    

(e)       Except
as otherwise provided herein, this Agreement shall be binding upon, and inure to the benefit of, the parties to this Agreement
and their heirs, executors, administrators, successors, legal representatives and assigns. This Agreement sets forth the entire
agreement and understanding between the parties as to the subject matter hereof and merges and supersedes all prior discussions,
agreements and understandings of any and every nature among them.

(f)       This
Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflicts
of law principles.

(g)       The
Company and each Subscriber hereby agree that any dispute that may arise between them arising out of or in connection with this
Agreement and any other agreement entered into in connection with the purchase of the Shares including the Investor Warrant shall
be adjudicated before a court located in the City of New York, Borough of Manhattan, and they hereby submit to the exclusive jurisdiction
of the federal and state courts of the State of New York located in the City of New York, Borough of Manhattan with respect to
any action or legal proceeding commenced by any party, and irrevocably waive any objection they now or hereafter may have respecting
the venue of any such action or proceeding brought in such a court or respecting the fact that such court is an inconvenient forum,
relating to or arising out of this Agreement or any acts or omissions relating to the sale of the securities hereunder, and consent
to the service of process in any such action or legal proceeding by means of registered or certified mail, return receipt requested,
postage prepaid, in care of the address set forth herein or such other address as either party shall furnish in writing to the
other.

(h)       WAIVER
OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

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

[Signature Pages Follow]

    11

     

    

ALL
SUBSCRIBERS MUST COMPLETE THIS PAGE

 

IN WITNESS WHEREOF,
the Subscriber, , has executed this Agreement on the ____ day of _____, 2021.

 

	 	x  $1.10 for per Share      =	 
	
        Number of Shares of Common Stock subscribed for

         

        __________________________

        Number of Warrant Shares (50% x number of shares of Common Stock
        subscribed for)
	 	      Aggregate Purchase Price

 

 

Manner in which Title is to be held (Please Check One):

	1.	___	Individual	7.	___	
        Trust/Estate/Pension or Profit sharing Plan

        Date Opened:______________

	2.	___	Joint Tenants with Right of Survivorship	8.	___	
        As a Custodian for

        ________________________________

        Under the Uniform Gift to Minors Act of the State of

        ________________________________

	3.	___	Community Property	9.	___	Married with Separate Property
	4.	___	Tenants in Common	10.	___	Keogh
	5.	___	Corporation/Partnership/ Limited Liability Company	11.	___	Tenants by the Entirety
	6.	___	IRA	 	 	 

 

ALTERNATIVE DISTRIBUTION INFORMATION

To direct distribution
to a party other than the registered owner, complete the information below. YOU MUST COMPLETE THIS SECTION IF THIS IS AN IRA INVESTMENT.

Name of Firm (Bank, Brokerage, Custodian):

Account Name:

Account Number:

Representative Name:

Representative Phone Number:

Address:

City, State, Zip:

    12

     

    

IF MORE THAN ONE SUBSCRIBER, EACH SUBSCRIBER
MUST SIGN.

INDIVIDUAL SUBSCRIBERS MUST COMPLETE THIS PAGE.

SUBSCRIBERS WHICH ARE ENTITIES MUST COMPLETE THE NEXT PAGE.

EXECUTION
BY NATURAL PERSONS

	
        __________________________________1___________________________________________

        Exact Name in Which Title is to be Held

	
        _________________________________

        Name (Please Print)
	 	
        _________________________________

        Name of Additional Purchaser

	
        _________________________________

        Residence: Number and Street
	 	
        _________________________________

        Address of Additional Purchaser

	
        _________________________________

        City, State and Zip Code
	 	
        _________________________________

        City, State and Zip Code

	
        _________________________________

        Social Security Number
	 	
        _________________________________

        Social Security Number

	
        _________________________________

        Telephone Number
	 	
        _________________________________

        Telephone Number

	
        _________________________________

        Fax Number (if available)
	 	
        ________________________________

        Fax Number (if available)

	
        _________________________________

        E-Mail (if available)
	 	
        ________________________________

        E-Mail (if available)

	
        __________________________________

        (Signature)

         

         
	 	
        ________________________________

        (Signature of Additional Purchaser)

	ACCEPTED this ___ day of _________ 2021, on behalf of the Company.
	 	
         

        By:_________________________________

        Name:

        Title:

	 	 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE FOR SUBSCRIPTION AGREEMENT]

    13

     

    

 

EXECUTION BY SUBSCRIBER WHICH IS AN ENTITY

(Corporation, Partnership, LLC, Trust,
Etc.)

 

	
        _____________________________________________________________________________

        Name of Entity (Please Print)

	Date of Incorporation or Organization:
	State of Principal Office:
	
        Federal Taxpayer Identification Number:

        ____________________________________________

        Office Address

         

        ____________________________________________

        City, State and Zip Code

         

        ____________________________________________

        Telephone Number

         

        ____________________________________________

        Fax Number (if available)

         

        ____________________________________________

        E-Mail (if available)

         

	 	By: _________________________________

Name:

Title:
	
        [seal]

        Attest: _________________________________

        (If Entity is a Corporation)
	
        _________________________________

        _________________________________

        Address

	 	 
	ACCEPTED this ____ day of __________ 2021, on behalf of the Company.
	 	
         

         

        By: _________________________________

        Name:

        Title:

 

 

 

[SIGNATURE PAGE FOR SUBSCRIPTION AGREEMENT]

    14

     

    

 

EXHIBIT A

INVESTOR QUESTIONNAIRE

Instructions: Check all boxes below
which correctly describe you.

		o	You are (i) a bank, as defined in Section 3(a)(2) of the Securities Act of 1933, as amended (the
“Securities Act”), (ii) a savings and loan association or other institution, as defined in Section 3(a)(5)(A) of the
Securities Act, whether acting in an individual or fiduciary capacity, (iii) a broker or dealer registered pursuant to Section
15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (iv) an insurance company as defined in
Section 2(13) of the Securities Act, (v) an investment company registered under the Investment Company Act of 1940, as amended
(the “Investment Company Act”), (vi) a business development company as defined in Section 2(a)(48) of the Investment
Company Act, (vii) a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301 (c)
or (d) of the Small Business Investment Act of 1958, as amended, (viii) a plan established and maintained by a state, its political
subdivisions, or an agency or instrumentality of a state or its political subdivisions, for the benefit of its employees and you
have total assets in excess of $5,000,000, or (ix) an employee benefit plan within the meaning of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”) and (1) the decision that you shall subscribe for and purchase shares of
common stock or preferred stock, is made by a plan fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings
and loan association, insurance company, or registered investment adviser, or (2) you have total assets in excess of $5,000,000
and the decision that you shall subscribe for and purchase the Shares is made solely by persons or entities that are accredited
investors, as defined in Rule 501 of Regulation D promulgated under the Securities Act (“Regulation D”) or (3) you
are a self-directed plan and the decision that you shall subscribe for and purchase the Securities is made solely by persons or
entities that are accredited investors.

		o	You are a private business development company as defined in Section 202(a)(22) of the Investment
Advisers Act of 1940, as amended.

		o	You are an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as
amended (the “Code”), a corporation, Massachusetts or similar business trust or a partnership, in each case not formed
for the specific purpose of making an investment in the Securities and its underlying securities in excess of $5,000,000.

		o	You are a director or executive officer of the Company.

		o	You are a natural person whose individual net worth, or joint net worth with your spouse, exceeds
$1,000,000 (excluding residence) at the time of your subscription for and purchase of the Securities.

		o	You are a natural person who had an individual income in excess of $200,000 in each of the two
most recent years or joint income with your spouse in excess of $300,000 in each of the two most recent years, and who has a reasonable
expectation of reaching the same income level in the current year.

		o	You are a trust, with total assets in excess of $5,000,000, not formed for the specific purpose
of acquiring the Securities and whose subscription for and purchase of the Securities is directed by a sophisticated person as
described in Rule 506(b)(2)(ii) of Regulation D.

		o	You are an entity in which all of the equity owners are persons or entities described in one of
the preceding paragraphs.

    15

     

    

Check all boxes below which correctly describe you.

With respect to this investment in the Securities, your:

Investment Objectives:  p
Aggressive Growth p Speculation

Risk Tolerance:  o
Low Risk  o Moderate Risk  p
High Risk

Are you associated with a FINRA Member Firm?  o
Yes  o No

Your initials (purchaser
and co-purchaser, if applicable) are required for each item below:

____  
____  I/We understand that this investment is not guaranteed.

____  
____  I/We are aware that this investment is not liquid.

____  
____  I/We are sophisticated in financial and business affairs and are able to evaluate the risks and merits of an investment
in this offering.

____  
____  I/We confirm that this investment is considered “high risk.” (This type of investment is considered
high risk due to the inherent risks including lack of liquidity and lack of diversification.  Success or

failure of private placements such as this is dependent on the corporate issuer of these securities and is outside the control
of the investors. While potential loss is limited to the amount invested, such loss is possible.)

The Subscriber hereby
represents and warrants that all of its answers to this Investor Questionnaire are true as of the date of its execution of the
Subscription Agreement pursuant to which it purchased the Securities.

	
        

        

        ___________________________________

        Name of Purchaser [please print]

        ___________________________________

        Signature of Purchaser (Entities please

        provide signature of Purchaser’s duly

        authorized signatory.)

        ___________________________________

        Name of Signatory (Entities only)

        ___________________________________

        Title of Signatory (Entities only)
	
        

        

        ___________________________________

        Name of Co-Purchaser [please print]

        ___________________________________

        Signature of Co-Purchaser

 

    16

     

    

 

[SIGNATURE PAGE FOR INVESTOR QUESTIONNAIRE]

 

This Rule 506 Disqualifying Event Questionnaire must be
completed ONLY by the following persons:

		·	Splash Beverage Group, Inc. , Inc. (the “Company”)

		·	Any predecessor of the Company or affiliated[1]
Company;

		·	Any director, executive officer,[2]
other officer participating in the Offering

		·	Any beneficial owner of 20% or more of the Company’s outstanding voting equity securities,
calculated on the basis of voting power

		·	Any promoter[3]
connected with the Company in any capacity at the time of the sale of securities

		·	Any person that has been or will be paid (directly or indirectly) remuneration for solicitation
of purchasers in connection with sales of securities in the Offering (a “compensated solicitor”); and any director,
executive officer, other officer participating in the Offering, general partner or managing member of any such compensated solicitor

 

SPLASH BEVERAGE GROUP, INC.

Rule 506 Disqualifying Event Questionnaire

 

Date:    _________________________________

 

Name:   _________________________________

 

This Questionnaire is being furnished
to you to obtain information in connection with an offering (the “Offering”) of securities by Splash Beverage
Group, Inc. (the “Company”) under Rule 506 of the Securities Act of 1933 (the “Securities Act”).
As used in this Rule 506 Disqualifying Event Questionnaire (this “Questionnaire”), “you” also
refers to any entity on whose behalf you are responding.

Important Note: Please answer
every question. If the Company has completed portions of the Questionnaire on your behalf, please confirm the accuracy of that
information. If your answer to a question is “Yes,” please provide a detailed explanation in the corresponding
space provided. Unless otherwise stated, your answers should be given as of the date you sign the Questionnaire. Certain questions
are necessarily broad in scope. If you have doubts regarding whether something should be included in your response please err on
the side of over-inclusion. The Company may have additional questions following your submission of this Questionnaire in connection
with the Offering.

Once you have completed the Questionnaire,
please sign it to indicate: (i) your consent for the Company to rely upon the information provided in this Questionnaire;
(ii) your acknowledgement that the Securities and Exchange Commission (the “SEC”) may require the Company
to publicly disclose the information provided in this Questionnaire, and your consent to such public disclosure; (iii) your agreement
to promptly notify the Company of any changes in information provided in the Questionnaire occurring after the date you sign the
Questionnaire; and (iv) your confirmation that the information contained in the Questionnaire is true and correct, to the
best of your knowledge and belief after a reasonable investigation, as of the date you sign the Questionnaire.

THE EXISTENCE AND CONTENTS OF THE
QUESTIONNAIRE, AS WELL AS YOUR ANSWERS AND ALL NOTES AND DRAFTS PREPARED BY YOU, ARE CONSIDERED CONFIDENTIAL AND PROPRIETARY BY
THE COMPANY AND SHOULD BE TREATED ACCORDINGLY. THE COMPANY MAY DISCLOSE THE CONTENTS OF THIS QUESTIONNAIRE TO THE EXTENT REQUIRED
BY APPLICABLE LAW, AS REASONABLY REQUIRED TO ESTABLISH AN EXEMPTION FROM STATE OR FEDERAL REGITRATION REQUIREMENTS FOR THE OFFERING
OR AS REQUIRED BY THE SEC. 

(2)
The term executive officer includes an issuer’s corporate officers, president, manager or managers (if issuer is a
limited liability company), officers in charge of a principal business unit, division or function (such as sales, administration
or finance), any other officer who performs a policy making function, and any other person who performs similar policy making functions
for the issuer, including executive officers of an affiliate of the issuer if such executive officers perform policy making functions
for the issuer.

(3) The term promoter includes:

(i) any person who, acting alone or
in conjunction with one or more other persons, directly or indirectly takes initiative in founding and organizing the business
or enterprise of an issuer; or

(ii) any person who, in connection with
the founding and organizing of the business or enterprise of an issuer, directly or indirectly receives in consideration of services
or property, or both services and property, 10 percent or more of any class of securities of the issuer or 10 percent or more of
the proceeds from the sale of any class of such securities. However, a person who receives such securities or proceeds either solely
as underwriting commissions or solely in consideration of property shall not be deemed a promoter within the meaning of this paragraph
if such person does not otherwise take part in founding and organizing the enterprise.

All persons coming within the definition
of promoter in paragraph (i) of this definition may be referred to as founders or organizers or by another
term provided that such term is reasonably descriptive of those persons' activities with respect to the issuer.

[4]
A “final order” is a written directive or declaratory statement issued by a federal or state agency described in Rule
506(d)(1)(iii) under the Securities Act of 1933 under applicable statutory authority that provides for notice and an opportunity
for a hearing, which constitutes a final disposition or action by that federal or state agency.

 

    17

     

    

Name, Address, Telephone
Number and Email

Your full name:

 

(i)     
Please provide all previous, assumed or fictitious names or aliases:

 

	Business Address:	Home Address:
	 	 
	 	 
	 	 
	Business Telephone: (      )	Home Telephone: (      )
	E-Mail Address:	 

Have
you been convicted, at any time within the past ten years, of any felony or misdemeanor:

in connection
with the purchase or sale of any security;

involving
the making of any false filing with the SEC; or

arising out
of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment advisor or paid solicitor
of purchasers of securities?

 

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

Are you subject to any order,
judgment or decree of any court of competent jurisdiction, entered at any time within the past five years, that restrains or enjoins
you from engaging or continuing to engage in any conduct or practice:

in connection
with the purchase or sale of any security;

involving
the making of any false filing with the SEC; or

arising out
of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor
of purchasers of securities?

 

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

    18

     

    

 

Are you subject to a final
order[4] of a state securities commission (or an agency
or officer of a state performing like functions), a state authority that supervises or examines banks, savings associations, or
credit unions, a state insurance commission (or an agency or officer of a state performing like functions), an appropriate federal
banking agency, the Commodity Futures Trading Commission (“CFTC”), or the National Credit Union Administration
(“NCUA”)that:

bars you from:

		·	association with an entity regulated by such commission, authority, agency or officer;

		·	engaging in the business of securities, insurance or banking; or

		·	engaging in savings association or credit union activities; or

constitutes
a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct entered
at any time within the past ten years?

 

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

Are you
subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the “Exchange
Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that:

		·	suspends or revokes your registration as a broker, dealer, municipal securities dealer or investment
adviser;

		·	places limitations on your activities, functions or operations; or

		·	bars you from being associated with any entity or from participating in the offering of any penny
stock?

 

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

Are you
subject to any order of the SEC, entered at any time within the past five years, that orders you to cease and desist from committing
or causing a future violation of:

		·	any scienter-based anti-fraud provision of the federal securities laws, including, but not limited
to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Section 15(c)(1) of the
Exchange Act and Section 206(1) of the Advisers Act, or any other rule or regulation thereunder; or

		·	Section 5 of the Securities Act?

 

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

Have
you been suspended or expelled from membership in, or suspended or barred from association with a member of, a registered national
securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct
inconsistent with just and equitable principles of trade?

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

Have
you filed (as a registrant or issuer), or were you named as an underwriter in any registration statement or Regulation A offering
statement filed with the SEC that, at any time within the past five years, was the subject of a refusal order, stop order, or order
suspending the Regulation A exemption, or are you the subject of an investigation or proceeding to determine whether a stop order
or suspension order should be issued?

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

Are you
subject to a United States Postal Service false representation order entered at any time within the past five years, or are you
subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal
Service to constitute a scheme or device for obtaining money or property through the mail by means of false representations?

☐ Yes. If yes, please
explain: ___________________________________________________________

☐ No.

 

(4)
An affiliate is a person or entity that directly or indirectly through one or more intermediaries controls, is controlled
by, or is under common control with, another person or entity.

    19

     

    

Are
you a member of or regulated by any financial industry regulatory organization, including, but not limited to, a state insurance
commission (or an agency or officer of a state performing like functions), the CFTC, the NCUA, the Financial Industry Regulatory
Authority (FINRA), the Financial Accounting Standards Board (FASB), the Federal Deposit Insurance Company (FDIC), Federal Reserve
System or any state bar or professional licensing authority?

 ☐ Yes. If yes, please list all applicable
organizations and your corresponding identification, license or registration number for each:
__________________________________________________________

 ☐ No.

 

 

 

 

[SIGNATURE PAGE FOLLOWS]

    20

     

    

 

If any information furnished by me
in this Questionnaire becomes inaccurate, incomplete or otherwise changes, I will promptly advise the Company to that effect
and furnish any supplementary information that may be appropriate as a result of any developments, including the passage of time
and any new relationships that may develop in the future.

The foregoing answers are correctly
and fully stated to the best of my knowledge, information and belief after a reasonable investigation.

 

__________________________________________________________________________

DateSignature

 

Print Name:______________________________

 

 

 

 

    21

     

    

 

EXHIBIT B

 

WIRE INSTRUCTIONS

 

To subscribe for Shares, each prospective investor must execute
a wire transfer or check payment payable to the Company’s escrow agent, Sichenzia Ross Ference LLP. The wire must be in the
full amount for the numbers of equity ownership interests being purchased.

 

Wire information:

 

Citibank

153 East 53rd Street

23rd Floor

New York, NY 10022

 

A/C of Sichenzia Ross Ference LLP

A/C#:       
4974921703

ABA#:       
021000089

SWIFT Code:CITIUS33

 

Ref: Splash Beverage Group, Inc. 

 

 

Should you prefer to pay via check, please
make the check payable to Sichenzia Ross Ference LLP and deliver to:

 

Sichenzia Ross Ference
LLP

1185 Avenue of the Americas,
37th Floor

New York, NY 10036

Attn: Darrin Ocasio

 

 

 

 

    22

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