Document:

Exhibit 10.1

 

LD-AG-001-NL

 

OFFICE
OFFER

 

QEEER
TO LEASE

 

	Print
    Date: 15 Sep 2015	To:	Sino
        Real Estate Agency Limited

        信和地產代理有限公司

        12/F.
        Tsim Sha Tsui Centre,

        Salisbury
        Road, Tsim Sha Tsui East,

        Kowloon

        (Agent
        for the Landlord - Ref.: N150700163)

        Contact
        Person : Timothy Ting/Tiffany Fong

        Tel
        No. : 2735 103.2/2735 1013

        Fax
No. : Nil

 

Dear Sirs,

 

I/We, the
intended tenant hereby offer to rent the premises described below from the Landlord, on the following principal terms and conditions:

 

	1.	(i)	Name
    of Landlord	Wide
        Harvest investment Limited

        廣滔投資有限公司

	 	 	 	 
	 	(ii)	Registercd
    office/principal place of business in Hong Kong of the Landlord	11-12/F.,
        Tsim Sha Tsui Centre.

        Salisbury
        Road,

        Tsim
        Sha Tsui,

        Kowloon

	 	 	 	 
	2.	(i)	Name
    of Tenant	MAN
        Loong BULLion COMPANY LIMITED

        萬隆金銀業有限公司

	 	 	 	 
	 	(ii)	Certificate
    of Incorporation No.	1186382

         

	 	 	 	 
	 	(iii)	Business
    Registration No. of the Tenant	386991.36
	 	 	 	 
	 	(iv)	Registered
    office/principal place of business in Hong Kong/address of the Tenant	8/F
        TOWER 5

        CHINA
        HONG KONG CITY

        33
        CANTON RD

        TSIM
SHA TSUI KLN. Hong Kong

	 	 	 	 
	 	(v)	e-Billing
    Email Address	Nil
	 	 	 	 
	 	(vi)	Contact
    Person	Mr.
    Francisco M Xavier
	 	 	 	 
	 	 	Tel
    No.	31874428
	 	 	 	 
	 	 	Fax
    No.	Nil
	 	 	 	 
	 	 	Email
    Address	franciscogmanloong.com
	 	 	 	 
	 	 	Correspondence
    Address	8/F
        TOWER 5

        CHINA
        HONG KONG CITY

        33
        CANTON RD

        TSIM
        SHA TSUI KLN, HONG KONG

 

    	 	 

     

    

 

	Address	:	25/F., Jardine House, 1 Connaught Place, Central, Hong Kong
	 	 	 
	Contact
    Person	:	Ms
    Yan Man	 
	 	 	 	 
	Contact
    Tel. No.	:	2847
    7824	 
	 	 	 	 
	Personal
    Guarantee Preparation and Administration Cost	:	N/A	 
	 	 	 	 
	User	:	For use only by the Tenant as office premises and for no other purpose whatsoever. The Landlord gives no warranty as to the suitability or fitness of the Premises for thesaid user.
	 	 	 
	Handover
    Condition	:	Bare
    shell	 
	 	 	 	 
	Rent
    Free Period(s)	:	Sixteen (16) days from 16 Oct 2015 To 31 Oct 2015 (both days inclusive)
	 	 	 
	 	 	Thirty (30) days from 01 Nov 2015 to 30 Nov 2015 (both days inclusive)
	 	 	 
	Payments
    upon commencement of the Tenancy Agreement or handover (whichever is the earlier)	:	Period
    	 
	 	 	 	 
	(i) Rent	:	01 Dec 2015. To
31 Dec 2015	HK$171,000.00
	 	 	 	 
	(ii)
    Management fee and air-conditioning charge (if any)	:	16
    Oct 2015 to 30 Nov 2015	HK$60,443.52
	 	 	 	 
	(iii)
    Cleaning Service Charges	:	 	N/A
	 	 	 	 
	(iv)
    Government Rates	:	16
    Oct 2015 to 31 Dec 2015	HK$18,705.98
	 	 	 	 
	(v)
    Government Rent	:	 	N/A
	 	 	 	 
	(vi)
    Balance of Deposit	:	 	HK$873,268.00
	 	 	 	 
	(vii)
    Temporary electricity charge (non-refundable)	:	 	HK$5,402.00
	 	 	 	 
	(viii)
    Vetting Charget non-refundable)	:	 	HK$8,103.00
	 	 	 	 
	(ix)
    The debris removal cost (non-refundable)	:	 	N/A
	 	 	 	 
	(x)
    Fitting out deposit (refundable subject to Clause 12 of Part II, Schedule I of this offer)	:	 	HK$5,402.00
	 	 	 	 
	(xi)
    Tenancy Preparation and Administration Cost	:	 	N/A
	 	 	 	 
	(xii)
    Stamp Duty	:	 	N/A
	 	 	Total:  	HK$1,142,324.50
	 	 	 	 
	 	:	As
    set out in Schedule I hereto	 
	 	:	As
    set out in Schedule II hereto	 

  

18.Standard
Terms & Conditions forming an

integral
part of this offer

 

19.Special
Conditions forming an integral

part of
this offer, if any

 

20.Landlord’s
Provision,if any

Remark :N/A

 

-------------------------------------------------------------------------------**********-----------------------------------------------------------------------------------

 

    	 	 

     

    

 

Together
with this offer,I/we enclose my/our initial deposit and advance payment in cheque. Subject as aforesaid,this sum shall be returned
to me/us in full,but without interest, if my/our offer is not accepted by the Landlord in the manner hereinafter appearing within
14 days from the date hereof.

 

	Yours
    faithfully,	 	Offer
    Accepted by :
	 	 	 
	 	 	 
	Duty
    authorized person for and on behalf of	 	Sino
    Real Estate Agency Linited
	MAN
    LOONG BULLION COMPANY LIMITED	 	信和地產代理有限公司
	萬隆金銀業有限公司	 	as
    agent for the Landlord

 

Name:

HKID Card
No. /Passport No. and place of its issuance : 

 

    

     

    

 

LD-AG-001-NL

 

SCHEDULE
I

 

PART
I

 

General
Terms & Conditions

  

1.         Rent

 

	(i)	The
    monthly rent shall be payable monthly in advance on the 1" day of each calendar month without any deduction, counterclaim
    or set off.

 

	(ii)	The
    rent is exclusive of rates and government rent, management fee and air-conditioning charge (if any), cleaning service charges
    (if any) and all Tenant's expenses and outgoings of a non-capital or recurring nature.

 

2.         Government
Rates

 

The
amount of Government Rates is subject to revision from time to time as advised by the Government and is payable by the Tenant
in advance on the first day of the months of January, April, July and October.

 

3.         Government
Rent

 

The
amount of Government Rent is subject to revision from time to time as advised by the Government and is payable by the Tenant in
advance on the first day of the months of January, April, July and October. 

 

4.         Deposit

 

	(i)	The
    amount of security deposit shall be equivalent to the specified multiple of monthly rent management fee and air-conditioning
    charge (if any), cleaning service charges (if any), and rates and government Rent . From time to time, the deposit may be
    adjusted by the Landlord to accord with any increase of the monthly rent, management fee and air-conditioning charge (if any),
    cleaning service charges (if any), or rates and government rent.

 

	(ii)	The
    deposit shall be retained by the Landlord throughout the Term without payment of interest to the Tenant and the Tenant hereby
    specifically authorises the Landlord (but without prejudice to any other Landlord' s right or remedy) to deduct and apply
    the deposit in payment of and/or call the bank guarantee (if any) in order to pay (i) the amount of any rent, rates, government
    rent, management fee and air-conditioning charge (if any) and cleaning service charges (if any) and other charges payable
    he reunder by the Tenant; and (ii) any costs, expenses, loss or damage sustained by the Landlord as the result of any of non-observance
    or non-performance by the Tenant of any of the covenants, agreements, stipulations, obligations or conditions he rein contained.

 

	(iii)	Subject
    as aforesaid the deposit shall be refunded to the Tenant by the Landlord without interest within forty five (45) days after
    (i) the expiration or Sooner determination of this Agreement and delivery of vacant possession to the Landlord and (ii) settlement
    of the last outstanding claim by the Landlord against the Tenant for any arrears of rent and other payments or charges payable
    hereunder and for breach of any terms and conditions here in contained by the Tenant.

 

    	 		 

     

    

 

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5.         Stamp
Duty

 

Stamp
duty and registration fees (if any) shall be borne by the parties here to in equal shares.

 

6.         User

 

The user
of the Premises is restricted to the purpose as office premises only and for no other purpose whatsoever.

 

The Landlord
gives no warranty as to the suitability or fitness of the Premises for the said user.

  

7.         Tenancy
Agreement

 

	(i)	While
    the Tenancy Agreement shall contain the terms herein, it shall otherwise be on the terms and conditions contained in the Landlord's
    standard form of Office Tenancy Agreement ("Tenancy Agreement").

 

	(ii)	The
    Tenant understands that prior to the signing of the Tenancy Agreement, the Tenant should seek independent legal advice to
    advise the Tenant thereon and satisfy himself as to the terms and conditions thereof.

 

	(iii)	If
    this offer is accepted, the Tenant shall execute the Tenancy Agreement in accordance with the terms of a notice in writing
    from the Landlord or the Landlord's solicitor.

 

	(iv)	In
    the event that the Landlord has furnished us with the Tenancy Agreement, the Tenant confirms and acknowledges that the Tenant
    fully and thoroughly understands the terms and conditions of the Tenancy Agreement and confirm that they form an integral
    part of this offer.

 

	(v)	The
    Tenant agrees, without prejudice to the Landlord's rights herein, that:

  

	 	(a)	The
    Premises including the keys will not be handed over to the Tenant unless and until the Tenancy Agreement has been duly signed
    or executed; and

 

	 	(b)	All
    the payments due and payable to the Landlord have been made; and

 

	 	(c)	The
    commencement date of the Term of the Tenancy Agreement shall nonetheless remain as set out in this offer.

  

	(vi)	Unless
    the Tenant shall have engaged a separate firm of solicitors to act on its behalf, the Tenant is required to attend either
    of the following offices (as the case maybe) for signing the Tenancy Agreement:

  

	 	(a)	office
    of the Landlord' s solicitors as specified herein; or

 

	 	(b)	office
    of Sino Real Estate Agency Limited (信和地產代理有限公司) if the
    name of the Landlord' s solicitors is not provided herein.

 

    	 	2	 

     

    

  

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-NL

 

 

8.         Entire
Offer

 

	(i)	This
    Offer together with the Guarantee (if any) supersedes any and all previous offers between the parties hereto, and constitutes
    the entire offer.

 

	(ii)	Any
    representation, warranty, statement or offer, whether oral or in writing, heretofore made relating to any of the matters referred
    to herein are hereby expressly denied, negated and excluded, unless agreed or confirmed by the parties in writing.

 

	(iii)	In
    the event of any inconsistency between the terms of this Offer and the terms of any document referred to herein (including
    Appendices attached hereto), the terms of this Offer shall prevail.

 

9.         Delivery
of the Premises

 

Subject
to the Tenant’ s duly signing or executing the Tenancy Agreement and the Tenant’ s making payment of all sums required,
the Landlord will deliver vacant possession of the Premises to the Tenant in such condition as set out herein.

 

10.       Rent
Free Period

 

The
granting of rent free period(s) sha)] be subject to the Tenant' s due observance and performance of all the conditions contained
herein and in the Tenancy Agreement. -

 

Notwihstanding
any rent free period granted to the Tenant, the Tenant acknowledges that the Tenant is still obliged to pay the management fee
and air-conditioning charge (if any), cleaning Service charges (if any), rates and government rent and all other Tenant’
s outgoings payable by he Tenant he hereunder.

 

11.       Payments

 

The
Tenant agrees that before the Tenant take possession of the Premises or the commencement date of the Tenancy Agreement (whichever
is earlier), The Tenant shall pay to the Landlord all he payments as set out herein.

 

12.       Personal
Guarantee

 

Where the Tenant is required
to provide personal guarantee as specified herein, this tenancy shall be conditional upon such specified person(s) having executed
a deed of guarantee and indemnity in a form to be prescribed by the Landlord to guarantee

 

	(i)	The
    due punctual and diligent performance of the Tenant of all its obligations under this tenancy and to indemnify the Landlord
    against any claim of any nature whatsoever arising out of the use and occupation by the Tenant of the Premises; and

 

	(ii)	Tenant's
    prompt delivery of vacant possession of the Premises upon the expiration or sooner determination of the tenancy in accordance
    with the terms of the Tenancy Agreement and to indemnify the Landlord for all loss and damage arising from the Tenant's breach.

 

    	 	3	 

     

    

 

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The Tenant
shall bear all costs and expenses (including legal costs of the Landlord’ s Solicitors and administrative costs of the Landlord)
for the preparation, approval and completion of the deed of guarantee.

 

13.       Validity
of Offer

 

In
consideration of the Landlord' s agreeing to consider this offer, the Tenant hereby warrants, confirms and undertakes to the Landlord
that:

 

	(i)	This
    offer is unconditional and shall remain open for acceptance by the Landlord in its current form for a period of 14 days from
    the date hereof.

 

	(ii)	Within
    this period, the Tenant will neither revoke, withdraw nor amend this offer.

 

	(iii)	If
    within this period, and for any reason whatever the Tenant purport S to revoke Withdraw or amend this offer, then the Tenant
    agrees and declares that the Landlord may retain for its own use absolutely the money the Tenant now enclose in respect of
    the initial deposit, as an agreed recompense for, and pre-estimate of, the loss or damage the Landlord would suffer as a result
    of the breach of my/our warranty and undertaking,

 

	(iv)	Should
    the Landlord not accept this offer within the said period, this offer shall be deemed to have been withdrawn and the Landlord
    shall return the initial deposit to the Tenant without interest and neither party shall have any claim against the other.

 

14.       Acceptance
of Offer

 

Notwithstanding anything to the contrary contained
herein or otherwise, the Tenant acknowledges and declares that

 

	(i)	There
    shall be no binding agreement for the grant of a tenancy between the parties unless and until, and within 14 days from the
    date hereof, the Landlord has signified its acceptance of this offer in writing, whereupon there shall be a binding agreement
    between the parties.

 

	(ii)	Such
    binding agreement shall continue in full force and effect until Superseded by the formal Tenancy Agreement.

 

	(iii)	Until
    the Landlord has accepted this offer in the prescribed manner, it shall be under no obligation whatsoever to enter into any
    form of agreement with the Tenant in relation to the Premises.

 

	(iv)	The
    Landlord' s acceptance of this offer shall be evidenced by its returning to the Tenant within 14 days from the date of its
    acceptance, a signed and dated copy of this offer.

 

    	 	4	 

     

    

 

LD-AG-001-NL

 

15.       Failure
to execute Tenancy Agreement

 

Following
the Landlord's acceptance of this offer, should the Tenant fail to execute the formal Tenancy Agreement in accordance with a notice
in writing from the Landlord or its solicitors, the Landlord may stamp this offer, thereby deeming the Tenancy Agreement to have
been signed and to be enforceable against the parties; and/or if the Tenant still fails to execute the formal Tenancy Agreement
within one month from the Term Commencement Date as specified he rein (whether formerly demanded by the Landlord or not), the
Landlord may terminate the agreement by giving not less than seven (7) days written notice to the Tenant.

 

Upon the
expiry of the period of notice specified in the aforementioned notice, the agreement shall immediately cease and be determined
whereupon the initial deposit shall be forfeited to the Landlord absolutely, as and for liquidated damages and not as a penalty,
but without prejudice to any other right or remedy, and the Landlord will be entitled to let the Premises on such terms as it
sees fit.

 

If the agreement
has been registered at the Land Registry, the Landlord may register a memorandum of termination, signed for and on its behalf
alone, which shall be conclusive evidence of the fact that the agreement has been terminated.

 

    	 	5	 

     

    

 

LD-AG-001-NL

 

PART II
Other Terms & Conditions

 

	1.	The
    Tenant shall pay rent, management fee, air-conditioning charge (if any), cleaning Service charges (if any) on or before the
    first day of each and every calendar month.

 

	2.	The
    Tenant shall pay rates, government rent as assessed by the Government. Rates and government rent shall be paid quarterly in
    advance on the first day of the months of January, April, July and October.

 

	3.	Without
    prejudice to the right of the Landlord to exercise any other right or remedy (including the right of re-entry) under this
    Offer, in the event of default in payment of Rent and/or any charges payable hereunder or any part thereof on its due date,
    the Tenant shall further pay to the Landlord on demand interest on the amount in arrears at the rate of 1.5% per month calculated
    from the date on which the same became due for payment until the date of payment as liquidated damages and not as penalty.

 

	4.	(i)
    The Tenant shall keep the interior of the Premises and all the Landlord's fixtures and additions in good, clean, tenantable
    and proper repair condition and shall yield upthe same at the expiration or sooner determination of this tenancy in such repair
    and the like condition Provided That

 

	 	(a)	The
    Landlord may at its discretion require the Tenant and the Tenant shall, upon such request and at its own cost, remove or do
    away with all or any of the a} terations, fixtures or additions to the Premises or any part(s) thereof (irrespective of whether
    the same was made by the Tenant or not or whether with or without the Landlord s consent) and make good and repair in a proper
    and workmanlike manner any damage to the Premises as a result thereof before delivering up the Premises to the Landlord in
    accordance with the conditions and requirements as set out in the Landlord' s Reinstatement Guide/Guidelines (which may be
    amended from time to time) to the satisfaction of the Landlord. The Landlord has the right to waive or vary any of the conditions
    or requirements in the said Reinstatement Guide/Guidelines in writing.

 

	 	(b)	Notwithstanding
    anything to the contrary contained in other provisions of this offer and/or the subsequent Tenancy Agreement, the Tenant agrees
    and declares that upon yielding up the Premises to the Landlord according to the above provisions, the door at the entrance
    of the Premises shall be of a fire-rated type and firerated damper(s) for air ducts connecting to common corridor shall be
    installed in the Premises in compliance with the then applicable statutory fire safety requirements irrespective of whether
    such fire- rated entrance door and/or damper(s) were provided by the Landlord at the commencement of the Term. The Tenant
    shall, if so requested by the Landlord, produce to the Landlord at the time of yielding up the Premises a certificate and
    test report from the contractor confirming that the quality of the fire-rated door meets with the statutory requirements.

 

	 	(c)	Should
    the Tenant fail to comply with Sub-clauses (a) or (b) above, the Landlord shall be entitled to remove the said alterations,
    fixtures or additions and reinstate the Premises (and/or to replace the entrance door by fire-rated one and/or install the
    fire-rated damper(s)) at the sole expense of the Tenant and to recover such cost from the Tenant by action or by deduction
    from the deposit paid by the Tenant under this agreement.

 

    	 	6	 

     

    

  

LD-AG-001-NL

 

	 	(ii)	Immediately
    prior to delivery or redelivery to the Landlord of the fan coil units or similar indoor parts of the air-conditioning units
    within the Premises and all airconditioning units serving the Premises exclusively (whether they are of Split-type or window
    type, whether they are situated inside or outside the Premises and whether they belong to the Tenant or the Landlord or any
    other person or corporation, the Tenant shall employ at its own expenses a cleaning contractor approved by the Landlord to
    carry out a final cleaning (with the application of chemical) to such units and shall produce to the Landlord upon its request
    the receipt of the contractor' s charges for such cleaning. Should the Tenant fail to carry out the cleaning work, the Landlord
    shall be entitled to carry out the same at the expense of the Tenant and to recover such cost from the Tenant by action or
    by deduction from the deposit paid by the Tenant under this Agreement.
	 	 	 
	 	(iii)	For
    the avoidance of doubt, the Tenant shall not be entitled to any delay, extension or postponement of the delivery of possession
    of the Premises to the Landlord in case the day on which the expiration or termination falls on a Sunday or public holiday.

 

	5.	The
    Tenant shall permit the Landlord and its agents with or without workmen or others and with or without appliances at all reasonable
    time upon reasonable notice to enter upon the Premises to view the condition thereof and (i) to carry out necessary repair
    and maintenance work to the Landlord's fixtures and fittings therein; or (ii) to carry out Other work for compliance with
    any law, rule, regulation or any requirement or notice or order of any Government department or competent authority; or (iii)
    for any reasons whatsoever for which entry is considered necessary by the Landlord.

 

	6.	The
    Tenant shal not use the Premises for any purpose other than as specified herein.

 

	7.	The
    Tenant shall not transfer, assign, underlet, license, share or otherwise part with the possession of the Premises or any part
    thereof either by way of sub-letting, lending sharing or any other means whereby any person not a party to this offer and/or
    the subsequent Tenancy Agreement obtains the use or possession of the Premises or any part thereof.

 

	8.	The
    Tenant shall indemnify the Landlord against all liabilities, claims, demands, actions, proceedings, damages, losses, costs
    and expenses (arising directly or indirectly) from or incidental to (i) the fitting out, use or occupation of the Premises,
    (ii) the execution, existence or removal of alterations, additions or repairs to the Premises, (iii) any noncompliance by
    the Tenant with its obligations under this offer and/or the Subsequent Tenancy Agreement, or (iv) any other act, default,
    neglect or omission by the Tenant, its employees, contractors, servants, agents, licensees, visitors tors or invitees.

 

	9.	(i)	The
    Tenant shall design, fit out, lay out, decorate or furnish the Premises in a way not to diminish the function, increase the
    operative costs or in any way affect or tamper with the operation of any services, decorations or facilities of the Building.

 

	 	(ii)	Detailed
    plans for internal partitioning and/or decoration works, including but not limited to electrical and mechanical layouts shall
    be submitted to the Landlord for approval before commencement of any works. The Landlord or his authorized agents shall have
    the absolute discretion in granting or refusing such approval. The approval to be granted shall be subject to such condition
    as the Landlord or his authorized agent may think fit. The Landlord may use and provide to any subsequent user(s) or occupier(s)
    of the Premises or any other person(s) for use of the plans for the purposes of reinstatement, additions, decoration, repair
    or maintenance of the Premises or any parts thereof. The Tenant shall employ at the Tenant’ s expenses only Such contractors
    approved by the Landlord to examine all the electrical and mechanical Works in the Premises at least once a year or at such
    intervals as directed by the Landlord or the Building Manager and shall provide all relevant certificates and reports rendered
    by the approved contractors to the Landlord or the Building Manager as soon as the electrical and mechanical works are completed,
    renewed or examined. Electrical and mechanical works includes but not confined to electrical, plumbing, building automation,
    fire fighting installations, fuel gas system, ventilation System and hazardous gas/materials detectors.

 

    	 	7	 

     

    

 

LD-AG-001-NL 

 

	 	(iii)	(a)	Should
    the Tenant require to install and/or replace any door(s), partition wall (s) or construction element(s) ( "Fire Rated
    Elements” ) of the Premises that require fire resistance rating under any applicable laws, rules and regulations, the
    Fire Rated Elements must be of fire-rated type and comply with such laws, rules and regulations and Landlord' s requirements.
    The Tenant shall within 14 days after completion of the installation and/or replacement work provide to the Landlord a certificate
    and test report from the contractor confirming that quality of the Fire Rated Elements meets with the statutory requirements
    at time of the installation/replacement.
	 	 	 	 
	 	 	(b)	If
    the Tenant fails to provide the certificate and test report from the contractor as required under sub-clause (iii) (a) above,
    the deposit for fitting out work shall not be returned to the Tenant until the failure has been rectified. Without prejudice
    to the aforesaid and any other rights or remedies that the Landlord may have, the Landlord, its servants, contractors or agents
    shall also be entitled and/or are hereby authorized or deemed to have been authorized by the Tenant, after the aforesaid failure
    of the Tenant, to demolish the Fire Rated Elements or any of them already installed and/or replaced by the Tenant or its contractor
    and to replace them or any of them by other door(s), wall (s) and/or construction element(s) (as the case may be) chosen by
    any of them at their own choice but at the costs of the Tenant and without incurring any liability to the Tenant. The Landlord
    shall be entitled to deduct all costs incurred by it for the demolishing and replacement of the Fire Rated Elements as provided
    before in this clause from the deposit for fitting out work. The Tenant shall pay to the Landlord immediately upon demand
    any deficiency of the costs, if any, after deduction of the deposit.

 

	 	(iv)	The
    Tenant shall take at its own expenses adequate and proper measures to avoid or prevent or minimize the risk of any loss or
    damage to property or injury or death to person in connection with operation of its business in the Premises ( "Preventive
    Measures" ). The Preventive Measures shall include but not limited to provision or installation of hazardous gas/materials
    detectors, ventilation system, fire fighting system and slip proof installations and equipments and such other measures as
    the Landlord or the Building Manager may in its absolute discretion think necessary for the avoidance, prevention or minimization
    as aforesaid.
	 	 	 
	 	(v)	The
    Tenant shall permit and accompany the Landlord, its agents or the Building Manager at all reasonable times to enter the Premises
    and view the state and condition of the electrical and mechanical works and the Preventive Measures. Should any defect or
    want of repair be found on the electrical and mechanical works or the Preventive Measures or any part thereof, the Tenant
    shall make arrangement to remedy the same forthwith upon request by the Landlord, its agents or the Building Manager. The
    Landlord, its agents or the Building Manager shall not by virtue of exercise of its right provided under this sub-clause incur
    any liability whatsoever over the electrical and mechanical works or the Preventive Measures and shall not be liable for any
    defect or irregularity thereof which shall be the sole responsibility of the Tenant.

 

    	 	8	 

     

    

 

LD-AG-001-NL

  

	10.	The
    Tenant shall not make any alterations or additions to any fixtures or fittings or electrical wi ring or electrical/mechanical
    instal lations or fi re-prevention system or airconditioning system or plumbing and drainage system or building services system
    without the prior Written consent of the Landlord and to use the Landlord's approved contractor for carrying out and installing
    mechanical and electrical engineering work at the Tenant’ s sole costs and expenses.

 

	11.	The
    Tenant shall be responsible for the cost of the installation of sub-main cable to and all other alteration works at the Premises.

 

	12.	Prior
    to carrying out any fitting out or other works to the Premises, the Tenant shall take out adequate insurance to cover all
    risks for the fit out work and pay to the Building Manager a vetting charge for his checking and approving the fit out plans
    and inspection of the fit out works, and a refundable deposit as security for any damage to the Building caused as a result
    of the Tenant's fit out works and the removal of any debris and for compliance of all fitting out requirements whether under
    this Agreement or the Tenant’ s Fitting-Out Guide.

 

	13.	The
    Tenant shall remove at the Tenant's own expense all debris and rubbish resulting from such fitting out work to the location
    designated by the Landlord or the Building Manager or their authorised agents in an orderly and proper manner.

 

	14.	The
    Tenant shall pay temporary electricity charge and debris removal charges to the Building Manager as required.

 

	15.	The
    Tenant shall keep the Premises including all windows at all times in a clean and sanitary state and condition to the satisfaction
    of the Landlord. For the avoidance of doubt, the above obligation of the Tenant shall cover any toilet, open space, open seating
    area, garden, car parking space and any other kinds of spaces or areas within or included in the Premises or designated for
    the use of the Tenant and the fittings and installations the rein. If, in the opinion of the Landlord, the Tenant fails to
    keep the Premises in the aforesaid condition, the Landlord shall have the right (but not oblige) to enter the Premises and
    arrange cleaning or other work to be carried out to the Premises which the Landlord in its absolute discretion consider necessary
    to maintain the Premises in such condition and the Tenant shall pay to the Landlord all costs incurred therefor.

 

	16.	(i) Each party
    shall take every reasonable precaution to ensure that its agents, officers or employees and in addition, in case of the Tenant,
    its contractors, Solicitors and other professional advisers do not :-

 

	 	(a)	disclose any
    term of this offer and/or the Subsequent Tenancy Agreement ; or

 

    	 	9	 

     

    

 

LD-AG-001-NL

 

	 	(b)	disclose
    or use any information acquired in connection with this offer and/or the subsequent Tenancy Agreement or acquired in connection
    with the negotiations leading up to it save when necessary for the performance of that party' S obligations under this offer
    and/or the subsequent Tenancy Agreement or as the other party may first agree in writing.
	 	 	 
	 	(ii)	This
clause shall not operate so as to prevent a disclosure which is made: -

   

(a)
to a public authority under compulsion of law;

 

(b)
to a court of law in Hong Kong Special Administrative Region or elsewhere or otherwise in any legal proceeding;

 

(c)
to the auditors of , or any lawyer or professional person being under a duty of confidentiality in acting for that party, or when
advising a party as to the performance of its obligations under or in connection with this offer and/or the Subsequent Tenancy
Agreement; -

 

(d)
to banks and/or financial institutions for the purposes of the Landlord' s raising and/or arranging finance and/or refinancing,
whether in connection with the Premises, the development in which the Premises are situated or otherwise; -

 

(e)
in connection with the fulfillment of any rules, regulations or other requirements of any stock exchange or any relevant regulatory
authority for any purpose whatsoever;

 

(f)
in connection with any sale, assignment, transfer or other disposal of the Premises, the Building and/or development in which
the Premises are situated or any part thereof or any interest the rein and/or of the shares and/or business of the Landlord, or
the discussion or negotiation thereof;

 

(g)
for the purposes of rental collection and/or property management.

  

	17.	The
    Landlord reserves the right to change the user or trade-mix of any part of the Building for any other purposes (including
    but not limited to restaurant and/or retail purposes), renovate or refurbish the shopping arcade (if any) or office area (if
    any) or any part or any area of the Building, to change, alter, amend, vary, add to, re-construct, re-designate, re-partition
    or re-locate the layout of the shopping arcade (if any) or office area (if any) or any part or any area of the Building including
    but not limited to the external walls, advertising space(s), entrance, lobbies, staircases, landings, passages, corridors,
    toilets, lifts and escalators and/or to erect, affix, install, remove, maintain, renew or paint on or to such parts of the
    exterior of the Building and/or the Premises (including but not limited to the walls and windows) flags, poles, banners, posters,
    decorations, chimneys, sunshades, sculptures, signs, Stickers, signboards, advertisements (illuminated or otherwise), broadcasting
    device or structures (with Sound system or otherwise), marketing or promotional materials and to carry out Works and inspection
    in connection therewith. The Tenant shall not be entitled to object to the change or any works as aforesaid and shall have
    no right of action or claim for compensation whatsoever in connection therewith.
	 	 
	18.	Unless
    the context otherwise requires, words herein importing a gender shall include all other genders and words he rein in the singular
    shall include the plural and vice versa.

 

    	 	10	 

     

    

 

LD-AG-001-NL

 

	19.	(i)	Any
    notice required to be served hereunder shall be sufficiently served on the Tenant if delivered to it by post or facsimile
    or email or left addressed to it at the Premises or at its last known address in Hong Kong Special Administrative Region and
    shall be sufficiently served on the Landlord if sent to it by post or delivered to it at the address given here in or any
    other address which the Landlord may notify to the Tenant from time to time. A notice sent by post shall be deemed to have
    been given one (1) business day after the date of posting.

 

	 	(ii)	The
    Tenant agrees and confirms that the email address provided herein is for the purpose of receiving notices served under this
    offer and/or the Subsequent Tenancy Agreement by email.

 

		The
    Tenant understands and acknowledges that (i) the Landlord may, but is not obliged to and without limiting the kind of notices
    sent by the Landlord to the Tenant through email,Send notices or advices for payment of any rent, other charges and/or additional
    outgoings with interest thereon (if any) payable under this agreement or for other related purposes to the Tenant through
    the email address provided above or to the Landlord in writing from time to time; and (ii) irrespective of whether any such
    notice or advice for payment has been sent to the Tenant by the Landlord or not, payments shall be in arrears if not made
    on the date and in manner as provided in this offer and/or the subsequent Tenancy Agreement and the Landlord is not in any
    way liable to the Tenant or any other persons for any delay or failure in giving the aforesaid notice or advice.

 

	20.	The
    Tenant shall not employ any person or firm to provide security service to the Premises except person or firm approved by the
    Landlord or the Building Manager. Such security Service shall be obtained at the sole expense of the Tenant.

 

	21.	A
    written notice served by the Landlord on the Tenant or left at the Premises, to the effect that the Landlord thereby exercises
    the power of re-entry, shall be a full and sufficient exercise of such power without actual entry on the part of the Landlord.

 

	22.	In
    addition to rent, any amounts falling due under this Offer may be recovered by distress as rent in arrears. For the purposes
    of Part III of the Landlord and Tenant (Consolidation) Ordinance (Cap. 7) and of this agreement, the rent payable in respect
    of the Premises and other amounts recoverable by distress as rent in arrears shall be and be deemed to be in arrears (whether
    formally demand or not) if not paid in advance at the times and in the manner hereinbefore provided for payment thereof. All
    costs and expenses of and incidental to distraint shall be paid by the Tenant on a full indemnity basis and shall be recoverable
    from it as a debt.

 

	23.	If
    the Tenant has failed to observe or perform any covenants, agreements, Stipulations, terms or conditions of this Agreement,
    the Landlord and/or the Building Manager has the right to withhold the service or facility provided by the Landlord and/or
    the Building Manager under this Agreement without incurring any liability to the Tenant for any loss or damage suffered by
    the Tenant as a result thereof. The aforesaid right shall be exercisable by the Landlord and Building Manager notwithstanding
    anything to the contrary contained in this Agreement and without prejudice to any other rights and remedies that the Landlord
    and/or the Building Manager may have. 

 

    	 	11	 

     

    

 

LD-AG-001-NL

 

	24.	The
                                         Tenant shall not affix, erect, attach, exhibit, display or permit or suffer so to be
                                         done upon any part within or on the exterior or at the show windows (if any) of the Premises
                                         or to or through any windows thereof any writing, sign, decoration, signboard or other
                                         device (whether illuminated or not) which may be visible from outside the Premises except
                                         with prior approval of the Landlord or the Building Manager. The Tenant shall remove
                                         any of the aforesaid displays notwithstanding that prior approval has been obtained from
                                         the Landlord and/or the Building Manager if, at any time during the Term, it is in the
                                         opinion of the Landlord that the aforesaid displays or any of them does not appear in
                                         a manner (whether of design, quality, type or otherwise) keeping with first class commercial
                                         premises then the Tenant shall, at his sole cost, replace the same with such appropriate
                                         displays approved by and to the satisfaction of the Landlord and/or the Building Manager.

  

	25.	(i)	The
    Tenant shall not install, affix, put up or display or permit or suffer to be installed, affixed, put up or displayed at, on
    or upon the Premises and/or any part of the Building, any artwork, exhibits, display, articles or materials ( "the Displays"
    ) any content of which has not been first approved by the Landlord or is or is considered in its absolute discretion by the
    Landlord (whose decision is final and conclusive) to be:
	 	 	 
	 	 	(a)
                                         illegal, immoral or prohibited by the Government of Hong Kong Special Administrative
                                         Region;

 

(b)
in breach of any applicable legislation or regulations from time to time in force in Hong Kong Special Administrative Region;

 

(c)
obscene, indecent, objectionable, defamatory, discriminatory or offensive to the general public or any person(s);

 

(d)
promoting or advertising the business of any direct competitors of the Landlord or Sing Group;

 

(e)
adversely affecting the image of reputation or prestige of the Landlord or Sino Group or the Building; or

 

(f)
otherwise inappropriate or considered by the Landlord to be inappropriate to be displayed at the Premi ses and for the Building.

 

	 	(ii)	The
    Tenant shall be wholly responsible for the contents of the Displays and shall indemnify the Landiord against any claim, liability,
    cost, expense, loss or damage arising from or in connection with the contents of the Displays or any part of them or any breach
    of the Tenant of this clause.

 

	 	(iii)	If
    the Landlord is of the opinion that the contents of the Displays or any part thereof is of any kind referred to in clause
    25(i) above, the Tenant must remove or demolish the same immediately at its sole cost. For the avoidance of doubt, the Landlord
    is entitled (but not obliged) to remove or demolish the Displays or such part thereof at any time without incurring any liability
    to the Tenant. All expenses for the removal and demolition shall be borne and paid by the Tenant and the Landlord shall not
    be liable to the Tenant or any other party whomsoever for any claim, loss or damage whatsoever caused to the Displays arising
    from such removal and demolition.

 

    	 	12	 

     

    

 

SCHEDULE
II

 

Special
Conditions

 

1.
Management Fee and Air-Conditioning Charge

 

(i)If
the normal air-conditioning supply hours are specified hereinbefore, air-conditioning charge shall be payable by the Tenant. The
management fee and air-conditioning charge (if any) shall be subject to revision from time to time during the Term as determined
by the Building Manager and is payable monthly in advance on the first day of each calendar month. The normal air-conditioning
Supply hours are subject to revision from time to time by the Landlord or the Building Manager at its sole discretion by giving
to the Tenant not less than one month's prior notice in writing in that behalf.

 

(ii)If
the management fee and air-conditioning charge (if any) shall be in arrears for more than fifteen (15) days, without prejudice
to any right of action or any remedy of the Landlord for the recovery thereof, from the Tenant, the Landlord shall be thereafter
at its discretion entitled to Suspend or discontinue the provision of any management or air-conditioning supply services including
any cleaning service to the Premises if it is included in the management service until such default or breach has been rectified
and the Landlord shall not incur any liability to the Tenant for any loss, or damage suffered by the Tenant as a result thereof.

 

2.
Cleaning Service Charges

 

(i)
In the event that the Tes2nt is liable to pay monthly cleaning service charges hereunder,

 

(a)
the Tenant has agreed to engage Best Result Environmental Services Limited ("Best Result"), a cleaning contractor approved
by the Landlord, to provide internal cleaning services ("cleaning Services") to the Premises throughout the Term at
the Tenant's cost which is subject to adjustment to be made by Best Result and is payable is advaňce and in the same manner
as the management fee and air-conditioning charge (if any) are payable under this agreement. The scope of the cleaning services
will be available upon request be ng made to Best Result either directly or through the Landlord. The cleaning service charges
will be collected by the Landlord as agent for and on behalf of Best Result, in the same way and manner as the management fee
and air-conditioning charge (if any) are collected.

 

(b)
if the cleaning service charges shall be in arrears for more than fifteen (15) days, the Landlord shall notify Best Result who
may thereafter at its discretion suspend or discontinue the provision of cleaning services to the Premises until such default
or breach has been rectified. Without prejudice to any right to recover the outstanding sum(s) from the Tenant by the Landlord
or Best Result, the Landlord shall not incur any liability to the Tenant for any loss or damage suffered by the Tenant as a result
thereof.

 

(ii)
The Tenant shall not employ any person or firm (other than its own staff) to carry out internal cleaning of the Premises save
with prior approval of the Landlord or the Building Manager and the Tenant shall pay all charges there for.

 

3.
Legal Costs

 

The
Landlord's solicitors' legal costs (calculated at full scale), disbursements and other legal expenses in connection with the preparation
and signing of the Tenancy Agreement and its counterpart shall be borne by the Landlord and the Tenant in equal shares. Should
the Tenant engage a separate firm of Solicitors to act on its behalf then each party shall pay its own solicitors' costs.

 

4.
Sales and Redevelopment

 

(i)
Notwithstanding any provision to the contrary contained in this offer and/or the subsequent Tenancy Agreement, if at any time
during the term the Landlord shall decide to redevelop, renovate, refurbish or redesign the Building or any part thereof (which
decision shall be sufficiently evidenced by a certified true copy of the relevant Board Resolution of the Landlord) or shall sell,
assign or enter into any agreement for the sale or assignment of the whole or any part of the Building which includes the Premises,
the Landlord shall be entitled to give not less than six (6) calendar months' notice in writing to the Tenant to determine this
offer and/or the subsequent Tenancy Agreement and at the expiry of such notice everything herein contained shall cease and be
void and the Tenant shall immediately deliver up vacant possession of the Premises to the Landlord.

 

    

     

    

 

(ii)
The Tenant shall not be entitled to claim against the Landlord for any compensation for the loss of goodwill or business, damages
or any costs and expenses incurred by the Tenant whatsoever but any such termination shall be without prejudice to the rights
and remedies of either party against the other in respect of any antecedent claim or breach of any terms or stipulations contained
in this agreement. 

 

(iii)
The expression "Landlord" in this clause shall include the Landlord's successors in title and this clause shall enure
for the benefit of the Landlord's successors in title.

 

(iv)
It is also agreed and declared that notwithstanding any other provision(s) in this agreement and notwithstanding any law to the
contrary, the Tenant's option right(s) (if any) shall be extinguished and determined upon the service of the said notice of termination,
irrespective of whether such rights shall have been exercised by the Tenant or not. 

 

(v)
The Tenant shall not be entitled to any claim against the Landlord for any damages of compensation or any relief against the extinguishment
and determination of its option right (S).

 

5.
Vacant Possession

 

(i)
The Tenant is fully aware of the fact that the Premises is at present let to an existing tenant,

 

(ii)
The Tenant agrees that if the landlord shall for whatever reason fail to obtain vacant possession of the Premises on or before
16 October 2015, the date of commencement of the said term and for the de very of vacant possess son of the Premises by the Landlord
to the Tenant shall be postponed.

 

(iii)
In such an event, the Tenant will not be compensated in anyway by the Landlord save that the Tenant's obligations to pay rent
and to perform and observe the other terms and conditions of this Agreement (save and except the payment of deposit) shall not
arise until vacant possession of the Premises is delivered to the Tenant.

 

    

     

    

 

ANNEXURE

 

Landlord’s
Provisions

 

Save the
items enlisted here below, the premises shall be handed over to the Tenant in a ‘bare shell’ condition.

 

1. Landlord
shall install ceiling tiles and ceiling grids at Landlord’ s standard in one-off basis after the lease commencement date.

 

2. Landlord
shall supply and deliver 130 nos. recessed light fixture (material only) at Landlord’ s standard in one-off basis for Tenant’
s own installation

 

3. Landlord
shall supply and deliver 260 nos. fluorescent tube (material only) at Landlord’ s standard in one-off basis for Tenant’
s own installation.

 

4. Landlord
shall install two numbers of single leaf fire rated wooden door at Landlord’ s standard.

 

5. Landlord
shall install a double leaf fire rated glass door at Landlord’ s standard.

 

Upon sonner
determination or expiration of the Lease, Landlord reserver the right to demand Tenant to demolish the premises to Landlord’
s bare shell standard, repair or reinstate wholly or partially of it.frzt_ex1033.htm

EXHIBIT 10.33
 
CONVERTIBLE PROMISSORY NOTE
$500,000
 
FOR VALUE RECEIVED, Freeze Tag, Inc., a Delaware corporation, (the "Borrower") with approximately 233,285,127 shares of common stock issued and outstanding, promises to pay to Accredited Investor, or its assignees (the "Lender") the Principal Sum along with the Interest and any other fees according to the terms herein (this "Note"). This Note shall become effective on July 28, 2015 (the "Effective Date"). 
 
The Principal Sum is Five Hundred Thousand Dollars ($500,000) plus accrued and unpaid interest. The Consideration is Five Hundred Thousand Dollars ($500,000) payable by wire. The Lender shall pay Thirty Thousand Dollars ($65,000)of the Consideration upon execution of this Note (the "Initial Consideration"). The Lender may pay additional Consideration to the Borrower in such amounts as the Lender may choose in its sole discretion (the "Additional Consideration"). The Principal Sum due to the Lender, and as referenced hereinafter, shall be the Initial Consideration plus any Additional Consideration actually paid by the Lender such that the Borrower is only required to repay the amount funded and the Borrower is not required to repay any unfunded portion of this Note, nor shall any interest or other rights or remedies granted herein extend to any unfunded portion of this Note. 
 
	1. 	Maturity Date. The Maturity Date is nine (9) months from the Effective Date of each payment of Consideration (the "Maturity Date") and is the date upon which the Principal Sum of this Note and unpaid interest and fees (the "Note Amount") shall be due and payable.

		
	2. 	Interest. This Note shall bear interest at the rate of Ten Percent (10%) per year.

		
	3. 	Conversion. The Lender has the right, at any time after the Effective Date, at its election, to convert all or part of the Note Amount into shares of fully paid and non-assessable shares of common stock of the Borrower (the "Common Stock"). The conversion price (the "Conversion Price") shall be the lesser of (a) $0.003 per share of Common Stock or (b) Fifty Percent (50%) of the average of the three (3) lowest trade prices on three (3) separate trading days of Common Stock recorded after the original Effective Date of this Note, July 28, 2015, or (c) the lowest effective price per share granted to any person or entity after the Effective Date to acquire Common Stock or adjust, whether by operation of purchase price adjustment, settlement agreements, exchange agreements, reset provision, floating conversion or otherwise, any outstanding warrant, option or other right to acquire Common Stock or outstanding Common Stock equivalents; however, this Section 3(c) shall exclude any lower price per share offered to officers and directors of the Borrower (the "Conversion Price"). The conversion formula shall be as follows: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. A conversion notice (the "Conversion Notice") may be delivered to Borrower by method of Lender's choice (including but not limited to email, facsimile, mail, overnight courier, or personal delivery), and all conversions shall be cashless and not require further payment from the Lender. If no objection is delivered from the Borrower to the Lender, with respect to any variable or calculation reflected in the Conversion Notice within 24 hours of delivery of the Conversion Notice, the Borrower shall have been thereafter deemed to have irrevocably confirmed and irrevocably ratified such notice of conversion and waived any objection thereto. The Borrower shall deliver the shares of Common Stock from any conversion to the Lender within three (3) business days of Conversion Notice delivery. The Lender shall pay the transfer agent fees for the issuance of share certificates. If the Borrower is participating in the Depository Trust Company ("DTC") Fast Automated Securities Transfer ("FAST") program, then upon request of the Lender and provided that the shares to be issued are eligible for transfer under Rule 144 of the Securities Act of 1933, as amended (the "Securities Act"), or are effectively registered under the Securities Act, the Borrower shall cause its transfer agent to electronically issue the Common Stock issuable upon conversion to the Lender through the DTC Direct Registration System ("DRS"). If the Borrower is not participating in the DTC FAST program, then after receiving the Initial Consideration, the Borrower agrees to begin a good faith effort to apply and cause the approval for participation in the DTC FAST program. The Conversion Price shall be subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower's securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events.

 
	 
	1

	

	 

  
	4. 	Conversion Delays. If Borrower fails to deliver shares in accordance with the timeframe stated in Section 3, the Lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to the Borrower (under the Lender's and the Borrower's expectations that any returned conversion amounts shall tack back to the original date of this Note). In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $2,000 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until share delivery is made; and such penalty shall be added to the Principal Sum of this Note (under the Lender's and the Borrower's expectations that any penalty amounts shall tack back to the original date of this Note consistent with applicable securities laws). If the Borrower is unable to deliver shares under this provision, due to an insufficient number of authorized and unissued shares available, the Lender agrees not to force the Borrower to issue the shares or trigger an Event of Default, provided that the Borrower takes immediate steps necessary to obtain the appropriate approval from shareholders and/or the board of directors, where applicable, to increase the number of authorized shares to satisfy the Conversion Notice.

		
	5. 	Limitation of Conversions. In no event shall the Lender be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the number of shares of Common Stock beneficially owned by the Lender and its affiliates (other than shares of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of this Note or the unexercised or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Lender and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso, provided, further, however, that the limitations on conversion may be waived by the Lender upon, at the election of the Lender, not less than 61 days prior notice to the Borrower, and the provisions of the conversion limitation shall continue to apply until such 61st day (or such later date, as determined by the Lender, as may be specified in such notice of waiver).

		
	6. 	Payment. The Borrower may not prepay this Note prior to the Maturity Date. Within six (6) days prior to the Maturity Date, Borrower shall provide Lender with a written notice to pay the Note Amount on the Maturity Date. Within three (3) days of receiving written notice, the Lender shall elect to either (a) accept payment of the Note Amount or (b) convert any part of the Note Amount into shares of Common Stock and the Borrower shall pay the remaining balance of the Note Amount by the Maturity Date, or (c) modify the Maturity Date to be up to eighteen (18) months from the Effective Date.

 
	 
	2

	

	 

  
	7. 	Piggyback Registration Rights. The Borrower shall include on the next registration statement the Borrower files with the SEC (or on the subsequent registration statement if such registration statement is withdrawn) excluding S-8 registration statements for employee stock grant and option plans, all shares of Common Stock issuable upon conversion of this Note unless such shares of Common Stock are eligible for resale under Rule 144. Failure to do so shall result in liquidated damages of Twenty Five Percent (25%) of the outstanding principal balance of this Note being immediately due and payable to the Lender at its election in the form of cash payment or addition to the balance of this Note.

		
	8. 	Lender's Representations. The Lender hereby represents and warrants to the Borrower that (i) it is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act, (ii) it understands that this Note and the shares of Common Stock underlying this Note (collectively, the "Securities") have not been registered under the Securities Act by reason of a claimed exemption under the provisions of the Securities Act that depends, in part, upon the Lender's investment intention; in this connection, the Lender hereby represents that it is purchasing the Securities for the Lender's own account for investment and not with a view toward the resale or distribution to others; provided, that Lender may syndicate participations in the Securities among a limited number of participants who all meet the suitability standards of an "accredited investor" as defined in Rule 501(a) of Regulation D of the Securities Act and will share among themselves and the Lender an economic interest in the Securities on a pari passu, pass through basis with investment intent, such that the availability of the private placement exemption for the issuance of the Note under Rule 506 of Regulation D of the Securities Act is preserved, (iii) the Lender, if an entity, further represents that it was not formed for the purpose of purchasing the Securities, (iv) the Lender acknowledges that the issuance of this Note has not been reviewed by the United States Securities and Exchange Commission (the "SEC") nor any state regulatory authority since the issuance of this Note is intended to be exempt from the registration requirements of Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, and (v) the Lender acknowledges receipt and careful review of this Note, the Borrower's filings with the SEC (including without limitation, any risk factors included in the Borrower's most recent Annual Report on Form 10-K), and any documents which may have been made available upon request as reflected therein, and hereby represents that it has been furnished by the Borrower with all information regarding the Borrower, the terms and conditions of the purchase and any additional information that the Lender has requested or desired to know, and has been afforded the opportunity to ask questions of and receive answers from duly authorized officers or other representatives of the Borrower concerning the Borrower and the terms and conditions of the purchase.

		
	9. 	Borrower's Representations. The Borrower hereby represents and warrants to the Lender that (i) the Borrower is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with full power and authority to own, lease, license and use its properties and assets and to carry out the business in which it proposes to engage, and (ii) the Borrower has the requisite corporate power and authority to execute, deliver and perform its obligations under this Note and to issue and sell this Note, and (iii) all necessary proceedings of the Borrower have been duly taken to authorize the execution, delivery, and performance of this Note, and when this Note is executed and delivered by the Borrower, it will constitute the legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with their terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies.

 
	 
	3

	

	 

  
	10. 	Default. The following are events of default under this Note: (i) the Borrower shall fail to pay any principal under this Note when due and payable (or payable by conversion) thereunder; or (ii) the Borrower shall fail to pay any interest or any other amount under this Note when due and payable (or payable by conversion) thereunder; or (iii) a receiver, trustee or other similar official shall be appointed over the Borrower or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or shall not be dismissed or discharged within sixty (60) days; or (iv) the Borrower shall become insolvent or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any; or (v) the Borrower shall make a general assignment for the benefit of creditors; or (vi) the Borrower shall file a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign); or (vii) an involuntary proceeding shall be commenced or filed against the Borrower; or (viii) the Borrower shall lose its status as "DTC Eligible" or the Borrower's shareholders shall lose the ability to deposit (either electronically or by physical certificates, or otherwise) shares into the DTC System; or (ix) the Borrower shall become delinquent in its filing requirements as a fully-reporting issuer registered with the SEC; or (x) the Borrower shall commit a material breach of any of its covenants, representations or warranties in this Note.

		
	11. 	Remedies. In the event of any default, the funded portion of the Note Amount shall become immediately due and payable at the Mandatory Default Amount. The Mandatory Default Amount shall be 150% of the funded portion of the Note Amount. Commencing five (5) days after the occurrence of any event of default that results in the eventual acceleration of this Note, the interest rate on the Mandatory Default Amount shall accrue at a default interest rate equal to the lesser of ten percent (10%) per annum or the maximum rate permitted under applicable law. In connection with such acceleration described herein, the Lender need not provide, and the Borrower hereby waives, any presentment, demand, protest or other notice of any kind, and the Lender may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. While the Mandatory Default Amount is outstanding and default interest is accruing, the Lender shall have all rights as a holder of this Note until such time as the Lender receives full payment pursuant to this paragraph, or has converted all the remaining Mandatory Default Amount and any other outstanding fees and interest into Common Stock under the terms of this Note. In the event of any default and at the request of the Lender, the Borrower shall file a registration statement with the SEC to register all shares of Common Stock issuable upon conversion of this Note that are otherwise eligible to have their restrictive transfer legend removed under Rule 144 of the Securities Act. Nothing herein shall limit Lender's right to pursue any other remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Borrower's failure to timely deliver certificates representing shares of Common Stock upon conversion of this Note as required pursuant to the terms hereof.

		
	12. 	No Shorting. Lender agrees that so long as this Note from Borrower to Lender remains outstanding, the Lender shall not, Lender's affiliates shall not, and Lender will not direct any third parties to, enter into or effect "short sales" of the Common Stock or hedging transaction which establishes a short position with respect to the Common Stock of the Borrower. The Borrower acknowledges and agrees that upon delivery of a Conversion Notice by the Lender, the Lender immediately owns the shares of Common Stock described in the Conversion Notice and any sale of those shares issuable under such Conversion Notice would not be considered short sales.

 
	 
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	13.	Assignability. The Borrower may not assign this Note. This Note shall be binding upon the Borrower and its successors and shall inure to the benefit of the Lender and its successors and assigns and may be assigned by the Lender, in whole or in part, to anyone of its choosing without Borrower's approval subject to applicable securities laws. Lender covenants not to engage in any unregistered public distribution of the Note when making any assignments.

		
	14. 	Governing Law. This Note shall be governed by, and construed and enforced in accordance with, the laws of the State of STATE HERE, without regard to the conflict of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Agreement shall be brought only in the state courts of STATE HERE or in the federal courts located in COUNTY HERE, in the State of STATE HERE. Both parties and the individuals signing this Agreement agree to submit to the jurisdiction of such courts.

		
	15. 	Delivery of Process by the Lender to the Borrower. In the event of any action or proceeding by the Lender against the Borrower, and only by the Lender against the Borrower, service of copies of summons and/or complaint and/or any other process which may be served in any such action or proceeding may be made by the Lender via U.S. Mail, overnight delivery service such as FedEx or UPS, email, fax, or process server, or by mailing or otherwise delivering a copy of such process to the Borrower at its last known attorney as set forth in its most recent SEC filing.

		
	16. 	Attorney Fees. In the event any attorney is employed by either party to this Note with regard to any legal or equitable action, arbitration or other proceeding brought by such party for the enforcement of this Note or because of an alleged dispute, breach, default or misrepresentation in connection with any of the provisions of this Note, the prevailing party in such proceeding shall be entitled to recover from the other party reasonable attorneys' fees and other costs and expenses incurred, including but not limited to post judgment costs, in addition to any other relief to which the prevailing party may be entitled.

		
	17. 	Transfer Agent Instructions. In the event that an opinion of counsel, such as but not limited to a Rule 144 opinion, is needed for any matter related to this Note or the Common Stock the Lender has the right to have any such opinion provided by its counsel. If the Lender chooses to have its counsel provide such opinion, then the Lender shall provide the Borrower with written notice. Within three (3) business days of receiving written notice, the Borrower shall instruct its transfer agent to rely upon valid legal opinions from the Lender's counsel. A penalty of $2,000 per day shall be assessed for each day after the third business day (inclusive of the day of request) until the reliance instruction is delivered to the transfer agent. If the Lender requests that the Borrower's counsel issue an opinion, then the Borrower shall cause the issuance of the requested opinion within three (3) business days. A penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of request) until the requested opinion is delivered. The Lender and the Borrower agree that all penalty amounts shall be added to the Principal Sum of this Note and shall tack back to the Effective Date of this Note, with respect to the holding period under Rule 144, so long as such treatment is not inconsistent with Rule 144's applicable tacking provisions. The Borrower warrants that it will not direct its transfer agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically or in certificated form) any certificate for the Securities to be issued to the Lender and it will not fail to remove (or direct its transfer agent not to remove or impair, delay, and/or hinder its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate for the Securities when required by this Note. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Lender by vitiating the intent and purpose of the transactions contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for a breach of its obligations under this Note may be inadequate and agrees, in the event of a breach or threatened breach by the Borrower of these provisions, that the Lender shall be entitled, in addition to all other available remedies, to an injunction restraining any breach and requiring immediate transfer, without the necessity of showing economic loss and without any bond or other security being required.

 
	 
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	18. 	Reservation of Shares. At all times during which this Note is convertible, the Borrower shall reserve from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common Stock upon the full conversion of this Note.

		
	19. 	Disclosure of Material Non-Public Information. The Borrower agrees not to disclose any ma-terial non-public information to the Lender after the Effective Date. If the Borrower inadvertently discloses any material non-public information to the Lender, then the Borrower shall promptly publicly disclose that information by filing a Form 8-K with the SEC and by any other means necessary to make that information known to the public.

		
	20. 	Public Disclosure. The Lender and the Borrower agree not to issue any public statement with respect to the Lender's investment or proposed investment in the Borrower or the terms of any agreement or covenant without the other party's prior written consent, except such disclosures as may be required under applicable law or under any applicable order, rule or regulation. The Borrower agrees to reference Lender only as "an accredited investor" and attach only a form copy this Note in any of the Borrower's filings with the Securities and Exchange Commission or any other public filings, except such full disclosures as may be required under applicable law or under any applicable order, rule or regulation.

		
	21. 	Notices. Any notice required or permitted hereunder (including Conversion Notices) must be in writing and either personally served, sent by facsimile or email transmission, or sent by overnight courier. Notices shall be deemed effectively delivered at the time of transmission if by facsimile or email, and if by overnight courier the business day after such notice is deposited with the courier service for delivery.

 
	 
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IN WITNESS WHEREOF, the authorized agents of the Borrower and the Lender have caused this Note to be duly executed as of the Effective Date.
 
	 
	Freeze Tag, Inc.
(the "Borrower")
	 

	 	 	 	 
		By:		 

	 
	 
	Craig Holland
	 

	 
	 
	Chief Executive Officer
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	Accredited Investor
(the "Lender")
	 

	 
	 
	 
	 

	 
	By:
	 
	 

	 
	 
	Accredited Investor Name
	 

	 
	 
	Accredited Investor Title
	 

 
   
7

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