Document:

DISTRIBUTION
AGREEMENT

 

This
DISTRIBUTION AGREEMENT (the “Agreement”) is made as of the Effective Date by and between E-motion
apparel, INC. (“Grantor”), and BITZIO, INC. (“Grantee”).

 

WHEREAS,
Grantor manufactures, markets and sells a line of womens apparel (“Products”) to third party clients in including
wholesale, retail and e-commerce channels (the “Business”);

 

WHEREAS,
Grantor desires to continue its direct sales activities in the Business and to continue its manufacturing activities on a wholesale
basis, but wishes Grantee to become the exclusive sales channel; and,

 

WHEREAS,
Grantee desires to obtain, and Grantor is willing to grant to Grantee, exclusive distribution rights for the Products on the terms
hereinafter set forth.

 

NOW,
THEREFORE, for and in consideration of the foregoing as well as the faithful performance by each party hereto of the obligations
and covenants herein contained on their part to be performed, the parties hereto agree as follows:

 

Section
1. Definitions

 

In
addition to other terms that may be defined elsewhere in the text of this Agreement, the following terms as used in this Agreement
shall have the meanings set forth below:

 

1.1.
“Copyrights” shall mean works of authorship, expressions, designs and design registrations, whether or not
copyrightable, including copyrights, author, performer, moral and neighboring rights, and all registrations, applications for
registration, and renewals for any of the foregoing in each case relating to Products.

 

1.2.
“Effective Date” means NOVEMBER 18, 2013.

 

1.3.
“Party” or “Parties” shall refer to one or more of the parties hereto.

 

1.4.
“Product” or “Products” shall mean Grantor’s line of women’s apparel and accessories.

 

1.5.
“Support Services” shall mean design, administrative, and other related support services provided by Grantor
to or on behalf of Grantee, including, at the request of Grantee, in furtherance of Grantee’s provision of Services to third
party clients.

 

1.6.
“Territory” shall mean the maximum territory possible worldwide and shall, regardless of context, be construed
as broadly as possible.

 

1.7.
“Trademarks” shall mean trademarks, service marks, trade names, brand names, logos, trade dress, design rights
and other similar designations of source, sponsorship, association or origin, together with the goodwill connected with the use
of and symbolized by, and all registrations, applications and renewals for, any of the foregoing in each case relating to the
Products.

 

Section
2. Rights and Obligations

 

2.1.
Relationship of Parties. Nothing in this Agreement shall be construed to appoint either Party the authority to act for
or to bind the other in any way, to alter any of the terms or conditions of any standard forms or other agreements of the other
with any third parties, to make representations or warranties or to execute agreements or accept orders on behalf of the other,
or to represent that the other Party is in any way responsible for the representing Party’s acts or omissions. This Agreement
shall not be construed as a joint venture or partnership, nor shall this Agreement be construed as a commitment by either party
to enter into a partnership.

 

2.2.
General Appointment. Except as provided in Section 3 hereof, Grantor hereby grants to Grantee, and Grantee hereby accepts
from Grantor, the EXCLUSIVE right to buy, sell and distribute Products within the Territory (which grant shall be referred
to herein as the “Distribution Rights”).

 

2.3.
Wholesale Pricing. Grantor hereby agrees to manufacture and sell the Products exclusively to Grantee (and/or its designee)
on the basis of Grantor’s wholesale pricing set forth in Exhibit A hereto (“Pricing”) and
standard terms of sale set forth in Exhibit B hereto (“Standard Terms of Sale”), which pricing
Grantor hereby agrees is (and shall remain) Grantor’s most favored pricing and terms such that no third party for any Grantor
product or service that is not a Product hereunder shall receive pricing or terms of sale more favorable to the third party as
compared to the Pricing afforded to Grantee hereunder.

 

    	1

    	 

    

 

2.4.
Sales and Marketing. All sales and marketing activity relating to sales of Products shall be at Grantee’s sole discretion
in accordance with the terms hereof, and Grantor hereby grants Grantee the non-exclusive right and license to use all Trademarks
and Copyrights (including Grantor’s marketing collateral, brand imagery, brand name and all associated intellectual property)
at Grantee’s discretion in connection with its sales of the Products for so long as this Agreement remains in effect; provided,
however, that Grantee shall at all relevant times during the Term hereof use commercially reasonable methods of sales and marketing,
which methods shall not create a negative impact on the credibility or reputation of Grantor.

 

2.5.
Working Capital Loan. Grantee shall provide Grantor with a loan for working capital and general corporate purposes in an
amount equal to $75,000 as follows: $50,000 on the Effective Date and $25,000 on or before December 15, 2013 (“Demand
Note”). The Demand Note shall be secured by a pledge of stock of certain individuals as set forth in the Pledge Agreement
attached hereto as Exhibit C. The Demand Note shall have a term of five years and shall be repayable at any time
by the Grantor. The Demand Note shall bear no interest.

 

2.6.
Reasonable Efforts Cooperation. Grantor and Grantee shall use their respective reasonable efforts to cooperate and communicate
with respect to the performance of this Agreement and all transactions contemplated hereby, including, without limitation, all
sales and marketing activities involving the Products. Grantor and Grantee acknowledge that the rights and obligations granted
and arising under this Agreement are of a highly sensitive nature and that Grantor’s and Grantee’s respective reasonable
efforts will be critical to the commercial success of the activities outlined herein. Accordingly, Grantor and Grantee hereby
agree to devote, at all relevant times during the Term hereof, their respective reasonable efforts to the effective implementation
of the activities outlined herein. Notwithstanding the foregoing, Grantor and Grantee, each as applicable in accordance with the
terms hereof, shall use their respective reasonable efforts to manufacture, sell and service the Products in an integrated and
coordinated manner; including, without limitation, with respect to procedures for quoting, pricing, manufacturing, shipping, servicing,
invoicing, collections, training and accounting.

 

2.7.
Contacts and Contracts.

 

2.7.1.
Executory Contracts. In view of the exclusive nature of the Distribution Rights, and for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, to the extent that (by operation of law or otherwise) Grantor owns
(whether now known or hereinafter discovered) any right, title or interest in, to or under (a) any contract for sale of Products
which has not been fully performed as of the Effective Date (each, an “Executory Contract”), Grantor hereby
conveys, releases and otherwise assigns to Grantee its entire right, title and interest in, to and under any and all Executory
Contracts (including all rights to receive payment), which shall be held and enjoyed by Grantee for its own use and enjoyment,
and for the use and enjoyment of its successors, assigns and legal representatives, to the end of the terms of any such Executory
Contracts, as fully and entirely as would have been held and enjoyed by Grantor as if this assignment and sale had not been made.
Exhibit D, which shall be completed and annexed hereto on or before NOVEMBER 30, 2013, and which shall thereupon
be incorporated herein by reference, contains a schedule listing all Executory Contracts and the payment and delivery status of
each.

 

2.7.2.
Client Lists and Information. On or before NOVEMBER 30, 2013, Grantor shall provide Grantee with a list of all of
Grantor’s clients for Products from inception of Grantor’s provision of Products (each, a “Prior Client”),
as well as all salient information pertaining to each Prior Client, including, without limitation, purchasing histories and contact
information. Further, upon the request of Grantee, Grantor shall provide Grantee with copies of any historical contracts or other
documentation pertaining to any prior purchase(s) of Products by any or all Prior Client(s).

 

2.7.3.
New Clients and Contracts. Grantor hereby agrees to refer any third party requests or other communications involving the
purchase and sale of new Products, including any requests from any Prior Clients, to Grantee (or Grantee’s designee) for
administration and management of the relevant client relationships in accordance with the terms hereof.

 

2.8.
Support Services. Unless agreed to by the Parties separately in writing, Grantor shall provide administrative and design
Support Services to or on behalf of Grantee, including in furtherance of Grantee’s provision of Services to third party
clients, and shall do so at Grantee’s request for a consulting fee of $5,000 per calendar month, beginning on the Effective
Date.

 

    	2

    	 

    

 

2.8.1.
Administrative Support Services.

 

2.8.1.1.
Business Transition; Order Execution. Grantor hereby agrees to provide Grantee with administrative support services commencing
on the Effective Date and continuing until DECEMBER 31, 2014, including ordinary course order execution, invoicing and
accounting matters (such as accounts receivable and payable reporting).

 

2.8.1.2.
Business Transition; Cash Collections. In the event that Grantor receives any payment for Products, including under any
Executory Contract or otherwise from any Prior Client, or from any third party from and after the Effective Date hereof (each,
a “Transition Payment”), Grantor shall be permitted and hereby agrees to deposit any such Transition Payments
in its bank account; provided, however, that, (a) on or before the fifteenth (15th) day of the month after Grantor
receives any such Transition Payment(s), Grantor hereby agrees that it shall pay Grantee a cash amount equal to the gross sum
of all Transition Payments received by Grantor in the preceding calendar month (each, a “Monthly Transition Payment”),
and (b), that, within no more than thirty (30) days of the date that Grantee receives each Monthly Transition Payment, Grantee
shall pay Grantor a single amount based on the applicable Pricing and Executory Contracts, and on pro rated basis after taking
into account any partial payments made to Grantor prior to the Effective Date hereof (each, a “Wholesale Transition Payment”).

 

2.8.1.3.
Business Transition; Commission. Grantee shall pay Grantor a commission equal to FIVE PERCENT (5% of gross sales generated
by Grantee upon sale of Products hereunder in the event that any such sales were completed by Grantee as a result of the efforts
of Grantor; provided, however, that any sales of Products under any Executory Contract or otherwise to any Prior Client which
occur after the Effective Date hereof shall be excluded such that no commission shall be due to Grantor for any such sales.

 

2.9.
Warranty. In addition to the limitations in the Standard Terms of Sale, neither Grantor nor Grantee shall be liable for
any indirect, special, punitive, incidental or consequential losses, damages or expenses of any kind arising directly or indirectly
from the sale, handling or use of Products, whether any such claim is based upon breach of contract, breach of warranty, negligence,
strict liability in tort or any other legal theory. Without limiting the generality of the foregoing, Grantor and Grantee will
not be liable for damages relating to (a) lost profits, business, revenues or good will; (b) any expense or loss incurred for
labor, supplies, substitute products or other rental; (c) any other type of damage to property or economic loss; or (d) failure
to provide information materials and/or warnings provided with the products. All the limitations and disclaimers contained in
this Agreement, including without limitation those in this section, will apply to claims by Grantor or Grantee, whichever may
apply, their dealers, distributors, sales representatives, end users, original purchasers, or any other third party, whether associated
directly or indirectly against the party manufacturing the product.

 

2.10.
Mutual Indemnification. Each Party shall indemnify, defend and hold harmless the other Party, and its affiliated or related
companies, and all of their respective present or future officers, directors, shareholders, employees and agents from and against
any and all losses, damages, liabilities, penalties, fines, forfeitures, demands, claims, causes of action, suits, costs and expenses
(including, but not limited to, reasonable costs of defense, settlement, and reasonable attorney’s fees), which may be asserted
against any or all of them by any person or governmental agency, or which any or all of them may hereafter suffer, incur, be responsible
for or pay out, as a result of or in connection with bodily injuries (including, but not limited to, present and future death,
sickness, disease and emotional or mental distress) to any person (including the indemnified Party’s employees), damage
(including, but not limited to, loss of use) to any property (public or private), or any violation or alleged violation of any
statutes, ordinances, orders, rules or regulations of any governmental entity or agency, to the extent caused or arising out of
(a) breaches of this Agreement by the indemnifying Party, (b) the failure of any indemnifying Party representations and warranties
to be true, accurate and complete, or (c) the willful or negligent acts or omissions of the indemnifying Party, or its employees
or agents, in connection with the performance of this Agreement.

 

Section
3. Consideration

 

3.1.
License Fee. Grantee shall pay a one-time license fee to Grantor upon the Effective Date in an amount equal to $300,000.00
(“License Fee”) as follows:

 

3.1.1.
Promissory Note. The Grantee shall issue a promissory note to Grantor in an amount equal to 100% of the License Fee (“Promissory
Note”). The Promissory Note shall have a maturity date of June 30, 2016 and be payable in 4 installments of $75,000 on December
31, 2014, June 30, 2015, December 31, 2105 and June 30, 2016. The Promissory Note shall bear no interest and be unsecured.

 

    	3

    	 

    

 

Section
4. Term

 

4.1.
Unless otherwise terminated pursuant to this Agreement (including, without limitation, Section 6 hereof), the term of this Agreement
shall commence on the Effective Date and continue until the 5th anniversary hereof (the “Term”); provided,
however, that after expiration of the Term, this Agreement shall automatically be renewed for successive ONE (1) year terms (each,
an “Extension Term”) so that the remaining term of this Agreement shall continue to be one year at all times
after expiration of the initial Term unless Grantor or Grantee delivers written notice to the other party at least SIXTY (60)
days preceding the expiration of the applicable Term or Extension Term or any one-year extension date of the intention not to
extend the term of this Agreement; provided, however, the provisions of Section 2 hereof, including, without limitation, the Distribution
Rights and other rights granted to Grantee herein, shall survive, on a NON-EXCLUSIVE basis, any such termination for so long as
Grantor retains a beneficial ownership interest in the Preferred Shares or other capital stock of Parent, or has otherwise received
cash consideration upon the redemption of the Preferred Shares hereunder or any sale by Grantor of Parent common shares issued
upon conversion of any Preferred Shares.

 

Section
5. Representations and Warranties

 

5.1.
Affirmative
Covenants.
The Grantee hereby covenants with the Grantor that the Grantee will, for so long as this
agreement remains in full force and effect:

 

5.1.1.
at all
times
maintain
its corporate
existence
and
will
carry
on and
conduct
its
business
in a proper
and efficient
manner;
provided,
however,
that nothing
herein
shall
prevent
the Grantee
from ceasing
to operate any
business or
property
if, in the opinion
of Grantee’s board
of directors, it shall be
advisable
and in the
best
interests
of the
Grantee to do so;

 

5.1.2.
keep
all material
contracts
to which
the
Grantee is
a party
in good
standing
and in
full force
and effect
and
no material
default
or breach
shall
exist
in respect
of any
of them
on the part
of the Grantee
which would
have a
material
adverse
effect
on the
Grantee taken
as a whole;

 

5.1.3.
maintain
insurance covering
(i) the assets of the
Grantee and the
business and
operations
thereof,
and (ii)
the directors
and officers
of the
Grantee in
each case
on a basis
consistent
with insurance
obtained
by reasonably
prudent participants
in a comparable
business
in comparable
circumstances;

 

5.1.4.
file in
a timely
manner
all necessary
tax returns
and notices
and pay
all applicable
taxes of
the
Grantee;

 

5.1.5.
keep proper
books
of accounts
and records
covering
all
of its
business
and affairs
on a current
basis;

 

5.1.6.
use its
best efforts
to file
with all
applicable
securities
regulatory
authorities
and stock
exchanges
all filings
required by
them under
applicable
laws;

 

5.1.7.
file within forty-five (45) days after the close of each of the first three quarters of each fiscal year of the Grantee, un-audited
consolidated financial statements including a consolidated balance sheet of the Grantee and its subsidiaries, if any, as of the
end of such fiscal quarter and related statements of income or operations, stockholders’ equity and cash flows for that
portion of the fiscal year-to-date then ended, prepared in conformity with GAAP, subject to year-end audit adjustments and the
absence of footnotes, applied on a basis consistent with that of the preceding period or containing disclosure of the effect on
financial position or results of operations of any change in the application of GAAP during such period, and certified by the
chief executive officer, chief financial officer or treasurer of the Grantee as accurate, true and complete in all material respects;

 

5.1.8.
deliver no later than one hundred and five days after the end of each fiscal year, audited consolidated financial statements of
the Grantee and its subsidiaries for the preceding fiscal year, including a consolidated balance sheet as of the end of such fiscal
year and related statements of income or operations, stockholders’ equity and cash flows for the fiscal year then ended,
with supporting notes and schedules for the Grantee, prepared in conformity with GAAP, applied on a basis consistent with that
of the preceding year or containing disclosure of the effect on financial position or results of operations of any change in the
application of GAAP;

 

5.1.9.
Upon request from the Grantor, provide periodic reports of the Grantee furnished to shareholders of the Grantee from the date
hereof;

 

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5.1.10.
Maintain full compliance with the Securities Act of 1934 and has filed with the Securities Exchange Commission all required filings;
and,

 

5.1.11.
Use its
best efforts
to comply
with,
satisfy
and fulfill
promptly
all prerequisites,
conditions
and requirements
imposed
by or arising
out of legal,
regulatory
and administrative
requirements applicable
to the Grantee with
respect to the consummation
of the transactions
contemplated
hereby.

 

5.2.
Information Covenants. The
Grantee hereby covenants with the Grantor that it will, for so long as this Agreement remains in full force and effect, give prompt
written notice to the Grantor (but in any event within ten (10) days) promptly upon becoming aware of any of the following:

 

5.2.1.
any amendment
to its articles,
including
by virtue
of the
filing
of articles
of amalgamation,
effecting
a change
in the
Corporation’s
name;

 

5.2.2.
any claim,
litigation
or proceeding
before
any court,
administrative
board or
other
tribunal
for
greater
than
$100,000, which
either
does
or could
have
a material
adverse
effect
on the
Grantee;

 

5.2.3.
any
material
labor
dispute
or work
stoppage;

 

5.2.4.
any
material
breach
or default
of any
environmental
law
applicable
to the
Grantee and,

 

5.2.5.
a planned
qualifying
asset
sale.

 

5.3.
General. Grantor and Grantee hereby represent and warrant that: (a) the Agreement is a legal and valid obligation binding
upon such party and enforceable in accordance with its terms; (b) the execution, delivery and performance of the Agreement by
such party does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which
it is bound; (c) the Agreement does not violate any law or regulation of any court, governmental body or administrative or other
agency having jurisdiction over it; and (d) such party is expressly authorized to enter into the Agreement.

 

5.4.
Ownership. Grantor represents and warrants that Grantor is the owner of the Trademarks and Copyrights and has the right
to grant the licenses granted herein.

 

5.5.
Disclaimers. OTHER THAN AS EXPLICITLY STATED IN THIS AGREEMENT, GRANTOR DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING
ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

 

Section
6. Event of Default.

 

The
Grantee shall be in default upon receipt by the Grantee of notice delivered by the Grantor of the occurrence of any of the following
events (each of which, upon such receipt, being an “Event of Default”). If
the
Grantee at any
time defaults
in fulfilling
any material
obligations
hereunder,
and such
default
is not cured
within
FORTY-FIVE (45) days after Grantor thereof
gives written
notice to Grantee, Grantor shall
have the right
to terminate
this Agreement
by giving
written notice of
termination
to the Grantee:

 

6.1.
if the Grantee materially breaches any covenant or other material term or condition of this Agreement in any material respect
and such breach, if subject to cure, continues for a period of FORTY-FIVE (45) days after written notice to the Grantee from the
Grantor.

 

6.2.
any material representation or warranty given by the Grantee in this Agreement shall prove to be false or misleading as at the
date on which it was made;

 

6.3.
a resolution is passed for the winding-up, dissolution or liquidation of the Grantee;

 

6.4.
a resolution is passed or the Grantee provides notice that it intends to permanently cease carrying on business; and

 

6.5.
the institution by the Grantee of proceedings to be adjudicated a bankrupt or insolvent or the consent by it to the institution
of bankruptcy or insolvency proceedings against it or the filing by it of a petition or consent seeking reorganization or relief
under Applicable Laws relating to bankruptcy, insolvency, reorganization or relief of debtors, or the consent by it to the filing
of any such petition or to the appointment under any such law of a receiver, receiver-manager, liquidator, assignee or trustee
of the Grantee or of all or substantially all of its property.

 

    	5

    	 

    

 

Section
7. Confidentiality

 

7.1.
Use and Non-disclosure. The Receiving Party shall hold all of the Disclosing Party’s Confidential Information in
confidence and use the same degree of care it uses to keep its own similar information confidential, but in no event shall it
use less than a reasonable degree of care. The Receiving Party may disclose such Confidential Information only to those of its
directors, officers, employees, agents or representatives who actually need such material or knowledge in connection with this
Agreement, provided, however, prior to any such disclosure, each party shall inform such persons of the confidential nature of
the Disclosing Party’s Confidential Information and of their obligation to treat such Confidential Information confidential
pursuant to this Agreement, including their obligation to return such Confidential Information pursuant to Section 7.3 below.
Receiving Party represents, warrants, covenants and agrees that it shall not make any use of Disclosing Party’s Confidential
Information other than in connection with, and as contemplated by, this Agreement. The Receiving Party agrees to be responsible
for any breach of the obligations of confidentiality hereunder by its directors, officers, employees, agents or representatives.

 

7.2.
Compelled Disclosure. In the event that the Receiving Party is requested or required (by oral questions, interrogatories,
requests for information or documents, subpoena, civil investigative demand or similar process) to disclose any of the Disclosing
Party’s Confidential Information, it is agreed that the Receiving Party will provide Disclosing Party with prompt notice
of such request(s) so that the Disclosing Party may seek an appropriate protective order or other appropriate remedy and/or waive
compliance with the confidentiality provisions of this Agreement. In the event that such protective order or other remedy is not
obtained, or the Disclosing Party grants a waiver hereunder, the Receiving Party may furnish that portion (and only that portion)
of the Disclosing Party’s Confidential Information which the Receiving Party is legally compelled to disclose and will exercise
reasonable commercial efforts to obtain reliable assurance that confidential treatment will be accorded any Confidential Information
so furnished.

 

7.3.
Return of Confidential Information. Promptly following the earlier of (i) the termination of this Agreement and (ii) the
written request of the Disclosing Party, the Receiving Party will deliver to the Disclosing Party all documents or other materials
constituting or otherwise containing the Disclosing Party’s Confidential Information, together with all copies thereof,
including computer disks or other data storage media in the possession of Receiving Party.

 

Section
8. Miscellaneous

 

8.1.
Modifications to Agreement. This Agreement may be modified only in writing that specifically refers to this Agreement and
which is signed by an authorized representative of each party.

 

8.2.
Notices. Unless otherwise set forth in this Agreement, any notice required or permitted to be given by any party herein
to another party shall be sent by facsimile or mailed by a recognized courier service such as Federal Express and addressed as
follows or addressed to the other party at such other address as such party shall hereafter furnish to the other parties in writing.

 

8.3.
Law Governing the Agreement; Venue. This Agreement shall be governed in all respects (including matters of construction,
validity, and performance) by the internal laws of the State of California, without giving effect to California principles of
conflicts of law. In the event that either party brings any action under this Agreement, the parties hereby irrevocably submit
to the exclusive jurisdiction of the federal courts of the United States located in the Los Angeles County and the state courts
of California with regard to any action, suit, proceeding, claim or counterclaim initiated under this Agreement.

 

8.4.
Specific Performance. The parties hereto recognize that any breach of the terms this Agreement may give rise to irreparable
harm for which money damages would not be an adequate remedy, and accordingly agree that any non-breaching party shall be entitled
to enforce the terms of this Agreement by a decree of specific performance without the necessity of proving the inadequacy as
a remedy of money damages. If specific performance is elected as a remedy hereunder, such remedy shall be in addition to any other
remedies available at law or equity.

 

8.5.
Severability. In the event any one or more of the provisions contained in this Agreement shall for any reason be held invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision
of this Agreement and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been
part of this Agreement.

 

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8.6.
Force Majeure. No party hereunder shall be responsible to another party for any loss or damage caused by delay in performance
or failure to perform in whole or in part hereunder when such delay or failure is attributable to events beyond that party’s
control, including, without limitation, sabotage, labor disputes, or acts of terrorism.

 

8.7.
Waiver. All waivers of any rights or breach hereunder must be in writing to be effective, and no failure to enforce any
right or provision shall be deemed to be a waiver of the same or other right or provision on that or any other occasion.

 

8.8.
Further Assurances. The parties agree to execute, acknowledge and deliver all such further instruments, and to do all such
other acts as may be necessary or appropriate in order to carry out the intent and purposes of this Agreement.

 

8.9.
Assignment. This Agreement may not be assigned or transferred (including, without limitation, through an asset sale, stock
sale, merger or the like) in whole or in part by Grantee and any attempt to do so shall be, and hereby is void. For the avoidance
of doubt, Grantor shall have the right to assign this Agreement upon written notice to Grantee of such assignment.

 

8.10.
Succession. This Agreement will bind and inure to the benefit of the parties and their respective successors and permitted
assigns.

 

8.11.
Entire Agreement. This Agreement constitutes the entire agreement of the parties, and supersedes any prior or contemporaneous
agreements between the parties, with respect to the subject of this Agreement. The parties will be bound only by a writing that
memorializes this Agreement and which is signed by an authorized representative of each party.

 

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    	7

    	 

    

 

IN
WITNESS WHEREOF, the undersigned hereby execute this Distribution Agreement as of the Effective Date.

 

	E-MOTION
    APPAREL INC.	 
	 	 	 
	By:	/s/
    Marilu Brassignton	 
	Name:	Marilu
    Brassington	 
	Title:	Chief
    Executive Officer	 
	 	E-Motion
    Apparel, Inc.	 
	 	20152
    Gilmore Street	 
	 	Winnetka,
    CA 91306	 
	 	 	 
	By:	/s/
    Elaine Cunningham	 
	Name:	Elaine
    Cunningham	 
	Title:	Director	 
	 	E-Motion
    Apparel, Inc.	 
	 	20152
    Gilmore Street	 
	 	Winnetka,
    CA 91306	 
	 	 	 
	By:	/s/
    Leticia Brito	 
	Name:	Leticia
    Brito	 
	Title:	Director	 
	 	E-Motion
    Apparel, Inc.	 
	 	20152
    Gilmore Street	 
	 	Winnetka,
    CA 91306	 
	 	 	 
	BITZIO,
    INC.	 
	 	 	 
	By:	/s/
    Hubert Blanchette	 
	Name:	Hubert
    Blanchette 	 
	Title:	Chief
    Executive Officer	 
	 	548
Market Street, Ste 18224	 
	 	San
Francisco, CA 94104	 

 

    	8EXHIBIT 10.1

 

AMENDMENT
no. 1 to 

Employment AGREEMENT

 

This
Amendment No. 1, effective as of November 20, 2013 (this “Amendment”), to that certain Employment Agreement
(the “Agreement”), dated as of April 23, 2013, is by and between Petro River Oil Corp. (the “Company”),
a Delaware corporation with its principal place of business at 1980 Post Oak Blvd., Suite 2020, Houston,
TX 77056, and Scot Cohen, the Executive Chairman of the Company (the “Executive”).

 

WHEREAS,
pursuant to Section 3(c) of the Agreement, the Company was to grant to the Executive cash-settled restricted stock units representing
66,340,597 shares of the Company, to vest in 20% increments each year for five years on the first through fifth anniversaries
of the effective date of the Agreement;

 

WHEREAS,
the Company and the Executive wish to amend the Agreement to substitute the restricted stock units for stock options of the Company,
under the 2012 Equity Compensation Plan (the “Options”); and

 

WHEREAS,
the Company and the Executive wish for the Options to vest in five equal installments, with the first 20% to vest as of the date
of granting, and the remaining Options vesting in four equal installments on the anniversary of the date hereof.

 

NOW
THEREFORE, in consideration of the promises and mutual covenants hereinafter set forth, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

1.
Amendments to the Agreement.

 

(a)
Effective as of the date hereof, Section 3(c) of the Agreement is
hereby deleted in its entirety and replaced with the following:

 

“(c)
Initial Options Grant. The Company shall grant the Executive 41,666,667 Fair Market Value Options, as defined in the 2012 Equity
Compensation Plan, to purchase an equal amount of shares of common stock of the Company (the “Initial Grant”).
The Initial Grant shall be on terms more fully described in Exhibit A hereto, with twenty percent of the Initial Grant to vest
immediately upon granting, and the remaining Options vesting in four equal installments on the anniversary of the date of the
Initial Grant.”

 

(b)
Effective as of the date hereof, Exhibit A of the Agreement is hereby
deleted in its entirety and replaced by Exhibit A, attached hereto.

 

2.
Continuing Effect of the Agreement. Except as expressly amended
hereby, the provisions of the Agreement are and shall remain in full force and effect and no party shall be deemed to have waived
any rights it may have under the Agreement as amended hereby.

 

    	 

    	 

    

 

3.
Governing Law; Jurisdiction and Venue. This Amendment is
made, executed and delivered in New York, New York and shall in all respects be construed, governed and enforced by and in accordance
with the laws of the State of New York, without giving effect to conflict of law principles which would result in the application
of laws of a jurisdiction other than the State of New York. In any action or proceeding arising from or relating to this Amendment,
the parties agree that the jurisdiction and venue shall be exclusively in the federal and state courts located in the County of
New York, State of New York, and each party waives any objection it may have with respect to the jurisdiction of such courts or
the inconvenience of such forum or venue.

 

4.
Execution; Counterparts. This Amendment may be executed in
several counterparts, including by facsimile or other electronic transmission, each of which shall constitute an original and
all of which, when taken together, shall constitute one agreement.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Executive has executed this Amendment and the Company has accepted this Amendment in New York, New York,
as of the date first above written.

 

		 	Petro
    River Oil Corp.
	 	 	 	 
	 /s/
     Scot Cohen	 	By:	/s/
    David Briones
	 Scot
    Cohen	 	Name:	 David Briones
	 	 	Title:	 Chief
    Financial Officer

 

[Signature
Page to Amendment No. 1 of Employment Agreement]

 

    	 

    	 

    

 

Exhibit
A

 

Initial
Options Grant

 

The
Company shall grant the Executive 41,666,667 Fair Market Value Options, as defined in the 2012 Equity Compensation Plan, to purchase
an equal amount of shares of common stock of the Company (the “Initial Grant”). Twenty percent (20%) of the Initial
Grant shall vest immediately upon granting, with the remainder vesting in four equal installments on the first through fourth
anniversaries of the date of the Initial Grant.

 

Treatment
upon termination of employment

 

	Death
    or Disability	Immediate
    vesting of the entire Initial Grant.
	 	 
	Voluntary
    quit	Unvested
    portion of Initial Grant forfeited and cancelled.
	 	 
	Termination
    for Cause	Unvested
    portion of Initial Grant forfeited and cancelled.
	 	 
	Termination
    without Cause/	 
	Quit
    for Good Reason	Immediate
    vesting of the entire Initial Grant.

 

The
terms of any award under this section shall be more fully set forth in an award agreement. It is expressly acknowledged and agreed
that this Exhibit A is a summary of the contemplated terms of the award agreement which will preserve the elements described herein,
but be subject to the reasonably required terms of the award agreements allowing for the orderly and lawful administration of
such awards.

 

    	 

    	 

    

 

PETRO
RIVER OIL CORP.

STOCK
OPTION GRANT NOTICE

 

Petro
River Oil Corp. (the “Company”), hereby grants to Scot Cohen (the “Option holder”) an option
to purchase the number of shares of the Company’s common stock, par value $0.00001 per share (the “Common Stock”),
as set forth below (the “Option”). The Option is granted pursuant to the terms of the Company’s 2012
Equity Compensation Plan (the “Plan”). The Option is subject to all the terms and conditions as set forth in
this grant notice (this “Grant Notice”), the Plan and the Notice of Exercise of Stock Option attached hereto
as Exhibit A (the “Notice of Exercise”), all of which are incorporated herein by reference in their
entirety.

 

	Optionholder	Scot
    Cohen
	Date
    of Grant	November
    20, 2013
	Number
    of Shares Subject to Option	41,666,667
	Exercise
    Price (per share)	$0.059
	Expiration
    Date	November
    20, 2023

 

Vesting
Schedule: The Option shall vest in five equal installments, with the first 20% vesting as of the date hereof, and the remaining
installments vesting on the first through fourth anniversaries of the date hereof.

 

Payment:
Payment can be made by one or more of the items checked below:

 

[X]
By cash or check

[X]
Pursuant to a Regulation T Program, if the Shares are publicly traded

[X]
By delivery of already-owned shares,if the Shares are publicly traded

 

To
the maximum effect permitted by law, the Options are intended to qualify as incentive stock options (the “Incentive Stock
Options”) within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated
thereunder. To the extent that the aggregate fair market value (determined at the Date of Grant) of Common Stock with respect
to which the Incentive Stock Options are exercisable for the first time by the Option holder during any calendar year exceeds
$100,000, the Options, or portions thereof that exceed such limit, shall be treated as nonstatutory stock options.

 

	petro
    river oil corp.	 
	 	 	 
	By:	/s/
    David Briones	 
	Name:	David Briones	 
	Title:	Chief Financial Officer	 
	Date:	November 20, 2013	 

 

    	 

    	 

    

 

EXHIBIT
A

 

PETRO
RIVER OIL CORP.

Notice
of Exercise of Stock Option

 

TO:     Petro
River Oil Corp. (the “Company”)

 

The
undersigned hereby exercises the Stock Option, dated November 20, 2013, granted by the Company pursuant to its 2012 Equity Compensation
Plan, to purchase ________ shares of common stock of the Company at a price of $0.059 per share, for a total purchase price of
$______.

 

Payment
method (Choose one or more of the following methods): Notify the Company if you wish to pay other than by cash or check as
these alternatives may be subject to special conditions or may not be available under certain circumstances.

 

	[  ]	 	Cash
    or Check
	[  ]	 	By
    Regulation T Program (cashless exercise)
	[  ]	 	Delivery
    of already-owned shares

 

Details:
By this Notice of Exercise, the undersigned agrees to provide for the payment by the undersigned to the Company (in the manner
designated by the Company) of applicable tax withholding obligation, if any, relating to the exercise of the foregoing Stock Option.

 

	 	 	 
	Date	 	Scot
    Cohen

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