Document:

June __, 2012                                

 

Skinny Nutritional Corp.

3 Bala Plaza East, Suite 101

Bala Cynwyd, PA 19004

Attn: Michael Salaman, Chief Executive Officer

 

Dear Mr. Salaman:

 

The undersigned hereby represents that the
undersigned is the sole holder of that certain Common Stock Purchase Warrant issued by Skinny Nutritional Corp. (the “Company”)
as specified below underneath my signature to this agreement (the “Warrant”).

 

The undersigned understands that the Company
is proposing to enter into a financing transaction with a new investor (or several affiliated new investors) (the “New
Investor”). The financing transaction (collectively, the “New Financing”) is proposed to be accomplished
in several steps with each step subject to certain conditions. The New Financing involves: (i) (A) an initial bridge financing
of $1,000,000 involving the sale of notes and (B) a follow on bridge financing of $3,000,000 of notes and units comprised of a
new series of senior preferred stock and common stock (such Preferred Stock and Common Stock referred to as “Units”);
(ii) an equity financing consisting of additional Units; and (iii) the provision of a senior debt facility (collectively, the “New
Financing”). The Company contemplates entering into a Securities Purchase Agreement (the “Purchase Agreement”)
with the New Investor to evidence the terms and conditions of the New Financing.

 

Non-Exercise Agreement

 

As a means of ensuring that the Company
has available a sufficient amount of shares of Common Stock for issuance in the New Financing, the undersigned hereby agrees that
effective as of the date first set forth above (the “Effective Date”) and through the occurrence of the Permitted
Exercise Event (as defined below), the Warrant shall not be exercisable in any manner and the undersigned shall have no right to
exercise such Warrants unless and until the occurrence of the Permitted Exercise Event. Accordingly, from and after the Effective
Date and until the Permitted Exercise Event has occurred, the undersigned agrees that any attempt to exercise the Warrant shall
be null and void. In addition, notwithstanding anything in the Warrant to the contrary, during the period from the Effective Date
through the occurrence of the Permitted Exercise Event, the Company shall not be obligated to reserve any shares of Common Stock
from its authorized shares of Common Stock for issuance upon the exercise of the Warrant.

 

As used herein, the “Permitted
Exercise Event” shall mean the first to occur of (i) the termination of Purchase Agreement prior to the Second Closing
(as defined in the Purchase Agreement) or (ii) the Company’s stockholders having approved an increase in the number of shares
of common stock authorized for issuance under the Company’s certificate of incorporation, as amended (the “Certificate
of Incorporation”), in such an amount so as to enable the Company to have a sufficient number of available authorized
but unissued shares of Common Stock to deliver to the undersigned upon the exercise of the Warrants subject to the foregoing restriction
after giving effect to the New Financing (the Certificate of Incorporation, as amended to reflect such modification, may be referred
to herein as the “Amendment”) and the Company having filed the Amendment with the Secretary of State of the
State of Nevada and such Amendment having been accepted by the Secretary of State of the State of Nevada.

 

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Transferability Restrictions

 

During the period commencing on the date
hereof and ending upon the occurrence of the Permitted Exercise Event (such period herein referred to as the “Lock-Up
Period”), the undersigned will not, directly or indirectly, through an “affiliate”, “associate”
(as such terms are defined in the General Rules and Regulations under the Securities Act of 1933, as amended (the “Securities
Act”)), a family member or otherwise, offer, sell, pledge, hypothecate, grant an option for sale or otherwise dispose
of, or transfer or grant any rights with respect thereto in any manner, the Warrant, or enter into any, enter into any swap or
any other agreement or any transaction that transfers, in whole or part, directly or indirectly, the economic consequence of the
ownership of the Warrant, during the Lock-Up Period; provided, however, that such Warrant may be sold or otherwise transferred
in a private transaction to an affiliate of the undersigned during the Lock-Up Period so long as the acquirer of the Warrant by
written agreement with the Company entered into at the time of the acquisition and delivered to the Company prior to the consummation
of such acquisition, agrees to be bound by the terms of this agreement.

 

Representations of Warrant Holder

 

The undersigned hereby represents that it
is the sole owner of record, and beneficially, of the Warrant, free and clear of any liens, claims and encumbrances, that the Warrant
has not been assigned, pledged or otherwise transferred, and that no other person or entity has any interest in, option on or any
other right of any type or nature, to the Warrant.

 

The undersigned acknowledges and understands
that unless and until the Permitted Exercise Event occurs, the undersigned will be unable to exercise the Warrant. The undersigned
further acknowledges and understands that there can be no guarantee as to when the Permitted Exercise Event will occur, if at all.
Accordingly, the undersigned may be subject to the restrictions contained herein for an indefinite period of time. It is further
agreed and acknowledged that upon the occurrence of the Permitted Exercise Event, the restrictions set forth in this letter agreement
shall automatically expire without any further action on the part of either the Company or the undersigned.

 

The undersigned (a) is an investor familiar
with the business of the Company, (b) has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of this investment decision and make an informed decision, (c) has the ability to bear the economic risks
of this decision, (d) has had an opportunity to ask such questions and make such inquiries concerning the Company and has received
such information regarding the Company, its business, its financial condition and its prospects as the undersigned has determined
to be necessary, and (e) is an “accredited investor” as that term is defined under Rule 501(a) under Regulation D under
the Securities Act (the provisions of which are known to the undersigned).

 

The undersigned further represents that
it has the full right, power, legal capacity and authority to enter into this agreement and to complete the transactions herein
contemplated and that this agreement constitutes a valid and binding obligation of the undersigned, and is enforceable against
the undersigned in accordance with its terms.

 

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Confidentiality

 

THIS AGREEMENT MAY BE DEEMED TO CONSTITUTE
MATERIAL NON-PUBLIC INFORMATION OF THE COMPANY. SECURITIES LAWS RESTRICT ANY PERSON WHO HAS MATERIAL NON-PUBLIC INFORMATION CONCERNING
THE COMPANY (INCLUDING THE MATTERS WHICH ARE THE SUBJECT OF THIS AGREEMENT) FROM PURCHASING OR SELLING SECURITIES OF THE COMPANY
OR FROM COMMUNICATING SUCH INFORMATION TO ANY OTHER PERSON. THE UNDERSIGNED (BY ACCEPTANCE OF THIS AGREEMENT) AGREES THAT IT SHALL
NOT PURCHASE OR SELL SECURITIES OF THE COMPANY WITH THE KNOWLEDGE OF A MATERIAL FACT OR MATERIAL CHANGE OR PROSPECTIVE MATERIAL
CHANGE IN THE BUSINESS OR AFFAIRS OF THE COMPANY THAT IT KNEW OR OUGHT REASONABLY TO HAVE KNOWN HAD NOT BEEN GENERALLY DISCLOSED.

 

THE UNDERSIGNED (BY RECEIPT OF THIS AGREEMENT)
AGREES TO KEEP THE COMPANY’S CONFIDENTIAL INFORMATION (INCLUDING THE INFORMATION CONTAINED HEREIN) STRICTLY CONFIDENTIAL
AND NOT TO DISCLOSE SUCH CONFIDENTIAL INFORMATION (INCLUDING THE EXISTENCE OR CONTENTS OF THIS AGREEMENT) TO ANYONE OTHER THAN
ITS ADVISORS, INCLUDING COUNSEL AND ACCOUNTANTS, FOR THE SOLE PURPOSE OF EVALUATING THE MATTERS DESCRIBED HEREIN. THE UNDERSIGNED
AGREES TO USE THE INFORMATION CONTAINED HEREIN ONLY FOR THE PURPOSE OF EVALUATION THE MATTERS DESCRIBED IN THIS AGREEMENT AND FOR
NO OTHER PURPOSE. ACCORDINGLY, THE UNDERSIGNED AGREES NOT TO PURCHASE, SELL, HYPOTHECATE, PLEDGE OR HEDGE ANY SECURITIES OF THE
COMPANY UNTIL SUCH TIME AS THE MATTERS DESCRIBED IN THIS AGREEMENT ARE PUBLICLY DISCLOSED BY THE COMPANY OR OF NO FORCE OR EFFECT.

 

General Matters

 

The
undersigned hereby agrees that the arrangements and restrictions set forth herein shall not give rise to any breach by the
Company of the Company’s obligations under the Warrant.

 

Notwithstanding anything to the contrary
herein, this agreement and the restrictions and covenants set forth herein, shall be of no force or effect if the Company does
not consummate the Initial Closing (as defined in the Purchase Agreement) of the New Financing on or before June 30, 2012

 

This agreement may be signed in counterparts
and shall become effective as if executed in a single, complete document upon its execution by the parties. Facsimile signatures
of the undersigned parties will have the same force and effect as original signatures. This agreement contains the entire agreement
and understanding of the parties with respect to its subject matter and supersedes all prior arrangements and understandings between
the parties, either written or oral, with respect to its subject matter. The provisions of this agreement shall not be waived,
modified, amended, altered or supplemented, in whole or in part, except by a writing signed by all the parties hereto. The failure
or neglect of the Company to insist, in any one or more instances, upon the strict performance of any of the terms or conditions
of this agreement, or its waiver of strict performance of any of the terms or conditions of this agreement, shall not be construed
as a waiver or relinquishment in the future of such term or condition, but the same shall continue in full force and effect.

 

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This agreement and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance
with the laws of the State of New York, without giving effect to principles of conflicts of law. The undersigned hereby irrevocably
submit to the non-exclusive jurisdiction of the state and federal courts sitting in the City of New York, for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waive, and agree not to assert in any suit, action or proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such
suit, action or proceeding is improper.

 

The undersigned is not entitled to cancel,
terminate or revoke this agreement and it shall survive the death or disability of the undersigned holder and shall be binding
upon his/her/its heirs, executors, administrators, successors, legal representatives, and permitted assigns.

 

The undersigned has
been advised and had the opportunity to consult with an attorney or other advisor prior to executing this agreement. The undersigned
understands, confirms and agrees that counsel to the Company is not acting as counsel to the undersigned and that the undersigned
has not relied upon any legal advice except as provided by its own counsel.The undersigned represents and warrants that it
has duly authorized its representative to execute this agreement on its behalf.

 

IN WITNESS WHEREOF, the parties have caused
this agreement to be duly executed as of the date first set forth above.

 

	 	WARRANT HOLDER
	 	 
	 	 
	 	Signature
	 	 
	 	Print Name:	 
	 	 	 
	 	Warrant No.:	 

 

	 	Warrant Issue Date:	 
	 	 	 
	 	Number of Warrants:	 

 

	 	Exercise Price:	 

 

Agreed to and accepted:

 

	Skinny Nutritional Corp.	 
	 	 
	 	 
	By: Michael Salaman	 
	Title: Chief Executive Officer	 

 

    	4AGREEMENT AND GENERAL RELEASE

 

CONSULT WITH AN
ATTORNEY BEFORE SIGNING THIS AGREEMENT AND RELEASE. BY SIGNING THIS AGREEMENT AND RELEASE, YOU GIVE UP AND WAIVE IMPORTANT LEGAL
RIGHTS.

 

This agreement and
general release (the “Agreement”) is made as of the Execution Date by and between Skinny Nutritional Corp (hereinafter
referred to as the “Company”) and by Donald J. McDonald (“McDonald” or “Employee”).
As used herein, the term “Execution Date” shall mean the later of the two dates on which this agreement has
been executed by Employee and the Company, as specified on the signature page of this Agreement.

 

WHEREAS, McDonald
has been an employee of the Company, and

 

WHEREAS, McDonald
has been employed pursuant to a written employment agreement dated as of August 16, 2010, as amended on August 4, 2011 (the “Employment
Agreement”); and

 

WHEREAS, Employee
and the Company each desire an amicable cessation of the employment relationship and to settle fully and finally any and all differences
between Employee and the Company including, but not limited to, any differences that might arise out of Employee’s employment
with the Company and the termination thereof;

NOW, THEREFORE,
in consideration of the covenants and promises contained herein and for other good and valuable consideration, receipt of which
is hereby acknowledged, Employee and the Company (who hereinafter collectively may be referred to as the “Parties”)
hereby agree as follows:

 

1.     
     Cessation of Relationship. Employee acknowledges and agrees that Employee’s
employment with the Company, including his position as Chief Financial Officer of the Company (and in any other capacity in
which Employee was employed either by the Company or any of its subsidiaries) terminated or shall terminate effective at the
close of business on June 28, 2012 (the “Termination Date”), and except as otherwise stated in this
Agreement, all terms of the Employment Agreement are terminated and shall be deemed superseded by this Agreement.

 

		a.	Employee hereby voluntarily resigns as a member of the board of directors of the Company (and hereby
resigns as a member of the board of directors of any subsidiary of the Company), including in his capacity as the Vice Chairman
of the Board, effective as of the Termination Date.

 

		b.	Employee will provide reasonable cooperation, whether before, on or after the Execution Date, in
completing any action necessary to fully implement his resignation, including the execution of any documentation necessary to effectuate
his removal from and/or the transfer of any position he has held as an officer, director, or committee member of the Company.

 

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2.    
      Severance Payments. On or after the Effective Date, as defined below, and in
consideration for Employee’s execution of this Agreement, and for the release of claims against the Company, and in
consideration of Employee’s further representations, promises and covenants, the Company will give Employee the
following:

 

		a.	The termination of Employee’s Employment shall be deemed a termination without cause.

 

		b.	Employee shall receive and be paid a severance payment equal to Employee’s Base Compensation
of $240,000 per annum, less legally required payroll deductions (the “Severance Payment”), payable in equal
installments on each of the Company’s regular pay dates for executives during the period commencing on the first regular
executive pay date following the Effective Date and continuing to August 16, 2014, provided that Employee has not revoked this
Agreement.

 

		i)	The Company, in its absolute discretion, may elect to pay up to $100,000 per annum of the Severance
Payment in shares of the Company’s common stock (the “Common Stock”), issued as of each of the regular pay dates
from the Effective Date through August 16, 2014. The value of the shares of Common Stock issued pursuant to this sub-section 2.(b)
i, shall be determined as provided in the Employment Agreement, as follows: the dollar amount of the Severance Payment to be issued
in shares of Common Stock divided by the fair market value (the “Fair Market Value”) of the Company’s Common
Stock. “Fair Market Value” means, as of the date of issuance, the value of a share of Common Stock determined
as follows: (i) if the Common Stock is listed on a national securities exchange, including the Nasdaq Stock Market, Inc. or is
quoted on the NASD OTC Bulletin Board, the last sale price of the Common Stock in the principal trading market for the Common Stock
on such date, as reported by the exchange, Nasdaq or the NASD, as the case may be, or if no sale was reported on that date, then
on the last preceding date on which such sale took place; (ii) if the Common Stock is not listed on a national securities exchange
or the Nasdaq Stock Market, Inc., or quoted on the NASD OTC Bulletin Board, but is traded in the residual over-the-counter market,
the last sale price of the Common Stock on such date, as reported by Pinksheets, LLC or similar publisher of such information,
or if no sale was reported on that date, then on the last preceding date on which such sale took place; and (iii) if the fair market
value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Committee shall determine,
in good faith.

 

		c.	The Company shall cause to be issued to the Employee as of the Effective Date, 2,000,000 shares
of the Company’s Common Stock representing Employee’s discretionary bonus for fiscal 2011.

 

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		d.	All unvested restricted stock awards held by the Employee as of the Termination Date shall been
deemed vested as of the Effective Date.

 

		e.	Employee shall be entitled to COBRA benefits to the maximum amount permitted by law, in accordance
with, and subject to, the terms and conditions of the Employment Agreement. The Company shall pay the premiums for continuation
health insurance coverage under the Company’s health insurance plans pursuant to COBRA through the first to occur of (i)
the expiration of the 36-month Severance Pay Period (as defined in the Employment Agreement) and (ii) the date Employee becomes
eligible to enroll in any health plan of another employer. In the event that Employee’s right to continuation health insurance
benefits under the Company’s health insurance plans under COBRA expires prior to the occurrence of (i) or (ii) above, the
Company shall provide Employee with reasonably equivalent health benefits for Employee and Employee’s family.

 

		f.	The Company shall reimburse Employee for the reasonable legal expenses incurred by Employee in
the negotiation and execution of this Agreement in an amount not to exceed $10,000.

 

3.     
     Compensation and Benefits.

 

		a.	Employee shall also be entitled to receive accrued compensation payable through the Termination
Date, which amount shall be paid on the first regular payroll period of the Company that occurs after the Effective Date.

 

		b.	To the extent Employee has unreimbursed business expenses, incurred through the Termination Date,
Employee has submitted all such expenses with all appropriate documentation prior to the Termination Date, and, those expenses
which meet the Company’s guidelines will be reimbursed. Any expense account that Employee has with the Company terminates
effective on the Termination Date, and any expenses already incurred will be reviewed and processed in accordance with the policies
and procedures of the Company. No new expenses may be incurred after the Termination Date. Employee represents that there are no
outstanding balances in his expense accounts that represent non-reimbursable expenses and to the extent there are any such amounts,
Employee agrees to promptly pay such amounts or, in the event of non-payment, the Company can offset such amounts against the Severance
Payment.

 

		c.	Employee shall be paid an aggregate of $24,000 for unused vacation time through the Termination
Date in equal monthly installments of $2,000.

 

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4.      
    Voting Agreement. 

 

		a.	From and after the Effective Date and until terminated in accordance with Section 4(e) below, at
every meeting of the stockholders of the Company called, and at every adjournment or postponement thereof, and on every action
or approval by written consent of the stockholders of the Company, Employee shall appear at the meeting or otherwise cause the
Subject Shares owned by him beneficially or as of record as of the record date for such stockholders’ meeting or written
consent, to be present thereat for purposes of establishing a quorum and, to vote, or direct any proxies appointed by him, to vote
(i) in favor of approval of any proposals contained in any proxy statements prepared by the Company that are supported by
the Company’s board of directors or management (the “Company Proposals”), (ii) against the approval
or adoption of any proposal made in opposition to, or in competition with, any Company Proposals, and (iii) against any other
proposal included in the Company’s proxy statements that is not supported by the Company. If Employee is the beneficial owner,
but not the record holder, of the Subject Shares, Employee agrees to take all actions necessary to cause the record holder and
any nominees to vote all of the Shares in accordance with this Section.

 

		b.	From and after the date hereof, except as otherwise permitted by this Agreement or by order of
a court of competent jurisdiction, Employee will not restrict his legal power, authority and right to vote all of the Subject Shares
then owned of record or beneficially by him or otherwise prevent or disable him from performing any of his obligations under this
Agreement. Without limiting the generality of the foregoing, except for this Agreement and as otherwise permitted by this Agreement,
from and after the date hereof, Employee will not enter into any voting agreement with any person or entity with respect to any
of the Subject Shares then owned of record or beneficially by him, grant any person or entity any proxy (revocable or irrevocable)
or power of attorney with respect to any of such Subject Shares (other than any proxies designated by the Company), deposit any
of such Subject Shares in a voting trust or otherwise enter into any agreement or arrangement with any person or entity limiting
or affecting Employee’s legal power, authority or right to vote such Subject Shares in accordance with the terms of this
Agreement.

 

		c.	As used herein, the term “Subject Shares” means, (i) all shares of common
stock of Company owned, beneficially or of record, by Employee as of the date hereof, (ii) all additional shares of common
stock of the Company acquired by Employee pursuant to the terms of this Agreement, and (iii) all additional shares of common stock
of the Company acquired by Employee that are distributed as a dividend or other distribution with respect to, issued upon exchange
of, or in replacement of, the Subject Shares (including, without limitation, in connection with any stock split, stock dividend,
recapitalization, reorganization, or the like).

 

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		d.	As of the date hereof and for so long as this Agreement remains in effect, except for this Agreement
or as otherwise permitted by this Agreement, Employee has full legal power, authority and right to vote all of the Subject Shares
then owned of record or beneficially by him, in accordance with the terms hereof without the consent or approval of, or any other
action on the part of, any other person or entity (including, without limitation, any governmental entity). Without limiting the
generality of the foregoing, Employee has not entered into any voting agreement (other than this Agreement) with any person or
entity with respect to any of the Subject Shares, granted any person or entity any proxy (revocable or irrevocable) or power of
attorney with respect to any of the Subject Shares, deposited any of the Subject Shares in a voting trust or entered into any arrangement
or agreement with any person or entity limiting or affecting his legal power, authority or right to vote the Subject Shares on
any matter.

 

		e.	The voting agreement set forth herein shall automatically terminate and be of no further force
or effect whatsoever on the first to occur of (i) the closing of a transaction pursuant to which the Company undergoes a change
of control, (ii) upon written notice by the Company, and (iii) the date that is the one year anniversary of the Expiration Date.

 

		f.	In the event the Company defaults in the payment of any amounts due Employee under the Agreement,
the provisions of this Section 4 shall be suspended until the Company is current in its payment obligations hereunder.

 

5.     
     No Admissions. Employee, the Company and Releasees understand that neither this Agreement
(nor anything contained herein) nor the making of this Agreement is intended, and shall not be construed, as an admission
that Employee, the Company or any of the Releasees have violated any federal, state or local law (statutory, decisional or
common law), or any ordinance or regulation, or has committed any wrong whatsoever with respect to the Employee (including,
but not limited to, breach of any contract, actual or implied).

 

6.       
   Acknowledgment. Employee acknowledges that the consideration provided in this Agreement exceed that to
which Employee would otherwise be entitled under the normal operation of any benefit plan, policy or procedure of the Company
or under any previous agreement (written or oral) between Employee and the Company. Employee further acknowledges that the
agreement by the Company to provide consideration pursuant to this Agreement beyond Employee’s entitlement is
conditioned upon Employee’s release of all claims against the Company and Employee’s compliance with all the
terms and conditions of this Agreement. Furthermore, except as provided in this Agreement, Employee gives up Employee’s
right to individual damages in connection with any administrative or court proceeding with respect to any claim that has been
waived herein, arising out of Employee’s employment or separation from employment from the Company and if Employee is
awarded or accepts money damages, Employee will assign to the Company any right and interest to such money damages.

 

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7.     
     No Other Payments or Rights. Employee acknowledges and agrees that he is owed no other
wages, commissions, bonuses, vacation pay, employee benefits, or other compensation, and except as provided for herein, there
shall be no other payments or benefits payable to Employee, including but not limited to, salary, bonuses, commissions,
benefits, finder’s fees and/or other payments or rights, including without limitation, the rights held by Employee
pursuant to Section 2.03 of the Employment Agreement.

 

8.      
    Arbitration. The Parties specifically and knowingly and voluntarily agree to arbitrate any
controversy, dispute or claim which has arisen or should arise in connection with Employee’s employment, the cessation
of Employee’s employment, or in any way related to the terms of this Agreement. The Parties agree to arbitrate any and
all such controversies, disputes, and claims before a single arbitrator in the Commonwealth of Pennsylvania in accordance
with the Rules of the American Arbitration Association. The arbitrator shall be selected by the Association and shall be an
attorney-at-law experienced in the field of corporate law and admitted to practice in the Commonwealth of Pennsylvania. In
the course of any arbitration pursuant to this Agreement, Employee and the Company agree (i) to request that a written award
be issued by the arbitrator and (ii) that each side is entitled to receive any and all relief it would be entitled to receive
in a court proceeding. The Parties knowingly and voluntarily agree to enter into this arbitration clause and, except as
provided in Section 9 of this Agreement, or as contemplated in Section 14 and 16 of this Agreement, waive any rights that
might otherwise exist to request a jury trial or other court proceeding. This paragraph is intended to be both a post-dispute
and pre-dispute arbitration clause. Any judgment upon any arbitration award may be entered in any court, federal or state,
having competent jurisdiction of the parties. The Parties’ agreement to arbitrate disputes includes, but is not limited
to, any claims of unlawful discrimination and/or unlawful harassment under Title VII of the Civil Rights Act of 1964,
as amended, the Age Discrimination in Employment Act 1967, as amended, the Americans with Disabilities Act, or any other
federal, state or local law relating to discrimination in employment and any claims relating to wage and hour claims and any
other statutory or common law claims.

 

9.     
      Injunctive Relief.

		a.	Notwithstanding anything to the contrary in the Employment Agreement or in this Agreement, Employee
acknowledges and agrees that any breach by Employee (or threat thereof) of the non-disparagement, confidentiality, non-competition,
or cooperation obligations (as provided by Paragraphs 10 – 13 of this Agreement) will cause the Company irreparable injury
not compensable by money damages and therefore, the Company will not have an adequate remedy at law and accordingly, the Company
may institute an action or proceeding in any court having competent jurisdiction to enforce such obligations, and the Company shall
be entitled to injunctive or other equitable relief to prevent or curtail any such breach, threatened or actual.

		b.	Notwithstanding anything to the contrary in the Employment Agreement or in this Agreement, the
Company acknowledges and agrees that any breach by the Company (or threat thereof) of the non-disparagement provisions as provided
by Paragraph 13 of this Agreement will cause Employee irreparable injury not compensable by money damages and therefore, Employee
will not have an adequate remedy at law and accordingly, Employee may institute an action or proceeding in any court having competent
jurisdiction to enforce such obligations, and Employee shall be entitled to injunctive or other equitable relief to prevent or
curtail any such breach, threatened or actual.

 

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10.     
    Confidentiality.

 

a.     Employee
agrees that the provisions of Sections 3.01 and 3.02 of the Employment Agreement shall remain in full force and effect. Employee
further acknowledges and agrees that any non-public and/or proprietary information of the Company and/or its customers disclosed
to or prepared by Employee during Employee’s employment remains confidential and may not be used and/or disclosed by Employee
hereafter without the prior written consent of the Company. Such information includes, without limitation, information concerning
products and services developed and under development, pending or completed Company regulatory matters (internal or external),
litigations, arbitrations, internal investigations or reviews, internal compliance memoranda and reviews.

 

b.     Employee
agrees that the terms and existence of this Agreement are and shall remain confidential and agrees, to the maximum extent permitted
by applicable law, rule, code or regulation, not to disclose (directly or indirectly) the terms, conditions or existence of this
Agreement, or to talk or write about the negotiation, execution or implementation of this Agreement, without the prior written
consent of the Company, except as required by law, regulatory authorities, internally to process this Agreement at the Company,
or in connection with any arbitration or litigation arising out of this Agreement. Anything herein to the contrary notwithstanding,
Employee may disclose the terms of this Agreement to Employee’s immediate family, financial advisor, accountant or attorney,
provided that Employee advises any individual to whom the terms, conditions or existence of this Agreement has been disclosed (in
accordance with this sentence) of the confidentiality requirements of this paragraph and Employee shall use Employee’s best
efforts to ensure that the requirements are complied with in all respects. Further, nothing in this paragraph shall preclude Employee
from using this Agreement in any action for breach of this Agreement. In that case, however, Employee shall seek to protect the
terms of this Agreement from public disclosure to the extent possible, including filing this Agreement under seal where permissible
to do so.

 

c.     Employee
agrees that in the event Employee is contacted by the media in any form, including, but not limited to, any wire service, newspaper,
magazine or web-based news service, with respect to the Company, its clients and/or customers, and/or Employee’s conduct
and/or employment at the Company, Employee will immediately refer all contacts directly to Mr. Michael Salaman, Chief Executive
Officer, or his successor at the Company.

 

11.        
 Restrictive Covenants. Employee hereby agrees that all of the provisions of the restrictive covenants included in
Section 3.03 of the Employment Agreement shall remain in full force and effect in accordance with their terms and Employee
shall abide by such provisions.

 

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12.    
     Intellectual Property. Employee agrees to fully comply with the provisions of Section 3.04
of the Employment Agreement and irrevocably assigns to the Company all his right, title and interest in and to all
Intellectual Property (as defined in the Employment Agreement), including products, ideas, know-how, trademarks, tradenames,
methods, plans, patents, patent applications relating to the present or future business of the Company that was developed by
Employee (either alone or jointly with others) during the course of his employment with the Company. Employee agrees that all
such Intellectual Property is hereby irrevocably assigned to and shall be and remain the sole and exclusive property of the
Company and shall be deemed the product of work for hire. Employee hereby agrees to execute such assignments and other
documents (including patent applications and trademark applications) as the Company may consider appropriate to vest all
right, title and interest therein to the Company and hereby appoints the Company as his attorney-in-fact with full powers to
execute such documents itself in the event Employee fails or is unable to provide the Company with such signed documents.

 

13.      
   Non-Disparagement.

 

		a.	Employee agrees that for a period of three years following the Termination Date, Employee will
not make any negative or derogatory statements in verbal, written, electronic or any other form about the Company, its, officers,
directors, products, customers, suppliers, employees, agents or affiliates, including, but not limited to, a negative or derogatory
statement made in, or in connection with, any article or book, on a website, in a chat room or via the internet except where such
statement is required by law or regulation. Nothing contained in this paragraph shall be construed as requiring the Employee to
provide untruthful sworn testimony in any legal proceeding.

 

		b.	The Company agrees that for a period of three years following the Termination Date, the Company
will not make any negative or derogatory statements in verbal, written, electronic or any other form about Employee, including,
but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a
chat room or via the internet except where such statement is required by law or regulation. Nothing contained in this paragraph
shall be construed as requiring any individual to provide untruthful sworn testimony in any legal proceeding.

 

14.     
    Litigation.

 

a.     The
payments to be made hereunder are conditioned on the full cooperation by Employee with the Company in the prosecution or defense,
as the case may be, of any and all actions, governmental inquiries or other legal or regulatory proceedings in which Employee’s
assistance may be reasonably requested by the Company. Reasonable expenses arising from the cooperation will be reimbursed within
the Company’s guidelines. Consistent with the Articles of Incorporation of the Company, and the Company’s By-Laws,
and the Employment Agreement, but in any event subject to applicable law, the Company will hold harmless and indemnify Employee
from and against any expenses (including attorneys’ reasonable fees), judgments, fines and amounts paid in settlement arising
from any claim, suit or other action against Employee by any third party, on account of any action or inaction by Employee taken
or omitted to be taken by Employee on behalf of the Company during the course of his employment, up to his date of termination,
provided that such action or inaction by Employee was within the scope of Employee’s employment, and was taken (or not taken)
in good faith.

 

    	8

    	 

    

 

b.     Promptly
after receipt by Employee under this paragraph of notice of the commencement of any action, suit or proceeding, Employee shall
notify the Company in writing of the commencement thereof (but the failure so to notify shall not relieve the Company from any
liability which it may have under this paragraph except to the extent that it has been prejudiced in any material respect by such
failure or from any liability which it may have otherwise). In case any such action is brought against Employee, and Employee notifies
the Company of the commencement thereof, the Company will be entitled to participate therein, and to the extent it may elect by
written notice delivered to the Employee promptly after receiving the aforesaid notice from Employee, the Company may assume the
defense thereof. Notwithstanding the foregoing, Employee shall have the right to employ his own counsel in any such case but the
fees and expenses of such counsel shall be at the expense of Employee unless (i) the employment of such counsel shall have been
authorized in writing by the Company in connection with the defense of such action at the expense of the Company, or (ii) Employee
and his counsel shall have reasonably concluded that there may be material defenses available to him that are different from or
additional to those available to the Company (in which case the Company shall not have the right to direct the defense of such
action on behalf of Employee), in any of which events such fees and expenses of one additional counsel shall be borne by the Company.
Anything in this paragraph to the contrary notwithstanding, neither Employee or the Company shall be liable for any settlement
of any claim or action effected without its written consent; provided however, that such consent was not unreasonably
withheld, and, provided further, that no consent shall be required if such settlement provides for a full and final release of
the Company and the Employee with no required admission of liability or requirement of payment.

 

c.     Employee
acknowledges that he has advised the Company completely and candidly of all facts of which he is aware that may give rise to legal
matters. The Company is not aware of any claims or any facts giving rise to a claim against the Employee by the Company.

 

15. 
        References. You agree to cause all requests for references to be
forwarded in writing to the Company, attention: Office of the Chief Executive Officer. The Company will state in response to
such inquiries your dates of employment and positions held. The Company shall not be responsible for responses to reference
requests sought or obtained other than under the procedures set forth in this paragraph.

 

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16.      
   Waiver and Release.

 

		a.	In consideration of the payments, benefits, agreements, and other consideration to be provided
by the Company as described in this Agreement, Employee for himself and for his heirs, executors, administrators, and their respective
successors and assigns HEREBY RELEASES AND FOREVER DISCHARGES, to the maximum extent permitted by law, the Company, its
stockholders, subsidiaries, affiliates, divisions, successors and assigns, their respective current and former officers, directors,
employees, agents, attorneys, whether as individuals or in their official capacity, and each of their respective successors and
assigns (hereinafter collectively referred to as the “Releasees”) of and from all or any manner of actions,
causes and causes of action, suits, debts, obligations, damages, complaints, liabilities, losses, covenants, contracts, controversies,
agreements, promises, variances, trespasses, judgments and expenses (including attorneys’ fees and costs), extents, executions,
claims and demands whatsoever at law or in equity (“claims”), specifically including by way of example but not limitation,
Title VII of the Civil Rights Acts of 1964 and 1991, as amended; the Civil Rights Act of 1866; the Employee Retirement Income Security
Act of 1974, as amended; the National Labor Relations Act, as amended; the Americans with Disabilities Act of 1990; the Age Discrimination
in Employment Act of 1967, as amended; the Worker Adjustment and Retraining Notification Act; the Pregnancy Discrimination Act,
the Sarbanes-Oxley Act of 2002, under the Pennsylvania Human Relations Act, the Pennsylvania Equal Pay Act, or any applicable federal
or state False Claims Act statute; and all Federal, State and local statutes, regulations, decisional law and ordinances and all
human rights, fair employment, contract and tort laws relating in any way to Employee’s employment with the Company and/or
the termination thereof, including, by way of example but without limitation, any civil rights or human rights law, as well as
all claims for wrongful discharge, breach of contract, personal injury, defamation, mental anguish, injury to health and reputation,
sexual, harassment, which Employee ever had, now has, or which Employee hereafter can, shall or may have for, upon or by reason
of any matter, cause or thing whatsoever arising out of the Employment Agreement, Employee’s employment by the Company or
the termination thereof from the beginning of the world until the Execution Date, provided that this General Release shall not
extend to (i) any rights, remedies, or claims Employee may have in enforcing the terms of this Agreement; (ii) any rights Employee
may have to receive vested amounts under the Company’s stock option plan, 401-K or pension plans; or (iii) Employee’s
rights to medical benefit continuation coverage, on a self-pay basis, pursuant to federal law (COBRA). Employee takes this action
fully aware of Employee’s rights arising under the laws of the United States (and any State or local governmental entity
thereof) and voluntarily waives and releases all such rights or claims under these or other laws, but does not intend to, nor is
Employee waiving any rights or claims that may arise after the date that this Agreement is signed by Employee. The provisions of
any laws providing in substance that releases shall not extend to claims which are at the time unknown to or unsuspected by the
person executing such release, are hereby waived.

 

    	10

    	 

    

 

		b.	In consideration of the benefit to the Company of this Agreement and Employee’s waiver of
his rights as provided herein, the Company hereby agrees to forever waive its right to terminate the Employee Agreement for “Cause,”
or claim that Employee has committed acts or omissions that would constitute ”Cause” under the Employment Agreement.

 

17.     
    Applicable Law. This Agreement shall be deemed to have been made within the Commonwealth of
Pennsylvania, and shall be interpreted and construed and enforced in accordance with the laws of the Commonwealth of
Pennsylvania without regard to its conflicts of law provision. This Agreement shall be subject to specific performance.

 

18.     
    Right to Review. Employee is hereby advised of Employee’s rights to review this Agreement
with counsel of Employee’s choice. Employee has had the opportunity to consult with an attorney and/or other advisor of
Employee’s choosing before signing the Agreement, and was given a period of twenty-one (21) days to consider the
Agreement. Employee is permitted, at his discretion, to return the Agreement prior to the expiration of this 21-day period.
Employee acknowledges that in signing this Agreement, Employee has relied only on the promises written in this Agreement, and
not on any other promise made by the Company or any other entity or person.

 

19.    
     No Pending Actions. Employee represents that Employee has not filed any complaints, charges
or claims against the Company with any local, State, or Federal agency or court, or with any other forum.

 

20.       
  Return of Property. Employee agrees to immediately return any Company property no matter where located to the
Company including, but not limited to, Company laptop, telephone, computer, iPad, I.D. card, corporate credit card, keys,
computer disks, and written/electronic material prepared in the course of employment at the Company. Employee covenants and
agrees that if he determines any Company property is in his possession in the future he will promptly notify the Company and
return the property. Employee agrees to transfer any Company related business calls to the current Chief Executive
Officer.

 

21.    
     Severability. If any provision of this Agreement, or any part thereof, is held to be
invalid or unenforceable because of the scope or duration of or the area covered by such provision, Employee and the Company
agree that the court or other appropriate decision-making authority making such determination shall reduce the scope,
duration and/or area of such provision (and shall substitute appropriate provisions for any such invalid or unenforceable
provisions) in order to make such provision enforceable to the fullest extent permitted by law and/or shall delete specific
words and phrases, and such modified provision shall then be enforceable and shall be enforced. In the event that any court
or other appropriate decision-making authority determines that the time period or the area, or both, are unreasonable and
that any of the covenants is to that extent invalid or unenforceable, the parties hereto agree that such covenants will
remain in full force and effect, first, for the greatest time period, and second, in the greatest geographical area that
would not render them unenforceable. If any provision of this Agreement is held to be invalid or unenforceable, the remaining
provisions of this Agreement shall nonetheless survive and be enforced to the fullest extent permitted by law.

 

    	11

    	 

    

 

22.     
    Entire Agreement. Except as otherwise expressly provided herein, this Agreement and Release,
together with the General Release constitute the entire agreement between the Parties and supersede any and all prior
agreements, whether written or oral, including (except as expressly set forth herein) the Employment Agreement. This
Agreement may not be modified or changed, except in a written agreement signed by both Parties.

 

23.      
   Counterparts. The Agreement may be executed in multiple counterparts, each of which shall be considered
an original but all of which shall constitute one agreement.

 

24.       
  Taxes. Any payments made or benefits provided to you under this Agreement will be reduced by any applicable
federal and state withholding and employment taxes.

 

25. 
        Notices. Any notices provided for in this Agreement shall be in writing
and shall be effective when delivered in person, consigned to a reputable national courier service or deposited in the United
States mail, postage prepaid, and addressed to you at your last known address on the books of the Company or, in the case of
the Company, to it at its principal place of business, attention of the Chair of the Board, or to such other address as
either party may specify by notice to the other actually received.

 

26.      
   Indemnification. Employee agrees to indemnify and hold harmless each and
all of the Releasees from and against any and all direct and indirect loss, cost, damage, or expense, including, but not
limited to, reasonable attorneys’ fees, incurred by the Releasees, or any of them, arising out of any breach by
Employee of this Agreement, or the fact that any representation made by Employee in this Agreement was false when made. 

 

27.      
   Older Worker Benefit Protection. Notwithstanding any other provision of
this Agreement to the contrary:

 

		a.	The Company and Employee agree that, by entering
into this Agreement, Employee does not waive rights or claims that may arise after the date this Agreement is executed.

 

		b.	The Company and Employee agree that this Agreement shall not affect the
rights and responsibilities of the Equal Employment Opportunity Commission (the “EEOC”) to enforce the Age Discrimination
in Employment Act of 1967, as amended, and other laws, and further agree that this Agreement shall not be used to justify interfering
with Employee’s protected right to file a charge or participate in an investigation or proceeding conducted by the EEOC.
The Company and Employee further agree that Employee knowingly and voluntarily waives all rights or claims (that arose prior to
Employee’s execution of this Agreement) Employee may have against the Releasees, or any of them, to receive any benefit or
remedial relief (including, but not limited to, reinstatement, back pay, front pay, damages, and attorneys’ fees) as a consequence
of any charge filed with the EEOC, and of any litigation concerning any facts alleged in any such charge.

 

    	12

    	 

    

 

		c.	This Agreement shall not affect or be used to interfere with Employee’s
protected right to test in any court, under the Older Worker Benefit Protection Act, or like statute or regulation, the validity
of the waiver of rights set forth in this Agreement. 

 

		d.	The Company and Employee agree that, for
a period of seven (7) days following the execution of this Agreement (the “Revocation Period”), Employee has the right
to revoke this Agreement by written notice to Mr. Michael Salaman, Chief Executive Officer, Skinny Nutritional Corp. The Company
and Employee further agree that this Agreement shall not become effective or enforceable until the eighth (8th) day after the execution
of this Agreement; and that in the event Employee revokes this Agreement prior to the eighth (8th) day after the execution of this
Agreement, this Agreement, and the promises contained in this Agreement, shall automatically be deemed null and void. Provided
Employee has not revoked this Agreement during the Revocation Period, this Agreement shall automatically become effective on the
eighth (8th) day following the receipt by the Company of a copy of this Agreement fully executed by Employee.

 

		e.	The Company hereby advises and urges Employee
in writing to consult with an attorney prior to executing this Agreement. Employee represents and warrants that the Company gave
Employee a period of at least twenty-one (21) days in which to consider this Agreement before executing this Agreement.

 

		f.	Employee’s acceptance of monies paid
by the Company or securities issued by the Company, as described in Section 2 of this Agreement, at any time more than seven (7)
days after the execution of this Agreement shall constitute an admission by Employee that Employee did not revoke this Agreement
during the revocation period of seven (7) days; and shall further constitute an admission by Employee that this Agreement has become
effective and enforceable.

 

		g.	If Employee executed this Agreement at any time prior to the end of the
greater than twenty-one (21) day period that the Company gave Employee in which to consider this Agreement, such early execution
was a knowing and voluntary waiver of Employee’s right to consider this Agreement for at least twenty-one (21) days, and
was due to Employee’s belief that Employee had ample time in which to consider and understand this Agreement, and in which
to review this Agreement with an attorney.

 

    	13

    	 

    

 

EMPLOYEE EXPRESSLY
ACKNOWLEDGES, REPRESENTS, AND WARRANTS THAT EMPLOYEE HAS CAREFULLY READ THIS AGREEMENT; THAT EMPLOYEE FULLY UNDERSTANDS THE TERMS,
CONDITIONS, AND SIGNIFICANCE OF THIS AGREEMENT; THAT EMPLOYEE HAS HAD AMPLE TIME TO CONSIDER AND NEGOTIATE THIS AGREEMENT; THAT
THE COMPANY HAS ADVISED AND URGED EMPLOYEE TO CONSULT WITH AN ATTORNEY CONCERNING THIS AGREEMENT; THAT EMPLOYEE HAS HAD A FULL
OPPORTUNITY TO REVIEW THIS AGREEMENT WITH AN ATTORNEY; AND THAT EMPLOYEE HAS EXECUTED THIS AGREEMENT VOLUNTARILY, KNOWINGLY, AND WITH SUCH ADVICE FROM AN
ATTORNEY, AS EMPLOYEE DEEMED APPROPRIATE.

 

    	14

    	 

    

 

SIGNATURE PAGE OF
SKINNY NUTRITIONAL CORP. TO 

 

AGREEMENT AND GENERAL
RELEASE

 

	Skinny Nutritional Corp.	 	 
	 	 	 	 
	By	/s/ Michael Salaman	 	   June 28, 2012           
	Name:	Michael Salaman	 	Date
	Title:	Chief Executive Officer	 	 

 

    	15

    	 

    

 

SIGNATURE PAGE OF
DONALD J. McDONALD TO 

 

AGREEMENT AND GENERAL
RELEASE

 

	/s/ Donald J. McDonald	 	June 12, 2012
	Donald J. McDonald	 	Date

 

	COMMONWEALTH OF PENNSYLVANIA	)
	 	) SS:
	COUNTY OF MONTGOMERY	)

 

I HEREBY CERTIFY that
on this day, before me, an officer duly authorized in the county aforesaid and in the state aforesaid to take acknowledgments,
personally appeared Donald J. McDonald who is personally known or whom have produced sufficient identification and whom executed
the foregoing instrument and acknowledged before me that he/she had the authority to execute same in his name and did, in fact,
execute the same in the capacity as stated herein.

 

WITNESS my hand and
official seal in the Commonwealth of Pennsylvania last aforesaid on this 12 day of June, 2012.

 

	 	/s/	 
	 	Notary Public	 
	 	CC#	 
	 	My Commission Expires:	 

 

    	16

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