Document:

Exhibit 10.2

 

	REALTY
    INCOME CORPORATION
 2021 INCENTIVE AWARD PLAN

 

RESTRICTED
STOCK GRANT NOTICE FOR NON-EMPLOYEE DIRECTORS

 

Capitalized terms not specifically
defined in this Restricted Stock Grant Notice (the “Grant Notice”) have the meanings given to them in the Realty
Income Corporation 2021 Incentive Award Plan (as amended from time to time, the “Plan”) .

 

Realty Income Corporation
(the “Company”) has granted to the participant listed below (“Participant”) the shares
of Restricted Stock described in this Grant Notice (the “Restricted Shares”), subject to the terms and conditions
of the Plan and the Restricted Stock Agreement attached hereto as Exhibit A (the “Agreement”), both of
which are incorporated into this Grant Notice by reference.

 

	Participant:	 
	Grant Date:	 
	Number of Restricted Shares:	 
	Vesting Commencement Date:	 
	Vesting Schedule:	 

 

(Signature Page Follows)

     

     

    

 

By Participant’s signature
below, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed the Plan,
this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept
as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this
Grant Notice or the Agreement.

 

	REALTY INCOME CORPORATION	 	PARTICIPANT
	 	 	 
	By:	              	 	
	Name:	 	 	[Participant Name]
	Title:	 	 	 

 

    A-2

     

    

 

Exhibit
A

 

RESTRICTED
STOCK AGREEMENT

 

Capitalized terms not specifically
defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant Notice, in the Plan.

 

ARTICLE I.

GENERAL

 

1.1          
Issuance of Restricted Shares. The Company will issue the Restricted Shares to Participant effective as of the grant date
set forth in the Grant Notice and will cause (a) a stock certificate or certificates representing the Restricted Shares to be registered
in Participant’s name or (b) the Restricted Shares to be held in book-entry form. If a stock certificate is issued, the certificate
will be delivered to, and held in accordance with this Agreement by, the Company or its authorized representatives and will bear the restrictive
legends required by this Agreement. If the Restricted Shares are held in book-entry form, then the book-entry will indicate that the Restricted
Shares are subject to the restrictions of this Agreement.

 

1.2              
Incorporation of Terms of Plan. The Restricted Shares are subject to the terms and conditions set forth in this Agreement
and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms
of the Plan will control.

 

ARTICLE II.

VESTING, FORFEITURE AND ESCROW

 

2.1          
Vesting.

 

(a)               
Subject to Section 2.2 below, the Restricted Shares will become vested Shares (the “Vested Shares”) according
to the vesting schedule in the Grant Notice.

 

(b)               
In addition, the Restricted Shares will become Vested Shares (i) immediately prior to a Change in Control, provided that Participant
continues to be a Service Provider until immediately prior to such Change in Control, or (ii) upon Participant’s Termination of
Service due to death.

 

(c)               
In the event of Participant’s Termination of Service due to Participant’s Disability, the Restricted Shares will continue
to vest in accordance with the vesting schedule in the Grant Notice, so long as (i) Participant’s Disability is continuing and (ii)
Participant is not employed by another employer on the applicable vesting date.

 

2.2          
Forfeiture(a). Subject to Sections 2.1(b) and 2.1(c) above, in the event of Participant’s Termination of Service for
any reason, Participant will immediately and automatically forfeit to the Company any Shares that are not Vested Shares (the “Unvested
Shares”) at the time of Participant’s Termination of Service, except as otherwise determined by the Administrator
or provided in a binding written agreement between Participant and the Company; provided that a number of Unvested Shares shall vest on
the date of such Termination of Service equal to the number of Restricted Shares that would have vested on the vesting date next following
the date of the Termination of Service (had Participant not experienced a Termination of Service prior to such date), pro-rated based
on the number of days elapsed from the vesting date immediately preceding the date of the Termination of Service through the date of the
Termination of Service (as a portion of the number of days between such Vesting Date and the Vesting Date next following the date of the
Termination of Service), rounded down to the nearest whole Restricted Share. Upon forfeiture of Unvested Shares, the Company will become
the legal and beneficial owner of the Unvested Shares and all related interests and Participant will have no further rights with respect
to the Unvested Shares.

 

    A-3

     

    

 

2.3          
 Escrow.

 

(a)               
Unvested Shares will be held by the Company or its authorized representatives until (i) they are forfeited, (ii) they become Vested
Shares or (iii) this Agreement is no longer in effect. By accepting this Award, Participant appoints the Company and its authorized representatives
as Participant’s attorney(s)-in-fact to take all actions necessary to effect any transfer of forfeited Unvested Shares to the Company
as may be required pursuant to the Plan or this Agreement and to execute such representations or other documents or assurances as the
Company or such representatives deem necessary or advisable in connection with any such transfer. The Company, or its authorized representative,
will not be liable for any good faith act or omission with respect to the holding in escrow or transfer of the Restricted Shares.

 

(b)               
As soon as reasonably practicable following the date on which an Unvested Share becomes a Vested Share, the Company will cause
the certificate (or a new certificate without the legend required by this Agreement, if Participant so requests) representing the Share
to be delivered to Participant or, if the Share is held in book-entry form, cause the notations indicating the Share is subject to the
restrictions of this Agreement to be removed.

 

2.4          
Rights as Stockholder. Except as otherwise provided in this Agreement or the Plan, upon issuance of the Restricted Shares
by the Company, Participant will have all the rights of a stockholder with respect to the Restricted Shares, including the right to vote
the Restricted Shares and to receive dividends or other distributions paid or made with respect to the Restricted Shares.

 

ARTICLE III.

TAXATION AND TAX WITHHOLDING

 

3.1         
Representation. Participant represents to the Company that Participant has reviewed with Participant’s own tax advisors
the tax consequences of the Restricted Shares and the transactions contemplated by the Grant Notice and this Agreement. Participant is
relying solely on such advisors and not on any statements or representations of the Company or any of its agents.

 

3.2          
No Section 83(b) Elections. Participant agrees that Participant will not file an election under Section 83(b) of Code, with
respect to the Restricted Shares without the consent of the Administrator. If Participant files a Section 83(b) election without the consent
of the Administrator, all of the Unvested Shares shall thereupon automatically be forfeited, without proration (notwithstanding Section
2.2(a) hereof).

 

3.3          
Tax Withholding.

 

(a)               
The Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely payment in
accordance with the Plan of any withholding tax arising in connection with the Restricted Shares as Participant’s election to satisfy
all or any portion of the withholding tax by requesting the Company retain Shares otherwise deliverable under the Award.

 

(b)                Participant
acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection with the Restricted Shares,
regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in
connection with the Restricted Shares. Neither the Company nor any Subsidiary makes any representation or undertaking regarding the
treatment of any tax withholding in connection with the awarding, vesting or payment of the Restricted Shares or the subsequent sale
of the Restricted Shares. Participant represents that he or she has reviewed with his or her own tax advisors the federal, state,
local and foreign tax consequences of the transactions contemplated by this Agreement and that Participant is relying solely on such
advisors and not on any statements or representations of the Company or any of its agents. The Company and the Subsidiaries do not
commit and are under no obligation to structure this Award to reduce or eliminate Participant’s tax liability.

 

    A-4

     

    

ARTICLE IV.

RESTRICTIVE LEGENDS AND TRANSFERABILITY

 

4.1          
Legends. Any certificate representing a Restricted Share will bear the following legend or such other legend as may be determined
by the Company until the Restricted Share becomes a Vested Share:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE
SUBJECT TO FORFEITURE IN FAVOR OF THE COMPANY AND MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A RESTRICTED STOCK AGREEMENT
BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

 

4.2          
Transferability. Unless permitted by the Administrator, the Restricted Shares are subject to the restrictions on transfer
in the Plan and may not be sold, assigned or transferred in any manner unless and until they become Vested Shares. Any attempted transfer
or disposition of Unvested Shares prior to the time the Unvested Shares become Vested Shares will be null and void. The Company will not
be required to (a) transfer on its books any Restricted Share that has been sold or otherwise transferred in violation of this Agreement
or (b)  treat as owner of such Restricted Share or accord the right to vote or pay dividends to any purchaser or other transferee
to whom such Restricted Share has been so transferred. The Company may issue appropriate “stop transfer” instructions to its
transfer agent, if any, or make appropriate notations to the same effect in its records.

 

ARTICLE V.

OTHER PROVISIONS

 

5.1          
Adjustments. Participant acknowledges that the Restricted Shares are subject to adjustment, modification and termination
in certain events as provided in this Agreement and the Plan.

 

5.2          
Notices. Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the
Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address
or facsimile number. Any notice to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant
at Participant’s last known mailing address, email address or facsimile number in the Company’s personnel files. By a notice
given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will
be deemed duly given when actually received, when sent by email, when sent by certified mail (return receipt requested) and deposited
with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by
a nationally recognized express shipping company or upon receipt of a facsimile transmission confirmation.

 

5.3          
Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction
of this Agreement.

 

5.4          
Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended
to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary
to conform to Applicable Laws.

 

    A-5

     

    

 

5.5           Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees,
and this Agreement will inure to the benefit of the successors and assigns of the Company, including without limitation any acquirer of
the Company in a Change in Control. Subject to the restrictions on transfer set forth in this Agreement or the Plan, this Agreement will
be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

 

5.6          
Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant
is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement and the Restricted Shares will be subject to
any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to
Rule 16b-3) that are requirements for the application of such exemptive rule. To the extent Applicable Laws permit, this Agreement will
be deemed amended as necessary to conform to such applicable exemptive rule.

 

5.7          
Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire
agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect
to the subject matter hereof.

 

5.8          
Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the
provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining
provisions of the Grant Notice or this Agreement.

 

5.9          
Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein
provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed
as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights
of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Award.

 

5.10       
Not a Contract of Employment or Service. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant
any right to continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights
of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant
at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement
between the Company or a Subsidiary and Participant.

 

5.11        
Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature,
subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument.

 

* * * * *

 

    A-6Exhibit 4.7

 

Consultant
Service Agreement

 

 

 

 

between

 

Mark
Ziirsen (ABN 27 409 001 686)

 

and

 

Naked
Brand Group Limited (ACN 619 054 938)

 

 

    	 	 	 

     

    

 

Contents

 

 

	1.	Definitions
    and Interpretation	1
	2.	Term	2
	3.	Services	3
	4.	Fees
    and Expenses	3
	5.	Relationship
    of the Parties	4
	6.	Intellectual
    Property	4
	7.	Subcontracting	4
	8.	Termination	5
	9.	Dispute
    Resolution	6
	10.	Confidentiality	6
	11.	Notices	7
	12.	General
    Provisions	8
	Signatures 	10
	Schedule
    | Particulars	11

 

    	Consultant Service Agreement

                                                                                 
	 	 

     

    

 

Consultant
Service Agreement

 

	Signed	19
    April 2021

 

Parties

 

Mark
Ziirsen (ABN 27 409 001 686) (the Consultant)

Naked
Brand Group Limited (ACN 619 054 938) (the Company)

 

Recitals

 

The
Company wishes to engage the Consultant to provide the Services.

The
Consultant has agreed to provide the Services to the Company on the terms set out in this agreement.

 

Agreed
Terms

 

	1.	Definitions
    and Interpretation

 

	1.1	Definitions

 

The
following definitions apply in this agreement:

 

Business
Day means any day (other than a Saturday, Sunday or public holiday) on which registered banks are open for general banking
business in Sydney, Australia.

 

Commencement
Date means 19 April 2021.

 

Confidential
Information means:

 

	 	(a)	the
    terms of this agreement, but not (for the avoidance of doubt) the existence of this agreement; and

 

	 	(b)	any
    non-public financial, business or commercial information relating to the other Party (in any form) which a Party may receive
    or obtain as a result of or in connection with this agreement.

 

Dispute
means any dispute arising under or relating to this agreement.

 

Fees
means the fees payable to the Consultant by the Company specified at paragraph 2 of the Schedule.

 

Intellectual
Property means all intellectual property, proprietary and industrial rights arising in connection with the Company’s
business (whether existing in statute, at common law or in equity), including:

 

	 	(a)	all
    copyright (including in source code and object code), rights in databases, know-how, trade secrets, methods (including business
    methods), technical and non-technical information, processes, characteristics, trade marks, trade names, business names, domain
    names, inventions, patents, design rights, discoveries and formulae;

 

	 	(b)	all
    improvements, enhancements, modifications or adaptations to any of the foregoing rights;

 

	 	(c)	all
    allied, similar and associated rights, whether registered or unregistered, registrable or unregistrable; and

 

	 	(d)	all
    applications to register, and all renewals of, any of the foregoing rights.

 

Key
Person means Mark Ziirsen.

 

    	Consultant Service Agreement
	 	Page 1

 

     

    

 

Nasdaq
means the stock exchange known as the “Nasdaq Capital Market” that is operated by The Nasdaq Stock Market LLC.

 

Parties
means the parties to this agreement and Party means either one of them.

 

Related
Body Corporate has the meaning given to that term in section 50 of the Corporations Act 2001 (Cth).

 

Related
Parties means, in relation to a Party:

 

	 	(a)	any
    director, officer or employee of, or professional adviser to, that Party; and

 

	 	(b)	any
    Related Body Corporate of that Party (wherever incorporated or formed).

 

Resolution
Institute means the Sydney branch of the Resolution Institute.

 

Services
means the services described at paragraph 1 of the Schedule.

 

Term
has the meaning given to it in clause 2.1.

 

	1.2	Interpretation

 

The
following rules of interpretation apply in this agreement:

 

	 	(a)	references
    to persons include natural persons, companies, and any other body corporates (wherever incorporated) and unincorporated
    bodies (wherever formed).

 

	 	(b)	references
    to the Parties include their respective executors, administrators, successors and permitted assignees.

 

	 	(c)	headings
    and subheadings have been inserted for convenience only and will not affect the interpretation of this agreement.

 

	 	(d)	references
    to this agreement means this agreement, including its Recitals and Schedule, as amended and/or replaced from time to
    time.

 

	 	(e)	references
    to clauses and the Schedule will be construed as references to clauses in and the schedule to this agreement.

 

	 	(f)	references
    to AU$ are references to Australian dollars.

 

	 	(g)	references
    to the words including, include or similar words do not imply any limitation and are deemed to have the words
    without limitation following them.

 

	 	(h)	a
    gender includes each other gender and the singular includes the plural and vice versa.

 

	 	(i)	all
    periods of time include the day on which the period commences and also the day on which the period ends.

 

	 	(j)	references
    to written or in writing shall include all modes of presenting or reproducing words, figures and symbols in
    a visible form (including via email).

 

	 	(k)	no
    rule of construction (including the contra proferentem rule) applies to the disadvantage of a Party because that Party
    (or its relevant advisor) was responsible for the drafting of this agreement or any part of it.

 

	2.	Term

 

	2.1	Commencement
    and duration

 

This
agreement will come into effect on the Commencement Date and, unless otherwise terminated in accordance with the terms of this
agreement, will continue in force for two years from the Commencement Date and any extensions in accordance with clause 2.2 (Term).

 

    	Consultant Service Agreement
	 	Page 2

 

     

    

 

	2.2	Automatic
    Extension

 

On
the date being six months prior to the expiration of the then current Term (Automatic Extension Date), the Term will be
automatically extended by a further two years unless prior to the Automatic Extension Date a party has provided written notice
to the other party that the Term will not be extended.

 

	3.	Services

 

	3.1	Provision
    of Services

 

The
Consultant will carry out the Services in accordance with this agreement and any services reasonably incidental to the Services,
as and when required in writing by the Company and in accordance with this agreement.

 

	3.2	The
    Consultant’s obligations

 

In
its performance of the Services, the Consultant will:

 

	 	(a)	exercise
    due care and skill in accordance with best industry practice;

 

	 	(b)	carry
    out its obligations in a prompt, efficient and diligent manner;

 

	 	(c)	comply
    with the Company’s reasonable and lawful directions;

 

	 	(d)	procure
    that the Key Person is responsible and available for performing the Consultant’s obligations; and

 

	 	(e)	provide
    to the Company, and/or make itself available to discuss, all information in relation to the Services as soon as reasonably
    practicable following any written request by the Company.

 

	3.3	The
    Company’s obligations

 

The
Company agrees that it will provide all reasonable support and direction to the Consultant in order to assist the Consultant to
provide the Services.

 

	4.	Fees
    and Expenses

 

	4.1	Fees

 

In
consideration for its provision of the Services, the Company will pay to the Consultant the Fees.

 

	4.2	Invoices

 

The
Consultant will provide invoices to the Company for the Fees in the manner specified at paragraph 3 of the Schedule.

 

	4.3	Expenses

 

The
Company will reimburse the Consultant for all expenses reasonably incurred by the Consultant in performing the Services, provided
that:

 

	 	(a)	for
    any expense which exceeds the threshold set by the Company from time to time, the Company has approved in writing the scope
    or details of any such expenses before it is incurred; and

 

	 	(b)	the
    Consultant produces all relevant receipts and other documentation to the Company in respect of such expenses.

 

    	Consultant Service Agreement
	 	Page 3

 

     

    

 

	4.4	Manner
    of payment

 

The
Fees and all expenses properly incurred by the Consultant under clause 4.3 will be paid at the time and in the manner specified
at paragraph 4 of the Schedule.

 

	4.5	Tax

 

The
Consultant is solely responsible for all taxes and other levies relating to the Services (including the remittance of income tax
and GST), and the Company shall make no deductions on account of tax or any other imposition except where it may be required by
law to do so.

 

	5.	Relationship
    of the Parties

 

	5.1	Status
    of the Consultant

 

The
Parties acknowledge and agree that the Consultant is and shall at all times remain an independent contractor of the Company, and
not (and nor is the Key Person) an employee of the Company.

 

	6.	Intellectual
    Property

 

	6.1	Ownership

 

The
Consultant agrees that all Intellectual Property that is created by or on behalf of the Consultant in connection with its provision
of the Services shall vest in, and be owned by, the Company immediately upon such Intellectual Property coming into existence
(including all Intellectual Property created by the Key Person).

 

	6.2	Enforcement
    of title

 

The
Consultant agrees to take all actions as may be reasonably required by the Company to perfect or enforce the Company’s title
to the Intellectual Property, which shall include executing and delivering any document required in order to perfect or enforce
such title (including, for the avoidance of doubt, a deed of assignment of intellectual property).

 

	6.3	Enduring
    effect

 

The
Parties agree that the provisions of this clause 6 shall survive the termination of this agreement.

 

	7.	Subcontracting

 

	7.1	Restriction
    on subcontracting

 

The
Consultant shall not be permitted to subcontract any person to provide all or any part of the Services unless the subcontractor
and the relevant subcontract have first been approved in writing by the Company.

 

	7.2	Effect
    of subcontracting

 

The
entry by the Consultant into a subcontract will not relieve the Consultant from liability for the performance of any of its obligations
under this agreement. The Consultant will be fully liable to the Company for the acts and omissions of each of its subcontractors
as if they were acts or omissions of the Consultant.

 

    	Consultant Service Agreement
	 	Page 4

 

     

    

 

	8.	Termination

 

	8.1	Termination
    at the end of the Term

 

This
agreement will automatically terminate at the end of the Term (without the requirement for notice) unless it is terminated earlier
under this clause 8.

 

	8.2	Termination
    for cause

 

If
a Party commits a material breach of this agreement that:

 

	 	(a)	is
    not remediable; or

 

	 	(b)	is
    remediable, and the defaulting Party does not remedy that breach within 10 Business Days of being required to do so in writing
    by the non-defaulting Party,

 

then
the non-defaulting Party may terminate this agreement with immediate effect by giving written notice to the defaulting Party.

 

	8.3	Termination
    without cause

 

	 	(a)	Either
    Party may terminate this agreement at any time during the Term, without cause, by giving at least:

 

	 	(i)	three
    months’ written notice, during the first six months of the Term; and

 

	 	(ii)	six
    months’ written notice, thereafter,

 

to
the other Party.

 

	 	(b)	Should
    the Company decide to so terminate this agreement, it may in lieu of all or part of such notice elect to make a payment to
    the Consultant equal to the Fees in respect of the remainder of such notice period.

 

	8.4	Termination
    for insolvency

 

Either
Party may terminate this agreement with immediate effect by giving written notice to the other Party if that other Party:

 

	 	(a)	becomes
    insolvent or otherwise cannot pay its debts as and when they fall due;

 

	 	(b)	has
    a receiver, administrator or liquidator appointed in relation to all or a material part of its assets;

 

	 	(c)	commences
    negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or enters into any composition
    or arrangement with its creditors generally; or

 

	 	(d)	has
    an order made or a resolution passed for its liquidation, dissolution or winding-up.

 

	8.5	Effect
    of termination

 

Upon
termination of this agreement (for whatever reason), the following provisions shall apply:

 

	 	(a)	The
    Consultant will promptly deliver to the Company all property, materials or equipment belonging to or concerning the Company
    or any property owned by the Company which is in the Consultant’s possession or control. This shall include any and
    all documents (in any form) that relate to the Company or any property owned by it or that contains Confidential Information
    and/or Intellectual Property.

 

	 	(b)	The
    Company shall, within 5 Business Days of the date of termination, pay to the Consultant all sums due and owing to the Consultant
    under this agreement.

 

    	Consultant Service Agreement
	 	Page 5

 

     

    

 

	8.6	Accrued
    rights and obligations on termination

 

Termination
of this agreement will not affect any accrued rights or obligations of any of the Parties.

 

	8.7	Enduring
    effect

 

The
Parties agree that the provisions of this clause 8 shall survive the termination of this agreement.

 

	9.	Dispute
    Resolution

 

	9.1	Negotiation

 

The
Parties must use reasonable endeavours to resolve any and all Disputes by negotiation. If a Dispute is settled following negotiations
under this clause 9.1, such settlement shall be recorded in writing and be signed by the Parties, whereupon it shall be final
and binding on the Parties.

 

	9.2	Mediation

 

If
the Parties cannot resolve their Dispute by negotiations under clause 9.1 within 20 Business Days, a Party may, by notice to the
other, require that the Dispute be dealt with by mediation under the following terms:

 

	 	(a)	The
    mediation shall be conducted in accordance with the Resolution Institute’s standard mediation agreement then in force
    (or any protocol or mediation agreement which replaces it).

 

	 	(b)	The
    mediation shall be conducted by a mediator and at a fee agreed in writing by the Parties. Failing agreement between the Parties
    within 10 Business Days of the giving of the notice requiring mediation, the mediator will be selected and his or her fee
    determined by the chairperson for the time being of the Resolution Institute (or his or her nominee).

 

	 	(c)	The
    mediation shall take place in Sydney, Australia at such address as determined by the mediator.

 

	 	(d)	If
    the Dispute is settled at or following mediation under this clause 9.2, such settlement shall be recorded in writing and be
    signed by the Parties, whereupon it shall be final and binding on the Parties.

 

	 	(e)	The
    costs of the mediation, excluding the Parties’ own legal and preparation costs, will be shared equally by the Parties.

 

	9.3	Court
    or arbitration proceedings

 

No
Party may initiate or commence court or arbitration proceedings relating to a Dispute unless it has complied with the procedure
set out in this clause 9, provided that application may still be made to the courts:

 

	 	(a)	for
    interlocutory relief;

 

	 	(b)	to
    recover a debt payable; or

 

	 	(c)	to
    enforce a settlement agreed to by the Parties under clause 9.1 or 9.2.

 

	10.	Confidentiality

 

	10.1	Confidentiality
    obligations

 

Except
as permitted in this clause 10, no Party will disclose or communicate to any third party any Confidential Information.

 

    	Consultant Service Agreement
	 	Page 6

 

     

    

 

	10.2	Disclosure
    to Related Parties

 

Each
Party may disclose Confidential Information to its Related Parties, but only if the Related Party to whom disclosure is made has
agreed in writing to adhere to that Party’s confidentiality obligations under this clause 10. The Parties agree that they
will be wholly responsible for all acts and omissions of their Related Parties concerning any Confidential Information disclosed
to them.

 

	10.3	Limits
    on obligations

 

A
Party will not have to observe any duty of confidentiality concerning Confidential Information that:

 

	 	(a)	the
    other Party gives its prior written consent to the disclosure of;

 

	 	(b)	is
    required to be disclosed by law or any legislative or regulatory authority;

 

	 	(c)	is
    required to be disclosed or announced in accordance with the listing rules or continuous disclosure rules of any recognised
    securities exchange including under the NASDAQ Stock Market Rules;

 

	 	(d)	is
    necessary to be disclosed to enable a Party to perform its obligations under this agreement; or

 

	 	(e)	at
    the time of disclosure is in, or subsequently enters, the public domain otherwise than by breach of any duty of confidentiality
    under this agreement.

 

	10.4	Survival
    of termination

 

The
restrictions in this clause 10 will continue to apply after the termination of this agreement.

 

	11.	Notices

 

	11.1	Written
    notice

 

All
notices and other communications to be given under this agreement must be in writing and be addressed to the Party to whom it
is to be sent at the physical address or email address from time to time designated by that Party in writing to the other Party
for such purpose.

 

	11.2	Designated
    addresses

 

Until
any other designation is given, the physical address and email address of each Party is as follows:

 

	The
        Consultant

        Address:
        41/123-125 Macquarie Street, Sydney NSW 2000

        Attention:
        Mark Ziirsen

        Email:
        mziirsen@optusnet.com.au
	 	The
        Company

        Address:
        Unit 7, 35-39 William Street, Double Bay NSW 2028

        Attention:
        Justin Davis-Rice

        Email:
        justin@jadrcorp.com

 

	11.3	Deemed
    delivery

 

Any
notice or communication given under this agreement shall be deemed to have been received:

 

	 	(a)	at
    the time of delivery, if delivered by hand;

 

	 	(b)	3
    Business Days after the date of mailing, if sent by ordinary post or courier within Australia;

 

	 	(c)	10
    Business Days after the date of mailing, if posted, couriered or delivered from overseas; and

 

	 	(d)	if
    sent by email, on the date and time at which it enters the recipient’s information system, as evidenced (if required
    by the recipient, where delivery is disputed) in a confirmation of delivery report from the sender’s information system
    which indicates that the email was sent to the email address of the recipient.

 

    	Consultant Service Agreement
	 	Page 7

 

     

    

 

	11.4	Delivery
    after hours and on non-Business Days

 

Any
notice or communication received or deemed received after 5.00pm or on a day which is not a Business Day in the place to which
it is delivered, posted or sent will be deemed not to have been received until the next Business Day in that place.

 

	12.	General
    Provisions

 

	12.1	Entire
    agreement

 

This
agreement constitutes the entire agreement and understanding of the Parties relating to the matters dealt with in this agreement
and supersedes and extinguishes any previous agreement (whether oral or written) between the Parties in relation to such matters.
Nothing in this clause 12.1 operates to limit or exclude any liability for fraud.

 

	12.2	Capacity

 

Each
Party warrants to the other Party that:

 

	 	(a)	it
    has full power and authority to enter into this agreement;

 

	 	(b)	all
    consents, authorisations and approvals that are necessary or required for that Party in connection with the signing of this
    agreement, and the assumption of rights and obligations under it, have been obtained or effected; and

 

	 	(c)	the
    signing, delivery and performance of this agreement does not constitute a breach of any law or obligation by which that Party
    it is bound and which would prevent it from entering into or performing its obligations under this agreement.

 

	12.3	Payments

 

All
sums payable under this agreement must be paid:

 

	 	(a)	in
    Australian dollars, unless this agreement expressly states otherwise;

 

	 	(b)	in
    cleared funds;

 

	 	(c)	into
    the bank account specified in writing by the recipient of the payment; and

 

	 	(d)	free
    and clear of any restriction, condition, set-off, deduction or withholding (except as required by law).

 

	12.4	Assignment

 

Neither
Party will assign or transfer, or purport to assign or transfer, any of their rights or obligations under this agreement without
the prior written consent of the other Party (such consent shall not be unreasonably or arbitrarily withheld or delayed).

 

	12.5	No
    waiver

 

No
Party will be deemed to have waived any right under this agreement unless the waiver is in writing and signed by that Party.

 

	12.6	Amendments

 

This
agreement may not be amended or varied in any way unless such amendment or variation is made in writing and signed by each Party.

 

    	Consultant Service Agreement
	 	Page 8

 

     

    

 

	12.7	Severability

 

If
any provision of this agreement is found by a court or other competent authority to be void or unenforceable, such provision will
be deemed to be deleted from this agreement and the remaining provisions of this agreement will continue in full force and effect.

 

	12.8	Rights
    and remedies

 

Unless
otherwise expressly provided in this agreement, the rights and remedies set out in this agreement are in addition to, and not
in limitation of, any other rights and remedies under or relating to this agreement (whether at law or in equity), and the exercise
of one right or remedy will not be deemed a waiver of any other right or remedy.

 

	12.9	No
    right of set-off

 

No
Party has any right of set-off, withholding or deduction from or against a payment due to the other Party.

 

	12.10	Counterparts

 

This
agreement may be signed and delivered in any number of counterparts, including by way of electronic transmission where a Party
signs a counterpart and sends it as a PDF to the other Party by email. All such counterparts, when taken together, shall constitute
one and the same instrument and, notwithstanding the date of signing, will be deemed to bear the date of this agreement.

 

	12.11	Electronic
    signing

 

A
Party may sign this agreement by way of the application of that Party’s electronic signature.

 

	12.12	Governing
    law and jurisdiction

 

This
agreement, and any claims arising out of or in connection with it or its subject matter or formation (including non-contractual
claims), will be governed by and construed in accordance with the laws of New South Wales, Australia and the Parties irrevocably
submit to the non-exclusive jurisdiction of the courts of Australia for any matter arising under or relating to this agreement
or its subject matter or formation or the relationships established by it (including non-contractual claims).

 

    	Consultant Service Agreement
	 	Page 9

 

     

    

 

Signatures

 

	Signed
    by Mark Ziirsen:	 	 
	 	 	 
	 	 	 
	Signature	 	 

 

	Signed
        for and on behalf of

        Naked
        Brand Group Limited:
	 	 
	 	 	Signature

         

	JUSTIN
    DAVIS-RICE	 	DIRECTOR
	Name	 	Position

 

    	Consultant Service Agreement
	 	Page 10

 

     

    

 

Schedule
| Particulars

 

	1.	Services

 

Chief
Financial Officer (CFO)

 

The
Consultant agrees to procure that the Key Person acts as CFO of the Company and provides the following services.

 

DESIRED
OUTCOMES:

 

	 	●	Quickly
    builds credibility and a reputation as a genuine partner to the CEO in delivering both top and bottom line improvements, through
    organic growth strategy and, where relevant, M&A and / or strategic alliances.
	 	●	Continue
    to promote and drive a results oriented ethos across the business and the finance function, ensuring that targets are met,
    if not surpassed.
	 	●	Demonstrate
    a strong operations focus that explores, challenges and capitalises on opportunities for improvement, innovation, investment
    and growth.
	 	●	Provide
    support and advice to the board, including ensuring best practice corporate governance and enterprise risk management.

 

CFO
SERVICES:

Strategy
– Work with the CEO, Board and management to establish attainable short and long term goals and activities that allow
the company to meet and exceed its annual and multi-year financial objectives.

 

CEO
Partner – Act as the “right-hand” partner to the CEO, continuing to guide pursuit of enterprise valuation
objectives and help hold management accountable for performance; serve as the CEO’s key executive in strategic financial
and funding matters, including interactions with investors, outside financial parties and advisors and key executives from other
external companies.

 

Functional
Leadership – Build a rejuvenated finance organization and team, one consistent with the need for deeper and more proactive
analytic efforts in pursuit of business excellence; lead, mentor, measure and appraise the team to ensure stellar capabilities
are in operation at all levels. This will enable the CFO and the finance organization overall to more fully and effectively partner
with management and functional operations to ensure they have the necessary financial tools and intelligence to develop, manage
and measure their respective business and functional plans.

 

Reporting
and Analytics – Ensure finance has the processes and systems, and sense of urgency to provide accurate and timely report
in all areas to satisfy both compliance requirements and management and Board needs. In particular, this means a need to focus
on management accounting and reporting, and to predict/articulate/analyse the notable business trends and supply chain economics.
This will mean the business has the granular financial information to understand the effectiveness of spend in various areas,
as well as help to better predict and direct where the value impact will be from operational improvement initiatives, and to pre-empt
negative financial impacts and prioritize corrective actions.

 

Key
project delivery – Help the CEO deliver on the major investment and development projects, including by monitoring cash
flow for these critical initiatives and helping to ensure resources are directed to the right projects so cost benefits are achieved.
Assist management and board to uncover additional performance improvement opportunities to realise specific objectives related
to overall strategic priorities

 

Board
Support – Ensure the Board has the information and analysis it requires to deliver on its duties and responsibilities;
develop monthly and annual financial summaries and presentations for the Board and Audit Committee and execute additional analysis
and reports as required.

 

    	Consultant Service Agreement
	 	Page 11

 

     

    

 

Financing
– Ensure compliance and effective risk management of the company’s capital structure; maintain close working relationships
with investors, bankers/lenders and other domestic and international financial partners and, when necessary, secure the necessary
financing to support the business; more general support corporate development, including potential acquisition analysis as well
as the structuring and negotiation of agreements. Preparation of prospectus and registration statements as and where required.

 

Treasury
and Tax – Oversee the development and execution of foreign exchange, hedging and international currency management policies
to effectively manage the company’s significant foreign exchange exposure; drive tax minimization; direct the cash management
function, ensuring the organization has adequate cash levels to operate effectively.

 

Enterprise
Risk – Identify areas of risk exposure and work with management to develop and implement enterprise risk management
strategies; ensure appropriate insurance coverage to protect the assets of the company and protect against the financial ramifications
of business interruptions.

 

Audit
and compliance - Manage Groups regulatory responsibilities, maintain effective and productive relations with external auditors
and provide required support to the Audit & Risk Committee.

 

Investor
Relations

 

IT
support and systems – Ensure and maintain appropriate IT support and systems that are fit for purpose and meets the
Group’s evolving requirements.

 

COMPANY
SECRETARIAL SERVICES:

 

Perform
the duties and responsibilities of a Company Secretary as required by the Corporations Act (CA), the Company’s Constitution,
US Securities and Exchange Commission (SEC) and any other relevant legislation or regulation by:

 

	 	●	Ensuring
    that the Company complies with its statutory obligations under any relevant laws and regulations
	 	 	 
	 	●	Statutory
    records:

 

	 	○	maintain
    registers, including share and warrant registers
	 	 	 
	 	○	ensure
    requisite retention of documents and records

 

	 	●	Ensuring
    completion and lodgement of statutory forms/returns and reporting under the CA, SEC and other relevant legislation/regulation,
    including:

 

	 	○	annual
    accounts
	 	 	 
	 	○	annual
    returns
	 	 	 
	 	○	change
    in Directors, secretaries
	 	 	 
	 	○	SEC
    and NASDAQ filings

 

	 	●	Ensuring
    compliance with the ‘continuous disclosure’ requirements of the CA, SEC and NASDAQ
	 	 	 
	 	●	Board
    meetings:

 

	 	○	arrange/co-ordinate,
    including developing annual calendar
	 	 	 
	 	○	set
    agenda
	 	 	 
	 	○	compile
    and circulate papers to Directors prior to meetings

 

    	Consultant Service Agreement
	 	Page 12

 

     

    

 

	 	○	take
    minutes
	 	 	 
	 	○	initiate
    and direct action to give practical effect to decisions

 

	 	●	Recording
    (and advise ASIC where necessary) declarations/conflicts of interest of Directors, including in relation to securities held
    in the Company
	 	 	 
	 	●	Assisting
    with/attend to signing of contracts and other documentation in connection with administrative matters
	 	 	 
	 	●	Ensuring
    adherence with the Company’s Constitution
	 	 	 
	 	●	Assist
    the Chairman and Directors in the conduct of meetings and their directorial and governance obligations and responsibilities
	 	 	 
	 	●	Carry
    out other duties related to the corporate administration of the Company including establishing a timetable of corporate actions
    required during the year pursuant to CA and SEC prepare a company secretarial report to the Board of Directors’ meetings
    covering such areas as:

 

	 	○	share/shareholder
    statistics
	 	 	 
	 	○	disclosure
    reports/ASIC and/or SEC or NASDAQ filings
	 	 	 
	 	○	Directors’
    interests
	 	 	 
	 	○	usage
    of Common Seal
	 	 	 
	 	○	changes
    in applicable laws/regulations

 

	 	●	Corporate
    governance:

 

	 	○	prepare
    and update charters for committees
	 	 	 
	 	○	write
    briefing papers
	 	 	 
	 	○	arrange
    meetings
	 	 	 
	 	○	take
    minutes

 

	 	●	Annual
    accounts:

 

	 	○	assist
    with compilation
	 	 	 
	 	○	provide
    information for Directors’ Reports & Notes

 

	 	●	Ensure
    timely lodgement with ASIC, SEC and others
	 	 	 
	 	●	Annual
    report:

 

	 	○	prepare
    sections covering ASIC requirements
	 	 	 
	 	○	generally
    assist with compilation
	 	 	 
	 	○	ensure
    timely lodgement with ASIC and arrange distribution to shareholders

 

	 	●	General
    meetings:

 

	 	○	arrange
    AGM (and any other extraordinary general meetings)
	 	 	 
	 	○	give
    due notice
	 	 	 
	 	○	prepare
    agenda
	 	 	 
	 	○	compile
    briefing notes for Chairman to conduct meeting

 

    	Consultant Service Agreement
	 	Page 13

 

     

    

 

	 	○	manage
    proxy votes, corporate representatives
	 	 	 
	 	○	take
    minutes

 

	 	●	Advise
    Board and support Directors through election process
	 	 	 
	 	●	Provide
    guidance to Directors, CEO and management on various matters including:

 

	 	○	trade
    practices/consumer laws
	 	 	 
	 	○	environmental
    matters
	 	 	 
	 	○	workplace,
    health and safety
	 	 	 
	 	○	employment
    laws
	 	 	 
	 	○	superannuation

 

	 	●	Maintaining
    member and share/options registries and arranging issuance, allotment, notification under CA of shares & issues pursuant
    to option plans where required
	 	 	 
	 	●	Managing
    dividend payments as required.

 

	2.	Fees

 

AU$350,000
per annum (plus GST if applicable).

 

To
encourage and reward exceptional service performance, the Company’s Compensation Committee and the Consultant will, within
a reasonable time after the Commencement Date, agree a set of key performance criteria for the Consultant (KPIs).

 

The
Company’s Compensation Committee, at their sole discretion, may approve incentive payments based upon the achievement of
KPIs for the relevant financial year, to be payable after the end of the financial year.

 

	3.	Invoices

 

Invoices
for the Fees are to be provided by the Consultant to the Company on a monthly basis in 12 equal instalments.

 

	4.	Payment
    of Fees and Expenses

 

The
Consultant will be paid by the Company (in accordance with clause 12.3) on or before the 20th day of the month following
receipt of the Consultant’s monthly invoice and expenses incurred under clause 4.3.

 

    	Consultant Service Agreement
	 	Page 14

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