Document:

Exhibit 10.2

  

   

    

  
    EXECUTIVE EMPLOYMENT AGREEMENT

    

    

    

    

    This is an EXECUTIVE EMPLOYMENT AGREEMENT (the "Agreement") dated as of October 1, 2016 (the "Effective Date"). between Mid-Southern Savings Bank, FSB (the "Bank"), and Alexander G. Babey ("Executive").

    

    

    Agreement

    

    

    The Bank and Executive agree as follows:

     

      

    1.              Employment and Term

     

      

          The Bank will employ Executive as President and Chief Executive
      Officer, and Executive accepts the employment, on the terms and conditions set forth in this Agreement. Unless earlier terminated pursuant to Section 5, the initial term of this Agreement begins on the Effective Date and ends on the three-year
      anniversary of the Effective Date; thereafter,  the  term of this Agreement will automatically be extended for  additional  12- month  periods  unless  the Bank or Executive gives a notice of  nonrenewal to  the  other party at least  60 days before
      the end  of the initial term or the then-current 12-month period. The "Term" of this Agreement is the initial term together with all 12-month
      extensions.  The Term will end upon the termination of this Agreement by one or more of the parties hereto.

     

    

     2.             Duties and Responsibilities

    

      Executive will perform the duties customary for the position of President and Chief Executive Officer and any specific duties assigned from time to time
      by the Bank’s Board of Directors (the "Board"). Throughout the Term, Executive agrees to use his best efforts for the Bank's benefit and to devote his full time, attention, and energies to
      the Bank's business. Executive reports to the Bank's Board and will also serve as a member of the Bank's Board.

    

    

      Executive may engage in other business activities with the Board's approval and may invest his personal assets so long as the investment does not
      interfere with his performance under this Agreement and so long as no single or group of investments place Executive's financial well- being at risk. The Bank will provide Executive with an office, a computer, and such other facilities, equipment.
      supplies, and services as are reasonably suitable to his position.

    

    

      Executive will also serve as an executive officer and member of the Board of Directors of the Bank’s parent, Mid- Southern Mutual Holding Company (the "Holding Company").

     

    

    3.             Compensation; Benefits.

    

    

             (a)  Base Salary.  While employed by the Bank, Executive will be paid $155,000 annually (the "Base Salary") as compensation for his services under this Agreement, payable on the
        Bank’s normal payroll schedule.  Executive’s Base Salary will be reviewed periodically and may be increased from time to time by the Board in its sole discretion.  Executive’s Base Salary may only be decreased with his consent.

     

      

     

      

     

      

    
      
        

    

    
    

                    (b)     Benefits. To the extent permitted under the applicable plan documents, Executive is entitled to participate in all benefit plans and arrangements generally available to employees of the Bank and
      in any supplementary benefits
        provided to senior executives of the Bank, all in accordance with the terms of such plans and programs. The Bank has the right to
        modify the benefits available to its employees and senior executives from time to time.

     

      

    

                    (c)     Car Allowance.  The Bank will provide Executive an annual car allowance in the amount of $10,000,
        payable in equal monthly installments.  The car allowance will be included in Executive's first pay check of each month, and will be treated as taxable income to Executive, subject to normal
        payroll withholding.

     

    

           (d)     Business
        Expenses. The Bank will reimburse Executive for reasonable, ordinary, documented, and necessary business expenses

      incurred by Executive in performing his duties in accordance with the Bank's expense reimbursement policy. Any reimbursements that may create
        taxable income to Executive must be submitted for reimbursement as soon as practicable and will be paid in no event later than the 74th day after the end of Bank's taxable year in which the expenses are incurred.

     

      

                  (e)        Vacation and Holidays.  In addition to paid holidays under the Bank's policies applicable to employees generally, Executive is entitled to paid vacation time in accordance with the
        Bank's vacation policies as in effect from time to time, which currently provide Bank management with 20 days of paid vacation per year. Unless otherwise provided by the Bank's vacation policies as in effect from time to time, (i) unused vacation for any year during the Term may

      not be accumulated for use in subsequent years, and (ii) Executive is not entitled to any additional compensation for failure to use vacation time.

    

    4.            Bonuses.

    

                    (a)         Change in Control Payment.

      

      

                                 (i)      If a Change in Control (as is defined below) of the Bank occurs during the Term and if Executive has a Termination of Employment because (A) Executive voluntarily terminates his
        employment with the Bank as of a date within 60 to 90 days after the Change in Control, (B) Executive's employment with the Bank is terminated by the Bank without Cause within two years after the Change in Control, or (C) Executive voluntarily
        terminates his employment with the Bank for Good Reason within two years of a Change in Control; then in each case if, and only if, Executive resigns as an officer and director of both the Bank and the Holding Company and agrees not to file any
        administrative charge or lawsuit relating to Executive's prior employment with the Bank and agrees to release Bank and all of its then current and former directors, trustees, officers, employees, agents, members, and affiliated companies from any
        and all claims, in an agreement in such form as is determined by the Bank, which agreement is not revoked if allowed by its terms, the Bank shall make a "Change in Control Payment" as provided below . Executive must execute and deliver the release
        agreement to the Bank on the date set by the Bank, which shall be no later than 60 days following Executive's Termination of Employment, and the release will be delivered by the Bank to the Executive at least 21 days before the deadline set for its
        return.

       

      

       

      

       

      

      
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                                (ii)      For purposes of the timing of payments

        under the Agreement, "Termination of Employment" shall mean the date the Executive and the Bank reasonably anticipate that (A) Executive will not perform any further services for the Bank or any other entity considered a single employer with the Bank under Section 414(b) or (c) of the Internal Revenue Code of 1986, as amended ("Code") (but
          substituting 50% for 80% in the application thereof) (the "Employer Group" ), or (B) the level of bona fide services Executive will perform for the Employer Group after that date will permanently decrease to less than 20% of the average level of bona fide services performed over the previous 36 months (or if shorter over the duration

          of service). For this purpose, service performed
          as an employee or as an independent contractor is counted, except that service as a member of the Board of an Employer Group entity is not counted unless termination benefits under this Agreement are aggregated with benefits

          under any other Employer Group plan or agreement
          in which Executive also participates as a director. Executive will not be treated as having a termination of his employment while he or she is on military leave, sick leave or other bona fide leave of absence if the leave does not exceed six months or, if longer, the period during which Executive has a reemployment right under statute or contract. If a bona fide leave of absence extends beyond six months, Executive's employment will be

          considered to terminate on the first day after the

        end of such six-month period, or on the day after Executive's statutory

          or contractual reemployment right lapses, if later. The Bank will determine when Executive's Date of Termination occurs based on all relevant facts and circumstances, in accordance with Treasury Regulation Section l.409A-l (h).

       

        

                               (iii)    For this purpose, termination by the
        Bank for "Cause"
        shall mean termination on account of (A) the willful and continued failure by Executive to substantially perform his duties with the Bank after written demand for substantial performance has been delivered to Executive by the Bank and Executive has been given a reasonable opportunity for cure; or (B) the willful engaging
        by Executive in gross misconduct materially and demonstrably injurious to the Bank or its reputation; (C) breach of fiduciary duty involving
          personal  profit;  or (D) material violation of any law, rule or regulation other
          than traffic violations or similar offenses. For purposes of this definition, no act, or failure to act, on Executive's part shall be considered
          "willful" unless done, or admitted to be done, by Executive not in good faith and without reasonably belief that Executive's action or omission was in the best interest of the Bank.
      

       

        

      

                                 (iv)    Termination by Executive for "Good Reason" means Executive's Termination of Employment due to his resignation from the Bank no more than 60 days after (A) the Bank reduces or changes Executive's duties to those which are clearly not consistent with executive status; (B) the Bank requires Executive  to change  his principal  work  location  by at least 30 miles and
          Executive refuses to make such move; or (C) the Bank reduces Executive's base salary, in each case which condition is not cured within 30 days after  Executive  has delivered written notice of such condition to the Employer. In each case, Executive must give the Bank notice of the condition within 90 days

        of the initial existence of the condition, or any termination will not be considered to be for Good Reason.

       

        

                                 (v)      The "Change in
          Control Payment" will equal 2 times the average
          of the Executive's total taxable compensation from the Bank includable in taxable income for the five calendar years preceding the date of the Change in Control, determined in a manner consistent with Section 280G of the Code, subject to the maximum
          payment provisions below.  The Change 

       

        

       

        

      
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      in Control Payment shall be made in a lump sum in cash 30 days after the date of Termination of Employment triggering the payment. This payment shall not

        reduce or offset any other pay or benefits then due or owing Executive, and no reduction shall be made on account of future employment.

       

      

                               (vi)     For all purposes of this Agreement, a "Change in Control" of the Bank means: (A) an event or series of events which have the effect of any "person" as such  term is used  in  Section  13(d)  and  14(d)  of  the  Securities  Exchange  Act  of  1934,  as  amended  (the "Exchange Act"), other than any trustee or other fiduciary holding securities of the Bank under any employee benefit plan of the Bank, becoming the "beneficial owner" as defined in Rule 13d-3 under  the Exchange  Act, directly or indirectly,  of securities of  Bank  representing  50% or  more  of the combined voting power of the Bank's then outstanding stock ; (B) during any period of two consecutive years, individuals

        who at the beginning of such  period  constitute  the  Board  of  the Bank cease for any  reason  to constitute a  majority  thereof,  unless

        the election,  or  the  nomination for

        election by the stockholders, of each new director was approved  by  either  the  Holding  Company or by a vote of at least two-thirds of the Bank's directors then still in office who
          were directors at the beginning of the period; (C) the business of the Bank is disposed
        of pursuant to a  partial or complete liquidation, sale of assets, or otherwise.

       

        

       

        

                               (vii)     In no event shall any amount payable under any provision of this Agreement equal or exceed an amount which would cause the Bank to forfeit, pursuant to Code Section
          280G(a), its deduction for any or all such amounts payable. Pursuant to this Section the Bank shall reduce severance benefits payable under this Agreement, if such benefits alone or in conjunction with termination benefits provided under other Bank plans or agreements
        between Executive and the Bank, would cause the Bank to forfeit otherwise deductible payments; provided, however that no benefits payable under this Agreement shall be reduced  pursuant to this Section to less
          than $ l.00 below the amount of benefits which Bank can properly deduct under Code Section 280G(a). 

       

        

    

    

                             (viii)     Notwithstanding any other provision of this Agreement to the contrary, any payments made to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Section l8(k) of the FDIA (12 U.S.C. §1828(k)) and 12C.F.R. Part 359. No Change in Control Payment will be made to Executive under this Agreement
        unless the Federal Deposit Insurance Corporation
        (the "FDIC") and the Office of the Comptroller of the Currency (the "OCC") provide any necessary approvals of the Change in Control Payment prior to it being paid.

     

      

               (b)         Discretionary Bonuses. The Board, in its sole discretion, may develop a
        bonus program which includes Executive and awards Executive additional bonuses
        from time to time in amounts that it determines proper. For avoidance of doubt, the Board has no obligation to award any additional bonuses to Executive. 

     

      

  

  

              (c)         Forfeiture; Clawback. If, prior to payment of any Change in Control  Payment or bonus to Executive, it  is  determined  that  Executive  (A)  committed  any  fraudulent  act  or omission , breach of trust or fiduciary  duty, or  insider  abuse with  regard  to the Bank  that  has had  or is likely to have a material adverse effect on the Bank, (B) is substantially responsible for the insolvency  of,  the  appointment  of  a  conservator  or  receiver  for,  or  the  troubled  condition,  as 

  

   

    

   

    

  
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  defined by applicable regulations of the appropriate federal banking agency, of the  Bank,  (C)  has materially violated  any  applicable  federal  or  state  banking 

      law  or  regulation  that  has  had  or  is  likely  to 

    have  a  material  effect  on  the  Bank,  or  (D)  has  violated  or  conspired  to  violate 

    Sections 215, 656, 657, 1005, 1006, 1007, 1014, 1032, or 1344 of title 18 of the United States Code, or Sections 1341 or 1343 of such title affecting the Bank, then Executive will  automatically  and immediately forfeit any right to be  paid  such  Change  in  Control  Payment  or  bonus .  If,  after  a  Change  in  Control  Payment  or  bonus  is  paid  to  Executive,   the  Board 
      determines   in  good   faith that any of the
      matters  set  forth  in  clauses  (A)  through  (D)  of  this Section  apply  to  the  Executive, then the
      Executive must promptly  (and  in  any  event,  within  10  business  days  following  written

      notice  to  Executive)  return  to  the  Bank  an  amount  equal  to   the  Change  in  Control   Payment  and/or  bonus  in  immediately  available funds.

   

    

  5.       Termination.

  
    

    

              (a)          Events of Termination. Notwithstanding any other provision of this Agreement to the contrary, this Agreement and Executive's employment with the Bank will terminate immediately upon the first of the following
        events to occur:

                            (i)      Executive's death or Disability (unless, in the
      case of Disability, waived by the Bank);

    

    

                            (ii)     30 days after Executive gives notice of his voluntary termination of his employment for any reason (unless such notice or 30-day period is waived by the Bank); or

    

    

                            (iii)    termination by the Bank
        for Cause, as defined in Section 4(a)(iii).

    

    

             (b)          Effect of Termination. Upon termination of Executive's employment pursuant to this Section 5, Executive will be
      entitled to his Base Salary and benefits through the date of termination and will be entitled to no additional compensation or benefits. In addition, if Executive is terminated for any reason, Executive must resign from all offices Executive holds with the Bank and its affiliates.

    

    

             (c)          Disability. "Disability" means Executive's inability (as determined by a physician appointed by the
        Bank) due to accident or physical or mental illness, to adequately and fully perform the duties that Executive was performing for Executive when the disability began, with the reasonable expectation
        that such inability will continue for at least 180
        days notwithstanding any reasonable accommodation
      required by state or federal disability anti-discrimination laws. If at any time during the
        Term the physician appointed by the Bank makes a determination with respect to Executive's Disability, that determination shall be final, conclusive, and binding upon
        the Bank, Executive, and their successors
        in interest.

    

    

    6.       Nonsolicitation; Confidentiality

    

    

              (a)        Confidentiality.

    

    

                          (i)        General. Executive acknowledges that the Bank continually develops Confidential
      Information, that Executive may develop Confidential Information for the Bank, 

     

    

     

    

     

    

    
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    and that Executive may learn of Confidential Information during the course of his employment. Executive will comply with the policies and procedures of the Bank for protecting Confidential
      Information and may never disclose  to  any person  (except  as  required  by  applicable  law or  for the proper performance of his duties and responsibilities), or use for his own benefit or  gain,  or otherwise use in a manner adverse to the
      interests of the Protected Parties, any Confidential Information obtained by Executive incident to  his  employment  or  other  association  with  the Bank. Executive understands that this restriction will continue to apply after his employment
      terminates, regardless of the reason for such termination.

    

    

                        (ii)       Return of Documents.  All documents,  records,  tapes,  or  other media of every  kind  and  description 

      containing  Confidential  Information or otherwise relating to the business, present  or otherwise, of  the  Protected  Parties,  and  any  copies,  in whole or in part, thereof ("Documents"), whether or not prepared by Executive, and any and all  equipment  or other  tangible  personal  property 
        provided   by  the  Bank  for   Executive's use  ("Company Property"), is  the  sole  and  exclusive  property  of  the  Bank.  Executive must safeguard all Documents and Company Property, and must surrender to the Bank at the time his employment terminates, or at such earlier time(s) as the Board or its designee may specify, all Documents and all Company Property then in Executive's possession or
        control.

    

    

                        (iii)     Confidential Information. "Confidential Information" means any and all information of the Protected Parties that is not generally known by the public, that is proprietary, or that would reasonably be considered
      confidential. Without limiting the  generality  of  the
        foregoing , Confidential Information includes, but is not limited to, information relating to (A) the services or products sold or offered by the Protected  Parties,  (B)  the  costs ,  sources  of  supply, financial performance and strategic plans of the  Protected  Parties,  (C)  the  identity  and  special needs of the customers of the Protected 
        Parties, and (D) the people and organizations  with whom  the Protected  Parties  have  business  relationships,  and  the  nature  of  those  relationships. Confidential Information also includes comparable information that the Protected Parties have received belonging to others, or that was received by a Protected Party with an understanding that it would not be disclosed.

    

    

                        (iv)     Protected Parties. "Protected Parties" means the Bank, the Holding Company, their affiliates, and any direct or indirect subsidiaries thereof.
       

        

    

     

            (b)        Nonsolicitation. During the Term
        and for a two-year period following the termination of Executive's employment for any reason (the "Restricted Period"), Executive agrees that he will not directly or indirectly, whether for his own account or that of any other person or entity, attempt to or actually do any of the following: 

     

    

    

    

    

                        (i)       solicit, divert, or accept any portion of the business of any Customer of a Protected Party with respect to any product or service that is the same as, similar to, a substitute for, or competitive with any product or service offered by such Protected Parties; 

     

    

    

                        (ii)      induce any Customer of a Protected Party to cease doing business with such Protected Party or to reduce
        the volume of business they do with such Protected Party;

     

      

     

      

    
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                        (iii)     provide any advice to or otherwise induce a Customer of a Protected Party to cease doing business with such Protected Party or to reduce the volume of
        business it does with such Protected Party; 

     

    

     

                        (iv)     in any other way interfere with a Protected Party’s business or the relationship between a Protected Party and
        any other person or entity;

     

      

     

                        (v)      in any manner recruit, solicit, induce, entice, or persuade any Employee of a Protected Party to terminate
        or change the Employee's employment or other relationship with such Protected
      Party or discuss the prospect of an Employee of a Protected Party leaving or changing employment with such Protected Party; or 

     

    

                        (vi)     hire, or induce the hiring of any Employee of a Protected Party.

     

      

     

    For purposes of this Section
        6(b) and Section 6(c), (x) the term "Customer" means any person or entity that is, or was within the one-year period immediately prior to the termination of Executive's employment, an actual or prospective customer or client of a Protected Party; and (y) the term " Employee" means any person or entity that is, or was during the Term, an employee, independent contractor, director, officer, or agent of a Protected Party or any person or

        entity whose engagement as an employee , independent contractor, director, officer, or agent of a Protected Party ended during the Term or the six-month period immediately following Executive's termination. 

     

             (c)         No Competition. Executive agrees that during the Term and the Restricted Period, he will not:

    

    

     

                        (i)      directly or indirectly, individually or as
        a consultant, employee, officer. director, stockholder, partner or other owner or participant in any entity or venture other than the Bank, accept any position
        or perform any services for a Competitor in any Indiana County in which the Bank then has an office or branch or any Indiana County
        adjacent to a County where the Bank has a branch; or 

     

      

    

                          (ii)     seek or accept employment with a
        Customer of the Bank for the performance, management, or supervision of services that might otherwise be provided by the Bank in any Indiana County in which the Bank then has an office or branch or any Indiana County
        adjacent to a County where the Bank has a branch.

     

     

     

      

           For purposes of this Section 6(c), the term "Competitor " means any entity or venture other than the Bank that competes with any business in which the Bank or its affiliates
        is engaging or in which the Bank or such affiliates plan to engage. 

    

    

           (d)        Tolling of Restricted Period.  If Executive violates any of the restrictive covenants in Sections 6(b) or (c), then the Restricted Period will be tolled or will not begin to run, as the case may
        be, until the date on which Executive ceases to be in violation of such covenant. 

     

    

    

           (e)         Non-Disparagement. Executive agrees and covenants that he will not at any time make, publish, or communicate to any person or entity or in any public forum any defamatory or 

     

      

     

      

    
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    disparaging remarks, comments, or statements concerning any Protected Party, its businesses, or any of its employees, officers, existing and prospective customers, suppliers, investors, and other associated  third parties. 

     

      

           (f)         Exceptions. Nothing
      in this Section 6 prohibits Executive from purchasing or owning less than five percent (5%) of the publicly traded securities of any entity, but only if such ownership represents a passive investment and that Executive is not a controlling person of, or a member of a group that controls, such entity. In addition, this Section 6 does not, in any way, restrict or impede Executive from (i) exercising protected rights  to  the  extent  that  such  rights cannot be waived by agreement or (ii) complying with any applicable law or regulation or a valid order of a court of competent jurisdiction  or  an authorized  government  agency,  provided  that such compliance does not exceed that required by the law, regulation, or order. Executive must promptly provide written notice of any such compliance to the Bank.

     

      

     

           (g)         Equitable Remedies. Executive acknowledges that the restrictions contained in this Section 6, in view of the nature of the business in which the Bank is engaged, are reasonable and necessary
      in order to protect the legitimate business interests of the Bank and its affiliates. The Bank and Executive acknowledge and agree that any breach or threatened breach of the provisions of
        this Section 6 would cause irreparable injury and that a remedy at law would be inadequate. Therefore, in the event of a breach or a threatened  breach  by  Executive  of  any provision of this Section 6, the Bank is entitled to an  injunction or other equitable  relief  in any  court of competent jurisdiction restraining Executive from the  commission  of  such breach without any bond or other security being required and without the necessity of showing actual damages,  and to  recover  its  attorneys'  fees,  costs,  and  expenses  related  to  the breach  or threatened breach. Nothing contained herein should be construed as prohibiting the Bank from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of money damages. The covenants and disclosures in this Agreement must
        be construed as independent of any other provisions in this Agreement, and the existence of any claim or cause of action by Executive against the Bank, whether predicated on this Agreement or otherwise does not constitute a defense to the enforcement by the Bank of such covenants and agreements.

     

      

    7.      Miscellaneous

     

      

     

     

             (a)         No Conflicts. Executive represents and warrants that (i) entering into and performing under this Agreement will not violate any contract to which Executive is a party; (ii) Executive is not party to any contract or subject to any restrictions that would impair his ability to fully perform under this Agreement; (iii) entering into and performing under this Agreement will not breach or give rise to any cause of action against Executive or the Bank under the terms of any contract to which he is a party; (iv) Executive has disclosed to the Bank any restrictive covenants (including noncompetition, nonsolicitation, and confidentiality) applicable to him under any contract to which he is or
        was a party. 

     

    

    

     

             (b)          Assignment. The services to be rendered by Executive under this Agreement are unique and personal, and Executive may not assign any of Executive's rights or delegate any of Executive's duties under this Agreement. Except as provided in the immediately preceding sentence, this Agreement shall benefit Executive and Executive's heirs and personal 

     

      

     

      

    
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    representatives. The Bank may freely assign its obligations hereunder to any affiliate or any entity into which the Bank merges or consolidates or to
      which the Bank transfers all or substantially all of
      its assets. 

     

    

    

             (c)           Severability. The provisions of this
      Agreement are severable.  If any  provision  of  this Agreement or application  thereof  is  determined  by  a  court  of  competent  jurisdiction  to  be invalid, illegal, or otherwise unenforceable (in whole or in part), the validity, legality, or enforceability
        of all other applications  of  that  provision,  and  of  all  other  provisions  and applications of this
        Agreement, will not in any way be affected. Such invalid, illegal, or unenforceable provision or application will be deemed not to be a part of this Agreement, and this
        Agreement will then be enforced to the maximum extent allowed by applicable law. If any provision of this Agreement is invalid in part or in whole, it will be deemed to have been amended, whether as to time, area covered or otherwise, as and to the
        extent required for its validity under applicable
        law and, as so amended, will be enforceable. 

     

    

    

           (d)          Notices. Any notice or consent required or permitted hereunder shall be deemed
      to have been given when hand-delivered , three business days after mailing by certified mail, postage prepaid and return-receipt requested, one
        business day after mailing by a recognized overnight carrier, or upon confirmation of delivery by electronic mail, in each case to the intended recipient at the following address (or at such other address as either party may  notify  the other):

     

    

    

     

    If to the Bank:

    Dana Dunbar

    Chairman of the Board of Directors

     

      

    Mid-Southern Savings Bank, FSB 300 N. Water Street

    PO Box 545

    Salem, Indiana 47167

     

      

    With a copy (which does not constitute notice) to: Attn:  R.
        James Straus

    Frost Brown Todd LLC

    400 West Market Street, Suite 3200 Louisville, Kentucky 40202

    

    

    

    

    If to Executive:

    

    

    Alexander G. Babey

    3690 E Hwy 146

    LaGrange, Ky 40031

     

    

     

    

    
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              (e)          Governing Law: Venue: Consent to Jurisdiction. This Agreement shall be construed and enforced in accordance with the laws of the State of Indiana without regard to its conflicts of laws principles to the extent they would require or permit the application of the laws of any other jurisdiction. Subject to Section 6(g), each of the parties irrevocably agrees that any legal action or proceeding arising out of or in connection with this Agreement  may  be brought and determined in any Indiana state or federal court
        located in  (or  nearest  to)  Washington County, Indiana
      (or if such court lacks subject matter jurisdiction, in any appropriate  Indiana  state or federal court), and each of the parties irrevocably submits to the nonexclusive personal jurisdiction of the aforesaid courts, generally and unconditionally, with regard to any such action or proceeding
        arising out of or in connection with this Agreement. Each of the parties further agrees to accept service of process in any manner permitted by such courts. Each of the parties hereby irrevocably and unconditionally waives, and
        agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or in connection with this Agreement,
      (a) any claim that it is not personally subject to the jurisdiction of the above-named  courts for any reason other than the failure
      lawfully to serve process, (b) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in any such court (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) to the fullest extent permitted by law, that (i) the suit, action or proceeding in any such court is brought in an inconvenient forum, (ii) the venue or forum of such suit, action or proceeding is improper 
        or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by any such court. 

     

      

    

                (f)           Non-Waiver. A waiver of any provision of this Agreement must be in writing, and no such waiver will constitute a waiver of any other provision of this Agreement, whether or
      not similar. No failure to enforce any provision of this Agreement may be treated as or deemed a waiver of such provision. No waiver or consent will constitute a continuing waiver or consent or commit any party to provide a waiver in the future except to the extent specifically set forth in writing.

     

      

    

               (g)          Entire Agreement. This Agreement constitutes the entire understanding and agreement between, and supersedes all other agreements, understandings and communications between the Bank or any of its affiliates and Executive. There are no other agreements, conditions or representations, oral or written, expressed or implied with regard thereto. This Agreement may be amended only in writing, signed by both
        parties.

     

     

    

    

            (h)          Headings. The headings in this Agreement

        have been inserted solely for convenience of reference and shall not be considered in the interpretation or construction of this Agreement.

     

      

              (i)          Construction of Terms: Pronouns
        and Number. For avoidance of doubt, references in this Agreement to Executive's termination of employment include a termination by the Bank, Executive's resignation, the end of Executive's employment due to nonrenewal of this Agreement, or any other event that causes
        Executive's employment to end pursuant to the terms of this Agreement. Wherever from the context it appears appropriate, each term stated in either the singular or the plural includes the singular and the plural, and pronouns stated
        in either the masculine, feminine, or neuter gender includes the masculine, feminine, and neuter gender.

     

      

     

      

    
      10

      
        

    

     

      

     

     

     

               (j)          Counterparts. This Agreement may be executed any number of counterparts, each of which is deemed an
        original but all of which together constitute one and the same instrument. This Agreement may be executed and delivered by facsimile or other electronic transmission. 

    

                 (k)          Payments. All amounts payable under this Agreement shall be
      subject to such deductions and withholdings as the Bank reasonably determines should be withheld pursuant to any applicable law
        or regulation.

     

     

      

               (l)           Survival. All provisions of this Agreement that by their nature should survive any expiration or termination of this Agreement will so survive, including without limitation the
        restrictive covenants contained in Section 6. 

    

    

               (m)         Tax Matters. 

     

    

     

                            (i)        Intent to Comply. Executive and the Bank agree and confirm that this Agreement is intended by both parties to provide for compensation that is exempt from Code Section
        409A as a short-term deferral or that does not constitute "deferred compensation" within the meaning of Code Section 409A. This Agreement shall be interpreted, construed, and administered in accordance with this agreed intent; provided that
      the Bank does not promise or warrant any tax treatment of compensation hereunder.
        Executive is responsible for obtaining advice regarding all questions
      as to federal, state, local income, estate, payroll, or other tax
        consequences arising under this Agreement. In the event provisions of this Agreement
        do not comply with Code Section 409A, Executive and the Bank agree to use reasonable

        business efforts to amend this Agreement as necessary to bring it into compliance with Code Section 409A while,
      to the largest extent possible, maintaining the economic interests hereunder of both parties. This Agreement shall not be amended or terminated
        in a manner that would accelerate or delay payments except
      as permitted under Treasury Regulations under Code Section 409A. 

     

      

    

                              (ii)      Specified Employee. Notwithstanding anything in this Agreement to the contrary, if Executive is a "specified  employee"  within  the  meaning  of 
      Treasury  Regulation Section 1.409A- I(i) (or any successor thereto) on Executive's termination of employment, any payments hereunder triggered by Executive's termination  of  employment  and  that  are  not separation pay under Treasury
        Regulations Section l.409A-l (b)(9), short-term deferral pay, or otherwise exempt from
      Code Section 409A, shall not begin to be paid until the earlier to occur of Executive's death or the date that is six months and one day after Executive's termination of employment , and at that time, Executive will receive in one lump  sum  payment  all  of  the  severance payment that would have been paid to Executive during the first six months following Executive's termination of employment. The Bank will determine, consistent with any guidance issued under Code Section 409A, the portion of severance payments that are required to be delayed, if any.

     

      

    

    

    [Remainder of page intentionally left blank; signature page follows]

    

    

    

    

    

    

    
      11

      
        

    

    

    

    

    IN WITNESS WHEREOF, and intending to be legally bound hereby, Executive and the Bank have executed this

      Agreement as of the date first set forth above.

    

    

    

    

    /s/Alexander G. Babey                                             

    Alexander G. Babey

    

    

    

    MID-SOUTHERN SAVINGS BANK, FSB

    

    

    

    

    
      

      

      By: /s/Dana Dunbar                                                 

      

    

           Dana Dunbar, Chairman

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    Signature Page to Alexander G. Babey Executive Employment Agreement

     

      

     

      

    
      12

      
        

    

     

    

    
      
        AMENDMENT TO EMPLOYMENT AGREEMENT

        WHEREAS, Alexander G. Babey and Mid-Southern Savings Bank, FSB are parties to an employment agreement dated October 1, 2016 (the “Agreement”); and

        WHEREAS, Mid-Southern, M.H.C. is undertaking a the second step conversion from mutual to stock form, which necessitates the amendment of the change in
          control provision contained in Section 4 of the Agreement; and

        WHEREAS, the Agreement may be amended by a writing signed by both parties.

        Accordingly, the parties agree as follows:

        1. Section 4(a)(vi) should be revised to read as follows, to be
          effective immediately prior to the second step conversion:

        (vi) For all purposes of this Agreement, a "Change in Control" of the Bank means (A) an event or series of events that have the effect of any "person" as such term is used
          in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), other than any trustee or other fiduciary holding securities of the Company under
          any employee benefit plan of the Company or the Bank, becoming the "beneficial owner" as defined in Rule 13d-3 under the Exchange Act, directly or indirectly, of securities of the Company or the Bank representing 50% or more of the combined
          voting power of the Bank’s then-outstanding stock; (B) during any period of two consecutive years, individuals who at the beginning of such period constitute the board of directors of the Company cease for any reason to constitute a majority
          thereof, unless the election, or the nomination for election by the stockholders, of each new Company director was approved by the vote of at least two-thirds of the Company’s directors then still in office who were Company directors at the
          beginning of the period; or (C) the shareholders of the Company approving a definitive agreement to merge or consolidate the Company with or into another company (other than a merger or consolidation that would result in the holders of voting
          securities of the Company outstanding immediately prior to such transaction continuing to hold (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of
          the voting securities of the Company or such surviving entity outstanding immediately after such transaction) or to sell or otherwise transfer all or substantially all of the Company's assets or to adopt a plan of liquidation.  Notwithstanding
          the foregoing, the term "Change in Control" shall not include a second step conversion where Mid-Southern, M.H.C. converts from mutual to stock form in connection with a second step
          conversion where shares of Mid-Southern Bancorp are sold to the public and such shares are also issued in an exchange offering to existing stockholders of the Bank.

         

        

        2. Any provision of the Agreement inconsistent with the
          foregoing amendment shall be deemed amended to be consistent therewith, and the Agreement shall be interpreted accordingly.

        

        

        
          
            

        

        

        

        IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties have executed this amendment to the Agreement as of the date
          set forth above.

         

        

        EXECUTIVE

        

        

        /s/Alexander G. Babey                                  

        

        Alexander G. Babey

        

        

        MID-SOUTHERN SAVINGS BANK, FSB

        

        

        By:  /s/Dana J. Dunbar                                  

        

                Dana J. Dunbar, Chairman 

         

          

         

          

        
          

          

          

          

          
            
              

          

          

          FIRST AMENDMENT

          EXECUTIVE EMPLOYMENT AGREEMENT 

             

          

                      This is the First Amendment (the “Amendment”) dated as of February 1, 2018 to the Executive
            Employment Agreement dated as of October 1, 2016 (the “Agreement”) between Mid-Southern Savings Bank, FSB (the “Bank”) and Alexander G. Babey (“Executive”).

                       1.         The Agreement is hereby amended so that the “Effective Date” as that term is used in the Agreement is February 1, 2018. 
            Unless earlier terminated pursuant to Section 5 of the Agreement, the initial term of the Agreement begins on the new Effective Date and ends on the three-year anniversary of the new Effective Date.

                       2.           All other terms of the Agreement remain in full force and effect.

                  
                      IN WITNESS WHEREOF, and intending to be legally bound hereby, Executive and the Bank have
            executed this Amendment as of February 1, 2018.

           

           

           

          /s/Alexander G. Babey                                          

          

          Alexander G. Babey

           

          

          MID-SOUTHERN SAVINGS BANK, FSB

           

          By:/s/Dana J. Dunbar                                           

          

                Dana J. Dunbar, ChairmanExhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (the “Agreement”), dated as of August 9, 2019, by and between BLOX, INC., a Nevada
corporation, with headquarters located at 1177 Avenue of the Americas, 5th Floor, New York, NY 10036 (the
“Company”), and FIRSTFIRE GLOBAL OPPORTUNITIES FUND, LLC, a Delaware limited liability company, with its
address at 1040 First Avenue, Suite 190, New York, NY 10022 (the “Buyer”).

 

WHEREAS:

 

A. The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”) and Rule 506(b) promulgated
by the United States Securities and Exchange Commission (the “SEC”) under the 1933 Act;

 

B. Buyer
desires to purchase from the Company, and the Company desires to issue and sell to the Buyer, upon the terms and conditions set
forth in this Agreement, a Senior Convertible Promissory Note of the Company, in the aggregate principal amount of $75,000.00
(as the principal amount thereof may be increased pursuant to the terms thereof, and together with any note(s) issued in replacement
thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, in the form attached
hereto as Exhibit A, the “Note”), convertible into shares of common stock, $0.00001 par value per share, of
the Company (the “Common Stock”), upon the terms and subject to the limitations and conditions set forth in such Note;

 

C. The
Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of the Note as is set
forth immediately below its name on the signature pages hereto;

 

D. The
Company wishes to issue a common stock purchase warrant to purchase 555,555 shares of Common Stock (the “Warrant”)
and the Commitment Shares (as defined below) to the Buyer as additional consideration for the purchase of the Note, as further
provided herein.

 

NOW
THEREFORE, in consideration of the foregoing and of the agreements and covenants herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Buyer hereby agree as
follows:

 

 1. Purchase and Sale of Note.

 

a. Purchase
of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer, and the Buyer agrees to purchase
from the Company, the Note and Warrant, as further provided herein. In connection with the funding of the Note, the Company shall
issue to Buyer on the Closing Date, as a commitment fee, the Warrant and 150,000 shares of the Company’s common stock (the
“Commitment Shares”). The Commitment Shares shall be deemed earned in full as of the Closing Date.

 

b. Form
of Payment. On the Closing Date: (i) the Buyer shall pay the purchase price of $67,500.00 (the “Purchase
Price”) for the Note, to be issued and sold to it at the Closing (as defined below), by wire transfer of immediately
available funds to the Company, in accordance with the Company’s written wiring instructions, against delivery of the
Note, and (ii) the Company shall deliver such duly executed Note and Warrant on behalf of the Company, to the Buyer, against
delivery of such Purchase Price.

 

c. Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7 below,
the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be 4:00
PM, Eastern Time on the date first written above, or such other mutually agreed upon time.

 

    1

     

    

 

d. Closing.
The closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at
such location as may be agreed to by the parties (including via exchange of electronic signatures).

 

1A. Warrant
and Commitment Shares. On or before the Closing Date, the Company shall issue the Warrant and Commitment Shares to the
Buyer pursuant to the terms of contained therein.

 

2. Buyer’s
Representations and Warranties. The Buyer represents and warrants to the Company as of the Closing Date that:

 

a. Investment
Purpose. As of the Closing Date, the Buyer is purchasing the Note, the Warrant, and the shares of Common Stock issuable upon
conversion of or otherwise pursuant to the Note and such additional shares of Common Stock, if any, as are issuable on account
of interest on the Note pursuant to this Agreement and/or upon exercise of the Warrant, such shares of Common Stock being collectively
referred to herein as the “Conversion Shares” and, collectively with the Note, Warrant, and Commitment Shares, the
“Securities”) for its own account and not with a present view towards the public sale or distribution thereof, except
pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by making
the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or other specific term and
reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption
under the 1933 Act.

 

b. Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D
(an “Accredited Investor”).

 

c. Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of
the Buyer to acquire the Securities.

 

d. Information.
The Buyer and its advisors, if any, have been, and for so long as the Note remains outstanding will continue to be, furnished
with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale
of the Securities which have been requested by the Buyer or its advisors. The Buyer and its advisors, if any, have been, and for
so long as the Note remains outstanding will continue to be, afforded the opportunity to ask questions of the Company regarding
its business and affairs. Notwithstanding the foregoing, the Company has not disclosed to the Buyer any material nonpublic information
regarding the Company or otherwise and will not disclose such information unless such information is disclosed to the public prior
to or promptly following such disclosure to the Buyer. Neither such inquiries nor any other due diligence investigation conducted
by Buyer or any of its advisors or representatives shall modify, amend or affect Buyer’s right to rely on the Company’s
representations and warranties contained in Section 3 below.

 

e. Governmental
Review. The Buyer understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities.

 

f. Transfer
or Re-sale. The Buyer understands that (i) the sale or resale of the Securities has not been and is not being registered
under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a)
the Securities are sold pursuant to an effective registration statement under the 1933 Act, (b) the Buyer shall have
delivered to the Company, at the cost of the Company, an opinion of counsel (which may be the Legal Counsel Opinion (as
defined below)) that shall be in form, substance and scope customary for opinions of counsel in comparable transactions to
the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such
registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to an
“affiliate” (as defined in Rule 144 promulgated under the 1933 Act (or a successor rule) (“Rule
144”)) of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f)
and who is an Accredited Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant
to Regulation S under the 1933 Act (or a successor rule) (“Regulation S”), and the Buyer shall have delivered to
the Company, at the cost of the Company, an opinion of counsel that shall be in form, substance and scope customary for
opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such
Securities made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule
is not applicable, any re-sale of such Securities under circumstances in which the seller (or the person through whom the
sale is made) may be deemed to be an underwriter (as that term is defined in the 1933 Act) may require compliance with
some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor
any other person is under any obligation to register such Securities under the 1933 Act or any state securities laws or to
comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything
else contained herein to the contrary, the Securities may be pledged in connection with a bona fide margin account or
other lending arrangement secured by the Securities, and such pledge of Securities shall not be deemed to be a transfer, sale
or assignment of the Securities hereunder, and the Buyer in effecting such pledge of Securities shall be not required to
provide the Company with any notice thereof or otherwise make any delivery to the Company pursuant to this Agreement or
otherwise.

 

    2

     

    

 

g.
Legends. The Buyer understands that until such time as the Note, Warrant, and, upon conversion of the Note and/or
exercise of the Warrant in accordance with its respective terms, the Conversion Shares, have been registered under the 1933 Act
or may be sold pursuant to Rule 144, Rule 144A under the 1933 Act or Regulation S without any restriction as to the number of
securities as of a particular date that can then be immediately sold, the Securities may bear a restrictive legend in substantially
the following form (and a stop- transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE [CONVERTIBLE/EXERCISABLE]
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A
OR REGULATION S UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Company shall issue a certificate for the applicable shares of Common Stock without
such legend to the holder of any Security upon which it is stamped or (as requested by such holder) issue the applicable shares
of Common Stock to such holder by electronic delivery by crediting the account of such holder’s broker with The Depository
Trust Company (“DTC”), if, unless otherwise required by applicable state securities laws, (a) such Security
is registered for sale under an effective registration statement filed under the 1933 Act or otherwise may be sold pursuant to
Rule 144, Rule 144A or Regulation S without any restriction as to the number of securities as of a particular date that can then
be immediately sold, or (b) the Company or the Buyer provides the Legal Counsel Opinion (as contemplated by and in accordance
with Section 4(m) hereof) to the effect that a public sale or transfer of such Security may be made without registration under
the 1933 Act, which opinion shall be accepted by the Company so that the sale or transfer is effected. The Company shall be responsible
for the fees of its transfer agent and all DTC fees associated with any such issuance. The Buyer agrees to sell all Securities,
including those represented by a certificate(s) from which the legend has been removed, in compliance with applicable prospectus
delivery requirements, if any. In the event that the Company does not accept the opinion of counsel provided by the Buyer with
respect to the transfer of Securities pursuant to an exemption from registration, such as Rule 144, Rule 144A or Regulation S,
at the Deadline (as defined in the Note), it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

h.
Authorization; Enforcement. This Agreement has been duly and validly authorized by the Buyer and has been duly executed
and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in
accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting creditors’ rights generally and except as may be limited by the exercise of judicial discretion in
applying principles of equity.

 

    3

     

    

 

i.
Residency. The Buyer is a resident of the jurisdiction set forth immediately below the Buyer’s name on the signature
pages hereto.

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the Buyer as of the Closing Date
that:

 

a.
Organization and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly
organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with full power
and authority (corporate and other) to own, lease, use and operate its properties and to carry on its business as and where now
owned, leased, used, operated and conducted. Schedule 3(a), if attached hereto, sets forth a list of all of the Subsidiaries of
the Company and the jurisdiction in which each is incorporated. The Company and each of its Subsidiaries is duly qualified as
a foreign corporation to do business and is in good standing in every jurisdiction in which its ownership or use of property or
the nature of the business conducted by it makes such qualification necessary except where the failure to be so qualified or in
good standing would not have a Material Adverse Effect. “Material Adverse Effect” means any material adverse effect
on the business, operations, assets, financial condition or prospects of the Company or its Subsidiaries, if any, taken as a whole,
or on the transactions contemplated hereby or by the agreements or instruments to be entered into in connection herewith. “Subsidiaries”
means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly,
any equity or other ownership interest.

 

b.
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this
Agreement, the Note, and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance
with the terms hereof and thereof, (ii) the execution and delivery of this Agreement, the Warrant, the Note, and the Conversion
Shares by the Company and the consummation by it of the transactions contemplated hereby and thereby (including without limitation,
the issuance of the Note, Warrant, as well as the issuance and reservation for issuance of the Conversion Shares issuable upon
conversion of the Note and/or exercise of the Warrant) have been duly authorized by the Company’s Board of Directors and
no further consent or authorization of the Company, its Board of Directors, its shareholders, or its debt holders is required,
(iii) this Agreement and the Note (together with any other instruments executed in connection herewith or therewith) have been
duly executed and delivered by the Company by its authorized representative, and such authorized representative is the true and
official representative with authority to sign this Agreement, the Note and the other instruments documents executed in connection
herewith or therewith and bind the Company accordingly, and (iv) this Agreement constitutes, and upon execution and delivery by
the Company of the Note, each of such instruments will constitute, a legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with their terms.

 

c.
Capitalization; Governing Documents. As of August 9, 2019, the authorized capital stock of the Company consists of: 400,000,000
authorized shares of Common Stock, of which 142,822,664 shares were issued and outstanding, and 0 authorized shares of preferred
stock, of which 0 were issued and outstanding. All of such outstanding shares of capital stock of the Company and the Conversion
Shares, are, or upon issuance will be, duly authorized, validly issued, fully paid and non-assessable. No shares of capital stock
of the Company are subject to preemptive rights or any other similar rights of the shareholders of the Company or any liens or
encumbrances imposed through the actions or failure to act of the Company. As of the effective date of this Agreement, other than
as publicly announced prior to such date and reflected in the SEC filings of the Company (i) there are no outstanding options,
warrants, scrip, rights to subscribe for, puts, calls, rights of first refusal, agreements, understandings, claims or other commitments
or rights of any character whatsoever relating to, or securities or rights convertible into or exchangeable for any shares of
capital stock of the Company or any of its Subsidiaries, or arrangements by which the Company or any of its Subsidiaries is or
may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries, (ii) there are no agreements
or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of any of its or their securities
under the 1933 Act and (iii) there are no anti-dilution or price adjustment provisions contained in any security issued by the
Company (or in any agreement providing rights to security holders) that will be triggered by the issuance of any of the Securities.
The Company has furnished to the Buyer true and correct copies of the Company’s Certificate of Incorporation as in effect
on the date hereof (“Certificate of Incorporation”), the Company’s By-laws, as in effect on the date hereof
(the “By-laws”), and the terms of all securities convertible into or exercisable for Common Stock of the Company and
the material rights of the holders thereof in respect thereto.

 

    4

     

    

 

d.
Issuance of Conversion Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion
of the Note in accordance with its terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens,
claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights
of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

e.
Issuance of Warrant. The issuance of the Warrant is duly authorized and will be validly issued and free from all taxes,
liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar
rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

f.
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive effect of the Conversion
Shares to the Common Stock upon the conversion of the Note. The Company further acknowledges that its obligation to issue, upon
conversion of the Note, the Conversion Shares, in accordance with this Agreement, and the Note are absolute and unconditional
regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company.

 

g.
Ranking; No Conflicts. The Note shall be a senior debt obligation of the Company, with priority in payment and performance
over all existing and future indebtedness of the Company. The execution, delivery and performance of this Agreement and the Note
by the Company and the consummation by the Company of the transactions contemplated hereby and thereby (including, without limitation,
the issuance and reservation for issuance of the Conversion Shares) will not (i) conflict with or result in a violation of any
provision of the Certificate of Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision
of, or constitute a default (or an event which with notice or lapse of time or both could become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of, any agreement, note, evidence of indebtedness, indenture,
patent, patent license or instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a violation
of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations
of any self-regulatory organizations to which the Company or its securities is subject) applicable to the Company or any of its
Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected (except for such
conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually or in the
aggregate, have a Material Adverse Effect), or (iv) trigger any anti-dilution and/or ratchet provision contained in any other
contract in which the Company is a party thereto or any security issued by the Company. Neither the Company nor any of its Subsidiaries
is in violation of its Certificate of Incorporation, By-laws or other organizational documents and neither the Company nor any
of its Subsidiaries is in default (and no event has occurred which with notice or lapse of time or both could put the Company
or any of its Subsidiaries in default) under, and neither the Company nor any of its Subsidiaries has taken any action or failed
to take any action that would give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which the Company or any of its Subsidiaries is a party or by which any property or assets of the Company
or any of its Subsidiaries is bound or affected, except for possible defaults as would not, individually or in the aggregate,
have a Material Adverse Effect. The businesses of the Company and its Subsidiaries, if any, are not being conducted, and shall
not be conducted so long as the Buyer owns any of the Securities, in violation of any law, ordinance or regulation of any governmental
entity. Except as specifically contemplated by this Agreement and as required under the 1933 Act and any applicable state securities
laws, the Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any
court, governmental agency, regulatory agency, self-regulatory organization or stock market or any third party in order for it
to execute, deliver or perform any of its obligations under this Agreement and the Note in accordance with the terms hereof or
thereof or to issue and sell the Note in accordance with the terms hereof and, upon conversion of the Note and/or exercise of
the Warrant, issue Conversion Shares. All consents, authorizations, orders, filings and registrations which the Company is required
to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof. If the Company is
listed on the Over-the-Counter Bulletin Board, the OTCQB Market, any principal market operated by OTC Markets Group, Inc. or any
successor to such markets (collectively, the “Principal Market”), the Company is not in violation of the listing requirements
of the Principal Market and does not reasonably anticipate that the Common Stock will be delisted by the Principal Market in the
foreseeable future. The Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of
the foregoing.

 

    5

     

    

 

h.
SEC Documents; Financial Statements. The Company has timely filed all reports, schedules, forms, statements and other documents
required to be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended
(the “1934 Act”) (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial
statements and schedules thereto and documents (other than exhibits to such documents) incorporated by reference therein, being
hereinafter referred to herein as the “SEC Documents”). As of their respective dates, the SEC Documents complied in
all material respects with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable
to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. None of the statements made in any such SEC
Documents is, or has been, required to be amended or updated under applicable law (except for such statements as have been amended
or updated in subsequent filings prior the date hereof). As of their respective dates, the financial statements of the Company
included in the SEC Documents complied as to form in all material respects with applicable accounting requirements and the published
rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance with United
States generally accepted accounting principles, consistently applied, during the periods involved and fairly present in all material
respects the consolidated financial position of the Company and its consolidated Subsidiaries as of the dates thereof and the
consolidated results of their operations and cash flows for the periods then ended (subject, in the case of unaudited statements,
to normal year-end audit adjustments). Except as set forth in the financial statements of the Company included in the SEC Documents,
the Company has no liabilities, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business
subsequent to March 31, 2019, and (ii) obligations under contracts and commitments incurred in the ordinary course of business
and not required under generally accepted accounting principles to be reflected in such financial statements, which, individually
or in the aggregate, are not material to the financial condition or operating results of the Company. The Company is subject to
the reporting requirements of the 1934 Act. The Company has never been a “shell company” as described in Rule 144(i)(1)(i).

 

i. Absence
of Certain Changes. Since March 31, 2019, there has been no material adverse change and no material adverse development in
the assets, liabilities, business, properties, operations, financial condition, results of operations, prospects or 1934 Act reporting
status of the Company or any of its Subsidiaries.

 

j.
Absence of Litigation. There is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public
board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company or any of its Subsidiaries, or their officers or directors in their capacity as such,
that could have a Material Adverse Effect. The SEC Documents contain a complete list and summary description of any pending or,
to the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

k.
Intellectual Property. The Company and each of its Subsidiaries owns or possesses the requisite licenses or rights to use
all patents, patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service
marks, service names, trade names and copyrights (“Intellectual Property”) necessary to enable it to conduct its business
as now operated (and, as presently contemplated to be operated in the future); there is no claim or action by any person pertaining
to, or proceeding pending, or to the Company’s knowledge threatened, which challenges the right of the Company or of a Subsidiary
with respect to any Intellectual Property necessary to enable it to conduct its business as now operated (and, as presently contemplated
to be operated in the future); to the best of the Company’s knowledge, the Company’s or its Subsidiaries’ current
and intended products, services and processes do not infringe on any Intellectual Property or other rights held by any person;
and the Company is unaware of any facts or circumstances which might give rise to any of the foregoing. The Company and each of
its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of their Intellectual
Property.

 

    6

     

    

 

l.
No Materially Adverse Contracts, Etc. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate
or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers
has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party
to any contract or agreement which in the judgment of the Company’s officers has or is expected to have a Material Adverse
Effect.

 

m.
Tax Status. The Company and each of its Subsidiaries has made or filed all federal, state and foreign income and all other
tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that
the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid
and unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown
or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside
on its books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
jurisdiction, and the officers of the Company know of no basis for any such claim. The Company has not executed a waiver with
respect to the statute of limitations relating to the assessment or collection of any foreign, federal, state or local tax. None
of the Company’s tax returns is presently being audited by any taxing authority.

 

n.
Transactions with Affiliates. Except for arm’s length transactions pursuant to which the Company or any of its Subsidiaries
makes payments in the ordinary course of business upon terms no less favorable than the Company or any of its Subsidiaries could
obtain from third parties and other than the grant of stock options described in the SEC Documents, none of the officers, directors,
or employees of the Company is presently a party to any transaction with the Company or any of its Subsidiaries (other than for
services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing
of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from
any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity
in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

o.
Disclosure. All information relating to or concerning the Company or any of its Subsidiaries set forth in this Agreement
and provided to the Buyer pursuant to Section 2(d) hereof and otherwise in connection with the transactions contemplated hereby
is true and correct in all material respects and the Company has not omitted to state any material fact necessary in order to
make the statements made herein or therein, in light of the circumstances under which they were made, not misleading. No event
or circumstance has occurred or exists with respect to the Company or any of its Subsidiaries or its or their business, properties,
prospects, operations or financial conditions, which, under applicable law, rule or regulation, requires public disclosure or
announcement by the Company but which has not been so publicly announced or disclosed (assuming for this purpose that the Company’s
reports filed under the 1934 Act are being incorporated into an effective registration statement filed by the Company under the
1933 Act).

 

p. Acknowledgment
Regarding Buyer’s Purchase of Securities. The Company acknowledges and agrees that the Buyer is acting solely in the
capacity of arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company
further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity)
with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer or any of its respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice or a recommendation
and is merely incidental to the Buyer’s purchase of the Securities. The Company further represents to the Buyer that the
Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the Company and its
representatives.

 

q.
No Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has
directly or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances
that would require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities
to the Buyer will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes
of any shareholder approval provisions applicable to the Company or its securities.

 

    7

     

    

 

r.
No Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions,
transaction fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

s.
Permits; Compliance. The Company and each of its Subsidiaries is in possession of all franchises, grants, authorizations,
licenses, permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to own, lease and
operate its properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”),
and there is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of
the Company Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of
the Company Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect. Since March 31, 2019, neither the Company nor any of its Subsidiaries
has received any notification with respect to possible conflicts, defaults or violations of applicable laws, except for notices
relating to possible conflicts, defaults or violations, which conflicts, defaults or violations would not have a Material Adverse
Effect.

 

 t. Environmental Matters.

 

(i) There
are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of the Company,
no past or present violations of Environmental Laws (as defined below), releases of any material into the environment, actions,
activities, circumstances, conditions, events, incidents, or contractual obligations which may give rise to any common law environmental
liability or any liability under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or similar federal,
state, local or foreign laws and neither the Company nor any of its Subsidiaries has received any notice with respect to any of
the foregoing, nor is any action pending or, to the Company’s knowledge, threatened in connection with any of the foregoing.
The term “Environmental Laws” means all federal, state, local or foreign laws relating to pollution or protection
of human health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface
strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals,
pollutants contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”) into the
environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments,
licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

(ii) Other
than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained
on or about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials
were released on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during
the period the property was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the
Company’s or any of its Subsidiaries’ business.

 

(iii) There
are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries
that are not in compliance with applicable law.

 

u.
Title to Property. The Company and its Subsidiaries have good and marketable title in fee simple to all real property and
good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries,
in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule 3(u), if attached
hereto, or such as would not have a Material Adverse Effect. Any real property and facilities held under lease by the Company
and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not have a
Material Adverse Effect.

 

    8

     

    

 

v.
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses
in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to believe that
it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from
similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written
request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’
liability coverage, errors and omissions coverage, and commercial general liability coverage.

 

w.
Internal Accounting Controls. The Company and each of its Subsidiaries maintain a system of internal accounting controls
sufficient, in the judgment of the Company’s board of directors, to provide reasonable assurance that (i) transactions are
executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset
accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

 

x.
Foreign Corrupt Practices. Neither the Company, nor any of its Subsidiaries, nor any director, officer, agent, employee
or other person acting on behalf of the Company or any Subsidiary has, in the course of his actions for, or on behalf of, the
Company, used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political
activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate
funds; violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or made any
bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or
employee.

 

y.
Solvency. The Company (after giving effect to the transactions contemplated by this Agreement) is solvent (i.e.,
its assets have a fair market value in excess of the amount required to pay its probable liabilities on its existing debts as
they become absolute and matured) and currently the Company has no information that would lead it to reasonably conclude that
the Company would not, after giving effect to the transaction contemplated by this Agreement, have the ability to, nor does it
intend to take any action that would impair its ability to, pay its debts from time to time incurred in connection therewith as
such debts mature. The Company’s financial statements for its most recent fiscal year end and interim financial statements
have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business.

 

z.
No Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement
will not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

aa.
No Off Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company or any
of its Subsidiaries and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in
its 1934 Act filings and is not so disclosed or that otherwise could be reasonably likely to have a Material Adverse Effect.

 

bb.
No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s
outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule
405 under the 1933 Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the 1933 Act
(a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company
has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.

 

    9

     

    

 

cc.
Manipulation of Price. The Company has not, and to its knowledge no one acting on its behalf has: (i) taken, directly or
indirectly, any action designed to cause or to result, or that could reasonably be expected to cause or result, in the stabilization
or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold,
bid for, purchased, or paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay
to any person any compensation for soliciting another to purchase any other securities of the Company.

 

dd.
Bank Holding Company Act. Neither the Company nor any of its Subsidiaries is subject to the Bank Holding Company Act of
1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal
Reserve”). Neither the Company nor any of its Subsidiaries or affiliates owns or controls, directly or indirectly, five
percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total
equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any
of its Subsidiaries or affiliates exercises a controlling influence over the management or policies of a bank or any entity that
is subject to the BHCA and to regulation by the Federal Reserve.

 

ee.
Illegal or Unauthorized Payments; Political Contributions. Neither the Company nor any of its Subsidiaries nor, to the
Company’s knowledge, any of the officers, directors, employees, agents or other representatives of the Company or any of
its Subsidiaries or any other business entity or enterprise with which the Company or any Subsidiary is or has been affiliated
or associated, has, directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services,
whether or not in contravention of applicable law, (i) as a kickback or bribe to any person or (ii) to any political organization,
or the holder of or any aspirant to any elective or appointive public office except for personal political contributions not involving
the direct or indirect use of funds of the Company or any of its Subsidiaries.

 

ff.
Breach of Representations and Warranties by the Company. The Company agrees that if the Company breaches any of the representations
or warranties set forth in this Section 3 and in addition to any other remedies available to the Buyer pursuant to this Agreement,
it will be considered an Event of Default under Section 3.4 of the Note.

 

 4. ADDITIONAL COVENANTS, AGREEMENTS AND ACKNOWLEDGEMENTS.

 

a. Best
Efforts. The parties shall use their best efforts to satisfy timely each of the conditions described in Section 6 and 7 of
this Agreement.

 

b. Form
D; Blue Sky Laws. The Company agrees to file a Form D with respect to the Securities as required under Regulation D and to
provide a copy thereof to the Buyer promptly after such filing. The Company shall, on or before the Closing Date, take such action
as the Company shall reasonably determine is necessary to qualify the Securities for sale to the Buyer at the applicable closing
pursuant to this Agreement under applicable securities or “blue sky” laws of the states of the United States (or to
obtain an exemption from such qualification), and shall provide evidence of any such action so taken to the Buyer on or prior
to the Closing Date.

 

c. Use
of Proceeds. The Company shall use the proceeds for business development, and not for the repayment of any indebtedness owed
to officers, directors or employees of the Company or their affiliates or in violation or contravention of any applicable law,
rule or regulation.

 

 d. Right of Participation in Subsequent Offerings.

 

i.
From the date first written above until the date which is six (6) months after the date first written above, the Company
will not, (i) directly or indirectly, offer, sell, grant any option to purchase, or otherwise dispose of (or announce any
offer, sale, grant or any option to purchase or other disposition of) any of its or its Subsidiaries’ debt, equity or equity
equivalent securities, including without limitation any debt, preferred shares or other instrument or security that is, at
any time during its life and under any circumstances, convertible into or exchangeable or exercisable for Common Stock (any
such offer, sale, grant, disposition or announcement being referred to as a “Subsequent Placement”) or (ii) enter
into any definitive agreement with regard to the foregoing, in each case unless the Company shall have first complied with
this Section 4(d). This Section 4(d) shall not apply to any “Exempt Issuances” as defined in the Note.

 

    10

     

    

 

ii. The
Company shall deliver to the Buyer an irrevocable written notice (the “Offer Notice”) of any proposed or intended issuance
or sale or exchange (the “Offer”) of the securities being offered (the “Offered Securities”) in a Subsequent
Placement, which Offer Notice shall (w) identify and describe the Offered Securities, (x) describe the price and other terms upon
which they are to be issued, sold or exchanged, and the number or amount of the Offered Securities to be issued, sold or exchanged,
(y) identify the persons or entities (if known) to which or with which the Offered Securities are to be offered, issued, sold
or exchanged and (z) offer to issue and sell to or exchange with the Buyer a percentage of the Offered Securities that is pro
rata to the Buyer’s shareholdings in the Company (including, on a fully-diluted basis, all Common Stock that could be converted
under the Note at the time of the respective Offer Notice without regards to the beneficial ownership limitations in the Note)
(the “Subscription Amount”).

 

iii. To
accept an Offer, in whole or in part, the Buyer must deliver a written notice to the Company prior to the end of the tenth (10th)
business day after the Buyer’s receipt of the Offer Notice (the “Offer Period”), setting forth the portion of
the Subscription Amount that the Buyer elects to purchase (the “Notice of Acceptance”). The Company shall have ten
(10) business days from the expiration of the Offer Period to complete the Subsequent Placement and in connection therewith to
issue and sell the Subscription Amount to the Buyer but only upon terms and conditions (including, without limitation, unit prices
and interest rates) that are not more favorable to the Buyer or less favorable to the Company than those set forth in the Offer
Notice. Following such ten (10) business day period, the Company shall publicly announce either (A) the consummation of the Subsequent
Placement or (B) the termination of the Subsequent Placement.

 

iv. Notwithstanding
anything to the contrary contained herein, if the Company desires to modify or amend the terms and conditions of the Offer prior
to the expiration of the Offer Period, the Company shall deliver to the Buyer a new Offer Notice and the Offer Period shall expire
on the tenth (10th) business day after the Buyer’s receipt of such new Offer Notice.

 

v. If
by the fifteenth (15th) business day following delivery of the Offer Notice no public disclosure regarding a transaction with
respect to the Offered Securities has been made, and no notice regarding the abandonment of such transaction has been received
by the Buyer, such transaction shall be deemed to have been abandoned and the Buyer shall not be deemed to be in possession of
any material, non-public information with respect to the Company.

 

As
used in this Agreement, the term “business day” shall mean any day other than a Saturday, Sunday or a day on which
commercial banks in the city of New York, New York are authorized or required by law or executive order to remain closed.

 

e. Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim,
and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or
at any time hereafter in force, in connection with any action or proceeding that may be brought by the Buyer in order to
enforce any right or remedy under this Agreement, the Note and any document, agreement or instrument contemplated thereby.
Notwithstanding any provision to the contrary contained in this Agreement, the Note and any document, agreement or instrument
contemplated thereby, it is expressly agreed and provided that the total liability of the Company under this Agreement, the
Note or any document, agreement or instrument contemplated thereby for payments which under applicable law are in the nature
of interest shall not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and,
without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated
with any other sums which under applicable law in the nature of interest that the Company may be obligated to pay under this
Agreement, the Note and any document, agreement or instrument contemplated thereby exceed such Maximum Rate. It is agreed
that if the maximum contract rate of interest allowed by law applicable to this Agreement, the Note and any document,
agreement or instrument contemplated thereby is increased or decreased by statute or any official governmental action
subsequent to the date hereof, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable
to this Agreement, the Note and any document, agreement or instrument contemplated thereby from the effective date thereof
forward, unless such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess of
the Maximum Rate is paid by the Company to the Buyer with respect to indebtedness evidenced by this Agreement, the Note and
any document, agreement or instrument contemplated thereby, such excess shall be applied by the Buyer to the unpaid principal
balance of any such indebtedness or be refunded to the Company, the manner of handling such excess to be at the Buyer’s
election.

 

    11

     

    

 

f. Restriction
on Activities. Commencing as of the date first above written, and until the earlier of payment of the Note in full or full
conversion of the Note, the Company shall not, directly or indirectly, without the Buyer’s prior written consent, which
consent shall not be unreasonably withheld: (a) change the nature of its business; (b) sell, divest, acquire, change the structure
of any material assets other than in the ordinary course of business; or (c) solicit any offers for, respond to any unsolicited
offers for, or conduct any negotiations with any other person or entity in respect of any Variable Rate Transaction (as defined
herein), whether a transaction similar to the one contemplated hereby or any other investment.

 

g. Listing.
The Company will, so long as the Buyer owns any of the Securities, maintain the listing and trading of its Common Stock on
the Principal Market or any equivalent replacement exchange or electronic quotation system (including but not limited to the Pink
Sheets electronic quotation system) and will comply in all respects with the Company’s reporting, filing and other obligations
under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”) and such exchanges, as applicable.
The Company shall promptly provide to the Buyer copies of any notices it receives from the Principal Market and any other exchanges
or electronic quotation systems on which the Common Stock is then traded regarding the continued eligibility of the Common Stock
for listing on such exchanges and quotation systems.

 

h. Corporate
Existence. The Company will, so long as the Buyer beneficially owns any of the Securities, maintain its corporate existence
and shall not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or
sale of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction (i)
assumes the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith
and (ii) is a publicly traded corporation whose Common Stock is listed for trading or quotation on the Principal Market, any tier
of the NASDAQ Stock Market, the New York Stock Exchange or the NYSE MKT.

 

i. No
Integration. The Company shall not make any offers or sales of any security (other than the Securities) under circumstances
that would require registration of the Securities being offered or sold hereunder under the 1933 Act or cause the offering of
the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder approval
provision applicable to the Company or its securities.

 

j. Breach
of Covenants. The Company acknowledges and agrees that if the Company breaches any of the covenants set forth in this Section
4, in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event of Default
under Section 3.4 of the Note.

 

k. Compliance
with 1934 Act; Public Information Failures. For so long as the Buyer beneficially owns the Note, Warrant, or any
Conversion Shares, the Company shall comply with the reporting requirements of the 1934 Act; and the Company shall
continue to be subject to the reporting requirements of the 1934 Act. During the period that the Buyer beneficially owns the
Note, if the Company shall (i) fail for any reason to satisfy the requirements of Rule 144(c)(1), including, without
limitation, the failure to satisfy the current public information requirements under Rule 144(c) or (ii) if the Company has
ever been an issuer described in Rule 144(i)(1)(i) or becomes such an issuer in the future, and the Company shall fail to
satisfy any condition set forth in Rule 144(i)(2) (each, a “Public Information Failure”) then, as partial relief
for the damages to the Buyer by reason of any such delay in or reduction of its ability to sell the Securities (which remedy
shall not be exclusive of any other remedies available pursuant to this Agreement, the Note, or at law or in equity), the
Company shall pay to the Buyer an amount in cash equal to three percent (3%) of the Purchase Price on each of the day of a
Public Information Failure and on every thirtieth day (pro rated for periods totaling less than thirty days) thereafter until
the date such Public Information Failure is cured. The payments to which a holder shall be entitled pursuant to this Section
4(k) are referred to herein as “Public Information Failure Payments.” Public Information Failure Payments shall
be paid on the earlier of (i) the last day of the calendar month during which such Public Information Failure Payments are
incurred and (iii) the third business day after the event or failure giving rise to the Public Information Failure Payments
is cured. In the event the Company fails to make Public Information Failure Payments in a timely manner, such Public
Information Failure Payments shall bear interest at the rate of 5% per month (prorated for partial months) until paid in
full.

 

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l. Acknowledgement
Regarding Buyer’s Trading Activity. The Company acknowledges and agrees that (i) the Buyer has not been asked to agree,
nor has the Buyer agreed, to desist from purchasing or selling, long and/or short, securities of the Company, or “derivative”
securities based on securities issued by the Company or to hold the Securities for any specified term; (ii) the Buyer, and counter-parties
in “derivative” transactions to which any the Buyer is a party, directly or indirectly, presently may have a “short”
position in the Common Stock, and (iii) the Buyer shall not be deemed to have any affiliation with or control over any arm’s
length counter-party in any “derivative” transaction. The Company further understands and acknowledges that the Buyer
may engage in hedging and/or trading activities at various times during the period that the Securities are outstanding, including,
without limitation, during the periods that the value of the Conversion Shares are being determined and (b) such hedging and/or
trading activities, if any, can reduce the value of the existing stockholders’ equity interest in the Company both at and
after the time the hedging and/or trading activities are being conducted. The Company acknowledges that such aforementioned hedging
and/or trading activities do not constitute a breach of this Agreement or any of the documents executed in connection herewith.

 

m. Disclosure
of Transactions and Other Material Information. By 9:00 a.m., New York time, following the date this Agreement has been fully
executed, the Company shall file a Current Report on Form 8-K describing the terms of the transactions contemplated by this Agreement
in the form required by the 1934 Act and attaching this Agreement, the form of Note (the “8-K Filing”). From and after
the filing of the 8-K Filing with the SEC, the Buyer shall not be in possession of any material, nonpublic information received
from the Company, any of its Subsidiaries or any of their respective officers, directors, employees or agents that is not disclosed
in the 8-K Filing. In addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and
all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries
or any of their respective officers, directors, affiliates, employees or agents, on the one hand, and the Buyer or any of its
affiliates, on the other hand, shall terminate.

 

n. Legal
Counsel Opinions. Upon the request of the Buyer from to time to time, the Company shall accept from the Buyer a customary
legal opinion letter of its counsel (the “Legal Counsel Opinion”) to the effect that the resale of the Conversion
Shares by the Buyer or its affiliates, successors and assigns is exempt from the registration requirements of the 1933 Act pursuant
to Rule 144 (provided the requirements of Rule 144 are satisfied and provided the Conversion Shares are not then registered under
the 1933 Act for resale pursuant to an effective registration statement). The Buyer shall at its cost secure the Legal Counsel
Opinion, and the Company will instruct its transfer agent to accept such opinion. The Company hereby agrees that it may never
take the position that it is a “shell company” as of the date hereof in connection with its obligations under this
Agreement or otherwise.

 

o.
[Intentionally Omitted].

 

p. Most
Favored Nation. While the Note or any principal amount, interest or fees or expenses due thereunder remain outstanding and
unpaid, the Company shall not enter into any public or private offering of its securities (including securities convertible into
shares of Common Stock) with any individual or entity (an “Other Investor”) that has the effect of establishing rights
or otherwise benefiting such Other Investor in a manner more favorable in any material respect to such Other Investor than the
rights and benefits established in favor of the Buyer by this Agreement or the Note unless, in any such case, the Buyer has been
provided with such rights and benefits pursuant to a definitive written agreement or agreements between the Company and the Buyer.

 

    13

     

    

 

q. Subsequent
Variable Rate Transactions. From the date hereof until the date which is 180 calendar days after the date hereof, the
Company shall be prohibited from effecting or entering into an agreement involving a Variable Rate Transaction.
“Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity
securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of
Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or
varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of
such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some
future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent
events directly or indirectly related to the business of the Company or the market for the Common Stock or (ii) enters into
any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future
determined price. Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such
issuance, which remedy shall be in addition to any right to collect damages.

 

r. Brokerage
Account Restrictions. If the Common Stock issued upon conversion of the Note cannot be delivered to a brokerage account of
the Buyer as a result of restrictions imposed by such brokerage firm, then the Company agrees to take any such action required,
including but not limited to a reverse stock split, to remove any such restrictions on depositing the Common Stock into such brokerage
account or to satisfy any requirement for deposit of the Common Stock into such brokerage account.

 

s. Non-Public
Information. The Company covenants and agrees that neither it, nor any other person acting on its behalf will provide the
Buyer or its agents or counsel with any information that constitutes, or the Company reasonably believes constitutes, material
non-public information, unless prior thereto the Buyer shall have consented to the receipt of such information and agreed with
the Company to keep such information confidential. The Company understands and confirms that the Buyer shall be relying on the
foregoing covenant in effecting transactions in securities of the Company. To the extent that the Company delivers any material,
non-public information to the Buyer without such Buyer’s consent, the Company hereby covenants and agrees that such Buyer
shall not have any duty of confidentiality to the Company, any of its Subsidiaries, or any of their respective officers, directors,
agents, employees or affiliates, not to trade on the basis of, such material, non- public information, provided that the Buyer
shall remain subject to applicable law. To the extent that any notice provided, information provided, or any other communications
made by the Company, to the Buyer, constitutes or contains material non-public information regarding the Company or any Subsidiaries,
the Company shall simultaneously file such notice or other material information with the SEC pursuant to a Current Report on Form
8-

K.
In addition to any other remedies provided by this Agreement or the related transaction documents, if the Company provides any
material non-public information to the Buyer without their prior written consent, and it fails to immediately (no later than that
business day) file a Form 8-K disclosing this material non-public information, it shall pay the Buyer as partial liquidated damages
and not as a penalty a sum equal to $3,000 per day beginning with the day the information is disclosed to the Buyer and ending
and including the day the Form 8-K disclosing this information is filed.

 

t.
[Intentionally Omitted].

 

    14

     

    

 

5. Transfer
Agent Instructions. The Company shall issue irrevocable instructions to the Company’s transfer agent to issue
certificates, registered in the name of the Buyer or its nominee, upon conversion of the Note and/or exercise of the
Warrant, the Conversion Shares, in such amounts as specified from time to time by the Buyer to the Company in accordance with
the terms thereof (the “Irrevocable Transfer Agent Instructions”). In the event that the Company proposes to
replace its transfer agent, the Company shall provide, prior to the effective date of such replacement, a fully executed
Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to this Agreement (including but not
limited to the provision to irrevocably reserved shares of Common Stock in the Reserved Amount (as defined in the Note))
signed by the successor transfer agent to the Company and the Company. Prior to registration of the Conversion Shares under
the 1933 Act or the date on which the Conversion Shares may be sold pursuant to Rule 144 without any restriction as to the
number of Securities as of a particular date that can then be immediately sold, all such certificates shall bear the
restrictive legend specified in Section 2(g) of this Agreement. The Company warrants that: (i) no instruction other than the
Irrevocable Transfer Agent Instructions referred to in this Section 5 will be given by the Company to its transfer agent and
that the Securities shall otherwise be freely transferable on the books and records of the Company as and to the extent
provided in this Agreement and the Note; (ii) it will not direct its transfer agent not to transfer or delay, impair, and/or
hinder its transfer agent in transferring (or issuing)(electronically or in certificated form) any certificate for Securities
to be issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when required by the Note and this
Agreement; (iii) it will not fail to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders
its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof)
on any certificate for any Securities issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when
required by the Note and this Agreement and (iv) it will provide any required corporate resolutions and issuance approvals to
its transfer agent within 6 hours of each conversion of the Note. Nothing in this Section shall affect in any way the
Buyer’s obligations and agreement set forth in Section 2(g) hereof to comply with all applicable prospectus
delivery requirements, if any, upon re-sale of the Securities. If the Buyer provides the Company, at the cost of the Company,
with (i) an opinion of counsel in form, substance and scope customary for opinions in comparable transactions, to the effect
that a public sale or transfer of such Securities may be made without registration under the 1933 Act and such sale or
transfer is effected or (ii) the Buyer provides reasonable assurances that the Securities can be sold pursuant to Rule 144,
the Company shall permit the transfer, and, in the case of the Securities, promptly instruct its transfer agent to issue one
or more certificates, free from restrictive legend, in such name and in such denominations as specified by the Buyer. The
Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer, by vitiating
the intent and purpose of the transactions contemplated hereby. Accordingly, the Company acknowledges that the remedy at law
for a breach of its obligations under this Section 5 may be inadequate and agrees, in the event of a breach or threatened
breach by the Company of the provisions of this Section, that the Buyer shall be entitled, in addition to all other available
remedies, to an injunction restraining any breach and requiring immediate transfer, without the necessity of showing economic
loss and without any bond or other security being required.

 

6. Conditions
to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Note to the Buyer
at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following conditions thereto, provided
that these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion:

 

 a. The Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.
The Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c. The
representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and as
of the Closing Date, as though made at that time (except for representations and warranties that speak as of a specific date),
and the Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

7. Conditions
to The Buyer’s Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Note, on the Closing Date,
is subject to the satisfaction, at or before the Closing Date, of each of the following conditions, provided that these conditions
are for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

 a. The Company shall have executed this Agreement and delivered the same to the Buyer.

 

b. The
Company shall have delivered to the Buyer the duly executed Note in such denominations as the Buyer shall request and in accordance
with Section 1(b) above.

 

 c. The Company shall have issued to the Buyer the Warrant and Commitment Shares.

 

d.
The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been delivered to and
acknowledged in writing by the Company’s Transfer Agent.

 

    15

     

    

 

e. The
representations and warranties of the Company shall be true and correct in all material respects as of the date when made and
as of Closing Date, as though made at such time (except for representations and warranties that speak as of a specific date) and
the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date.

 

f. No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

g. No
event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but not
limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934 Act
reporting obligations.

 

h. Trading
in the Common Stock on the Principal Market shall not have been suspended by the SEC, FINRA or the Principal Market.

 

i. The
Company shall have delivered to the Buyer (i) a certificate evidencing the formation and good standing of the Company and each
of its Subsidiaries in such entity’s jurisdiction of formation issued by the Secretary of State (or comparable office) of
such jurisdiction, as of a date within ten (10) days of the Closing Date and (ii) resolutions adopted by the Company’s Board
of Directors at a duly called meeting or by unanimous written consent authorizing this Agreement and all other documents, instruments
and transactions contemplated hereby.

 

8. Governing
Law; Miscellaneous.

 

a. Governing
Law; Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard
to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement, the Note, or any other agreement, certificate, instrument or document contemplated hereby shall be brought
only in the state courts located in the state and county of New York or in the federal courts located in the state and county
of New York. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTIONS CONTEMPLATED HEREBY. The prevailing party
shall be entitled to recover from the other party its reasonable attorney’s fees and costs. Each party hereby irrevocably
waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this
Agreement, the Note, or any other agreement, certificate, instrument or document contemplated hereby or thereby by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted
by law.

 

b. Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party. A facsimile or .pdf signature shall be considered due execution and shall be binding upon the signatory thereto
with the same force and effect as if the signature were an original, not a facsimile or .pdf signature. Delivery of a counterpart
signature hereto by facsimile or email/.pdf transmission shall be deemed validly delivery thereof.

 

c. Construction;
Headings. This Agreement shall be deemed to be jointly drafted by the Company and the Buyer and shall not be construed
against any person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not
form part of, or affect the interpretation of, this Agreement.

 

    16

     

    

 

d.
Severability. In the event that any provision of this Agreement, the Note, or any other agreement or instrument delivered
in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of
law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of this Agreement, the Note, or any other agreement, certificate, instrument or document contemplated hereby
or thereby.

 

e. Entire
Agreement; Amendments. This Agreement, the Note, and the instruments referenced herein contain the entire understanding of
the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither
the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement or any agreement or instrument contemplated hereby may be waived or amended other than by an instrument in writing
signed by the Buyer.

 

f.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, e-mail or facsimile, addressed as set forth below or to such other address as
such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be
given hereunder shall be deemed effective (a) upon hand delivery or delivery by e-mail or facsimile, with accurate confirmation
generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during
normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other
than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following
the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The addresses for such communications shall be:

 

If
to the Company, to:

 

BLOX,
INC.

1177
Avenue of the Americas, 5th Floor

New York, NY 10036

Attention:
Ronald Renee

e-mail: info@bloxinc.com

 

If
to the Buyer:

 

FIRSTFIRE
GLOBAL OPPORTUNITIES FUND, LLC

1040
First Avenue, Suite 190

New York, NY 10022

Attn:
Eli Fireman

e-mail:
eli@firstfirecapital.com

 

With
a copy by e-mail only to (which copy shall not constitute notice):

 

ANTHONY
L.G., PLLC

625
N. Flagler Drive, Suite 600

West Palm Beach, FL 33401

Attn: Chad Friend, Esq., LL.M.

e-mail:
CFriend@AnthonyPLLC.com

 

    17

     

    

 

g. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, subject to Section 2(f), the Buyer may assign its rights hereunder to any
person that purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as that term
is defined under the 1934 Act, without the consent of the Company.

 

h. Third
Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

i.
Survival. The representations and warranties of the Company and the agreements and covenants set forth in this Agreement
shall survive the closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The
Company agrees to indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage
arising as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and
covenants set forth in this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses
as they are incurred.

 

j.
Publicity. The Company, and the Buyer shall have the right to review a reasonable period of time before issuance of
any press releases, SEC, Principal Market or FINRA filings, or any other public statements with respect to the transactions contemplated
hereby; provided, however, that the Company shall be entitled, without the prior approval of the Buyer, to make
any press release or SEC, Principal Market (or other applicable trading market) or FINRA filings with respect to such transactions
as is required by applicable law and regulations (although the Buyer shall be consulted by the Company in connection with any
such press release prior to its release and shall be provided with a copy thereof and be given an opportunity to comment thereon).

 

k. Expense
Reimbursement; Further Assurances. At the Closing to occur as of the Closing Date, the Company shall pay on behalf of the
Buyer or reimburse the Buyer for its legal fees and expenses incurred in connection with this Agreement, pursuant to the disbursement
authorization signed by the Company of even date. Each party shall do and perform, or cause to be done and performed, all such
further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as
the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby.

 

l. No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

m. Indemnification.
In consideration of the Buyer’s execution and delivery of this Agreement and acquiring the Securities hereunder, and in
addition to all of the Company’s other obligations under this Agreement or the Note, the Company shall defend, protect,
indemnify and hold harmless the Buyer and its stockholders, partners, members, officers, directors, employees and direct or
indirect investors and any of the foregoing persons’ agents or other representatives (including, without
limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the
“Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties,
fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party
to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and
disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out of, or
relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement, the
Note or any other agreement, certificate, instrument or document contemplated hereby or thereby, (b) any breach of any
covenant, agreement or obligation of the Company contained in this Agreement, the Note or any other agreement, certificate,
instrument or document contemplated hereby or thereby or (c) any cause of action, suit or claim brought or made against such
Indemnitee by a third party (including for these purposes a derivative action brought on behalf of the Company) and arising
out of or resulting from (i) the execution, delivery, performance or enforcement of this Agreement, the Note or any other
agreement, certificate, instrument or document contemplated hereby or thereby, (ii) any transaction financed or to be
financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Securities, or (iii)
the status of the Buyer or holder of the Securities as an investor in the Company pursuant to the transactions contemplated
by this Agreement. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the
Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities that is
permissible under applicable law.

 

    18

     

    

 

n.
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to
the Buyer by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that
the remedy at law for a breach of its obligations under this Agreement or the Note will be inadequate and agrees, in the event
of a breach or threatened breach by the Company of the provisions of this Agreement or the Note, that the Buyer shall be entitled,
in addition to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction
or injunctions restraining, preventing or curing any breach of this Agreement or the Note and to enforce specifically the terms
and provisions hereof, without the necessity of showing economic loss and without any bond or other security being required.

 

o. Payment
Set Aside. To the extent that the Company makes a payment or payments to the Buyer hereunder or pursuant to the Note, or the
Buyer enforces or exercises its rights hereunder or thereunder, and such payment or payments or the proceeds of such enforcement
or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered
from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other
person or entity under any law (including, without limitation, any bankruptcy law, foreign, state or federal law, common law or
equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be
satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or
setoff had not occurred.

 

p. Failure
or Indulgence Not Waiver. No failure or delay on the part of the Buyer in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privileges. All rights and remedies of the Buyer existing hereunder
are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

[Signature
Page Follows]

 

    19

     

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above
written.

 

BLOX,
INC.

 

	By:
    	/s/
    Ronald Renee	 
		Name:	RONALD RENEE	 
		Title:	CHIEF EXECUTIVE OFFICER	 

 

FIRSTFIRE
GLOBAL OPPORTUNITIES FUND, LLC

 

By:
FirstFire Capital Management LLC, its manager

 

	By:
    	 	 
		ELI FIREMAN	 

 

SUBSCRIPTION
AMOUNT:

 

Principal Amount of Note: $ 75,000.00

Actual Amount of Purchase Price
of Note: $ 67,500.00 *

 

		*	The
purchase price of $67,500.00 shall be paid within a reasonable amount of time after the full execution of the Note and all related
transaction documents.

 

    20

     

    

 

EXHIBIT
A

 

FORM
OF NOTE

 

[attached
hereto]

 

 

21

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