Document:

Exhibit
10.8

  

 

AMENDED
AND RESTATED

CREDIT AGREEMENT

 

by
and between

 

1095
BROKEN SOUND PKWY LLC

GREENLANE HOLDINGS, LLC

 

and

 

FIFTH
THIRD BANK

 

Dated
as of October 1, 2018

  

 

     

     

    

 

AMENDED
AND RESTATED CREDIT AGREEMENT

 

This
AMENDED AND RESTATED CREDIT AGREEMENT is dated as of October 1, 2018, by and between 1095 BROKEN SOUND PKWY LLC, a Delaware limited
liability company (the “RE Borrower” and a “Borrower”), GREENLANE HOLDINGS, LLC, a Delaware
limited liability company (the “RLOC Borrower” and a “Borrower”) and FIFTH THIRD BANK, an
Ohio Banking Corporation (the “Bank”).

 

RECITALS

 

The
Bank and Jacoby & Co., a Nevada corporation (“Jacoby”) entered into that certain Credit Agreement dated October
4, 2017 (the “Original Credit Agreement”) pursuant to which the Bank extended to Jacoby a revolving credit commitment
in an amount not to exceed Eight Million ($8,000,000) Dollars.

 

The
RLOC Borrower is an indirect majority owned subsidiary of Jacoby.

 

In
connection with a restructuring of the organization of Jacoby and affiliated entities, on August 23, 2018, the Bank, Jacoby, the
RLOC Borrower and the Guarantors entered into an Omnibus Amendment No. 1 to Credit Agreement, Guaranties, and Security Agreements
(the “Omnibus Amendment”), which, in part: (i) amended the Original Credit Agreement to: (a) increase the revolving
credit commitment to an amount not to exceed Fifteen Million ($15,000,000) Dollars; (b) extend the maturity date of the revolving
credit commitment to August 23, 2020; and (c) effectuate the assumption by the RLOC Borrower of all obligations of Jacoby as the
“borrower” under the Original Credit Agreement and other Loan Documents; (ii) amended the Guaranties; and (iii) amended
the Security Agreements.

 

The
RE Borrower, an indirect wholly owned subsidiary of the RLOC Borrower, has requested that the Bank provide financing for the RE
Borrower’s acquisition of a certain parcel of real property, and the Bank has agreed to provide said financing.

 

The
Bank, the RLOC Borrower, and the RE Borrower have agreed to amend and restate the Original Credit Agreement to incorporate the
terms of the Omnibus Amendment that amended the Original Credit Agreement, and to add a real estate finance facility that sets
forth the terms and conditions of the real estate financing described above.

 

Accordingly,
the Borrowers and the Bank agree as follows:

 

ARTICLE
I

DEFINITIONS
AND ACCOUNTING TERMS

 

Section
1.1. Definitions. As used herein, the following words and terms shall have the following meanings:

 

“Adjusted
EBITDA” shall mean, for the period in question, Net Income plus Interest Expense plus depreciation
and amortization plus taxes plus rents and operating lease payments minus distributions and dividends to
members and shareholders (net of contributions, which shall not exceed distributions) plus proceeds of all
Subordinated Debt plus/minus any nonrecurring/extraordinary expense or revenue items as determined by the Bank in its
reasonable discretion, calculated in accordance with GAAP applied on a consistent basis but adjusted for non-cash
straight-line rent adjustments and capital expenditures (other than capital expenditures financed with the proceeds of
purchase money Indebtedness or Capital Leases to the extent permitted under this Agreement).

  

    	 	2	 

     

    

 

“Adjustment
Protocol” shall have the meaning set forth in the definition of LIBOR Rate.

 

“Affiliate”
shall mean with respect to any Person, any corporation, partnership, limited liability company, limited liability partnership,
joint venture, trust or unincorporated organization which, directly or indirectly, controls or is controlled by or is under common
control with such Person. For the purpose of this definition, “control” of a Person shall mean the power, direct or
indirect, to direct or cause the direction of the management or policies of such Person whether through the ownership of voting
securities by contract or otherwise; provided that, in any event, any person who owns directly or indirectly forty (40%) percent
or more of the securities having ordinary voting power for the election of directors or other governing body of a corporation
or forty (40%) percent or more of the partnership, membership or other ownership interest of any Person (other than as a limited
partner of such other Person) will be deemed to control such corporation or other Person.

 

“Agreed
Currency” shall have the meaning provided in Section 9.17.

 

“Agreement”
shall mean this Amended and Restated Credit Agreement dated as of October 1, 2018, which amends and restates the Original Credit
Agreement, as amended by the Omnibus Amendment, as it may hereafter be amended, restated, supplemented or otherwise modified from
time to time in accordance with the terms hereof.

 

“AML
Legislation” shall have the meaning provided in Section 9.16.

 

“Anti-Terrorism
Laws” shall mean any laws relating to terrorism or money laundering, including Executive Order No. 13224, the USA Patriot
Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by the United States Treasury Department’s
Office of Foreign Asset Control, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) (as any of the
foregoing laws may from time to time be amended, renewed, extended, or replaced).

 

“Banking
Services” shall mean each and any of the following commercial bank services provided to the Borrowers by the Bank: (i)
commercial credit, credit cards, purchase or debit cards and (ii) cash management, treasury or related services (including, without
limitation, controlled deposit accounts, overnight draft, funds transfer, automated clearinghouse, zero accounts, lockbox, account
reconciliation, disbursement, ACH transactions, return items and interstate depository network services); and (iii) any interest
rate swap, cap, floor, collar, or any similar transaction or any combination of, or option with respect to, these or similar transactions,
for the purpose of hedging a Borrower’s exposure to fluctuations in internet rates.

 

“Banking
Services Obligations” of the Borrowers shall mean any and all obligations of a Borrower, whether absolute or contingent
and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof
and substitutions therefor) in connection with Banking Services.

 

“Blocked
Person” shall have the meaning provided in Section 4.19(b).

 

“Borrowing
Base” shall mean, at any time, fifty (50%) percent of Borrower Group’s Eligible Inventory plus eighty (80%) percent
of Borrower Group’s Eligible Receivables.

  

    	 	3	 

     

    

 

“Borrowing
Base Certificate” shall mean a certificate signed and certified as accurate and complete by an Executive Officer of RLOC
Borrower, setting forth the calculation of the Borrowing Base, and including such other information as may be reasonably requested
by Bank from time to time.

 

“Borrowing
Date” shall mean, with respect to any Loan, the date on which such Loan is disbursed to the Borrower.

 

“Borrower
Group” shall mean the Borrowers and each Guarantor that is a direct and indirect subsidiary of a Borrower.

 

“Business
Day” shall mean (i) with respect to all notices and determinations in connection with the LIBOR Rate, any day (other
than a Saturday or Sunday) on which commercial banks are open in London, England, New York, New York, and Cincinnati, Ohio for
dealings in deposits in the London Interbank Market; and (ii) in all other cases, any day on which commercial banks in Cincinnati,
Ohio are required by law to be open for business; provided that, notwithstanding anything to the contrary in this definition of
“Business Day”, at any time during which a rate management agreement with the Bank is then in effect with respect to
all or a portion of a Note, then the definitions of “Business Day” and “Banking Day”, as applicable, pursuant
to such rate management agreement shall govern with respect to all applicable notices and determinations in connection with such
portion of said Note subject to such rate management agreement.

 

“Canadian
Benefit Plans” shall mean, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, any
bonus, deferred compensation, incentive compensation, share purchase, share option, share appreciation, phantom share, savings,
profit sharing, severance or termination pay, health, dental or other medical, life, disability insurance, mortgage insurance,
employee loan, employee assistance, supplementary unemployment benefit, registered and other pension, retirement and supplementary
retirement, plan, program and every other benefit plan, program, agreement, arrangement or practice maintained or contributed
to for the benefit of any of the Borrower Group’s employees, former employees or their respective dependent or beneficiaries or
under which the Borrower Group has any liability in respect of any of its employees, former employees or their respective dependent
or beneficiaries, but excluding the Canada Pension Plan, the Quebec Pension Plan, any health or drug plan established and administered
by a Canadian Province and workers’ compensation insurance provided by Canadian federal or provincial legislation or a comparable
program established and administered outside Canada.

 

“Canadian
Insolvency Laws” shall mean any of the Bankruptcy and Insolvency Act (Canada) the Companies’ Creditors Arrangement Act
(Canada), the Winding-Up and Restructuring Act (Canada), the Bankruptcy Code, as at now and hereafter in effect, any successors
to such statutes and any other applicable insolvency or other similar law of any jurisdiction, including any law of any jurisdiction
permitting a debtor to obtain a stay or a compromise of the claims of its creditors against it.

 

“Canadian
Pension Legislation” shall mean the Pension Benefits Act (Ontario) and regulations adopted thereunder, and any similar
Canadian provincial or federal legislation.

 

“Canadian
Pension Plans” shall mean a Canadian Benefit Plan which is a registered pension plan, as that term is defined in the
Income Tax Act (Canada), other than a MEPP.

 

“Capital
Lease” shall mean (i) any lease of property, real or personal, if the then present value of the minimum rental
commitment thereunder should, in accordance with GAAP applied on a consistent basis, be capitalized on the balance
sheet of the lessee, and (ii) any other such lease the obligations of which are required to be capitalized on the balance
sheet of the lessee.

  

    	 	4	 

     

    

 

“Change
of Control” shall mean any event which results in any Person, or two or more Persons acting in concert, in each case,
acquiring beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended), directly or indirectly, by contract or otherwise, or entering into a contract or arrangement
which upon consummation will result in its or their acquisition of, or control over, securities of a Borrower (or other securities
convertible into such securities) representing fifty (50%) percent or more of the combined voting power of all securities of said
Borrower entitled to vote in the election of managers of said Borrower.

 

“Closing
Date” shall mean October 1, 2018.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time.

 

“Commitment”
shall mean the obligation of the Bank to make Revolving Credit Loans to the RLOC Borrower in the aggregate amount not to exceed
Fifteen Million ($15,000,000) Dollars.

 

“Commitment
Period” shall mean the period from and including the Closing Date to, but not including, August 23, 2020, or such earlier
date as the Commitment shall terminate as provided herein.

 

“Commitment
Termination Date” shall mean the last day of the Commitment Period. “CPA” shall have the meaning set
forth in Section 4.3.

 

“Default”
shall mean any event or condition which upon notice, lapse of time, or both, would constitute an Event of Default.

 

“Dollar”
and the symbol “$” shall mean lawful money of the United States of America.

 

“Eligible
Inventory” means at any time, Borrower Group’s inventory of finished goods held for use or sale in the ordinary course
of Borrower Group’s business, valued by the Bank at the lower of cost or fair market value on a first in, first out basis; provided
that Eligible Inventory shall not include the following: (i) raw materials and work-in-process; (ii) obsolete items; (iii) samples
and packing materials; (iv) returned items; (v) any inventory in which the Bank does not have a valid, first priority and fully
perfected security interest; (vi) any inventory evidenced by negotiable warehouse receipts or documents of title which have not
been issued in the name of the Bank; and (viii) any inventory not in the actual possession of the Borrower Group or located at
any leased location or public warehouse, unless a reasonably satisfactory landlord or warehouseman lien subordination or waiver
has been delivered to the Bank or reserves reasonably satisfactory to the Bank in its discretion have been established by the
Borrower Group with respect thereto, provided, however, inventory in transit shall, notwithstanding the foregoing, be considered
Eligible Inventory under this Section (viii) to the extent said inventory is properly insured, as determined by the Bank in its
reasonable discretion, with the Bank named as a loss-payee on any applicable insurance policy. Inventory, which is deemed to be
Eligible Inventory, but which subsequently fails to meet the foregoing criteria for Eligible Inventory, shall immediately cease
to be Eligible Inventory for the purpose of determining the Borrowing Base. To the extent that such inventory once again meets
the foregoing criteria for Eligible Inventory, such inventory shall immediately be Eligible Inventory for purposes of determining
the Borrowing Base.

  

    	 	5	 

     

    

 

“Eligible
Receivables” shall mean, at any time, Borrower Group’s accounts receivable that are not more than ninety (90) days past
the original invoice date (less contra accounts); provided that Eligible Receivables shall not include the following: (i) accounts
receivable with respect to which the account debtor is a member, officer, employee, agent or Affiliate of any of the Borrower
Group; (ii) accounts receivable with respect to which the debtor is not a resident of, or does not have its principal place of
business in, the United States or Canada, provided, however, said accounts receivable may be deemed eligible by the Bank on a
case by case basis, if satisfactory letters of credit, credit insurance, or other requested documentation is received by the Bank;
(iii) if the total accounts receivable owed by a debtor to the Borrower Group total more than twenty (20%) percent of Borrower
Group’s total accounts receivable, then Eligible Receivables shall not include any such accounts receivable owed by said debtor
to the Borrower Group that exceed twenty (20%) percent of Borrower Group’s total accounts receivable; and (iv) any and all accounts
receivable owed by a particular debtor if twenty-five (25%) percent or more of the total accounts receivable owed by said debtor
to the Borrower Group are due and outstanding more than ninety (90) days from the original invoice date. In the event that an
Eligible Receivable ceases to be an Eligible Receivable hereunder, the RLOC Borrower shall notify the Bank thereof on and at the
time of submission to the Bank of the next Borrowing Base Certificate. In determining the amount of an Eligible Receivable, the
face amount of an account may, in the Bank’s discretion, be reduced, without duplication, to the extent not reflected in such
face amount, by: (a) the amount of all accrued and actual rebates, discounts, claims, credits or credits pending, promotional
program allowances, price adjustments, finance charges or other allowances and (b) the aggregate amount of all cash received in
respect of such account but not yet applied by the Borrower Group to reduce the amount of such account.

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. Section references to ERISA are
to ERISA, as in effect at the date of this Agreement and any subsequent provisions of ERISA, amendatory thereof, supplemental
thereto or substituted therefor.

 

“ERISA
Affiliate” shall mean each person (as defined in Section 3(9) of ERISA) which, together with the Borrower Group, would
be deemed to be a member of the same “controlled group” within the meaning of Section 414(b) and (c) of the Code.

 

“Event
of Default” shall mean any Event of Default set forth in Article VIII.

 

“Executive
Officer” shall mean the chief executive officer or chief financial officer of a Borrower or entity Guarantor, as applicable,
and any other officer or similar official thereof with significant responsibility for the administration of the obligations of
the Borrower or entity Guarantor in respect of this Agreement and the other Loan Documents.

 

“Executive
Order” shall mean the Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, as the same has
been, or shall hereafter be, renewed, extended, amended or replaced.

 

“Fixed
Charge Coverage Ratio” shall mean the ratio of Borrower Group’s consolidated (i) Adjusted EBITDA to (ii) the sum of (a)
all principal and interest payments with respect to Indebtedness that were paid or were due and payable by the Borrower Group
during the period in question, and (b) all rents that were paid or payable and all operating lease payments that were paid or
payable by the Borrower Group during the period in question, calculated in accordance with GAAP applied on a consistent basis
but adjusted for non-cash straight-line rent adjustments.

 

“Governmental
Authority” shall mean any nation or government, any state, province, city or municipal entity or other political subdivision
thereof, and any governmental, executive, legislative, judicial, administrative or regulatory agency, department, authority, instrumentality,
commission, board or similar body, whether federal, state, provincial, territorial, local or foreign.

  

    	 	6	 

     

    

 

“Guaranties”
shall mean guaranties executed by each of the Guarantors, as the same may be amended, restated, supplemented or modified, from
time to time.

 

“Guarantors”
shall mean Aaron LoCascio, Adam Schoenfeld, Jacoby & Co. Inc., a Nevada corporation, Mid-Atlantic Holdings Group LLC, a Delaware
limited liability company, BioVapor Solutions LLC, a Delaware limited liability company, MSI Imports LLC, a Washington limited
liability company, Aerospaced LLC, a Florida limited liability company, Warehouse Goods LLC, a Delaware limited liability company,
QD Products, LLC, a Delaware limited liability company, GS Fulfillment LLC, a Delaware limited liability company, Vape World Distribution
LTD., a British Columbia corporation, HS Products LLC, a Delaware limited liability company, and RLOC Borrower.

 

“Hazardous
Materials” shall mean any flammable explosives, radioactive materials, hazardous materials, hazardous wastes, hazardous
or toxic substances, or related materials defined in the Comprehensive Environmental Response, Compensation, and Liability Act
of 1980, as amended (42 U.S.C. Sections 9601, et seq.), the Hazardous Materials Transportation Act, as amended (49) U.S.C.
Sections 1801, et seq.), the Resource Conservation and Recovery Act, as amended (42 U.S.C. Sections 9601, et seq.),
and in the regulations adopted and publications promulgated pursuant thereto, or any other federal, state or local environmental
law, ordinance, rule or regulation.

 

“Hedge
Agreement” shall mean any agreement between a Borrower and Bank or any affiliate of Bank, now existing or hereafter entered
into, which provides for an interest rate swap, cap, floor, collar, or any similar transaction or any combination of, or option
with respect to, these or similar transactions, for the purpose of hedging a Borrower’s exposure to fluctuations in interest rates.

 

“Indebtedness”
shall mean, without duplication, as to any Person or Persons (i) indebtedness for borrowed money; (ii) indebtedness for the deferred
purchase price of property or services; (iii) indebtedness evidenced by bonds, debentures, notes or other similar instruments;
(iv) obligations and liabilities secured by a Lien upon property owned by such Person, whether or not owing by such Person and
even though such Person has not assumed or become liable for the payment thereof; (v) obligations or liabilities created or arising
under any conditional sales contract or other title retention agreement with respect to property used and/or acquired by such
Person; (vi) obligations of such Person as lessee under Capital Leases; (vii) liabilities of such Person under Hedge Agreements
and foreign currency exchange agreements, as calculated on a basis reasonably satisfactory to the Bank and in accordance with
accepted practice; (viii) all obligations of such Person in respect of bankers’ acceptances; (ix) all obligations, contingent
or otherwise, of such Person as an account party in respect of letters of credit and (x) all guaranties of such Person of the
type of Indebtedness described in clauses (i) through (ix) above. The amount of any Indebtedness of a Person for which recourse
is limited to an identified asset or assets of such Person shall be equal to the lesser of (x) the amount of such Indebtedness
and (y) the fair market value of such asset or assets. For purposes of this definition, the amount of any Indebtedness represented
by a guaranty shall be the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instruments
embodying such Indebtedness.

 

“Interest
Expense” shall mean all interest expense of the Borrower Group determined on a consolidated basis in accordance with
GAAP applied on a consistent basis.

 

“Judgment
Currency” shall have the meaning provided in Section 9.17.

 

“Jurisdiction”
shall mean the state in the United States where the Bank’s branch which maintains Borrower Group’s major deposits
is located, or if Borrower Group does not have deposits with the Bank, the Bank’s office in a state of the United States
where Borrower Group’s major banking relationship with it is conducted; if neither of the foregoing apply, then jurisdiction
shall mean the State of Florida.

  

    	 	7	 

     

    

 

“Landlord
Waivers” shall mean the Landlord waivers with respect to properties occupied by the Borrower Group, executed for the
benefit of the Bank, as same may be amended, restated, supplemented or modified, from time to time.

 

“LIBOR
Rate” shall mean, as of any date of determination, the rate of interest rounded upwards (the “Rounding Adjustment”),
if necessary, to the next 1/8 of 1% (and adjusted for reserves if the Bank is required to maintain reserves with respect to
relevant advances) fixed by ICE Benchmark Administration Limited (or any successor thereto, or replacement thereof, approved by
the Bank, each an “Alternate LIBOR Source”) at approximately 11:00 a.m., London, England time (or the relevant
time established by ICE Benchmark Administration Limited, an Alternate LIBOR Source, or the Bank, as applicable), two Business
Days prior to such date of determination, relating to quotations for the one month London InterBank Offered Rates on U.S. Dollar
deposits, as displayed by Bloomberg LP (or any successor thereto, or replacement thereof, as approved by the Bank, each an “Approved
Bloomberg Successor”), or, if no longer displayed by Bloomberg LP (or any Approved Bloomberg Successor), such rate as
shall be determined in good faith by the Bank from such sources as it shall determine to be comparable to Bloomberg LP (or any
Approved Bloomberg Successor), all as determined by the Bank in accordance with the Bank’s loan systems and procedures periodically
in effect.

 

Notwithstanding
anything to the contrary contained herein, in no event shall the LIBOR Rate be less than 0% as of any date (the “LIBOR
Rate Minimum”); provided that, at any time during which a rate management agreement with the Bank is then in effect with
respect to all or a portion of the Obligations, the LIBOR Rate Minimum, the Rounding Adjustment and the Adjustment Protocol (as
defined below) shall all be disregarded and no longer of any force and effect with respect to such portion of the Obligations
subject to such Rate Management Agreement. Each determination by the Bank of the LIBOR Rate shall be binding and conclusive in
the absence of manifest error. The LIBOR Rate shall be initially determined as of the date of the initial advance of funds to
Borrower under the Revolving Credit Note and shall be effective until the first Business Day of the month following the period
commencing on the date of such initial advance (such first Business Day being the “First Adjustment Date”). The
interest rate based upon the LIBOR Rate shall be adjusted automatically on the First Adjustment Date and on the first Business
Day of each month thereafter (the “Adjustment Protocol”).

 

Notwithstanding
anything herein contained to the contrary, if the Bank, by written or telephonic notice, notifies Borrowers that: (i) any
change in any law, regulation or official directive, or in the interpretation thereof, by any governmental body charged with
the administration thereof, has made it unlawful for the Bank to fund or maintain its funding in Eurodollars of any portion
of any advance subject to the LIBOR Rate or otherwise give effect to the Bank’s obligations as contemplated hereby; or (i)
(a) LIBOR deposits for periods of one month are not readily available in the London Interbank Offered Rate Market, (b) by
reason of circumstances affecting such market or other economic conditions, adequate and reasonable methods do not exist for
ascertaining the rate of interest applicable to such deposits, or (iii) the LIBOR Rate as determined by the Bank will not
adequately and fairly reflect the cost to the Bank of making or maintaining advances bearing interest with reference to the
LIBOR Rate (including inaccurate or inadequate reflection of actual costs resulting from the calculation of rates by
reporting sources), then, in any of such events: (A) the Bank’s obligations in respect of the LIBOR Rate shall terminate
forthwith, (B) the LIBOR Rate with respect to the Bank shall forthwith cease to be in effect, (C) the affected Borrower’s
right to utilize LIBOR Rate index pricing as set forth in this Agreement and the Note in question shall be terminated
forthwith, and (D) amounts outstanding under said Note shall, on and after such date, bear interest at a rate per annum equal
to: (1) 0.5% plus (2) the floating rate of interest established from time to time by the Bank at its principal office
as its “Prime Rate”, whether or not the Bank shall at times lend to borrowers at lower rates of interest or,
if there is no such Prime Rate, then such other rate as may be substituted by the Bank for such Prime Rate. Each
determination by the Bank of the Prime Rate shall be binding and conclusive in the absence of manifest error. In the event of
a change in the Prime Rate, the interest rate accruing hereunder based upon the Prime Rate shall be changed immediately
with such change to be based upon such new Prime Rate.

  

    	 	8	 

     

    

 

“Lien”
shall mean any lien (statutory or otherwise), security interest, mortgage, deed of trust, pledge, charge, conditional sale, title
retention agreement, Capital Lease or other encumbrance or similar right of others, or any agreement to give any of the foregoing.

 

“Loans”
shall mean, collectively, the Revolving Credit Loans, the Real Estate Loan, and any other loans and advances made by the Bank
pursuant to this Agreement.

 

“Loan
Documents” shall mean, collectively, this Agreement, the Notes, the Security Documents, Hedge Agreements, and each other
agreement executed in connection with the transactions contemplated hereby or thereby.

 

“London
Business Day” shall mean any day on which commercial banks in London, England are open for general business.

 

“Material
Adverse Effect” shall mean a material adverse effect on (i) the business, operations, properties or condition (financial
or otherwise) of the Borrower Group, or (ii) the ability of the Borrower Group to perform any of its material obligations under
any Loan Document to which it is a party.

 

“Material
Contract” shall mean, with respect to any Person, each contract, instrument or agreement to which such Person is a party
which is material to the business, operations, properties, prospects or condition (financial or otherwise) of such Person or which,
if terminated, could reasonably be expected to result in a Material Adverse Effect.

 

“MEPP”
shall mean a Canadian Benefit Plan which is a multi-employer pension plan, as that term is defined by Canadian Pension Legislation.

 

“Mortgage”
shall mean that certain first priority mortgage and assignment of leases and rents with respect to the Mortgaged Premises, executed
and delivered to the Bank by the RE Borrower, as the same may be amended, supplemented, modified, or restated from time to time.

 

“Mortgaged
Premises” shall mean the real property described in the Mortgage.

 

“Net
Income” shall mean, for any period, the net income (or net loss) for such period calculated in accordance with GAAP applied
on a consistent basis.

 

“Notes”
shall mean the Revolving Credit Note and the Real Estate Note.

 

“Notice
of Revolving Credit Loan Borrowing” shall mean the Notice of Revolving Credit Loan Borrowing substantially in the form
attached hereto as Exhibit A.

 

“Obligations”
shall mean the RLOC Obligations and the Real Estate Obligations.

 

“Operating
Accounts” shall mean RLOC Borrower’s account #7434398447 at the Bank, or any other account at the Bank maintained
by a member of Borrower Group as designated by the Borrowers from time to time, into which (i) Bank shall credit the proceeds
from each Loan hereunder; and (ii) all payments made to Borrower Group shall be deposited, wired or ACH’d.

  

    	 	9	 

     

    

 

“Payment
Office” shall mean the Bank’s office located at 2333 Ponce de Leon Blvd, Suite 303, Coral Gables, FL 33134, Attention:
Commercial Loan Administration, or such other office hereinafter designated by the Bank as its Payment Office.

 

“PBGC”
shall mean the Pension Benefit Guaranty Corporation established pursuant to Section 4002 of ERISA, or any successor thereto.

 

“Permitted
Liens” shall have the meaning set forth in Section 7.1.

 

“Person”
shall mean any natural person, corporation, limited liability company, limited liability partnership, business trust, joint venture,
association, company, partnership or Governmental Authority.

 

“Plan”
shall mean any multi-employer or single-employer plan defined in Section 4001 of ERISA which is subject to Title IV of ERISA,
which is maintained, or at any time during the five calendar years preceding the date of this Agreement was maintained for employees
of the Borrower Group or an ERISA Affiliate.

 

“Purchase
Agreement” shall have the meaning set forth in Section 5.1(1).

 

“Real Estate Loan” shall have the meaning
set forth in Section 2.3(a).

 

“Real Estate Note” shall have the meaning set forth in Section 2.3(b).

 

“Real
Estate Obligations” shall mean (i) all obligations, liabilities and indebtedness of the RE Borrower to the Bank, whether
now existing or hereafter created, absolute or contingent, direct or indirect, due or not, arising under this Agreement, the Real
Estate Note or any other Loan Document, including, without limitation, all obligations, liabilities and indebtedness of the RE
Borrower with respect to the principal of and interest on the Real Estate Loans, (ii) any Banking Services Obligations of the
RE Borrower, and (iii) all fees, costs, expenses and indemnity obligations of the RE Borrower hereunder or under any other Loan
Document.

 

“Regulation
D” shall mean Regulation D of the Board of Governors of the Federal Reserve System as the same may be amended or supplemented
from time to time.

 

“Reportable
Event” shall mean an event described in Section 4043(c) of ERISA with respect to a Plan as to which the 30-day notice
requirement has not been waived by the PBGC.

 

“Revolving
Credit Loan” shall have the meaning set forth in Section 2.1.

 

“Revolving
Credit Note” shall mean that certain Revolving Credit Note dated October 4, 2017, issued by Jacoby to the Bank, as amended
and restated by that certain Amended and Restated Revolving Credit Note dated August 23, 2018, issued by the RLOC Borrower to
the Bank, as same may be amended, restated, supplemented or modified, from time to time.

 

“RLOC
Obligations” shall mean (i) all obligations, liabilities and indebtedness of the RLOC Borrower to the Bank, whether
now existing or hereafter created, absolute or contingent, direct or indirect, due or not, arising under this Agreement, the
Revolving Credit Note or any other Loan Document, including, without limitation, all obligations, liabilities and
indebtedness of the RLOC Borrower with respect to the principal of and interest on the Revolving Credit Loans, (ii) any
Banking Services Obligations of the RLOC Borrower, and (iii) all fees, costs, expenses and indemnity obligations of the RLOC
Borrower hereunder or under any other Loan Document.

  

    	 	10	 

     

    

 

“Security
Agreements” shall mean the Security Agreements executed by the Borrowers and each entity Guarantor, for the benefit of
the Bank, as same may be amended, restated, supplemented or modified, from time to time.

 

“Security
Documents” shall mean, collectively, the Security Agreements, the Guaranties, the Mortgage, the Subordination, Non-Disturbance
and Attornment Agreements, the Landlord Waivers, and each other collateral security document delivered to the Bank hereunder.

 

“Subordinated
Debt” shall mean all Indebtedness which is subordinated in right of payment to the payment of the Obligations on terms
set forth in a subordination agreement that is reasonably satisfactory to the Bank.

 

“Subordination,
Non-Disturbance and Attornment Agreement” shall mean those certain Subordination, Non-Disturbance and Attornment Agreements
to be executed and delivered by each of the Tenants and the Bank, as the same may be amended, restated, supplemented or modified
from time to time.

 

“Tenants”
shall mean the following tenants of the Mortgaged Premises: Active Data Technologies, Inc.; BMI Elite Holdings, LLC; A Better
Process, Inc.; Visually, Inc. (via merger with ION Interactive, Inc.), and; 4Voice, LLC.

 

“Unfunded
Current Liability” of any Plan shall mean the amount, if any, by which the present value of the accrued benefits under
the Plan as of the close of its most recent plan year exceeds the fair market value of the assets allocable thereto, determined
in accordance with Section 412 of the Code.

 

Section
1.2. Construction. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, pronouns stated in the masculine, feminine or neuter gender shall include the masculine,
feminine and the neuter. The term “including” shall not be limited or exclusive, unless specifically indicated to
the contrary. The word “will” shall be construed to have the same meaning in effect as the word “shall”.
The words “herein”, “hereof’ and “hereunder” and other words of similar import refer to this
Agreement as a whole, including the exhibits and schedules hereto, all of which are by this reference incorporated into this Agreement.

 

Section
1.3. Accounting Terms. Except as otherwise herein specifically provided, each accounting term used herein shall have
the meaning given to it under GAAP. “GAAP” shall mean those generally accepted accounting principles and practices
which are recognized as such by the American Institute of Certified Public Accountants acting through the Financial Accounting
Standards Board (“FASB”) or through other appropriate boards or committees thereof, except that any accounting principle
or practice required, in the good faith opinion of the CPA, to be changed by the FASB (or other appropriate board or committee
of the FASB) in order to continue as a generally accepted accounting principle or practice may be so changed. Any dispute or disagreement
between the Borrower and the Bank relating to the determination of GAAP shall, in the absence of manifest error, be conclusively
resolved for all purposes hereof by a written opinion with respect thereto delivered to the Bank by the CPA.

  

    	 	11	 

     

    

 

ARTICLE
II

LOANS

  

Section
2.1. Revolving Credit Loans.

 

(a)
Subject to the terms and conditions, and relying upon the representations and warranties, set forth herein, the Bank agrees to
make loans (individually a “Revolving Credit Loan” and, collectively, the “Revolving Credit Loans”)
to the RLOC Borrower at any time or from time to time on or after the date hereof and until the Commitment Termination Date, provided, however,
that no Revolving Credit Loan shall be made if, after giving effect to such Revolving Credit Loan, the aggregate outstanding principal
amount of all Revolving Credit Loans would exceed the lesser of the Commitment or the Borrowing Base in effect at such time. During
the Commitment Period, the RLOC Borrower may from time to time borrow, repay and reborrow hereunder, subject to the terms, provisions
and limitations set forth herein.

 

(b) The
RLOC Borrower shall, not later than 10:00 a.m., Miami, Florida time, on the date of each proposed Revolving Credit Loan under
this Section 2.1, deliver to the Bank a duly completed Notice of Revolving Credit Loan Borrowing, executed by an Executive Officer
of RLOC Borrower. Such notice shall be irrevocable.

 

(c) The
Commitment shall automatically terminate on the Commitment Termination Date. Upon such termination, the RLOC Borrower shall immediately
repay in full the principal amount of the Revolving Credit Loans then outstanding, together with all accrued and unpaid interest
thereon and all other amounts due and payable hereunder.

 

Section
2.2. Revolving Credit Note. The Revolving Credit Loans made by the Bank shall be

 

evidenced
by the Revolving Credit Note. RLOC Borrower shall be liable for all amounts outstanding under the Revolving Credit Note. The date
and amount of each Revolving Credit Loan and the date and amount of each payment or prepayment of principal of each Revolving
Credit Loan may be recorded on the grid schedule annexed to the Revolving Credit Note, and the RLOC Borrower authorizes the Bank
to make such recordation; provided, however, that the failure of the Bank to set forth each such Revolving
Credit Loan, payment and other information on such grid shall not in any manner affect the obligation of the RLOC Borrower to
repay each Revolving Credit Loan made by the Bank in accordance with the terms of the Revolving Credit Note and this Agreement.
The Revolving Credit Note and the books and records of the Bank shall constitute conclusive evidence of the information so recorded
absent manifest error. The aggregate unpaid amount of the Revolving Credit Loans of the Bank at any time shall be the principal
amount owing on the Revolving Credit Note of the RLOC Borrower at such time.

 

Section
2.3. Real Estate Loan.

 

(a) Subject
to the terms and conditions and relying upon the representations and warranties set forth herein, the Bank agrees to make a term
loan (“Real Estate Loan”) to the RE Borrower on the Closing Date in the amount of Eight Million Five Hundred
Thousand ($8,500,000) Dollars. Upon repayment of any principal amount of the Real Estate Loan, the RE Borrower may not re-borrow
such amount under the Real Estate Loan.

 

(b) The
Real Estate Loan made by the Bank shall be evidenced by the Real Estate Note payable to the Bank in an original principal amount
equal to Eight Million Five Hundred Thousand ($8,500,000) Dollars, appropriately completed, duly executed and delivered on behalf
of the RE Borrower, as the same may be amended, supplemented, modified, or restated from time to time (the “Real Estate
Note”). The RE Borrower shall be liable for all amounts outstanding under the Real Estate Note. Payments of principal
and interest with respect to the Real Estate Loan shall be made in accordance with the terms and provisions of the Real Estate
Note.

  

    	 	12	 

     

    

 

(c) Subject
to the RE Borrower’s right to contest same in accordance with Section 7.1 hereof, the RE Borrower shall pay all real estate taxes
and assessments on or for the Mortgaged Premises prior to delinquency or imposition of a penalty or interest. In addition, the
RE Borrower shall, within thirty (30) days after the date of such delinquency deliver to the Bank copies of receipts or cancelled
checks evidencing the payment of the same. The RE Borrower shall pay all insurance premiums on or for the Mortgaged Premises prior
to such premiums becoming due and payable due and shall promptly provide to Bank evidence of such payment. Upon the request of
the Bank after the occurrence and during the continuance of an Event of Default, the Bank shall have the right to promptly require
the RE Borrower to escrow with the Bank sums necessary for the annual payment of (i) the real estate taxes and assessments on
or for the Mortgaged Premises (taking into account any discounts) and (ii) insurance premiums for the Mortgaged Premises. To the
extent the Bank shall require the RE Borrower to escrow with the Bank sums necessary for the annual payment of the real estate
taxes, assessments and insurance premiums on or for the Mortgaged Premises pursuant to the terms and conditions of this section,
in addition to the monthly payments set forth in the Real Estate Note, the RE Borrower shall pay to the Bank on the first (1st)
day of each calendar month an amount equal to one twelfth (1/12) of the annual real estate taxes, assessments and insurance premiums
on or for the Mortgaged Premises, as estimated by the Bank in its reasonable discretion, which Bank shall make available to the
RE Borrower to pay such real estate taxes, assessments and insurance premiums. No interest shall be paid on such funds. Upon the
Event of Default being cured, any amounts held by Bank under this Section 2.3(c) shall be promptly returned by Bank to the RE
Borrower.

 

ARTICLE
III

INTEREST
RATE; FEES AND PAYMENTS; USE OF PROCEEDS

 

Section
3.1. Interest Rates.

 

(a) Base
Interest Rates.

 

(i) Revolving
Credit Loan. The Revolving Credit Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal
to the LIBOR Rate plus three and one-half (3.50%) percent. The interest rate shall be adjusted pursuant to the Adjustment
Protocol.

 

(ii) Real
Estate Credit Loan. The Real Estate Loan shall bear interest on the unpaid principal amount thereof at a rate per annum equal
to the LIBOR Rate plus two and 39/100 (2.39%) percent. The interest rate shall be adjusted pursuant to the Adjustment Protocol.

 

(b) Default
Interest Rates. Upon the occurrence and during the continuance of an Event of Default, the outstanding principal
amount of each Loan, shall, at the option of the Bank, bear interest payable on demand, at a rate per annum equal to rate set
forth under Section 3.1(a) plus five (5.00%) percent per annum.

 

(c) Late
Charges. A late charge of five (5.00%) percent shall be imposed on each and every payment required hereunder that is not
received by Bank within ten (10) days after it is due. The late charge is not a penalty, but liquidated damages to defray
administrative and related expenses due to such late payment. The late charge shall be immediately due and payable and shall
be paid by the Borrowers to the Bank without notice or demand. This provision for late charge is not and shall not be deemed
a grace period, and Bank has no obligation to accept a late payment. Further, the acceptance of a late payment shall not
constitute a waiver of any Event of Default then existing or thereafter arising.

  

    	 	13	 

     

    

 

(d)
Maximum Allowable Interest Rates. Anything in this Agreement or in the Notes to the contrary notwithstanding, the obligation
of the Borrowers to make payments of interest shall be subject to the limitation that payments of interest shall not be required
to be paid to the Bank to the extent that the charging or receipt thereof would not be permissible under the law or laws applicable
to the Bank limiting the rates of interest that may be charged or collected by the Bank. In each such event payments of interest
required to be paid to the Bank shall be calculated at the highest rate permitted by applicable law until such time as the rates
of interest required hereunder may lawfully be charged and collected by the Bank. If the provisions of this Agreement or the Notes
would at any time otherwise require payment by the Borrowers to the Bank of any amount of interest in excess of the maximum amount
then permitted by applicable law, the interest payments to the Bank shall be reduced to the extent necessary so that the Bank
shall not receive interest in excess of such maximum amount. Any amount paid or collected by the Bank as interest which would
be in excess of the amount permitted by applicable law shall be deemed applied to the reduction of the principal balance of the
Obligations and not to the payment of interest, but if such Obligations have been or are thereby paid in full, the excess shall
be returned to the Borrowers, such application to the principal balance of the Obligations or the refunding of excess to be a
complete settlement and acquittance thereof.

 

(e)
Interest Rate Calculations. Interest on each Loan shall be calculated on the basis of a year of three hundred sixty (360)
days and shall be payable for the actual days elapsed. Each determination by the Bank of an interest rate or fee hereunder shall,
absent manifest error, be conclusive and binding for all purposes, so long as such determination is made on a reasonable basis
and in good faith.

 

Section
3.2. Use of Proceeds. The proceeds of the Revolving Credit Loans shall be used by the RLOC Borrower to finance the
RLOC Borrower’s general working capital requirements in the ordinary course of business, and the proceeds of the Real Estate
Loan shall be used by the RE Borrower to partially fund the purchase of the Mortgaged Premises.

 

Section
3.3. Prepayments; Termination of Commitment.

 

(a) The
Borrowers may prepay from time to time the then outstanding Loans, in whole or in part, without premium or penalty, upon irrevocable
written notice to the Bank, specifying the date and amount of repayment. If such notice is given, the Borrowers shall make such
repayment and the repayment amount specified in such notice shall be due and payable, on the date specified therein, together
with accrued and unpaid interest to such date on the amount repaid to the Bank. Notwithstanding the foregoing, a notice of prepayment
of the Obligations delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit
facilities or securities offerings, in which case if such condition is not satisfied (i) such notice may be revoked by the Borrowers
(by notice to the Bank on or prior to the specified effective date) or (ii) with the consent of the Bank (not to be unreasonably
withheld, delayed or conditioned), the repayment date set forth in such notice may be extended.

 

(b) To
the extent that the aggregate outstanding principal amount of Revolving Credit Loans exceeds the lesser of the Commitment and
the Borrowing Base as then in effect, the RLOC Borrower shall, within five (5) Business Days, prepay the Revolving Credit Loans
to the extent necessary to cause compliance therewith.

 

(c) Each
prepayment of principal of a Loan pursuant to this Section 3.3 shall be accompanied by accrued and unpaid interest on the amount
prepaid through the date of prepayment.

  

    	 	14	 

     

    

 

Section
3.4. Fees. The Borrowers shall pay the Bank a one-time facility fee on the Real Estate Loan in the amount of Twenty-One
Thousand Two Hundred Fifty ($21,250) Dollars. The Bank acknowledges that Fifteen Thousand ($15,000) Dollars in respect of such
fee has previously been paid by the Borrowers.

 

Section
3.5. Other Events.

 

(a) In
the event that any introduction of or change in, on or after the date hereof, any applicable law, regulation, treaty, order, directive
or in the interpretation or application thereof (including, without limitation, any request, guideline or policy, whether or not
having the force of law, of or from any central bank or other governmental authority, agency or instrumentality and including,
without limitation, Regulation D), by any authority charged with the administration or interpretation thereof shall occur, which:
(i) shall subject the Bank to any tax of any kind whatsoever with respect to this Agreement, the Notes, the Loans, or change the
basis of taxation of payments to the Bank of principal, interest, fees or any other amount payable hereunder (other than any tax
that is measured with respect to the overall net income of the Bank or lending office of the Bank and that is imposed by the United
States of America, or any political subdivision or taxing authority thereof or therein, or by any jurisdiction in which the Bank’s
lending office is located, or by any jurisdiction in which the Bank is organized, has its principal office or is managed and controlled);
or (ii) shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement (whether
or not having the force of law) against assets held by, or deposits or other liabilities in or for the account of, advances or
loans by, or other credit extended by, or any other acquisition of funds by, any office of the Bank; or (iii) shall impose on
the Bank any other condition, or change therein directly relating to this Agreement, the Notes or the Loans; and the result of
any of the foregoing is to increase the cost to the Bank of making, renewing or maintaining or participating in advances or extensions
of credit hereunder or to reduce any amount receivable hereunder, in each case by an amount which the Bank reasonably deems material,
then, in any such case, the Borrowers shall pay the Bank, upon demand, such additional amount or amounts as will reimburse the
Bank for such increased costs or reduction.

 

(b) If
the Bank shall have determined in its reasonable discretion that the adoption of any applicable law, rule or regulation regarding
capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any governmental authority,
central bank or comparable agency charged with the interpretation or administration thereof, or compliance by the Bank (or any
lending office of the Bank) or the Bank’s holding company, with any request or directive regarding capital adequacy (whether or
not having the force of the law) of any such authority, central bank or comparable agency, has or would have the effect of reducing
the rate of return on the Bank’s capital or on the capital of the Bank’s holding company as a consequence of its obligations hereunder
to a level below that which the Bank could have achieved but for such adoption, change or compliance (taking into consideration
the Bank’s policies and the policies of the Bank’s holding company with respect to capital adequacy) by an amount reasonably deemed
by the Bank to be material, then from time to time, the Borrowers shall pay to the Bank, the additional amount or amounts as will
reimburse the Bank or the Bank’s holding company for such reduction directly relating to this Agreement, the Notes or the Loans.

 

(c) A
certificate of the Bank prepared in good faith and setting forth the basis and calculation of any such determination, and the
amount or amounts payable pursuant to Sections 3.5(a) and 3.5(b) above, shall be conclusive absent manifest error. The Borrowers
shall pay the Bank the amount shown as due on any such certificate within thirty (30) days after receipt thereof.

  

    	 	15	 

     

    

 

Section
3.6. Taxes. Except as required by law, all payments made by the Borrowers under this Agreement shall be made free and
clear of, and without reduction for or on account of, any present or future taxes, levies, imposts, duties, charges, fees, deductions
or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority, excluding income
and franchise taxes imposed on the Bank by (a) the United States of America or any political subdivision or taxing authority thereof
or therein, (b) the jurisdiction under the laws of which the Bank is organized or in which it has its principal office or is managed
and controlled or any political subdivision or taxing authority thereof or therein, or (c) any jurisdiction in which the Bank’s
lending office is located or any political subdivision or taxing authority thereof or therein (such non-excluded taxes being called
“Taxes”). If any Taxes are required to be withheld from any amounts payable to the Bank hereunder, or under
the Notes, the amount so payable to the Bank shall be increased to the extent necessary to yield to the Bank (after payment of
all Taxes and free and clear of all liability in respect of such Taxes) interest or any such other amounts payable hereunder at
the rates or in the amounts specified in this Agreement and the Notes. If a Borrower fails to pay Taxes when due to the appropriate
taxing authority the Borrowers shall indemnify the Bank for any incremental taxes, interest or penalties that may become payable
by the Bank as a result of any such failure together with any actual expenses payable by the Bank in connection therewith.

 

Section
3.7. Disbursement of Loans. The Bank shall make the Loans available to the Borrowers by crediting an amount equal to
the Loan to the Operating Account designated by Borrowers from time to time, unless otherwise agreed upon by the parties hereto.

 

Section
3.8. Payments.

 

(a) All
payments (including prepayments) to be made by the Borrowers to the Bank on account of principal, interest, fees and reimbursement
obligations shall be made without set-off or counterclaim and shall be made to the Bank, at the Payment Office of the Bank in
Dollars in immediately available funds not later than 4:00 p.m., Ft. Lauderdale, Florida time, on the date on which they are payable.

 

(b) The
Bank may, in its sole discretion while an Event of Default has occurred and is continuing, but shall not be obligated to, directly
charge the Operating Account or one or more of the Borrowers other accounts at the Payment Office or other office of the Bank
for all interest and principal payments due in respect of the Loans and all fees payable hereunder. If any payment hereunder becomes
due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day.

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES

 

In
order to induce the Bank to enter into this Agreement and to make the Loans as provided herein, the Borrowers, jointly and severally,
represent and warrant to the Bank as follows:

 

Section
4.1. Organization, Corporate Powers, etc. Each member of the Borrower Group (a) is a limited liability company or corporation
duly formed, validly existing and in good standing under the laws of the State or Province in which it was formed, (b) has the
organizational power and authority to own properties and to carry on its business as now being conducted, (c) is duly qualified
to do business in every jurisdiction wherein the conduct of its business or the ownership of its properties are such as to require
such qualification except where the failure to be qualified could not reasonably be expected to have a Material Adverse Effect,
(d) has the organizational power to execute and perform each of the Loan Documents to which it is a party, (e) that is a Borrower
has the power to borrow hereunder and to execute and deliver the Notes, and (f) is in compliance with all applicable federal,
state and local laws, rules and regulations except where the failure to be in compliance could not reasonably be expected to have
a Material Adverse Effect.

  

    	 	16	 

     

    

 

Section
4.2. Authorization of Borrowing, Enforceable Obligations. The execution, delivery and performance by the Borrowers
of this Agreement, and by each member of the Borrower Group of the other Loan Documents to which any is a party, and the borrowings
by the Borrowers hereunder, (a) have been duly authorized by all requisite corporate or company action, (b) will not violate or
require any consent under the articles of organization, bylaws or other organizational documents of any member of the Borrower
Group, except such consents as shall have been delivered to the Bank at Closing, (c) will not violate or require any consent under
(i) any provision of law applicable to the Borrower Group, any governmental rule or regulation, except such consents as shall
have been delivered to the Bank at Closing, or (ii) any order of any court or other agency of government binding on any member
of the Borrower Group, any indenture, agreement or other instrument to which any member of Borrower Group is a party, or by which
any member of the Borrower Group or any of its property is bound, except in each case for such violations which individually or
in the aggregate could not reasonably be expected to result in a Material Adverse Effect, and (d) will not be in conflict with,
result in a breach of or constitute (with due notice and/or lapse of time) a default under, any such indenture, agreement or other
instrument, or result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the
property or assets of Borrower Group other than as contemplated by this Agreement or the other Loan Documents, except in each
case for such breaches and defaults which individually or in the aggregate could not reasonably be expected to result in a Material
Adverse Effect. This Agreement and each other Loan Document to which any member of the Borrower Group is a party constitutes a
legal, valid and binding obligation of said party, enforceable against said party in accordance with its terms, except as may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally and by general principles of equity.

 

Section
4.3. Financial Condition. The Borrowers have heretofore furnished to the Bank the (a) consolidated balance sheet of
the Borrower Group, the related consolidated statements of income and stockholders’ equity and cash flow of the Borrower
Group for the year ended December 31, 2017, audited by independent certified public accountants of recognized standing selected
by the Borrowers and reasonably satisfactory to the Bank (the “CPA”), and (b) unaudited consolidated balance
sheet of the Group, and the related consolidated statements of income, cash flow, and stockholders’ equity of the Borrower
Group, compiled by Borrowers’ management, for the six months ended June 30, 2018. Such financial statements were prepared
in conformity with GAAP consistently applied (except, with respect to the interim financial statements, for the absence of footnotes
and normal year-end adjustments) and fairly present the financial position and results of operations of the Borrower Group as
of the date of such financial statements and for the periods to which they relate and, since the date of such financial statements,
no material adverse change in the business, operations or assets or financial condition of the Borrower Group has occurred. There
are no material obligations or liabilities contingent or otherwise, of the Borrower Group which are not reflected on such statements
other than obligations incurred in the ordinary course of business since the date of such financial statements.

 

Section
4.4. Taxes. All assessed deficiencies resulting from Internal Revenue Service examinations of the federal income tax
returns of the Borrower Group have been discharged or reserved against in accordance with GAAP. The Borrowers have filed or caused
to be filed (after giving effect to any extensions actually filed) all federal income tax returns and all other material tax returns
that are required to be filed by any member of the Borrower Group, and has paid or has caused to be paid all taxes as shown on
said returns or on any assessment received by it, to the extent that such taxes have become due, except where such taxes are being
contested in good faith and have been reserved for in accordance with GAAP or for which the failure to make payment would not
reasonably be expected to result in a Material Adverse Effect.

  

    	 	17	 

     

    

 

Section
4.5. Title to Properties. Each member of the Borrower Group has good and marketable title to its properties and assets
necessary for the conduct of its business, except for such properties and assets as have been disposed of since the date of such
financial statements as no longer used or useful in the conduct of its business, as have been disposed of in the ordinary course
of business or as otherwise permitted by the Loan Documents, and all such properties and assets are free and clear of all Liens,
except Permitted Liens.

 

Section
4.6. Litigation. There are no actions, suits or proceedings (whether or not purportedly on behalf of the any member
of the Borrower Group) pending or, to the knowledge of the Borrowers, threatened against or affecting Borrower Group at law or
in equity or before or by any Governmental Authority, which involve any of the Loan Documents or which, if adversely determined
against any member of the Borrower Group, could reasonably be expected to result in a Material Adverse Effect; and no member of
the Borrower Group is in default with respect to any judgment, writ, injunction, decree, rule or regulation of any Governmental
Authority which default could reasonably be expected to result in a Material Adverse Effect.

 

Section
4.7. Agreements. No member of the Borrower Group is subject to any charter or other corporate restriction or any judgment,
order, writ, injunction, decree or regulation which could reasonably be expected to have a Material Adverse Effect.

 

Section
4.8. Compliance with ERISA. Each Plan (if any) is in material compliance with ERISA; no Plan is insolvent or in reorganization,
no Plan has an Unfunded Current Liability, and no Plan has an accumulated or waived funding deficiency or permitted decreases
in its funding standard account within the meaning of Section 412 of the Code; no member of the Borrower Group nor any ERISA Affiliate
has incurred any material liability to or on account of a Plan pursuant to Section 4062, 4063, 4064, 4201 or 4204 of ERISA or
expects to incur any liability under any of the foregoing sections on account of the termination of participation in or contributions
to any such Plan, no proceedings have been instituted to terminate any Plan, no condition known to Borrowers exists which presents
a material risk to a member of the Borrower Group of incurring a liability to or on account of a Plan pursuant to the foregoing
provisions of ERISA and the Code; no lien imposed under the Code or ERISA on the assets of the Borrower Group exists or is likely
to arise on account of any Plan; and the Borrower Group may terminate contributions to any other employee benefit plans maintained
by it without incurring any material liability to any person interested therein, excluding welfare benefits payable to employees
or former employees of Borrower Group in the ordinary course of business.

 

Section
4.9. Federal Reserve Regulations; Use of Proceeds.

 

(a) Borrower
Group is not engaged principally in, nor has as one of its important activities, the business of extending credit for the purpose
of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal
Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrowers will furnish to the
Bank such a statement on Federal Reserve Form U-1.

 

(b) No
part of the proceeds of any Loan will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately,
(i) to purchase or to carry margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock,
or to refund indebtedness originally incurred for such purposes, or (ii) for any purpose which violates or is inconsistent with
the provisions of the Regulations T, U, or X of the Board of Governors of The Federal Reserve System.

 

(c) The
proceeds of each Loan shall be used solely for the purposes permitted under Section 3.2.

  

    	 	18	 

     

    

 

Section
4.10. Approvals. As of the Closing Date, no registration with or consent or approval of, or other action by, any Governmental
Authority or any other Person is required in connection with the execution, delivery and performance of this Agreement or the
other Loan Documents by the Borrower Group, except such as has been delivered by Borrowers at Closing.

 

Section
4.11. Capitalization. As of the Closing Date: (a) the membership interests of the RLOC Borrower are held beneficially
and of record by Adam Schoenfeld, Jacoby, Better Life Products, Inc., and Rochester Vapor Group, LLC, which membership interests
are validly issued, outstanding, fully paid and non-assessable (to the extent applicable); and (b) the membership interests of
the RE Borrower are held beneficially and of record by Warehouse Goods LLC, which membership interests are validly issued, outstanding,
fully paid and non-assessable (to the extent applicable). Each entity Guarantor is a direct or indirect wholly owned subsidiary
of the RLOC Borrower. RLOC Borrower owns beneficially all of the issued and outstanding equity interests or stock, as the case
may be, of each entity Guarantor, which securities are validly issued, outstanding, fully paid and non-assessable (to the extent
applicable). The equity interests of each Guarantor that is a limited liability company are uncertificated securities, and will
remain such at all times this Agreement remains in effect.

 

Section
4.12. Hazardous Materials. To the best knowledge of the Borrowers, (a) the Borrower Group is in compliance with all
federal, state or local laws, ordinances, rules, regulations or policies governing Hazardous Materials, (b) Borrower Group has
not used Hazardous Materials on, from, or affecting any property now owned or occupied or hereafter owned or occupied by the Borrower
Group in any manner which violates federal, state or local laws, ordinances, rules, regulations, or policies governing the use,
storage, treatment, transportation, manufacture, refinement, handling, production or disposal of Hazardous Materials and (c) no
prior owner of any such property or any tenant, subtenant, prior tenant or prior subtenant have used Hazardous Materials on, from,
or affecting such property in any manner which violates federal, state or local laws, ordinances, rules, regulations, or policies
governing the use, storage, treatment, transportation, manufacture, refinement, handling, production or disposal of Hazardous
Materials, except, in the case of clauses (a), (b) and (c) of this Section, where failure to so comply could not reasonably be
expected to have a Material Adverse Effect.

 

Section
4.13. Investment Company Act. No member of Borrower Group is an “investment company”, or a company “controlled”
by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended.

 

Section
4.14. Security Document. Each Security Document shall constitute a valid and continuing lien on and security interest
in the collateral referred to in such Security Document in favor of the Bank which shall be, upon the filing of the Uniform Commercial
Code financing statements and Personal Property Security Act financing statements delivered on the Closing Date on behalf of Borrower
Group at the Florida Secured Transactions Registry and Ontario, to the extent such lien may be perfected by the filing of a financing
statement under the applicable Uniform Commercial Code or Personal Property Security Act, prior to all other Liens, claims and
right of all other Persons other than Permitted Liens, and shall be enforceable as such against all other Persons other than the
holders of Permitted Liens.

 

Section
4.15. No Default or Event of Default. No Default or an Event of Default has occurred and is continuing.

 

Section
4.16. Material Contracts. Each Material Contract of any member of Borrower Group (a) is in full force and effect and
is binding upon and enforceable, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, against said
party, as the case may be, and, to the knowledge of the Borrowers, all other parties thereto in accordance with its terms, and
(b) to the knowledge of Borrowers, there exists no default under any Material Contract by any member of Borrower Group or, to
the knowledge of the Borrowers, by any other party thereto, which in either case could reasonably be expected to have a Material
Adverse Effect.

  

    	 	19	 

     

    

 

Section
4.17. Permits and Licenses. Borrower Group has all licenses, permits, franchises, or other governmental authorizations
necessary to the ownership of its property or to the conduct of its activities, and shall obtain all such licenses, permits, franchises,
or other governmental authorizations as may be required in the future, except where the failure to have or maintain any such license,
permit, franchise or other governmental authorization could not reasonably be expected to have a Material Adverse Effect.

 

Section
4.18. Canadian Pension Plan and Benefit Plan Compliance. None of the Canadian Benefit Plans is a defined benefit plan
or contain a defined benefit component. The Canadian Pension Plans are duly registered under the Income Tax Act (Canada) and Canadian
Pension Legislation. Each member of Borrower Group and, to the best knowledge of the Borrower, each funding agent of a Canadian
Benefit Plan, has complied with and performed all of its obligations under and in respect of the Canadian Benefit Plans under
the terms thereof, any funding agreement and all applicable laws. All employer and employee contributions or premiums to be remitted
or paid to or in respect of each Canadian Benefit Plan have been remitted or paid in a timely fashion in accordance with the terms
thereof, any funding agreement and all applicable laws. There have been no improper withdrawals or applications of the assets
of any Canadian Benefit Plan, and there are no actions, suits or claims (other than routine claims for benefits) pending or threatened
against any Canadian Benefit Plan or its assets, and no facts exist which could give rise to any such actions, suits or claims
that might have a Material Adverse Effect.

 

Section
4.19. Anti-Terrorism Laws.

 

(a) No
member of Borrower Group, nor an Affiliate of any the foregoing, is in violation of any Anti-Terrorism Law or engages in or conspires
to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of
the prohibitions set forth in any Anti-Terrorism Law.

 

(b)
No member of Borrower Group, nor any Affiliate of any of the foregoing, or to her/his/its knowledge, its respective agents acting
or benefiting in any capacity in connection with the Loans or other transactions hereunder, is any of the following (each a “Blocked
Person”): (i) a Person that is listed in the annex to, or is otherwise subject to the provisions of, the Executive Order;
(ii) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise
subject to the provisions of, the Executive Order; (iii) a Person with which the Bank is prohibited from dealing or otherwise
engaging in any transaction by any Anti-Terrorism Law; (iv) a Person that commits, threatens or conspires to commit or supports
“terrorism” as defined in the Executive Order; (v) a Person that is named as a “specially designated national”
on the most current list published by the U.S. Treasury Department Office of Foreign Asset Control at its official website or
any replacement website or other replacement official publication of such list; or (vi) a Person who is affiliated or associated
with a person or entity listed above.

 

(c) No
member of Borrower Group, nor to the knowledge of Borrowers any of its or their agents acting in any capacity in connection with
the Loans or other transactions hereunder (i) conducts any business or engages in making or receiving any contribution of funds,
goods or services to or for the benefit of any Blocked Person, or (ii) deals in, or otherwise engages in any transaction relating
to, any property or interests in property blocked pursuant to the Executive Order.

 

    	 	20	 

     

    

 

Section
4.20. Disclosure. All information heretofore furnished in writing by the Borrowers for purposes of or in connection
with this Agreement or any other Loan Document was, and all such information hereafter furnished in writing by the Borrowers will
be, in each case considered as a whole, true and accurate in all material respects on the date as of which such information is
stated or certified. Notwithstanding the forgoing, no representation or warranty is given herein with respect to any projections
other than that the information contained therein was based upon good faith estimates and assumptions believed to be reasonable
at the time made, it being recognized by the Bank that such projections as to future events are not to be viewed as fact and that
actual results during the period or periods covered by any such projections may differ from the projected results.

 

ARTICLE
V

CONDITIONS
OF LENDING

 

Section
5.1. Conditions To Real Estate Loan. The obligation of the Bank to make the Real Estate Loan hereunder is
subject to the following conditions precedent:

 

(a)
Note. On or prior to the Closing Date the Bank shall have received the Real Estate Note duly executed by the RE
Borrower.

 

(b)
Other Loan Documents. On or prior to the Closing Date, the Bank shall have received (i) the Security Documents duly
executed by the Borrowers and the other signatories thereto; (ii) UCC-1 financing statements and PPSA financing statements, as
the case may be, from Borrowers and each entity Guarantor, in a form deemed satisfactory by Bank; and (iii) each other Loan Document,
duly executed by the signatories thereto.

 

(c)
Supporting Documents. The Bank shall have received, on or prior to the Closing Date from each member of Borrower
Group: (i) a certificate of an Executive Officer or manager, as the case may be, of such entity, dated the Closing Date and certifying
(a) that attached thereto is a true and complete copy (including any amendments thereto) of the articles of incorporation, articles
of organization, bylaws, and operating agreement, as the case may be, of such entity; (b) that attached thereto is a true and
complete copy of resolutions adopted by the Board of Directors or managers, as the case may be, of such entity, authorizing the
execution, delivery and performance of this Agreement and of each Loan Document to be delivered on the Closing Date to which it
is a party and the borrowings hereunder; and (c) the incumbency and specimen signature of each Executive Officer or manager, as
the case may be, of such entity executing each Loan Document and any certificates or instruments furnished pursuant hereto or
thereto; and (ii) such other documents as the Bank may reasonably request.

 

(d)
No Material Adverse Effect. There shall not have occurred any Material Adverse Effect since June 30, 2018.

 

(e) Fees. The
Borrowers shall have paid Bank (i) all reasonable, out-of-pocket and documented costs and expenses actually incurred by the
Bank in connection with the negotiation, preparation and execution of the Loan Documents (including, without limitation, such
costs and expenses constituting fees and expenses of counsel), and (ii) all fees set forth in Section 3.4 of this
Agreement.

 

(f) Assets
Free from Liens. Concurrent with or prior to the Closing, the Borrowers shall deliver to the Bank
UCC-3’s terminating all UCC-1 financing statements filed against the assets of Borrowers or any entity Guarantor
evidencing Liens that are not Permitted Liens.

  

    	 	21	 

     

    

 

(g)
Compliance With Governmental Requirements. The intended use of the Mortgaged Premises complies in all material respects
with all applicable Governmental Requirements and all restrictive covenants applicable to the Borrowers.

 

(h)
Insurance. The Borrowers shall have provided (i) evidence of insurance in such form as the Bank may reasonably require
evidencing property and hazard insurance, public liability, loss of rents/business interruption (12 months) and flood (if applicable)
and with respect to the Mortgaged Premises, as required pursuant to the terms of this Agreement and the Mortgage, and (ii) evidence,
in form and substance reasonably satisfactory to the Bank, that the Bank has been named mortgagee, lender’s loss payee,
additional insured, and certificate holder, as applicable, with respect to all policies of insurance covering the Mortgaged Premises.
All such policies of insurance shall be issued by insurance companies and in such amounts as the Bank may reasonably require,
and shall contain provisions for at least thirty (30) days’ notice to the Bank prior to cancellation or reduction of coverage
thereof.

 

(i)
Title Policy. The Borrowers shall have provided the Bank with a “marked–up” commitment to issue
a mortgagee’s policy of title insurance issued by a title insurer approved by the Bank (or a pro-forma of such policy),
insuring the Mortgage, in the principal amount of the Real Estate Note, without exception for filed or unfiled mechanics’
liens or claims or matters of survey (other than survey matters shown on the survey provided pursuant to clause (k) below) or
any other exception objectionable to the Bank, in its reasonable discretion, and with such endorsements as reasonably required
by the Bank.

 

(j)
Survey. The Bank shall have received an A.L.T.A. survey of the Mortgaged Premises prepared and certified by a registered
surveyor or engineer showing or locating thereon all improvements, easements, encroachments and other matters of record and inspection
on or in any way affecting the Mortgaged Premises, in form and substance satisfactory to the Bank in its reasonable discretion.

 

(k)
Pay-off Letter; Termination Statements; Release Statements and Satisfaction Pieces. The Borrowers shall have provided
the Bank with evidence reasonably satisfactory to the Bank that all necessary termination statements, release statements and mortgage
satisfaction pieces in connection with any and all Liens with respect to the Borrowers or the Mortgaged Premises that are not
Permitted Liens have been filed or satisfactory arrangements have been made for such filing (including payoff letters in form
and substance reasonably satisfactory to the Bank).

 

(1)
Purchase Agreement. The Bank shall have received a fully executed purchase agreement providing for the acquisition
of the Mortgaged Premises by the RE Borrower, and all amendments and supplements thereto (the “Purchase Agreement”),
which purchase agreement shall contain terms that are reasonably satisfactory to the Bank; all parties to the Purchase Agreement
shall be in compliance with the terms thereof; and RE Borrower shall have closed on the acquisition of the Mortgaged Premises
pursuant to the terms set forth in the Purchase Agreement.

 

(m) Other
Information, Documentation. The Bank shall receive such other and further information and documentation as it may
reasonably require.

 

Section
5.2. Conditions to All Loans. The obligation of the Bank to make each Loan hereunder is further subject to
the following conditions precedent:

 

(a) Representations
and Warranties. The representations and warranties by the Borrowers pursuant to this Agreement and the other Loan
Documents shall be true and correct in all material respects on and as of the Borrowing Date, with the same effect as though
such representations and warranties had been made on and as of such date unless such representation is as of a specific date,
in which case, as of such date.

  

    	 	22	 

     

    

 

(b) No
Default. No Default or Event of Default shall have occurred and be continuing on the Borrowing Date or will result
after giving effect to the Loan requested.

 

Each
borrowing hereunder shall constitute a representation and warranty of the Borrowers that the statements contained in clauses (a)
and (b) of this Section 5.2 are true and correct on and as of the Borrowing Date as though such representation and warranty had
been made on and as of such date.

 

ARTICLE
VI

AFFIRMATIVE
COVENANTS

 

Until
the Commitment Period has expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder
shall have been paid in full, each Borrower covenants and agrees with the Bank that each member of the Borrower Group will:

 

Section
6.1. Corporate Existence, Properties, etc. Do or cause to be done all things necessary to preserve and keep in
full force and effect its corporate or company existence and rights and comply with all laws applicable to it; at all times
maintain, preserve and protect all trade names necessary for the operation of its business and preserve all of its property
necessary in the conduct of its business and keep the same in good repair, working order and condition (normal wear and tear
excepted), and from time to time make, or cause to be made, all needful and proper repairs, renewals, replacements,
betterments and improvements thereto so that the business carried on in connection therewith may be properly conducted at all
times; at all times keep its insurable properties adequately insured and maintain (a) insurance to such extent and against
such risks, including fire, as Borrowers have in place on the Closing Date, (b) workmen’s compensation insurance in the
amount required by applicable law, (c) public liability insurance as Borrower Group has in place on the Closing Date, against
claims for personal injury or death on properties owned, occupied or controlled by it, (d) such other insurance as may be
required by law or as may be reasonably required by the Bank. Each such policy of insurance of the Borrower Group shall name
the Bank as lender loss payable with respect to business assets, lender loss payable and mortgagee with respect to real
estate, and as additional insured and loss payee with respect to vehicles, and shall provide for at least thirty (30) days’
prior written notice (or, with respect to non-payment, at least ten (10) days’ prior written notice) to the Bank of any
modification or cancellation of such policies. The Borrowers shall provide to the Bank promptly upon receipt thereof evidence
of the annual renewal of each such policy.

 

Section
6.2. Payment of Indebtedness, Taxes, etc.

 

(a) Pay
all Indebtedness and obligations, now existing or hereafter arising, as and when due and payable, except where (i) the validity,
amount, or timing thereof is being contested in good faith and by appropriate proceedings, which proceedings shall include good
faith negotiations, (ii) the Borrowers have set aside on their books adequate reserves with respect thereto in accordance with
GAAP, and (iii) the failure to make such payment pending such contest could not reasonably be expected to have a Material Adverse
Effect.

  

    	 	23	 

     

    

 

(b)
Pay and discharge or cause to be paid and discharged promptly all taxes, assessments and government charges or levies imposed
upon it or upon its income and profits, or upon any of its property, real, personal or mixed, or upon any part thereof, before
the same shall become in default, as well as all lawful claims for labor, materials and supplies or otherwise which, if unpaid,
might become a lien or charge upon such properties or any part thereof; provided, however, that the Borrowers
shall not be required to pay and discharge or cause to be paid and discharged any such tax, assessment, charge, levy or claim
so long as the validity thereof shall be contested in good faith by appropriate proceedings (which proceedings may include good
faith negotiations), and the Borrowers, shall have set aside on their books adequate reserves determined in accordance with GAAP
with respect to any such tax, assessment, charge, levy or claim so contested or the failure to make payment pending such contest
would not reasonably be expected to result in a Material Adverse Effect.

 

Section
6.3. Financial Statements, Tax Returns, Reports, etc.: Furnish to the Bank:

 

(a) within
one hundred twenty (120) days of the end of each calendar year, commencing with the calendar year ending December 31, 2018, the
consolidated and consolidating, unqualified financial statements of the Borrower Group which shall include the balance sheet of
the Borrower Group as of the end of such fiscal year, together with the statements of income, cash flow and stockholders’ equity
for the Borrower Group subsidiaries for such fiscal year and as of the end of and for the prior fiscal year, all prepared in accordance
with GAAP. The foregoing financial statements shall be audited by the CPA;

 

(b) within
forty-five (45) days of the end of each calendar quarter, the management-prepared and Executive Officer-certified consolidated
and consolidating financial statements of the Borrower Group which shall include the balance sheet of the Borrower Group as of
the end of such quarter, together with the statements of income, cash flow and stockholders’ equity for the Borrower Group for
such quarter and as of the end of and for the prior fiscal year, all prepared in accordance with GAAP (except for the absence
of footnotes and normal year-end adjustments);

 

(c) within
forty-five (45) days of the end of each calendar quarter, the management-prepared and Executive Officer-certified compliance certificate
which shall include covenant calculations and such other information as may be reasonably requested by the Bank;

 

(d) within
fifteen (15) days of the end of each month, a Borrowing Base Certificate with the requisite supporting documentation as required
thereby;

 

(e) within
fifteen (15) days of the end of each month, a report setting forth the aging of Eligible Receivables, Eligible Inventory and accounts
payable;

 

(f) tax
returns for each of Aaron LoCascio and Adam Schoenfeld, within thirty (30) days of the date the individual in question files his
tax returns. If a tax filing extension is filed, a copy thereof shall be provided to the Bank promptly;

 

(g) within
sixty (60) days of the end of each calendar year, a personal financial statement and liquid asset statement for each of Aaron
LoCascio and Adam Schoenfeld; and

 

(h) within
fifteen (15) days of the request, from time to time, such other material information regarding the operations, business affairs
and condition, financial or otherwise, of the Borrower Group as the Bank may reasonably request.

 

Section
6.4. Field Exam, Appraisals and Access to Premises and Records. Maintain financial records in accordance with
GAAP and permit representatives of the Bank to conduct annual field exams and inventory appraisals (at Borrowers’ expense)
during which the Bank shall have access during normal business hours to the premises of the Borrower Group upon reasonable
request, to examine and make excerpts from the minute books, books of accounts, reports and other records and to discuss the
affairs, finances and accounts of the Borrower Group with its Executive Officers or with its CPA, and to conduct such
additional field audits at the Borrowers’ expense, as such representatives reasonably deem necessary.

 

    	 	24	 

     

    

 

Section
6.5. Notice of Adverse Change. Promptly notify the Bank in writing of (a) any change in the business or the
operations which, in the good faith judgment of Borrowers’ Executive Officers, could reasonably be expected to have a
Material Adverse Effect, disclosing the nature thereof, and (b) any information which indicates that any financial statements
which are the subject of any representation contained in this Agreement, or which are furnished to the Bank pursuant to this
Agreement, failed, in any material respect, to present fairly the financial condition and results of operations purported to
be presented therein for the period covered thereby, disclosing the nature thereof.

 

Section
6.6. Notice of Default. Promptly notify the Bank of any Default or Event of Default which shall have occurred,
which notice shall include a written statement as to such occurrence, specifying the nature thereof and the action which is
proposed to be taken with respect thereto.

 

Section
6.7. Notice of Litigation. Give the Bank prompt written notice of any action, suit or proceeding at law or in
equity or by or before any governmental instrumentality or other agency (not previously disclosed to the Bank on or before
the Closing Date) which, if adversely determined against the Borrower Group on the basis of the allegations and information
set forth in the complaint or other notice of such action, suit or proceeding, or in the amendments thereof, if any, could
reasonably be expected to either (a) have a Material Adverse Effect; or (b) result in a judgment in excess of Five Hundred
Thousand ($500,000) Dollars.

 

Section
6.8. ERISA. Promptly deliver to the Bank a certificate by an Executive Officer of Borrowers setting forth
details as to such occurrence and such action, if any, which the Borrower Group or such ERISA Affiliate is required or
proposes to take, together with any notices required or proposed to be given to or filed with or by the Borrower Group, ERISA
Affiliate, the PBGC, a Plan participant or the Plan Administrator, with respect thereto: that a Reportable Event has
occurred, that an accumulated funding deficiency has been incurred or an application may be or has been made to the Secretary
of the Treasury for a waiver or modification of the minimum funding standard (including any required installment payments) or
an extension of any amortization period under Section 412 of the Code with respect to a Plan, that a Plan has been or may be
terminated, reorganized, partitioned or declared insolvent under Title IV of ERISA, that a Plan has an Unfunded Current
Liability giving rise to a lien under ERISA, that proceedings may be or have been instituted to terminate a Plan, that a
proceeding has been instituted pursuant to Section 515 of ERISA to collect a delinquent contribution to a Plan, or that the
Borrower Group or any ERISA Affiliate will or may incur any liability (including any contingent or secondary liability) to or
on account of the termination of or withdrawal from a Plan under Section 4062, 4063, 4064, 4201 or 4204 of ERISA. The
Borrowers will deliver to the Bank a complete copy of the annual report (Form 5500) of each Plan required to be filed with
the Internal Revenue Service. In addition to any certificates or notices delivered to the Bank pursuant to the first sentence
hereof, copies of annual reports and any other notices received by the Borrower Group required to be delivered to the Bank
hereunder shall be delivered to the Bank no later than ten (10) days after the later of the date such report or notice has
been filed with the Internal Revenue Service or the PBGC, given to Plan participants or received by the Borrower
Group.

 

Section
6.9. Default in Other Agreements. Promptly notify the Bank of any default in the performance, observance or
fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which any member
of Borrower Group is a party which could reasonably be expected to have a Material Adverse Effect.

  

    	 	25	 

     

    

 

Section
6.10. Banking Relationship. Maintain its primary commercial banking relationship with the Bank, including depository
and treasury management services, provided, however, the Borrower Group may maintain secondary commercial banking relationships
with other banks.

 

Section
6.11. Preservation of Business. Keep its business and properties necessary for the conduct of its business intact in
all material respects (normal wear and tear excepted), including its present operations, physical facilities, working conditions,
and relationships with suppliers and clients.

 

Section
6.12. Compliance with Laws; Pension Plans and Benefit Plans.

 

(a) For
each existing, or hereafter adopted, Canadian Benefit Plan, Borrower Group shall comply with and perform in all material respects
all of its obligations under and in respect of the Canadian Benefit Plans under the terms thereof, any funding agreement and all
applicable laws.

 

(b) All
employer and employee contributions or premiums to be remitted or paid to or in respect of each Canadian Benefit Plan shall be
remitted or paid in a timely fashion in accordance with the terms thereof, any funding agreement and all applicable laws.

 

(c) The
Borrowers shall deliver to the Bank (i) if requested by the Bank, copies of annual information returns, actuarial reports or other
valuations with respect to a Canadian Pension Plan filed with any applicable Governmental Authority; (ii) promptly after receipt
thereof, a copy of any direction, order, notice, ruling or opinion that Borrower Group may receive from any applicable Governmental
Authority with respect to any Canadian Pension Plan; (iii) notification within 30 days of any increases having a cost to the Borrower
Group in excess of $100,000 per annum in the aggregate, in the cost of providing the Canadian Benefit Plans, including the establishment
of any new Canadian Benefit Plan, or the commencement of contributions to any such plan to which Borrower Group was not previously
contributing; and (iv) notification, as soon as possible and in any event within 30 days, after Borrowers know or have reason
to know in the ordinary course of its business procedures that any of the following events or conditions have occurred or exist,
setting forth details respecting such event or condition and the action, if any, which the Borrowers propose to take with respect
thereto: (A) the institution by a pension regulator of proceedings under Canadian Pension Legislation for the termination, or
the appointment of an administrator, of a Canadian Pension Plan, or the occurrence of any event or condition which constitutes
grounds under applicable laws for the termination of, or the appointment of an administrator to administer, a Canadian Pension
Plan; (B) the withdrawal by the any member of the Borrower Group from a MEPP, or the receipt by the Borrower Group of information
to the effect that a MEPP will terminate or has terminated; (C) any occurrence or event that results, or could reasonably be expected
to result, in the loss of a Canadian Pension Plan’s registered status; (D) the failure to satisfy funding requirements under Canadian
Pension Legislation; (E) the cessation of operations at a facility where employees participating in a Canadian Pension Plan are
employed; and (F) the occurrence of an act or omission which is reasonably likely to give rise to the imposition on Borrower Group
of fines, penalties, taxes or related charges under Canadian Pension Legislation or the Income Tax Act (Canada).

 

Section
6.13. Further Assurances. Upon the request of the Bank from time to time, the Borrowers shall, at their expense, duly
execute and deliver, or cause to be duly executed and delivered, such further agreements, documents and instruments, and do or
cause to be done such further acts as may be reasonably necessary to evidence, perfect, maintain and enforce the security interests
and the priority thereof in the Collateral (as defined in the Security Agreements) and to otherwise effectuate the provisions
or purposes of this Agreement or any of the other Loan Documents.

  

    	 	26	 

     

    

 

ARTICLE
VII

NEGATIVE
COVENANTS

 

Until
the Commitment Period has expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder
shall have been paid in full, each Borrower covenants and agrees with the Bank that no member of Borrower Group will:

 

Section
7.1. Liens. Incur, create, assume or suffer to exist any Lien on any of its assets now or hereafter owned, other than
the following (collectively, “Permitted Liens”):

 

(a) pledges
or deposits, in a total amount that shall not exceed One Hundred Thousand ($100,000) Dollars without Bank’s prior written consent,
under workmen’s compensation, unemployment insurance and social security laws or to secure statutory obligations or surety or
appeal bonds or to secure indemnity, performance or other similar bonds in the ordinary course of business;

 

(b) Liens
for taxes, assessments, fees or other governmental charges or the claims of material men, mechanics, carriers, warehousemen, landlords
and other similar persons, the payment of which is not overdue or is being contested in good faith by appropriate proceedings
(which may include good faith negotiations) (provided that the Borrowers have set aside on their books adequate reserves with
respect thereto in accordance with GAAP (if any are so required), consistently applied, or for which the failure to make payment
could not reasonably be expected to result in a Material Adverse Effect;

 

(c) Liens
granted to the Bank and any of its Affiliates, including renewals and extensions thereof;

 

(d) Liens
for property or equipment that is leased or financed by the Borrower Group (i.e., purchase money indebtedness);

 

(e) judgment
liens in respect of judgments that do not constitute an Event of Default under Section 8.1(h);

 

(f) easements,
zoning restrictions, rights of way and similar encumbrances on real property imposed by law or arising in the ordinary course
of business that do not secure any monetary obligations and do not materially detract from the value of the affected property
or interfere with the ordinary conduct of business of the Borrower Group;

 

(g) unperfected
Liens relating to trade payables for amounts which are not past due, attaching only to inventory purchased and which are granted
to account creditors from whom the Borrower Group has purchased inventory in the ordinary course of business;

 

(h) Liens
in favor of customs and revenue authorities arising as a matter of law to secure payment of customs, duties and taxes in the ordinary
course of business;

 

(i) Liens
on insurance policies and the proceeds thereof securing the financing of the premiums; and

 

(j) Liens
incidental to the conduct of the Borrower Group’s business or the ownership of its property and assets which were not
incurred in connection with the borrowing of money or the obtaining of advances or credit, and which do not in the aggregate
materially detract from or impair the Bank’s rights in and to the Collateral (as defined in the Security Agreements) or the
value of the Borrower Group’s property or assets or which do not materially impair the use thereof in the operation of the
Borrower Group’s business.

  

    	 	27	 

     

    

 

Section
7.2. Indebtedness. Incur, create, assume or suffer to exist or otherwise become liable with respect to any
Indebtedness, other than: (a) Indebtedness to the Bank and any of its Affiliates, including renewals and extensions thereof,
(b) Subordinated Debt including renewals and extensions thereof, (c) indebtedness with respect to Capital Leases, (d)
Indebtedness incurred as a result of Borrowers entering into non-speculative Hedge Agreements or any similar transactions
used to hedge or mitigate risk, (e) unsecured Indebtedness consisting of obligations owed to trade creditors arising in the
ordinary course of business and other obligations to employees, obligations to providers of utility services and obligations
for taxes and similar types of Indebtedness evidencing obligations related to the day-to-day operation of the Borrower Group,
(f) purchase money Indebtedness, and (g) Indebtedness between either Borrower and any Guarantor.

 

Section
7.3. Guaranties. Guarantee, endorse, become surety for, or otherwise in any way become or be responsible for
the Indebtedness or obligations of any Person (other than Indebtedness permitted under Section 7.2), whether by agreement to
maintain working capital or equity capital or otherwise maintain the net worth or solvency of any Person or by agreement to
purchase the Indebtedness of any other Person, or agreement for the furnishing of funds, directly or indirectly, through the
purchase of goods, supplies or services for the purpose of discharging the Indebtedness of any other Person or otherwise, or
enter into or be a party to any contract for the purchase of merchandise, materials, supplies or other property if such
contract provides that payment for such merchandise, materials, supplies or other property shall be made regardless of
whether delivery of such merchandise, supplies or other property is ever made or tendered.

 

Section
7.4. Sale of Assets. Sell, assign, lease, transfer or otherwise dispose of any of its now owned or hereafter
acquired properties and assets, whether or not pursuant to an order of a federal agency or commission, except for (a) the
sale of inventory disposed of in the ordinary course of business, (b) the sale or other disposition of properties or assets
no longer used or useful in the conduct of its businesses, (c) sales, transfers and dispositions to Affiliates not prohibited
hereunder, (d) sales, transfers, discounts and dispositions permitted by Section 7.5, and (e) dispositions resulting from any
casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of,
any property or asset of the Borrower Group thereof.

 

Section
7.5. Sales of Notes. Sell, transfer, discount or otherwise dispose of notes, accounts receivable or other obligations
owing to the Borrower Group, with or without recourse, except for collection in the ordinary course of business, without the prior
written consent of Bank.

 

Section
7.6. Nature of Business. Change or alter the nature of its business, in any material respect, from the nature
of the business engaged in by it on the date hereof and businesses reasonably related thereto.

 

Section
7.7. Federal Reserve Regulations. Permit any Loan or the proceeds of any Loan to be used for any purpose which
violates or is inconsistent with the provisions of Regulations T, U or X of the Board of Governors of the Federal Reserve
System.

 

Section
7.8. Accounting Policies and Procedures; Tax Status. (a) Permit any change in the accounting policies and procedures
of the Borrower Group, including a change in fiscal year, without the prior written consent of the Bank; provided, however, that
any policy or procedure required to be changed by the FASB (or other board or committee of the FASB in order to comply with GAAP)
may be so changed without the consent of the Bank, or (b) permit any change or take any action to change its tax status under
the Code of the Borrower Group.

  

    	 	28	 

     

    

 

Section
7.9. Limitations on Fundamental Changes. Merge or consolidate with, or sell, assign, lease or otherwise dispose
of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now or
hereafter acquired) to any Person, or, liquidate, wind up or dissolve or suffer any liquidation or dissolution, or suffer to
exist a Change of Control.

 

Section
7.10. Minimum Fixed Charge Coverage Ratio. Permit Borrower Group’s Fixed Charge Coverage Ratio to be less than 1.25,
as tested on March 31”, June 30th, September 30th, and December 31” of each year during the Commitment
Period. Testing will be performed using Borrower Group’s financial statements for the trailing four (4) quarter period ending
on the testing day.

 

Section
7.11. Transactions with Affiliates. Other than as otherwise set forth herein, enter into any transaction, including,
without limitation, the purchase, sale, or exchange of property or the rendering of any service, with any Affiliate, except in
the ordinary course of business and upon fair and reasonable terms no less favorable to the Borrower Group than it would obtain
in a comparable arms-length transaction with a Person not an Affiliate. For purposes of this Section 7.11, “Affiliate”
does not include Niche Fishing Charters LLC, a Florida limited liability company.

 

Section
7.12. Anti-Terrorism Laws. (a) Conduct any business or engage in any transaction or dealing with any Blocked Person,
including making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person, (b) deal
in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to the Executive
Order; or (c) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding,
or attempts to violate, any of the prohibitions set forth in the Executive Order, the USA Patriot Act or any other Anti-Terrorism
Law. The Borrowers shall deliver to the Bank any certification or other evidence requested from time to time by the Bank in its
sole discretion, confirming the Borrower Group’s compliance with this Section 7.12.

 

Section
7.13. Compliance with Pension and Benefit Plans. Establish any new Canadian Pension Plan which is a defined benefit
plan or which contains a defined benefit component. Borrower Group shall not permit pension or other employee benefit plan obligation
and liabilities to remain unfunded other than in accordance with applicable law. Borrower Group shall not voluntarily terminate
any Canadian Pension Plan which is a defined benefit plan or which contains a defined benefit component.

 

ARTICLE
VIII

EVENTS
OF DEFAULT

 

Section
8.1. Events of Default. In the case of the happening of any of the following events (each an “Event of Default”):

 

(a) failure
by the Borrowers to pay the principal of or any interest on any Loan or any fees or other amounts payable under this Agreement
or any other Loan Document;

 

(b) default
shall be made in the due observance or performance any covenant, condition or agreement of the Borrowers to be performed pursuant
to this Agreement or of the Borrowers or their Affiliates to be performed pursuant to any other Loan Document;

 

    	 	29	 

     

    

 

(c) any
representation or warranty made or deemed made in this Agreement or any other Loan Document shall prove to be false or misleading
in any material respect when made or given or when deemed made or given;

 

(d) any
written report, certificate, financial statement or other instrument furnished in connection with this Agreement or any other
Loan Document or the borrowings hereunder, shall prove to be false or misleading in any material respect when made or given or
when deemed made or given;

 

(e) default
in the performance or compliance in respect of any agreement or condition relating to any Indebtedness of the Borrower Group (other
than the Indebtedness created under this Agreement), individually or in the aggregate, with a then-outstanding principal balance
of One Hundred Thousand ($100,000) Dollars, if the effect of such default is to accelerate the maturity of such Indebtedness or
to permit the holder or obligee thereof (or a trustee on behalf of such holder or obligee) to cause such Indebtedness to become
due prior to the stated maturity thereof;

 

(f) any
member of Borrower Group shall (i) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the
United States Code or any other federal or state bankruptcy, insolvency or similar law, (ii) consent to the institution of, or
fail to controvert in a timely and appropriate manner, any such proceeding or the filing of any such petition, (iii) apply for
or consent to the employment of a receiver, trustee, custodian, or similar official for any member of Borrower Group or for a
substantial part of its property; (iv) file an answer admitting the material allegations of a petition filed against it in such
proceeding, (v) make a general assignment for the benefit of creditors, (vi) take corporate action for the purpose of effecting
any of the foregoing, (vii) become unable or admit in writing its inability or fail generally to pay its debts as they become
due or (viii) take corporate action for the purpose of effecting any of the foregoing;

 

(g) an
involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking
(i) relief in respect of any member of the Borrower Group or of a substantial part of its property under Title 11 of the United
States Code or any other federal or state bankruptcy insolvency or similar law, (ii) the appointment of a receiver, trustee, custodian,
or similar official for any member of the Borrower Group or for a substantial part of its property, or (iii) the winding-up or
liquidation of any member of the Borrower Group and such proceeding or petition shall continue undismissed for ninety (90) days
or an order or decree approving or ordering any of the foregoing shall continue unstayed and in effect for ninety (90) days;

 

(h) One
or more orders, judgments or decrees for the payment of money not covered by insurance shall be rendered against a member of Borrower
Group and the same shall not have been paid in accordance with such judgment, order or decree, which by itself or together with
all other such judgments is in excess of One Hundred Thousand ($100,000) Dollars, and either (i) an enforcement proceeding shall
have been commenced by any creditor upon such judgment, order or decree, or (ii) there shall have been a period of forty-five
(45) consecutive days during which a stay of enforcement of such judgment, order or decree, by reason of pending appeal or otherwise,
was not in effect;

 

(i) any
Plan shall fail to maintain the minimum funding standard required for any Plan year or part thereof or a waiver of such
standard or extension of any amortization period is sought or granted under Section 412 of the Code, any Plan is the subject
of termination proceedings under ERISA, any Plan shall have an Unfunded Current Liability, a Reportable Event shall have
occurred with respect to a Plan or the Borrower Group or any ERISA Affiliate shall have incurred a liability in excess of
Five Hundred Thousand ($500,000) Dollars to or on account of a Plan under Section 515, 4062, 4063, 4063, 4201 or 4204 of
ERISA, and there shall result from any such event or events the imposition of a lien upon the assets of the Borrower Group,
the granting of a security interest, or a liability to the PBGC or a Plan or a trustee appointed under ERISA or a penalty
under Section 4971 of the Code;

 

 

    	 	30	 

     

    

 

(j) any
Loan Document or any material provision thereof shall for any reason cease to be in full force and effect in accordance with its
terms or a member of the Borrower Group shall so assert in writing;

 

(k) any
of the Liens purported to be granted pursuant to any Security Document shall cease for any reason to be legal, valid and enforceable
liens on the collateral purported to be covered thereby or shall cease to have the priority purported to be created thereby, unless
such Lien has been released by the Bank in accordance with the terms and conditions hereof or as a result of the failure of the
Bank to file UCC continuation statements after notice from the Borrowers to file same;

 

(l) any
Guaranty shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity
or unenforceability of a Guaranty, or any Guarantor shall fail to comply with any of the terms or provisions of the Guaranty
to which it is a party;

 

then,
at any time thereafter during the continuance of any such event, the Bank may, in its sole discretion, without notice to the Borrowers,
take any or all of the following actions, at the same or different times, (x) (a) terminate the Commitment and the Loans and (b)
declare (i) the Notes, both as to principal and interest, and (ii) all other Obligations, to be forthwith due and payable without
presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein
or in the Notes to the contrary notwithstanding and (y) exercise any or all of the rights and remedies afforded to the Bank by
the Uniform Commercial Code, the Personal Property Security Act or otherwise possessed by the Bank; provided, however,
that if an event specified in Section 8.1(f) or (g) shall have occurred, the Commitments and the Loans shall automatically terminate
and interest, principal and amounts referred to in the preceding clauses (i) and (ii) shall be immediately due and payable without
presentment, demand, protest, or other notice of any kind, all of which are expressly waived, anything contained herein or in
the Notes to the contrary notwithstanding.

 

ARTICLE
IX

MISCELLANEOUS

 

Section
9.1. Notices. Any notice or other communication shall be in writing and shall be conclusively deemed to have been received
by a party hereto and to be effective on the day on which it was delivered to such party at the address set forth below, or, if
sent by email, when actually received, or, if sent by registered or certified mail, on the third Business Day after the day on
which it was mailed in the United States, addressed to such party at the address set forth below:

 

(a) if
to the Bank, at:

 

Fifth
Third Bank

2333
Ponce de Leon Blvd, Suite 303

Coral
Gables, FL 33134

Attention:
Vivian Alvarez Premock, Senior Vice President

Email:
Vivian.Premock@53.com 

 

With
copies to: 

 

Dickinson
Wright PLLC

350
East Las Olas Boulevard, Ste. 1750

Fort
Lauderdale, FL 33301

Attention:
Clint J. Gage, Esq.

Email:
cgage@dickinsonwright.com

  

    	 	31	 

     

    

 

(b) if
to the Borrower, at:

 

Jacoby
& Co. Inc.

6501
Park of Commerce Blvd., Suite 200

Boca
Raton, FL 33487

Attention:
Aaron LoCascio, Chief Executive Officer

Email:
Aaron@gnln.com

 

With
copies to:

 

Pryor
Cashman LLP

7
Times Square

New
York, NY 10036

Attention:
Jeffrey C. Johnson, Esq.

Email:
jjohnson@pryorcashman.com

 

as
to each such party at such other address as such party shall have designated to the other in a written notice complying as to
delivery with the provisions of this Section 9.1.

 

Section
9.2. Effectiveness; Survival of Agreement. This Agreement shall become effective on the date on which all
parties hereto shall have signed a counterpart copy hereof and shall have delivered the same to the Bank. All covenants,
agreements, representations and warranties made herein and in the other Loan Documents and in the certificates delivered
pursuant hereto or thereto shall survive the making by the Bank of the Loans herein contemplated and the execution and
delivery to the Bank of the Note evidencing the Loans and shall continue in full force and effect so long as any Note is
unpaid. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the
successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrowers which are
contained in this Agreement shall bind and inure to the benefit of the respective successors and assigns of the Bank. The
Borrowers may not assign or transfer any of their interest under this Agreement, the Notes, or any other Loan Document
without the prior written consent of the Bank. The obligations of the Borrowers pursuant to Section 9.3 and Section 9.10
shall survive termination of this Agreement and payment of the Obligations.

 

Section
9.3. Expenses of the Bank. Each Borrower agrees (a) to indemnify, defend and hold harmless the Bank and its officers,
directors, employees, agents, advisors and affiliates (each, an “indemnified person”) from and against any
and all losses, claims, damages, liabilities or judgments to which any such indemnified person may be subject and arising out
of or in connection with the Loan Documents, the financings contemplated hereby, the use of any proceeds of such financings or
any related transaction or any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not
any of such indemnified persons is a party thereto, and to reimburse each of such indemnified persons upon notice and demand for
any reasonable, out-of-pocket and documented expenses, including such expenses constituting legal fees, actually incurred in connection
with the investigation or defending any of the foregoing; provided that the foregoing indemnity will not, as to any indemnified
person, apply to losses, claims, damages, liabilities, judgments or related expenses to the extent arising from the breach of
contract, willful misconduct or gross negligence of such indemnified person; and (b) to reimburse the Bank from time to time,
upon notice and demand, all reasonable, out-of-pocket and documented expenses (including, but not limited to, such expenses of
its due diligence investigation, appraisal fees, environmental assessment fees and title insurance fees, along with disbursements
and reasonable fees of counsel) actually incurred in connection with the financings contemplated under this Agreement (except
where the Bank has specifically agreed herein to incur non-reimbursable expenses), the preparation, execution and delivery of
this Agreement and the other Loan Documents, any amendments and waivers hereof or thereof, the security arrangements contemplated
thereby and the enforcement thereof.

  

    	 	32	 

     

    

 

Section
9.4. No Waiver of Rights by the Bank. Neither any failure nor any delay on the part of the Bank in exercising any
right, power or privilege hereunder or under the Notes or any other Loan Document shall operate as a waiver thereof, nor shall
a single or partial exercise thereof preclude any other or further exercise of any other right, power or privilege.

 

Section
9.5. Submission to Jurisdiction; Jury Waiver. EACH BORROWER HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF ANY STATE
OR FEDERAL COURT IN THE STATE OF FLORIDA, COUNTY OF MIAMI-DADE, IN ANY ACTION, SUIT OR PROCEEDING BROUGHT AGAINST IT AND RELATED
TO OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY,
AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH BORROWER HEREBY WAIVES AND AGREES NOT TO ASSERT BY WAY OF MOTION, AS A DEFENSE
OR OTHERWISE, IN ANY SUCH SUIT, ACTION OR PROCEEDING ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF SUCH COURTS,
THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM, THAT THE VENUE OF THE SUIT, ACTION OR PROCEEDING IS IMPROPER,
OR THAT THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR ANY OTHER DOCUMENT OR INSTRUMENT REFERRED TO HEREIN OR THEREIN WHERE THE
SUBJECT MATTER THEREOF MAY NOT BE LITIGATED IN OR BY SUCH COURTS. EACH BORROWER AGREES THAT SERVICE OF PROCESS MAY BE MADE UPON
IT BY CERTIFIED OR REGISTERED MAIL TO THE ADDRESS FOR NOTICES SET FORTH IN THIS AGREEMENT OR ANY METHOD AUTHORIZED BY THE LAWS
OF FLORIDA. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, THE NOTES OR ANY OTHER LOAN
DOCUMENT.

 

Section
9.6. Extension of Maturity. Except as otherwise expressly provided herein, whenever a payment to be made
hereunder shall fall due and payable on any day other than a Business Day, such payment may be made on the next succeeding
Business Day, and such extension of time shall be included in computing interest.

 

Section
9.7. Modification of Agreement. No modification or amendment or waiver of any provision of this Agreement, the
Notes, or any other Loan Document shall in any event be effective unless the same shall be in writing and signed by the Bank
and the Borrowers, and no waiver of any provision of this Agreement, the Notes, or any other Loan Document, nor consent to
any departure by the Borrowers therefrom, shall in any event be effective unless the same shall be in writing and signed by
the Bank, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which
given. No notice to or demand on the Borrowers in any case shall entitle the Borrowers to any other or further notice or
demand in the same, similar or other circumstance unless required by the terms of this Agreement.

 

Section
9.8. Severability. In case any one or more of the provisions contained in this Agreement, the Notes, or in any
other Loan Document should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of
the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby.

  

    	 	33	 

     

    

 

Section
9.9. Sale of Participations; Assignments. The Bank reserves the right to sell participations in the Loans to
such banks, lending institutions or other parties as it may choose with notice to the Borrowers. The Bank reserves the right
to sell and assign its rights, duties or obligations with respect to the Loans to such banks, lending institutions or other
parties as it may choose but only with the prior written consent of the Borrowers not to be unreasonably withheld or delayed
(provided that no such consent of the Borrowers shall be required if an Event of Default shall have occurred and be
continuing). The Bank may furnish any information concerning the Borrowers in its possession from time to time to any
assignee or participant (or proposed assignee or participant), provided that the Bank shall notify any such assignee or
participant (or proposed assignee or participant) in connection with any contemplated participation in, or assignment of, the
Loans, that such information is confidential and shall obtain an agreement from such transferee or participant requiring that
such transferee or participant treat such information as confidential and use commercially reasonable efforts to maintain the
confidentiality of same.

 

Section
9.10. Reinstatement; Certain Payments. If claim is ever made upon the Bank for repayment or recovery of any amount
or amounts received by the Bank in payment or on account of any of the Obligations under this Agreement, the Bank shall give prompt
notice of such claim to the Borrowers, and if the Bank repays all or part of said amount by reason of (a) any judgment, decree
or order of any court or administrative body having jurisdiction over the Bank or any of its property, or (b) any settlement or
compromise of any such claim effected by the Bank with any such claimant, then and in such event the Borrowers agree that any
such judgment, decree, order, settlement or compromise shall be binding upon such Borrowers notwithstanding the cancellation of
the Notes or other instrument(s) evidencing the Obligations under this Agreement or the termination of this Agreement, and the
Borrowers shall be and remain liable to the Bank hereunder for the amount so repaid or recovered to the same extent as if such
amount had never originally been received by the Bank.

 

Section
9.11. Right of Setoff. If an Event of Default shall have occurred and be continuing, the Bank and each other Affiliate
of the Bank are each hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and
apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness
at any time owing by the Bank to or for the credit or the account of the Borrowers against any and all the Obligations. The rights
of the Bank under this Section 9.11 are in addition to other rights and remedies (including, without limitation, other rights
of setoff) which the Bank may have.

 

Section
9.12. Confidentiality. The Bank agrees to take normal and reasonable precautions to maintain the confidentiality
of any non-public information relating to the Borrowers or their business, other than any such information that is available
to the Bank on a non-confidential basis prior to disclosure by the Borrowers, except that such information may be disclosed
(a) to any Affiliate, director, officer, employee, agent, advisor, legal counsel, consultants or other representatives of the
Bank, on a confidential basis with, in each case, a need to know such information in connection with the transactions
contemplated by this Agreement, (b) to the extent required by applicable laws or regulations or by any subpoena or similar
legal process, (c) to the extent requested by any regulatory agency or authority purporting to have jurisdiction over it
(including any self-regulatory authority such as the National Association of Insurance Commissioners), (d) to the extent that
such information becomes publicly available other than as a result of a breach of this Section, or which becomes available to
the Bank or any Affiliate, director, officer, employee, agent, advisor, legal counsel, consultants or other representatives
of the Bank on a non-confidential basis from a source other than the Borrowers or any Affiliate thereof, (e) in connection
with the exercise of any remedy hereunder or under any other Loan Documents or any suit, action or proceeding relating to
this Agreement or any other Loan Documents or the enforcement of rights hereunder or thereunder, (f) subject to execution by
such Person of an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or
participant in, or any prospective assignee of or participant in, any of its rights or obligations under this Agreement, or
(ii) any actual or prospective party to any swap or derivative or other transaction under which payments are to be made by
reference to the Borrowers and their obligations, this Agreement or payments hereunder, or (g) with the prior written consent
of the Borrowers.

  

    	 	34	 

     

    

 

Section
9.13. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall constitute an original,
but all of which, taken together, shall constitute one and the same instrument. Delivery of an executed counterpart to this Agreement
by facsimile transmission or by electronic mail shall be as effective as delivery of a manually executed counterpart hereof.

 

Section
9.14. Headings. Section headings used herein are for convenience of reference only and are not to affect the construction
of or be taken into consideration in interpreting this Agreement.

 

Section
9.15. Construction. This Agreement is the result of negotiations between, and has been reviewed by, the Borrowers and
the Bank and their respective counsel. Accordingly, this Agreement shall be deemed to be the product of each party hereto, and
no ambiguity shall be construed in favor of or against either the Borrowers or the Bank.

 

Section
9.16. USA PATRIOT Act; Anti-Money Laundering Legislation. Each Borrower acknowledges that, pursuant to the Anti-Terrorism
Laws, and other applicable anti-money laundering, anti-terrorist financing, government sanction and “know your client”
laws, whether within the United States, Canada or elsewhere (collectively, including any guidelines or orders thereunder, “AML
Legislation”), the Bank may be required to obtain, verify and record information regarding Borrowers, their respective
directors, authorized signing officers, direct or indirect shareholders or other Persons in control of Borrowers, and the transactions
contemplated hereby. Borrowers shall promptly provide all such information, including supporting documentation and other evidence,
as may be reasonably requested by the Bank, or any prospective assign or participant of the Bank, in order to comply with any
applicable AML Legislation, whether now or hereafter in existence.

 

Section
9.17. Judgment Currency. If for the purpose of obtaining a judgment in any court it is necessary to convert any amount
owing or payable to Bank under this Agreement or any Loan Document from the currency in which it is due (the “Agreed
Currency”) into a particular currency (the “Judgment Currency”), the rate of exchange applied in
that conversion shall be that at which Bank, in accordance with its normal procedures, could purchase the Agreed Currency with
the Judgment Currency at or about noon on the Business Day immediately preceding the date on which judgment is given. The obligation
of the Borrowers in respect of any amount owing or payable under this Agreement to Bank in the Agreed Currency shall, notwithstanding
any judgment and payment in the Judgment Currency, be satisfied only to the extent that the Bank, in accordance with its normal
procedures, could purchase the Agreed Currency with the amount of the Judgment Currency so paid at or about noon on the next Business
Day following that payment; and if the amount of the Agreed Currency which the Bank could so purchase is less than the amount
originally due in the Agreed Currency the Borrowers shall, as a separate obligation and notwithstanding the judgment or payment,
indemnify Bank against any loss.

 

Section
9.18. Choice of Law. This Agreement shall be construed in accordance with and governed by the laws of the State of
Florida without giving effect to principles of conflict or choice of laws.

 

[SIGNATURES
ON FOLLOWING PAGES]

  

    	 	35	 

     

    

 

IN
WITNESS WHEREOF, the Borrowers and the Bank have caused this Agreement to be duly executed by their duly authorized officers,
as of the day and year first above written.

  

	 	FIFTH THIRD BANK
	 	 
	 	By:	/s/ Vivian Alvarez Premock
	 	Name: 	 Vivian Alvarez Premock
	 	Title:	 Senior Vice President
	 	 
	 	GREENLANE HOLDINGS, LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	1095 BROKEN SOUND PKWY, LLC
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	36	 

     

    

 

IN
WITNESS WHEREOF, the Borrowers and the Bank have caused this Agreement to be duly executed by their duly authorized officers,
as of the day and year first above written.

  

	 	FIFTH THIRD BANK
	 	 
	 	By:	
	 	Name: 	 Vivian Alvarez Premock
	 	Title:	 Senior Vice President
	 	 
	 	GREENLANE HOLDINGS, LLC
	 	 
	 	By:	/s/ Aaron Locascio
	 	Name:	Aaron Locascio
	 	Title:	CO-PRESIDENT
	 	 
	 	1095 BROKEN SOUND PKWY, LLC
	 	 
	 	By:	/s/ Aaron Locascio
	 	Name:	Aaron Locascio
	 	Title:	CO-PRESIDENT

  

    	 	37	 

     

    

 

EXHIBIT
A

 

NOTICE
OF REVOLVING CREDIT LOAN BORROWING

 

[Date]

 

Fifth
Third Bank

2333
Ponce de Leon Blvd., Suite 303

Coral
Gables, FL 33134

Attention:
Vivian Alvarez Premock, South Florida Middle Market — Team Lead

 

		Re:	GREENLANE
HOLDINGS, LLC

 

Gentlemen:

 

Pursuant
to the Credit Agreement dated as of October 1, 2018 (as the same may have been and may hereafter be amended, modified or supplemented
the “Credit Agreement”) by and between the undersigned RLOC Borrower, 1095 Broken Sound Pkwy LLC, and the Bank,
the RLOC Borrower hereby gives the Bank notice that RLOC Borrower requests a Revolving Credit Loan as follows:

 

1.
The requested Borrowing Date is _____________________

 

2.
The amount of the requested borrowing is $_____________________, which shall be deposited into the Operating Account
(as designated by RLOC Borrower from time to time)
on______________ (date).

 

The
RLOC Borrower hereby certifies that (i) the representations and warranties contained in the Credit Agreement and the other Loan
Documents are true, correct and complete in all material respects on and as of the date hereof to the same extent as though made
on and as of the date hereof, except for such representations and warranties that are made as of a specific date; (ii) no Default
or Event of Default has occurred and is continuing under the Credit Agreement or will result after giving effect to the Loan requested
hereunder; and (iii) the amount of the proposed borrowing hereunder will not cause the aggregate outstanding principal amount
of Revolving Credit Loans (after giving effect to the proposed borrowing requested hereunder) to exceed the lesser of the Commitment
or the Borrowing Base set forth in the last Borrowing Base Certificate delivered to the Bank.

 

Capitalized
terms used herein but not defined shall have the respective meanings given to them in the Credit Agreement.

 

IN
WITNESS WHEREOF, RLOC Borrower has caused this document to be executed and delivered by its Executive Officer as of the date
written above.

 

	 	GREENLANE HOLDINGS, LLC
	 	 
	 	By:	                
	 	Name: 	 
	 	Title:	 

 

    	 	38Exhibit 10.10

 

Execution
Version

 

 

 

 

 

 

 

 

CONTRIBUTION AGREEMENT

 

DATED AS OF FEBRUARY 20, 2018

 

BY AND AMONG

 

JACOBY HOLDINGS LLC,

 

THE SELLERS NAMED HEREIN,

 

AND

 

BETTER LIFE PRODUCTS, INC., AS SELLER
REPRESENTATIVE

 

 

 

 

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	ARTICLE I CONTRIBUTION OF THE EQUITY INTERESTS	1
	 	 	 
	Section 1.01.	Contribution of the Contributed Interests	1
	Section 1.02.	Contribution Consideration	1
	Section 1.03.	Withholding	2
	Section 1.04.	Tax Treatment	2
	 	 	 
	ARTICLE II CLOSING	2
	 	 	 
	Section 2.01.	Closing Date	2
	Section 2.02.	Deliveries by the Seller Representative	2
	Section 2.03.	Deliveries by the Purchaser	4
	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE SELLERS	4
	 	 	 
	Section 3.01.	Organization; Power; Capacity	4
	Section 3.02.	Authorization and Validity of Agreement	4
	Section 3.03.	Title to the Contributed Interests	5
	Section 3.04.	No Conflict; Required Filings and Consents	5
	Section 3.05.	Litigation	5
	Section 3.06.	Acquisition for Own Account	5
	Section 3.07.	Seller Diligence	6
	Section 3.08.	Accredited Investor	6
	Section 3.09.	No Bad Actor Disqualification	6
	Section 3.10.	Limited Liquidity; Economic Risk	6
	Section 3.11.	Anti-Terrorism and Money Laundering Activities	6
	Section 3.12.	Broker’s and Finder’s Fees	7
	Section 3.13.	Independent Investigation	7
	Section 3.14.	No Reliance on IPO	7
	 	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY	7
	 	 	 
	Section 4.01.	Organization; Power	7
	Section 4.02.	Capitalization	7
	Section 4.03.	No Conflict or Violation	8
	Section 4.04.	Consents and Approvals	8
	Section 4.05.	Financial Statements; No Undisclosed Liabilities	8
	Section 4.06.	Tax Matters	9
	Section 4.07.	Absence of Certain Changes	10
	Section 4.08.	Owned Real Property	11
	Section 4.09.	Leased Real Property	12
	Section 4.10.	Accounts Receivable	12
	Section 4.11.	Intellectual Property	13

 

    	i

     

    

 

	Section 4.12.	Employee Benefit Plans	15
	Section 4.13.	Personnel; Labor Relations	18
	Section 4.14.	Environmental Compliance	19
	Section 4.15.	Licenses and Permits	19
	Section 4.16.	Insurance	20
	Section 4.17.	Payment Card Standards	20
	Section 4.18.	Contracts and Commitments	21
	Section 4.19.	Customers and Suppliers	22
	Section 4.20.	Compliance with Law	22
	Section 4.21.	Litigation	23
	Section 4.22.	Title to and Sufficiency of Assets and Related Matters	23
	Section 4.23.	Broker’s and Finder’s Fees	23
	Section 4.24.	Affiliate Transactions	23
	Section 4.25.	Inventory	23
	Section 4.26.	Product Matters	24
	Section 4.27.	Bank Accounts	24
	Section 4.28.	Plans and Designs	24
	Section 4.29.	Privacy	24
	Section 4.30.	Full Disclosure	24
	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE PURCHASER	25
	 	 	 
	Section 5.01.	Organization; Power	25
	Section 5.02.	Title to the Jacoby Interests	25
	Section 5.03.	Authorization and Validity of Agreement	25
	Section 5.04.	No Conflict or Violation	25
	Section 5.05.	Consents and Approvals	26
	Section 5.06.	Broker’s and Finder’s Fees	26
	Section 5.07.	Independent Investigation	26
	 	 	 
	ARTICLE VI INDEMNIFICATION; SURVIVAL	26
	 	 	 
	Section 6.01.	Indemnification By the Sellers	26
	Section 6.02.	Indemnification by the Purchaser	27
	Section 6.03.	Indemnification Notice; Litigation Notice	27
	Section 6.04.	Defense of Third Party Claims	28
	Section 6.05.	Survival	29
	Section 6.06.	Additional Indemnification Provisions	29
	Section 6.07.	Special Rule for Fraud	30
	Section 6.08.	Sole Remedy	30
	Section 6.09.	Determination of Loss Amount	30
	Section 6.10.	Mitigation	30
	Section 6.11.	Adjustments to Contribution Consideration	31

 

    	ii

     

    

 

	ARTICLE VII OTHER AGREEMENTS	31
	 	 	 
	Section 7.01.	Confidential Information	31
	Section 7.02.	Transfer Taxes	32
	Section 7.03.	Preparation of Tax Returns; Payment of Taxes	32
	Section 7.04.	Cooperation on Tax Matters	33
	Section 7.05.	Tax Contests	34
	Section 7.06.	Release	34
	Section 7.07.	Non-Competition; Non-Solicitation	34
	Section 7.08.	Remedies	36
	Section 7.09.	Seller Representative	36
	 	 	 
	ARTICLE VIII MISCELLANEOUS	37
	 	 	 
	Section 8.01.	Public Announcements	37
	Section 8.02.	Costs and Expenses	37
	Section 8.03.	Further Assurances	37
	Section 8.04.	Addresses for Notices, Etc.	38
	Section 8.05.	Headings	39
	Section 8.06.	Construction	39
	Section 8.07.	Severability	40
	Section 8.08.	Entire Agreement and Amendment	40
	Section 8.09.	No Waiver; Cumulative Remedies	40
	Section 8.10.	Parties in Interest	40
	Section 8.11.	Successors and Assigns; Assignment	41
	Section 8.12.	Governing Law; Jurisdiction and Venue	41
	Section 8.13.	Waiver of Jury Trial	41
	Section 8.14.	Counterparts	41

 

    	iii

     

    

 

EXHIBITS

 

	Exhibit A	Definitions
	Exhibit B	Sellers
	Exhibit C-1	Better Life Products, Inc. Consulting Agreement
	Exhibit C-2	Fleissig Consulting Agreement

 

    	iv

     

    

 

CONTRIBUTION AGREEMENT

 

THIS CONTRIBUTION
AGREEMENT (this “Agreement), dated as of the 20th day of February, 2018, is made and entered
into by and among Jacoby Holdings LLC, a Delaware limited liability company (the “Purchaser”), the persons
listed as Sellers on the signature page hereof (each a “Seller” and collectively the “Sellers”),
and Better Life Products, Inc., a California corporation (“BLP”), as Seller Representative. Capitalized
terms used, but not defined herein shall have the meanings ascribed to them in Exhibit A attached hereto.

 

WITNESSETH:

 

WHEREAS, the
Sellers, collectively, are the owners of all of the issued and outstanding limited liability company membership interests (the
“Contributed Interests”) of Better Life Holdings, LLC, a Delaware limited liability company (the “Company”),
in the amounts and Percentage Interests set forth on Exhibit B, attached hereto; and

 

WHEREAS, the
Purchaser desires to receive from each Seller, and each Seller desires to contribute to the Purchaser, the Contributed Interests
upon the terms and subject to the conditions set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the foregoing and the mutual covenants and promises contained in this Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows:

 

AGREEMENT

 

ARTICLE
I

CONTRIBUTION OF THE EQUITY INTERESTS

 

Section
1.01. Contribution of the Contributed Interests. On the terms and subject to the conditions set forth
in this Agreement and on the basis of the representations, warranties, covenants and agreements herein contained, the Purchaser
hereby receives, acquires and accepts from each Seller, and each Seller hereby contributes, transfers, assigns, conveys and delivers
to the Purchaser, all of such Seller’s right, title and interest in and to the Contributed Interests to be contributed by
such Seller pursuant to this Agreement, in accordance with the terms of the Governing Documents of the Company, free and clear
of all Encumbrances (other than any restrictions under the Securities Act or applicable state securities Laws).

 

Section
1.02. Contribution Consideration. As consideration for the contribution and transfer of the Contributed
Interests, the Purchaser shall issue to each of the Sellers (the “Contribution Consideration”), pro rata
based on each such Seller’s Percentage Interest, membership interests representing in the aggregate ten percent (10.0%) of
the issued and outstanding membership interests of the Purchaser (the “Jacoby Interests”), in accordance
with the terms of the Governing Documents of the Purchaser and free and clear of all Encumbrances (other than any restrictions
under the Securities Act or applicable state securities Laws or as set forth in the Purchaser’s Governing Documents).

 

     

     

    

 

Section
1.03. Withholding. Notwithstanding any provision contained herein to the contrary, Purchaser shall
be entitled to deduct and withhold from any consideration payable to any Seller pursuant to this Agreement to the extent required
under any provision of Tax Law. If the Purchaser so deducts or withholds amounts and timely pays them to the appropriate Governmental
Entity, such amounts shall be treated for all purposes of this Agreement as having been paid to such Seller in respect of which
such deduction, withholding and payment was made.

 

Section
1.04. Tax Treatment. It is the intent of the Purchaser and the Sellers that, for U.S. federal income
tax purposes, the contribution by the Sellers of the Contributed Interests in exchange for the Jacoby Interests be governed by
Section 721 of the Code. The parties shall not take any action or position inconsistent with this Section 1.04, except
as otherwise required by Law.

 

ARTICLE
II

CLOSING

 

Section
2.01. Closing Date. The closing of the transactions contemplated by this Agreement (the “Closing”)
shall take place concurrently with the execution of this Agreement (the “Closing Date”), effective as
of 11:59 p.m. on the Closing Date, provided that the Parties have received, or waived the receipt of, the deliverables set forth
in Sections 2.02 and 2.03. In lieu of an in-person Closing, the Closing may instead be accomplished by electronic transmission
to the respective offices of legal counsel for the parties of the requisite documents, duly executed where required, delivered
upon actual confirmed receipt. The parties hereto acknowledge and agree that all proceedings to be taken and all documents to be
executed and delivered by all parties at the Closing shall be deemed to have been taken and executed simultaneously on the Closing
Date, and no proceedings shall be deemed taken nor any documents executed or delivered until all have been taken, executed and
delivered.

 

Section
2.02. Deliveries by the Seller Representative. At the Closing, the Seller Representative shall deliver
(or cause to be delivered) to the Purchaser originals or copies, if specified, of the following:

 

(a) assignments
or other instruments of transfer with respect to all of the Contributed Interests as requested by the Purchaser, duly endorsed
in blank, and, to the extent the Contributed Interests are certificated, certificates representing all of the Contributed Interests;

 

(b) a
signature page to the amended and restated operating agreement of the Purchaser dated as of the date hereof (the “Jacoby
Operating Agreement”), in form and substance satisfactory to the Purchaser, in its reasonable discretion, duly executed
by each of the Sellers;

 

(c) a
personal guarantee of the payment obligations of each of the Sellers under this Agreement, in form and substance satisfactory to
the Purchaser, in its reasonable discretion, duly executed by the beneficial owner of BLP;

 

(d) a
pledge agreement, in form and substance satisfactory to the Purchaser, in its reasonable discretion, duly executed by each Seller,
pledging the Jacoby Interests as collateral security for each such Seller’s payment obligations arising under this Agreement;

 

    	 	2	 

     

    

 

(e) resignations
of those officers, directors and managers of the Company identified in writing by the Purchaser at least one (1) day prior to the
Closing, effective as of the Closing Date;

 

(f) counterparts
of all other agreements, documents and instruments required to be delivered by the Seller Representative and/or the Sellers pursuant
to this Agreement or any of the Related Agreements, duly executed by such Seller Representative and/or Seller(s);

 

(g) copies
of each consent, waiver, authorization and approval required in connection with the consummation of the transactions contemplated
hereby, including those contemplated pursuant to ‎Section 4.04 of this Agreement, in each case, in form and substance
satisfactory to the Purchaser;

 

(h) a
Certificate of Good Standing of the Company issued by the Secretary of State of the State of Delaware and of each other state or
jurisdiction in which the Company is qualified to do business, dated within five (5) Business Days of the Closing Date;

 

(i) a
copy of all Governing Documents of the Company, including: (i) the Certificate of Formation or similar document of the Company,
together with all amendments thereto, certified as true, complete and correct by the Secretary of State of the State of Delaware;
and (ii) the Amended and Restated Operating Agreement of the Company, together with all amendments thereto and/or restatements
thereof (the “Operating Agreement”) certified as true, complete and correct and in full force and effect
by the Manager of the Company;

 

(j) a
certificate from the corporate secretary (or similar officer or beneficial owner) of each Seller that is a non-individual Person
dated as of the Closing Date and certifying (i) that correct and complete copies of the Governing Documents of such Seller are
attached thereto and (ii) that correct and complete copies of the resolutions of the Persons governing such Seller approving this
Agreement, the Related Agreements, and the transactions contemplated hereby and thereby are attached thereto;

 

(k) affidavits
dated as of the Closing Date in form and substance reasonably satisfactory to the Purchaser, sworn under penalty of perjury and
in form and substance required under Section 1446(f) of the Code and the Treasury Regulations issued pursuant to Section 1445
of the Code stating that each Seller is not a “foreign person” as defined in Section 1445 of the Code;

 

(l) evidence
in form and substance reasonably satisfactory to the Purchaser of the termination of any related party agreements to be identified
by the Purchaser;

 

(m) evidence
of revised bank access documentation providing Aaron LoCascio and Adam Schoenfeld with access and control upon Closing over the
accounts referenced in Schedule ‎4.27 from and after Closing;

 

(n) consulting
agreements duly executed by each of BLP and Clive Fleissig, in substantially the form attached hereto as Exhibit C-1 and
C-2, respectively (collectively, the “Consulting Agreements”); and

 

(o) all
other documentation reasonably requested by the Purchaser.

 

    	 	3	 

     

    

 

Section
2.03. Deliveries by the Purchaser. At the Closing, the Purchaser shall deliver (or cause to be delivered)
originals or copies, if specified, of the following agreements, documents and other items:

 

(a) the
Consulting Agreements duly executed by the Purchaser;

 

(b) counterparts
of all agreements, documents and instruments required to be delivered by the Purchaser pursuant to this Agreement or any of the
Related Agreements, duly executed by the Purchaser;

 

(c) certificates
to each Seller representing the Jacoby Interests, to the extent certificated, pro rata based on each Seller’s Percentage
Interest in the aggregate of ten percent (10.0%);

 

(d) copies
of each consent, waiver, authorization and approval required in connection with the consummation of the transactions contemplated
hereby, including those contemplated pursuant to Section 5.03 of this Agreement, in each case, in form and substance satisfactory
to the Seller Representative;

 

(e) a
certificate from the corporate secretary (or similar officer or beneficial owner) of Purchaser dated as of the Closing Date and
certifying that correct and complete copies of the Governing Documents of Purchaser are attached thereto; and

 

(f) all
other documentation reasonably requested by the Seller Representative.

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES OF THE SELLERS

 

Each of the Sellers,
severally and not jointly (and solely with respect to himself), hereby represents and warrants to the Purchaser that, solely with
respect to such Seller, the statements contained in this ‎Article III are true, correct and complete as of the date
hereof.

 

Section
3.01. Organization; Power; Capacity. Such Seller has all requisite power and authority, and legal capacity,
to: (a) execute and deliver this Agreement and the Related Agreements to which such Seller is a party; (b) to carry out such Seller’s
obligations hereunder and thereunder; (c) to comply with and fulfill the terms and conditions of this Agreement and the Related
Agreements to which such Seller is a party; and (d) to consummate the transactions contemplated hereby and thereby.

 

Section
3.02. Authorization and Validity of Agreement. The execution, delivery and performance of this Agreement
and the other Related Agreements to which such Seller is a party have been duly authorized by such Seller. This Agreement has been,
and each other Related Agreement to which such Seller is a party have been, duly executed and delivered by such Seller and constitutes
such Seller’s valid and binding obligation enforceable against such Seller in accordance with its terms and conditions, except
as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting the
enforcement of creditor’s rights generally or by general principles of equity (whether applied in a proceeding at law or
equity).

 

    	 	4	 

     

    

 

Section
3.03. Title to the Contributed Interests. Such Seller has good and marketable title to, and is the
sole record and beneficial owner of, all of the Contributed Interests to be contributed by such Seller pursuant to this Agreement,
free and clear of all Encumbrances or any restrictions on transfer (other than any restrictions under the Securities Act or applicable
state securities Laws). Such Seller has complete and unrestricted power and the unqualified right to contribute, convey, assign,
transfer and deliver such Seller’s respective portion of the Contributed Interests, and the instruments of assignment and
transfer to be executed and delivered by such Seller to the Purchaser at the Closing shall be valid and binding obligations of
such Seller. At the Closing, such Seller shall transfer to the Purchaser good and marketable title to the Contributed Interests
to be sold by such Seller pursuant to this Agreement, free and clear of all Encumbrances or any restrictions on transfer, other
than any restrictions under the Securities Act or applicable state securities Laws.

 

Section
3.04. No Conflict; Required Filings and Consents. The execution, delivery and consummation of this
Agreement by such Seller does not, and the execution, delivery and consummation of the Related Agreements to which such Seller
is a party and the performance of this Agreement and such Related Agreements will not: (a) violate in any material respect any
Law applicable to such Seller or which affects the Contributed Interests to be sold by such Seller; (b)(i) require any consent
or approval other than as set forth in this Agreement or (ii) violate or result in any breach of or constitute (with or without
due notice or the passage of time or both) a default under any judicial consent, order, decree or any Contract to which such Seller
is a party or to which the Contributed Interests to be sold by such Seller are subject; or (c) result in the imposition of any
Encumbrance or restriction on such Seller’s Contributed Interests (with or without due notice or the passage of time or both).

 

Section
3.05. Litigation. To such Seller’s Knowledge, there are no Proceedings pending or threatened
against or affecting such Seller, which would affect the ability of such Seller to consummate the transactions contemplated by
this Agreement or any Related Agreement to which such Seller is a party. To such Seller’s Knowledge, there are no currently
existing events, facts or circumstances which could reasonably be expected to form the basis for any Proceeding or order, or decree
of any court or Governmental Entity which would affect the ability of such Seller to consummate the transactions contemplated by
this Agreement or any Related Agreement to which such Seller is a party.

 

Section
3.06. Acquisition for Own Account. Each Seller is acquiring the Jacoby Interests for Seller’s
own account, or the account of another Seller or Person identified to the Purchaser in writing, as principal, not as a nominee
or agent, for investment purposes only, and not with a view to, or for, resale, distribution or fractionalization thereof in whole
or in part and no other Person has a direct or indirect beneficial interest in such Jacoby Interests. Further, such Seller does
not have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such
person or to any third person, with respect to any of the Jacoby Interests other than as may be set forth in the Jacoby Operating
Agreement.

 

    	 	5	 

     

    

 

Section
3.07. Seller Diligence. Each Seller has been given the opportunity for a reasonable time prior to the
date hereof to ask questions of, and receive answers from, the Purchaser or its representatives concerning the terms and conditions
of this Agreement, and other matters pertaining to its receipt of the Jacoby Interests, and has been given the opportunity for
a reasonable time prior to the date hereof to obtain such additional information in connection with the Purchaser in order for
such Seller to evaluate the merits and risks of its acquisition of Jacoby Interests, to the extent the Purchaser possesses such
information or can acquire it without unreasonable effort or expense Each Seller has such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of holding the Jacoby Interests.

 

Section
3.08. Accredited Investor. Each Seller is an “accredited investor” within the meaning of
Rule 501 of Regulation D promulgated under the Securities Act. Such Seller agrees to furnish any additional information requested
by the Purchaser or any of its Affiliates to assure compliance with applicable U.S. federal and state securities Laws in connection
with the acquisition and transfer of the Jacoby Interests.

 

Section
3.09. No Bad Actor Disqualification. Each Seller and its Rule 506(d) Related Parties (defined below)
are not subject to any “Bad Actor” disqualifying events described in Rule 506(d)(1)(i) to (viii) under the Securities
Act (a “Disqualification Event”), except, if applicable, for a Disqualification Event as to which Rule
506(d)(2)(ii) or (iii) or (d)(3) is applicable. Such Seller hereby agrees that it shall notify the Purchaser promptly in writing
in the event a Disqualification Event becomes applicable to such Seller or any of its Rule 506(d) Related Parties, except, if applicable,
for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. For purposes of this Section 3.08,
“Rule 506(d) Related Party” shall mean a Person that is a beneficial owner of such Seller’s securities
for purposes of Rule 506(d) of the Securities Act.

 

Section
3.10. Limited Liquidity; Economic Risk. Each Seller understands that (i) it may not be able to readily
resell any of the Jacoby Interests acquired by such Seller pursuant to this Agreement because (a) there may only be a limited market,
if any exists, for any of the Jacoby Interests and (b) none of the Jacoby Interests have been registered under the Securities Act
or any applicable state “blue sky” laws; and (ii) the Purchaser has the absolute right to refuse to consent to the
transfer or assignment of the Jacoby Interests if such transfer or assignment does not comply with applicable Laws, including the
Securities Act and any applicable state “blue sky” laws, or the Governing Documents of the Purchaser. Each Seller has
the financial ability to bear the economic risk of a total diminution in value of the Jacoby Interests, has adequate means for
providing for such Seller’s current needs and personal contingencies and has no need for liquidity with respect to such Seller’s
acquisition of Jacoby Interests.

 

Section
3.11. Anti-Terrorism and Money Laundering Activities. Each Seller acknowledges that the Purchaser is
required by United States Federal Law to obtain, verify and record information that identifies each Person who makes contributions
to the Purchaser in consideration for the Jacoby Interests. Such Seller acknowledges and agrees that it will furnish to the Purchaser
upon request a copy of such Seller’s identifying documents that will assist the Purchaser to properly identify the such Seller
as required by Federal Law. Such documents may include, without limitation, in the case of an individual, such Seller’s driver’s
license, passport or other appropriate identifying documents or, in the case of a corporation, partnership or other entity, a copy
of such entity’s organizational documents and evidence of the authority of the person executing this Agreement on behalf
of such entity that such person has full authority to execute and deliver this Agreement on behalf of such entity and otherwise
to act on behalf of such entity in connection with such entity’s receipt of Jacoby Interests.

 

    	 	6	 

     

    

 

Section
3.12. Broker’s and Finder’s Fees. No broker, finder or other Person is entitled to any
commission or finder’s fee in connection with this Agreement or with the transactions contemplated hereby as a result of
any actions or commitments of such Seller.

 

Section
3.13. Independent Investigation. Each Seller acknowledges and agrees that: (a) in making its decision
to enter into this Agreement and to consummate the transactions contemplated hereby, such Seller has relied solely upon its own
investigation and the express representations and warranties the Purchaser set forth in Article V of this Agreement and
(b) neither the Purchaser nor any other Person has made any representation or warranty as to the Purchaser or this Agreement, except
as expressly set forth in in Article V of this Agreement.

 

Section
3.14. No Reliance on IPO. The Purchaser has not made any express or implied representation that the
Purchaser or any of its Affiliates will consummate or otherwise participate in an IPO, and each of the Sellers acknowledge and
agree that in entering into this Agreement, it is not relying on any express or implied representation or other statement of the
Purchaser regarding the Purchaser consummating or otherwise participating in an IPO.

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY

 

The Company hereby
represent and warrant to the Purchaser, subject to such exceptions as are specifically disclosed in the Disclosure Schedules delivered
by the Sellers concurrently with the execution of this Agreement (the “Disclosure Schedules”); provided,
however, that disclosure in one such section or subsection of the Disclosure Schedules may be deemed to qualify another
section or subsection if it is reasonably clear, upon a reading of such disclosure without any independent knowledge on the part
of the reader regarding the matter disclosed and without the need for reference to any other document, that the disclosure would
be expected to apply to such other Section or subsection), that the statements contained in this ‎Article IV are
true, correct and complete as of the date hereof.

 

Section
4.01. Organization; Power. The Company is a limited liability company duly organized and validly existing
under the Laws of the State of Delaware. The Company is qualified as a foreign entity to transact business in, and is validly existing
under the Laws of, the states listed on Schedule ‎4.01, and is not required to be qualified as a foreign entity in any
other states or jurisdictions, except where such non-qualification would not reasonably be expected to have a Material Adverse
Effect. The Company has all requisite power and authority to own, operate, lease and encumber its properties and carry on its business
as now conducted and currently proposed to be conducted.

 

Section
4.02. Capitalization.

 

(a) The
Contributed Interests constitute all of the authorized limited liability company membership interests of the Company, as set forth
on Schedule ‎4.02(a). All of the Contributed Interests are held of record and beneficially owned by the Sellers
and are owned in the respective amounts and percentages set forth on Exhibit B. The Contributed Interests constitute all
of the issued and outstanding limited liability company interests, Equity Securities, or similar interests of the Company and are
duly authorized and were validly issued in compliance with the Company’s Governing Documents and all applicable securities
Laws.

 

    	 	7	 

     

    

 

(b) Except
as set forth on Schedule ‎4.02(b), there are no contracts, options, warrants, call rights, puts, convertible
securities, exchangeable securities, understandings or other rights, arrangements or understandings of any kind to issue, repurchase,
redeem, sell, deliver or otherwise acquire or cause to be issued, repurchased, redeemed, sold, delivered or acquired, any limited
liability company interests, Equity Securities, Debt or similar interests in the Company.

 

(c) The
Company has no Subsidiaries, nor does the Company directly or indirectly own any Equity Securities, Debt or similar interest in,
or any interest convertible into or exchangeable for, at any time, any equity or similar interest in any other Person.

 

Section
4.03. No Conflict or Violation. Except as set forth on Schedule ‎4.03, the execution, delivery,
consummation and performance of this Agreement and each of the Related Agreements does not and shall not: (a) violate or conflict
with any provision of the Governing Documents of the Company, (b) violate in any material respect any provision of Law applicable
to the Company, (c) violate or result in a breach of or constitute (with or without due notice or the passage of time, or both)
a default under any judicial consent, order, decree or material Contract to which the Company is a party, or by which the Company’s
material assets or properties may be bound, or (d) result in the imposition of any Encumbrance or restriction on the Business (with
or without due notice or the passage of time, or both).

 

Section
4.04. Consents and Approvals. Except as set forth on Schedule ‎4.04, to the Knowledge of
the Company, no consent, waiver, authorization or approval of any Governmental Entity, or of any other Person, or declaration or
notice to or filing or registration with any Governmental Entity or other Person, is required in connection with the consummation
of the transactions contemplated hereby.

 

Section
4.05. Financial Statements; No Undisclosed Liabilities.

 

(a) Attached
hereto as Schedule ‎4.05(a) are copies of the internal unaudited financial statements of the Company as of and
for the year ended December 31, 2017 and audited financial statements for the Company as and for the years ended December 31, 2016
and December 31, 2015, which are comprised of the balance sheets as of December 31, 2017, December 31, 2016, and December 31, 2015,
respectively, and the related statements of comprehensive income and owners’ equity for the years then ended and, for the
years ended December 31, 2016 and December 31, 2015, cash flows (collectively, the “Financial Statements”).

 

(b) There
are no material Liabilities, exceeding, in the aggregate, $100,000, against, relating to or affecting the Company or the Business
except for (i) Liabilities fully disclosed in the Financial Statements, (ii) Liabilities accruing after December 31, 2017 in the
Ordinary Course of Business, (iii) Liabilities incurred as a result of the transactions contemplated by this Agreement, and (iv)
as set forth on Schedule 4.05(b).

 

    	 	8	 

     

    

 

Section
4.06. Tax Matters.

 

(a) The
Company has timely filed or caused to be timely filed all Tax Returns that are or were required to be filed by the Company pursuant
to applicable Law. All Tax Returns filed by the Company are true, correct and complete in all material respects and were prepared
in compliance with all applicable Laws. The Company has paid all Taxes owed by the Company (whether or not shown on any Tax Returns),
except such Taxes, if any, which are not yet delinquent. The Company is not currently the beneficiary of any extension of time
within which to file any income Tax Return. The Company has received no written claim made by any Governmental Entity in a jurisdiction
where the Company does not file Tax Returns asserting that the Company is or may be subject to taxation by that jurisdiction. There
are no Encumbrances for Taxes (other than for Taxes not yet due and payable) upon any of the assets of the Company.

 

(b) The
Company has delivered or made available to the Purchaser copies of all Tax Returns filed by the Company and any audit materials,
examination reports and statements of deficiencies with respect to Taxes of the Company, in each case, received by the Company
or any Seller from a Governmental Entity, with respect to all tax years of the Company from inception. None of the Sellers, nor
the Company has received written notice from a Governmental Entity indicating that such Governmental Entity intends to assess any
additional Taxes against the Company for any period for which Tax Returns have been filed. To the Knowledge of the Company, there
are no pending audits, assessments, disputes or claims concerning any Taxes of the Company. The Company has not waived any statute
of limitations in respect of Taxes or agreed to any extension of time with respect to a Tax assessment or deficiency, in each case,
that are either in force or outstanding. Schedule 4.06(b) sets forth all of the jurisdictions where the Company files Tax
Returns.

 

(c) There
is no Tax sharing agreement, Tax allocation agreement, Tax indemnity obligation or similar Contract with respect to Taxes (including
any advance pricing agreement, closing agreement or other arrangement relating to Taxes) that shall require any payment by the
Company after the Closing Date (other than customary commercial agreements the primary subject of which is not Taxes).

 

(d) The
Company has never been a member of an affiliated group filing a consolidated federal income Tax Return or any similar group for
federal, state, local or foreign Tax purposes. The Company has no Liability for Taxes of any other Person under Treasury Regulations
Section 1.1502-6 (or any similar provision of state, local or foreign Law), as a transferee or successor, by Contract or otherwise
(other than customary commercial agreements the primary subject of which is not Taxes).

 

(e) The
Company will not be required to include any item of income in, or exclude any item of deduction from, taxable income for any taxable
period (or portion thereof) ending after the Closing Date as a result of any (i) change in method of accounting for a taxable period
ending on or prior to the Closing Date, (ii) “closing agreement” as described in Section 7121 of the Code (or
any similar provision of state, local or foreign Law) executed on or prior to the Closing Date, (iii) installment sale or open
transaction disposition made on or prior to the Closing Date, (iv) prepaid income received on or prior to the Closing Date, (v)
method of accounting that defers recognition of income to any period ending after the Closing Date, or (vi) election under Section 108(i)
of the Code.

 

    	 	9	 

     

    

 

(f) The
Company has timely withheld and paid all amounts of Taxes required by Law to have been withheld and paid by it (i) in connection
with any amounts paid as compensation by the Company to its employees and independent contractors (including distributors) and
(ii) to its members, creditors, holders of securities or other third parties. The Company has complied with all information reporting
and backup withholding requirements of Law in all material respects.

 

(g) The
Company is not the subject of any private ruling from a taxing authority or Contract with a taxing authority.

 

(h) The
Company has not: (i) taken a reporting position on a Tax Return that, if not sustained, would give rise to a penalty for substantial
understatement of federal income Tax under Section 6662 of the Code (or any similar provision of state, local or foreign law);
or (ii) entered into any transaction identified as a (x) “listed transaction,” within the meaning of Treasury Regulations
Section 1.6011-4(b)(2), (y) a “transaction of interest,” within the meaning of Treasury Regulations Section 1.6011-4(b)(6),
or (z) any transaction that is “substantially similar” (within the meaning of Treasury Regulations Section 1.6011-4(c)(4))
to a “listed transaction” or “transaction of interest.”

 

Section
4.07. Absence of Certain Changes. Since November 30, 2017 there has not occurred any event, change
or circumstance that, individually or in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect.
Except as set forth on Schedule ‎4.07, since November 30, 2017 there has not been any:

 

(a) damage
or destruction affecting any portion of the material assets or properties of the Company;

 

(b) change
in the Company’s accounting policies, procedures or methodologies;

 

(c) sale
or transfer of any tangible or intangible asset of the Company, except in the Ordinary Course of Business;

 

(d) mortgage,
pledge or imposition of any Encumbrances (except for Permitted Encumbrances) on any asset of the Company;

 

(e) declaration
or payment of any distribution in respect of any Equity Securities of the Company or, directly or indirectly, any purchase, redemption,
issuance, or other acquisition or disposition by the Company of any of their respective Equity Securities;

 

(f) increase
in the salary, benefits or other compensation payable to any of the employees or consultants or officers or directors of the Company,
or commitment to pay any bonus or other additional salary, benefits or compensation to any of the employees or consultants or officers
or directors of the Company, or any entry into, grant, adoption, amendment or termination of any Employee Plan in any manner, except
as otherwise required by Law;

 

    	 	10	 

     

    

 

(g) incurrence
of any capital expenditure, obligation or other liability in connection therewith by the Company other than in the Ordinary Course
of Business not in excess of $25,000;

 

(h) acquisition
by the Company of a Person (including by merger, consolidation or stock purchase), or any acquisition of a substantial portion
of the assets of any business of any other person;

 

(i) discharge
or satisfaction by the Company of any material Encumbrance or material liability, other than Liabilities discharged or satisfied
in the Ordinary Course of Business;

 

(j) amendment
to the Governing Documents of the Company;

 

(k) incurrence,
assumption or prepayment of any Debt by the Company, including long term debt or the issuance of any debt securities;

 

(l) assumption,
guarantee, endorsement or otherwise becoming liable or responsible, whether directly, contingently or otherwise, by the Company
for the Debt of any other Person;

 

(m) making
of any loans, advances or capital contributions to or investments in any other Person by the Company;

 

(n) entry
into, amendment or termination of, or waiver of any rights under, any Material Contract;

 

(o) initiation,
settlement or compromise by or against the Company of any pending or threatened Proceeding;

 

(p) making,
changing or rescinding by the Company of any election relating to Taxes, settlement or compromise by the Company of any claim,
action, suit, litigation, proceeding, arbitration, investigation, or audit controversy relating to Taxes, consent by the Company
to any extension or waiver of the limitation period applicable to any claim or assessment in respect of Taxes, filing by the Company
of any Tax Return, amendment of any Tax Return by the Company or making by the Company of any change to any of its respective methods
of accounting in respect of Taxes;

 

(q) excess
sales of inventory or return privileges granted to any customer of the Company with respect thereto (whether explicitly or through
favorable concessions granted to the customer); or

 

(r) agreement
or commitment entered into by the Company to do any act described in clauses (a) through (q) above.

 

Section
4.08. Owned Real Property. The Company does not own, nor has ever owned, any real property or any interest
therein.

 

    	 	11	 

     

    

 

Section
4.09. Leased Real Property. 

 

(a) Schedule
‎4.09(a) identifies all real property leased or subleased or used by the Company as of the date hereof, including
the landlord’s name (the “Leased Real Property”). All Leased Real Property is leased to the Company,
pursuant to written leases, true, correct and complete copies of which have been previously delivered to the Purchaser (collectively
the “Real Property Leases”). The Company has a valid leasehold interest in the Leased Real Property,
free and clear of all Encumbrances. Other than as set forth in Schedule 4.09(a), the Company has not subleased any Leased
Real Property and the Leased Real Property is not otherwise subject to any third-party licenses, concessions, leases or tenancies
of any kind. The Real Property Leases are in full force and effect and there are no other amendments, agreements or understandings
relating to the Real Property Leases. All rent, additional rent and other charges due under the Real Property Leases were paid
in full through the end of the month applicable to the Closing Date (i.e., if the Closing Date is March 1, 2018 then through March
31, 2018). There are no material defaults on the part of the Company or the landlord under the Real Property Leases. The Company
has performed all of its obligations to be performed under the Real Property Leases. There are no claims by any landlord against
the Company under the Real Property Leases. There are no rent concessions, abatements, or contributions owed to the Company under
any Real Property Leases.

 

(b) Except
as set forth on Schedule 4.09(b), the Company has not received written notice that the use or occupancy of the Leased Real
Property violates in any material respect any covenants, conditions or restrictions that encumber such property, or that any such
property is subject to any restriction for which any material permits necessary to the current use thereof have not been obtained.

 

(c) There
are no pending or, to the Knowledge of the Company, threatened condemnation proceedings with respect to any portion of the Leased
Real Property. There are no actual or, to the Knowledge of the Company, threatened or imminent changes in the present zoning of
any Leased Real Property or any part thereof or any restrictions, limitations or regulations issued, or proposed or under consideration
by any Governmental Entity having or asserting jurisdiction over the Leased Real Property.

 

Section
4.10. Accounts Receivable. Except as set forth on Schedule 4.10, the accounts receivable reflected
on the Financial Statements and the accounts receivable arising after November 30, 2017: (a) arose from bona fide sales transactions
in the Ordinary Course of Business and are payable in the Ordinary Course of Business on terms consistent with the Company’s
past practices; (b) are legal, valid and binding obligations of the respective debtors enforceable in accordance with their terms;
(c) are not subject to any valid set-off or counterclaim by the debtor; (d) do not represent obligations for goods sold on consignment,
on approval or on a sale-or-return basis or subject to any other repurchase or return arrangement; (e) to the Knowledge of the
Company, are collectible in full, but in no event later than ninety (90) days of the applicable invoice date thereof, in the Ordinary
Course of Business in the aggregate recorded amounts thereof; (f) are not owed by any Affiliate of the Company; and (g) are not
the subject of any Proceeding. Except as set forth on Schedule 4.10, the Company has not received any notice from any account
debtor regarding any dispute over any of the accounts receivable. None of the accounts receivable constitutes duplicate billings
of other accounts receivable. There are no security arrangements or collateral securing the repayment or other satisfaction of
the accounts receivable.

 

    	 	12	 

     

    

 

Section
4.11. Intellectual Property.

 

(a) Schedule
‎4.11(a) sets forth a list of all patents and patent applications; registered and trademarks, service marks, trade
names; domain names; registered copyrights; software (other than commercial-off-the-shelf software licensed on a “click-through”
or similar basis for the internal use of the Company); and technology and processes owned by or licensed to the Company pursuant
to any Contract and used by the Company in the operation of the Business as presently conducted. The Company owns, free and clear
of Encumbrances, or has the right to use pursuant to valid and effective Contracts, all such intellectual property, and all software
licenses, trade secrets, technical knowledge, know-how and other confidential proprietary information used to conduct the Business
(collectively referred to as “Intellectual Property”). None of the Intellectual Property is owned by
or licensed to the Company by any of the Sellers or any other Affiliate, officer, director, contractor, or employee of the Company.
The Intellectual Property constitutes all intellectual property rights necessary for the continued conduct of the Business of the
Company in substantially the same manner as conducted before the date of this Agreement. For each item of Intellectual Property
licensed from third parties, Schedule ‎4.11(a) lists the Contract under which the Company has acquired rights
in such Intellectual Property (each, an “Intellectual Property License”), including the date, title and
parties for each such Intellectual Property License. Each Intellectual Property License is valid and binding on the Company and
the applicable licensor in accordance with its terms and is in full force and effect. Neither the Company nor, to the Knowledge
of the Company, any other party thereto is in breach of or default under, or has provided or received any notice of breach or default
of or any intention to terminate, any Intellectual Property License. No claims are pending or, to the Knowledge of the Company,
threatened, and the Company has received no communication alleging that the Company violated any rights relating to Intellectual
Property of any third party. To the Knowledge of the Company, no third party is misappropriating, infringing, diluting, or violating
any Company rights in Intellectual Property.

 

(b) Except
as set forth on Schedule 4.11(b), neither the Company, nor any Company Product, manufactured by Company, nor the marketing,
distribution, sale or use of any Company Product, manufactured by Company, for its intended purpose infringes, violates, dilutes
or misappropriates any intellectual property rights of another Person.

 

(c) The
Company has not made any claim of a violation, infringement, misuse or misappropriation by any Person (including any employee,
former employee or independent contractor of the Company or any of its Subsidiaries) of its rights to, or in connection with, any
Company Intellectual Property, and to the Knowledge of the Company, no basis for such a claim exists. Except as set forth in Schedule
4.11(c), neither the Company nor any of its Subsidiaries has entered into any agreement to indemnify any other Person against
any charge of infringement of any Intellectual Property, other than indemnification provisions contained in agreements entered
into in the Ordinary Course of Business.

 

(d) The
Company has taken all commercially reasonable measures to maintain and protect the proprietary nature of the Company Intellectual
Property, including the signing by all Persons hired by the Company and all of its Subsidiaries of nondisclosure agreements, and
the signing of valid and binding non-disclosure agreement by all Third Parties with responsibility for the conception, reduction
to practice, authoring or other creation or development of, or having access to, or to whom a disclosure has been made of, know-how
or trade secret information or other Company Intellectual Property. Except as set forth in Schedule 4.11(d), the Company
has secured valid and binding written assignments from all consultants, contractors and employees and all other Persons who contributed
to the conception, reduction to practice, authorship, creation or development of any Intellectual Property by or on behalf of the
Company or any of its Subsidiaries of all rights to such contributions that the Company or its Subsidiary, as applicable, does
not already own by operation of law.

 

    	 	13	 

     

    

 

(e) Except
as set forth on Schedule ‎4.11(d), no Person (other than the Company) has contributed to or participated in the
conception and development of Intellectual Property that is necessary to or used by the Company in the operation of the Business.

 

(f) Neither
the Company nor any of its Subsidiaries has granted to any Person an exclusive license or equivalent right with respect to any
Company Intellectual Property, or assigned or conveyed to any Person any ownership interest (including joint ownership rights)
therein, and no third party owns or holds any such right, license or interest.

 

(g) Other
than as listed on Schedule 4.11(g), neither it nor any of its Subsidiaries has included any “open source” code
(as defined by the Open Source Initiative) or “Free” code (as defined by the Free Software Foundation) (collectively,
“Open Source Code”) in, or linked to, any Product constituting or incorporating any software that the
Company or any of its Subsidiaries licenses, distributes or makes available to a third party (collectively, “Company
Software Products”). The Company further represents and warrants that neither the Company nor any of its Subsidiaries
has included Open Source Code in, or linked Open Source Code to, any Company Software Products, in any manner: (a) that would impose
any requirements on how any Company Software Products, other than the licensed-in Open Source Code itself, must be used, licensed
or disclosed to third parties, or (b) that would have the effect of requiring that any portion of the Company Software Product,
other than the licensed-in Open Source Code itself: (i) be disclosed or distributed, proactively or at the request of a third party,
in source code form, (ii) be licensed for the purpose of making derivative works, (iii) be redistributable at no charge, or (iv)
be licensed under any open source or free software license or licensing scheme of the Free Software Foundation, Open Source Initiative
or any similar program.

 

(h) Except
as set forth on Schedule 4.11(h), neither the Company nor any of its Subsidiaries has disclosed or delivered to any escrow
agent or any other Person any of the source code relating to any Company Intellectual Property, and no other Person has the right,
contingent or otherwise, to obtain access to or use any such source code. No event has occurred, and no circumstance or condition
exists, that (with or without notice or lapse of time or both) will, or could reasonably be expected to, result in the delivery,
license, or disclosure of any source code to any Person who is not, as of the date of this Agreement, a current employee.

 

(i) The
execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not (i)
materially alter or impair any rights of the Company in any Intellectual Property used in the Business or owned by the Company,
or (ii) result in the Company being obligated to license any Intellectual Property used in the Business or owned by the Company
to any other Person, or to pay any royalties or other material amounts, to accelerate the payment of any royalties or any other
material amounts, or to offer any discounts to any third party in excess of those payable by, or required to be offered by, the
Company in the absence of this Agreement.

 

    	 	14	 

     

    

 

(j) The
information technology systems owned, leased or licensed by the Company, including the software, firmware, hardware (whether general
or special purpose), networks and interfaces (collectively, the “Company Systems”) are sufficient for
the current needs of the Company for its operation of the Business, including as to peak volume capacity and processing ability.
In the twelve month period prior to the date of this Agreement, there have been no material failures, breakdowns, or continued
substandard performance of any Company Systems which have caused the substantial disruption or interruption in the use of the Company
Systems or the operation of the Business of the Company.

 

(k) With
respect to sensitive personally identifiable information, the Company has taken all commercially reasonable steps (including implementing
and monitoring compliance with adequate measures with respect to technical and physical security) to ensure that the information
is protected against loss and against unauthorized access, use, modification, disclosure or other misuse. To the Knowledge of the
Company, there has been no unauthorized access to or other misuse of such information.

 

Section
4.12. Employee Benefit Plans

 

(a) Schedule
‎4.12 contains a list of all Employee Plans. Each Employee Plan is being administered in accordance with its terms
and with all applicable Laws, and contributions required to be made under the terms of any of the Employee Plans, if any, as of
the date of this Agreement have been timely made. With respect to each Employee Plan, the Company has remained in material compliance
with all tax, annual reporting and other governmental filing requirements under applicable Law, and such taxes, reports and other
filings have, in all material respects, been timely filed with the appropriate Governmental Entity and all notices and disclosures
have been timely provided to participants. Each Employee Plan which is intended to qualify under Section 401(a) of the Code
has received a favorable determination letter from the IRS as to its qualified status or may rely upon a prototype opinion letter,
and that the trust established in connection with such Employee Plan which is intended to be exempt from federal income taxation
under Section 501(a) of the Code is so exempt, and no fact or event has occurred that could reasonably be expected to adversely
affect the qualified status of any such Employee Plan or the exempt status of any such trust. Neither the Company nor any Subsidiary
has any express or implied commitment, whether legally enforceable or not, to (i) create, incur liability with respect to, or cause
to exist any Employee Plan (or any plan, program or arrangement which would be a Employee Plan if in effect on the date hereof),
(ii) to enter into any contract or agreement to provide compensation or benefits to any individual, or (iii) to modify, change
or terminate any Employee Plan, other than with respect to a modification, change or termination required by ERISA or by the Code.

 

(b) With
respect to each Employee Plan, the Company has furnished to the Purchaser, as applicable: (i) a true and complete copy of each
Employee Plan and underlying trust (or, in the case of an unwritten arrangement, a written description of its terms and conditions);
(ii) copies of the most recent summary plan description and all summaries of material modifications; (iii) copies of the three
(3) most recently filed Form 5500 annual reports and accompanying schedules, if any; (iv) a copy of the most recently received
IRS determination letter or opinion letter; (v) copies of the non-discrimination testing results, audited financial statements,
actuarial reports, and attorney’s responses to an auditor’s request for information, if any, for the three (3) most
recent plan years; (vi) all material correspondence to or from any governmental entity in the past three (3) years relating to
any Employee Plan; (vii) all material communications relating to any established or proposed Employee Plan that relates to any
material amendments, terminations, increases or decreases in benefits, acceleration of payments or vesting schedules or other events
which would result in any liability to the Company or its Subsidiaries; and (viii) all prospectuses prepared in connection with
each Employee Plan. The Company has not made any material express or implied proposal, assurance or commitment, to establish, modify,
change or terminate any Employee Plan (other than with respect to a modification, change or termination required by ERISA or the
Code), or to any employee or other service provider of the Company regarding any improvement to terms of employment or regarding
the increase or improvement in the rate or quantum of remuneration, benefits or other compensation.

 

    	 	15	 

     

    

 

(c) 
(i) No event has occurred and no condition exists that would subject the Company or any ERISA Affiliate, to any tax, fine, lien,
penalty or other liability imposed by ERISA, the Code or other applicable Laws, rules and regulations; (ii) for each Employee Plan
with respect to which a Form 5500 has been filed, no material change has occurred with respect to the matters covered by the most
recent Form since the date thereof; (iii) no “reportable event” (as such term is defined in ERISA Section 4043),
“prohibited transaction” (as such term is defined in ERISA Section 406 and Code Section 4975) or “accumulated
funding deficiency” (as such term is defined in ERISA Section 302 and Code Section 412 (whether or not waived))
has occurred with respect to any Employee Plan; (iv) all awards, grants or bonuses made pursuant to any Employee Plan have been,
or will be, fully deductible to the Company or its Subsidiaries notwithstanding the provisions of Section 162(m) of the Internal
Revenue Code and the regulations promulgated thereunder; and (v) except to the extent limited by applicable Law, each Employee
Plan may be amended, terminated or otherwise discontinued after the Closing Date in accordance with its terms without liability
to the Company or any Subsidiary (other than ordinary administration expenses).

 

(d) Full
payment has been made of all amounts (other than current outstanding routine claims for benefits) that the Company and any Subsidiary
is required to contribute or pay under the terms of any Employee Plan, if any, and all contributions to any Employee Plan that
are required or recommended with respect to any period of time prior to the Closing have been made or such amounts have been accrued
in accordance with GAAP. There are no funded benefit obligations for which contributions have not been made or properly accrued
and there are no unfunded benefit obligations that have not been accounted for by reserves, or otherwise properly footnoted in
accordance with GAAP on the financial statements of the Company.

 

(e) No
Employee Plan is a Multiemployer plan or a pension plan within the meaning of Section 3(2) of ERISA that is subject to Title
IV of ERISA or similar minimum funding requirements under applicable foreign Law (each such arrangement being a “Pension
Plan”), and neither the Company nor any ERISA Affiliate has ever sponsored or contributed to or been required to
contribute to a Multiemployer Plan or Pension Plan. No material liability under Title IV of ERISA or similar applicable foreign
Law has been incurred by the Company or any ERISA Affiliate that has not been satisfied in full, and no condition exists that presents
a risk to the Company or any ERISA Affiliate of incurring or being subject (whether primarily, jointly or secondarily) to a liability
thereunder or to any lien arising under ERISA.

 

    	 	16	 

     

    

 

(f) With
respect to any Employee Plan, (i) no actions, suits or claims (other than routine claims for benefits in the ordinary course) are
pending or threatened and (ii) to the Knowledge of the Company, no facts or circumstances exist that could give rise to any such
actions, suits or claims. There are no audits, inquiries or proceedings pending or to the knowledge of the Company or any member
of the Company’s Controlled Group, threatened by the Internal Revenue Service, the Department of Labor, or any similar governmental
entity with respect to any Employee Plan.

 

(g) The
Company has not granted any loans or advances in excess of $1,000, or provided any guarantees or financial assistance in excess
of $1,000, to any of its officers or directors (past or present), which are currently outstanding. For the avoidance of doubt,
this representation does not apply to any loans or advances (if any) which are (or were) made in connection with any Employee Plan
which is intended to be qualified under Section 401(a) of the Code.

 

(h) Except
as set out on Schedule 4.12(h), there is no term of employment for any employee which provides that a change of control
(i) shall be a deemed a breach of his or her service or employment contract, or (ii) would entitle the employee concerned to the
vesting or acceleration of any payment or benefit whatsoever or entitle such employee to be treated as redundant or otherwise dismissed
or released from any such obligation.

 

(i) Except
as required by the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and the regulations (including proposed
regulations) thereunder and any similar state Law, no Employee Plan provides any post-termination or retiree medical or retiree
welfare benefits to any Person.

 

(j) All
“nonqualified deferred compensation plans” (as defined in Section 409A of the Code and the Treasury Regulations
promulgated thereunder) of the Company have been operated in material compliance with Section 409A of the Code and all applicable
guidance (including the Treasury Regulations) promulgated thereunder. The Company is not a party to, or otherwise obligated under,
any Employee Plan that provides for the gross-up of the tax imposed by Section 409A(a)(1)(B) of the Code.

 

(k) No
payment or benefit provided pursuant to any Employee Plan, including the grant, vesting or exercise of any equity-based award,
will or may provide for the deferral of compensation subject to Section 409A of the Code, whether pursuant to the execution
and delivery of this Agreement or the consummation of the Transactions (either alone or upon the occurrence of any additional or
subsequent events) or otherwise. The Company is not a party to, or otherwise obligated under, any Employee Plan that provides for
the gross-up of the tax imposed by Section 409A(a)(1)(B) of the Code. The execution and delivery of this Agreement by the
Company and the consummation of the transactions contemplated by this Agreement and the Related Agreements will not (either alone
or upon the occurrence of any additional or subsequent events) constitute an event under any Employee Plan or Contract that will
or may result in any payment of deferred compensation which will not be in compliance with Section 409A of the Code.

 

(l) The
Company has no employees who are providing services at a location which are subject to the Laws of any jurisdiction outside of
the United States.

 

    	 	17	 

     

    

 

(m) The
execution of this Agreement and the consummation of the transactions contemplated hereby will not (either alone or upon the occurrence
of any other event, such as individual’s termination of employment) constitute an event under any Employee Plan that will
or may result in (A) any payment (whether of severance pay or otherwise), acceleration, forgiveness of indebtedness, vesting, distribution,
increase in benefits or obligation to fund benefits with respect to any employee of the Company or any member of the Company’s
“Controlled Group” and (B) any payment, vesting of benefits or compensation or provision of benefits or compensation
which could be characterized as or deemed to be a “parachute payment”, within the meaning of Code Section 280G(b)(2).
There is no Employee Plan, contract, plan or arrangement to which the Company (or any member of its Controlled Group) is a party
or by which it is bound, that requires the Company (or any member of the its Controlled Group) to compensate any employee, former
employee or any person providing services to the Company (or any member of its Controlled Group) for excise taxes paid pursuant
to Code Section 4999.

 

Section
4.13. Personnel; Labor Relations.

 

(a) Schedule
‎4.13 lists the name of each employee of the Company (“Employee”) and, with respect to
each such Employee, his or her: (i) work location; (ii) position; (iii) hire date; (iv) classification (i.e., exempt or non-exempt);
(v) rate of compensation (base salary or hourly rate of pay); (vi) bonus (or commission) opportunity; and (vii) visa or green card
status.

 

(b) The
Company is not a party to or bound by any collective bargaining or labor contract, voluntary recognition agreement or other binding
commitment to any labor union, trade union, works council or employee organization in respect of any of its employees. There are
not currently, and in the five (5) years preceding the date hereof there have not been, nor are there now threatened, any: (i)
strikes, work stoppages, slowdowns, lockouts or arbitrations; or (ii) employee or union grievances, claims, charges, unfair labor
practice charges, grievances or complaints or other labor disputes with respect to the Company. During the five (5) years preceding
the date hereof, none of the employees of the Company is or has been represented by any labor union or other employee collective
bargaining organization, was a party to, or bound by, any labor or other collective bargaining agreement in connection with such
employment or has been subject to or involved in, or threatened, any union elections, petitions or other organizational or recruiting
activities, nor are any such labor organizing activities now pending or threatened against the Company.

 

(c) The
Company is in compliance in all material respects with all applicable Laws relating to employment or termination of employment,
including those related to wages, hours, compensation, terms and conditions of employment, workplace health and safety, discrimination
or harassment, retaliation, human rights, pay equity, notice of termination, classification of workers (i.e., as employees versus
independent contractors, or as exempt versus non-exempt employees), immigration, collective bargaining and the payment and withholding
of taxes and other sums as required by the appropriate Governmental Entity. The Company has paid in full to all employees, or adequately
accrued for in accordance with GAAP consistently, applied all wages, salaries, commissions, bonuses, benefits and other compensation
due to or on behalf of such employees through the pay period preceding the date hereof. Other than as set forth in Schedule
4.13(c), there is no claim with respect to employment or termination of employment, or payment of wages, salary or overtime
pay that has been asserted or is now pending or threatened before any Governmental Entity, and no audit or investigation by any
Governmental Entity is currently pending or threatened. The Company has no liability, whether direct or indirect, absolute or contingent,
including any obligations under any Employee Plans, with respect to any misclassification of a Person performing services as an
independent contractor or consultant rather than as an employee. To the knowledge of the Company, no group of employees and no
key employee, manager or executive has any current plans to terminate employment in connection with the Closing.

 

    	 	18	 

     

    

 

Section
4.14. Environmental Compliance.

 

(a) The
Company is in compliance, in all material respects, with all applicable Environmental Laws. The Company does not possess any Environmental
Permits for the operation of the Business. There is no Environmental Claim pending or threatened against the Company.

 

(b) The
Company has not treated, stored, disposed of, arranged for or permitted the disposal of, transported, handled, released or exposed
any Person to any Hazardous Substances or owned, used or operated any property or facility (and no such property or facility is
contaminated by any Hazardous Substance), so as to give rise to any Environmental Claim.

 

(c) Without
limiting the generality of the foregoing, the Company has no outstanding legal or contractual obligation under any applicable Environmental
Law, or any unresolved enforcement action, Liability or other Proceeding pursuant to any Environmental Law, including any outstanding
investigation, cleanup, removal, response activity, remediation, or corrective action obligation under any applicable Environmental
Law or any outstanding indemnification obligation owed to any third party under any applicable Environmental Law relating to the
Leased Real Property, any formerly owned real property, any formerly owned, used or operated property, or any offsite disposal
location.

 

(d) Neither
this Agreement nor the consummation of the transactions contemplated hereby will result in any obligations for site investigation
or cleanup, or notification to or consent of any governmental entity or third parties, pursuant to any of the so-called “transaction-triggered”
or “responsible property transfer” Environmental Laws.

 

(e) There
are no current or any abandoned or former underground storage tanks (USTs) located at any real property owned, used or operated
by the Company and any such USTs that do exist are in compliance with applicable Environmental Laws.

 

Section
4.15. Licenses and Permits. The Company has obtained and maintained, and currently maintains, in full
force and effect all Licenses and Permits required to operate the Business as presently conducted in the Ordinary Course of Business
and as currently proposed to be conducted, each of which is set forth on Schedule ‎4.15. To the Knowledge of the Company,
the consummation of the transactions contemplated hereby shall not give any Governmental Entity the right to terminate any of the
Licenses and Permits or the conduct of the Business or require any amendments, registration, or renewal of any such Licenses and
Permits. The Company is in compliance in all material respects with all terms, conditions and requirements of all Licenses and
Permits and no Proceeding is pending or threatened relating to the revocation or limitation of any of such Licenses or Permits.

 

    	 	19	 

     

    

 

Section
4.16. Insurance. Schedule ‎4.16 sets forth a list of all policies of title, liability, fire,
casualty, business interruption, workers’ compensation and all other forms of insurance (including self-insurance arrangements)
(collectively, the “Policies” and individually, each a “Policy”) insuring the
properties, assets or other operations of the Company. A true, correct and complete copy of each Policy has been made available
to the Purchaser. Each of the Policies is in full force and effect. The Company is not in default under any provisions of any Policy,
and the Company has not received notice of cancellation of any Policy. There is no claim by the Company pending under any Policy
as to which coverage has been denied or disputed by the underwriters of any Policy. The Company has not received any notice from
or on behalf of any insurance carrier issuing any Policy that insurance rates therefor shall hereafter be materially increased
or that there shall hereafter be a cancellation or an increase in a deductible (or a material increase in premiums in order to
maintain an existing deductible) or non-renewal of any Policy.

 

Section
4.17. Payment Card Standards. The Company and its Subsidiaries have collected, stored, maintained,
used, shared and processed Personal Information in material compliance with all Applicable Privacy and Data Security Laws and have
taken commercially reasonable steps to protect against any anticipated or actual threats or hazards to the security or integrity
of Personal Information, and from the loss of Personal Information. Company’s and its Subsidiaries’ practices, policies
and procedures with regard to payment instrument information are in material compliance with all rules, regulations, standards
and guidelines adopted or required (i) by all payment card brands that are accepted as a form of payment by, or whose instrument
information is otherwise handled by, Company, and (ii) by the Payment Card Industry Security Standards Council, in either case
relating to privacy, data security or the safeguarding, disclosure or handling of payment instrument information, including but
not limited to (1) the Payment Card Industry Data Security Standards, (2) the Payment Card Industry’s Payment Application
Data Security Standard, (3) the Payment Card Industry’s PIN Transaction Security requirements, (4) Visa’s Cardholder
Information Security Program and Payment Application Best Practices, (5) American Express’s Data Security Operating Policy,
(6) MasterCard’s Site Data Protection Program and POS Terminal Security program, and (7) the analogous security programs
implemented by other card brands, in each case referenced in this sentence as they may be amended from time to time (collectively
referred to herein as the “PCI Requirements”). Other than as set forth on Schedule 4.17, neither
Company nor its Subsidiaries have suffered a breach of Personal Information that was required to be reported to a data subject
or a data owner or licensee pursuant to any Applicable Privacy and Data Security Laws or any other Applicable Laws. Company and
its Subsidiaries have written agreements with each third party service provider or partner having access to Personal Information
requiring compliance with Applicable Privacy and Data Security Laws, including the PCI Requirements to the extent applicable. Company
and its Subsidiaries maintain records of their customers’ communications preferences, such as opt-ins and opt-outs for various
forms of direct marketing, behavioral advertising, and customer tracking, sufficient for Company and its Subsidiaries to honor
such preferences and comply with all Applicable Privacy and Data Security Laws. The Company and its Subsidiaries are and have always
been in compliance with their published privacy policies.

 

    	 	20	 

     

    

 

Section
4.18. Contracts and Commitments. Schedule ‎4.18 contains a list of all of the following
Contracts (collectively, the “Material Contracts”):

 

(a) each
employment agreement and consulting agreement (which requires payment in excess of $50,000 on an annual basis) currently in effect,
along with all bonus, profit-sharing, percentage compensation, deferred compensation, pension, welfare, retirement, stock purchase
or stock option plans or other Contracts with or relating to the Personnel of the Company; further, the Company is not party to
any employment agreements other than at-will employment agreements;

 

(b) each
Contract currently in effect with a customer representing annual revenues in excess of $100,000;

 

(c) Contracts
currently in effect evidencing any Debt of the Company, including Contracts for the repayment or borrowing of money by the Company,
or for a line of credit (including credit card agreements), as well as guarantees of, indemnification for or agreements to acquire
any obligations of others, and all security or pledge agreements related thereto;

 

(d) Contracts
currently in effect relating to any joint venture, partnership, strategic alliance or sharing of profits or losses with any Person
to which the Company is a party or by which it or any of its assets is bound;

 

(e) Contracts
currently in effect that evidence or relate to any obligations of the Company with respect to the issuance, sale, repurchase or
redemption Equity Securities;

 

(f) Contracts
that relate to any Proceeding involving the Company at any time during the last four years;

 

(g) Contracts
relating to the acquisition or disposition of any Equity Securities, business or product line of any other Person pursuant to which
any economic obligations (whether or not contingent) remain outstanding;

 

(h) Contracts
currently in effect that contain covenants limiting the freedom of the Company to compete in any business in any material respect
or in any geographic area;

 

(i) Contracts
currently in effect with respect to any Intellectual Property owned or licensed by the Company;

 

(j) Contracts
currently in effect pursuant to which the Company has granted any exclusive agency, marketing, sales representative relationship
or distribution right to any third party;

 

(k) Contracts
currently in effect providing for capital expenditures by the Company in excess of $25,000;

 

(l) Contracts
currently in effect that require the Company to make other payments equal to more than $25,000 in any calendar year; and

 

(m) Contracts
currently in effect not made in the Ordinary Course of Business.

 

    	 	21	 

     

    

 

The Company has made available to the Purchaser
true, correct and complete copies of all Material Contracts. All of the Material Contracts are in full force and effect. Neither
the Company, nor any other party thereto, has breached any material provision of, or is in material default under the terms of
does any condition exist which (with or without due notice or the passage of time, or both), would cause the Company or any other
party to be in default under any of the Material Contracts. Except as set forth on Schedule ‎4.188, the consummation
of the transactions contemplated by this Agreement shall not afford any other party the right to terminate any such Material Contract
or require notice to or consent of any Person party to a Material Contract, or result in any increase or acceleration of any obligation
under any Material Contract or the payment by the Company of any amount under any Material Contract.

 

Section
4.19. Customers and Suppliers.

 

(a) Schedule
‎4.19(a) sets forth a list of the names of the Company’s top ten (10) customers for the twelve-month period
ended December 31, 2017, based on total revenues for such period. Since December 31, 2017, no customer set forth on Schedule
‎4.19(a) has terminated or adversely modified its relationship with the Company.

 

(b) Schedule
‎4.19(b) sets forth a list of the names of the Company’s top ten (10) suppliers for the twelve-month period
ended December 31, 2017 based on the dollar amount of expenditures by the Company for such period. Since December 31, 2017, no
supplier set forth on Schedule ‎4.19(b) has terminated or adversely modified its relationship with the Company.

 

(c) Since
December 31, 2017, there has been no written communication from any customer set forth on Schedule ‎4.19(a) or
any supplier set forth on Schedule ‎4.19(b) that would lead the Company reasonably to believe that such customer
or supplier, as applicable, is planning to terminate or materially reduce or modify the terms of its business relationship with
the Company.

 

Section
4.20. Compliance with Law.

 

(a) The
Company is in compliance in all material respects with all applicable Laws. The Company is not in default or violation with respect
to any order, writ, judgment, award, injunction or decree of any Governmental Entity or arbitrator applicable to it, or any of
its assets. The Company has not received, at any time during the prior four (4) years from the date of this Agreement, any written
notice from any Governmental Entity regarding any actual, alleged, or potential violation of, or failure to comply with, any term
or requirement of any Law applicable to the Company.

 

(b) Neither
the Company nor any of its managers, directors, officers, equity holders, agents and employees has: (i) used any organizational
funds of the Company for unlawful contributions, gifts, entertainment or other unlawful expenses related to political activity,
(ii) made any unlawful payments to foreign or domestic government officials or employees or to foreign or domestic political parties
or campaigns from corporate funds or violated any provision of the Foreign Corrupt Practices Act of 1977, as amended, or (iii)
made or received any other payment prohibited under any applicable Law. Neither the Company, nor any of its managers, directors,
officers, equity holders, nor, to the Knowledge of the Company, any of its or their respective agents or employees, is or has been
the subject of any investigation, inquiry or enforcement proceeding by any Governmental Entity regarding any offense or alleged
offense under anti-bribery, anti-corruption or anti-fraud legislation in any jurisdiction and no such investigation, inquiry or
proceedings has been threatened.

 

    	 	22	 

     

    

 

Section
4.21. Litigation. Except as set forth on Schedule ‎4.211, (a) there are no Proceedings pending
or threatened by or against the Company or any of its assets or Personnel (with respect to Personnel, in such individual’s
capacity as such), (b) there are no unsatisfied judgments of any kind against or in favor of the Company or any of its assets or
Personnel (with respect to Personnel, in such individual’s capacity as such), and (c) neither the Company nor any of its
Personnel (with respect to Personnel, in such individual’s capacity as such) is subject to any outstanding judgment, order,
or decree of any court or Governmental Entity. The Company is not currently planning to initiate any Proceeding. Except as set
forth on Schedule 4.21, there are no currently existing events, facts or circumstances which could reasonably be expected
to form the basis for any Proceeding or order, or decree of any court or Governmental Entity by or against the Company, or any
of its Personnel (with respect to Personnel, in such individual’s capacity as such).

 

Section
4.22. Title to and Sufficiency of Assets and Related Matters. The Company has good and marketable title
to all of the respective assets owned by it and reflected on the Financial Statements, free and clear of all Encumbrances (other
than Permitted Encumbrances), except as disposed of since December 31, 2017 in the Ordinary Course of Business. The equipment currently
used in the Business is in reasonable working order. The assets and properties owned and leased by the Company comprise all the
assets and properties that are necessary or advisable for the operation of the Business as presently conducted and as presently
contemplated to be conducted without restriction, interruption or limitation, other than any restriction or limitation under any
applicable Law.

 

Section
4.23. Broker’s and Finder’s Fees. No broker, finder or other Person is entitled to any
commission or finder’s fee in connection with this Agreement or with the transactions contemplated by this Agreement as a
result of any actions or commitments of the Company.

 

Section
4.24. Affiliate Transactions. Except as disclosed on Schedule ‎4.13 or Schedule ‎4.24,
the Company is not presently a party to any Contract with any owner, equity holder, manager, director, officer or employee of the
Company (or any relative or other Affiliate of such persons), nor does any of the foregoing have any interest in any of the properties
or assets owned or used by the Company in connection with the operation of the Business. The Company does not provide or cause
to be provided any assets, services, or facilities to any Seller or any manager, director, officer, employee or Affiliate (other
than the Company) of any Seller.

 

Section
4.25. Inventory. Except as disclosed on Schedule 4.25, all items of inventory reflected on the Financial
Statements or acquired after December 31, 2017 and prior to the Closing Date consist of a quality and quantity usable and saleable
in the Ordinary Course of Business except for obsolete items and work-in-process goods, all of which have been written off or written
down to current fair market value on the Financial Statements or on the accounting records of the Company as of December 31, 2017,
as the case may be.

 

    	 	23	 

     

    

 

Section
4.26. Product Matters. With respect to the Company Products, the Company does not have any liability,
whether based on strict liability, gross negligence, breach of Contract or otherwise, with respect to any product, component or
other item designed, manufactured, distributed, assembled, produced, leased or sold by the Company to others, other than standard
warranty obligations (to replace, repair, or refund) made by the Company in the Ordinary Course of Business consistent with past
practice to the purchasers of its products. Schedule ‎4.26 sets forth true, correct and complete copies of the standard
terms and conditions of sale for each of the products or services of the Company. Since January 1, 2015, the Company has not received
notice as to any claim or allegation of any material defect or material failure of any product, of personal injury, death, or property
or economic damages, any claim for punitive or exemplary damages, any claim for contribution or indemnification, or any claim for
injunctive relief in connection with any product sold or distributed by, or in connection with any service provided by, or based
on any error or omission or negligent act in the performance of services by, the Company, and there is no basis for any such claim
and no such claim is threatened. Schedule ‎4.26 completely and correctly describes all such claims since January 1,
2015, together in each case with the date such claim was made, the amount claimed, the disposition or status of such claim (including
settlement or judgment amount), and the amount of attorney’s fees incurred in connection with such claim. The Company has
not had a product recall.

 

Section
4.27. Bank Accounts. Schedule ‎4.27 sets forth a list of all of the bank accounts, investment
accounts, safe deposit boxes, lock boxes and safes held by, or in the name of, the Company, and the names of all managers, directors,
officers, employees or other individuals who have access thereto or are authorized to make withdrawals therefrom or dispositions
thereof.

 

Section
4.28. Plans and Designs. True, correct and complete copies of the plans, designs, test reports, other
reports, specifications, description and manuals relating to the products and services sold, provided or otherwise distributed
by the Company (such products and services, “Company Products” and such plans, designs, test reports,
other reports, specifications, descriptions and manuals, collectively the “Product Plans”) have been
provided to the Purchaser.

 

Section
4.29. Privacy.

 

(a) Schedule
4.29 sets forth a list of all Personal Information held by the Company. The Company undertakes commercially reasonable efforts
to adequately secure all Personal Information held by the Company.

 

(b) The
Company has not received any notice of any claims, investigations, or alleged violations of Law with respect to Personal Information
possessed by or otherwise subject to the control of the Company, and there are no facts or circumstances which could form the basis
for any such violation.

 

(c) To
the Knowledge of the Company, there have been no data breaches involving any Personal Information of any of the Company’s
customers, suppliers or employees.

 

Section
4.30. Full Disclosure. No representation, warranty, covenant or agreement made by any Seller in this
Agreement or in any Related Agreements contains any false or misleading statement of a material fact, or omits any material fact
required to be stated therein or necessary in order to make the statements therein not false or misleading.

 

    	 	24	 

     

    

 

ARTICLE
V

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

 

The Purchaser hereby
represents and warrants to each of the Sellers that the statements contained in this ‎Article V are true, correct and
complete as of the date hereof.

 

Section
5.01. Organization; Power. The Purchaser is a limited liability company duly organized, validly existing,
and in good standing under the Laws of the State of Delaware and has all requisite limited liability company power and authority
to own its properties and assets and to conduct its business as it is now conducted.

 

Section
5.02. Title to the Jacoby Interests. The issuance of the Jacoby Interests to each Seller is duly authorized
in compliance with the Purchaser’s Governing Documents and all applicable securities Laws. Once issued, each Seller shall
possess their respective Jacoby Interests free and clear of all Encumbrances or any restrictions on transfer other than as set
forth in the Purchaser’s Governing Documents, under the Securities Act, or under applicable state securities Laws.

 

Section
5.03. Authorization and Validity of Agreement. The Purchaser has all requisite limited liability company
power and authority to enter into this Agreement and each of the Related Agreements to which it is a party and to perform its obligations
hereunder and thereunder. The execution and delivery of this Agreement and each of the Related Agreements to which it is a party
and the performance of the obligations of the Purchaser hereunder and thereunder have been duly authorized by all necessary limited
liability company action of the Purchaser, and no other limited liability company proceedings on the part of the Purchaser are
necessary to authorize the execution, delivery or performance of this Agreement and each of the Related Agreements to which it
is a party. This Agreement and each of the Related Agreements to which it is a party has been duly executed and delivered by the
Purchaser and constitutes the Purchaser’s valid and binding obligation, enforceable against the Purchaser in accordance with
its terms and conditions, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
or similar Laws affecting the enforcement of creditor’s rights generally or by general principles of equity (whether applied
in a proceeding at law or equity).

 

Section
5.04. No Conflict or Violation. The execution, delivery and performance of this Agreement and each
of the Related Agreements to which it is a party by the Purchaser does not and shall not: (a) violate or conflict with any provision
of its Governing Documents; (b) violate in any material respect any applicable provision of Law; or (c)(i) require any consent
or approval or (ii) violate or result in a breach of or constitute (with or without due notice or the passage of time, or both)
a default under any judicial consent, order or decree or any Contract to which the Purchaser is a party or by which it or any of
its assets or properties are bound.

 

    	 	25	 

     

    

 

Section
5.05. Consents and Approvals. No consent, waiver, authorization or approval of any Governmental Entity,
or of any other Person, or declaration to or filing or registration with any Governmental Entity, is required in connection with
(a) the execution and delivery of this Agreement or any of the Related Agreements by the Purchaser, or any agreement, document
or instrument contemplated hereby or thereby by the Purchaser, or (b) the performance by the Purchaser of its obligations hereunder
or thereunder.

 

Section
5.06. Broker’s and Finder’s Fees. No broker, finder or other Person is entitled to any
commission or finder’s fee in connection with this Agreement or the transactions contemplated by this Agreement as a result
of any actions or commitments of the Purchaser or its Affiliates.

 

Section
5.07. Independent Investigation. Purchaser acknowledges and agrees that: (a) in making its decision
to enter into this Agreement and to consummate the transactions contemplated hereby, Purchaser has relied solely upon its own investigation
and the express representations and warranties of Sellers and Company set forth in Articles III and IV of this Agreement
(including the related portions of the Disclosure Schedules) and (b) none of the Sellers, the Company, or any other Person has
made any representation or warranty as to the Seller, the Company, or this Agreement, except as expressly set forth in Articles
III and IV of this Agreement (including the related portions of the Disclosure Schedules).

 

ARTICLE
VI

INDEMNIFICATION; SURVIVAL

 

Section
6.01. Indemnification By the Sellers.

 

(a) Subject
to the applicable provisions of this ‎Article VI and the last paragraph of this ‎Section 6.01,
the Sellers shall, jointly, but not severally, indemnify and hold harmless the Purchaser and its successors and assigns, members,
directors, managers, partners, Personnel, representatives and agents, and those of its Affiliates (including the Company, on and
after the Closing Date) (collectively, the “Purchaser Indemnified Parties”), from and against any and
all Indemnity Losses directly or indirectly arising from:

 

(i) any
misrepresentation or breach of any warranty regarding the Company contained in this Agreement or any Related Agreement, including,
without limitation, as set forth in ‎Article IV;

 

(ii) 
(x) any Taxes (or the non-payment thereof) of the Company, for any Pre-Closing Tax Period (including that portion of any Straddle
Period ending on the Closing Date, apportioned in accordance with ‎Section 7.03(b)); and (y) any
Taxes of any Person imposed on the Company, as transferee or successor, by Contract, pursuant to any Law (including Treasury Regulation
Section 1.1502-6 or any analogous or similar state, local or foreign law or regulation) or otherwise, which Taxes relate to
an event or transaction occurring before the Closing;

 

(iii) the
presence of Hazardous Substances at, on or beneath the real property that are within the Company’s possession, use or control
on or before the Closing Date or any Environmental Claims existing, or based upon circumstances or conditions existing, on or before
the Closing Date;

 

    	 	26	 

     

    

 

(iv) any
claim based on actual fraud or willful misconduct by or on behalf of the Company arising out of factors or circumstances existing
prior to or as of the Closing; and/or

 

(v) the
matters set forth on Schedule 6.01.

 

(b) Notwithstanding
anything to the contrary contained herein, each Seller shall individually and not jointly with the other Sellers indemnify the
Purchaser Indemnified Parties for any Indemnity Loss arising from:

 

(i) any
misrepresentation or breach of any warranty of such Seller regarding such Seller contained in this Agreement or any Related Agreement,
including, without limitation, as set forth in Article III;

 

(ii) any
breach or failure to perform by such Seller of such Seller’s respective covenants, obligations or agreements contained in
this Agreement or any Related Agreement;

 

(iii) any
Taxes (or non-payment thereof) of such Seller, including such Seller’s share of Transfer Taxes under Section 7.02; and/or

 

(iv) any
claim based on actual fraud or willful misconduct by or on behalf of such Seller.

 

Section
6.02. Indemnification by the Purchaser. The Purchaser shall indemnify and hold harmless the Sellers
(and each of them) and their respective successors, assigns, heirs, representatives and agents (collectively, the “Seller
Indemnified Parties”) from and against any and all Indemnity Losses directly or indirectly arising from or relating
to (a) any misrepresentation or breach of any warranty of the Purchaser contained in this Agreement, or (b) any breach or failure
to perform by the Purchaser of any of its covenants or obligations contained in this Agreement.

 

Section
6.03. Indemnification Notice; Litigation Notice.

 

(a) If
a party believes that it has suffered or incurred any Indemnity Loss for which it is entitled to indemnification pursuant to ‎Section 6.01
or ‎Section 6.02 (such party, the “Claimant”), such Claimant shall notify, as
the case may be, (i) the Purchaser, in the event such Claimant is a Seller Indemnified Party, or (ii) the Seller Representative,
in the event such Claimant is a Purchaser Indemnified Party, promptly in writing (x) identifying the party or parties which such
Claimant believes has or have an obligation to indemnify (the “Indemnifying Party”) and (y) describing
such Indemnity Loss in reasonable detail, including the amount thereof, if known (or estimated amount as necessary) (such written
notice, the “Indemnification Notice”). If any Proceeding is instituted by a third party against the Claimant
with respect to which the Claimant intends to claim any Liability or expense as an Indemnity Loss under this ‎Article
VI (a “Third Party Claim”), such Claimant shall promptly notify the Indemnifying Party in writing
of such Third Party Claim describing such Indemnity Loss in reasonable detail, including the amount thereof, if known (or estimated
amount as necessary) (such written notice, a “Litigation Notice”). For the avoidance of doubt, in the
event that a Third Party Claim arises prior to the time an Indemnification Notice is issued by a Claimant, the Indemnification
Notice and Litigation Notice may be combined into a single notice so long as such notice contains the information required in both
an Indemnification Notice and a Litigation Notice. Notwithstanding the foregoing, the failure or delay to notifying the Indemnifying
Party of any Indemnity Loss or Third Party Claim shall not affect the Claimant’s rights or the Indemnifying Party’s
obligations hereunder, except to the extent that the Indemnifying Party demonstrates that it was materially and adversely prejudiced
thereby.

 

    	 	27	 

     

    

 

(b) If
a claim is one that is asserted directly by the Claimant against an Indemnifying Party, within thirty (30) calendar days after
receipt of the applicable Indemnification Notice, the Indemnifying Party shall, by written notice to the Claimant (a “Claim
Response”), either concede or deny liability for the claim set forth in such Indemnification Notice. If an Indemnifying
Party shall deny liability, in whole or in part, such Claim Response shall be accompanied by a reasonably detailed description
of the basis for such denial. If an Indemnifying Party fails to deliver a Claim Response within such thirty (30) calendar day period
by 5:00 p.m., Eastern time, on the last day of such period, such Indemnifying Party shall be deemed to have conceded, subject only
to the limitations set forth herein, the entire amount of such claim and, subject to the limitations set forth in this ‎Article
VI, the Claimant shall be entitled to the entire amount of such Indemnity Loss. If an Indemnifying Party denies liability for
a claim, in whole or in part, the Purchaser and the Seller Representative shall attempt to resolve such dispute as promptly as
possible. If the Purchaser and the Seller Representative fail to resolve such dispute within thirty (30) calendar days after receipt
of the Claim Response corresponding to such dispute, any party may commence appropriate legal proceedings in order to obtain a
final judgment of a court of competent jurisdiction that is not subject to further appeal as provided in ‎Section 8.12.

 

Section
6.04. Defense of Third Party Claims. Upon receipt of a Litigation Notice, the applicable Indemnifying
Party shall have thirty (30) calendar days after receipt of a Litigation Notice to notify the Claimant in writing that it elects
to conduct and control any Proceeding with respect to an identifiable claim (the “Election Notice”) with
legal counsel reasonably satisfactory to the applicable Indemnified Parties so long as the Third Party Claim (i) seeks solely money
damages (and not injunctive or other equitable relief) and, in the event that the Seller Representative, a Seller, or any of their
respective Affiliates would be the Indemnifying Party, (ii) will have no continuing material adverse effect on the Business or
the Company. In the event the Indemnifying Party so assumes the conduct and control of any such Third Party Claim, such assumption
of the conduct and control by the Indemnifying Party shall conclusively establish for purposes of this Agreement that all Indemnity
Losses incurred by the Indemnified Parties in connection with such Third Party Claim are within the scope of and subject to indemnification
hereunder. If the Indemnifying Party does not give the foregoing Election Notice during such thirty (30) day period, then the Claimant
shall have the right (but not the obligation) to defend, contest, settle or compromise such Third Party Claim in the exercise of
its reasonable discretion. If the Indemnifying Party timely gives the foregoing Election Notice, then the Indemnifying Party shall
have the right to undertake, conduct and control, at the Indemnifying Party’s sole reasonable cost and expense, the conduct
and settlement of such Third Party Claim, and the Claimant shall cooperate, at the Indemnifying Party’s sole reasonable cost
and expense, including by providing reasonable access during regular business hours to records and Personnel of the Company, as
applicable, to the Indemnifying Party in connection therewith; provided, however, that (a) the Indemnifying Party
shall permit the Claimant to participate in such conduct or settlement through legal counsel chosen by the Claimant, but the fees
and expenses of such legal counsel shall be borne solely by the Claimant, and (b) the Indemnifying Party shall not have authority
to compromise or settle any such claim without the prior written consent of the Claimant; provided, however that
Claimant’s consent shall not be unreasonably withheld, conditioned or delayed if such compromise or settlement (1) contains
an unconditional release from all Liability of the Claimant and its Affiliates with respect to such Third Party Claim, (2) does
not result in any Liability to or equitable relief against the Claimant and its Affiliates, (3) would not restrict the future activity
of the Claimant or any of its Affiliates and (4) would not result in the admission or finding of a violation of Law by the Claimant
or any of its Affiliates.

 

    	 	28	 

     

    

 

Section
6.05. Survival.

 

(a) Claims
for indemnification under ‎Section 6.01(a)(i), 6.01(b)(i), and 6.01(b)(ii) shall only
be valid to the extent that such claims are made prior to the twelve (12) month anniversary of the Closing Date. If a Indemnification
Notice or Litigation Notice is provided with respect to such claim prior to the expiration of such period, then the applicable
representations and/or warranties shall survive only as to such claim until such claim has been fully resolved.

 

(b) Claims
arising under the other provisions of Section 6.01, including, without limitation, Section 6.01 (a)(v), or from
any breach of the Fundamental Representations may be made up to the applicable statute of limitation for such claim, without limitation.

 

(c) Claims
arising from any breach of ‎Section 4.14 (the “Environmental Representations”)
may be made until the six (6) year anniversary of the Closing Date.

 

Section
6.06. Additional Indemnification Provisions.

 

(a) The
Sellers indemnity obligations for Indemnified Losses arising under ‎Section 6.01(a)(i), shall not exceed
$5,000,000 (the “Indemnification Cap”); provided, however, that the Indemnification Cap
shall not apply to indemnification for Indemnified Losses the Purchaser Indemnified Party may suffer resulting from, arising out
of, relating to, the breach or alleged breach of any of the following (the “Specified Provisions”); (i)
the Fundamental Representations; (ii) the Environmental Representations, (iii) the items set forth on Schedule 6.01
or (iv) the covenants of the Sellers contained in this Agreement, and no such Damages shall be taken into account to determine
whether the Indemnification Cap has been exceeded with respect to claims for Indemnification not referred to in this proviso. Notwithstanding
the foregoing, Sellers’ indemnity obligations for Indemnified Losses under the indemnification provisions of the Specified
Provisions shall not exceed $10,000,000 if such claim is made prior to the twelve (12) month anniversary of the Closing Date and
shall not exceed $5,000,000 if any such claim is mad thereafter and through the applicable survival period as set forth in Section
6.05(b).

 

(b) No
Indemnifying Party shall be required to indemnify applicable Indemnified Parties for Indemnity Losses arising under ‎Section 6.01(a)(i)
or ‎Section 6.02(a), as applicable, unless and until, and only to the extent that the aggregate amount of
all such Indemnity Losses for which such Indemnified Parties are otherwise entitled to indemnification pursuant to this ‎Article
VI exceeds an amount equal to $50,000 (the “Aggregate Minimum Loss”), following which the Indemnified
Parties shall be entitled to recover all of their respective Indemnity Losses, subject to the provisions set forth in subsection (b)
below; provided, however, that the limitations in this ‎Section 6.06(a) shall not apply to
Indemnity Losses from claims for indemnification arising out of the Specified Provisions.

 

(c) For
purposes of this ‎Article VI, any inaccuracy in or breach of any representation or warranty (and any Indemnity
Losses arising therefrom or related thereto) shall be determined without regard to any materiality, “Material Adverse
Effect” or similar qualification contained in or otherwise applicable to such representation or warranty.

 

    	 	29	 

     

    

 

Section
6.07. Special Rule for Fraud. Notwithstanding anything to the contrary contained in this Agreement,
in the event of any breach of a representation or warranty by any party hereto that constitutes a criminal, fraudulent, or otherwise
intentionally wrongful action or omission, by or on behalf of any Seller, on the one hand, or the Purchaser, on the other hand,
then (a) such representation or warranty shall survive indefinitely, and (b) the limitations set forth in ‎Section 6.06,
as applicable, shall not apply to any Indemnity Loss that the Purchaser Indemnified Parties with respect to the Seller that committed
the fraud or the Seller Indemnified Parties, as the case may be, may suffer, sustain or become subject to, as a result of, arising
out of, relating to or in connection with any such breach.

 

Section
6.08. Sole Remedy. Subject to Section 7.08, the right to indemnification under this ‎Article
VI, subject to all of the terms, conditions and limitations hereof, shall constitute the sole and exclusive right and remedy
available to any party hereto (or any specified third party) for any actual or threatened breach of this Agreement, and none of
the parties hereto shall initiate or maintain any Proceeding against any other party hereto which is directly or indirectly related
to any breach or threatened breach of this Agreement, except that any party may pursue legal or equitable relief against any other
party for any claim based upon fraud or intentional misconduct by or on behalf of the party that committed such fraud or intentional
misconduct. The foregoing shall not limit the rights of a party to seek or obtain injunctive relief based upon the actual breach
of any covenant contained herein and/or to enforce each of the covenants contained herein, pursuant to the terms of this Agreement
(including pursuant to Section 7.08).

 

Section
6.09. Determination of Loss Amount. The amount of any and all Indemnified Losses under this Article
VI will be determined net of any amounts actually recovered by any Indemnified Party or any of such of Indemnified Party’s
Affiliate or pursuant to any insurance policy or title insurance policy pursuant to which or under which such Indemnified Party
or such Indemnified Party’s Affiliates is a party or has rights (collectively, “Alternative Arrangements”)
less any Losses incurred in obtaining the amount recovered under such Alternative Arrangements.

 

Section
6.10. Mitigation. Each Indemnified Party entitled to indemnification hereunder will take commercially
reasonable steps to mitigate all Losses after becoming aware of any event which could reasonably be expected to give rise to any
Indemnified Losses that are indemnifiable or recoverable hereunder or in connection herewith. In the event that an Indemnifying
Party makes any payment to any Indemnified Party for indemnification for which such Indemnified Party could have collected on a
claim against a third party (including under any contract and any insurance claims), such Indemnifying Party will be entitled to
pursue claims and conduct litigation on behalf of such Indemnified Party and any of its successors, to pursue and collect on any
indemnification or other remedy available to such indemnified party thereunder with respect to such claim and generally to be subrogated
to the rights of such Indemnified Party. Except pursuant to a settlement agreed to by the Indemnifying Party, the Indemnified Party
will not waive or release any contractual right to recover from a third party any loss subject to indemnification hereby without
the prior written consent of such Indemnifying Party. The Indemnified Party will, and will cause its Affiliates (including the
Company if the Company is an Affiliate) to, cooperate with the Indemnifying Party, at such Indemnifying Party’s expense,
with respect to any such effort to pursue and collect with respect thereto. Notwithstanding the provisions of this Section 6.10
or the foregoing Section 6.09, in no event shall an Indemnified Party be obligated to seek recovery for all or any portion
of any Indemnified Losses from any third party, including, without limitation, under any Alternative Arrangement, as a condition
to obtaining damages from the applicable Indemnifying Party.

 

    	 	30	 

     

    

 

Section
6.11. Adjustments to Contribution Consideration. Except as required by applicable Law, all indemnification payments
under this Article VI shall be treated as an adjustment to the Contribution Consideration for all Tax purposes.

 

ARTICLE
VII

OTHER AGREEMENTS

 

Section
7.01. Confidential Information.

 

(a) Each
Seller acknowledges and agrees that the Confidential Information of the Company is an asset that the Purchaser will acquire pursuant
to this Agreement. For purposes of this Agreement, “Confidential Information” shall mean the Company’s trade
secrets, other Intellectual Property and other information regarding the Company, the Business and the other business operations
of the Company, which information: (i) was used in the Business and was proprietary to, about or created by the Company (including
the Company’s Personnel) for use in the Business; (ii) is used in the Business as of the Closing Date and is proprietary
to, about or created by the Company (including the Company’s Personnel) for use in the Business; (iii) is designated and/or,
in fact, treated as confidential by the Company; or (iv) is not generally known by any Persons other than Personnel. Each Seller
agrees to maintain the confidentiality of, and refrain from using or disclosing to any Person, all Confidential Information, except
to the extent disclosure of any such information is required by Law or in connection with any claims, disputes or Proceedings against
the Purchaser. Notwithstanding the foregoing, “Confidential Information” shall not include information which: (i) was
in the public domain on the date hereof or comes into the public domain other than through the fault or negligence of such Seller;
(ii) was or is independently developed by Seller after the Closing Date without making use of any Confidential Information; (iii)
is required to be disclosed during the course of pursuing or defending indemnification claims (or the matters underlying such indemnification
claims) or in connection with any disputes between the Purchaser, on the one hand, and the Sellers (or any of them), on the other
hand; or (iv) is required to be disclosed pursuant to applicable Laws or regulations or the order of any court or Governmental
Entity, provided that such Seller shall first notify the Purchaser and the Company of any such order and afford the Purchaser and/or
the Company the opportunity to seek a protective order relating to any such disclosure.

 

    	 	31	 

     

    

 

(b) If
a Seller or any of its Affiliates (other than the Company) is required by interrogatories, requests for information or documents,
subpoenas or similar processes to disclose any Confidential Information, such Person shall provide the Purchaser with prompt prior
written notice of such request or requirement so that the Purchaser may seek an appropriate protective order (and if the Purchaser
seeks such an order, each Seller will, and will cause such Seller’s representatives to, provide such cooperation, at the
expense of the Purchaser, as such the Purchaser shall reasonably request). If, in the absence of a protective order, any Seller
or such Seller’s representative(s) is nonetheless required to disclose Confidential Information, such Seller or representative(s),
as the case may be: (i) may, and will cause each of such Seller’s representatives to, disclose only that portion of the Confidential
Information that they are legally compelled to disclose; and (ii) shall, and shall cause each of such Seller’s representatives
to, at the request of the Purchaser, use its commercially reasonable efforts, at the expense of the Purchaser, to obtain assurance
that confidential treatment will be accorded to such Confidential Information.

 

Section
7.02. Transfer Taxes. All transfer, documentary, sales, use, stamp, duty, recording, registration,
value added and other such similar Taxes and fees (including any penalties, interest and additions to Tax) (collectively, “Transfer
Taxes”) incurred in connection with this Agreement and Related Agreements shall be borne and paid fifty percent (50%)
by Sellers, on the one hand, and fifty percent (50%) by the Purchaser, on the other. The parties agree to cooperate in the preparation
and filing of all such Tax Returns or other applicable documents for or with respect to Transfer Taxes, including timely signing
and delivering such Tax Returns and documents as may be necessary or appropriate to file such Tax Returns or establish an exemption
from (or otherwise reduce) Transfer Taxes.

 

Section
7.03. Preparation of Tax Returns; Payment of Taxes.

 

(a) Seller
Representative shall, at Seller Representative’s expense, prepare, or cause to be prepared, all income Tax Returns with respect
to the Company for the Tax period ending December 31, 2017 and the Tax period ending on the Closing Date (“Pre-Closing
Income Tax Returns”).  Such Pre-Closing Income Tax Returns shall be prepared in a manner that is consistent
with the prior practice of the Company, except as required by applicable Law. At least twenty (20) days prior to filing such Pre-Closing
Income Tax Returns (taking into account any extension), the Seller Representative shall submit a copy of such Pre-Closing Income
Tax Returns to the Purchaser for the Purchaser’s review, comment and approval. Seller Representative shall revise, or cause
to be revised, such Pre-Closing Income Tax Returns to reflect the Purchaser’s comments to such Pre-Closing Income Tax Returns,
if any, prior to filing each such Pre-Closing Income Tax Return with the applicable Governmental Entity; however, if Purchaser's
revisions to such Pre-Closing Income Tax Returns increase the tax liability of Sellers by more than $25,000, Sellers may submit
such revisions to the Accounting Firm for its determination of whether such revisions are required by applicable Law to be made
to such Pre-Closing Income Tax Returns.  The determination of the Accounting Firm shall be rendered within 30 days, and the
Purchaser and Sellers' Representative agree to file such Pre-Closing Income Tax Returns consistently with such determination. 
The Company shall timely pay to the appropriate Governmental Entity the full amount of any Taxes due and payable by the Company
with respect to such Pre-Closing Income Tax Returns. Each Seller shall pay to the Purchaser no later than five (5) business days
before the due date of such Pre-Closing Income Tax Return (taking into account any extension) such Seller’s allocable share
(in accordance with such Seller’s Percentage Interest) of the amount equal to the Taxes payable by the Company with respect
to such Pre-Closing Income Tax Return.

 

    	 	32	 

     

    

 

(b) the
Purchaser shall, at its expense, prepare and timely file, or cause to be prepared and timely filed, (i) all Tax Returns with respect
to the Company for any Tax period ending on or prior to the Closing Date but that are required to be filed after the Closing Date
(other than Pre-Closing Income Tax Returns, which are governed by Section 7.03(a) above), and (ii) any Tax Return required
to be filed by the Company for a Straddle Period (a “Straddle Period Tax Return”). All such Tax Returns
shall be prepared and filed in a manner that is consistent with the prior practice of the Company, except as required by applicable
Law. With respect to Taxes of the Company relating to a Straddle Period, the parties agree that the portion of such Tax that relates
to the portion of such Straddle Period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon
or related to income, receipts, profits, wages, capital, net worth or expenses, be deemed to be the amount of such Tax for the
entire Straddle Period multiplied by a fraction (A) the numerator of which is the number of days in the portion of the Straddle
Period ending on the Closing Date and (B) the denominator of which is the total number of days in the entire Straddle Period, and
(ii) in the case of any Tax based upon or related to income, receipts, profits, wages, capital, net worth or expenses, be determined
as though the taxable year of the Company terminated at the close of business on the Closing Date. Each Seller shall pay to the
Purchaser at least five (5) days before the filing of such Tax Return (taking into account any extension) such Seller’s allocable
share (in accordance with such Seller’s Percentage Interest) of the portion of the Taxes shown as due on such Tax Return
(or, with respect to a Straddle Period Tax Return, the portion of the Taxes shown as due on such Tax Return that relate to the
portion of such Straddle Period ending on the Closing Date (as determined pursuant to this Section 7.03(b))).

 

(c) Without
the consent of the Seller Representative, which consent shall not be unreasonably withheld, conditioned or delayed, the Purchaser
shall not amend or cause to be amended any Tax Return of the Company for any Taxable period ending on or before the Closing Date
unless required by applicable Law.

 

Section
7.04. Cooperation on Tax Matters.

 

(a) The
parties hereto shall cooperate, and shall cause their respective representatives to cooperate, including by agreeing to furnish
or cause to be furnished to the other, upon request, as promptly as practicable, such information and assistance relating to Taxes,
including access to books and records, as is reasonably necessary in preparing and filing all Tax Returns, in making any election
relating to Taxes, in handling audits, examinations, investigations and administrative, court or other Proceedings relating to
Taxes, in resolving all disputes, audits and refund claims with respect to Tax Returns and Taxes and in all other relevant Tax
matters. Any information obtained by any party or its Affiliates from another party or its Affiliates in connection with any Tax
matters to which this Agreement relates shall be kept confidential, except: (i) as may be otherwise necessary (A) in connection
with the filing of Tax Returns or an audit or other Proceeding relating to Taxes or as may be otherwise required by applicable
Law, (B) to enforce rights under this Agreement or (C) to pursue any claim for refund or contest any proposed Tax assessment; or
(ii) for any external disclosure in audited financial statements or regulatory filings which a party reasonably believes is required
by applicable Law or stock exchange or similar applicable rules.

 

(b) Notwithstanding
the provisions of ‎Section 7.04(a), and in addition to all other obligations imposed by this ‎Section 7.04,
each of the Sellers and the Purchaser agree to give the other party reasonable written notice prior to transferring, destroying
or discarding any Files and Records with respect to Tax matters and, if the other party so requests, shall allow the other party
to take possession of such Files and Records.

 

    	 	33	 

     

    

 

Section
7.05. Tax Contests.

 

(a) the
Purchaser or the Company, on the one hand, and the Sellers, on the other hand, shall promptly notify each other upon receipt by
such party of written notice of any inquiries, claims, assessments, audits, proceeding or similar events with respect to Taxes
or Tax Returns of the Company relating to a Pre-Closing Tax Period (any such inquiry, claim, assessment, audit, proceeding or similar
event, a “Tax Matter”).

 

(b) Purchaser
shall have sole control of the conduct of all Tax Matters, including any conduct, control, settlement or compromise thereof; provided,
however, that Purchaser shall not settle or compromise any such Tax Matter without the prior written consent of Seller Representative
(not to be unreasonably withheld, conditioned or delayed).

 

Section
7.06. Release. Effective as of the Closing, each Seller, on behalf of itself, and such Seller’s
Affiliates and each of its and their respective heirs, successors and assigns (collectively, the “Releasing Parties”),
hereby releases, acquits and forever discharges the Company, and any and all of its successors and assigns, together with all their
present and former equity holders, directors, managers, officers and employees (collectively, the “Released Parties”),
from any and all manner of claims, actions, suits, damages, demands and liabilities whatsoever in law or equity, whether known
or unknown, liquidated or unliquidated, fixed, contingent, direct or indirect, which the Releasing Party ever had, has or may have
against any of the Released Parties for, upon, or by reason of any matter, transaction, act, omission or thing whatsoever arising
under or in connection with any of the Released Parties, from facts or circumstances existing from the beginning of time to and
including the Closing Date, other than obligations arising under this Agreement or any transactions or documents contemplated thereby
or executed in connection therewith.

 

Section
7.07. Non-Competition; Non-Solicitation. Each of the Sellers hereby acknowledges that: (i) in addition
to disposing of such Seller’s beneficial ownership interest in the Company as set forth in this Agreement, such Seller is
selling all the goodwill of the Company associated with or attributable to the Contributed Interests; (ii) such Seller has contributed
to the development of the goodwill of the Company; and (iii) the parties hereto have agreed upon the consideration for the Contributed
Interests to specifically include and reflect such sale of goodwill. In consideration of the sale of such Seller’s beneficial
ownership in the Company, including the sale of all goodwill, and the Purchaser’s agreement to issue to such Seller such
Seller’s allocation of Jacoby Interests (subject to the terms and conditions set forth herein), such Seller agrees that:

 

(a) Except
as provided in this Section 7.07, during the period commencing at the Closing and up to and through the earlier of
(x) the fourth (4th) anniversary of the Closing Date and (y) such date that is three (3) years after the termination of such party’s
applicable Consulting Agreement (the “Restricted Period”), neither BLP nor Clive Fleissig, whether directly
or indirectly, shall for itself or himself, on behalf of or in conjunction with any other Person in any capacity (as a principal,
equity holder, joint-venturer, partner, director, officer, agent, executive, consultant, contractor, employee, lender or otherwise),
and such party shall cause such party’s respective Affiliates not to (whether or not for pecuniary benefit) (collectively,
the “Covenanting Party”):

 

    	 	34	 

     

    

 

(i) induce,
solicit, hire, recruit or attempt to persuade any Person to terminate such Person’s employment or other relationship with
the Company or any of its Affiliates (collectively, “Company Parties”) or not to establish an employment
or other relationship with any Company Party, whether or not such Person is or would be an employee, consultant, contractor, manager,
director, officer and/or employee, whether or not such relationship is or would be pursuant to a written or oral agreement and
whether or not such relationship is for a specific period of time or is at-will, other than through general solicitations published
or otherwise distributed to the public at large, not targeting nor delivered directly to, or for the ultimate receipt by, any Company
Party;

 

(ii) employ
or establish a business relationship with (or attempt to employ or establish a business relationship with), or encourage or assist
any Person to employ or establish a business relationship with, any individual who is, was at any time within the six (6) month
period prior to the date hereof, or will be at any time during the Restricted Period, an employee, consultant, contractor, manager,
officer, director or employee of any Company Party other than through general solicitations published or otherwise distributed
to the public at large, not targeting nor delivered directly to, or for the ultimate receipt by, any Company Party;

 

(iii) direct
or engage in any act which may interfere with or materially and adversely affect, alter or change the relationship (contractual
or otherwise) of any Company Party with any Person that is a Client, Prospective Client, vendor, supplier or contractor of any
Company Party, or otherwise induce or attempt to induce any such Person to cease doing business, reduce or otherwise limit its
business with any Company Party, in each case, to the extent such Covenanting Party has Knowledge of any such Client, Prospective
Client, vendor, supplier or contractor and their relationship or interactions with any Company Party;

 

(iv) solicit
business from any Client or Prospective Client, or do business with any Client or Prospective Client, involving the Business or
any business that is directly competitive with the Business; or

 

(v) engage
or participate in, manage, operate, be employed by, consult with, advise, or be financially interested in, any Person engaged in
the Business anywhere where the Company transacts the Business during the three (3) year period immediately prior to the Closing
Date (provided, however, that nothing contained in this ‎Section 7.07 shall prevent the holding
for passive investment of less than five percent (5%) of any class of equity securities of a company whose securities are publicly
traded on a national securities exchange or in a national market system).

 

(b) For
purposes of this ‎Section 7.07, “Client” means a Person for whom or which
any Company Party performed services or to whom or which any Company Party sold or licensed its products, during the prior twelve
(12) months. “Prospective Client” means Persons whose business was solicited by any Company Party during
the prior twelve (12) months.

 

    	 	35	 

     

    

 

(c) This
‎Section 7.07 shall not restrict or limit a Seller from: (i) soliciting or hiring (x) any employee or former
employee (1) whose employment or relationship with any Company Party was terminated at least (A) 180 days before such solicitation
in the event such employment or relationship was terminated by the applicable Company Party or (B) one year before such solicitation
in the event such employment or relationship was terminated by the former employee, or (2) by general solicitations not specifically
directed at any such employee; or (ii) performing services for the Purchaser, the Company or any Affiliate thereof pursuant to
any employment agreement to be entered into at Closing.

 

(d) The
Sellers acknowledge that the restrictions contained in this Section 7.07 are reasonable and necessary to protect the
legitimate interests of the Purchaser and its Affiliates (including the Company) and constitute a material inducement to the Purchaser
to enter into this Agreement and the Related Agreements and to consummate the transactions contemplated by this Agreement and the
Related Agreements. In the event that any covenant contained in this Section 7.07 should ever be adjudicated to exceed
the time, geographic, product or service, or other limitations permitted by applicable Laws in any jurisdiction, then any court
is expressly empowered to reform such covenant, and such covenant shall be deemed reformed, in such jurisdiction to the maximum
time, geographic, product or service, or other limitations permitted by applicable Laws. The covenants contained in this Section 7.07
and each provision hereof are severable and distinct covenants and provisions. The invalidity or unenforceability of any such covenant
or provision as written shall not invalidate or render unenforceable the remaining covenants or provisions hereof, and any such
invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenant or provision in any
other jurisdiction.

 

Section
7.08. Remedies. (a) Each Seller acknowledges that remedies at
law may be inadequate to protect the Purchaser and the Company against any actual or threatened breach of ‎Section 7.01
or ‎Section 7.07 by such Seller. Without limiting any other rights or remedies available to the Purchaser, the
Purchaser will, in addition to any and all other rights and remedies that may be available to it in respect of such breach, be
entitled to obtain equitable relief from an actual or threatened violation of ‎Section 7.01 or ‎Section 7.07,
including specific performance and temporary or permanent injunctive relief. To obtain any such equitable relief, the Purchaser
need not post a bond or other security or prove actual damages.

 

Section
7.09. Seller Representative.

 

(a) Each
Seller hereby irrevocably appoints BLP as such Seller’s representative, agent and attorney in fact for and on behalf of the
Sellers, and BLP is hereby the Seller Representative for all purposes under this Agreement. Without limiting the generality of
the foregoing, the Seller Representative has full power and authority, on behalf of each Seller and such Seller’s successors
and assigns, to (i) interpret the terms and provisions of this Agreement and the Related Agreements, (ii) execute and deliver and
receive deliveries of all agreements, certificates, statements, notices, approvals, extensions, waivers, undertakings, amendments
and other documents required or permitted to be given in connection with the consummation of the transactions contemplated by this
Agreement and any Related Agreement, (iii) receive service of process in connection with any claims under this Agreement or any
Related Agreement, (iv) agree to, negotiate and enter into settlements and compromises of, assume the defense of claims, and comply
with orders of courts and awards of arbitrators with respect to such claims, and to take all actions necessary or appropriate in
the judgment of the Seller Representative for the accomplishment of the foregoing, (v) give and receive notices and communications,
(vi) take all actions necessary or appropriate in the judgment of the Seller Representative on behalf of the Sellers in connection
with this Agreement, and (vii) authorize recovery by any the Purchaser Indemnified Party of claims brought by any the Purchaser
Indemnified Party for Indemnity Losses.

 

    	 	36	 

     

    

 

(b) From
and after the Closing, a decision, act, consent or instruction of the Seller Representative will constitute a decision of all Sellers
and will be final, binding, conclusive and non-appealable upon each Seller, and the Purchaser is hereby entitled to rely upon any
decision, act, consent or instruction of the Seller Representative as being the decision, act, consent or instruction of each Seller.
Any notice or communication delivered by the Purchaser or any Company Party to the Seller Representative after the Closing shall,
as between the Purchaser and such Company Party, on the one hand, and the Sellers, on the other hand, be deemed to have been delivered
to all Sellers. The Purchaser, the Company, and each of their respective Affiliates shall be entitled to rely exclusively upon
any communication or writings given or executed by the Seller Representative in connection with any claims for indemnity and shall
not be liable in any manner whatsoever for any action taken or not taken in reliance upon the actions taken or not taken or communications
or writings given or executed by the Seller Representative. The Purchaser, the Company, and each of their respective Affiliates
shall be entitled to disregard any notices or communications given or made by the Sellers in connection with any claims for indemnity
unless given or made through the Seller Representative in accordance with the provisions of this Agreement.

 

ARTICLE
VIII

MISCELLANEOUS

 

Section
8.01. Public Announcements. No party to this Agreement, other than Purchaser, shall make any public
announcement of the transactions provided for in, or contemplated by, this Agreement or any of the Related Agreements unless the
form and substance of the announcement is agreed upon by the Purchaser at Purchaser’s sole, absolute and unfettered discretion,
or unless public disclosure is necessary to comply with applicable Laws, provided the Person required to make such disclosure gives
Purchaser reasonable prior notice thereof and cooperates in good faith with Purchaser’s efforts to prevent or limit such
disclosure, and shall then only make such disclosure as is necessary to comply with the applicable Laws, as so modified, if at
all, by Purchaser. The Purchaser shall not make any public announcement prior to the Closing Date without the prior consent of
Sellers, which consent shall not be unreasonably withheld, conditioned or delayed. Purchaser may make any public announcement at
any time following the Closing Date.

 

Section
8.02. Costs and Expenses. Purchaser shall at its sole cost and expense bear all expenses and costs
incurred by the Parties herein in connection with this Agreement and the Related Agreements and the transactions contemplated by
any of them, including the fees and disbursements of any legal counsel, independent accountants or any other Person or representative
whose services have been used by the Parties.

 

Section
8.03. Further Assurances. From and after the date of this Agreement, the parties shall cooperate reasonably
with each other in connection with any steps required to be taken as part of their respective obligations under this Agreement
or any of the Related Agreements, and shall: (a) furnish upon request to each other such further information, (b) execute and deliver
to each other such other documents, and (c) do such other acts and things, all as the other party may reasonably request for the
purpose of carrying out the intent of transactions contemplated by this Agreement and the Related Agreements.

 

    	 	37	 

     

    

 

Section
8.04. Addresses for Notices, Etc.. All notices, requests, demands and other communications that are
required or may be given pursuant to the terms of this Agreement shall be in writing, and delivery shall be deemed sufficient in
all respects and to have been duly given, as follows: (a) on the actual date of service if delivered personally, (b) at the time
of receipt of confirmation by the transmitting party if by electronic transmission, (c) at the time of receipt if given by electronic
mail to the e-mail addresses set forth in this ‎Section 8.04, provided that a party sending notice by electronic
delivery shall bear the burden of authentication and of proving transmittal, receipt and time of receipt, or (d) on the day after
delivery to a nationally recognized overnight courier service during its business hours or the Express Mail service maintained
by the United States Postal Service during its business hours for overnight delivery against receipt, and properly addressed as
set forth in this ‎Section 8.04:

 

	If to the Sellers or the Seller Representative:	
        Jeffrey Sherman

        Better Life Products, Inc.

        359 Van Ness Way,

        Torrance, CA 90501

        E-mail: Jsherman@vapornation.com

         

        With copy to:

        Jeffrey Sherman

        Better Life Products, Inc.

        c/o Clive Fleissig

        10561 Rochester Avenue

        Los Angeles, CA, 90024

        E-mail cfleissig@rochesteradvisors.com

	 	 
	With a copy to (which copy shall not constitute notice hereunder):	
        Royse Law Firm, P.C.

        149 Commonwealth Ave.

        Suite 1001

        Menlo Park, CA 94025

        Attn: Harpreet Walia

        Facsimisle: (650) 813-9777

        E-mail: hwalia@rroyselaw.com

         

	If to the Purchaser:	
        Jacoby Holdings LLC

        6501 Park of Commerce Blvd., Suite 200

        Boca Raton, FL 33487

        Attn: Aaron LoCascio

        E-mail: aaron@gnln.com

	 	 
	With a copy to (which copy shall not constitute notice hereunder):	
        Pryor Cashman LLP

        7 Times Square

        New York, NY 10036

        Attn: Jeffrey C. Johnson

        Facsimile: (212) 326-0118

        E-mail: jjohnson@pryorcashman.com

 

Any party may change its address or other
contact information for notice by giving notice to each other party in accordance with the terms of this ‎Section 8.04.

 

    	 	38	 

     

    

 

Section
8.05. Headings. The Article, Section and paragraph headings in this Agreement are for reference
purposes only and shall not affect the meaning or interpretation of this Agreement.

 

Section
8.06. Construction.

 

(a) The
parties have participated jointly in the negotiation and drafting of this Agreement and the Related Agreements, and, in the event
of an ambiguity or a question of intent or a need for interpretation arises, this Agreement and the Related Agreements shall be
construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party
by virtue of the authorship of any of the provisions of this Agreement or any of the Related Agreements.

 

(b) Except
as otherwise specifically provided in this Agreement or any of the Related Agreements (such as by use of the words “sole”,
“absolute discretion”, “complete discretion” or words of similar import), if any provision of this Agreement
or any of the Related Agreements requires or provides for the consent, waiver or approval of a party, such consent, waiver or approval
shall not be unreasonably withheld, conditioned or delayed.

 

(c) The
Disclosure Schedules referred to herein shall be construed with and as an integral part of this Agreement to the same extent as
if they were set forth verbatim herein.

 

(d) Words
of any gender used in this Agreement or any of the Related Agreements shall be held and construed to include any other gender;
words in the singular shall be held to include the plural and words in the plural shall be held to include the singular, unless
and only to the extent the context indicates otherwise.

 

(e) “Hereunder,”
“hereof,” “hereto,” “herein,” and words of similar import shall be deemed references to this
Agreement as a whole and not to any particular Article, Section or other provision hereof.

 

    	 	39	 

     

    

 

(f) “Including”
(and with correlative meaning “includes” or “include”) means including without limiting the generality
of any description preceding such term.

 

(g) References
to documents, instruments or agreements shall be deemed to refer as well to all addenda, appendices, Exhibits, Schedules or amendments
thereto.

 

Section
8.07. Severability. The invalidity or unenforceability of any provision of this Agreement or any of
the Related Agreements shall in no way affect the validity or enforceability of any other provision of this Agreement or any of
the Related Agreements. Wherever possible, each provision hereof shall be interpreted in such a manner as to be effective and valid
under applicable Law. In case any one or more of the provisions contained herein shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such provision or provisions shall be ineffective to the extent, but only to the extent,
of such invalidity, illegality or unenforceability, without invalidating the remainder of such invalid, illegal or unenforceable
provision or provisions or any other provisions hereof, unless such a construction would be unreasonable.

 

Section
8.08. Entire Agreement and Amendment. This Agreement and the Related Agreements, including the Exhibits
and Schedules referred to and incorporated by reference herein and therein that form a part of this Agreement and the Related Agreements,
contain the entire understanding of the parties with respect to the subject matter of this Agreement and the Related Agreements.
This Agreement and the Related Agreements supersede all prior agreements and understandings among the parties hereto with respect
to the transactions contemplated by this Agreement and the Related Agreements, including any and all letters of intent, memoranda
of understanding, term sheets or the like. This Agreement may not be amended, supplemented or otherwise modified except by a written
agreement executed by each of the Purchaser and the Seller Representative, and any such amendment, supplement or modification set
forth in such executed written agreement shall be binding on all of the parties hereto.

 

Section
8.09. No Waiver; Cumulative Remedies. Except as specifically set forth herein, the rights and remedies
of the parties to this Agreement are cumulative and not alternative. No failure or delay on the part of any party in exercising
any right, power or remedy under this Agreement or any of the Related Agreements shall operate as a waiver of such right, power
or remedy, and no single or partial exercise of any such right, power or remedy shall preclude any other or further exercise of
such right, power or remedy or the exercise of any other right, power or remedy. To the maximum extent permitted by applicable
Law: (a) no claim or right arising out of this Agreement or any of the Related Agreements can be discharged by one party, in whole
or in part, by a waiver or renunciation of the claim or right unless in writing signed by the other party, (b) no waiver that may
be given by a party shall be applicable except in the specific instance for which it is given, and (c) no notice to or demand on
one party shall be deemed to be a waiver of any obligation of that party or of the right of the party giving such notice or demand
to take further action without notice or demand as provided in this Agreement or any of the Related Agreements.

 

Section
8.10. Parties in Interest. Nothing in this Agreement is intended to confer any rights or remedies under
or by reason of this Agreement on any Person other than the Purchaser and each of the Sellers and their respective successors and
permitted assigns and the Purchaser Indemnified Parties and the Seller Indemnified Parties under ‎Article VI; provided,
however, that the Company shall be a third party beneficiary of the covenants and agreements set forth in Sections ‎7.01,
‎7.07 and 7.08.

 

    	 	40	 

     

    

 

Section
8.11. Successors and Assigns; Assignment. This Agreement shall be binding upon and inure to the benefit
of each of the parties hereto and their respective successors and permitted assigns. No Seller shall assign or delegate such Seller’s
rights or duties hereunder or under any of the Related Agreements, in whole or in part, without the prior written consent of the
Purchaser. The Sellers hereby consent to the Purchaser’s assignment of this Agreement and the rights hereunder to its Affiliates
and to the collateral assignment of the Purchaser’s rights under this Agreement and the Related Agreements to lenders of
the Purchaser or its Affiliates. Any purported assignment made in contravention of this ‎Section 8.11 shall be
null and void.

 

Section
8.12. Governing Law; Jurisdiction and Venue. This Agreement, and all claims or causes of action (whether
at law, in contract, in tort or otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation,
execution or performance hereof, shall be governed by and construed in accordance with the Laws of the State of Delaware, without
giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that
would cause the application of the Laws of any jurisdiction other than the State of Delaware. Each of the parties hereto irrevocably
(a) consents to submit itself to the personal jurisdiction of the United States District Court for the Southern District of New
York in the event any dispute arises out of this Agreement or any of the transactions contemplated hereby, and, in connection with
any such matter, to service of process by notice as otherwise provided herein, (b) agrees that it will not attempt to deny or defeat
such personal jurisdiction by motion or other request for leave from any such court and (c) agrees that it will not bring any action
relating to this Agreement or any of the transactions contemplated hereby in any court other than in the United States Court for
the Southern District of New York. Any party may make service on another party by sending or delivering a copy of the process to
the party to be served at the address and in the manner provided for the giving of notices in ‎Section 8.04.

 

Section
8.13. Waiver of Jury Trial. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVES ALL RIGHT
TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON LAW, CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR THE ACTIONS OF THE PARTIES IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF.

 

Section
8.14. Counterparts. This Agreement may be executed in multiple original, electronic or facsimile counterparts,
each of which will be deemed an original, but all of which when taken together shall constitute one and the same agreement.

 

[Signatures Begin on Following Page]

 

    	 	41	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Contribution Agreement to be executed as of the date first written above.

 

	 	THE PURCHASER
	 	 
	 	JACOBY HOLDINGS LLC
	 	 	 
	 	By:	/s/ Aaron LoCascio
	 	Name:	Aaron LoCascio
	 	Title:	Co-President
	 	 	 
	 	SELLERS
	 	 
	 	BETTER LIFE PRODUCTS, INC.
	 	 	 
	 	By:	/s/ Jeffrey Sherman
	 	Name:	Jeffrey Sherman
	 	Title:	President
	 	 	 
	 	ROCHESTER VAPOR GROUP, LLC
	 	 	 
	 	By:	/s/ Clive Fleissig
	 	Name:	Clive Fleissig
	 	Title:	Manager
	 	 	 
	 	SELLER REPRESENTATIVE
	 	 
	 	BETTER LIFE PRODUCTS, INC.
	 	 	 
	 	By:	/s/ Jeffrey Sherman
	 	Name:	Jeffrey Sherman
	 	Title:	President

 

[Signature
Page Contribution Agreement]

 

     

     

    

 

EXHIBIT A

 

Definitions

 

As used in this Agreement,
the following terms have the meanings indicated below:

 

“Accounting
Firm” means Grant Thornton LLP, or such other accounting firm of similar standing that has no preexisting relationship
with any party hereto, as mutually agreed by Purchaser and Sellers' Representative.

 

“Affiliate”
means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by or is under common control
with such Person, as the case may be. As used in this definition, “control” (including, its correlative meanings “controlled
by” and “under common control with”) means possession, directly or indirectly, of power to direct or cause the
direction of management or policies (whether through ownership of ten percent (10%) or more of outstanding voting securities or
partnership or other ownership interests, by Contract or otherwise).

 

“Applicable
Privacy and Data Security Laws” means (a) all privacy, security, data collection, data protection, data sharing,
direct marketing, consumer protection, location tracking, customer tracking, behavioral marketing, and workplace privacy laws,
rules and regulations of any applicable jurisdiction and all then-current industry standards, guidelines and practices with respect
to privacy, security, data protection, data sharing, direct marketing, consumer protection, location tracking, customer tracking,
behavioral marketing, and workplace privacy, including the collection, processing, storage, protection and disclosure of Personal
Information, and (b) the applicable data security and privacy policies of the Company and its Subsidiaries.

 

“Business”
means the sale and distribution of tobacco vaporizers and other similar products.

 

“Business
Day” means any day other than Saturday, Sunday and any day on which commercial banks in the State of New York are
authorized by Law to be closed.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Contract”
means any contract, agreement, indenture, note, bond, loan, instrument, lease, conditional sale contract, mortgage, license, franchise,
insurance policy, commitment or other arrangement or agreement, whether written or oral.

 

    	 	A-1	 

     

    

 

“Debt”
means, with respect to any Person: (a) all indebtedness of such Person for borrowed money, amounts payable under debt or like instruments,
including outstanding promissory notes or letter of credit facilities and any principal, interest, overdrafts, premiums, make whole
premiums or payments, fees and prepayment, termination and other penalties and expenses with respect to the foregoing; (b) for
the reimbursement of amounts drawn on any letter of credit and in respect of bankers’ acceptances or similar transactions;
(c) all obligations of such Person under conditional sale or other title retention agreements relating to property or assets purchased
by such Person; (d) all obligations of such Person issued or assumed as the deferred purchase price of property, goods or services
(including earn outs but excluding trade payables or accruals incurred in the Ordinary Course of Business); (e) all indebtedness
of any other Person with respect to borrowed money, notes payable or amounts outstanding under letter of credit facilities, which
amounts are secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured
by) any Encumbrance on property or assets owned by such Person, whether or not the obligations secured thereby have been assumed;
(f) all guarantees, whether direct or indirect, by such Person of indebtedness of any other Person with respect to borrowed money,
notes payable or amounts outstanding under letter of credit facilities; (g) all capital lease obligations that have or should have
been capitalized in accordance with GAAP; (h) customer deposits and sums received in advance from customers; (i) all amounts owed
by the Company to any Person under any noncompetition, bonus, and severance agreements or retirement and termination arrangements
(to the extent any amounts owed pursuant to such agreements or arrangements do not become payable as a result of any action taken
by the Purchaser or any of its Affiliates post-Closing), consulting or deferred compensation arrangements arising in connection
with a transaction not in the Ordinary Course of Business, (including the transaction contemplated under this Agreement); (j) any
Company credit card balances that are unrelated to the Business; and (k) all negative cash and obligations arising from cash/book
overdrafts. For the avoidance of doubt, all of the Company’s debt obligations to any Seller or other equityholder of the
Company shall be considered Debt of the Company.

 

“Employee
Plans” means any “employee benefit plan” as defined in Section 3(3) of ERISA (whether or not subject
to ERISA) and each other plan, policy, program, practice, agreement, understanding or arrangement (whether written or oral) providing
compensation or other benefits to any current or former director, manager, officer, employee or consultant (or to any dependent
or beneficiary thereof) of the Company or any ERISA Affiliate of the Company, which is now, or was maintained, sponsored or contributed
to by the Company or any ERISA Affiliate of the Company, or under which the Company or any ERISA Affiliate of the Company has or
may have any obligation or liability, whether actual or contingent, including all incentive, bonus, deferred compensation, change
in control, employment, severance, retirement, vacation, holiday, cafeteria, fringe benefit, medical, disability, stock purchase,
sick leave, option, stock appreciation, phantom stock, restricted stock or other stock-based compensation plans, policies, programs,
practices or arrangements.

 

“Encumbrance”
means all liens (statutory or other), leases, mortgages, pledges, security interests, conditional sales agreements, charges, claims,
options, easements, rights of way (other than easements of record) and other encumbrances of any kind or nature whatsoever.

 

“Environmental
Claim” means any and all administrative, regulatory or judicial actions, suits or proceedings as well as any actions,
suits or proceedings initiated by a third party, public or private, alleging liability arising out of or resulting from: (a) the
presence or Release into the environment of any Hazardous Substance at the real property that is within the Company’s possession,
use or control; or (b) any violation or alleged violation of Environmental Law.

 

“Environmental
Laws” means all federal, state or local statutes, laws, regulations, judgments and orders relating to protection
of human health or the environment, including laws and regulations relating to Releases or threatened Releases of Hazardous Substances,
or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of
Hazardous Substances.

 

    	 	A-2	 

     

    

 

“Environmental
Permits” means all Licenses and Permits issued pursuant to Environmental Law.

 

“Equity
Securities” means, with respect to a Person that is an entity, any shares of capital stock, limited liability company
interests, options, warrants, phantom equity, convertible notes or other convertible debt instruments or other equity securities
of such Person which have ever been offered or sold by such Person.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974 and the rules of regulations promulgated thereunder from time to time.

 

“ERISA
Affiliate” means any Person that, together with the Company, is required to be treated as a single employer under
Section 414 of the Code.

 

“Files
and Records” means all financial and accounting files, records and other information of the Company.

 

“Fundamental
Representation” means any representation or warranty set forth in ‎Section 3.01 (Organization; Power;
Capacity), ‎Section 3.02 (Authorization and Validity of Agreement), ‎Section 3.03 (Title to the
Contributed Interests), Section 3.06 (Acquisition for Own Account), Section 3.08 (Accredited Investor),
Section 3.09 (No Bad Actor Disqualification), Section 3.11 (Anti-Terrorism and Money Laundering Activities),
‎Section 3.12 (Broker’s and Finder’s Fees), ‎Section 4.01 (Organization; Power), ‎Section 4.02
(Capitalization), ‎Section 4.06 (Tax Matters), the first sentence of ‎Section 4.22 (Title to Assets
and Related Matters), ‎Section 4.23 (Broker’s and Finder’s Fees), ‎Section 5.01 (Organization;
Power), ‎Section 5.02 (Title to the Jacoby Interests), Section 5.03 (Authorization and Validity of
Agreement).

 

“GAAP”
means the prevailing generally accepted accounting principles in the United States, in effect from time to time, consistently applied
with past practices of the Company.

 

“Governing
Documents” means, with respect to any particular entity: (a) if a corporation, the articles or certificate of incorporation
and the bylaws of such entity; (b) if a general partnership, the partnership agreement and any statement of partnership; (c) if
a limited partnership, the limited partnership agreement and the certificate of limited partnership; (d) if a limited liability
company, the articles or certificate of organization or formation and the limited liability company operating agreement; (e) if
another type of Person, any other charter or similar document adopted or filed in connection with the creation, formation or organization
of the Person; (f) all equity holders’ agreements, voting agreements, voting trust agreements, joint venture agreements,
registration rights agreements or other agreements or documents relating to the organization, management or operation of any Person
or relating to the rights, duties and obligations of the equity holders of any Person; and (g) any amendment, restatement or supplement
to any of the foregoing.

 

“Governmental
Entity” means any court, government agency, department, commission, board, bureau or instrumentality of the United
States, any local, county, state, federal or political subdivision thereof, or any foreign governmental entity of any kind.

 

“Hazardous
Substances” means any chemicals, materials or substances which are defined as or included in the definition of “hazardous
substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous wastes,”
“restricted hazardous wastes,” “toxic substances,” “toxic pollutants” or similar terms under,
or otherwise regulated under, any Environmental Law.

 

    	 	A-3	 

     

    

 

“Indemnified
Parties” means the Purchaser Indemnified Parties or the Seller Indemnified Parties, as the context requires.

 

“Indemnity
Loss” means, net of any applicable insurance proceeds, actual damages, losses, obligations, Liabilities, Taxes, deficiencies,
claims, encumbrances, penalties, costs, disbursements and expenses, including reasonable costs of investigation and defense and
reasonable attorneys’ fees and expenses; provided, however, that “Indemnity Loss” shall not include consequential
damages, indirect damages, exemplary damages, speculative damages, lost profits, diminution in value, or special or punitive damages
(other than special or punitive damages payable to a third party).

 

“IPO”
means an initial public offering of equity securities pursuant to an effective registration statement filed under the Securities
Act or, if earlier, the registration of such equity securities pursuant to Section 12(b) or Section 12(g) of the Securities
Exchange Act of 1934, as amended, or any Canadian Law equivalents.

 

“Knowledge”
or words of similar import, means, with respect to any Person, the actual knowledge of such Person, in each case with such additional
knowledge as such Person would acquire after having undertaken reasonable due inquiry. With respect to the Company, “Knowledge”
means the Knowledge of Jeffrey Sherman and Clive Fleissig.

 

“Law”
means any local, county, state, federal, foreign or other law, statute, regulation, ordinance, rule, order, decree, judgment, consent
decree, settlement agreement or governmental requirement enacted, promulgated, entered into, agreed or imposed by any Governmental
Entity.

 

“Liability”
with respect to any Person, means any Debt, liability or obligation of such Person of any kind, character or description, whether
known or unknown, absolute or contingent, accrued or unaccrued, disputed or undisputed, liquidated or unliquidated, secured or
unsecured, joint or several, due or to become due, vested or unvested, executory, determined, determinable or otherwise, and whether
or not the same is required to be accrued on the financial statements of such Person. For the avoidance of doubt, with respect
to the Company, Liability shall include Debt.

 

“Licenses
and Permits” means all licenses, permits, franchises, certificates, approvals and authorizations that relate directly
or indirectly to, or are necessary for, the conduct of the Business or the operation of the assets and all pending applications
therefor or renewals thereof, including any of the foregoing required under Environmental Law.

 

    	 	A-4	 

     

    

 

“Material
Adverse Effect” when used with respect to the Company, means any event, change, circumstance or effect that, individually
or in the aggregate, has had, or is reasonably likely to have, a materially adverse effect upon the assets, financial condition
or results of operations of the Company; provided, however, that none of the following shall be deemed to constitute, and none
of the following shall be taken into account in determining whether there has been, a Material Adverse Effect: (a) any adverse
change, event, development or effect arising from or relating to (i) general business or economic conditions, including such conditions
related to the Business, (ii) national or international political or social conditions, including the engagement by the United
States in hostilities, whether or not pursuant to the declaration of a national emergency or war or the occurrence of any military
or terrorist attack upon the United States, or any of its territories, possessions, or diplomatic or consular offices or upon any
military installation, equipment or personnel of the United States, (iii) financial, banking or securities markets (including any
disruption thereof and any decline in the price of any security or any market index), (iv) changes in Law, (v) the taking of any
action contemplated by this Agreement and the other agreements contemplated hereby, (vi) any “act of God,” including
weather, natural disasters and earthquakes, or (vii) changes resulting from the announcement of the execution of this Agreement
or the transactions contemplated hereunder; except, with respect to clauses (i), (iii) or (iv), to the extent that such change,
event, development or effect has a materially disproportionate effect on the business of the Company relative to other businesses
in the industry in which the Company operates.

 

“Multiemployer
Plan” means any Employee Plan that is a “multiemployer plan” within the meaning of Section 4001(a)(3)
or Section 3(37) of ERISA.

 

“Ordinary
Course of Business” means any action taken by a Person if such action is consistent in nature, scope and magnitude
with the past practices of such Person and is taken in the ordinary course of the normal day-to-day operations of such Person.

 

“Percentage
Interest” means, with respect to a Seller, such Seller’s aggregate economic percentage interest of the equity
of the Company as set forth on Exhibit B attached hereto.

 

“Permitted
Encumbrance” means any of the following: (a) carriers, workmen, warehousemen, repairmen, mechanics, contractors,
materialmen and other similar Persons and other liens imposed by applicable Laws; (b) with respect to the real property that is
within the Company’s possession, use or control, the provisions of all applicable zoning Laws; (c) purchase money liens securing
rental payments under capital lease arrangements that will be released as of the Closing; (d) Encumbrances created by, or for the
benefit of, the Purchaser; and (e) Encumbrances for Taxes not yet due and payable or for Taxes that are being contested in good
faith by appropriate proceedings and for which adequate reserves have been provided on the books and records of the Company in
accordance with GAAP.

 

“Person”
means any individual, corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust
or unincorporated organization, or any Governmental Entity, officer, department, commission, board, bureau or instrumentality thereof.

 

“Personal
Information” means, in addition to any definitions provided by the Company for any similar term (e.g., “personally
identifiable information” or “PII”) in the Company’s privacy policy or other public-facing statement, all
information regarding or capable of being associated with an individual person or device, including (a) information that identifies,
could be used to identify or is otherwise identifiable with an individual, including an individual’s name, physical address,
telephone number, email address, financial account number or government-issued identifier (including Social Security number and
driver’s license number), medical, biometric, health or insurance information, gender, date of birth, educational or employment
information, religious or political views or affiliations, marital or other status, and any other data used or intended to be used
to identify, contact or precisely locate an individual (e.g., geolocation data), (b) information that is created, maintained, or
accessed by an individual (e.g., videos, audio or individual contact information), (c) any data regarding an individual’s
activities online or on a mobile device or other application (e.g., searches conducted, web pages or content visited or viewed)
and (d) Internet Protocol addresses, unique device identifiers or other persistent identifiers. Personal Information may relate
to any individual, including a current, prospective or former customer or employee of any Person. Personal Information includes
information in any form, including paper, electronic and other forms.

 

    	 	A-5	 

     

    

 

“Personnel”
means any manager, director, officer or employee of a particular Person.

 

“Pre-Closing
Tax Period” means any Tax period ending on or before the Closing Date and that portion of any Straddle Period ending
on the Closing Date.

 

“Proceeding”
means any judicial, administrative or arbitral actions, suits or proceedings (public or private) by or before any Governmental
Entity or before any arbitrator, mediator or other alternative dispute resolution provider pursuant to any collective bargaining
agreement, contractual agreement or Law, and including any audit or examination, or other administrative or court proceeding with
respect to Taxes or Tax Returns.

 

“Related
Agreements” means all other agreements, documents and certificates entered into pursuant to this Agreement, except
for the Consulting Agreements.

 

“Release”
means any release, spill, emission, emptying, leaking, injection, deposit, disposal, discharge, dispersal, leaching, pumping, pouring,
or migration into the atmosphere, soil, surface water, groundwater or property.

 

“Securities
Act” means the Securities Act of 1933, as amended and the rules and regulations promulgated thereunder from time
to time.

 

“Seller
Representative” means the Person appointed agent and attorney in fact for and on behalf of the Sellers pursuant to
‎Section 7.09.

 

“Straddle
Period” means any Tax period beginning on or before and ending after the Closing Date.

 

“Subsidiary”
means a Person of which more than twenty-five percent (25%) of the voting power of the Equity Securities is owned, directly or
indirectly, by the specified Person.

 

“Tax”
or “Taxes” means all federal, state, local and foreign taxes (including income taxes, excise taxes, value
added taxes, occupancy taxes, employment taxes, withholding taxes, escheat or unclaimed property, unemployment taxes, ad valorem
taxes, custom duties and transfer taxes) and similar fees, levies, imposts, impositions, assessments and governmental charges imposed
upon a Person, including all taxes and governmental charges imposed upon any of the personal properties, real properties, tangible
or intangible assets, income, receipts, payrolls, transactions, equity transfers, equity, net worth or franchises of a Person (including
all sales, use, withholding or other taxes which a Person is required to collect or pay over to any government), and all related
additions to tax, penalties or interest thereon.

 

    	 	A-6	 

     

    

“Tax Return”
means and includes all returns, statements, declarations, estimates, forms, reports, information returns and any other documents
(including all consolidated, affiliated, combined or unitary versions of the same) relating to Taxes, including all related and
supporting information, in each case, filed or required by Law to be filed with any Governmental Entity in connection with the
determination, assessment, reporting, payment, collection or administration of any Taxes, and including Treasury Form TD F 90-22.1
and FinCEN Form 114.

 

“Treasury
Regulations” means the Treasury Regulations promulgated under the Code, as such Treasury Regulations may be amended
from time to time. Any reference herein to a particular provision of the Treasury Regulations means, where appropriate, the corresponding
successor provision.

 

“Warranty
Claims” means any claims arising in respect of the Company’s obligations under any extended warranties sold
by the Company covering Company Products, but specifically excluding warranty claims arising from any manufacturer’s warranty
covering Company Products.

 

Each of the following
terms is defined in the Section set forth opposite such term:

 

	Defined Terms	 	Section
	Aggregate Minimum Loss	 	Section 6.06(b)
	Agreement	 	Preamble
	Alternative Arrangements	 	Section 6.09)
	BLP	 	Preamble
	Claim Response	 	Section 6.03(b)
	Claimant	 	Section 6.03(a)
	Client	 	Section 7.07(b)
	Closing	 	Section 2.01
	Closing Date	 	Section 2.01
	Company	 	Recitals
	Company Parties	 	Section 7.07(a)(i)
	Company Products	 	Section 4.28
	Company Software Products	 	Section 4.11(g)
	Company Systems	 	Section 4.11(j)
	Consulting Agreements	 	Section 2.02(n)
	Contributed Interests	 	Recitals
	Contribution Consideration	 	Section 1.02
	Covenanting Party	 	Section 7.07(a)
	Disclosure Schedules	 	Article IV
	Disqualification Event	 	Section 3.09
	Election Notice	 	Section 6.04
	Employee	 	Section 4.13(a)
	Environmental Representations	 	Section 6.05(c)
	Financial Statements	 	Section 4.05(a)
	Indemnification Cap	 	Section 6.06(a)
	Indemnification Notice	 	Section 6.03(a)
	Indemnifying Party	 	Section 6.03(a)
	Intellectual Property	 	Section 4.11(a)
	Intellectual Property License	 	Section 4.11(a)
	Jacoby Interests	 	Section 1.02
	Jacoby Operating Agreement	 	Section 2.02(b)
	Leased Real Property	 	Section 4.09(a)
	Litigation Notice	 	Section 6.03(a)
	Material Adverse Effect	 	Section 6.06(c)
	Material Contracts	 	Section 4.18
	Open Source Code	 	Section 4.11(g)
	Operating Agreement	 	Section 2.02(i)
	PCI Requirements	 	Section 4.17
	Pension Plan	 	Section 4.12(e)
	Policy or Policies	 	Section 4.16
	Pre-Closing Income Tax Returns	 	Section 7.03(a)
	Product Plans	 	Section 4.28
	Prospective Client	 	Section 7.07(b)
	Purchaser	 	Preamble
	Purchaser Indemnified Parties	 	Section 6.01(a)
	Real Property Leases	 	Section 4.09(a)
	Released Parties	 	Section 7.06
	Releasing Parties	 	Section 7.06
	Restricted Period	 	Section 7.07(a)
	Rule 506(d) Related Party	 	Section 3.09
	Seller or Sellers	 	Preamble
	Specified Provisions	 	Section 6.06(a)
	Straddle Period Tax Return	 	Section 7.03(b)
	Tax Matter	 	Section 7.05(a)
	Third Party Claim	 	Section 6.03(a)
	Transfer Taxes	 	Section 7.02

    	 	A-7	 

     

    

 

EXHIBIT B

 

Sellers

 

	Seller	 	Interests	 	Percentage Interest	 
	 	 	 	 	 	 
	Better Life Products, Inc.	 	12,000,000 Class A Common Units	 	 	79.019	%
	 	 	 	 	 	 	 
	Rochester Vapor Group, LLC	 	3,186,166 Class B Common Units	 	 	20.981	%

 

 

    	 	B-1	 

     

    

 

EXHIBIT C-1

 

BLP Consulting Agreement

 

(See attached.)

 

    	 	C-1	 

     

    

 

EXHIBIT C-2

 

Fleissig Consulting Agreement

 

(See attached.)

 

    	 	C-2

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