Document:

gryn_ex1010.htm

 
EXHIBIT 10.10
 
CONSULTING AGREEMENT
 
THIS AGREEMENT dated for reference the 15th day of February 2020 (the "Effective Date") BETWEEN:
 
GREEN HYGIENICS HOLDINGS INC.
13795 Blaisdell Place, Suite 202
Poway, CA 92064
(the "Company")
 
AND:
 
Todd Mueller
3600 S. Pierce St. #1-102
Denver, Colorado 80235
(the "Consultant")
 
NOW THEREFORE in consideration of the premises and the covenants and agreements of the parties hereto as hereinafter set forth, and for other good and reliable consideration, the sufficiency of which is hereby acknowledged by the parties, the parties hereto covenant and agree as follows:
 
	 1.
	 Engagement. The Company does hereby appoint and engage the Consultant to provide the Services (as defined below) and the Consultant hereby accepts such appointment and engagement by the Company, all upon and subject to the terms and conditions of this Agreement.

		  

	 2.
	 Services. During the Term (as defined in Section 4), the Consultant shall provide to the Company:

  
	  
	 -
	 Fulfill role of the Chief Financial Officer

			
	  
	 -
	 Provide general advisory services, strategic planning advice, and lead all corporate administration activities.

  
	 3.
	 Payment for Services.

  
	  
	 i)
	 The Consultant shall be paid a monthly fee of $ 0 USD (the “Base Fee”’ for the Services together with any other compensation that the Company, in its sole discretion, may decide, payable upon receipt of the Consultant’s invoice.

			
	  
	 ii)
	 The Consultant shall receive an annual allocation of 100,000 Common Shares orOptions. The first issuance of 50,000 will be payable upon execution of this agreement and the balance at nine months mark. Beyond this first year a compensation committee will determine the annual allocation of shares.

			
	  
	 iii)
	 Bonus - Consultant will be eligible for annual performance bonuses, or milestone achievement bonuses, in cash and/or common shares as per company programs at the sole discretion of the Board of Directors. Reviews of total compensation are by the Board of Directors or the Compensation Committee in their annual review, or at whatever meeting interval as not yet established. The Consultant will be eligible for any stock option programs put into place after public listing, as reviewed and approved by the Board of Directors, or Compensation Committee in its annual review.

			
	  
	 All reasonable expenses of, or incidental to the services contemplated hereunder, including all reasonable expenses of or incidental to the services provided, shall be borne by the Company. Such expenses shall include reasonable "out-of-pocket" expenses. The Company shall have the right to pre-approve any expense that in total may reasonably be expected to exceed $1000 USD and may be required from time to time. All expenses shall be paid upon submission of invoices.

  
	 4.
	 Term and Renewal. The term of this Agreement shall commence on the Effective Date and an initial 6 months (to be re-evaluated after nine months (the "Term"}, unless earlier terminated as hereinafter provided or unless the parties have agreed to renew this Agreement.

		
	  
	 Following the evaluation period the Company and the Consultant may extend the Term for up to 5 years on similar terms and conditions by further agreement in writing to that effect.

		
	  
	 The Company may terminate this Agreement for any reason prior to the expiry of this Agreement with 30-day notice and full vesting of stock or stock options for the period of engagement. The Consultant may end this Agreement with 30 days written notice prior to the end of the term.

  
	 
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	 5.
	 Limited Authority as Agent. The Consultant may not act as an agent of the Company except with the express prior written authority of the Company. Without limiting the generality of the foregoing, the Consultant shall not commit or be entitled to commit the Company to any obligation whatsoever nor shall the Consultant incur or be entitled to incur any debt or liability whatsoever on behalf of the Company, without the express prior written authority of the Company. Any obligations, debts or liabilities incurred other than as aforesaid shall be exclusively for the account of the Consultant.

		  

	 6.
	 Confidentiality. The Consultant understands and agrees that in the performance of its obligations under this Agreement. the Consultant may obtain knowledge of Confidential Information (as defined below) relating to the business or affairs of the Company or of any of its subsidiaries or affiliated companies. The Consultant agrees that it shall not, without the prior written consent of the Company, either during the Term or at any time thereafter:

   
	  
	 (a)
	 use or disclose any Confidential Information outside of the Company (or any of its subsidiary or affiliated companies) or for any use or purpose other than those of the Company (or any of its subsidiary or affiliated companies);

			
	  
	 (b)
	 publish any article with respect thereto; or

			
	  
	 (c)
	 except in providing the Services, remove or aid in the removal from the premises of the Company any Confidential Information or any property or material relating thereto.

  
	 7.
	 In this Agreement, "Confidential Information" means any information or knowledge including, without limitation, any inventions, typography, formula, pattern, design, system, program, device, software, plan, process, know how, research, discovery, strategy, method, idea, client list, marketing strategy, employee compensation, document, materials, records, copies, adaptations, or compilation of information that:

  
	  
	 (a)
	 relates to the business or affairs of the Company (or any of its subsidiary or affiliated companies);

			
	  
	 (b)
	 is private or confidential in that it is not generally known or available to the public; and

			
	  
	 (c)
	 gives or would give the Company (or any of its subsidiary or affiliated companies) an opportunity to obtain an advantage over competitors who do not know of or use it.

  
	 8.
	 Relationship. The Company and Consultant each acknowledge and agree that the only relationship of the Consultant to the Company created by this Agreement shall for all purposes be that of an independent contractor, and all Persons employed or engaged by the Consultant in connection herewith shall for all purposes be employed or engaged, as applicable, by the Consultant and not by the Company. The Company shall have no obligation whatsoever to:

  
	 
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	 (a)
	 pay or compensate the Consultant and / or any representative thereof for:

  
		  
	 (i)
	 taxes of any kind whatsoever that arise out of or with respect to any fee, remuneration or compensation provided to the Consultant under this Agreement;

				
		  
	 (ii)
	 holding any position with the Company;

  
	  
	 (b)
	 provide benefits to the Consultant and/ or any representative thereof relating to:

  
		  
	 (i)
	 sickness or accident, whether resulting from the performance by the Consultant of its obligations under this Agreement;

				
		  
	 (ii)
	 retirement or pension benefits; or

				
		  
	 (iii)
	 any other benefits provided by the Company or any of the Affiliated Companies to any of their employees.

  
	 9.
	 The Consultant shall fully indemnify and hold harmless the Company from and against all assessments, claims, liabilities, costs, expenses and damages that the Company may suffer or incur with respect to any such taxes or benefits.

	 	  

	 10.
	 This Agreement may be executed in counterparts, each of which will be deemed to be an original and all of which will together constitute one and the same instrument and delivery of an executed copy of this Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Agreement as of the Effective Date.

  
IN WITNESS, WHEREOF the Parties have executed and delivered this Agreement as of the Effective Date.
 
GREEN HYGIENICS HOLDINGS INC.
 
_______________________________
Ron Loudoun, CEO
 
/s/ Todd Mueller 
Todd Mueller, Consultant
 
	 3gryn_ex1011.htm

EXHIBIT 10.11
 
MODIFICATION AGREEMENT
 
THIS MODIFICATION AGREEMENT (this “Agreement”) is made and entered into effective as of March 31, 2020 (the “Effective Date”), by and between GREEN HYGIENICS HOLDINGS INC., a Nevada corporation (“Borrower”), and TRITON FUNDS LP, a Delaware limited partnership (“Holder”).
 
Recitals
 
A. Borrower and Holder are parties to a Securities Purchase Agreement dated as of December 19, 2019 (the “SPA”) and a Registration Rights Agreement dated as of December 19, 2019 (the “RRA”).
 
B. Pursuant to the SPA, Borrower issued a convertible promissory note (the “Note”) in the principal amount of $750,000 (the “Note”) to Holder with an issue date of December 19, 2019.
 
C. As of January 8, 2020, Borrower and Holder entered into an Amending Agreement, pursuant to which the issue date was amended to be December 31, 2019 and the Maturity Date (as defined in the Note) was amended to be June 30, 2020.
 
D. Borrower and Holder have agreed to modify the Note in accordance with the terms and conditions set forth in this Agreement.
 
Agreement
 
In consideration of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and Holder hereby agree as follows:
 
1. Principal Payment; Affirmation of Unpaid Principal Balance. 
 
1.1 Affirmation of Unpaid Principal Balance. Borrower affirms that the unpaid principal balance of the Note as of the date hereof is Seven Hundred Fifty Thousand Dollars ($750,000.00).
 
1.2 Curtailment Payment. Within ten (10) business days of the execution of this Agreement, Borrower shall pay to Holder, in immediately available funds, the sum of Two Hundred Fifty Thousand Dollars ($250,000.00) (the “Payment”). The parties agree that the Payment shall be applied to outstanding interest, then to the principal balance of the Note.
 
2. Amendments to Note.
 
2.1 Maturity Date. The Maturity Date of the Note shall be August 20, 2020.
 
	 
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2.2 Conversion Price. The Conversion Price of the Note shall be 75% of the Market Price (as defined herein) (representing a discount rate of 25%). “Market Price” means the lowest Trading Price (as defined herein) for the Common Stock during the thirty (30) Trading Day period ending on the last complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the OTCB, OTCQX, Pink Sheets electronic quotation system or applicable trading market (the “OTC”) as reported by a reliable reporting service (“Reporting Service”) designated by Holder (i.e. Bloomberg) or, if the OTC is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded, or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets”. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by Borrower and Holder in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTC, or on the principal securities exchange or other securities market on which the Common Stock is then being traded.
 
2.3 Minimum Volume Weighted Average Price. Section 3.14 of the Note is hereby deleted in its entirety.
 
3. No Novation. Borrower acknowledges and agrees that this Agreement does not discharge or cancel remaining existing indebtedness evidenced by any Note, and it is not a new debt of Borrower.
 
4. Other Provisions in Full Force. Except as specifically provided herein, the Loan Agreement, the Note, the Deed of Trust, and the other loan documents shall remain in full force and effect in accordance with their original terms and conditions, including, without limitation, those provisions providing for the acceleration of the indebtedness evidenced by the Note.
 
5. Notices. Any notice required, permitted or contemplated hereunder shall be in accordance with the applicable “Notices” provision in the SPA.
 
6. Miscellaneous. This Agreement sets forth the entire agreement of the parties with respect to the subject matter of this Agreement and supersedes all previous understandings, written or oral, in respect of this Agreement. This Agreement may be signed by facsimile signatures or other electronic delivery of an image file reflecting the execution hereof, and if so signed, (a) may be relied on by each party as if the document were a manually signed original and (b) will be binding on each party for all purposes. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. This Agreement may be executed in multiple counterparts, each of which shall constitute an original, but all which together shall constitute one and the same agreement. If any term of this Agreement is found invalid by a court of competent jurisdiction, the invalid term will be considered excluded from this Agreement and will not invalidate the remaining terms of this Agreement. At no time shall the prior or subsequent course of conduct by Borrower or Holder directly or indirectly limit, impair, or otherwise adversely affect any of the parties’ rights or remedies in connection with this Agreement or any of the documents, instruments and agreements executed in connection herewith, as Holder and Borrower agree that this Agreement and the documents, instruments, and agreements executed in connection herewith shall only be amended by written instruments executed by Holder and Borrower. This Agreement is made and entered into for the protection and benefit of Holder and Borrower and their permitted successors and assigns, and no other person, association, authority or entity shall be a direct or indirect beneficiary of or have any direct or indirect cause of action or claim in connection with this Agreement.
 
	 
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IN WITNESS WHEREOF, Holder and Borrower have executed this Agreement to be effective as of the Effective Date.
 
GREEN HYGIENICS HOLDINGS INC.
 
By: ________________________________
Ron Loudoun, President and CEO
  
Accepted as of the Effective Date.
  
TRITON FUNDS LP
  
By: ________________________________
Ashkan Mapar, Authorized Signatory
 
	 
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