Document:

Exhibit
10.1

 

ASSIGNMENT
AGREEMENT

 

ASSIGNMENT
AGREEMENT (the “Agreement”), dated as of July 20, 2020, by and between Joseph Gallo (“Assignor”) and Jeffrey
M. Canouse (“Assignee”).

 

The
Seller is the holder of 6,177,000 shares of common stock (the “Shares”) issued by Madison Technologies, Inc. (the
“Company”), in connection with Seller’s role as chief executive officer of the Company (the “Shares”).

 

Assignor
desires to assign Shares to Assignee, and Assignee desires to receive Shares from Assignor. Parties are executing and delivering
this Agreement in reliance upon an exemption from securities registration afforded by the Securities Act of 1933, as amended (the
“1933 Act”);

 

NOW
THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.
ASSIGNMENT OF SHARES.

 

a.
The date and time of the Assignment of the Shares pursuant to this Assignment shall be no later than July 20, 2020.

 

2.
PARTIES REPRESENTATIONS AND WARRANTIES. The Parties represents and warrants that:

 

a.
Accredited Purchaser; Assignee represents that it is an “Accredited Investor” as defined in Regulation D under the
Securities Act of 1933. Assignee reserves the right to transfer the Shares at any time in accordance with Federal and state securities
laws.

 

b.
Governmental Review. Assignee understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Shares thereunder.

 

c.
Title. Assignor has good and marketable title to the Shares.

 

Governing
Law; Jurisdiction. THIS AGREEMENT SHALL BE ENFORCED, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITH SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT
OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL OR STATE COURTS LOCATED IN
NEW YORK COUNTY, NEW YORK WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS AGREEMENT.

 

    	 

    	 

    

 

Counterparts;
Signatures by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original
but all of which shall constitute one and the same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party. This Agreement, once executed by a party, may be delivered to the other party hereto
by facsimile transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

IN
WITNESS WHEREOF, the Parties have caused this Assignment Agreement to be duly executed as of the date first above written.

 

	ASSIGNOR	 
	 	 
	/s/Joseph
    Gallo	 
	Joseph
    Gallo	 
	 	 
	ASSIGNEE	 
	 	 
	/s/Jeffrey
    M. Canouse	 
	Jeffrey
    M. CanouseEXHIBIT
4.2

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE

SECURITIES
EXCHANGE ACT OF 1934

 

As
of December 31, 2020, Blue Star Foods Corp. (the “Company”) had one class of securities registered under Section 12
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), being its common stock, $0.0001 par value.
The following description of the Company’s common stock is a summary and does not purport to be complete. It is subject
to and qualified in its entirety by reference to the Company’s Amended and Restated Certificate of Incorporation and Amended
and Restated By-laws, each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this
Exhibit 4.2 is a part. We encourage you to read the Charter, Bylaws and the applicable provisions of Delaware law for additional
information.

 

Authorized
Capital Stock

 

The
Company’s authorized capital stock consists of 100,000,000 shares of common stock, par value $0.0001 per share, and 10,000
shares of preferred stock designated 8% Series A convertible preferred stock, par value $0.0001 per share.

 

Common
Stock

 

The
holders of outstanding shares of common stock are entitled to receive dividends out of assets or funds legally available for the
payment of dividends, subject to any preferences that may be applicable to any shares of preferred stock that may be outstanding
at that time, at such times and in such amounts as the board of directors from time to time may determine. Holders of common stock
are entitled to one vote for each share held on all matters submitted to a vote of stockholders. There is no cumulative voting
of the election of directors then standing for election. The common stock is not entitled to pre-emptive rights and is not subject
to conversion or redemption. Upon liquidation, dissolution or winding up of the Company, the assets legally available for distribution
to stockholders are distributable ratably among the holders of the common stock after payment of liquidation preferences, if any,
on any outstanding payment of other claims of creditors.

 

Listing

 

Our
common stock is quoted on the OTC pink sheets under the symbol “BSFC”.

 

Transfer
Agent

 

The
transfer agent and registrar for our common stock is VStock Transfer, LLC, with an address of 18 Lafayette Place, Woodmere, New
York 11598 and its telephone number is (212) 828-8436.

 

Delaware
Anti-Takeover Statute

 

We
are subject to Section 203 of the Delaware General Corporation Law, which prohibits a person deemed an “interested stockholder”
from engaging in a “business combination” with a publicly held Delaware corporation for three years following the
date such person becomes an interested stockholder unless the business combination is, or the transaction in which the person
became an interested stockholder was, approved in a prescribed manner or another prescribed exception applies. Generally, an “interested
stockholder” is a person who, together with affiliates and associates, owns, or within three years prior to the determination
of interested stockholder status did own, 15% or more of a corporation’s voting stock. Generally, a “business combination”
includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. The
existence of this provision may have an anti-takeover effect with respect to transactions not approved in advance by the board
of directors, such as discouraging takeover attempts that might result in a premium over the price of our common stock.

 

    	 

    	 

    

 

Undesignated
Preferred Stock

 

The
ability to authorize undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting
or other rights or preferences that could impede the success of any attempt to change control of the company. These and other
provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of the company.

 

Special
Stockholder Meetings

 

Our
certificate of incorporation bylaws provide that a special meeting of stockholders may be called only by a majority of our board
of directors.

 

Requirements
for Advance Notification of Stockholder Nominations and Proposals

 

Our
certificate of incorporation and bylaws establish advance notice procedures with respect to stockholder proposals and the nomination
of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee
of the board of directors.

 

The
provisions of the Delaware General Corporation Law, our certificate of incorporation and our bylaws could have the effect of discouraging
others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the price of our
common stock that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of
preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions
that stockholders may otherwise deem to be in their best interests.Exhibit
10.26

 

PROMISSORY
NOTE

 

	$100,000.00	Miami,
    Florida
	 	January
    1st, 2021

 

FOR
VALUE RECEIVED, BLUE STAR FOODS CORP., a Delaware corporation (the “Borrower”), promises to pay to the
order of Lobo Holdings, LLLP, a Florida Limited Liability Corporation (the “Lender”, the principal sum of One
Hundred thousand Dollars ($100,000.00), together with interest on the unpaid principal balance at the rate and on the terms provided
herein.

 

	 	1.	Interest
    Rate. Interest shall accrue on the unpaid principal balance of this Promissory Note (including all modifications,
    substitutions, renewals or extensions hereof, this “Note”) at the rate of 10% per annum (the “Interest
    Rate”) from the date hereof until the Note is paid in full. Interest shall be paid for the actual number of days
    elapsed based on a 360-day year and shall be payable together with payments of principal.
	 	 	 
	 	2.	Maturity
    Date. The term of the Note shall be the period commencing on the date hereof and ending on June 30, 2021 (the “Maturity
    Date”).
	 	 	 
	 	3.	Payment.
    The outstanding accrued, but unpaid, interest and principal balance due under the Note shall be due and payable on the Maturity
    Date. If the Maturity Date is not a Business Day, payments shall be due on the next Business Day. For purposes of this Note,
    “Business Day” means any day other than a Saturday, Sunday or other day on which banking institutions in New York
    are authorized or required by law to close. Amounts due under this Note shall be payable by certified or bank cashier’s
    check, or by wire transfer of immediately available funds to an account designated by Lender in writing.
	 	 	 
	 	4.	Pre-Payment.
    The Note may be prepaid in whole or in part at any time or from time to time during the term of the Note. Any such prepayment
    shall be applied first to interest accrued but unpaid to such date on the outstanding principal balance hereof immediately
    preceding such prepayment and then to reduction of the principal balance hereof. There will be no penalty for pre-payment
    of the Note.
	 	 	 
	 	5.	Default.
    The unpaid principal, interest and other amounts and charges due under the Note shall be immediately due and payable upon
    the occurrence of the following:

 

	 	a.	Default
    in any payment of principal or interest due on the Note or default under any other provision of the Note; or
	 	 	 
	 	b.	The
    Borrower makes an assignment for the benefit of creditors, files a petition in bankruptcy, is adjudicated insolvent or bankrupt,
    petitions or applies to any tribunal for any receiver of any trustee for the Borrower or any substantial part of its property,
    commences any proceeding relating to the Borrower under any reorganization, arrangement, readjustment of debt, dissolution
    or liquidation law or statute of any jurisdiction, whether now or hereafter in effect, or there is commenced against the Borrower
    any such action or proceeding which remains undismissed for a period of thirty (30) days, or the Borrower by any act indicates
    its consent to, approval of or acquiescence in any such action or proceeding or the appointment of any receiver of or any
    trustee for the Borrower or any substantial part of its property, or suffers any such receivership or trusteeship to continue
    undischarged for a period of thirty (30) days.

 

    	 

    	 

    

 

	 	6.	Waiver.
    Presentment for payment and demand for payment, notice of dishonor, protest and notice of protest, notice of non-payment,
    notice of intent to accelerate the maturity and acceleration are hereby waived.
	 	 	 
	 	7.	Amendment.
    The Note cannot be modified, discharged or terminated except in writing signed by the parties hereto.
	 	 	 
	 	8.	Cost
    of Collection. The Borrower shall pay all reasonable costs and expenses, including reasonable attorneys’ fees,
    incurred by the Lender in collecting or enforcing the Note.
	 	 	 
	 	9.	Governing
    Law. The Note shall be governed by, and construed in accordance with, the laws of the State of Florida applicable
    to contracts made and to be performed in such State, without giving effect to the conflicts of laws principles thereof.
	 	 	 
	 	10.	Savings
    Clause. Any provision herein or in any other agreement or commitment between the Borrower and the Lender, whether
    written or oral, expressed or implied, to the contrary notwithstanding, the Lender shall never be entitled to charge, receive,
    or collect, nor shall amounts received hereunder be credited as interest so that the Lender shall be paid, a sum greater than
    interest at the maximum nonusurious interest rate, if any, that at any time may be contracted for, charged, received, or collected
    on the indebtedness evidenced by the Note under applicable law (the “Maximum Rate”). It is the intention
    of the parties that the Note shall comply with applicable law. If the Lender ever contracts for, charges, receives, or collects,
    anything of value which is deemed to be interest under applicable law, and if the occurrence of any circumstance or contingency,
    whether acceleration of maturity of the Note, delay in advancing proceeds of the Note; or other event, should cause such interest
    to exceed interest at the Maximum Rate, any such excess amount shall be applied to the reduction of the unpaid principal balance
    of the Note or any other indebtedness owed to the Lender by the Borrower, and if the Note and such other indebtedness is paid
    in full, any remaining excess shall be paid to the Borrower. In determining whether or not the interest hereon exceeds interest
    at the Maximum Rate, the total amount of interest shall be spread throughout the entire term of the Note until its payment
    in full in a manner which will cause the interest rate on the Note not to exceed the Maximum Rate.
	 	 	 
	 	11.	Independent
    Legal Counsel. Each party hereto has been advised and has had the opportunity to consult with independent legal counsel
    regarding its rights and obligations under the Note and acknowledges that it fully understandings the terms and conditions
    contained herein.

 

The
Borrower agrees to the terms of the Note by signing below.

 

	 	BLUE
    STAR FOODS CORP.
	 	 
	 	By:	/s/ John
    Keeler
	 	Name:	John
    Keeler
	 	Title:	Executive
    Chairman

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