Document:

Exhibit
10.6
 

“Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) the type that the registrant treats as private or confidential.”

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	PacificPine
    Tennis Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(a)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(b)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(c)	any application
    and the right to apply for registration for any of the above; and

 

	 	(d)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

     

     

    

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

    Page
                                            2 of
                                            22

     

    

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.43 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

    Page
                                            3 of
                                            22

     

    

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by Gelteq Pty
    Ltd by its authorised 

    representative in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature
    of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness
    name	 	Print
    name
	 	 	 
	1/10/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised signatory
    for PacificPine Tennis Limited in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/Authorized
    Signatory
	Signature
    of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Authorized
    Signatory
	Witness
    name	 	Print
    name
	 	 	 
	1/10/2021	 	 
	Date signed	 	 

 

    Page
                                            4 of
                                            22

     

    

 

Schedule
1 – Agreement Details

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	10
    January 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 80,000 units 

    Subsequent Order: 120,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

    Page
                                            5 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

 

BETWEEN

 

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	Lifestyle
    Breakthrough Holdings Unit Trust (Licensee).

 

OPERATIVE
PROVISIONS

 

 

		1.	Definitions
                                            and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

		(a)	Product
                                            names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(a)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(b)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(c)	any application
    and the right to apply for registration for any of the above; and

 

	 	(d)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

    Page
                                            6 of
                                            22

     

    

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date;

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent if the Licensee brand is required as
part of a white-labelled gel product.

 

		3.	Term

 

		3.1	This
                                            Agreement commences on the Commencement Date and continues for the Term, unless terminated
                                            earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
                                            and price

 

Subject
to clause 5, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a Product
as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

The
Licensee agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Minimum Purchase and Minimum
Order, and in the frequency specified in Schedule 1.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Each Order
    must be for the Minimum Order, unless otherwise agreed by Gelteq in writing.

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the total order cost in full 7 days prior to production
    commences, a date in which Gelteq will notify the Licensee. Any additional taxes, duties and delivery costs payable in accordance
    with clause 5(b) below

 

		4.5	Delivery
    estimate

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            7 of
                                            22

     

    

 

		5.	Payment

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		6.	Conditions
    of resale and distribution

 

		6.1	Resale
    of Products

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		6.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.50 per unit.

 

		7.	Confidentiality

 

		7.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

		7.2	Permitted
    disclosure

 

	 	(a)	The Licensee
    may disclose Confidential Information to those of its employees and advisors as may be reasonably necessary or desirable, provided
    that before any such disclosure each party shall make those employees and advisors aware of its obligations of confidentiality under
    this Agreement and shall at all times procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		7.3	Survival

 

This
clause survives the expiry or termination of this Agreement.

 

		8.	Termination

 

		8.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date

 

		Termination
                                            of licences

 

If
this Agreement expires or is terminated in accordance with this clause, all licences granted to the Licensee under this Agreement will
cease.

 

    Page
                                            8 of
                                            22

     

    

 

Executed
as an agreement

 

	Signed by Gelteq Pty
    Ltd by its authorised 

    representative in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness name  	 	Print
    name
	 	 	 
	9/31/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by Nathan Givoni as authorised
    

    signatory for Lifestyle Breakthrough Holdings Unit Trust 

    in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness
    name	 	Print
    name
	 	 	 
	9/31/2021	 	 
	Date signed	 	 

 

Schedule
1 – Agreement Details

 

 

	No.	Item	Details
	7.	Agreement
    Date (date of signing)	31/9/2021
	8.	Delivery
    Date	Q1
	9.	Licence
    Fees	Waived
    for this Pilot Program
	10.	Trade
    Marks 	GELTEQ
    HYPOGEL
	11.	Minimum
    Order	Initial
    Order: 20,000 units Subsequent Order: 30,000 units
	12.	Price	The
    price for the initial order will be [*****] per unit

 

    Page
                                            9 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	PacificPine
    Football Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(e)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(f)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(g)	any application
    and the right to apply for registration for any of the above; and

 

	 	(h)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

    Page
                                            10 of
                                            22

     

    

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            11 of
                                            22

     

    

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.34 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

    Page
                                            12 of
                                            22

     

    

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by Gelteq Pty
    Ltd by its authorised

    representative in the presence of:  	 	 
	 	 	 
	[*****]	 	/S/
    Simon Szewach
	Signature
    of witness	 	Signature of authorised signatory  
	 	 	 
	[*****]	 	Simon
    Szewach
	Witness name  	 	Print
    name
	 	 	 
	15/11/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised
    signatory for PacificPine Football Limited in the presence of:	 	 
	 	 	 
	[*****]	 	Authorized
    Signatory
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	/S/
    Authorized Signatory
	Witness name	 	Print
    name
	 	 	 
	11/15/21	 	 
	Date signed	 	 

 

Schedule
1 – Agreement Details

 

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	15
    November 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 50,000 units 

    Subsequent Order: 75,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

    Page
                                            13 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	Five-Star
    Sports Hong Kong Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(e)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(f)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(g)	any application
    and the right to apply for registration for any of the above; and

 

	 	(h)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

    Page
                                            14 of
                                            22

     

    

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            15 of
                                            22

     

    

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.38 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

    Page
                                            16 of
                                            22

     

    

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by [*****]

    representative in the presence of:	 	 
	 	 	 
	[*****]	 	/S/
    Simon Szewach
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	Simon
    Szewach
	Witness name	 	Print
    name
	 	 	 
	11/29/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised
    

    signatory for Five-Star Sports Hong Kong Limited 

    in the presence of:  	 	 
	 	 	 
	[*****]	 	Authorized Signatory
	Signature of witness	 	Signature
    of authorised signatory
	 	 	 
	[*****]	 	/S/
    Authorized Signatory
	Witness name	 	Print
    name
	 	 	 
	11/29/2021	 	 
	Date signed	 	 

 

    Page
                                            17 of
                                            22

     

    

 

Schedule
1 – Agreement Details

 

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	29
    November 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 80,000 units 

    Subsequent Order: 120,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

    Page
                                            18 of
                                            22

     

    

 

Gelteq
Authorised Licensee Agreement – Pilot Program

 

BETWEEN

 

		1.	Gelteq
    Pty Ltd ACN 619 501 254 (Gelteq); and

 

		2.	PacificPine
    Golf Limited (Licensee).

 

OPERATIVE
PROVISIONS

 

		1.	Definitions
    and interpretation

 

		1.1	Definitions

 

In
this Agreement, unless the context requires otherwise:

 

Agreement
means this agreement and its schedules and annexures and any subsequent variation;

 

Business
Day means any day that is not a Saturday, Sunday, or a public holiday or bank holiday in Victoria, Australia;

 

Confidential
Information means the information of or relating to Gelteq or its Affiliates or its business or affairs (whether or not in a material
form and whether or not disclosed or learned prior to the date of this Agreement) which by its nature is confidential, is designated
as confidential and/or which the Licensee knows or reasonably ought to know is confidential;

 

Intellectual
Property means all Intellectual Property Rights (whether registered or unregistered) owned by or licensed to Gelteq in connection
with the Products whether recorded or unrecorded, stored or incorporated in any medium of any nature or description, including, but not
limited to:

 

	 	(a)	Product
    names, designs, formulations, plans, trade marks, logos, branding and catchphrases;

 

	 	(b)	marketing
    and promotional materials;

 

	 	(c)	any Gelteq
    website; and

 

	 	(d)	the Materials,
    including all Licensee lists and Licensee details, including Licensee lists obtained, compiled or developed by the Licensee;

 

Intellectual
Property Rights means any intellectual property rights subsisting anywhere in the world, including:

 

	 	(e)	rights
    in relation to:

 

	 	(i)	registered
    and unregistered copyright;

 

	 	(ii)	inventions
    (including patents, discoveries, innovation patents and utility models);

 

	 	(iii)	Confidential
    Information, technical information, trade secrets, formulas, manufacturing process and related know-how;

 

	 	(iv)	registered
    and unregistered designs;

 

	 	(v)	registered
    and unregistered trade marks (including the Trade Marks); and

 

	 	(vi)	rights
    in databases;

 

	 	(f)	any similar
    rights resulting from intellectual activity in the industrial, commercial, scientific, literary or artistic fields which subsist
    or may at any time subsist;

 

	 	(g)	any application
    and the right to apply for registration for any of the above; and

 

	 	(h)	any right
    of action against any party in connection with any of the above;

 

Materials
mean any intellectual property developed or created by the Licensee , including Licensee lists and Licensee detail lists and marketing
materials.

 

Minimum
Order means the quantity or value of the Products ordered as specified as such in the Schedule;

 

Product(s)
means any goods or products, including parts or components therefore, that are supplied pursuant to this Agreement.

 

Term
means the period of one (1) year from the Commencement Date; and

 

    Page
                                            19 of
                                            22

     

    

 

Trade
Marks means the names and trademarks specified in Item 4 of Schedule 1 as modified, updated or replaced by Gelteq from time to time
and such further or other names, trademarks and logos as Gelteq notifies to the Licensee from time to time in relation to the Products.

 

		2.	Appointment
    of Licensee

 

		2.1	Appointment

 

Gelteq
grants the Licensee, and the Licensee accepts, the right to store, promote, market, sell and distribute the Products subject to the terms
of this Agreement.

 

		2.2	Exclusive

 

The
arrangements between Gelteq and the Licensee under this Agreement are exclusive in that Gelteq will not provide any of the Products containing
the Licensee’s brand to any third party without the Licensee’s prior written consent.

 

		3.	Term

 

		3.1	This Agreement
    commences on the Commencement Date and continues for the Term, unless terminated earlier in accordance with this Agreement.

 

		4.	Orders
    for Products

 

		4.1	Product
    and price 

 

Subject
to clause 6.2, all Products supplied to the Licensee under this Agreement will be supplied and invoiced by Gelteq at the price for a
Product as recorded on the latest price list at the time of placing an order by submitting a Purchase Order in the form required by Gelteq.

 

		4.2	Taxes
    and Delivery Fees

 

The
Licensee agrees to pay any applicable taxes, insurance costs, administration or management fees, bank charges and delivery charges for
Products as invoiced by Gelteq from time to time.

 

		4.3	Minimum
    Purchase

 

	 	(a)	The Licensee
    agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule
    1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee.

 

	 	(b)	The Licensee
    agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being
    signed.

 

	 	(c)	The parties
    agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for,
    and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent
    Order, it cannot be cancelled.

 

		4.4	Orders

 

	 	(a)	The Licensee
    may from time to time submit to Gelteq written orders for the Products (Order).

 

	 	(b)	Immediately
    upon submitting an Order, the Licensee must pay to Gelteq or any party nominated in writing by Gelteq 25% of the Purchase Price (Deposit).

 

	 	(c)	The Licensee
    agrees that it will pay Gelteq, or any party nominated in writing by Gelteq, the remaining 75% balance of the Order plus any additional
    taxes, duties and delivery costs is payable in accordance with clause 5.1(b) below before any Product is made available for collection
    or is shipped to the Licensees.

 

		4.5	Delivery
    estimate 

 

Any
delivery dates or estimates of time or arrival set out in an accepted Order are indicative only, and Gelteq will not be liable for any
Loss or Liability occurring to the Licensee by reason of any shortage of stock or the failure or delay in dispatch, delivery or supply
of Products.

 

    Page
                                            20 of
                                            22

     

    

 

		5.	White
    Labelling of Product

 

		5.1	Licence

 

	 	(a)	The Licensee
    grants Gelteq a royalty free non-exclusive, worldwide licence and right to sublicence its Intellectual Property for the sole purpose
    of developing Products containing the Licensee’s brand. The Licensee warrants and represents to Gelteq that it has the right
    to grant this licence and that in using the licence Gelteq will not be in breach of any third party intellectual property rights
    or liable to any third party.

 

	 	(b)	The Licensee
    agrees that once it has approved the packaging proof that it may not make further changes to the packaging.

 

	 	(c)	The parties
    will negotiate and agree a fixed fee to apply, payable to Gelteq, in relation to each product for the development and set up of the
    packaging and printing.

 

		6.	Payment

 

		6.1	Payment
    

 

	 	(a)	Gelteq
    will issue to the Licensee an invoice for the total Order amount including the balance of the Purchase Price remaining, after an
    Order has been accepted by Gelteq (Invoice).

 

	 	(b)	The Licensee
    must pay all Invoiced amounts into Gelteq's account or an account nominated by Gelteq in writing, in cleared funds, within 14 Business
    Days of receiving an Invoice.

 

		7.	Conditions
    of resale and distribution

 

		7.1	Resale
    of Products 

 

	 	(a)	The Licensee
    is authorised by Gelteq to market, distribute and sell the Products.

 

	 	(b)	The Licensee
    must obtain the prior written consent of Gelteq to sell or distribute the Products to a Retailer, however the Licensee may sell to
    any other party without obtaining prior written consent of Gelteq.

 

	 	(c)	The Products
    must be sold or distributed using the Trade Marks and the Licensee must not, without the prior written consent of Gelteq, sell or
    distribute the Products under any other branding.

 

	 	(d)	The Licensee
    must not, without the prior written consent of Gelteq, develop, operate, create, manage, maintain or run a website under the Gelteq
    brand, using the Trade Marks or selling the Products without the prior written consent of Gelteq.

 

		7.2	Pricing
    of Products

 

Gelteq
may provide recommended retail prices for the Products from time to time, however the pricing strategy (including price list, allowances,
discounts, rebates and trade terms) for the sale of the Products within the Territory shall be decided by the Licensee in its absolute
discretion, noting that the first order will be charged at $0.35 per unit.

 

		8.	Confidentiality

 

		8.1	Non-disclosure
    of Confidential Information

 

The
Licensee agrees and undertakes that during the Term and thereafter that:

 

	 	(a)	it will
    keep confidential and will not use for its own purposes, nor without the prior written consent of Gelteq disclose to any third party,
    the Confidential Information, unless the information:

 

	 	(i)	is public
    knowledge or is already known to that party at the time of disclosure;

 

	 	(ii)	subsequently
    becomes public knowledge other than by breach of this Agreement; or

 

	 	(iii)	comes
    lawfully into the possession of that party from a third party.

 

	 	(b)	Nothing
    in this Agreement prevents any Confidential Information being disclosed to the extent required by law or any competent regulatory
    body, however a party required to disclose any Confidential Information shall promptly notify the other party, where practicable
    and lawful to do so, before disclosure occurs and cooperate with the other Party regarding the timing and content of such disclosure
    or any action which the other party may reasonably elect to take to challenge the validity of such requirement.

 

    Page
                                            21 of
                                            22

     

    

 

		8.2	Permitted
    disclosure 

 

	 	(a)	Notwithstanding
    clause 8.1 to the extent necessary to implement the provisions of this Agreement, the Licensee may disclose Confidential Information
    to those of its employees and advisors as may be reasonably necessary or desirable, provided that before any such disclosure each
    party shall make those employees and advisors aware of its obligations of confidentiality under this Agreement and shall at all times
    procure compliance by those employees and advisors with them.

 

	 	(b)	The Licensee
    agrees that Gelteq may disclose the existence of this agreement and its terms for the purpose of its business.

 

		8.3	Survival
    

 

This
clause 8 survives the expiry or termination of this Agreement.

 

		9.	Termination

 

		9.1	Termination
    for convenience

 

Without
affecting any other right or remedy available to it, Gelteq may terminate this Agreement or an Order by giving not less than 20 Business
Days written notice to the Licensee. The Licensee cannot terminate any order within one month prior to the Delivery Date or after the
final packaging proof has been approved.

 

		9.2	Termination
    of licences 

 

If
this Agreement expires or is terminated in accordance with this clause 9, all licences granted to the Licensee under this Agreement will
cease.

 

Executed
as an agreement

 

	Signed by [*****]

    representative in the presence of:	 	 
	 	 	 
	[*****]	 	/S/
    Nathan Givoni
	Signature
    of witness	 	Signature of authorised signatory  
	 	 	 
	[*****]	 	Nathan
    Givoni
	Witness name	 	Print
    name
	 	 	 
	12/13/2021	 	 
	Date signed	 	 
	 	 	 
	Signed by [*****] as authorised
    

    signatory for PacificPine Golf Limited in the presence of:	 	 
	 	 	 
	[*****]	 	/S/
    Authorized Signatory
	Signature
    of witness	 	Signature of authorised signatory  
	 	 	 
	[*****]	 	Authorized
    Signatory
	Witness name  	 	Print
    name
	 	 	 
	12/13/21	 	 
	Date signed	 	 

 

Schedule
1 – Agreement Details

 

	No.	Item	Details
	1.	Agreement
    Date (date of signing)	13
    December 2021
	2.	Delivery
    Date	31
    March 2022
	3.	Licence
    Fees	Waived
    for this Pilot Program
	4.	Trade
    Marks 	GELTEQ
    

    SPORTSGEL
	5.	Minimum
    Order	Initial
    Order: 40,000 units 

    Subsequent Order: 60,000 units
	6.	Price	The
    price for the Initial and Subsequent Order will be [*****] per unit

 

 

Page 22 of
22Exhibit
10.7

 

“Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) the type that the registrant treats as private or confidential.”

 

Key
Terms – Private Label Agreement

 

BETWEEN

 

		1.	Gelteq
Pty Ltd (ACN 619 501 254) of c/o Level 7, 616-616 St Kilda Road, Melbourne, VIC 3004, Australia (Gelteq); and

 

		2.	The
Purchaser as set out in Schedule below (Purchaser).

 

	No.	Item	Details
	1.	Commencement
    Date	07/01/2021
	

    2.
	

    Gelteq
    Details
	Entity	Gelteq
    Pty Ltd
	Company
    Number	ACN
    619 501 254
	Contact
    Person	Simon
    Szewach
	Address
	c/o
                                            Level 7, 616-616 St Kilda

    Road,
    Melbourne, VIC 3004, Australia

	Email
    Address	[*****]
	Phone
    Number	[*****]
	3.
	Purchaser
	Entity	Healthy
    Extracts Inc
	US
    Company Number	0001630176
	Contact
    Person	[*****]
	Address	6445
    S Tenaya Way Suite B110, Las Vegas, NV 89113
	Email
    Address	[*****]
	Phone
    Number	[*****]
	4.	Territory	USA
    and Canada
	5.	Products	Gels
    containing Bergamot and UBN
	6.	Minimum
    Purchase	500,000
	7.	Purchase
    Price	TBN
	8.	Purchaser
    Branding	All
    registered and unregistered trademarks owned by the Purchaser.

 

		1.	Agreement
and Term

 

		1.1	This
Agreement is made between the parties listed in the table and starts on the Commencement Date and will continue for a period of 3 years
unless terminated in accordance with this Agreement (the “Term”).

 

		1.2	This
Agreement applies to all purchases made by the Purchaser from Gelteq during the Term.

 

		2.	Exclusivity

 

		2.1	During
the Term, the Purchaser appoints Gelteq as the exclusive manufacturer of all gel products that contain bergamot and UBN in respect of
the Territory.

 

		2.2	Gelteq
agrees that during the Term of this Agreement it will not manufacture gels containing Bergamot or UBN as the main or majority ingredient
for any other company in the Territory.

 

		3.	Manufacturer
                                            Appointment

 

		3.1	The
Purchaser agrees to Purchase the Products in the minimum quantity of 500,000 units of Product during the 3-year Term, a minimum of 250,000
of those must be purchased within the first 12 months of the Term. If manufacturing is delayed for any reason, this initial 12 month
period may be extended upon the written agreement of both parties.

 

		3.2	In
order for this Agreement to proceed, within the first 4 months from the Commencement Date, the parties will agree on the gel formulation,
composition of the flavours, packaging and types of products that will make up the 500,000 minimum order units.

 

     

     

    

		4.	Branding

 

		4.1	The
parties agree that the Products will be manufactured by Gelteq and will be branded with the Purchaser’s branding. The parties will
mutually agree upon the branding to be applied to the Product, including, but not limited to, packaging and marketing materials bearing
the Purchaser’s Brand.

 

		4.2	The
Purchaser grants Gelteq a royalty free, sub-licensable, non-exclusive licence to use the Purchaser’s Branding for the purpose of
developing and branding the Product and any marketing and ancillary materials related to the Product and for the sole purpose of the
Purchaser’s own marketing and promotional material. The Purchaser warrants and represents to Gelteq that it has the right to grant
the licence provided in this Agreement.

 

		4.3	The
Purchaser agrees that in accepting the licence in clause 4.2 above and in using and applying the Purchaser Branding to the Product that
Gelteq will not be in breach of any third-party intellectual property.

 

		5.	Licence
                                            Fee, Price and Royalty

 

		5.1	The
Purchaser agrees that it will pay a licence fee of $[*****] to Gelteq in consideration of being able to use the Gelteq brand on its packaging
and utilising a private label gel formulation for the agreed term. (Licence Fee). Gelteq agrees that the Licence Fee may be paid
in shares in the Purchaser.

 

		5.2	Both
parties will agree on the final Purchase Price per unit.

 

		5.3	In
addition to the Licence Fee and the Purchase Price, the Purchaser agrees to pay Gelteq a royalty of [*****]% ([*****] percent) of the
total price bought by the Purchaser. Such amounts must be paid to Gelteq quarterly and must be accompanied with a statement of sales
made.

 

		6.	Local
                                            law obligations

 

		6.1	The
Purchaser acknowledges and agrees that it is the responsibility of the Purchaser to ensure that the packaging, labelling and selling
of the Product in the Territory complies with any laws of the Territory.

 

		6.2	The
Purchaser agrees that it will take out and maintain at its cost, all necessary insurances required to cover the risk of liability in
relation to the Products, including product and public liability insurance.

 

		6.3	The
Purchaser acknowledges and agrees that other than the Purchaser Branding, Gelteq owns all Intellectual Property Rights in the Products
and it will not challenge or infringe such intellectual property rights.

 

		6.4	The
Purchaser warrants and represents to Gelteq that it will comply with any applicable licenses, laws, regulations, industry standards or
codes of conduct, health and safety requirements in carrying out its obligations under this Agreement.

 

		7.	Intellectual
                                            Property

 

		7.1	The
Purchaser must at all times do all things reasonably necessary to protect and prevent the Gelteq intellectual property from unauthorised
use in the Territory.

 

    2

     

    

 

		8.	Termination

 

		8.1	Termination
for convenience

 

		(a)	Prior
to the Purchaser providing approval of the formulations, the price per unit and packaging pursuant to clause 3.2, either party may terminate
this Agreement for any reason, at any time, by giving 30 Business Days written notice to the other.

 

		8.2	Termination
                                            for breach

 

Without
affecting any other right or remedy available to it, either party may terminate this Agreement with immediate effect by giving written
notice to the other, if:

 

		(a)	the
                                            other party fails to pay any amount due under this Agreement on the due date for payment;

 

		(b)	the
                                            other party fails to perform its obligations under any provision of this Agreement, whether
                                            material or not, within a period of 10 Business Days’ after written notice from the
                                            other party to do so;

 

		(c)	the
                                            other party commits a breach of any term of this Agreement and either:

 

		(i)	the
                                            breach is irremediable; or

 

		(ii)	the
                                            breach is remediable and the defaulting party fails to remedy that breach within a period
                                            of 10 Business Days' after the defaulting party has, or is deemed to have, received written
                                            notice requesting it to do so; or

 

		(d)	either
                                            party is no longer able to pay its debts as and when they fall due or an application is made
                                            to a court for its bankruptcy, winding up or for a controller, liquidator or administrator
                                            to control the company, or such similar event.

 

		(e)	If
                                            Gelteq commits a breach that cannot be remedied in the time frame as specified under this
                                            Agreement and the Purchaser terminates the Agreement as a result of such breach, then Gelteq
                                            agrees to return the Licence Fee in proportion to the length of time that has expired of
                                            this Agreement (for example if the Agreement is terminated after 12 months, then two thirds
                                            of the Licence Fee will be returned).

 

		9.	Confidentiality

 

		9.1	The
Purchaser agrees to keep the terms of this agreement confidential.

 

		9.2	Any
public announcement in relation to this Agreement must be mutually agreed to prior to such announcement.

 

		9.3	Nothing
in this Agreement prevents any confidential information being disclosed to the extent required by law or any competent regulatory body,
however a party required to disclose any confidential information shall promptly notify the other party, where practicable and lawful
to do so before disclosure occurs.

 

    3

     

    

 

		10.	Limitation
of liability

 

		10.1	The
Purchaser acknowledges and agrees that it is solely liable for any action, loss, expense, cost, claim, damage, or liability (Liability)
in relation to the Products once Delivered to the Purchaser, including any third-party claims. Gelteq excludes any Liability to the Purchaser,
whether in contract, tort (including negligence) or otherwise, for any special, indirect or consequential loss arising under or in connection
with this Agreement or the Products.

 

If
Gelteq is liable under this Agreement for any matter which by law is not able to be released or excluded, then to the extent permitted
by law, the maximum aggregate liability of Gelteq under this Agreement for any reason whatsoever, whether arising in tort or contract
or any other cause of action, is hereby limited to $[*****].

 

		10.2	Subject
to the other terms of this clause and to the to the maximum extent permitted by law, Gelteq excludes all rights, representations, guarantees,
conditions, warranties, undertakings, remedies or other terms in relation to the Products that are not expressly set out in this Agreement.

 

		10.3	Nothing
in this Agreement limits, excludes or purports to limit or exclude any applicable obligations of Gelteq that cannot be limited or excluded
by law (including Australian Consumer Law).

 

		10.4	The
parties agree to carry general and product liability insurance appropriate to the product being sold in respect of product, ingredient
or manufacturing defects in an amount not less than [*****] DOLLARS ($[*****]USD) each occurrence and [*****] DOLLARS ($[*****]USD) in
the aggregate.

 

		11.	Indemnity

 

		11.1	The
Purchaser hereby indemnifies and holds Gelteq, its shareholders, directors, employees, agents and sub-contractors harmless against all
and any liabilities that they may suffer, which are caused (irrespective of whether directly or indirectly, wholly or partially) as a
result of or in connection with:

 

		(a)	any
                                            claim, action or dispute with respect of the Products or intellectual property rights in
                                            the Purchaser Branding;

 

		(b)	the
                                            distribution or resale of the Products by the Purchaser, including but not limited to any
                                            act or omission by the Purchaser in connection with the distribution of the Products;

 

		(c)	any
                                            act, omission, fraud or negligence of the Purchaser or its directors or employees;

 

		(d)	any
                                            breach by the Purchaser of any applicable laws or warranties given by the Purchaser under
                                            this Agreement.

 

    4

     

    

 

		11.2	Gelteq
hereby indemnifies and holds the Purchaser, its shareholders, directors harmless against all and any liabilities that they may suffer,
which are caused (irrespective of whether directly or indirectly, wholly or partially) as a result of or in connection with:

 

		(a)	a
                                            defect in the manufacturing of the Products;

 

		(b)	any
                                            breach by the Purchaser of any applicable laws or warranties given by the Purchaser under
                                            this Agreement; or

 

		(c)	any
                                            gross negligence of Gelteq or its directors or employees.

 

		12.	General

 

		12.1	Counterparts:
This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall constitute an original
of this Agreement.

 

		12.2	Entire
agreement: This Agreement is the entire agreement between the parties and supersedes all and any communications, negotiations, arrangements
and agreements, whether oral or written, between the parties in respect of the matters that are the subject of this Agreement.

 

		12.3	Force
                                            Majeure: Neither party shall be liable for any delay or failure to perform its obligations
                                            pursuant to this Agreement if such delay is due to an act beyond its reasonable control (and
                                            such obligations will be suspended) except for an obligation to make payment of amounts then
                                            due and payable. The party affected by the event must take reasonable steps to remove the
                                            Force Majeure as soon as reasonably possible, or to mitigate and minimise its duration or
                                            effect.

 

		12.4	Waiver:
                                            A failure by either party to take action to enforce its rights does not constitute a waiver
                                            of any right or remedy under this Agreement unless it is in writing signed by the party granting
                                            the waiver.

 

		12.5	Jurisdiction:
                                            The parties irrevocably submit to the exclusive jurisdiction of the courts of the state of
                                            Victoria, Australia.

 

		12.6	Governing
                                            law: This Agreement will be governed by and construed and interpreted in accordance with
                                            the laws of Victoria, Australia.

 

		12.7	Legal.
                                            Gelteq and Purchaser agree to mediation in the state of Victoria, Australia and abide by
                                            decisions determined by the mediator.

 

    5

     

    

 

Executed as an Agreement

 

	Executed in accordance with section 127 of the Corporations Act 2001 (Cth) by Gelteq Pty Ltd:	 	 
	 	 	 
	/S/ Nathan
Givoni	 	/S/ Nathan Givoni
	
    Director Signature

    

    
	 	
    Director/Company Secretary Signature

    

    

	 	 	 
	Nathan Givoni	 	Nathan Givoni
	
    Print Name

     

    

    7--11-2021
	 	Print Name
	Date Signed	 	 

 

	
    Executed by Healthy Extracts Inc.

    
	 	 
	 	 	 
	/S/ Authorized Signatory	 	/S/ Authorized Signatory
	
    Director Signature

    
	 	
    Director/Company Secretary Signature

    

    

	 	 	 
	Authorized Signatory	 	Authorized Signatory
	
    Print Name

     

    

    7-9-2021
	 	Print Name
	Date Signed	 	 

 

 

6

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