Document:

Exhibit
10.10

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY “[***]”, HAS BEEN OMITTED FROM THIS EXHIBIT BECAUSE IT IS BOTH
(I) NOT MATERIAL AND (II) IS THE TYPE THE COMPANY TREATS AS PRIVATE OR CONFIDENTIAL.

 

Memo
of Understanding between Safety Quick Light

and
Nielsen & Bainbridge, LLC

 

The
following represents the key elements of the agreement between Safety Quick Lighting & Fans Corp (aka SQL, Sky Technologies) from:
4400 Northpoint Pkwy, Suite. 154 Alpharetta, GA 30022 and Nielsen & Bainbridge, LLC (aka NBGHome) from: 12303 Technology Blvd #950,
Austin, TX 78727. This agreement is to extend the involvement and association between SQL and NBGHome replacing the previous agreement
with NBGHome. NBGHome represents a strategic partner positioned to facilitate sales to an international array of retail organizations
with which they are already engaged. This relationship is to accelerate the introduction of products utilizing the patented Safety Quick
Light (SQL) devices and other.

 

General
elements of the new agreement:

 

			NBGHome
will handle direct or indirect all North American retail markets for SQL’s items whether branded GE or Sky Technologies or any
other brand.
	 	 	 
			This
                                            new agreement will be in effect for 12 months effective January 10, 2018. The two companies
                                            may mutually elect to continue or discontinue this agreement after January 10, 2019.
	 	 	 
			SQL
                                            and NBGHome will continue to work together on all business issues to drive market share gain
                                            in order to enhance a win-win scenario for both parties. NBGHome and SQL will treat each
                                            other mutually as the “most favored partner/vendor status”
	 	 	 
			As
                                            the patented SQL device has become code and is available to all manufacturers of lighting
                                            and ceiling fans, NBGHome will purchase the device for [***]% less than the best wholesale
                                            or lowest price offered to any SQL customer in the market place

 

Financial
Implications:

 

SQL
compensation to NBGHome:

 

			For
                                            NBG’s past years of support to SQL, including the USA and global sales infrastructure
                                            for SQL’s future product, as well as for the $10 million line of credit, SQL will award
                                            Nielsen & Bainbridge, LLC 300,000 shares of SQL stock for the partnership and cooperation
                                            for the period of 2016 and 2017. 150,000 shares awarded immediately and 150,000 shares that
                                            are already earned by NBG, will be awarded on July 1, 2018
	 	 	 
			For
                                            the continuation of NBG’s USA and global sales support as well as for the $10 million
                                            line of credit, SQL will award Nielsen & Bainbridge, LLC 333,333 shares of SQL stock
                                            as of January 1, 2019. In case that this agreement continues for longer than the initial
                                            one year, SQL will award an additional 333,333 shares as of January 1, 2020 and likewise
                                            333,334 shares as of January 1, 2021 based on the support given to SQL as detailed below:

 

		○	Sales
                                            efforts continue to North American retail markets for SQL’s products including the
                                            “smart plug” or its developing technological device(s) for Smart Homes. This
                                            is meant to be a good faith and an inclusive statement to products using the “smart
                                            plug” as it evolves.
	 	 	 
		○	Provides
                                            financial support up to a maximum of $10,000,000 line of credit at 9% interest on the outstanding
                                            amount. NBGHome’s line of credit to SQL will also cover purchase orders sold by NBGHome
                                            at pricing to be agreed to by SQL. All purchases financed by the line of credit will be supported
                                            and secured by the promissory note. In no event, will the line of credit exceed $10,000,000
                                            during the 12 months including any stocking programs for retail.
	 	 	 
		○	SQL
                                            will continue to pay commission at 5%.
	 	 	 
		○	SQL
                                            will continue to make payments on the credit line as it receives payment from its customers
                                            for goods purchased for the order by that customer.
	 	 	 
		○	Either
                                            party will be able to determine if the relationship will extend for an additional 12 months
                                            and will have the opportunity to end this agreement after the end of each year.

 

    	 

     

    

 

		○	If
                                            SQL were to be sold whereas the control transfers from the current management to another
                                            party, NBGHome would immediately vest in the shares to be earned in that 12 month period.
                                            For example, if SQL sold on July 1, 2018, NBG would be considered to have earned and will
                                            be awarded the 333,333 shares that were to be awarded for 12 month period in 2018.

 

NBG
financial support to SQL:

 

			When
                                            needed by SQL, NBGHome will finance purchase orders and website orders sold by NBGHome at
                                            pricing to be agreed to by SQL. Interest will be charged at 9%.
	 	 	 
			NBGHome’s
                                            Commission structure will remain at 5%. This rate can vary by sales class but will be equal
                                            to 5% average on all sales by NBGHome. The Commission is to be paid to NBGHome monthly based
                                            on sales of SQL product.
	 	 	 
			Stocking
                                            program: NBGHome will facilitate, finance and warehouse SQL products as requested by SQL
                                            not to exceed $10 million including the total of outstanding receivables. Product will include
                                            SQL/GE products: for retail, online, builder and other customers. SQL will pay a fair/reasonable
                                            fee agreed to by both parties in writing (“cost plus” basis) for stocking estimated
                                            range to be between 6 and 12%. SQL will maintain the right to consult with NBG regarding
                                            the stocking program and can terminate the NBGHome arrangement at any time with a 90 day
                                            notice.
	 	 	 
			If
                                            SQL should terminate the relationship subsequent to December 31, 2018, SQL agrees to purchase
                                            100% of the stocking inventory at cost plus 5% handling within 90 days of termination. Again,
                                            all inventory of the stocking program would have to be removed within 90 days of termination.

 

This
agreement replaces the previous memo of understanding between NBG and SQL, including NBG’s stock purchase option in the previous
memo of understanding. The pledge and security agreement and the promissory note dated April 13, 2016, will remain in effect or will
be modified to accommodate the relevant dates.

 

Both
parties will have the ability to terminate the relationship at the end of each year of this agreement. If the companies decide to end
the relationship, SQL will repay any outstanding amount under the line of credit on the termination date of the agreement. All paragraphs
in this agreement are binding on both parties.

 

Signatures
are on following page

 

    	 

     

    

 

	SAFETY
    QUICK LIGHTING & FANS CORP.	 	NIELSEN
    & BAINBRIDGE, LLC
	 	 	 	 	 
	/s/
    John Campi	 	/s/
    Scott Slater
	John
    Campi, President & CEO	 	Scott
    Slater CEO
	Date: 1-31-2018	 	Date: 1-31-2018
	 	 	 	 	 
	/s/
    Rani Kohen	 	/s/
    Gary Golden
	Rani
    Kohen, Chairman 	 	Gary
    Golden, CFO
	Date: 1-31-2018	 	Date: 1-31-2018Exhibit
10.11

 

SAFETY
QUICK FIGHTING & FANS CORP. 

LINE
OF CREDIT PROMISSORY NOTE

 

	Date
    of Issuance:	 
	December
    14, 2021 	$5,900,792.36

 

SQL
TECHNOLOGY CORP. (FORMERLY KNOW AS “SAFETY QUICK FIGHTING & FANS CORP.”), a Florida corporation (the “Company”),
whose address is 11030 Jones Bridge Road, Suite 206, Johns Creek, GA 30022, hereby promises to pay to the order of NIELSEN & BAINBRIDGE,
LLC, a Delaware limited liability company (the “Holder”), at the Holder’s address at 12303 Technology Boulevard
#950, Austin, Texas 78727, or at such other location as may be designated by the Holder from time to time in writing, the principal amount
of $5,900,792.36, together with interest thereon calculated from the date hereof (the “Date of Issuance”) in accordance
with the provisions of this Note.

 

1.
Payment of Interest.

 

(a)
Except as otherwise expressly provided herein, unpaid principal amounts shall accrue interest at a rate of the prime interest rate as
reported in the Wall Street Journal plus 1.75% per annum. The rate shall be determined by the Holder on an annual basis and shall remain
in effect for the twelve months following the determination thereof. The first determination shall be made on the date hereof and each
one -year anniversary hereafter until the Maturity Date.

 

(b)
Interest on this Note shall be computed on the basis of the actual number of days elapsed over a year of 365 days. In computing such
interest, the date this Note is issued shall be included and the date of payment shall be excluded. Each payment shall be due and payable
in arrears following the Date of Issuance up to and including the Maturity Date per the Interest Payment Schedule which is affixed to
this agreement.

 

2.
Payment of Principal on Note.

 

(a)
Scheduled Payments. To the extent not sooner paid or required to be paid hereunder, the Company agrees to pay in cash to Holder:

 

(i)
The Company agrees to pay to Holder two payments during such period in the amount of (1) on the Date of Issuance, an amount equal to
$243,000 and (2) on December 30, 2021, an amount equal to all accrued and unpaid interest up to and including the date of such payment
plus $100,000.

 

(ii)
The Company agrees to pay to Holder the following four payments in the amount of (1) on July 1, 2022, an amount equal to all accrued
interest up to and including such date, plus $200,000, (2) on December 30, 2022, an amount equal to all accrued interest up to and including
such date, plus $200,000, (3) on July 1, 2023, an amount equal to all accrued interest up to and including such date, plus $200,000 and
(4) on December 30, 2023 (the “Last Catch-Up Payment”), an amount equal to all accrued and unpaid interest up to and
including such date plus $200,000.

 

    	 

     

    

 

(b)
Monthly Payments. Commencing on January 15, 2024, and continuing on the same day of each and every calendar month thereafter during
the term of this Note through and including the Maturity Date (as such term is defined below), the Borrower shall pay monthly equal installments
of the principal amount equal to $144,175.53 plus all accrued and unpaid interest as of the date of such payment.

 

(c)
Maturity and Prepayments. The Company shall pay any principal amount then outstanding after giving effect to any prepayments to
Holder on the date that is sixty (60) months following the Date of Issuance (the “Maturity Date”), together with all
accrued and unpaid interest on the principal amount being repaid and all other amounts owing hereunder. The Company may, at any time
and from time to time, prepay all or any portion of the outstanding principal amount of this Note; provided that, in connection with
each prepayment of principal hereunder, the Company shall also pay all accrued and unpaid interest on the principal amount of this Note
being repaid. For the avoidance of doubt, any securities or stock delivered from Company to Holder shall not constitute a payment or
prepayment of any obligation under this Note.

 

3.
Security for Note. In addition to any security and/or collateral granted in favor of Holder pursuant to that certain Pledge and
Security Agreement dated as of August 18, 2016 (the “Existing Security Agreement”), which shall remain in full force
and effect and which shall secure any and all obligations owed to Holder by Company whether under this Note or otherwise and which has
authorized filings of UCC-1 financing statements on the accounts receivable, inventory and other assets of the Company in the jurisdictions
of Florida, Georgia and Texas, as security for the payment in full of the obligations evidenced by this Note and any and all other obligations
owed by the Company to Holder (or its affiliates), the Company hereby grants Holder (together with its successors and assigns), to secure
the payment and performance in full of all of the obligations of the Company under this Note or otherwise, a continuing security interest
in, and pledge to Holder, all of the Company’s right, title and interest in, the Collateral (as defined below), wherever located,
whether now owned or hereafter acquired or arising, and all proceeds and products thereof or in which the Company now has or at any time
hereafter may acquire any right, title or interest. The Company represents, warrants, and covenants that the security interest granted
herein is and shall at all times continue to be a first-priority security interest in the Collateral.

 

(a)
For purposes of this Note, (i) “Collateral” means all of the Company’s right, title and interest in and to (A) all
Goods, Accounts, Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements,
General Intangibles, Commercial Tort Claims, Documents, Instruments (including any promissory notes), Chattel Paper (whether tangible
or electronic), Fixtures, Letters of Credit Rights (whether or not the letter of credit is evidenced by a writing), Securities (including
debt securities and other debt which is owing to the Company, together all promissory notes and other instruments evidencing such debt),
Intellectual Property and all other Investment Property, Supporting Obligations, and financial assets, whether now owned or hereafter
acquired, wherever located; (B) Deposit Accounts, Securities Accounts, all cash, Money, Securities and other investments therein, and
all Security Entitlements in respect thereof; (C) all contract rights including advisory and/or management agreements, and all related
fees and income including all management and advisory fees; (D) all of the Company’s books relating to the foregoing, and any and
all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements
to and replacements, products, Proceeds and insurance proceeds of any or all of the foregoing; (E) all present and future claims, rights,
interests, assets and properties of the Company and (F) to the extent not otherwise included, all Proceeds and products of any and all
of the foregoing and all supporting obligations, collateral security and guarantees given by any Person with respect to any of the foregoing;
and (ii) all capitalized terms used in the definition of “Collateral” shall have the meaning ascribed to such terms in the
Uniform Commercial Code, as in effect, from time to time, in the State of New York (the “Code”) or, if the context may require
the Pledge and Security Agreement.

 

    	 

     

    

 

(b)
The Company hereby authorizes Holder to file financing statements, without notice to the Company, with all appropriate jurisdictions
to perfect or protect Holder’s interest or rights hereunder. The Company authorizes Holder to use the collateral description “all
assets of the debtor” or “all assets of the debtor owned now and hereafter acquired” in any such financing statements.
Upon the direction of the Holder, the Company shall deliver to Holder as representative and bailee, for the benefit of Holder, for purposes
of perfecting Holder’s security interest in the following Collateral, each of the promissory notes and other instruments evidencing
the indebtedness owed to the Company and such promissory notes or other instruments shall be accompanied by note powers (or allonges)
or other instruments of transfer executed in blank, which are satisfactory to the Holder (along with such other documents as the Holder
may request). The Company agrees, after any Event of Default, upon the request of Holder, to promptly assemble as directed by Holder
any portion or all of the Collateral and make it available to Holder at a location to be determined by Holder and following an Event
of Default, the Holder shall have available to it any and all rights available under the Code, equity or otherwise.

 

4.
Events of Default.

 

(a)
For purposes of this Note, the occurrence of any of the following shall be deemed to be an Event of Default (each such event, an “Event
of Default”):

 

(i)
the Company fails to pay when due and payable (whether at maturity or otherwise) any principal payment or any interest payment in each
case on the applicable date on which such payment is required and such failure to pay is not cured by the Company within ten (10) business
days after such failure to pay;

 

(ii)
the Company makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts generally as they become
due; or an order, judgment or decree is entered adjudicating the Company bankrupt or insolvent; or any order for relief with respect
to the Company is entered under the Federal Bankruptcy Code; or the Company petitions or applies to any tribunal for the appointment
of a custodian, trustee, receiver or liquidator of the Company, or of any substantial part of the assets of the Company, or commences
any proceeding relating to the Company under any bankruptcy reorganization, arrangement, insolvency, readjustment of debt, dissolution
or liquidation law of any jurisdiction; or any such petition or application is filed, or any such proceeding is commenced, against the
Company and either (A) the Company by any act indicates its approval thereof, consent thereto or acquiescence therein or (B) such petition,
application or proceeding is not dismissed within 60 days. For purposes of this Section 4(a)(ii), the term “Company” shall
include any subsidiary of the Company; or

 

    	 

     

    

 

(iii)
any security interests purported to be created hereunder shall cease to be, or shall be asserted in writing by the Company not to be,
a valid and perfected, security interest in a portion of the Collateral covered hereby prior to all liens.

 

The
foregoing shall constitute Events of Default whatever the reason or cause for any such Event of Default and whether it is voluntary or
involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body.

 

(b)
Consequences of Events of Default.

 

(i)
If an Event of Default has occurred, the aggregate principal amount of this Note (together with all accrued interest thereon and all
other amounts due and payable with respect thereto), shall become immediately due and payable without any action on the part of Holder,
and the Company shall immediately pay to Holder all amounts due and payable with respect to this Note.

 

(ii)
Holder shall also have any other rights which Holder may have been afforded under any contract or agreement or the Code (including any
applicable jurisdiction in which a UCC financing statement is filed) at any time and any other rights which Holder may have pursuant
to applicable law.

 

(iii)
The Company hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this
Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time and that Holder hereof may accept
security for this Note or release security for this Note, all without in any way affecting the liability of the Company hereunder.

 

(iv)
If an Event of Default has occurred, the Holder shall have the right, with respect to the obligations hereunder, to exercise any and
all rights and remedies available to a secured party under the Uniform Commercial Code in any applicable jurisdiction or other applicable
law.

 

5.
Transfer and Exchange; Replacement; Cancellation.

 

(a)
Transfer and Exchange. This Note may only be transferred upon surrender of this Note for transfer or for exchange to the Company
at its principal office, upon which the Company at its expense will (subject to the conditions set forth herein) execute and deliver
in exchange therefor a new Note or Notes, as the case may be, as requested by Holder or transferee, having an aggregate principal amount
equal to the unpaid principal amount of such surrendered Note, issued as Holder or transferee may request, dated so that there will be
no gain or loss of interest on such surrendered Note and otherwise of like tenor. The issuance of a new Note shall be made without charge
to Holder or transferee of the surrendered Note for any issuance tax in respect thereof or other cost incurred by the Company in connection
with such issuance.

 

    	 

     

    

 

(b)
Replacement. Upon receipt of evidence reasonably satisfactory to the Company (an affidavit of Holder shall be satisfactory) of
the ownership and the loss, theft, destruction or mutilation of this Note and, in the case of any such loss, theft or destruction, upon
receipt of an indemnity reasonably satisfactory to the Company (provided that if Holder is a financial institution or other institutional
investor, its own agreement shall be satisfactory), or, in the case of any such mutilation, upon the surrender of this Note to the Company
at its principal office, the Company shall (at its expense) execute and deliver, in lieu thereof, a new Note of the same class and representing
the same rights represented by such lost, stolen, destroyed or mutilated Note and dated so that there will be no loss of interest on
such Note. If any such new Note has been so executed and delivered by the Company, this Note shall not be deemed to be an outstanding
Note for any purpose.

 

(c)
Cancellation. After all principal, accrued interest, and all other amounts at any time owed or unpaid on this Note have been paid
in full, this Note shall be surrendered to the Company for cancellation.

 

6.
Payments. All payments to be made to Holder shall be made in the lawful money of the United States of America in immediately available
funds without any set off, counterclaim or deduction whatsoever. Any payment received by Holder after 12:00 noon (New York time) on any
day, will be deemed to have been received on the next following business day.

 

7.
Place of Payment. Payments of principal, interest, and other amounts shall be delivered to Holder at the address indicated in
the Company’s records or to such other address or to the attention of such other person as specified by prior written notice to
the Company.

 

8.
Business Days. If any payment is due, or any time period for giving notice or taking action expires, on a day which is not a business
day, the payment shall be due and payable on, and the time period shall automatically be extended to, the next business day immediately
following, and interest shall continue to accrue at the required rate hereunder until any such payment is made.

 

9.
Governing Law. All issues and questions concerning the construction, validity, enforcement and interpretation of this Note and
the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of New York, without
giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the
internal law of the State of New York shall control the interpretation and construction of this Note (and all schedules and exhibits
hereto), even though under their jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction
would ordinarily apply.

 

    	 

     

    

 

10.
Usury Laws. It is the intention of the Company and Holder to conform strictly to all applicable usury laws now or hereafter in
force, and any interest payable under this Note shall be subject to reduction to the amount not in excess of the maximum legal amount
allowed under the applicable usury laws as now or hereafter construed by the courts having jurisdiction over such matters. If the maturity
of this Note is accelerated by reason of an election by Holder resulting from an Event of Default, voluntary prepayment by the Company
or otherwise, then earned interest may never include more than the maximum amount permitted by law, computed from the date hereof until
payment, and any interest in excess of the maximum amount permitted by law shall be canceled automatically and, if theretofore paid,
shall at the option of Holder either be rebated to the Company or credited on the principal amount of this Note, or if this Note has
been paid, then the excess shall be rebated to the Company. The aggregate of all interest (whether designated as interest, service charges,
points or otherwise) contracted for, chargeable, or receivable under this Note shall under no circumstances exceed the maximum legal
rate upon the unpaid principal balance of this Note remaining unpaid from time to time. If such interest does exceed the maximum legal
rate, it shall be deemed a mistake and such excess shall be canceled automatically and, if theretofore paid, rebated to the Company or
credited on the principal amount of this Note, or if this Note has been repaid, then such excess shall be rebated to the Company.

 

11.
Further Assurances. Subject to the limitations set forth herein, from time to time the Company shall execute and deliver, or cause
to be executed and delivered, such additional instruments, certificates or documents, and take all such actions, as Holder may reasonably
request for the purposes of implementing or effectuating the provisions of this Note, or of renewing the rights of Holder with respect
to the Collateral as to which Holder has a perfected lien pursuant hereto, including, without limitation, filing any financing or continuation
statements or financing change statements under the Uniform Commercial Code (or other similar laws) in effect in any United States jurisdiction
with respect to the security interests created hereby.

 

12.
Payment of Expenses; Indemnification. The Company shall to pay or reimburse Holder for all its costs and expenses incurred in
connection with the enforcement or preservation of any rights under this Note, including the reasonable fees, disbursements and other
charges of counsel to Holder, and shall indemnify and hold harmless Holder and its affiliates and its and their respective directors,
officers, employees, agents, trustees and advisors from and against any and all other liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, and documented costs, out-of-pocket expenses or disbursements of any kind or nature whatsoever, including
fees, disbursements and other charges of counsel, with respect to the execution, delivery, enforcement, performance and administration
of this Note. The agreements in this Section 12 shall survive repayment of this Note.

 

13.
Notices. All notices under this Note shall be in writing and shall be delivered either by electronic mail, personally (receipt
acknowledged), or by recognized overnight courier service (delivery charges pre-paid for next business day delivery and receipt confirmed)
and addressed to:

 

if
to the Holder:

 

NIELSEN
& BAINBRIDGE, LLC

12303
Technology Boulevard #950, Austin, Texas 78727

Attention:
Andrew Khoo

E-mail:
[*]

 

if
to the Company:

 

SQL
TECHNOLOGY CORP.

11030
Jones Bridge Road, Suite 206

Johns
Creek, GA 30022

Attention:
Patty Baron

E-mail:
[*]

 

Notice
shall be deemed serviced on the date of delivery, or date of refusal, if hand delivered with proof of delivery, or the next business
day, if sent by overnight courier, as the case may be. The Holder or Company may change their address for service of notice under this
Note by providing notice in accordance with this Section 13.

 

*
* * * *

 

    	 

     

    

 

For
the avoidance of any doubt, this Note is a replacement of the $10,000,000.00 Line of Credit Promissory Note dated April 13, 2016, and
sets forth the complete agreement between the parties, except with respect to the Pledge and Security Agreement dated August 18, 2016.

 

IN
WITNESS WHEREOF, the Company has executed and delivered this Note as of the date first written above.

 

	 	SQL
    TECHNOLOGY CORP.
	 	 	 
	 	By:	/s/
    John P. Campi
	 	Name: 	John
P. Campi
	 	Title:	Chief
Executive Officer

 

AGREED
TO AND ACCEPTED AS OF

THE
DATE FIRST WRITTEN ABOVE

 

	NIELSON
    & BAINBRIDGE, LLC, A DELAWARE	 
	LIMITED
    LIABILITY COMPANY	 
	 	 	 
	By:	/s/
    Stephanie Suggs	 
	Name: 	Stephanie
Suggs	 
	Title:	CFO
12/14/21	 

 

[Signature
page to Note]

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