Document:

Exhibit
10.1

 

Amendment
to Demand Promissory Note 

 

Dated
as of August 29, 2022

 

This
Amendment to Demand Promissory Note (this “Amendment”), dated as of the date first set forth above (the “Amendment
Date”), is entered into by and between Metavesco, Inc., a Nevada corporation which was previously named Waterside Capital Corporation
and organized under the laws of the State of Virginia (the “Company”) and Ryan Schadel (the “Holder”). The Company
and Holder may be referred to herein individually as a “Party” and collectively as the “Parties.”

 

WHEREAS,
the Holder is the holder of that certain Demand Promissory Note of the Company, dated as of dated as of October 18, 2021 in the original
principal amount of $100,000 (the “Original Note”) and the Parties now wish to amend the Original Note as set forth herein.
and pursuant to Section 3(i) of the Original Note, the Original Note may be amended in writing;

 

NOW
THEREFORE, in consideration of the foregoing and of the agreements and covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

		1.	Defined
                                            terms used herein without definition shall have the meaning given to them in the Original
                                            Note.

 

		2.	Subject
                                            to the provisions herein, the Original Note is hereby amended as follows:

 

		(a)	The
                                            Maturity Date of the Original Note is hereby amended to be October 18, 2023.

 

		(b)	The
                                            interest rate applicable to the Note as of and following the Amendment Date is hereby amended
                                            to be five percent (5%) per annum, simple interest, with such rate being effective as, and
                                            applying to the Note from, the Amendment Date. For the avoidance of doubt, the Parties acknowledge
                                            and agree that the original interest rate of 0.01% per annum shall apply to the Original
                                            Note from the Issue Date to the day immediately preceding the Amendment Date.

 

		(c)	As
                                            the Company has been converted from a Virginia corporation to a Nevada corporation since
                                            the issuance date of the Original Note, the governing law which shall apply to the Original
                                            Note is hereby amended to be the laws of the State of Nevada, without application of the
                                            conflicts of laws provisions thereof. Therefore the first sentence of Section 3(d) of the
                                            Note is hereby amended and restated in its entirety to provide as follows:

 

All
questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by and construed and enforced
in accordance with the internal laws of the State of Nevada without regard to the principles of conflict of laws thereof.

 

    	 

    	 

    

 

		3.	In
                                            consideration of the agreement of the Holder to extend the Maturity Date of the Original
                                            Note, on the Amendment Date, the Company shall issue to the Holder 15,000 shares of common
                                            stock, par value $0.0001 per share, of the Company (the “Common Stock”), which
                                            shares of Common Stock (the “Shares”) shall be duly authorized, validly issued,
                                            fully paid and non-assessable.

 

		4.	In
                                            connection with the issuance of the Shares, the Holder represents and warrants to the Company
                                            as follows:

 

		(a)	Holder
                                            understands and agrees that the consummation of this Amendment including the delivery of
                                            the Shares as contemplated hereby constitute the offer and sale of securities under the Securities
                                            Act of 1933, as amended, and the rules and regulation promulgated thereunder (the “Securities
                                            Act”) and applicable state statutes and that the Shares are being acquired for Holder’s
                                            own account and not with a present view towards the public sale or distribution thereof,
                                            except pursuant to sales registered or exempted from registration under the Securities Act.
                                            Holder does not have any contract, undertaking, agreement or arrangement with any person
                                            to sell, transfer or grant participations to such person or to any third person, with respect
                                            to the Shares.

 

		(b)	Holder
                                            is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
                                            D under the Securities Act.

 

		(c)	Holder
                                            understands that the Share are being offered and sold to Holder in reliance upon specific
                                            exemptions from the registration requirements of United States federal and state securities
                                            Laws and that the Company is relying upon the truth and accuracy of, and Holder’s compliance
                                            with, the representations, warranties, agreements, acknowledgments and understandings of
                                            Holder set forth herein in order to determine the availability of such exemptions and the
                                            eligibility of Holder to acquire the Shares.

 

		(d)	At
                                            no time was Holder presented with or solicited by any leaflet, newspaper or magazine article,
                                            radio or television advertisement, or any other form of general advertising or solicited
                                            or invited to attend a promotional meeting otherwise than in connection and concurrently
                                            with such communicated offer. Holder is not purchasing the Shares acquired by Holder hereunder
                                            as a result of any “general solicitation” or “general advertising,”
                                            as such terms are defined in Regulation D under the Securities Act, which includes, but is
                                            not limited to, any advertisement, article, notice or other communication regarding the Shares
                                            acquired by Holder hereunder published in any newspaper, magazine or similar media or on
                                            the internet or broadcast over television, radio or the internet or presented at any seminar
                                            or any other general solicitation or general advertisement.

 

		(e)	Holder,
                                            either alone or together with Holder’s representatives, has such knowledge, sophistication
                                            and experience in business and financial matters so as to be capable of evaluating the merits
                                            and risks of the prospective investment in the Shares, and has so evaluated the merits and
                                            risks of such investment.

 

    	 

    	 

    

 

		(f)	Holder
                                            understands that no United States federal or state agency or any other governmental or state
                                            agency has passed on or made recommendations or endorsement of the Shares or the suitability
                                            of the investment in the Shares nor have such authorities passed upon or endorsed the merits
                                            of the transactions set forth herein.

 

		(g)	Any
                                            legend required by the securities laws of any state to the extent such laws are applicable
                                            to the Shares shall be included on any certificates representing the Shares, which legend
                                            shall be in the following form or a substantially similar legend:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED
UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED
UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE
IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE NOT SET FORTH HEREIN.

 

		5.	Other
                                            than as amended herein, the Note shall remain in full force and effect. Following the Amendment
                                            date, any reference to the “Note” shall be deemed a reference to the Original
                                            Note as amended by this Amendment.

 

		6.	This
                                            Amendment shall be governed by and construed in accordance with the laws of the State of
                                            Nevada without regard to principles of conflicts of laws. All questions concerning jurisdiction,
                                            venue and the construction, validity, enforcement and interpretation of this Amendment shall
                                            be determined in accordance with the provisions of the Note.

 

		7.	This
                                            Amendment may be executed in multiple counterparts, each of which shall be deemed an original
                                            and all of which taken together shall be but a single instrument. Counterparts may be delivered
                                            via facsimile, electronic mail (including pdf or any electronic signature complying with
                                            the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method
                                            and any counterpart so delivered shall be deemed to have been duly and validly delivered
                                            and be valid and effective for all purposes.

 

[Signature
Page Follows]

 

    	 

    	 

    

 

N
WITNESS WHEREOF, the undersigned have executed this Amendment as of the Amendment Date.

 

	 	Metavesco, Inc.
	 	 
	 	By:	/s/
    Ryan Schadel
	 	Name:	Ryan
    Schadel
	 	Title:	Chief
    Executive Officer

 

	 	Ryan Schadel 
	 	 
	 	By:	/s/
    Ryan Schadel
	 	Name:	Ryan
    SchadelExhibit
10.1

 

Consulting
Agreement

 

This
Consulting Agreement (the “Agreement” or “Consulting Agreement”) states the terms and conditions that govern
the contractual agreement between Guardforce AI Co., Limited having its registered office at Cricket Square, Hutchins Drive, P.O. Box,
Grand Cayman, KY1-1111, Cayman Islands (the “Client”), and _______ (the “Consultant”) who agrees to be bound
by this Agreement.

 

WHEREAS,
the Consultant offers consulting services in day-to-day management of the operational functions and financial performances of the
robotic business; and

 

WHEREAS,
the Client desires to retain the services of the Consultant to render consulting services with regard to day-to-day management of
the operational functions and financial performances of the robotic business consulting services according to the terms and conditions
herein.

 

NOW,
THEREFORE, In consideration of the mutual covenants and promises made by the parties hereto, the Consultant and the Client (individually,
each a “Party” and collectively, the “Parties”) covenant and agree as follows:

 

1.
Term

 

As
the position President, this Agreement shall begin on Aug 31, 2022 and continue for three years. Either Party may terminate this Agreement
for any reason with 60 days written notice to the other Party.

 

2.
Consulting Services

 

The
Consultant agrees that it shall provide its expertise to the Client for all things pertaining to day-to-day management of the operational
functions and financial performances of the robotic business (the “Consulting Services”).

 

3.
Compensation

 

In
consideration for the Consulting Services, the Client shall pay the Consultant at the rate of USD per year.

 

4.
Intellectual Property Rights in Work Product

 

The
Parties acknowledge and agree that the Client will hold all intellectual property rights in any work product resulting from the Consulting
Services including, but not limited to, copyright and trademark rights. The Consultant agrees not to claim any such ownership in such
work product’s intellectual property at any time prior to or after the completion and delivery of such work product to the Client.

 

    

     

    

 

5.
Confidentiality

 

The
Consultant shall not disclose to any third party any details regarding the Client’s business, including, without limitation any
information regarding any of the Client’s customer information, business plans, or price points (the “Confidential Information”),
(i) make copies of any Confidential Information or any content based on the concepts contained within the Confidential Information for
personal use or for distribution unless requested to do so by the Client, or (ii) use Confidential Information other than solely for
the benefit of the Client.

 

6.
Noncompetition

 

During
the term of this Agreement and for 2 years thereafter, the Consultant shall not engage, directly or indirectly, as an employee, officer,
manager, partner, manager, consultant, agent, owner or in any other capacity, in any competition with the Client or any of its subsidiaries,
including any company engaged in AI robotics business.

 

7.
Nonsolicitation of Customers

 

During
the term of this Agreement and for 2 years thereafter, the Consultant will not, directly or indirectly, solicit or attempt to solicit
any business from any of the Company’s clients, prospects, employees or contractors.

 

8.
Nonsolicitation of Employees

 

During
the term of this Agreement and for 2 years thereafter, the Consultant will not, directly or indirectly, recruit, solicit, or induce,
or attempt to recruit, solicit, or induce, any of the Company’s employees, or contractors for work at another company.

 

9.
Indemnification

 

The
Client agrees to indemnify, defend, and protect the Consultant from and against all lawsuits and costs of every kind pertaining to the
Client’s business including reasonable legal fees due to any act or failure to act by the Client based upon the Consulting Services.

 

10.
No Modification Unless in Writing

 

No
modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.

 

11.
Applicable Law

 

This
Consulting Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of Cayman Islands
and subject to the exclusive jurisdiction of the federal and state courts located in Cayman Islands.

 

    2

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Consulting Agreement effective as of the date written below.

 

	 	 
	NAME: [Officer Name]	 
	DATE: August 31, 2022	 

 

GUARDFORCE
AI CO., LTD.

 

	 	 
	AUTHORIZED SIGNATORY	 
	DATE: August 31, 2022	 

 

 

3

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