SEC Contract Filing

Filing Date: 2021-05-21

Document Content:
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<TYPE>EX-10.21
<SEQUENCE>3
<FILENAME>ex10-21.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.21</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>AMENDMENT
TO CONVERTIBLE PROMISSORY NOTE </U></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Amendment to Convertible Promissory Note (the &ldquo;Amendment&rdquo;) is entered into as of May 17, 2021, by and between Can B Corp.,
a Florida corporation (the &ldquo;Company&rdquo;), and Arena Special Opportunities Fund, LP, a Delaware limited partnership (the &ldquo;Holder&rdquo;).
The Company and the Holder are sometimes referred to herein individually as a &ldquo;party&rdquo; and collectively as the &ldquo;parties.&rdquo;
Capitalized terms used herein but not defined shall have the meaning ascribed to them in the Note.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>R
E C I T A L S</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Company issued that certain Original Issue Discount Senior Secured Convertible Promissory Note dated December 10, 2020 (the &ldquo;Note&rdquo;)
to the Holder; and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the parties wish to amend certain terms of the Note, as set forth in this Amendment.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, the Note is amended as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<U>Maturity Date</U>. The Maturity Date of the Note is hereby amended from September 10, 2021 to January 31, 2022.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
<U>Acknowledgement of Non-Default</U>. The Holder hereby acknowledges the Company is not currently in default under the Note and to the
extent that the Company is in default, the Holder hereby waives such default as of the date of this Amendment but does not hereby waive
any future defaults.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
<U>Section 7(h)</U>. Section 7(h) of the Note is hereby amended and restated in its entirety to ready as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;sell,
lease or otherwise dispose of any significant portion of its assets, or acquire any assets or business that would result in a Change
of Control Transaction, on or after the Original Issue Date, without Holder&rsquo;s prior consent;&rdquo;</FONT></P>

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