SEC Contract Filing

Filing Date: 2021-11-17

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ex10-1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit 10.1</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE
COMPETITIVE HARM TO MUSCLEPHARM CORPORATION IF PUBLICLY DISCLOSED</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>FIRST
AMENDMENT TO CONFIDENTIAL SETTLEMENT AGREEMENT</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
FIRST AMENDMENT TO CONFIDENTIAL SETTLEMENT AGREEMENT(&ldquo;<U>Amendment</U>&rdquo;) is entered into by and between NBF Holdings Canada
Inc. (&ldquo;<U>Nutrablend</U>&rdquo;) and MusclePharm Corporation (&ldquo;<U>MusclePharm</U>&rdquo;). (Nutrablend and MusclePharm are
referred to collectively as the &ldquo;<U>Parties</U>,&rdquo; or individually as a &ldquo;<U>Party</U>.&rdquo;) The Effective Date of
this Amendment shall be the latest date shown on the fully executed signature page(s) (&ldquo;<U>Effective Date</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>RECITALS</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.
On or about September 17, 2020, Nutrablend and MusclePharm entered into a Confidential Settlement Agreement (as amended through this
Amendment, the &ldquo;<U>Agreement</U>&rdquo;), which resolved a civil action pending in the United States District Court for the Central
District of California, captioned <I>NBF Holdings Canada Inc. v. MusclePharm Corporation</I>, Case No. 2:20- cv-01946-SVW-AFM (the &ldquo;<U>First
Litigation</U>&rdquo;). The Agreement contained provisions (i) requiring MusclePharm to make certain payments to Nutrablend on a schedule
set forth in the Agreement (the &ldquo;<U>Monthly Payments</U>&rdquo;); and (ii) requiring MusclePharm to issue certain purchase orders
to Nutrablend on a schedule set forth in the Agreement (the &ldquo;<U>Purchase Orders</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
The Parties agree that MusclePharm has made all Monthly Payments due since the Effective Date of the Agreement, through to the Effective
Date of this Amendment (including all Monthly Payments due in the First, Second, Third and Fourth Pay Periods (as each such term is defined
below), and the first payment due in the Fifth Pay Period (as defined below)). MusclePharm hereby reaffirms its obligation to continue
making Monthly Payments as required by and as set forth in the Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.
After execution of the Agreement, a dispute arose between Nutrablend and MusclePharm concerning the parties&rsquo; performance of their
respective obligations under the provisions of the Agreement (the &ldquo;<U>Purchase Order Provisions</U>&rdquo;) relating to the issuance
and fulfillment of the Purchase Orders.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D.
On July 7, 2021, MusclePharm commenced