SEC Contract Filing

Filing Date: 2022-08-04

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>ea163798ex10-2_smartforlife.htm
<DESCRIPTION>FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT, DATED JULY 29, 2022, AMONG SMART FOR LIFE, INC., CEAUTAMED WORLDWIDE, LLC, RMB INDUSTRIES, INC., RTB CHILDRENS TRUST AND D&D HAYES, LLC
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FIRST
AMENDMENT TO SECURITIES PURCHASE AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
First Amendment, dated July 29, 2022 (the &ldquo;<B>First Amendment</B>&rdquo;), shall form a part of that certain Securities Purchase
Agreement, dated March 14, 2022 (the &ldquo;<B>Purchase Agreement</B>&rdquo;), by and between <FONT STYLE="font-variant: small-caps"><B>Smart
for Life, Inc.</B></FONT>, a Delaware corporation (the &ldquo;<B>Buyer</B>&rdquo;), <FONT STYLE="font-variant: small-caps"><B>Ceautamed
Worldwide, LLC</B></FONT>, a Florida limited liability company (the &ldquo;<B>Company</B>&rdquo;), <FONT STYLE="font-variant: small-caps"><B>RMB
Industries, Inc.</B></FONT> (&ldquo;<B>RMB</B>&rdquo;), <B>RTB <FONT STYLE="font-variant: small-caps">Childrens Trust</FONT></B> (&ldquo;<B>RTB</B>&rdquo;)
and <FONT STYLE="font-variant: small-caps"><B>D&amp;D Hayes, LLC</B></FONT> (&ldquo;<B>D&amp;D</B>&rdquo;, and together with RMB and
RTB, the &ldquo;<B>Sellers</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 31.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the extent that the terms of this First Amendment conflict with those contained in the Purchase Agreement, the terms of this First Amendment
shall control. Capitalized terms not defined herein shall have the meanings assigned to them in the Purchase Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 31.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, in consideration of the foregoing premises and the respective representations and warranties, covenants and agreements contained
herein, the parties agree as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;Section
2.1 of the Purchase Agreement shall be amended and restated in its entirety to read as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<U>Purchase
and Sale of the Securities</U>. Upon the terms and subject to the conditions set forth in this Agreement, the Buyer agrees to pay to
the Sellers for the Securities in the aggregate at (or, in the case of clause (i) below, prior to) the Closing Eight Million Six Hundred
Thousand Dollars ($8,600,000) (the &ldquo;Purchase Price&rdquo;), subject to adjustment as described in Section 2.2 below, by delivery
of (i) cash in the amount of One Million Dollars (the &ldquo;Pre-Closing Cash Portion&rdquo;) that was paid to the Company, for the benefit
of the Sellers, on or around June 10, 2022, (ii) Two Million Dollars ($2,000,000) (the &ldquo;Closing Cash Portion&rdquo; and together
with the Pre-Closing Cash Portion, the &ldquo;Cash Portion&rdquo;), payable by wire transfer of immediately available funds to the bank
accounts identified by Sellers to Buyer in writing at least two (2) business days prior to the Closing Date, (iii) three (3) secured
subordinated convertible promissory notes (each, a &ldquo;Buyer Note I&rdquo;), in the form to be agreed to by the Company and the Buyer,
in the aggregate principal amount of Two Million One Hundred Fifty Thousand Dollars ($2,150,000); with each Buyer Note I being issued
to such Seller in the principal amount set forth opposite such Seller&rsquo;s name on <U>Exhibit A</U>, (iv) three (3) secured subordinated
non-convertible promissory notes (each, a &ldquo;Buyer Note II&rdquo;), in the form to be agreed to by the Company and the Buyer, in
the aggregate principal amount of Two Million One Hundred Fifty Thousand Dollars ($2,150,000), with each Buyer Note II being issued to
such Seller in the principal amount set forth opposite such Seller&rsquo;s name on <U>Exhibit A</U>