FOMO Worldwide Inc (IGOT)

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Mr. James Donnellan
James has a premium account Click to upgrade to Premium UNDERground Villas & Hotels / CBD / Cannabis / Apparel / Esports / Medi-Puff

https://www.linkedin.com/in/jamesdonnellan/

June 7, 2019
James Donnellan Owner LVG1
d/b/a UNDERground Villas & Hotels
94A Range Road,
Windham, NH 03087

LETTER OF INTENT

Mr. Donnellan:

This letter is an offer by 2050 Corp. (“2050”) to partner with and invest in LVG1, an LLC d/b/a UNDERground Villas & Hotels (“UNDERground”), an Internet based business targeting travel, trade,
e-commerce and related support and services under the global brand “UNDERground”. The offer will become binding upon
the achievement of certain milestones and signing of a Definitive Agreement.

Summary Terms

Subject to further definition of contractual terms to resell UNDERground products and services, including your full array of CBD offerings, and testing and validation of UNDERground’s e-commerce platform, 2050 proposes the following summary terms:

? 2050 shall issue to UNDERground 100,000 Series B Preferred Shares, convertible into 100,000,000 common shares which represents approximately 10% of 2050’s diluted equity capitalization. UNDERground shall have the right to distribute these shares to its employees, affiliates or representatives or have them issued to said entities directly by 2050 as required by and to be compliant with U.S. securities laws and regulations.

? UNDERground shall issue 2050 10% of common and/or preferred equity or similar economic ownership of UNDERground, with 2050 being issued aright of participation in future UNDERground funding rounds through year-end 2022 at its 10% ownership threshold. Future investment may be made in the form of cash or preferred shares based on prevailing market prices based on a 50-day moving average closing bid price of 2050 common stock.

? A sales and marketing commission arrangement will be executed, whereby customers signing up for an UNDERground affiliate program to be called
“2050travel” will use a unique promo code. 2050travel will be labeled an “UNDERground Company” or similar. 2050travel may be rebranded as a travel solution embedded within 2050 Corp.’s social media platform currently under development.

? UNDERground shall be given a 3-year option to spin-out/spin-off to 2050 shareholders. 2050 will bear the expenses of any S-1 or other required registration/filing for such action.