DonaldHunter, the Company’s new CEOpaidthe sum of $150,000 in exchange for Mr. Moran’s delivery of 100% of his50,000,000 shares ofcontrolled Preferred Stock in the Company.Thesepreferredsharesare convertible to common stock at the ratio of 50 to 1per aunanimousthird quarter 2019 proxy vote.
•The Company agreed to reimburse Mr. Moranthe sum up to $44,000 for Company expenses charged to his personal credit cards.
The Company shall assign and transfer all rights and title to logos and trademarks for Lean Slow Motion Potion.
•Dewmar grants to Mr. Moran, or his assigns, onan exclusive basis,all rights to online sales in the United States for Kush Cakes.Additionally,Mr. Moranshall be entitledto directly purchase or assignan entity to purchaseKushCakes at a pricenot to exceed a 20% mark-up to cost.
•Dewmar grants to Mr. Morana royalty on the sales of Kush Cakesranging from 1% upto 10% for a period not to exceed 6 years.
•Dewmar shall provide a credit facility to Mr. Moranof Two Hundred Thousand Dollars ($200,000) at the rate of LIBOR plus 200 basis points for the financing of Mr. Moran’s post-termination business activities. Mr. Moranshall qualify to receive this credit facility any time after twelve (12) months of the Termination Date.
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