<SEC-DOCUMENT>0001683168-20-004455.txt : 20201228
<SEC-HEADER>0001683168-20-004455.hdr.sgml : 20201228
<ACCEPTANCE-DATETIME>20201228171147
ACCESSION NUMBER:		0001683168-20-004455
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20201221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201228
DATE AS OF CHANGE:		20201228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Lifeway Foods, Inc.
		CENTRAL INDEX KEY:			0000814586
		STANDARD INDUSTRIAL CLASSIFICATION:	DAIRY PRODUCTS [2020]
		IRS NUMBER:				363442829
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17363
		FILM NUMBER:		201419095

	BUSINESS ADDRESS:	
		STREET 1:		6431 W OAKTON
		CITY:			MORTON GROVE
		STATE:			IL
		ZIP:			60053
		BUSINESS PHONE:		847-967-1010

	MAIL ADDRESS:	
		STREET 1:		6431 W OAKTON
		CITY:			MORTON GROVE
		STATE:			IL
		ZIP:			60053

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIFEWAY FOODS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>lifeway_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</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">Date of Report (Date of earliest event reported):&nbsp;December
21, 2020</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIFEWAY FOODS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt">ILLINOIS</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt">000-17363</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt">36-3442829</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer Identification No.)</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">6431 Oakton St. Morton Grove, IL</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">60053</FONT></TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Address of principal executive offices)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Zip code)</B></FONT></TD></TR>
</TABLE>
<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">(847) 967-1010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 98%"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Securities registered pursuant to Section 12(b) of the Act:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 33%; border: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Title of each Class</B></FONT></TD>
    <TD STYLE="width: 30%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Trading Symbol</B></FONT></TD>
    <TD STYLE="width: 37%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">LWAY</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Nasdaq</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect; 230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect; 240.12b 2 of this chapter). Emerging growth company <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If any emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Item
                                         1.01.&nbsp;&nbsp;&nbsp;&nbsp; Entry into a Material Definitive Agreement</B></P>

&nbsp;</B><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 28, 2020, Lifeway Foods, Inc. (the &ldquo;Company&rdquo;)
entered into an amended and restated consulting agreement (the &ldquo;Agreement&rdquo;), effective as of December 31, 2020, with
Ludmila Smolyansky, the Company&rsquo;s Chairman of the Board. Under the terms and conditions of the Agreement, Ms. Smolyansky
will continue to provide consulting services with respect to, among other things, our business strategy, international expansion
and product management and expansion. For her services, the Company will pay Ms. Smolyansky an annual service fee of $500,000.
Ms. Smolyansky will also be eligible for an annual performance fee target of $500,000 based on the achievement of specified performance
criteria. Ms. Smolyansky&rsquo;s annual service fee and target bonus amounts are subject to periodic change by the Compensation
Committee of the Company&rsquo;s Board of Directors on 30 days&rsquo; prior written notice to Ms. Smolyansky. The Agreement shall
continue until either party provides at least a 10 day written notice of termination. Ms. Smolyansky will continue to be paid
in arrears pursuant to the currently effective Consulting Agreement, dated as of March 8, 2016, between the Company and Ms. Smolyansky
(the &ldquo;Consulting Agreement&rdquo;) only for periods ending on or before December 31, 2020. The foregoing description of
the Agreement is qualified in its entirety by reference to the full text of the Agreement which will be filed in accordance with
the SEC&rsquo;s rules and regulations.<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.02.&nbsp;&nbsp;&nbsp;&nbsp;Termination of a Material
Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the terms of the Consulting Agreement, on
December 21, 2020, the Company gave 10 days prior written notice to Ms. Smolyansky that the Company is terminating the Consulting
Agreement effective December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01. Financial Statements and Exhibits</B></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 7%">No.</TD>
    <TD STYLE="width: 78%">Description</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>10.1</TD>
    <TD><A HREF="lifeway_ex1001.htm">Amended and Restated Consulting Agreement dated December 28, 2020 by and between the Company and Ludmila Smolyansky</A></TD>
    <TD>Filed Herewith</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated:&nbsp;&nbsp;&nbsp;&nbsp; December 28, 2020</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>LIFEWAY FOODS, INC.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">By:&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Eric
Hanson</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: <FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; text-transform: none">Eric
Hanson</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: <FONT STYLE="font-style: normal; font-weight: 400; text-decoration: initial; text-transform: none">Chief
Financial &amp; Accounting Officer</FONT></P></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 4.15pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>lifeway_ex1001.htm
<DESCRIPTION>AMENDED AND RESTATED CONSULTING AGREEMENT
<TEXT>
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<P STYLE="margin: 0">Exhibit 10.1</P>

<P STYLE="margin: 0">&nbsp;<FONT STYLE="text-decoration: none"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 84pt 0pt 83.95pt; text-align: center">AMENDED AND RESTATED
CONSULTING AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">THIS
AMENDED AND RESTATED CONSULTING AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;) is made as of this 28<SUP>th</SUP> day of December,
2020, by and between Lifeway Foods, Inc. (the &ldquo;<U>Company</U>&rdquo;) and Ludmila Smolyansky (&ldquo;<U>Consultant</U>&rdquo;).
This Agreement shall take effect on January 1, 2021 (the &ldquo;<U>Effective Date</U>&rdquo;) provided the Original Agreement
(defined below) has not been terminated prior thereto in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">WHEREAS, the Company and Consultant
entered into a Consulting Agreement, dated March 8, 2016 (the &ldquo;<U>Original Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">WHEREAS,
the Company desires to continue to retain Consultant to perform certain services for the Company, and the Consultant desires to
continue to perform such services for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">WHEREAS,
the Company and Consultant desire to amend and restate the Original Agreement on the terms and conditions set forth herein and
replace the Original Agreement as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">WHEREAS,
the Compensation Committee (the &ldquo;<U>Committee</U>&rdquo;) of the Board of Directors of the Company (the &ldquo;<U>Board</U>&rdquo;)
and the Board have determined that it is in the best interest of the Company to enter into this Agreement and have approved the
terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Consulting Services</U>. Consultant hereby agrees to provide consulting services to the Company during the Term (as hereinafter
defined) pursuant to the terms and conditions of this Agreement, including, without limitation, the services set forth on <U>Exhibit
A </U>hereto (collectively, the &ldquo;<U>Services</U>&rdquo;). During the Term, Consultant shall report to the individual, group
or committee designated by the Committee. Consultant shall not be an agent or employee of the Company, and Consultant is not authorized
to act on behalf of the Company and may not enter into any contracts or make any promises or commitments of any kind whatsoever
on behalf of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Term</U>. The term (the &ldquo;<U>Term</U>&rdquo;) of this Agreement shall commence on the Effective Date and continue
until such time as a party hereto notifies the other party upon at least ten (10) days prior written notice it is terminating
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">3.&nbsp;&nbsp;&nbsp; <U>Scope of Work</U>. During the Term, Consultant shall perform the Services.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Compensation</U>. During the Term, the Company agrees to pay Consultant consulting fees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Consultant shall initially be entitled to an aggregate gross annual service fee equal to $500,000 per year (and prorated
for portions thereof); provided that the annual fee shall be subject to periodic review by the Committee and may be adjusted in
the Committee&rsquo;s sole discretion </FONT>upon no less than thirty (30) days&rsquo; advance written notice to Consultant. The
fee as determined herein and adjusted from time to time shall constitute the &ldquo;<U>Annual Service Fee</U>&rdquo; for purposes
of this Agreement. The Annual Service Fee shall be paid in equal installments bi-weekly in arrears.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition, Consultant shall be eligible for an aggregate gross performance fee targeted at $500,000 per calendar year
based upon the achievement of the specified performance criteria established by the Committee with respect to such calendar year,
with greater or lesser amounts paid for performance above and below target as determined by the Committee (the &ldquo;<U>Performance
Fee</U>&rdquo;). The Performance Fee shall be paid on an annual basis in the calendar year immediately following the calendar
year to which such amount relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 80pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prior to the Effective Date, Consultant shall continue to receive the fees set forth in the Original Agreement, payable
in accordance with the terms thereof, including, without limitation, any accrued but unpaid fees with respect to services provided
prior to the Effective Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">5.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Expenses</U>. The Company shall have no obligation to reimburse Consultant for any expenses incurred by Consultant in
connection with the performance of services hereunder. Any expense reimbursements agreed to by the Company shall require prior
written approval from the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">6.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Confidential Information</U>. Unless otherwise requested by the Company in writing, Consultant shall at all times during
the Term and at all times thereafter hold in strictest confidence any and all Confidential Information Consultant may have or may
come into Consultant&rsquo;s possession or within Consultant&rsquo;s knowledge concerning the operation of the business of the
Company. The term &ldquo;<U>Confidential Information</U>&rdquo; means all information, other than information which is part of
the public domain through no fault of Consultant, not generally known in the relevant trade or industry, which was obtained from
the Company, or which was learned, discovered, developed, conceived, originated or prepared by Consultant within the scope of his
services hereunder, or which relates to trade secrets or confidential technical or business information of the Company. This Section
6 survives termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Nothing in this
Agreement shall prohibit or impede Consultant from communicating, cooperating or filing a complaint with any governmental
entity with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise making
disclosures to any governmental entity, in each case, that are protected under the whistleblower provisions of any such law
or regulation, <U>provided </U>that in each case such communications and disclosures are consistent with applicable law.
Consultant understands and acknowledges that an individual shall not be held criminally or civilly liable under any federal
or state trade secret law for the disclosure of a trade secret that is made <FONT STYLE="text-decoration: none">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>in
confidence to a federal, state, or local government official or to an attorney solely for the purpose of reporting or
investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal. Consultant understands and acknowledges further that an individual who files a lawsuit for
retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the
individual and use the trade secret information in the court proceeding, if the individual files any document containing the
trade secret under seal; and does not disclose the trade secret, except pursuant to court order.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="text-decoration: none"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">7.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Independent Status</U>. For the purposes of the Federal Insurance Contributions Act (FICA), the Federal Unemployment
Contributions Act (FUCA), each state&rsquo;s Worker&rsquo;s Compensation Act, and the collection of state and federal income tax
as source of wages, the relationship between the Company and Consultant is that of a company and an independent contractor, respectively.
The Company will not withhold any monies for federal, states or local taxing authority for amounts earned by Consultant pursuant
to this Agreement. Consultant will be solely responsible for the payment of all withholding taxes, social security, workers&rsquo;
compensation, unemployment and disability insurance or similar items required by any government agency. Consultant will not be
entitled to any benefits paid or made available by the Company to its employees, including, without limitation, any vacation or
illness payments, or to participate in any plans, arrangements or distributions made by Company pertaining to any bonus, stock
option, profit sharing, insurance or similar benefits. Consultant will perform the Services under the general direction of the
Company, but Consultant will determine, in Consultant&rsquo;s sole discretion, the manner and means by which Services are performed
and accomplished, subject to the requirement that Consultant will at all times comply with applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">8.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Amendment and Waiver</U>. This Agreement may not be modified, amended, altered or supplemented except by written agreement
executed by all parties hereto. Any term or provision of this Agreement may be waived in writing at any time by the party that
is entitled to its benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">9.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Successors and Assigns</U>. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
heirs, personal representatives and permitted successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">10.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Headings</U>. Any headings of sections of this Agreement are solely for the convenience of the parties and are not a
part of this Agreement nor are they to be used in its interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">11.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Agreement may be executed in several counterparts; each such counterpart shall be considered an
original agreement and all such executed counterparts shall constitute one Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">12.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Governing Law</U>. This Agreement is subject to and shall be enforced in accordance with the laws of the State of Illinois.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">13.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Entire Agreement</U>. This Agreement contains the entire agreement of the parties relating to the subject matter hereof.
This Agreement supersedes any prior written or oral agreements between the parties, including, without limitation, upon the Effective
Date, the Original Agreement. For the sake of clarity, nothing set forth herein amends, modifies or terminates the Endorsement
Agreement between the Company and Consultant, dated March 14, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">14.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Severability</U>. If any covenant or agreement of this Agreement or the application thereof to any person or circumstance
shall be held to be invalid or unenforceable, then in each such event the remainder of this Agreement or the application of such
covenant or agreement to any other person or any other circumstance shall not be thereby affected. In such event, the parties shall
negotiate in good faith to replace the invalid or unenforceable provision with another reflecting the same relative distribution
of economic benefits and burdens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[signature page follows]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 40pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">IN WITNESS WHEREOF, the parties
have executed this Amended and Restated Consulting Agreement effective as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><B>Lifeway Foods, Inc.</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By: <U>/s/ Julie Smolyansky&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Its: Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD><U>/s/ Ludmila Smolyansky&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Ludmila Smolyansky</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 84pt 0pt 83.9pt; text-align: center"><U>EXHIBIT A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 83.95pt; text-align: center">SERVICES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.75pt"><U>Ethnic Market</U>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="text-decoration: none">Support the development of an overall strategy for the ethnic
market</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 5.65pt"><FONT STYLE="text-decoration: none">Support the Eastern European growth strategy,
including engaging with other leaders in the Eastern European market</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="text-decoration: none">Manage relationships with the Company&rsquo;s ethnic partners
and vendors</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 5.8pt"><FONT STYLE="text-decoration: none">Support and advise the Company&rsquo;s CEO with respect to the Company&rsquo;s growth initiatives</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="text-decoration: none">Collaborate with Russian-speaking department managers</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.75pt"><U>Strategic Initiatives and Relationship Management</U>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.65pt"><FONT STYLE="text-decoration: none">Provide advice and assistance in the
negotiation, documentation and management of important contractual relationships of the Company, including relationships with customers,
suppliers and key personnel</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.65pt"><FONT STYLE="text-decoration: none">Provide advice and assistance in connection
with operations, including with respect to the development and implementation of strategies for improving the operating, marketing
and financial performance of the Company</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="text-decoration: none">Formulate strategic plans related to the direction of sales and
marketing</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="text-decoration: none">Evaluate and explore potential acquisition opportunities</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="text-decoration: none">Review and advise with respect to the Company&rsquo;s proprietary
manufacturing processes</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.75pt"><U>Senior Management Consultation Services</U>:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 5.65pt"><FONT STYLE="text-decoration: none">Evaluate and provide strategic advice to
the CEO and/or the Company&rsquo;s Senior Leadership Team with respect to the overall direction of the Company</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 23.8pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; text-decoration: none">&middot;</FONT></TD><TD STYLE="text-align: left; padding-right: 5.65pt"><FONT STYLE="text-decoration: none">Provide additional advice and counsel requested
by the CEO and/or the Company&rsquo;s Senior Leadership Team</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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