<SEC-DOCUMENT>0001387131-21-006555.txt : 20210614
<SEC-HEADER>0001387131-21-006555.hdr.sgml : 20210614
<ACCEPTANCE-DATETIME>20210614165340
ACCESSION NUMBER:		0001387131-21-006555
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210614
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210614
DATE AS OF CHANGE:		20210614

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NANOPHASE TECHNOLOGIES Corp
		CENTRAL INDEX KEY:			0000883107
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS PRIMARY METAL PRODUCTS [3390]
		IRS NUMBER:				363687863
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22333
		FILM NUMBER:		211015196

	BUSINESS ADDRESS:	
		STREET 1:		1319 MARQUETTE DRIVE
		CITY:			ROMEOVILLE
		STATE:			IL
		ZIP:			60446
		BUSINESS PHONE:		6303231200

	MAIL ADDRESS:	
		STREET 1:		1319 MARQUETTE DRIVE
		CITY:			ROMEOVILLE
		STATE:			IL
		ZIP:			60446

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NANOPHASE TECHNOLOGIES CORPORATION
		DATE OF NAME CHANGE:	19970305
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>nanx-8k_061421.htm
<DESCRIPTION>CURRENT REPORT
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K<BR>
CURRENT REPORT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Pursuant to Section 13 or 15(d) of the</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Securities Exchange Act of 1934</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Date of Report (Date of earliest event reported):
June 14, 2021 (June 8, 2021)</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>NANOPHASE TECHNOLOGIES CORPORATION</B></P>

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

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt; width: 33%"><B>Delaware</B></TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt; width: 34%"><B>0-22333</B></TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt; width: 33%"><B>36-3687863</B></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">(State or other</TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">(Commission</TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">(IRS Employer</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">jurisdiction of</TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">File Number)</TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">Identification No.)</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">incorporation)</TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>1319 Marquette Drive, Romeoville, Illinois 60446</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">(Address of principal executive offices) (Zip Code)</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">Registrant&rsquo;s telephone number, including area
code: <B>(630) 771-6700</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>Not applicable</B></P>

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

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.25in">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
(<I>see </I>General Instruction A.2. below):</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))<BR STYLE="clear: both"></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>


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<P STYLE="margin: 0 0 10pt 84.95pt; font-size: 10pt; text-indent: -84.95pt"><B>Item 1.01 Entry into a Material
Definitive Agreement.</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt">On June 8, 2021, Solesence, LLC (&ldquo;Sol&eacute;sence&rdquo;),
a wholly-owned subsidiary of Nanophase Technologies Corporation, entered into an Exclusive Supply Agreement (the &ldquo;Supply Agreement&rdquo;),
effective April 1, 2021 with Ilia Beauty, Inc. (&ldquo;Ilia&rdquo;). Pursuant to the Supply Agreement, Sol&eacute;sence has agreed to
sell certain skincare products to Ilia on an exclusive basis. The Supply Agreement includes non-binding sales forecasts and requires
Ilia to make additional purchases or payments to Sol&eacute;sence if Ilia does not purchase a certain percentage of the forecasted sales
in a given year. If actual purchases do not meet the forecasts during the first two years of the term of the Supply Agreement, the parties
may renegotiate or terminate the Supply Agreement. Price increases are capped under the Supply Agreement and if actual sales exceed forecasted
sales for a given year, prices will be discounted in the following year.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt">The Supply Agreement has an initial term of three years from April
1, 2021 and will automatically renew for additional one-year terms unless Ilia provides 90 days&rsquo; advance written notice of its
intent to terminate. Either party may terminate the Supply Agreement, subject to the right to cure, on 30 days&rsquo; written notice
due to a material breach by the other party.</P>

<P STYLE="margin: 0 0 0.22in; font-size: 10pt">This Item 1.01 is qualified in its entirety by reference to the
complete text of the Supply Agreement, which is filed, with confidential portions redacted, as an exhibit to this current report on Form
8-K.</P>



<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
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    <TD STYLE="padding: 0; font-size: 10pt; width: 15%"><U>Exhibit</U></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; width: 85%">Description</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="padding: 12pt 0 0; font-size: 10pt"><A HREF="ex10-1.htm">10.1</A></TD>
    <TD STYLE="padding: 12pt 0 0; font-size: 10pt">Exclusive Supply Agreement, effective April 1, 2021,
    between Solesence, LLC and Ilia Beauty, Inc.*</TD></TR>
  </TABLE>
<P STYLE="margin: 0 0 0in; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 10pt; font-size: 10pt">* Confidential portions of this exhibit have been redacted.<BR STYLE="clear: both"></P>


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<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 1in">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="margin: 0; font-size: 10pt">Dated: June 14, 2021</P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 0 40%; font-size: 10pt">NANOPHASE TECHNOLOGIES CORPORATION</P>

<P STYLE="margin: 0 0 0 40%; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 0 40%; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 0 40%; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 0 40%; font-size: 10pt">By:</P>

<P STYLE="border-bottom: Black 1pt solid; margin: -11pt 0 0 45%; text-indent: 0; font-size: 10pt">&nbsp;&nbsp;&nbsp;/s/ JESS JANKOWSKI</P>

<P STYLE="margin: 0 0 0 45%; font-size: 10pt; text-indent: 0">Name: Jess Jankowski</P>

<P STYLE="margin: 0 0 0 45%; font-size: 10pt; text-indent: 0">Title: &nbsp;&nbsp;Chief Executive Officer</P>

<P STYLE="margin: 0 0 0 3in; font-size: 10pt; text-indent: 0.25in">&nbsp;</P>


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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>EXCLUSIVE SUPPLY AGREEMENT
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0 0 0in; font-size: 10pt"><A HREF="nanx-8k_061421.htm">Nanophase Technologies Corporation 8-K</A></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; font-weight: bold; text-align: right">Exhibit 10.1</P>

<P STYLE="text-align: left; margin: 1.95pt 0 0; font-size: 10pt">CERTAIN INFORMATION, MARKED IN THIS EXHIBIT WITH BRACKETS, HAS
BEEN EXCLUDED FROM THIS EXHIBIT IN RELIANCE ON REGULATION S-K, ITEM 601(B)(10)(IV) BECAUSE SUCH INFORMATION IS BOTH NOT MATERIAL AND
WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.</P>

<P STYLE="margin: 1.95pt 0 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="text-align: center; margin-top: 1.95pt; margin-bottom: 0; font-size: 10pt"><B>EXCLUSIVE SUPPLY AGREEMENT</B></P>

<P STYLE="text-align: left; margin: 0.3pt 0 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: left">THIS EXCLUSIVE SUPPLY AGREEMENT (&ldquo;Agreement&rdquo;),
made as of <B>April 1 st 2021</B> (&quot;Effective Date&quot;), is by and between <B>SOLESENCE, LLC</B> (&quot;SUPPLIER&quot;) and ILIA
Beauty, Inc., 1100 S. Coast Hwy #318, Laguna Beach, CA (&ldquo;ILIA&rdquo;).</P>

<P STYLE="text-align: left; margin: 0.3pt 0 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: left">SUPPLIER and ILIA agree as follows:</P>



<P STYLE="text-align: left; margin: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: left">SUPPLIER represents and warrants that it owns all intellectual
property rights, including any existing utility/design patents and copyright, in [************] and associated features listed in Addendum
1 (&ldquo;PRODUCT&rdquo;). SUPPLIER agrees it will not sell, or otherwise make available, the PRODUCT or any product which may serve
as a reasonable substitute for the PRODUCT, to any other party during the term of the Agreement. In the event that ILIA&rsquo;s purchases
do not meet the aggregate forecasts after the 2nd year, the parties agree, upon written notice from either party, to attempt to renegotiate
this agreement in good faith for a period of 30 days and suspend its automatic renewal. If the parties are unable to agree to amended
terms within that thirty-day period, then either party may promptly terminate the agreement without penalty.</TD>
</TR></TABLE>

<P STYLE="text-align: left; margin: 0.05pt 0 0; font-size: 10pt">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: left">ILIA&rsquo;s annual forecasts for purchases of the PRODUCT
are: [****] units, 2021; [****] units 2022, [****] units, 2023, provided that these forecasts are not binding on ILIA. The parties agree
that ILIA&rsquo;s actual purchase orders may deviate from these forecasts and SUPPLIER confirms that it has the capacity to produce at
least [****] units of PRODUCT annually. If the ordered quantities on a given year fail to reach [****]% of the forecasted quantity, ILIA
will either place a one-time purchase order to reach [****]% or issue payment to SUPPLIER for an amount equivalent to [****]% of the
value of missing purchases.</TD>
</TR></TABLE>



<P STYLE="text-align: left; margin: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: left">The pricing for the PRODUCT for the first year of the Term
shall be per Addendum 2 and SUPPLIER confirms that any subsequent price increase will not occur more than once per year at a maximum
of [*]% per annum, to be communicated to ILIA in writing at least ninety (90) days in advance of any such increase. The pricing for the
product will decrease by the following scale in the case that the quantities purchased by ILIA exceed the forecasts: Quantity &gt;-[****]%,
price &ndash;[****]; Qty &gt;[****]%, price &ndash;[****]%; Qty &gt;[****]%, price &ndash;[****]%; Qty &gt;[****]%, price &ndash;[****]%
on all purchases of the following year (e.g. if ILIA purchases [****]% of the annual forecast for year one, the pricing for year two
will be reduced by [****]%).</TD>
</TR></TABLE>



<P STYLE="text-align: left; margin: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: left">This Agreement shall become effective on the &ldquo;Effective
Date&rdquo; and shall continue until April 1st 2024 (the &ldquo;Initial Term&rdquo;). The Agreement shall then automatically renew for
successive 12-month terms (each 12-month term an &ldquo;Extension Term&rdquo; and collectively, &ldquo;Extension Terms&rdquo;), unless
ILIA provides the other party written notice 90 days prior to the end of the current Extension Term that it is terminating the Agreement
upon the expiration of the current Extension Term. &ldquo;Term&rdquo; shall be defined as the Initial Term and if applicable, the Extension
Terms. Either party may terminate the Agreement in the event of a material breach by the other party that is not cured within thirty
(30) days of receipt of written notice of such alleged breach.</TD>
</TR></TABLE>

<P STYLE="text-align: left; margin: 0.2pt 0 0; font-size: 10pt">&nbsp;</P>



<P STYLE="text-align: left; margin: 0.2pt 0 0; font-size: 10pt">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: left">The geographic scope of the Agreement, including its exclusivity
provision, shall be worldwide.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD STYLE="text-align: left">This Agreement may not be assigned by either party without
the written consent of the other except that either party may assign this Agreement to any of its subsidiaries or affiliated companies
at any time (provided that such assignment forms part of an assignment of the business of such party to such subsidiary or affiliate),
or, in the case of ILIA, to any party acquiring a majority interest in ILIA, subject only to the obligation to give the other party notice
of such proposed assignment.</TD>
</TR></TABLE>



<P STYLE="text-align: left; margin: 0.35pt 0 0; font-size: 10pt">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">7.</TD><TD STYLE="text-align: left">The parties agree that the terms of the Agreement are to
be kept strictly confidential (excluding the Terms of Purchase) and not to be disclosed to any outside party unless disclosed to professional
legal or business advisers who are under an equal obligation to keep same strictly confidential.</TD>
</TR></TABLE>



<P STYLE="text-align: left; margin: 0.05pt 0 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">8.</TD><TD STYLE="text-align: left">SUPPLIER agrees and acknowledges that the Terms of Purchase
available at www.iliabeauty.com/terms also form part of this Agreement, and that this Agreement
(including those Terms of Purchase) constitutes the entire agreement between the parties with reference to the subject matter of the
Agreement and supersede all prior negotiations, understandings, representations and agreements (including but not limited to any terms
of sale issued by SUPPLIER, which shall not apply). Each of the parties acknowledges that it is entering into this Agreement as a result
of its own independent investigation and not as a result of any representations of any party not contained in this Agreement. The Agreement
shall be binding on the parties, their affiliated companies, successors and assigns (if any), and each party warrants that the undersigned
is authorized to execute the Agreement on behalf of its respective party.</TD>
</TR></TABLE>

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    <TD STYLE="text-align: left; padding: 0; font-size: 10pt; width: 50%"><B>SOLESENCE, LLC</B></TD>
    <TD STYLE="text-align: left; padding: 0; font-size: 10pt; width: 50%"><B>ILIA BEAUTY, INC.</B></TD></TR>
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    <TD STYLE="text-align: left; padding: 0; font-size: 10pt">By: <U>/s/Kevin Cureton</U></TD>
    <TD STYLE="text-align: left; padding: 0; font-size: 10pt">By: <U>/s/ Lynda Berkowitz</U></TD></TR>
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    <TD STYLE="text-align: left; padding: 0 0 0 0.25in; font-size: 10pt">Kevin Cureton</TD>
    <TD STYLE="text-align: left; padding: 0 0 0 0.25in; font-size: 10pt">Lynda Berkowitz</TD></TR>
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    <TD STYLE="text-align: left; padding: 0 0 0 0.25in; font-size: 10pt">COO</TD>
    <TD STYLE="text-align: left; padding: 0 0 0 0.25in; font-size: 10pt">CEO</TD></TR>
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    <TD STYLE="text-align: left; padding: 0 0 0 0.25in; font-size: 10pt">SOLESENCE, LLC</TD>
    <TD STYLE="text-align: left; padding: 0 0 0 0.25in; font-size: 10pt">ILIA</TD></TR>
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    <TD STYLE="text-align: left; padding: 0; font-size: 10pt">Date: 06 / 08 / 2021</TD>
    <TD STYLE="text-align: left; padding: 0; font-size: 10pt">Date: 05 / 24 / 2021</TD></TR>
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