Exhibit 10.1

CERTAIN INFORMATION HAS BEEN REDACTED BECAUSE IT IS NOT MATERIAL, IS TREATED AS CONFIDENTIAL BY THE REGISTRANT, AND MAY CAUSE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED.

FIFTH AMENDMENT TO LICENSE AGREEMENT

THIS FIFTH AMENDMENT TO THE LICENSE AGREEMENT is made effective this 15th day of September, 2025 (the “Effective Date”).

BETWEEN:

ENWAVE CORPORATION, a federally incorporated corporation under the Canada Business Corporations Act, with an office at #1 – 1668 Derwent Way, Delta, British Columbia, V3M 6R9

(“EnWave”)

AND:

BRANCHOUT FOOD INC., (formerly AVOLOV, LLC) a company incorporated under the laws of the State of Nevada, United States of America, with an address at 205 SE Davis, Suite C, Bend, Oregon 97702 United States of America

(the “Royalty Partner”)

WHEREAS:

A. On May 7, 2021, EnWave and Royalty Partner executed a License Agreement (the “License Agreement”) by which EnWave agreed to license to Royalty Partner and Royalty Partner agreed to license from EnWave, among other things, the EnWave Technology pursuant to the terms and conditions set out in the License Agreement;

B. On November 18, 2021, AvoLov LLC filed articles of conversion and with the Nevada Secretary of State and became BranchOut Food Inc.;

C. On October 26, 2022, EnWave and the Royalty Partner agreed to amend the License Agreement by the terms set forth in the amendment (the “First Amendment”);

D. On September 27, 2023, EnWave and Royalty Partner agreed to amend the License Agreement by the terms set forth in the second amendment (the “Second Amendment”);

E. On May 23rd, 2024 EnWave and Royalty Partner agreed to amend the License Agreement by the terms set forth in the third amendment (the “Third Amendment”); F. On February 10th, 2025 EnWave and the Royalty Partner agreed to amend the License Agreement by the terms set forth in the fourth amendment (the “Fourth Amendment”); and,

E. EnWave and the Royalty Partner wish to further amend the License Agreement by the terms set forth in this amendment (the “Fifth Amendment”).

NOW THEREFORE THIS FIFTH AMENDMENT WITNESSES that in consideration for the mutual agreements and covenants herein contained and other good and valuable consideration (the receipt and adequacy of such consideration being mutually acknowledged by each party), the parties agree as follows:

Schedule “C”

Description of Additional Products

3.10 EnWave agrees to make prioritized introductions between Royalty Partner and any third-party companies that communicate an inbound interest regarding the procurement of Products (the “Co-Manufacturing Opportunity”). Royalty Partner will then have thirty (30) days to confirm interest in the Co-Manufacturing Opportunity to EnWave through e-mail (the “Confirmation”). If EnWave does not receive Confirmation from Royalty Partner within thirty (30) days from the Co-Manufacturing Opportunity, EnWave may proceed with making additional introductions to other licensed royalty partners. If a commercial supply agreement is not signed by the Royalty Partner relating to the Co-Manufacturing Opportunity within ninety (90) days and there are no ongoing good faith negotiations between the parties toward a commercial supply agreement, EnWave may proceed with making additional introductions to other licensed partners.

3.11 EnWave agrees to not grant any additional options to license or licenses to use EnWave Technology to produce sweet potato products in South America to any third-party that does not already hold a valid option to license or license agreement with EnWave, so long as the exclusive rights granted to the Royalty Partner in the License Agreement are maintained as a result of the Royalty Partner meeting all commercial requirements outlined in the License Agreement.

IN WITNESS WHEREOF the parties have executed this Fifth Amendment as of the date hereof.

Exhibit 10.2

EQUIPMENT PURCHASE AGREEMENT

THIS AGREEMENT made as of the 15th day of September, 2025.

BETWEEN:

ENWAVE CORPORATION, a corporation existing under the federal laws of Canada and having an office at 1668 Derwent Way – Unit 1, Delta, British Columbia, V3M 6R9, Canada

(the “Vendor”)

AND:

BRANCHOUT FOOD INC., (formerly AVOLOV LLC) a corporation incorporated under the laws of the State of Nevada, United States of America, and having an address at 205 SE Davis, Suite C, Bend, Oregon 97702 United States of America

(the “Purchaser”)

WHEREAS:

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties covenant and agree as follows:

1. INTERPRETATION

1.1 Interpretation of Certain Terms. In this Agreement, unless the context otherwise requires, words imparting the singular include the plural and vice-versa, words importing gender include all genders and the word “including” is not limiting (whether or not non-limiting language is used with reference thereto).

1.2 Sections and Headings. The division of this Agreement into sections, subsections and paragraphs and the insertion of headings are for reference purposes only and shall not affect the interpretation of this Agreement. Unless otherwise indicated, any reference herein to a particular section, subsection or paragraph refers to the section, subsection or paragraph of this Agreement.

1.3 Currency. Unless otherwise stated, all amounts referred to in this Agreement are stated and payable in United States Dollars.

1.4 Governing Law and Attornment. This Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without giving effect to any choice or conflict of law provision or rule. The parties hereto irrevocably submit and attorn to the exclusive jurisdiction of the courts of British Columbia situated in Vancouver for all matters arising out of or in connection with this Agreement. Notwithstanding the foregoing, the security interest provided herein at Section 3.4 shall be subject to the laws of Peru.

2. PURCHASE AND SALE

2.1 Purchase and Sale of the EnWave Equipment. On the terms and subject to the conditions hereof and the Equipment Purchase General Terms and Conditions, attached hereto as Schedule A, the Vendor hereby agrees to sell, transfer and assign to the Purchaser, and the Purchaser agrees to purchase and accept from the Vendor, all of the right, title and interest of the Vendor in and to the EnWave Equipment, other than in respect of the “REV” trademark, which shall be retained by the Vendor.

2.2 Purchase Price. Subject to Section 2.3, the price payable by the Purchaser to the Vendor for the EnWave Equipment, excluding any tax payable incidental on the sale thereof, shall be the sum of $1,500,000 (the “Purchase Price”), which the Vendor and the Purchaser jointly agree is the fair market value of the refurbished 120kW EnWave Equipment. The Vendor and the Purchaser further acknowledge and agree that the Purchase Price reflects the entire consideration payable from the Purchaser to the Vendor taking into account the payment schedule and interest set out in Section 2.3 and any consideration payable from the Purchaser to the Vendor in respect thereof.

2.3 Payment of Purchase Price. The Purchase Price shall be paid and satisfied by the Purchaser issuing a promissory note in favour of the Vendor in the amount of $1,500,000.00 (the “Promissory Note”) in the form attached as Schedule “C” hereto, concurrent with the execution of this Agreement.

Interest on any amount of the Purchase Price and any other amounts owing and unpaid in accordance with the terms of this Agreement shall accrue at the rate of 8% per annum from the date hereof, calculated and compounded annually in arrears and not in advance, and interest shall accrue on overdue interest at the same rate, until payment in full of any such amounts owing and unpaid.

For the purposes of this Article 2.3, completion of commissioning of the EnWave Equipment shall occur on the date that is the earlier of: (a) the date of completion of installation of the EnWave Equipment, as determined by the Vendor, acting reasonably; (b) the date upon which the Purchaser commences commercial operation using the EnWave Equipment.

2.4 Right of Termination. In the event that the Purchaser defaults on its payment obligations pursuant to Section 2.3 or Section 3.3, the Vendor may, at its sole discretion, terminate this Agreement. Upon such termination, the Vendor may repossess the EnWave Equipment at Purchaser’s cost.

3. DELIVERY AND TITLE

3.1 Delivery. The Vendor shall arrange for delivery of the EnWave Equipment to the Purchaser at the Purchaser’s facility located at Av. Fermin Tanguis 660, Pisco, Pisco-Ica, Peru (the “Facility”) before December 31, 2026. The Purchaser may elect to receive the EnWave Equipment after three (3) months of the Effective Date of this Agreement if requested to the Vendor. If the Purchaser elects to receive the EnWave Equipment before April 1, 2026, the monthly payments outlined in the Promissory Note in Schedule C will begin on the 1st day of the following month.

3.2 Title. Notwithstanding Section 3.1, title in and to the EnWave Equipment shall be retained by the Vendor until such time as all amounts owing hereunder are paid in full to the Vendor, at which time title shall pass to the Purchaser. The Purchaser shall at all times be responsible for all costs and expenses relating to the maintenance and operation in respect of the EnWave Equipment.

3.3 Shipping Costs. The Vendor shall be responsible for all fees, rates, duties and taxes paid or payable, shipping, crating, packaging and carrier insurance costs, on a reasonable commercial basis incurred in connection with the transportation of the EnWave Equipment to the Facility. The Purchaser agrees to reimburse the Vendor for fees, rates, duties, taxes, shipping, crating, packaging and carrier insurance costs, incurred by the Vendor in connection with transportation of the EnWave Equipment to the Facility, such amount to be due to the Vendor immediately upon receipt by the Purchaser of the applicable invoice from the Vendor. Notwithstanding the foregoing, the Purchaser shall be solely responsible for ensuring that the applicable customs authority in the Purchaser’s country releases the EnWave Equipment to the Purchaser, and shall also be responsible for any fees, rates, duties or taxes in connection therewith. Purchaser agrees to pay the cost of storage by EnWave for any EnWave equipment shipment delayed by direction of the Purchaser.

3.4 Security Interest. The Purchaser hereby pledges and grants to the Vendor as collateral security for payment of the Purchase Price in full, plus interest, and all other amounts due to the Vendor hereunder and performance in full of all the obligations of the Purchaser under this Agreement, a lien on and continuing security interest in and to all of the right, title and interest of the Purchaser in, to and under the EnWave Equipment, wherever located, and whether now existing or hereafter arising or acquired from time to time, and in all accessions thereto and replacements or modifications thereof, as well as all proceeds (including insurance proceeds) of the foregoing. The security interest granted under this provision constitutes a purchase money security interest under the laws of Peru. The Vendor may, at its option, register or file any necessary statements or documents to preserve and to perfect the security interest created in favour of the Vendor in this Agreement. The Purchaser hereby acknowledges receiving a copy of this Agreement and waives all rights to receive from the Vendor a copy of any financing statement, financing change statement or verification statement filed at any time or from time to time in respect of the security interest granted herein. The Purchaser agrees to execute and deliver any documentation requested by the Vendor necessary to give effect to the foregoing. Enforcement of the security interest provided herein by the Vendor shall be at Purchaser’s cost.

The Purchaser shall bear the cost of preparing and filing the security interest described in this Section 3.4. EnWave will invoice the Purchaser for the costs incurred to prepare the security interest filings, not to exceed $2000, and such amounts shall be due and payable upon receipt by the Purchaser.

3.5 Remote Management. During the term of the License Agreement, the Vendor shall reserve the right to access, review, monitor, assess and manage the functionality and operation of the EnWave Equipment through the use of internet monitoring and management technology (“RMMT”). Among other things, RMMT allows the Vendor to monitor and/or obtain activity reports relating to the EnWave Equipment and permits the Vendor to diagnose and attempt to resolve certain operational, compliance and other issues that may arise from time to time. The RMMT software is subject to legal protection, including, in particular, copyright protection, is proprietary, and no license is granted to the Purchaser in respect of the RMMT. The Vendor has the right, but not the obligation, to utilize the RMMT in any manner it may determine from time to time in order to attempt to, among other things, address performance or operational issues relating to the EnWave Equipment, for optimization efforts, and to ensure compliance with the terms of the License Agreement and this Agreement. The Purchaser agrees that the Vendor may install any RMMT, remote access or other similar software in the EnWave Equipment, and any updates to same, at any time and from time to time during the term of the License Agreement.

3.6 Limitation of Liability. IN NO EVENT SHALL THE VENDOR BE LIABLE TO THE PURCHASER OR ANY THIRD PARTY FOR, WITHOUT LIMITATION, ANY LOSS OF USE, REVENUE OR PROFIT, INTERRUPTION OF PRODUCTION, LOSS OF OPPORTUNITY OR BUSINESS, DELIVERY DELAYS OR CLAIMS BY THE PURCHASER’S CUSTOMERS FOR SUCH DAMAGES, OR FOR ANY CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES WHETHER ARISING OUT OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE AND WHETHER OR NOT THE VENDOR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE. IN NO EVENT SHALL THE VENDOR’S AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THIS AGREEMENT, WHETHER ARISING OUT OF OR RELATED TO BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, EXCEED THE TOTAL OF THE PURCHASE PRICE PAID TO THE VENDOR FOR THE ENWAVE EQUIPMENT SOLD HEREUNDER.

4. AMENDMENT OF THE LICENSE AGREEMENT

4.1 Additional Patents. The EnWave Equipment embodies certain inventions additional to those identified in Schedule “B” to the License Agreement, in particular the inventions which are disclosed in the patents and patent applications identified in Schedule “B” hereto (collectively, the “Improvement Patents”). The License Agreement is hereby amended as follows: The Improvement Patents are deemed to be Patents under the License Agreement and included in Schedule “B” to the License Agreement.

5. REPRESENTATIONS AND WARRANTIES OF VENDOR

The Vendor represents and warrants to the Purchaser as follows, with the intent that the Purchaser shall rely on these representations and warranties in entering into this Agreement and in concluding the purchase and sale contemplated by this Agreement.

5.1 Capacity to Sell. The Vendor is a company duly organized, validly existing and in good standing under the federal laws of Canada and has the power and capacity to own and dispose of the EnWave Equipment, and to enter into this Agreement and carry out its terms.

5.2 Authority to Sell. The execution and delivery of this Agreement and the completion of the transactions contemplated by this Agreement have been duly and validly authorized by all necessary corporate action on the part of the Vendor, and this Agreement constitutes a legal, valid and binding obligation of the Vendor enforceable against the Vendor in accordance with its terms except as may be limited by laws of general application affecting the rights of creditors.

5.3 Sale Shall Not Cause Default. Neither the execution and delivery of this Agreement nor the completion of the purchase and sale contemplated by this Agreement shall violate any of the terms and provisions of the constating documents of the Vendor, or any order, decree, statute, by-law, regulation, covenant or restriction applicable to the Vendor or any of the EnWave Equipment.

5.4 Title to EnWave Equipment. The Vendor owns and possesses and has good marketable title to the EnWave Equipment free and clear of all mortgages, liens, charges, pledges, security interests, encumbrances and other claims.

5.5 Litigation. There is no litigation or administrative or governmental proceeding or inquiry pending, or to the best knowledge of the Vendor, threatened against or relating to the Vendor or the EnWave Equipment that, if determined adversely, would prohibit the Vendor from performing its obligations under this Agreement, nor does the Vendor know of any reasonable basis for any such action, proceeding or inquiry.

5.6 Conformity with Laws. All governmental licences, permits and registrations required for the manufacture of the EnWave Equipment, have been obtained and are in good standing and such conduct is not in breach of any order, decree, statute, by-law, regulation, covenant, restriction, plan or permit. For greater clarity, the foregoing representation and warranty is not provided in respect of any use of the EnWave Equipment by the Purchaser, which shall be the sole responsibility of the Purchaser.

5.7 No Warranty. Other than any warranty provided in the Equipment Purchase General Terms and Conditions, the Vendor hereby disclaims all warranties and conditions, either express or implied, including but not limited to implied warranties or conditions of merchantability, merchantable quality, fitness for a particular purpose, durability, title and any other implied warranty or condition arising by statute or custom or usage of trade. The Purchaser acknowledges that the Vendor is not liable for, among other things, if the EnWave Equipment does not meet the requirements of Purchaser or if it does not operate free of errors, uninterrupted or if the EnWave Equipment does not function, for whatever reason, in the Facility.

6. REPRESENTATIONS AND WARRANTIES OF PURCHASER

The Purchaser represents and warrants to the Vendor as follows, with the intent that the Vendor shall rely on these representations and warranties in entering into this Agreement, and in concluding the purchase and sale contemplated by this Agreement.

6.1 Status of Purchaser. The Purchaser is a corporation duly formed and validly existing under the laws of the State of Nevada, USA and, has the power and capacity to enter into this Agreement and carry out its terms.

6.2 Authority to Purchase. The execution and delivery of this Agreement and the completion of the transactions contemplated by this Agreement have been duly and validly authorized by all necessary corporate action on the part of the Purchaser, and this Agreement constitutes a legal, valid and binding obligation of the Purchaser enforceable against the Purchaser in accordance with its terms except as may be limited by laws of general application affecting the rights of creditors.

6.3 Sale Shall Not Cause Default. Neither the execution and delivery of this Agreement nor the completion of the purchase and sale contemplated by this Agreement shall violate any of the terms and provisions of the constating documents of the Purchaser, or any order, decree, statute, by-law, regulation, covenant or restriction applicable to the Purchaser or to its use of the EnWave Equipment.

6.4 Litigation. There is no litigation or administrative or governmental proceeding or inquiry pending, or to the best knowledge of the Purchaser, threatened against or relating to the Purchaser that, if determined adversely, would prohibit the Purchaser from performing its obligations under this Agreement, nor does the Purchaser know of any reasonable basis for any such action, proceeding or inquiry.

6.5 Conformity with Laws. All governmental licences, permits and registrations required for the use of the EnWave Equipment by the Purchaser, as applicable, have been obtained and are in good standing and such conduct and uses are not in breach of any order, decree, statute, by-law, regulation, covenant, restriction, plan or permit.

7. COVENANTS OF PURCHASER

7.1 Restriction on Use. The Purchaser may not use the EnWave Equipment for any purpose other than as permitted pursuant to the terms of the License Agreement. For greater certainty, the use of the EnWave Equipment by the Purchaser is subject to the terms of the License Agreement (as amended by Article 4.1 herein) and the Purchaser’s compliance with its obligations under the License Agreement.

7.2 Compliance with Law. The Purchaser shall comply with all applicable laws, regulations and ordinances. The Purchaser shall maintain in effect all the licenses, permissions, authorizations, consents and permits that it needs to carry out its obligations under this Agreement.

7.3 REV Trademark. This Agreement shall in no way be construed as providing any license by the Vendor to the Purchaser in respect of the use of the “REV” trademark.

8. INDEMNIFICATION

8.1 Indemnification by Purchaser. The Purchaser shall indemnify and hold harmless the Vendor and each director, officer, shareholder (including corporate shareholders), partner, subsidiary, affiliate, agent, servant and employee of the foregoing and the respective successors and assigns thereof (collectively, the “Indemnified Party”), from and against any and all actions, suits, claims, demands, costs, charges, expenses, liabilities, losses or damages, penalties, settlements, legal proceedings, whether civil or criminal, fines, other sanctions, disbursements, including reasonable legal and investigative fees, of whatsoever kind or nature (collectively, “Damages”) made or asserted against or incurred by any Indemnified Party, directly or indirectly, arising out of or related to any alleged claim or claim of:

For greater clarity, the indemnity obligations contained in the License Agreement shall remain in effect in accordance with the terms of the License Agreement and unmodified notwithstanding the foregoing.

9. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS

9.1 Purchaser’s Representations, Warranties and Covenants. All representations, warranties, covenants and agreements made by the Purchaser in this Agreement or under this Agreement shall be ongoing and survive any termination of this Agreement.

10. GENERAL PROVISIONS

10.1 Entire Agreement. This Agreement and the Equipment Purchase General Terms and Conditions constitute the entire agreement between the parties hereto with respect to the subject matter hereof and supersede any previous or contemporaneous oral or written agreement, negotiation, representation or understanding among the parties regarding such subject matter. Nothing in this Agreement shall be construed as a waiver or limitation of the rights and obligations of the parties hereto as set forth in the License Agreement.

10.2 Waiver and Consent. No consent or waiver, express or implied, by either party to or of any breach or default by the other of any or all of its obligations under this Agreement shall be effective unless it is in writing, nor shall it eliminate or modify the need for a specific consent or waiver in any other or subsequent instance.

10.3 Amendments. This Agreement may not be amended except by written agreement between the parties.

10.4 Assignment. Either party to this Agreement may not assign any of its rights or obligations under this Agreement without the prior written consent of the other party.

10.5 Binding Effect. This Agreement shall enure to the benefit of and be binding upon the parties and their respective successors and permitted assigns.

10.6 Time of Essence. Time shall be of the essence in this Agreement.

10.7 Further Assurances. Prior to, on and following the execution of this Agreement, each of the parties hereto agrees that it shall act in good faith with respect to the satisfaction of its obligations under this Agreement, and, at the reasonable request of the other party, shall, at its own expense, take such actions and do such things and, as the case may be, execute and deliver or furnish such additional agreements, documents and instruments as may, from time to time, be necessary or reasonably desirable to better effectuate the transactions contemplated by this Agreement.

10.8 Publication. The Purchaser agrees that EnWave may issue a press release announcing that the Purchaser and EnWave have entered into this Agreement along with any other disclosure required by applicable securities laws. EnWave agrees that it shall submit any such press release to the Purchaser for review and a reasonable opportunity to comment, subject to applicable securities law requirements.

10.9 Notices. Every notice, request, demand or communication required or permitted to be given under this Agreement shall be in writing and delivered by mail or electronically to the party which it is to be given as follows:

To the Purchaser at:

BranchOut Foods Inc.

205 SE Davis Ave, Suite C,

Bend, Oregon 97702

United States of America

Attention: Chief Executive Officer

To the Vendor at:

EnWave Corporation

Unit 1 – 1668 Derwent Way

Delta, British Columbia V3M 6R9, Canada

Attention: Chief Executive Officer

or to such other address as is specified by a party by notice to the other party given in accordance with this section 10.8. Any such notice, demand, request or direction shall be deemed to have been given and received if delivered, on the next business day after the day of delivery, and if sent electronically, on the business day of transmittal if delivered by 5:00 p.m. (local time) or the next business day if delivered thereafter.

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10.10 Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all parties had signed the same document. All counterparts will constitute one and the same agreement. This Agreement may be executed and transmitted by facsimile or email transmission and if so executed and transmitted this Agreement will be for all purposes as effective as if the parties had delivered an executed original Agreement.

IN WITNESS WHEREOF the parties hereto have duly executed this Agreement as of the day and year first written above.

SCHEDULE A

EQUIPMENT PURCHASE GENERAL TERMS AND CONDITIONS

The following terms and conditions (the “Terms and Conditions”) are incorporated into and form an integral part of the attached equipment purchase agreement (the “Purchase Agreement”, and together with the Terms and Conditions, this “Agreement”) between EnWave Corporation (the “Vendor”) and the Purchaser (as defined in the Purchase Agreement) regarding the sale of a REVTM vacuum microwave dehydration machine and any other equipment referred to in the Purchase Agreement (collectively, the “EnWave Equipment”) by the Vendor to the Purchaser. Capitalized terms referred to herein but not otherwise defined shall have the meaning ascribed thereto in the Purchase Agreement.

SCHEDULE B

EnWave Patents

SCHEDULE C

PROMISSORY NOTE

FOR VALUE RECEIVED, the undersigned BranchOut Foods Inc.(the “Borrower”) hereby promises to pay to ENWAVE CORPORATION (“EnWave”) having an address at 1668 Derwent Way, Unit #1, Delta, British Columbia, V3M 6R9, Canada, or at such address or at such other place as EnWave may from time to time designate by written notice to the Borrower, the principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00).

The Borrower will pay the outstanding amount One Million Five Hundred Thousand Dollars ($1,500,000.00) together with the interest thereon at the rate of 8% per annum from the date hereof, calculated and compounded annually in arrears and not in advance, and interest on overdue interest at such rate, until payment in full, in incremental amounts of number of twenty-four (24) equal monthly installments of $67,840.94 (excluding applicable taxes) until the principal is paid off with the first installment payable on April 1st, 2026 and each subsequent installment payable on the first day of each and every month starting thereafter, along with interest accrued at the date of each such payment, and such amounts shall, upon payment thereof, be applied to reduce the aggregate principal amount of the Promissory Note along with the interest accrued at the date of such payments, The Borrower may pay in full an unpaid portion of the Promissory Note at any time without penalty.

THE PROMISSORY NOTE is issued pursuant to an Equipment Purchase Agreement between the Borrower and EnWave of even date and is secured by the collateral described therein in accordance with the terms thereof.

THE PROMISSORY NOTE shall be governed by and construed in accordance with the laws of the Province of British Columbia.

PRESENTMENT for payment, demand, protest and notice of dishonour and protest hereof are hereby waived.

IN WITNESS WHEREOF this Promissory Note has been executed and is dates for reference the 15th day of September, 2025.

Exhibit 10.3

PROMISSORY NOTE

FOR VALUE RECEIVED, the undersigned BranchOut Foods Inc.(the “Borrower”) hereby promises to pay to ENWAVE CORPORATION (“EnWave”) having an address at 1668 Derwent Way, Unit #1, Delta, British Columbia, V3M 6R9, Canada, or at such address or at such other place as EnWave may from time to time designate by written notice to the Borrower, the principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00).

The Borrower will pay the outstanding amount One Million Five Hundred Thousand Dollars ($1,500,000.00) together with the interest thereon at the rate of 8% per annum from the date hereof, calculated and compounded annually in arrears and not in advance, and interest on overdue interest at such rate, until payment in full, in incremental amounts of number of twenty-four (24) equal monthly installments of $67,840.94 (excluding applicable taxes) until the principal is paid off with the first installment payable on April 1st, 2026 and each subsequent installment payable on the first day of each and every month starting thereafter, along with interest accrued at the date of each such payment, and such amounts shall, upon payment thereof, be applied to reduce the aggregate principal amount of the Promissory Note along with the interest accrued at the date of such payments, The Borrower may pay in full an unpaid portion of the Promissory Note at any time without penalty.

THE PROMISSORY NOTE is issued pursuant to an Equipment Purchase Agreement between the Borrower and EnWave of even date and is secured by the collateral described therein in accordance with the terms thereof.

THE PROMISSORY NOTE shall be governed by and construed in accordance with the laws of the Province of British Columbia.

PRESENTMENT for payment, demand, protest and notice of dishonour and protest hereof are hereby waived.

IN WITNESS WHEREOF this Promissory Note has been executed and is dates for reference the 15th day of September, 2025.