Exhibit 10.2
 
SECOND AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

THIS SECOND AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT (“Amendment”), effective
as of February 12, 2016 (“Effective Date”), is entered into by and between
Stephen Morgan (the “Employee”), and Cord Blood America, Inc., a Florida
corporation (the “Company”). The Employee and the Company may be referred to
collectively herein as the “Parties.”

WHEREAS, Employee and the Company previously entered into that certain Executive
Employment Agreement with an effective date of April 1, 2015 (the “Original
Agreement”), as amended by that certain Amendment to Executive Employment
Agreement with an effective date of April 9, 2015 (the “First Amendment” and,
collectively with the Original Agreement, the “Agreement”), which by its terms
may be amended in writing by the parties thereto; and

WHEREAS, the Parties desire to amend certain provisions of the Agreement, as
more particularly set forth herein.

           NOW, THEREFORE, in consideration of the foregoing and mutual promises
made herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. Defined Terms. Any capitalized term used but not defined in this Amendment
shall have the meaning given to such term in the Original Agreement.

2. Interim President. The Board of Directors of the Company (the “Board”) has
appointed Employee as the Interim President for the period beginning on the
Effective Date and terminating at any time upon three (3) days’ notice by the
Company or as otherwise provided for in the Agreement (the “Interim Term”). In
connection with such position, Employee shall be responsible for management
functions generally associated with individuals in the position of president of
a company and such other tasks and duties as may be requested by the Board.
Employee agrees that he shall render these additional duties diligently and
competently and to the best of his ability and expertise. During the Interim
Term, Employee shall be paid an additional $5,000 per year in salary, payable in
accordance with the Company’s standard accounting practices, provided that
payments are made at least semi-monthly. Any performance or compensation reviews
shall be handled in the same manner as provided for in the Agreement. Other than
the $5,000 increase in his salary, Employee shall not be entitled to any
additional compensation, equity or bonus payments as result of this position.
Furthermore, the $5,000 per year increase in Employee’s salary shall not be
included in any severance calculations under the Agreement, including without
limitation, the severance calculations set forth in Sections 5(e) and 5(f) of
the Original Agreement. Upon termination of the Interim Term for any reason,
Employee’s employment, duties and salary shall revert back to what they were
prior to this Amendment and such termination of the Interim Term shall in no way
constitute an actual or constructive termination without Cause or breach of the
Company’s obligations under the Agreement in any way.
 
 
 

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3. No Other Amendments.  Except as expressly amended, modified and supplemented
as set forth herein, the provisions of the Agreement will remain in full force
and effect and, except as expressly provided herein, nothing in this Amendment
will be construed as a waiver of any of the rights or obligations of the Parties
thereunder.

4. Governing Law.  This Amendment shall be governed by and construed in
accordance with the law of the State of Nevada.

5. Descriptive Headings.  Descriptive headings are for convenience only and will
not control or affect the meaning or construction of any provisions of this
Amendment.

6. Counterparts.  This Amendment may be executed in any number of identical
counterparts, each of which will constitute an original but all of which when
taken together will constitute but one instrument. Facsimile or email signatures
shall be given the same force and effect as original signatures.

7. Severability.  In the event one or more of the provisions of this Amendment
should, for any reason, be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality, or unenforceability shall not affect any
other provisions of this Amendment, and this Amendment shall be construed as if
such invalid, illegal or unenforceable provision had never been contained
herein.

REMAINDER OF PAGE INTENTIONALLY BLANK

 
 

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IN WITNESS WHEREOF, the Parties have executed, or caused their duly authorized
representatives to execute, this Amendment as of the Effective Date.

COMPANY:

Cord Blood America, Inc.

By: ______________________________________
 
Print Name: ________________________________  

 
Title: _____________________________________

EMPLOYEE:

By: ______________________________________   
       Stephen Morgan
 
 
 
 

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