Exhibit 10.4


 


EXECUTIVE EMPLOYMENT AGREEMENT


 


This EXECUTIVE EMPLOYMENT AGREEMENT (this
“Agreement”) is made and entered into as of the 17th day of January, 2017 (the “Effective Date”),
and is by and between Anastasia Nyrkovskaya, an individual residing at the address listed in the Company’s files (“Executive”),
and FORM Holdings Corp., a Delaware corporation with principal offices located at 780 3rd Avenue, 12th Floor,
New York, NY 10017 (the “Company”).


 


WITNESSETH


 


WHEREAS, the
Executive desires to continue to be employed by the Company as its Chief Financial Officer ("CFO") under the terms set
forth herein and the Company wishes to continue to employ Executive in such capacity;


 


NOW, THEREFORE,
in consideration of the foregoing recitals and the respective covenants and agreements of the parties contained in this document,
the Company and Executive hereby agree as follows:


 


1.
Employment and Duties.


 


(a) Subject
to the terms of this Agreement, the Company agrees to continue to employ, and Executive agrees to continue to serve, as its
CFO. The duties and responsibilities of Executive shall include the duties and responsibilities normally associated with such
positions and such other executive officer duties and responsibilities consistent with such positions as the CEO may from
time to time reasonably assign in good faith to Executive. At all times during the Employment Period (as defined below),
the Executive shall report directly to the CEO.


 


(b)
Executive shall devote substantially all of her working time and efforts during the Company's normal business hours to the
business and affairs of the Company and its subsidiaries and to the diligent and faithful performance of the duties and
responsibilities duly assigned to him pursuant to this Agreement. Notwithstanding the foregoing, nothing herein shall
preclude Executive from (i) performing services for such other companies as the Company may designate or permit (which
permission shall not be unreasonably withheld) , (ii) serving, with the prior written consent of the Company's Board of
Directors (the "Board"), which consent shall not be unreasonably withheld, as an officer or member of the boards of
directors or advisory boards (or their equivalents in the case of a non-corporate entity) of noncompeting businesses or
charitable, educational or civic organizations, (iii) engaging in charitable activities and community affairs, and (iv)
managing Executive's personal investments and affairs; provided, however, that the activities set out in clauses (i), (ii),
(iii) and (iv) shall be limited by Executive so as not to materially interfere, individually or in the aggregate, with the
performance of Executive's duties and responsibilities hereunder.


 


2. Term.
The Company hereby agrees to employ Executive, and Executive hereby accepts employment with the Company, upon the terms set
forth in this Agreement, for the period commencing on the Effective Date and ending on the three year anniversary of the
Effective Date, unless sooner terminated in accordance with the provisions of Section 9 below (such period is the
"Employment Period"). The parties agree to commence negotiations to enter into a new employment agreement at least
twelve (12) months prior to the expiration of the Employment Period and to conclude those negotiations no later than the date
that is six (6) months prior to the expiration of the Employment Period (the "6 Month Date"). If the negotiations
are not concluded and a new agreement executed by the 6 Month Date, the Employment Period shall be extended two (2) months
for every whole or partial month that the negotiations extend past the 6 Month Date; provided, however, that the Employment
Period shall not be extended for more than one (1) year.


 






    	 



     


    

 


3.Place
of Employment. Executive’s services shall be performed at the Company’s offices located at 780 3rd
Avenue, 12th Floor, New York 10017 and any other locus where the Company and Executive mutually agree is an acceptable
location from which Executive’s services may be performed. The parties acknowledge that any location in the Borough of Manhattan,
City of New York, is an acceptable location. The parties further acknowledge, however, that Executive may be required to travel
in connection with the performance of her duties hereunder.


 


4. Compensation.


 


(a) Base
Salary. For all services to be rendered by Executive pursuant to this Agreement, the Company agrees to pay Executive during
the Employment Period an annual base salary, less applicable taxes, including income tax, FICA and FUTA, and other
appropriate deductions (the "Base Salary") at an annual rate of $375,000. During the Employment Period, the Board
has the discretion to raise the Base Salary from time-to-time and shall reevaluate the Executive's Base Salary on at least an
annual basis. The Base Salary shall be paid in periodic installments in accordance with the Company's regular payroll
practices.


 


5.
Bonuses and Incentive Compensation.


 


(a) During
the Employment Period, the Executive will be eligible to participate in any annual bonus and other incentive compensation
program that the Company may adopt from time to time for its executive officers. If the Executive has earned any bonus or
non-equity based incentive compensation (collectively, "Incentive Compensation") which remains unpaid upon
termination of Employment for any reason whether by Executive or Company other than for Cause then Executive shall be
entitled to receive such Incentive Compensation at the time the Company distributes such Incentive Compensation to other
executive officers of the Company. Such amount shall be prorated for the year of termination equal to the amount of Incentive
Compensation earned multiplied by a fraction the numerator of which the number of days that Executive worked for the Company
prior to the date of termination and the denominator of which is 365.


 


To
the extent that the Company is required pursuant to Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection
Act to develop and implement a policy (the "Policy") providing for the recovery from the Executive of any payment
of incentive based compensation (whether in cash or in equity) paid to the Executive that was based upon erroneous data
contained in an accounting statement, this Agreement shall be deemed amended and the Policy incorporated herein by reference
as of the date that the Company takes all necessary corporate action to adopt the Policy, without requiring any further
action of the Company or the Executive, provided that any such Policy shall only be binding on the Executive if the same
Policy applies to the Company's other executive officers.


 






    	 



     


    

 





(b) Notwithstanding anything to the contrary in any applicable equity award agreement, upon termination of employment
for any reason other than for Cause, the vesting of such number of stock options, RSUs and other stock-based awards outstanding
and held by the Executive as of the date of termination of Executive's employment that would have vested in the one year period
immediately following the termination of employment of Executive ("Post-Termination Period ") will vest during the Post-Termination
Period provided that in the sole discretion of the Board, during the Post-Termination Period, the Executive makes herself reasonably
available and cooperates with reasonable requests from the Company concerning any business or legal matters (including, without
limitation, response to a subpoena or testimony in any litigation matters) involving facts or events relating to the Company that
may be within the Executive's knowledge. The Company will in good faith consider Executive's obligations for other persons and/or
employers, and will take its best efforts to accommodate such obligations in connection with any such cooperation request. Upon
submission of invoices, the Company will reimburse the Executive for reasonable expenses (including, but not limited to, legal
fees and travel) incurred in carrying out the provisions of this paragraph. The Executive will provide the Company with reasonable
advance written notice prior to incurring any expenses in excess of $2500. Without limiting the foregoing, if Executive is not
receiving Severance Benefit during the Post-Termination Period, then the Company will pay the Executive additional compensation,
in such amount and form as the parties reasonably agree, in connection with any cooperation request by the Company of the Executive
which is reasonably expected to exceed five hours in the aggregate (including for this purposes time spent in connection with any
prior cooperation requests).


 


(c) In
addition, subject to any permitted action by the Board upon a Change of Control or other merger, sale, dissolution or
liquidation of the Company under the Company's applicable equity plan to terminate the stock options or other stock-based
awards, any stock option granted on or after the Effective Date, which has vested, shall be exercisable for not less than one
year from the date of termination of Executive's employment (subject to the scheduled expiration of any option) and if such
option is an incentive stock option it shall automatically convert and be deemed a non-qualified option as of the date that
is three months from termination of Executive's employment. As used in this Agreement, "Change of Control" shall
have the meaning set forth in the Company's 2012 Employee, Director and Consultant Equity Incentive Plan.


 


6.Expenses.
Executive shall be entitled to reimbursement for all reasonable and appropriate travel, entertainment, and other expenses incurred
by Executive while employed (in accordance with the policies and procedures established by the Company for its executive officers)
in the performance of her duties and responsibilities under this Agreement; provided that Executive properly accounts for such
expenses in accordance with Company policies and procedures. The Company shall cause a credit card to be issued to Executive to
be used by the Executive solely to pay for travel and entertainment expenditures reasonably necessary for the performance of her
duties and Company and otherwise in accordance with written policies and procedures approved by the Board, but use of such credit
card is not a condition for reimbursement. The Executive shall be responsible for any unreasonable or inappropriate expenses incurred
in violation of Company policies and procedures.


 


7.Other
Benefits. During the Employment Period, the Executive shall be eligible to participate in all incentive, savings,
retirement (401(k)), and welfare benefit plans, health, medical, dental, vision, life (including accidental death and
dismemberment) and disability insurance plans (collectively, to the extent they exist, "Benefit Plans"), in
substantially the same manner and at substantially the same levels as the Company makes such opportunities available to the
Company's executive officers, provided however, that the Company may not reduce the benefits provided to the Executive under
these Benefits Plans without the Executive's written consent.


 






    	 



     


    

 


8.Vacation.
During the Employment Period, the Executive shall be entitled to twenty (20) days of paid time off ("PTO") per
year. PTO shall be taken at such times as are mutually convenient to the Executive and the Company. The Executive may carry up
to ten (10) days of unused PTO forward from one calendar year to the next. All other unused PTO will be forfeited at the end of
the calendar year. The Company shall not pay executive for any unused PTO upon termination of employment except as required by
applicable law or provided under Company policy.


 


9. Termination
of Employment.


 


(a)General.
The Employment Period and the Executive's employment hereunder shall terminate upon the earliest to occur of: (i) Executive's
death, (ii) a termination by reason of Executive's Disability, (iii) a termination by the Company with or without Cause, (iv) a
termination by Executive with or without Good Reason, or (v) the last day of the Employment Period. Notwithstanding anything herein
to the contrary, the payment (or commencement of a series of payments) hereunder of any nonqualified deferred compensation (within
the meaning of Section 409A of the Internal Revenue Code, (the "Code")) upon a termination of employment shall be delayed
until such time as Executive has also undergone a "separation from service" as defined in Treas. Reg. 1.409A-1(h), at
which time such nonqualified deferred compensation (calculated as of the date of Executive's termination of employment hereunder)
shall be paid (or commence to be paid) to Executive on the schedule set forth in this Section 9 as if Executive had undergone such
termination of employment (under the same circumstances) on the date of Executive's ultimate "separation from service."


 


(b)Death.
If Executive dies during the Employment Period, this Agreement and the Executive's employment with the Company shall automatically
terminate and the Company shall have no further obligations to the Executive or her heirs, administrators or executors with respect
to compensation and benefits accruing thereafter, except for the obligation to pay to the Executive's heirs, administrators or
executors (i) any earned but unpaid Base Salary up to and through the date of termination (within fourteen (14) days following
termination), (ii) any earned but unpaid Incentive Compensation under the terms set forth in Section 5(a); (iii) any and all reasonable
expenses paid or incurred by the Executive in connection with and related to the performance of her duties and responsibilities
for the Company up to and through the date of termination , and (iv) any benefits provided under the Company's employee benefit
plans pursuant to, and in accordance with, the terms of such plans through the date of termination (including, without limitation,
any death benefit or disability benefit plans or programs) (collectively, the "Accrued Obligations"). The Company shall
deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions.


 


(c)Disability.
In the event that during the Employment Period the Company determines that the Executive is unable to perform her
essential duties and responsibilities hereunder to the full extent required by the Company by reason of a Disability (as
defined below), this Agreement and the Executive's employment with the Company shall terminate immediately upon notice to the
Executive, and the Company shall have no further obligations or liability to the Executive or her heirs, administrators or
executors with respect to compensation and benefits accruing thereafter, except for the obligation to pay the Accrued
Obligations. The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and
FUTA, and other appropriate deductions. For purposes of this Agreement, "Disability" shall mean a physical or
mental disability that prevents the performance by the Executive, with or without reasonable accommodation, of her essential
duties and responsibilities hereunder for ninety (90) consecutive days, or an aggregate of one hundred and eighty (180) days
during any twelve consecutive months, as determined consistent with applicable law, provided that the determination of
Executive's physical or mental health and the date of the Disability shall be determined by a medical expert who will examine
the Executive as appointed by mutual agreement between the Company and the Executive, which agreement shall not be
unreasonably withheld or delayed by either party. Executive hereby consents to such examination and consultation regarding
Executive's health and ability to perform as aforesaid.


 






    	 



     


    

 


(d) By
the Company for Cause.


 


(1) At any time during the Employment Period, the Company may terminate this Agreement and the Executive's employment
hereunder for Cause. Such termination shall be effective immediately upon notice to the Executive. "Cause" as used in
this Agreement (and with respect to any other arrangement (including, without limitation, any option, RSU or other equity-based
arrangement) with the Company or its affiliates) shall mean: (a) through no fault of the officers of the Company and/or the Board
, the willful and continued failure of the Executive to perform substantially her duties and responsibilities for the Company (other
than any such failure resulting from Executive's death or Disability) after a written demand by the Board for substantial performance
is delivered to the Executive by the Company, which specifically identifies the manner in which the Board believes that the Executive
has not substantially performed her duties and responsibilities, which willful and continued failure is not cured by the Executive
within thirty (30) days of her receipt of such written demand; (b) the conviction of, or plea of guilty or nolo contendere to a
felony, (c) intentional breach of Section 10 of this Agreement, (d) an intentional breach of the Non- Disclosure and Non-Solicitation
Agreement then in effect (the "NDA") which results or could reasonably be expected to result in harm to the Company;
or (e) a unanimous good faith finding by the Board that Executive has engaged in (i)(A) fraud, (B) dishonesty, or (C) gross negligence,
in each case related to the Company or (ii) criminal misconduct which results or could reasonably be expected to result in harm
to the Company, which, if curable, has not been cured by Executive within thirty (30) days after her receipt of a written notice
from the Board stating with reasonable specificity the basis of such finding.


 


(2) Upon termination of this Agreement for Cause, the Company shall have no further obligations or liability to the Executive
or her heirs, administrators or executors with respect to compensation and benefits thereafter, except for the obligation to pay
the Executive the Accrued Obligations. The Company shall deduct, from all payments made hereunder, all applicable taxes, including
income tax, FICA and FUTA, and other appropriate deductions.


 


(3) It is expressly acknowledged and agreed that the decision as to whether "Cause" exists for termination
of the employment relationship by the Company is delegated to the Board for determination.


 






    	 



     


    

 


(e) By
the Executive for Good Reason.





 


(1) At
any time during the Employment Period, subject to the conditions set forth in Section 9(e)(2) below, the Executive may
terminate this Agreement and the Executive's employment with the Company for Good Reason. "Good Reason" as used in
this Agreement shall mean the occurrence of any of the following events: (a) the assignment, without the Executive's prior
written consent, to the Executive of duties that result in a material diminution of the duties, authorities or
responsibilities of the Executive; (b) the change, without the Executive's prior written consent, to the Executive's position
or the Executive's title that is subordinate to the title of CFO; (c) a reduction in Executive's Base Salary; (d) the
Company's requirement that Executive regularly report to work in a location that is more than 50 miles from the Company's
current New York office as of the date of this Agreement , without the Executive's prior written consent; (e) a change in
Executive's reporting relationship other than to the CEO; (f) a material breach by the Company of this Agreement or RSU or
options grants; or (g) the failure of the Company to provide compensation, including Base Salary, Incentive Compensation (if
any) and benefits to Executive as required herein when due.


 


(2)
The Executive shall not be entitled to terminate this Agreement for Good Reason unless and until he shall have delivered
written notice to the Company of her intention to terminate this Agreement and her employment with the Company for Good Reason,
which notice specifies in reasonable detail the circumstances claimed to provide the basis for such termination for Good Reason,
and the Company shall not have eliminated the circumstances constituting Good Reason within thirty (30) days of its receipt from
the Executive of such written notice. The Company shall retain the discretion to terminate the Employment Period at any time during
the Good Reason notice period provided for in this Section 9(e)(2).


 


(3) In the event that the Executive terminates this Agreement and her employment with the Company for Good Reason, the
Company shall pay or provide to the Executive (or, following her death, to the Executive's heirs, administrators or executors):


 


(A)
The Accrued Obligations through the date the Employment Period is terminated.


 


(B) An amount of Base Salary (at the rate of Base Salary in effect immediately prior to the Executive's termination hereunder)
equal to one (1) times the Executive's Base Salary. Except as otherwise provided in this Agreement, the Company shall pay to Executive
the amounts provided in this Section 9(e)(3)(B) (the "Severance Benefit") in substantially equal installments commencing
on the Company's next regular payroll date following the date the Release (referenced in Section 9(i) below) becomes irrevocable
and enforceable, provided, however, that if the ninety (90) day period referenced in Section 9(i) below begins in one calendar
year and ends in the following calendar year, the Company shall pay to Executive the amounts provided in this Section 9(e)(3)(B)
in substantially equal installments commencing on the Company's first eligible regular payroll date occurring in the following
calendar year. The Company shall deduct, from all payments made hereunder, all applicable taxes, including income tax, FICA and
FUTA, and other appropriate deductions.


 






    	 



     


    

 


(C) Subject
to Section 9(i) below, COBRA continuation coverage paid in full by the Company, so long as Executive has not become actually
covered by the medical plan of a subsequent employer during any such month and is otherwise entitled to COBRA continuation
coverage, with such payments for up to a maximum of twelve (12) months following the date of termination. After such period,
Executive is responsible for paying the full cost for any additional COBRA continuation coverage to which Executive is then
entitled. If the Company's payment of the COBRA premiums on the Executive's behalf would violate the nondiscrimination
rules or cause the reimbursement of claims to be taxable under the Patient Protection and Affordable Care Act of 2010,
together with the Health Care and Education Reconciliation Act of 2010 (collectively, the "Act") or Section 105(h)
of the Code, the Company paid premiums shall be treated as taxable payments and be subject to imputed income tax treatment to
the extent necessary to eliminate any discriminatory treatment or taxation under the Act or Section 105(h) of the Code.


 


(f) By
Executive without Good Reason. At any time during the Employment Period, the Executive shall be entitled to terminate this
Agreement and the Executive's employment with the Company without Good Reason by providing prior written notice to the Company
of at least ninety (90) calendar days, provided however that the Company shall maintain the discretion to terminate the Employment
Period at any time during the notice period set forth in this Section 9(t). Upon termination by the Executive of this Agreement
and the Executive's employment with the Company without Good Reason, the Company shall have no further obligations or liability
to the Executive or her heirs, administrators or executors with respect to compensation and benefits thereafter, except for the
obligation to pay the Executive the Accrued Obligations. The Company shall deduct, from all payments made hereunder, all applicable
taxes, including income tax, FICA and FUTA, and other appropriate deductions.


 


(g)By
the Company without Cause. At any time during the Employment Period, the Company shall be entitled to terminate this Agreement
and the Executive's employment with the Company without Cause upon written notice to the Executive which shall set forth a date
of termination . Upon termination by the Company of this Agreement and the Executive's employment with the Company without Cause,
the Company shall pay or provide to the Executive (or, following her death, to the Executive's heirs, administrators or executors)
the amounts and benefits due upon a resignation for Good Reason, as further described in Section 9(e)(3). The Company shall deduct,
from all payments made hereunder, all applicable taxes, including income tax, FICA and FUTA, and other appropriate deductions.


 


(h)Upon
Expiration of the Employment Period. If the Executive's employment terminates upon the expiration of the Employment Period
set forth in Section 1, the Company shall have no further obligations or liability to the Executive or her heirs, administrators
or executors with respect to compensation and benefits thereafter, except for the obligation to pay the Executive the Accrued Obligations.


 


(i)Release
of Claims. It is agreed that an express condition of the payment or provision by the Company of any severance amount
or post termination benefit called for under Section 9(e)(3) and Section 9(g) of this Agreement (other than the payment of
any Accrued Obligations) shall be subject to the Company's concurrent receipt of a general release of all claims against the
Company and its affiliates by Executive in the form reasonably acceptable to the Company and Executive, and such release must
be effective and irrevocable prior to the ninetieth (90th) day following the termination of the Executive's employment (the
"Release"). Any payments scheduled to be paid under Sections 9(e)(3) or 9(g) during such 90 day period pending the
effectiveness of such Release, will be accumulated and paid, subject to Section 9(j) below, on such 901h day or earlier
following the effectiveness of such Release as would not result in a violation of Code Section 409A.


 






    	 



     


    

 


(g) Additional Section 409A Provisions. Notwithstanding any provision in this Agreement to the contrary:


 


(1) Any payment otherwise required to be made hereunder to Executive at any date as a result of the termination of Executive's
employment that constitutes nonqualified deferred compensation subject to Section 409A of the Code shall be delayed for such period
of time as may be necessary to meet the requirements of Section 409A(a) (2)(B)(i) of the Code (the "Delay Period"). On
the first business day following the expiration of the Delay Period, Executive shall be paid, in a single cash lump sum, an amount
equal to the aggregate amount of all payments delayed pursuant to the preceding sentence, and any remaining payments not so delayed
shall continue to be paid pursuant to the payment schedule set forth herein.


 


(2) Each payment in a series of payments hereunder shall be deemed to be a separate payment for purposes of Section 409A
of the Code.


 


(3)
To the extent that any right to reimbursement of expenses or payment of any benefit in-kind under this Agreement constitutes nonqualified
deferred compensation (within the meaning of Section 409A of the Code), (i) any such expense reimbursement shall be made by the
Company no later than the last day of the taxable year following the taxable year in which such expense was incurred by Executive,
(ii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (iii)
the amount of expenses eligible for reimbursement or in-kind benefits provided during any taxable year shall not affect the expenses
eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided , that the foregoing clause shall
not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such
expenses are subject to a limit related to the period the arrangement is in effect.


 


10. Covenant
Not to Compete.


 


(a) The
Executive recognizes that the services to be performed by him hereunder are special, unique and extraordinary. The parties confirm
that it is reasonably necessary for the protection of the Company that the Executive agree, and accordingly, the Executive does
hereby agree, that, he shall not, directly or indirectly, at any time during the "Restricted Period" within the "Restricted
Area" engage in any "Restricted Business Activity" (as those terms are defined in Sections 1O(b), (c) and (d) below).
In the event of any inconsistencies between the terms of this Agreement and the NOA, this Agreement shall control.


 


(b) The term "Restricted Business Activity" as used in this Section 10, means that the Executive shall not,
directly or indirectly:


 


(1)
provide services, either on her own behalf or as an officer, director, partner, consultant, associate, employee, owner,
agent, independent contractor, or coventurer of any third party that sells products or services that are directly competitive
with the products or services sold by the Company during the Employment Period; or


 






    	 



     


    

 


(2)
solicit any material commercial relationships of the Company, other than in the furtherance of the business of the Company during
the Employment Period;


 


provided however,
that Restricted Business Activity shall not be construed to prevent and this Agreement shall not prevent the Executive from (i)
owning, directly or indirectly, in the aggregate, an amount not exceeding two percent (2%) of the issued and outstanding voting
securities of any class of any company whose voting capital stock is traded or listed on a national securities exchange or in the
over-the-counter market; or (ii) soliciting any material commercial relationships of the Company for the purpose of selling products
or providing services that are not the same or substantially similar to the products or services sold by the Company during the
Employment Period.


 


(c) The term "Restricted Period," as used in this Section 10, shall mean during the Employment Period and (i)
in the case of termination by the Executive for Good Reason or by the Company without Cause, so long as the Executive is paid the
Severance Benefit by the Company under Sections 9(e) or 9(g) or (ii) in the case of termination by the Executive without Good Reason,
by the Company for Cause or upon expiration of the Agreement under Section 2, one (I) year after the date the Executive is actually
no longer employed by the Company. Notwithstanding the foregoing, waiver of any Restricted Period by the Company shall not waive
the Executive's entitlement to the Severance Benefit.


 


(d)
The term "Restricted Area" as used in this Section 10 shall mean worldwide.


 


(e)
If any of the restrictions contained in this Section 10 shall be deemed to be unenforceable by reason of the extent, duration
or geographical scope thereof, or otherwise, then the court making such determination shall have the right to reduce such extent,
duration, geographical scope, or other provisions hereof, and in its reduced form this Section shall then be enforceable in the
manner contemplated hereby.


 


(f) The
provisions of this Section 10 shall survive the termination of the Executive's employment hereunder and until the end of the
Restricted Period.


 


11. Dispute
Resolution.


 


(a) In
the event of a breach or anticipated breach of the Agreement by either Party, the non-breaching Party shall inform the breaching
Party by letter of the suspected or anticipated breach. The breaching Party shall have ten (10) days to cure said breach, if curable.
In the event the breach has not been cured within ten (10) days, if curable, then the non-breaching Party may pursue arbitration
as described below.


 


(b) Any
dispute arising between the Parties under this Agreement, shall be submitted exclusively to binding arbitration before the
American Arbitration Association ("AAA") for resolution. Such arbitration shall be conducted in New York, New York,
and the arbitrator will apply New York law, including federal law as applied in New York courts. The arbitration shall be
conducted in accordance with AAA Employment Arbitration Rules as modified herein. The arbitration shall be conducted by a
single arbitrator and the award of the arbitrator shall be final and binding on the parties, and judgment on the award may be
confirmed and entered in any state or federal court in the State and City of New York. The arbitration shall be conducted on
a strictly confidential basis, and the Parties shall not disclose the existence of a claim, the nature of a claim, any
documents, exhibits, or information exchanged or presented in connection with such a claim, or the result of any action
(collectively, "Arbitration Materials") to any third party, with the sole exception of their respective legal
counsel, who also shall be bound by these confidentiality terms. Nothing herein shall prevent either Party from seeking or
obtaining an injunction in aid of arbitration.


 






    	 



     


    

 


(d)
In the event of any court proceeding to challenge or enforce an arbitrator's award, the parties hereby consent to the exclusive
jurisdiction of the state and federal courts in New York, New York and agree to venue in that jurisdiction. Each Party hereby
irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by
delivering a copy thereof to such Party in accordance with the notice provisions of Section 12 below. The Parties agree to take
all steps necessary to protect the confidentiality of all confidential information, including the Arbitration Materials, in connection
with any such proceeding, agree to file all confidential information under seal, and agree to the entry of an appropriate protective
order.


 


12.       Miscellaneous.


 


(a) The
Executive acknowledges that the services to be rendered by him under the provisions of this Agreement are of a special, unique
and extraordinary character and that it would be difficult or impossible to replace such services. Furthermore, the parties acknowledge
that monetary damages alone would not be an adequate remedy for any breach by the Executive of this Agreement. Accordingly, the
Executive agrees that any breach or threatened breach by him of this Agreement shall entitle the Company, in addition to all other
legal remedies available to it, to apply to any court of competent jurisdiction to seek to enjoin such breach or threatened breach.
The parties understand and intend that each restriction agreed to by the Executive hereinabove shall be construed as separable
and divisible from every other restriction, that the unenforceability of any restriction shall not limit the enforceability, in
whole or in part, of any other restriction, and that one or more or all of such restrictions may be enforced in whole or in part
as the circumstances warrant. In the event that any restriction in this Agreement is more restrictive than permitted by law in
the jurisdiction in which the Company seeks enforcement thereof, such restriction shall be limited to the extent permitted by law.
The remedy of injunctive relief herein set forth shall be in addition to, and not in lieu of, any other rights or remedies that
the Company may have at law or in equity.


 


(b) The
Executive may not assign or delegate any of her rights or duties under this Agreement without the express written consent of the
Company. The Company will require any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to
all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in
the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.
As used in this Agreement, the "Company" shall mean the Company as hereinbefore defined and any successor to its business
and/or assets as aforesaid which executes and delivers the agreement provided for in this subsection (b) or which otherwise becomes
bound by all of the terms and provisions of this Agreement by operation of law.


 






    	 



     


    

 


(c) This
Agreement, together with the NDA and any indemnification agreement, equity plan, stock option agreement, restricted stock unit
agreement or other stock agreement to which plaintiff is a party or otherwise subject to, constitutes and embodies the full and
complete understanding and agreement of the parties with respect to the Executive's employment by the Company, and supersedes all
prior understandings and agreements, whether oral or written, between the Executive and the Company, and shall not be amended,
modified or changed except by an instrument in writing executed by the party to be charged. The invalidity or partial invalidity
of one or more provisions of this Agreement shall not invalidate any other provision of this Agreement. No waiver by either party
of any provision or condition to be performed shall be deemed a waiver of similar or dissimilar provisions or conditions at the
same time or any prior or subsequent time.


 


(d) Executive
acknowledges that he has had the opportunity to be represented by separate independent counsel in the negotiation of this Agreement,
has consulted with her attorney of choice, or voluntarily chose not to do so, concerning the execution and meaning of this Agreement,
and has read this Agreement and fully understands the terms hereof, and is executing the same of her own free will. Executive warrants
and represents that he has had sufficient time to consider whether to enter into this Agreement and that he is relying solely on
her own judgment and the advice of her own counsel, if any, in deciding to execute this Agreement.


 


(e) This
Agreement shall inure to the benefit of, be binding upon and enforceable against, the parties hereto and their respective successors,
heirs, beneficiaries and permitted assigns.


 


(f) If
this Agreement or the Employment Period is terminated for any reason, the NDA and Sections 9 and 10 shall survive termination of
this Agreement.


 


(g) The
headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or interpretation
of this Agreement.


 


(h) All
notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall be
deemed to have been duly given when personally delivered, sent by registered or certified mail, return receipt requested, postage
prepaid, or by reputable national overnight delivery service (e.g. FedEx) for overnight delivery to the party at the address set
forth in the preamble to this Agreement, or to such other address as either party may hereafter give the other party notice of
in accordance with the provisions hereof. Notices shall be deemed given on the sooner of the date actually received or the third
business day after deposited in the mail or one business day after deposited with an overnight delivery service for overnight delivery.


 


(i) This
Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without reference to
principles of conflicts of laws.


 


(j) This
Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one of the same instrument. The parties hereto have executed this Agreement as of the date set forth
above.


 


(k) Each
Party will pay its own costs and expenses related to the transactions contemplated by this Agreement.


 


*       *       *


 






    	 



     


    

 





[Signature Page to Executive Employment Agreement
]


 


IN WITNESS WHEREOF, the Executive
and the Company have caused this Executive Employment Agreement to be executed as of the date first above written.


 


 


 


_________________________


Anastasia Nyrkovskaya


 


 


FORM HOLDINGS CORP.


 


 


By: _____________________


Name: Andrew Perlman


Title: CEO