EMPLOYMENT
AGREEMENT


 


This
Employment Agreement (“Agreement”) dated January 31, 2017 with an effective date of January
2, 2017, is by and between Realbiz Media Group, Inc., a Delaware Corporation (the “Company”), and
Anshu Bhatnagar (the “Executive”). The Company and the Executive are referred to each
individually as a “Party” and collectively as the “Parties.


 


WHEREAS,
the Company desires to employ and retain the Executive for the term specified herein, to advance the business and
interests of the Company on the terms and conditions set forth herein; and


 


WHEREAS,
the Executive wishes to be employed by the Company and desires to provide his services to the Company in
such capacities and subject to the terms and conditions hereof.


 


NOW,
THEREFORE, in consideration of the mutual promises, covenants and agreements contained herein, and intending to be legally
bound hereby, the Company and the Executive do hereby agree as follows:


 


AGREEMENT


 


1.       Adoption
of Recitals. The Company and Executive hereto adopt the above recitals as being true and correct.


 


2.       Employment.


 


(a)       The
term of employment with the Company shall commence on January 2, 2017 (“Effective Date”) and
shall expire on December 31, 2021 (“Employment Period”), unless terminated pursuant to other clauses
in this Agreement.


 


(b)       The
Agreement expires on December 31, 2021 unless the Parties agree, in writing, to extend this Agreement.
If the Agreement is not renewed in writing, the non-renewal is not considered a Termination (as defined below), and the
Executive is not entitled to any compensation, as set forth in Section 6, that becomes effective if the Agreement
is terminated.


 


3.       Position
and Duties.


 


(a)       The
Executive, during the Employment Period hereunder, shall serve as the Chief Executive Officer and Director for the
Company. The Chief Executive Officer shall be responsible for establishing alongside the CFO and Board of Directors the
goals and strategies and presiding over the entire Company. The Chief Executive Officer shall oversee the budgets of the
parent company and ensure that resources are properly allocated. The Chief Executive Officer shall bear equal responsibility for
overall accountability to shareholders and the general public with the CFO and Board of Directors. The specific duties of the
Chief Executive Officer of the Company are:


 




    	 



     


    

 


i.       Meet
with Board of Directors and other executives to determine if Company is in accordance with goals and policies.


 


ii.       Oversee
budgets.


 


iii.       Alongside
the CFO and under the direction of the Board of Directors, direct the organization’s financial goals, objectives, and budgets.


 


iv.       Implement
the organization’s guidelines on a day-to-day basis.


 


v.       Hire,
train, and terminate employees, according to proper human resources methodologies.


 


vi.       Collaborate
with the Board of Directors to develop the policies and direction of the organization.


 


vii.       Develop
and maintain relationships with other associations, industry, and government officials that are in the best interest of the Company.


 


viii.       Provide
adequate and timely information to the Board to enable it to effectively execute its oversight role.


 


ix.       With
respect to his position as Chief Executive Officer of the Company, the Executive will report to the Chairman or
his designee. The Executive’s authority is subject to approval by the Board.


 


x.       The
Executive agrees to serve the Company faithfully, conscientiously and to the best of his ability, so as to promote
the profit, benefit and advantage of the Company and, if applicable, any subsidiaries or affiliates of the Company.
The Executive shall fulfill his duties of loyalty, fidelity and allegiance to act at all times in the best interests of
the Company and to do no act knowingly which would injure the business, interests or reputation of the Company.
The Executive’s employment is subject to compliance with all the Company’s policies, all as may be amended
from time to time.


 


4.       Obligations
of the Company.


 


(a)       In
addition to the requirements set forth in this Agreement, the Company shall provide Executive with compensation,
incentives, benefits and business expense reimbursements specified elsewhere in this Agreement.


 


(b)       In
addition to the requirements set forth in this Agreement, the Company shall provide Executive with the tools
and utilities for an office, if Executive so requests, as well as supplies and other facilities and services suitable to
Executive’s position, and adequate for the performance of his duties.


 




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5.       Compensation
and Related Matters.


 


The
Executive shall receive five or more forms of compensation, described in this Section 5, to include: cash-based base
salary; stock-based base salary; annual cash-based bonus; annual grants of restricted common stock; and
the opportunity to participate in any of the Company’s equity option plans, if applicable. In addition, the
Executive is entitled to receive Fringe benefits as described in this Section 5. The award of stock pursuant to this Agreement
is intended to be an allocation of the stock the Company is obligated to issue to Executive pursuant to that
certain Amended and Restated Agreement by and between the Company, Executive, and Alex Aliksanyan dated January
2, 2017.


 


(a)       Cash
Based Base Salary. During the Employment Period, the Company shall pay to the Executive an annual
cash based base salary (“Base Salary”) of One Hundred Seventy Five Thousand Dollars per annum (US
$175,000) payable by the Company and payable in accordance with the Company’s payroll schedules throughout
the Employment Period, subject to the provisions of Section 6 hereof (governing Terminations), and subject to any applicable
tax and payroll deductions; provided, however, that in the Company’s sole discretion, based on factors such
as the market and the Executive’s job performance, the Executive may receive an increase in base salary. There, however,
no guarantee of an increase in Base Salary. Salary decreases only may be made through a written modification of this Agreement
executed and signed by the Parties. All payments to Executive hereunder shall be made in accordance with the
Company’s customary practices and procedures, all of which shall be in conformity with applicable federal, state
and local laws and regulations.


 


(b)       Stock
Based Base Salary. All share amounts are stated post-split, assuming the effectiveness of a pending 1-for-200 reverse
stock split of the Company’s outstanding common stock, $0.001 par value per share (the “Common Stock”).
For each $1 million in revenue generated by the Company, Executive shall be granted a warrant to purchase Thirty
Seven Thousand Five Hundred (37,500) shares of the Company’s Common Stock, until such time as the Executive owns twenty
percent (20%) of the then-outstanding shares of Common Stock. The exercise price for the warrants issued under this provision
shall be $1.20 per share (post-split). The warrants issued under this provision are in addition to any warrants granted
to Executive upon his initial hiring by the Company.


 


(c)       Annual
Cash Based Bonus.


 


(i)       In
years when the Company is financially successful, at the sole discretion of the Board, the Board may award the Executive
a bonus (“Annual Cash Based Bonus”) that reflects and rewards the contributions of the Executive
to the Company’s business and success.


 




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(ii)       Based
upon the Executives performance toward the achievement of agreed upon performance criteria, the Board may award Executive
a bonus. The Executive’s bonus target for his Annual Cash Basis Bonus is anticipated to be established
by the Board of Directors, in consultation with Executive, and reviewed quarterly. The bonus earned and paid to Executive
shall be by measuring the success with which the Executive has met performance criteria as established by the Board
of Directors. The bonus may be paid at such time and in such amounts as determined by the Board of Directors; provided, that the
actual bonus target for any year shall be determined by the Board in its sole discretion and shall be comparable with the bonus
targets established for peer executive officers of the Company. The Board and the CEO of the Company, in
their sole discretion, may amend the terms of the annual incentive plan at any time, in which case they will communicate the amended
terms to the Executive within a reasonable time. Annual Cash Based Bonuses are not deemed earned and accrued until
approved by the Company’s Board of Directors.


 


(iii)       Except
as set forth in this Agreement, Annual Cash Based Bonuses that are not earned and accrued are deemed waived if the Executive’s
employment is terminated for any reason prior to the Board awarding the Annual Cash Basis Bonus.


 


(d)       Annual
Grants of Restricted Common Stock


 


(i)       In
years when the Company is financially successful, the Company may, in its sole discretion, award the Executive
a stock-based bonus (“Stock Bonus”) that reflects and rewards the contributions of the Executive
to the Company’s business and success. The Stock Bonus may be in the form of Executive’s ability
to exercise his warrants pursuant to Section 5(d)(ii).


 


(ii)       After
January 1, 2018, the Executive shall receive warrants to acquire 3% of the outstanding Common Stock of the Company
at the beginning of each calendar year.


 


(e)       Intentionally
Omitted.


 


(f)       Equity
Option Plan(s). Executive shall have the opportunity to participate in the Company’s equity incentive option
plans, at the Board’s discretion, should the Company adopt any such plans.


 


(g)       Other
Benefits. During the Employment Period, the Executive shall be entitled to participate in such employee
benefit plans, programs or arrangements implemented by the Company and available to executive officers of the Company
including, but not limited to, medical, dental, short term disability, long term disability, and life insurance (collectively
the “Plans”). The Company shall have the right, from time to time and in its sole discretion,
to modify and amend the Plans.


 


(h)       Fringe
Benefits.


 


(i)       Vacation.
Executive shall be entitled to four (4) weeks (20 business days) of vacation time each year with full pay. The time for such
vacation shall be requested by Executive, subject to the Company’s reasonable approval. If Executive
is unable for any reason to take the total amount of authorized vacation during any year, he may accrue the time. The Company
will cash-out out the unused vacation leave at the end of each calendar year and pay Executive the value of the unused
vacation leave by March 10 of the following calendar year. Each vacation day will be calculated at 1/365 of Executive’s
Base Salary. The accrued, unused and not-cashed out portion of vacation leave will be paid within thirty (30) days following
termination of Executive’s employment.


 




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(ii)       Sick
Time. Executive shall be entitled to ten (10) days per year as sick leave and/or personal leave with full pay.


 


(iii)       Long-Term
Compensation. The Executive shall be eligible to receive additional awards of stock options to purchase shares
of the Company’s Common Stock and other stock awards in the sole discretion of and subject to such terms as
established by the Company’s Board, and otherwise in accordance with the provisions of the applicable stock incentive
plan of the Company.


 


(iv)       Recovery
of Incentive Compensation. Notwithstanding anything herein to the contrary, the Executive agrees that incentive
compensation payable to the Executive under this Agreement or otherwise shall be subject to any clawback policy
adopted or implemented by the Company with respect to the Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010 and such regulations as are promulgated thereunder from time to time, or with respect to any other applicable law, regulation
or Company policy.


 


(v)       Benefits
are not in Lieu of Base Salary. Nothing paid to the Executive under any of the Plans or fringe benefit arrangements
shall be deemed to be in lieu of Base Salary payable to the Executive hereunder.


 


(i)       Reimbursement
of Business Expenses. The Company shall pay or reimburse Executive for all reasonable, ordinary and necessary
business and travel expenses that may be incurred by him directly and solely for the benefit of the Company in connection
with the rendition of the services contemplated hereby. Executive shall submit to the Company such invoices, receipts
or other evidences or expenses as Company may require.


 


6.       Termination.


 


(a)       Termination
upon Death. The Executive’s employment hereunder shall terminate upon the death of the Executive;
provided, however, that for purposes of this Agreement the Date of Termination based upon the death of the
Executive shall be deemed to have occurred on the last day of the month in which the death of the Executive shall
have occurred.


 


(b)       Termination
upon Disability. If the Executive is unable to perform the essential functions of his position, with or without
reasonable accommodation, for an aggregate period in excess of 180 days (which need not be consecutive) during the previous twelve
(12) months, due to a physical or mental illness, disability or condition, the Company may terminate the Executive’s
employment hereunder at the end of any calendar month by giving written Notice of Termination to the Executive stating
the Date of Termination. Any questions as to the existence, extent or potentiality of illness or incapacity of the Executive
upon which the Company and the Executive cannot agree shall be determined by a qualified independent physician
selected by the Executive. The determination of such physician certified in writing to the Company and to the Executive
shall be final and conclusive for all purposes of this Agreement. Nothing in this Subsection 6(b) of this Agreement
shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation,
the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities Act, 42 U.S.C.
§12101 et seq. This Subsection 6(b) of this Agreement is intended to be interpreted and applied consistent
with any laws, statutes, regulations and ordinances prohibiting discrimination, harassment and/or retaliation on the basis of
a disability or request or use of a medical leave.


 




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(c)       Termination
by Company for Cause. Notwithstanding the Employment Period, the Company may terminate the Executive
for Cause, by giving written Notice of Termination to Executive. The Date of Termination shall
be specified in the Notice of Termination. At any time during the Employment Period, the Company may terminate
the Executive’s employment hereunder for Cause if, at a meeting of the Board called and held for such purpose,
a majority of the Board determines in good faith that there is Cause to terminate the employment of the Executive.
For purposes of this Agreement, “Cause” shall mean: (i) conduct by the Executive constituting
a material act of willful misconduct in connection with the performance of his duties, including, without limitation, misappropriation
of funds or property of the Company or any of its subsidiaries or affiliates other than the occasional, customary and de
minimis use of Company property for personal purposes; (ii) continued, willful and deliberate non-performance by the Executive
of his duties hereunder (other than by reason of the Executive’s physical or mental illness, incapacity or disability)
which has continued for more than 30 days following written notice of such non-performance from the Board or authorized executive;
(iii) a breach by the Executive of any of the provisions contained in Section 9 of this Agreement; (iv) a violation
by the Executive of the Company’s employment policies which has continued following written notice of such
violation from the Board or authorized executive, or (v) willful failure to cooperate with a bona fide internal investigation
or an investigation by regulatory or law enforcement authorities, after being instructed by the Company to cooperate, or
the willful destruction or failure to preserve documents or other materials known to be relevant to such investigation or the
willful inducement of others to fail to cooperate or to produce documents or other materials in connection with such investigation.
For purposes of clauses (i), (ii) or (v) hereof, no act, or failure to act, on the Executive’s part shall be deemed
“willful” unless done, or omitted to be done, by the Executive without reasonable belief that the Executive’s
act or failure to act, was in the best interest of the Company and its subsidiaries and affiliates.


 


(d)       Termination
Without Cause. Except as set forth in Section 6(c) hereof, the Company may not terminate this Agreement.


 


(e)       Termination
by the Executive other than for Good Reason. The Executive may terminate this Agreement by delivering
a Notice of Termination to the Company. The Date of Termination shall be specified in the Notice of Termination;
provided however, that the Date of Termination shall not be earlier than sixty (60) calendar days after delivery
of the Notice of Termination.


 




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(f)       Termination
by the Executive for Good Reason. The Executive may terminate this Agreement with Good Reason by
delivering a Notice of Termination to the Company complying with the Good Reason Process (hereinafter defined)
and specifying the Date of Termination. For purposes of this Agreement, “Good Reason”
shall mean that the Executive has complied with the Good Reason Process (hereinafter defined) following the occurrence
of any of the following events: (i) a material diminution in the Executive’s responsibilities, authority or duties;
(ii) a material diminution in the Executive’s Base Salary; (iii) a material change in the geographic location at
which the Executive provides services to the Company; or (iv) the material breach of this Agreement by the
Company. “Good Reason Process” shall mean that (i) the Executive reasonably determines
in good faith that a “Good Reason” condition has occurred; (ii) the Executive notifies the Company in
writing of the occurrence of the Good Reason condition within sixty (60) days of the occurrence of such condition; (iii) the Executive
cooperates in good faith with the Company’s efforts, for a period not less than thirty (30) days following such
notice (the “Cure Period”), to remedy the condition; (iv) notwithstanding such efforts, the Good Reason
condition continues to exist; and (v) the Executive terminates his employment within sixty (60) days after the end of the
Cure Period. If the Company cures the Good Reason condition during the Cure Period, Good Reason
shall be deemed not to have occurred.


 


(g)       Mutual
Agreement Termination. If the Company’s Board of Directors determines to terminate this Agreement pursuant
to the terms hereof, each party hereby agrees to the Mutual Agreement Termination as described in Section 6(h)(iii) below. This
Mutual Agreement Termination is not an admission of any wrong doing or improper behavior on the part of the Company or
the Executive.


 


(h)       Obligations
Upon Termination.


 


(i)       Termination
for by the Company for Death or Cause or by the Executive for other than Good Reason. If Executive’s employment
is terminated pursuant to Subsections 6(a), 6(c) or 6(e), the Company shall pay or provide to the Executive (or
to his authorized representative or estate) any earned but unpaid Base Salary, accrued but unpaid Annual Bonus,
earned but unpaid incentive compensation, unpaid business expense reimbursements, accrued but unused vacation, accrued but unused
sick leave and any vested benefits the Executive may have under any employee benefit plan of the Company (collectively,
the “Accrued Benefits”) within thirty (30) days of the Executive’s termination. Any outstanding
stock option or other stock awards held by Executive as of the Date of Termination shall be subject to the terms
of the applicable award agreements.


 


(ii)       Termination
by the Company for Disability or Without Cause or by the Executive with Good Reason. If the Executive’s employment
is terminated by the Company due to a disability as provided for in Subsection 6(b), or the Executive terminates
his employment for Good Reason as provided for in Subsection 6(f), then the Company shall continue to pay the Executive
his Base Salary (as provided for in Subsection 5(a)) and Plans (as provided for in Subsection 5(c)) throughout
the remainder of the balance of Employment Period, pay any pro-rata share of his Annual Bonus that would have or
could have been earned prior to the Date of Termination and pay the Executive his other Accrued Benefits.
To the extent the Company, is unable to continue Executive on any of the Plans (as provided for in Subsection
5(c)), Executive shall acquire private coverage for these benefits and Company shall reimburse Executive for the
cost of purchasing such benefits throughout the balance of the Employment Period. Any outstanding stock option or other
stock awards held by Executive as of the Date of Termination shall be subject to the terms of the applicable award
agreements, except notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement,
all stock options and other stock-based awards held by the Executive shall immediately accelerate and become fully exercisable
or non-forfeitable as of the Date of Termination.


 




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(iii)       Mutual
Agreement Termination. If the Company’s Board of Directors and the Executive determine to terminate
the employment pursuant to Section 6(g) hereof, then this pre-negotiated offer will stand as the terms for the termination of
this Agreement. Executive will be entitled to one half (1/2) years Base Salary paid to him in cash over six (6) months
and Executive will also be entitled to any bonus compensation due to them through the termination period. Executive also
agrees to comply with Section 6(iv) hereof.


 


(iv)       If
the Executive signs a general release of claims in a form and manner satisfactory to the Company (the “Release”)
within twenty one (21) days of the Date of Termination, Executive shall receive the following additional compensation:


 


(A)       Executive
shall be paid, in addition to the Base Salary an additional twenty four (24) months of his then Base Salary (“Severance
Amount”). The Severance Amount shall be paid in a lump sum payment on a date that is coincident with or immediately
follows the 60th day after the Date of Termination. Solely for purposes of Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”), the Severance Amount is considered a separate payment. Notwithstanding
the foregoing, if the Executive breaches any of the provisions contained in Section 9 hereof relating to restrictive covenants,
payment of the Severance Amount shall immediately cease; and


 


(B)       If
the Executive elects to receive COBRA benefits, the Company will pay the premium required for such coverage for
the Executive for a period of twelve (12) months from the Date of Termination; however, should the Executive
become enrolled in health benefits by a subsequent employer prior to twelve (12) months following the Date of Termination,
the Executive must notify the Company and the Company’s obligation to pay COBRA co-payments shall thereupon
cease. Notwithstanding anything to the contrary in this Agreement, if the Company determines in its sole discretion
that it cannot provide the COBRA premiums without potentially violating applicable law (including, without limitation, Section
2716 of the Public Health Service Act) or incurring an excise or penalty tax, the Company will in lieu thereof provide
to the Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that the Executive would
be required to pay to continue his group health coverage in effect on the Date of Termination, which payments will be made
regardless of whether the Executive elects COBRA coverage and will commence in the month following the month in the Company
determines that it cannot provide the COBRA premiums and will end on the earlier of (i) the date the Executive becomes
covered by another health plan, or (ii) twelve (12) months following the Date of Termination.


 




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(i)       Notice
of Termination. A “Notice of Termination” to effectuate a termination pursuant Section 6 hereof
shall be made in accordance with the Notice provision of Section 21. For purposes of this Agreement, a Notice of Termination
shall mean a notice, in writing, which shall indicate the specific termination provision of this Agreement relied upon
as the basis for the Termination and the Date of Termination. The Date of Termination shall not be earlier than
the date such Notice of Termination is delivered (as defined above); provided however, that the Company,
at its option, may elect to have the Executive not report to work after the date of the written notice.


 


(j)       Date
of Termination. “Date of Termination” means the date on which this Agreement shall terminate
in accordance with the provisions of this Section 6.


 


7.       Change
in Control Payment. The provisions of this Section 7 set forth certain terms of an agreement reached between the Executive
and the Company regarding the Executive’s rights and obligations upon the occurrence of a Change in Control
of the Company. These provisions are intended to assure and encourage in advance the Executive’s continued
attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of any such event.
These provisions shall apply in lieu of, and expressly supersede, the provisions of this Agreement, regarding severance pay and
benefits upon a termination of employment, if such termination of employment occurs within one (1) year after the occurrence of
the first event constituting a Change in Control, provided that such first event occurs during the Employment Period.


 


(a)       Change
in Control.


 


(i)       If
within one (1) year after a Change in Control, the Executive’s employment is terminated by the Company
due to a disability as provided for in Subsection 6(b) or without Cause as provided for in Subsection 6(d), or the
Executive terminates his employment for Good Reason as provided for in Subsection 6(f), then, subject to the signing
of the Release by the Executive within twenty one (21) days of the Date of Termination, the Company
shall pay the Executive a lump sum in cash in an amount equal Executive’s Base Salary (as defined in Subsection
5(a)) (or the Executive’s annual Base Salary in effect immediately prior to the Change in Control,
if higher) on the sixtieth (60th) day following the Date of Termination; and


 


(ii)       Notwithstanding
anything to the contrary in any applicable option agreement or stock-based award agreement, all stock options and other stock-based
awards held by the Executive shall immediately accelerate and become fully exercisable or non-forfeitable as of the Date
of Termination; and


 




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(iii)       If
the Executive elects to receive COBRA benefits, the Company will pay the premium required for such coverage for
the Executive for a period of twelve (12) months from the Date of Termination; however, should the Executive
become enrolled in health benefits by a subsequent employer prior to twelve (12) months following the Date of Termination,
the Executive must notify the Company and the Company’s obligation to pay COBRA co-payments shall thereupon
cease. Notwithstanding anything to the contrary in this Agreement, if the Company determines in its sole discretion
that it cannot provide the COBRA premiums without potentially violating applicable law (including, without limitation, Section
2716 of the Public Health Service Act) or incurring an excise or penalty tax, the Company will in lieu thereof provide
to the Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that the Executive would
be required to pay to continue his group health coverage in effect on the Date of Termination, which payments will be made
regardless of whether the Executive elects COBRA coverage and will commence in the month following the month in the Company
determines that it cannot provide the COBRA premiums and will end on the earlier of (i) the date the Executive becomes
covered by another health plan, or (ii) twelve (12) months following the Date of Termination.


 


(b)       Definitions.
For purposes of this Section 8, the following terms shall have the following meanings:


 


(i)       “Change
in Control” shall mean any of the following:


 


(A)       any
“person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
“ Exchange Act”) (other than the Company, any of its subsidiaries, or any trustee, fiduciary
or other person or entity holding securities under any employee benefit plan or trust of the Company or any of its subsidiaries),
together with all “affiliates” and “associates” (as such terms are defined in Rule 12b-2 under the Exchange
Act) of such person, shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined
voting power of the Company’s then outstanding securities having the right to vote in an election of the Board
(“Voting Securities”) (in such case other than as a result of an acquisition of securities directly
from the Company); or


 


(B)       the
date a majority of the members of the Board is replaced during any twelve (12) month period by directors whose appointment or
election is not endorsed by a majority of the members of the Board before the date of the appointment or election; or


 


(C)       the
consummation of (A) any consolidation or merger of the Company where the stockholders of the Company, immediately
prior to the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own (as such term
is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, shares representing in the aggregate more than
fifty percent (50%) of the voting shares of the Company issuing cash or securities in the consolidation or merger (or of
its ultimate parent corporation, if any), or (B) any sale or other transfer (in one transaction or a series of transactions contemplated
or arranged by any party as a single plan) of all or substantially all of the assets of the Company.


 




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(ii)       Notwithstanding
the foregoing, a Change in Control shall not be deemed to have occurred for purposes of the foregoing clause (i) solely
as the result of an acquisition of securities by the Company which, by reducing the number of shares of Voting Securities
outstanding, increases the proportionate number of Voting Securities beneficially owned by any person to fifty percent
(50%) or more of the combined voting power of all of the then outstanding Voting Securities; provided, however, that if
any person referred to in this sentence shall thereafter become the beneficial owner of any additional shares of Voting Securities
(other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of securities
directly from the Company) and immediately thereafter beneficially owns fifty percent (50%) or more of the combined voting
power of all of the then outstanding Voting Securities, then a Change in Control shall be deemed to have occurred
for purposes of the foregoing clause (i).


 


8.       Section
409A.


 


(a)       Anything
in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from service
within the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified
employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that
the Executive becomes entitled to under this Agreement would be considered deferred compensation subject to the
twenty percent (20%) additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section
409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that
is the earlier of (A) six (6) months and one day after the Executive’s separation from service, or (B) the Executive’s
death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up
payment covering amounts that would otherwise have been paid during the six (6) month period but for the application of this provision,
and the balance of the installments shall be payable in accordance with their original schedule.


 


(b)       The
Parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the
extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the
provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code. The Parties
agree that this Agreement may be amended, as reasonably requested by either Party, and as may be necessary to fully
comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits
provided hereunder without additional cost to either Party.


 


(c)       A
termination of employment shall not be deemed to have occurred unless it is also a “separation from service” within
the meaning of Treasury Regulation Section 1.409A-1(h).


 




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(d)       The
Company makes no representation or warranty and shall have no liability to the Executive or any other person if
any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code
but do not satisfy an exemption from, or the conditions of, such Section.


 


9.       Confidential
Information and Cooperation.


 


(a)       Confidential
Information. As used in this Agreement, “Confidential Information” means information
belonging to the Company which is of value to the Company in the course of conducting its business and the disclosure
of which could result in a competitive or other disadvantage to the Company. Confidential Information includes, without
limitation, financial information, reports, and forecasts; inventions, improvements and other intellectual property; trade secrets;
know-how; designs, processes or formulae; software; market or sales information or plans; customer lists; and business plans,
prospects and opportunities (such as possible acquisitions or dispositions of businesses or facilities) which have been discussed
or considered by the management of the Company. Confidential Information includes information developed by the Executive
in the course of the Executive’s employment by the Company, as well as other information to which the
Executive may have access in connection with the Executive’s employment. Confidential Information also includes
the confidential information of others with which the Company has a business relationship. Notwithstanding the foregoing,
Confidential Information does not include information in the public domain, unless due to breach of the Executive’s
duties under Section 8(b).


 


(b)       Confidentiality.
The Executive understands and agrees that the Executive’s employment creates a relationship of confidence
and trust between the Executive and the Company with respect to all Confidential Information. At all times,
both during the Executive’s employment with the Company and after its termination, the Executive will
keep in confidence and trust all such Confidential Information, and will not use or disclose any such Confidential Information
without the written consent of the Company, except as may be necessary in the ordinary course of performing the Executive’s
duties to the Company.


 


(c)       Documents,
Records, etc. All documents, records, data, apparatus, equipment and other physical property, whether or not pertaining
to Confidential Information, which are furnished to the Executive by the Company or are produced by the Executive
in connection with the Executive’s employment will be and remain the sole property of the Company. The
Executive will return to the Company all such materials and property as and when requested by the Company.
In any event, the Executive will return all such materials and property immediately upon termination of the Executive’s
employment for any reason. The Executive will not retain with the Executive any such material or property or any
copies thereof after such termination.


 


(d)       Intentionally
Omitted.


 




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(e)       Third-Party
Agreements and Rights. The Executive hereby confirms that the Executive is not bound by the terms of any
agreement with any previous employer or other party which restricts in any way the Executive’s use or disclosure
of information or the Executive’s engagement in any business. The Executive represents to the Company
that the Executive’s execution of this Agreement, the Executive’s employment with the Company
and the performance of the Executive’s proposed duties for the Company will not violate any obligations
the Executive may have to any such previous employer or other party. In the Executive’s work for the Company,
the Executive will not disclose or make use of any information in violation of any agreements with or rights of any such
previous employer or other party, and the Executive will not bring to the premises of the Company any copies or
other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other party.


 


(f)       Litigation
and Regulatory Cooperation. During and after the Executive’s employment, the Executive shall cooperate
fully with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought
in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive
was employed by the Company. The Executive’s full cooperation in connection with such claims or actions
shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness
on behalf of the Company at mutually convenient times. During and after the Executive’s employment, the Executive
also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or
local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive
was employed by the Company. The Company shall reimburse the Executive for any reasonable out-of-pocket
expenses incurred in connection with the Executive’s performance of obligations pursuant to this Subsection 9(g).


 


(g)       Injunction.
The Executive agrees that it would be difficult to measure any damages caused to the Company which might result
from any breach by the Executive of the covenants set forth in this Subsection 9(h), and that in any event money damages
would be an inadequate remedy for any such breach. Accordingly, subject to Section 10 of this Agreement, the Executive
agrees that if the Executive breaches, or proposes to breach, any portion of this Agreement, the Company
shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief
to restrain any such breach without showing or proving any actual damage to the Company.


 


10.       Arbitration
of Disputes. Any controversy or claim arising out of or relating to this Agreement or the breach thereof or otherwise
arising out of the Executive’s employment or the termination of that employment (including, without limitation, any
claims of unlawful employment discrimination whether based on age or otherwise) shall, to the fullest extent permitted by law,
be settled by arbitration in any forum and form agreed upon by the Parties or, in the absence of such an agreement, under
the auspices of the American Arbitration Association (“AAA”) in Bethesda, Maryland in accordance with
the Employment Dispute Resolution Rules of the AAA, including, but not limited to, the rules and procedures applicable
to the selection of arbitrators. In the event that any person or entity other than the Executive or the Company
may be a party with regard to any such controversy or claim, such controversy or claim shall be submitted to arbitration subject
to such other person or entity’s agreement. Judgment upon the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof. This Section 10 shall be specifically enforceable. Notwithstanding the foregoing, this Section 10
shall not preclude either party from pursuing a court action for the sole purpose of obtaining a temporary restraining order or
a preliminary injunction in circumstances in which such relief is appropriate; provided that any other relief shall be pursued
through an arbitration proceeding pursuant to this Section 10.


 




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11.       Consent
to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce Section 10 of this Agreement,
the Parties hereby consents to personal jurisdiction and exclusive venue in the United States District Court for Maryland,
if such Court can exercise jurisdiction. In the event the foregoing Court lacks jurisdiction, the Executive consents to
personal jurisdiction and exclusive venue in the Circuit Court in and for Montgomery County, Maryland. Accordingly, with respect
to any such court action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents to service
of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal
jurisdiction or service of process.


 


12.       Specific
Performance. It is agreed that the rights granted to the Parties hereunder are of a special and unique kind and
character and that, if there is a breach by any Party of any material provision of this Agreement, the other Party
would not have any adequate remedy at law. It is expressly agreed, therefore, that the rights of the Parties hereunder
may be enforced by an action for specific performance and other equitable relief without the Parties posting a bond, or,
if a bond is required, the Parties agree that the lowest bond permitted shall be adequate.


 


13.       Entire
Agreement. This Agreement contains the entire understanding of the Parties and no agreements or representations,
oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either Party, which
are not set forth expressly in this Agreement. This Agreement supersedes all negotiations, preliminary agreements,
and all prior and contemporaneous discussions and understandings of the Parties and/or their affiliates. The Executive
acknowledges that he has not relied on any prior or contemporaneous discussions or understandings in entering into this Agreement.
This Agreement also supersedes and voids any employment agreements between Executive and Company.


 


14.       Withholding.
All payments made by the Company to the Executive under this Agreement shall be net of any tax or other
amounts required to be withheld by the Company under applicable law.


 


15.       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the Company and its successors
and assigns, and the Executive agrees that this Agreement may be assigned by the Company without Executive’s
consent. This Agreement is not assignable by the Executive.


 


16.       Successor
to the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s
personal representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s
death after his termination of employment but prior to the completion by the Company of all payments due him under
this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated
in writing to the Company prior to his death (or to his estate, if the Executive fails to make such designation).


 




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17.       Successor
to Company. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation
or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform
this Agreement to the same extent that the Company would be required to perform it if no succession had taken place.
Failure of the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession
shall be a material breach of this Agreement.


 


18.       Enforceability.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section
of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then
the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to
which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement
shall be valid and enforceable to the fullest extent permitted by law.


 


19.       Waiver/Amendment.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving Party. The failure
of any Party to require the performance of any term or obligation of this Agreement, or the waiver by any Party
of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed
a waiver of any subsequent breach. No provision of this Agreement may be modified, waived or discharged unless such waiver,
modification or discharge is approved by the Board and agreed to in writing signed by Executive and such officer
as may be specifically authorized by the Board.


 


20.       Survival.
The provisions of this Agreement shall not survive the termination of the Executive’s employment hereunder,
except that the provisions of (i) Section 6 hereto relating to post-termination payment obligations; (ii) Section 9 hereto relating
to the restrictive covenants; and (iii) Sections 10 and 11 relating to arbitration and jurisdiction and venue shall remain binding
upon the Parties.


 


21.       Notices.
Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing
and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage
prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with
the Company or, in the case of the Company, at its main offices, attention of the Board.


 


22.       Governing
Law. This is a Maryland contract and shall be construed under and be governed in all respects by the laws of the State
of Maryland, without giving effect to the conflict of laws principles of such State.


 


23.       Gender
Neutral. Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender
unless the context clearly indicates otherwise.


 


24.       Neutral
Construction. No Party may rely on any drafts of this Agreement in any interpretation of the Agreement.
Each Party to this Agreement has reviewed this Agreement and has participated in its drafting and, accordingly,
no Party shall attempt to invoke the normal rule of construction to the effect that ambiguities are to be resolved against
the drafting Party in any interpretation of this Agreement.


 




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25.       Headings
and Captions. The titles and captions of paragraphs, sections, subparagraphs and subsections contained in this Agreement
are provided for convenience of reference only, and shall not be considered terms or conditions of this Agreement.


 


26.       Further
Assurances. Each of the Parties hereto shall execute and deliver any and all additional papers, documents and other
assurances, and shall do any and all acts and things reasonably necessary in connection with the performance of their obligations
hereunder and to carry out the intent of the Parties hereto.


 


27.       Right
to Review and Seek Counsel. The Executive acknowledges that he has had the opportunity to seek independent counsel
and tax advice in connection with the execution of this Agreement, and the Executive represents and warrants to
the Company (a) that he has sought such independent counsel and advice as he has deemed appropriate in connection with
the execution hereof and the transactions contemplated hereby, and (b) that he has not relied on any representation of the Company
as to tax matters, or as to the consequences of the execution hereof.


 


28.       Counterparts.
This Agreement may be executed in one or more separate counterparts, each of which, when so executed, shall be deemed
to be an original. Such counterparts shall, together, constitute and shall be one and the same instrument. This Agreement,
and the counterparts thereto, may be executed by the Parties using their respective signatures transmitted via facsimile
machines or via electronic mail.


 


[SIGNATURE
PAGE FOLLOWS]


 




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IN
WITNESS WHEREOF, the Parties have executed this Agreement effective on the date and year first above written.


 


	 	COMPANY:
	 	RealBiz
    Media Group, Inc.
	 	 	 
	 	By:	 /s/
    Mark Lucky
	 	 	Mark
    Lucky, Chief Financial Officer
	 	 	 
	 	EXECUTIVE:
	 	 
	 	/s/
    Anshu Bhatnagar
	 	Anshu
    Bhatnagar


 




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