Exhibit 10.10


  


EMPLOYMENT AGREEMENT


 


This Employment Agreement
(the “Agreement”) is made as of this 26 day of June, 2018 (the “Effective Date”), by Simulations
Plus, Inc., a California corporation (the “Company”) and Shawn O’Connor, an individual (the “Employee”)
with reference to the following facts:


 


A.          The Company desires to secure the services of the Employee as Chief Executive Officer (“CEO”).


 


B.          The
Employee agrees to perform such services for the Company under the terms and conditions set forth in this Agreement.


 


In consideration of the mutual promises,
covenants, and conditions set forth herein and for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, it is hereby agreed by and between the Company and the Employee as follows:


 


1.              
Representations and Warranties. The Company represents and warrants that it is empowered under its Articles
or Certificate of Incorporation and Bylaws to enter into this Agreement. The Employee represents and warrants that he is under
no employment contract, bond, confidentiality agreement, or any other obligation that would violate or be in conflict with the
terms and conditions of this Agreement or encumber his performance of duties assigned to him by the Company. The Employee further
represents and warrants that he has not signed or committed to any employment or consultant duties or other obligations that would
divert his full attention from the duties assigned to him by this Agreement; provided, that the foregoing limitations shall not
be construed as prohibiting Employee from making personal investments or participating in business activities or community affairs
in such form or manner as will not prevent Employee from performing his duties and responsibilities hereunder or cause Employee
to violate the terms of Section 6 hereof.


 


2.              
Employment and Duties. The Company hereby employs the Employee as Chief Executive Officer and the Employee
hereby accepts such employment during the Term.


 


As CEO the Employee shall have such duties,
authority and responsibility as shall be consistent with the Employee’s position and such other duties as assigned by the
Board of Directors of the Company (the “Board of Directors”).


 


3.              
Term. Subject to the provisions of Section 5, the term of this Agreement shall commence on June 26, 2018
and end on August 31, 2021 (“Term”).


 


4.              
Compensation. In full and complete consideration for the employment of Employee hereunder, each and all
of the services to be rendered to the Company by the Employee, and each and all of the representations, warranties, covenants,
agreements and promises undertaken by the Employee pursuant to this Agreement, the Employee shall be entitled to receive compensation
as follows:


 


4.1           
Base Salary. The Employee shall receive from the Company a base salary of three hundred twenty-five thousand
dollars ($325,000) per year, payable in equal, bi-monthly installments. From each payment of Base Salary, the Company will withhold
and pay to the proper governmental authorities any and all amounts required by law to be withheld for federal income tax, state
income tax, federal Social Security tax, state disability insurance premiums, and any and all other amounts required by law to
be withheld from the Employee's salary.


 


4.2           
Stock Options. Upon joining, the Employee will receive forty thousand stock options under the 2017 Equity
Incentive Plan. Thereafter, the Employee shall be eligible to receive an annual grant of up to twenty-five thousand stock options
under the 2017 Equity Incentive Plan, based on the employee’s and the Company’s performance, as determined by the Board
of Directors. Performance Bonus.


 


4.3           
Performance Bonus.


 


(a)            
Initial Year. For the period commencing with the Employee’s start date until the ending of the 2019
fiscal year (ending August 31, 2019) the Employee shall be eligible to receive a performance bonus in an amount not to exceed the
amount of $150,000, at the discretion of the Compensation Committee of the Board of Directors. Employee must be employed by the
Company on the last date of the calendar year to be eligible for the bonus related to the previous fiscal year.


 


 


 






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(b)            
Subsequent Years. For each subsequent fiscal year during the Term, the Employee shall be eligible to receive:


 


(i)             
A performance bonus in an amount not to exceed $100,000 at the end of each calendar year. The specific amount of
the performance bonus shall be determined by the Compensation Committee of the Board of Directors, based on the financial performance
and achievements of the Company for the previous fiscal year. Payout of the bonus will be tied to the Corporate EBITDA performance.
If the EBITDA yr/yr increase is less than or equal to 10%, there will be no bonus. If the increase in EBITDA is greater than or
equal to 11%, then the bonus is paid out on a linear scale based on the increase from 11% to 40%. That is, for 100% of the bonus
to be achieved, the yr/yr increase in EBITDA must be at least 40%. Employee must be employed by the Company on the last date of
the calendar year to be eligible for the bonus related to the previous fiscal year.


 


(ii)           
In addition, the Board of Directors will have at its discretion the ability to award an additional bonus up to $50,000,
based on the CEO’s and the Company’s performance. This could be tied to M&A or other activities (at the Board’s
discretion). Employee must be employed by the Company on the last date of the calendar year to be eligible to receive this bonus.


 


4.4           
Benefits. The Company shall provide to the Employee at the sole cost to the Company, and the Employee shall
be entitled to receive from the Company, such health insurance and other benefits which are appropriate to the office and position
of Employee, adequate to the performance of his duties and not inconsistent with that which the Company customarily provides at
the time to their other management employees. The Employee's right to vacation and sick leave shall be determined in accordance
with the policies of the Company as may be in effect from time to time and as are approved by the Board of Directors. Employee
shall have the right to reimbursement of customary, ordinary, and necessary business expenses, including travel, incurred in connection
with the rendering of services and performance of the functions required hereunder in accordance with the policies of the Company
as may be in effect from time to time and as are approved by the Company’s Board of Directors. Such expenses are reimbursable
only upon presentation by Employee of appropriate documentation pursuant to the policies adopted by the Company’s Board of
Directors. Employee will be based primarily at the Company’s main office in Lancaster, California, even though Employee has
indicated that at present he wishes to retain his home in Danville, California for personal reasons. Employee understands and agrees
that he is expected to spend at least 75% of his time working in the Lancaster office or on official travel. Employee further agrees
that he will not be reimbursed by the Company for any expenses associated with commuting to and living in Lancaster.


 


5.              
Termination of Employment.


 


5.1           
Expiration of the Term of Agreement. This Agreement shall be automatically terminated upon the expiration
of the Term, or as sooner agreed to by both the Employee and the Company in writing in the event this Agreement is superseded by
a new agreement. Upon such termination, the Company shall have no further liability to the Employee for any payment, compensation
or benefit whatsoever under this Agreement except with respect to (a) the Employee's salary and benefits through the effective
date of the Employee's termination, and (b) such other compensation or benefits (if any) which, by the terms of the applicable
plan or policy, is payable to the Employee after termination of employment.


 


5.2           
By Death. This Agreement shall be terminated upon the death of the Employee. The Company's total liability
in such event shall be limited to payment of (a) the Employee's salary and benefits through the date of the Employee's death, and
(b) such other compensation or benefits (if any) which, by the terms of the applicable plan or policy, is payable after the Employee's
death.


 


5.3           
By Permanent Disability. Employee’s employment may be terminated due to his permanent disability. A
permanent disability will exist when the Company has determined that Employee suffers from a condition of mind or body that indefinitely
prevents him from further performance of his essential duties, with or without reasonable accommodation. The Company’s total
liability in such event shall be limited to payment of the Employee’s salary and benefits through the effective date of termination
upon permanent disability.


 


5.4           
For Cause. The Company reserves the right to terminate this Agreement immediately, at any time, by providing
written notice to Employee that his employment is being terminated for “Cause”. The Company has “Cause”
to terminate Employee’s employment if, in the reasonable opinion of the Company’s Board of Directors: the Employee
fails or refuses to faithfully and diligently perform the usual and customary duties of his employment, which failure or refusal
is not cured within thirty (30) days after written notice thereof is given to Employee; commits any material act of dishonesty,
fraud, misrepresentation, or other act of moral turpitude; is guilty of gross carelessness or misconduct; fails to obey the lawful
direction of the Company’s Board of Directors; fails or refuses to comply with the material policies, standards and/or rules
of the Company which from time to time may be established; violates any term or condition of this Agreement; or acts in any way
that has a direct, substantial, and adverse effect on the Company’s reputation. The Company’s total liability to the
Employee in the event of termination of the Employee's employment under this paragraph shall be limited to the payment of the Employee's
salary and benefits through the effective date of termination.


 


 


 






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5.5           
Without Cause. The Company reserves the right to terminate this Agreement without cause for any reason whatsoever
upon thirty (30) days' written notice to the Employee. Upon termination under this subsection, Employee shall be paid his salary
and benefits through the effective date of termination. In addition, the Employee shall receive payment of an amount equal to six
(6) months of the Employee's base salary, so long as he signs a release of all claims against the Company on a release form provided
by the Company to him at that time. Other than payment of the amount as described in this paragraph, the Company shall have no
further obligation to pay the Employee any other compensation or benefits whatsoever. The Employee hereby agrees that the Company
may dismiss him under this Section 5.5 without regard (i) to any general or specific policies (whether written or oral) of the
Company relating to the employment or termination of its employees, or (ii) to any statements made to the Employee, whether made
orally or contained in any document, pertaining to the Employee's relationship with the Company.


 


5.6           
Mutual Consent. This Agreement shall be terminated upon mutual written consent of the Company and the Employee.
The Company’s total liability to the Employee in the event of termination of the Employee's employment under this Section
5.6 shall be limited to the payment of


 


(a)            
The Employee's salary and benefits through the effective date of termination; and


 


(b)            
Such other compensation or benefits (if any) which, by the terms of the applicable plan or policy, is payable to
the Employee after termination of employment, except as otherwise agreed by the parties in writing.


 


5.7           
Termination of Offices and Board. Upon termination of employment for any reason whatsoever, the Employee shall
be deemed to have resigned from all offices, including the Board of Directors then held with the Company, if any.


 


6.              
Restrictions on Use or Disclosure of Confidential Matters, Proprietary Information and Trade Secrets.


 


6.1           
During the Term of this Agreement, Employee will have access to confidential information of the Company and its customers.
“Confidential Information” is information that is not generally known to the public and, as a result, is of economic
benefit to the Company or its customers in the conduct of its business. The Company and Employee agree that Confidential Information
shall include, but not be limited to, all information developed or maintained by the Company and/or its customers and comprising
the following items, whether or not such items have been reduced to tangible form (e.g., physical writing): techniques, designs,
drawings, processes, inventions, development, equipment, prototypes, methods, databases, consulting agreements, product research,
sales, marketing and strategic plans, programming plans, advertising and promotion plans, products and “availability”
information, existing and developing software products, source code, object code, technical documentation, flow charts, test results,
models, data, research, formulas, ideas, trade names, service marks, slogans, forms, customer lists, client contacts, pricing structures,
business forms, marketing programs and plans, business plans and strategies, layout and design, financial information, financial
structure, operational methods and tactics, cost information, the identity of suppliers or customers of the Company, accounting
procedures, details, and any document, record or other information of the Company relating to the above. Confidential Information
includes not only information belonging to the Company or its customers which existed before the date of this Agreement, but also
information developed by Employee for the Company or its customers during the term of this Agreement and thereafter. The Employee
will not disclose to anyone, directly or indirectly, any of such Confidential Information or use any Confidential Information other
than as necessary in the course of his duties with the Company. All documents that the Employee prepares, or Confidential Information
that might be given to him or that Employee himself might create in the course of his employment by the Company, are the exclusive
property of the Company. During the Term and at any time thereafter, the Employee shall not publish, communicate, divulge, disclose
or use any of such Confidential Information which has been reasonably designated by the Company as proprietary or confidential
or which from the surrounding circumstances the Employee knows, or has good reason to know, or should reasonably know, ought to
be treated by the Employee as proprietary or confidential without the prior written consent of the Company, which consent may not
be unreasonably withheld by the Company.


 


6.2           
In the course of his employment for the Company, Employee will develop a personal relationship with the Company’s
customers and knowledge of those customers’ affairs and requirements, which may constitute the Company’s only contact
with such customers. The Employee consequently agrees that it is reasonable and necessary for the protection of the goodwill and
business of the Company that the Employee make the covenants contained herein. Accordingly, the Employee agrees that while he is
in the Company’s employ, he will not directly or indirectly:


 


 


 






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(a)            
Attempt in any manner, to solicit from any customer (except on behalf of the Company) business of the type performed
by the Company or to persuade any customer of the Company to cease to do business or reduce the amount of business which any such
customer has customarily done or contemplates doing with the Company, whether or not the relationship with the Company and such
customer was originally established in whole or in part through the Employee's efforts; or


 


(b)            
Engage in any business as, or own an interest in, directly or indirectly, any individual proprietorship, partnership,
corporation, joint venture, trust, or any other form of business entity if such business form or entity is engaged in the business
in which the Company is engaged;


 


(c)            
Render any services of the type rendered by the Company to or for any customer of the Company, except as an employee
of the Company in the normal performance of his duties;


 


(d)            
Employ or attempt to employ or assist anyone else to employ any person who is then or at any time during the preceding
year in the Company’s employ.


 


6.3           
For a one-(1-)year period after the termination of this Agreement for any reason, Employee shall not, directly or
indirectly, ask or encourage any employee(s) of the Company to leave their employment with the Company or solicit any employee(s)
of the Company for employment elsewhere. The Employee further agrees that he shall make any subsequent employer aware of this nonsolicitation
obligation.


 


6.4           
Notice of Rights. Notwithstanding any provisions in this Agreement or Company policy applicable to the unauthorized
use or disclosure of trade secrets or Confidential Information, Employee is hereby notified that Employee may not be held criminally
or civilly liable, under any applicable federal or state trade secret law, for the disclosure of a trade secret that is made in
confidence to a federal, state, or local government official, or to an attorney, solely for the purpose of reporting or investigating
a suspected violation of law.  Employee also may not be held so liable for such disclosures made in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal.  In addition, Employee is advised that individuals
who file a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the
attorney of the individual and use the trade secret in the court proceeding, if the individual files any document containing the
trade secret under seal and does not disclose the trade secret, except pursuant to court order.


 


6.5           
This entire Section 6 shall survive termination of this Agreement.


 


7.              
The Company’s Property.


 


7.1           
Any patents, inventions, discoveries, applications or processes, software, and computer programs devised, planned,
applied, created, discovered or invented by the Employee in the course of his employment by the Company and which pertain to any
aspect of the business of the Company, or their respective subsidiaries, affiliates or customers, shall be the sole and exclusive
property of the Company, and the Employee shall make prompt report thereof to the Company and promptly execute any and all documents
reasonably requested to assure the Company the full and complete ownership thereof.


 


7.2           
All records, files, lists, drawings, documents, equipment, and similar items relating to the Company’s business
which the Employee shall prepare or receive from the Company in the course of his employment by the Company shall remain the Company’s
sole and exclusive property. Upon termination of this Agreement, the Employee shall return promptly to the Company all property
of the Company in his possession and the Employee represents and warrants that he will not copy, or cause to be copied, printed,
summarized or compiled, any software, documents, or other materials originating with and/or belonging to the Company, including,
without limitation, documents or other materials created by the Employee for, or on behalf of, the Company. The Employee further
represents and warrants that he will not retain in his possession any such software, documents, or other materials in machine or
human readable form.


 


7.3           
This Section 7 shall survive termination of this Agreement.


 


8.              
Outside Activities. During the Term, the Employee shall not, directly or indirectly, either as an officer,
director, employee, representative, principal, partner, shareholder, employee, agent or in any other capacity, engage or assist
any third party in engaging in any business competitive, or potentially competitive, with the business of the Company, or engage
in any other gainful occupation which requires his personal attention, without the prior written consent of the Company, which
consent may be withheld by the Company in its sole and absolute discretion. Following his employment with the Company, the Employee
shall not engage in unfair competition with the Company, aid others in any unfair competition with the Company, in any way breach
the confidence that the Company has placed in the Employee, or misappropriate any proprietary information of the Company.


 


 


 






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9.              
Reports. The Employee, when directed, shall provide written reports to the Company with respect to the
services provided hereunder.


 


10.           
Strict Loyalty. The Employee hereby covenants and agrees to avoid all circumstances and actions that reasonably
would place the Employee in a position of divided loyalty with respect to his obligations under this Agreement.


 


11.           
Assignment. This Agreement may not be assigned to another party by the Employee without the prior written
consent of the Company, which consent may be withheld by the Company, in its sole and absolute discretion.


 


12.           
Arbitration. In the event of any dispute between the Company and the Employee concerning any aspect of
the employment relationship, including any disputes relating to its termination, all such disputes shall be resolved by binding
arbitration before a single neutral arbitrator pursuant to the following terms. This provision shall supersede any prior arbitration
agreement, policy, or understanding between the parties. The parties intend to revoke any prior arbitration agreement.


 


12.1        
Claims Covered by the Agreement. The Employee and the Company mutually consent to the resolution by final
and binding arbitration of all claims or controversies (“claims”) that the Company may have against the Employee
or that the Employee may have against the Company or against its officers, directors, partners, employees, agents, pension or benefit
plans, administrators, or fiduciaries, franchisors, or any parent, subsidiary or affiliated companies or corporation (collectively
referred to for purposes of this Section 12 as “Company’s Parties”), relating to, resulting from, or in
any way arising out of Employee’s employment relationship with Company and/or the termination of Employee’s employment
relationship with Company, to the extent permitted by law. The claims covered by this Agreement include, but are not limited to,
claims for wages or other compensation due; claims for breach of any contract or covenant (express or implied); tort claims; claims
for discrimination and harassment (including, but not limited to, race, sex, religion, national origin, age, marital status or
medical condition, disability, or sexual orientation); claims for benefits (except where an employee benefit or pension plan specifies
claims procedures different from the ones described in this Section 12); claims for breach of any duties or obligations; and claims
for violation of any public policy, federal, state or other governmental law, statute, regulation, or ordinance, except claims
excluded in the following section.


 


12.2        
Claims Not Covered by the Agreement. Claims the Employee may have for workers’ compensation (excluding
discrimination claims under workers’ compensation statutes), unemployment compensation benefits, or claims under the Private
Attorney General Act of 2014 (“PAGA”), California Labor Code Sections 2699 et seq., are not covered by this Arbitration
section.


 


12.3        
Required Notice of Claims and Statute of Limitations. Arbitration may be initiated by the Employee by serving
or mailing a written notice to the Chairman of the Board of the Company. Arbitration may be initiated by the Company’s Parties
by serving or mailing a written notice to the Employee at his last known address. The notice shall identify and describe the nature
of all claims asserted and the facts upon which such claims are based. The written notice shall be served or mailed within the
applicable statute of limitations period set forth by federal or state law.


 


12.4        
Arbitration Procedures.


 


(a)            
After demand for arbitration has been made by serving written notice under the terms of Section 12.3 of this Agreement,
the party demanding arbitration shall file a demand for arbitration with the office of Judicial Arbitration and Mediation Services
(“JAMS”) located in Los Angeles, California. The arbitrator shall be selected from the JAMS panel and the arbitration
shall be conducted pursuant to JAMS policies and procedures. All rules governing the arbitration shall be the rules as set forth
by JAMS. If the dispute is employment-related, the dispute shall be governed by JAMS’ then-current version of the national
rules for the resolution of employment disputes. JAMS’ then-applicable rules governing the arbitration may be obtained from
JAMS’ website which currently is www.jamsadr.com.


 


(b)            
The arbitrator shall apply the substantive law (and the law of remedies, if applicable) of California, or federal
law, or both, as applicable to the claim(s) asserted. The arbitrator shall have exclusive authority to resolve any dispute relating
to the interpretation, applicability, enforceability, or formation of this Agreement, including but not limited to any claim that
all or any part of this Agreement is void or voidable.


 


(c)            
Either party may file a motion for summary judgment with the arbitrator. The arbitrator is entitled to resolve some
or all of the asserted claims through such a motion. The standards to be applied by the arbitrator in ruling on a motion for summary
judgment shall be the applicable laws as specified in Section 12.4(b) of this Agreement.


 


 


 






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(d)            
Discovery shall be allowed and conducted pursuant to the then-applicable arbitration rules of JAMS, provided that
the parties shall be entitled to discovery sufficient to adequately arbitrate their claims and defenses. The arbitrator is authorized
to rule on discovery motions brought under the applicable discovery rules.


 


12.5        
Arbitration Decision. The arbitrator’s decision will be final and binding. The arbitrator shall issue
a written arbitration decision revealing the essential findings and conclusions upon which the decision and/or award is based.
A party’s right to appeal the decision is limited to grounds provided under applicable federal or California law.


 


12.6        
Application for Emergency Injunctive and/or Other Equitable Relief. Claims by the Company or Employee for
emergency injunctive and/or other equitable relief relating to unfair competition and/or the use and/or unauthorized disclosure
of trade secrets or confidential information and/or a breach of the provisions of Sections 6, 7, and 8 of this Agreement shall
be submitted to JAMS for emergency treatment. The parties agree that the JAMS administrator may select a neutral hearing officer
(subject to conflicts) to hear the emergency request only. The hearing officer should be experienced in considering requests for
emergency injunctive and/or other equitable relief. The hearing officer shall conform his or her consideration and ruling with
the applicable legal standards as if this matter were heard in a court of law in the applicable jurisdiction for such a dispute.


 


12.7        
Place of Arbitration. The arbitration will be at a mutually convenient location in Los Angeles, California.
If the parties cannot agree upon a location, then the arbitration will be held at a JAMS’ office in Los Angeles.


 


12.8        
Representation, Fees and Costs. Each party may be represented by an attorney or other representative selected
by the party. Each party shall be responsible for its own attorneys’ or representatives’ fees. However, if any party
prevails on a statutory claim that affords the prevailing party’s attorneys’ fees, or if there is a written agreement
providing for fees, the arbitrator may award reasonable fees to the prevailing party. The Company shall be responsible for the
arbitrator’s fees and costs to the extent they exceed any fee or cost that the Employee would be required to bear if the
action were brought in court.


 


12.9        
Waiver Of Jury Trial/Exclusive Remedy. The Employee and the Company knowingly and voluntarily waive any constitutional
right to have any dispute between them decided by a court of law and/or by a jury in court.


 


12.10    
Waiver of Representative/Class Action Proceedings. Employee and Company knowingly and voluntarily agree to
bring any claims governed by this Agreement in his/its individual capacity and not as a plaintiff, class member, or representative
in any purported class or representative action. They further agree to waive any right to participate in any representative or
class action proceeding related to any claims governed by this Agreement. The Company and Employee also agree that the arbitrator
may not consolidate more than one individual’s claims, and may not otherwise preside over any form of representative or class
action proceeding, including, but not limited to, any representative action under California Business and Professions Code Sections
17200 et seq. For purposes of this Agreement, the term “representative” used in this section specifically excludes
any claims, causes of action, or actions brought under PAGA (“PAGA claims”). Accordingly, any PAGA claims must be pursued
in the appropriate court of law. However, if either Employee or the Company have other claims or actions against each other covered
by this Agreement, then they agree that those non-PAGA claims must first be pursued in arbitration, regardless of which claims
or actions were filed first. The pending court PAGA action shall be stayed pending full and final resolution of the arbitration
pursuant to California Code of Civil Procedure Section 1281.2 and related law.


 


13.           
The Company’s Bylaws, Directions, Policies, Practices, Rules, Regulations, and Procedures. The Employee
agrees to become and remain thoroughly familiar with each and all of the Company’s bylaws, directions, policies, practices,
rules, regulations, and procedures that relate to the employment and/or to any of Employee's duties and/or responsibilities as
an employee of the Company, and to abide fully and by each and all of such bylaws, directions, policies, practices, rules, regulations,
and procedures. During the Term, the Employee shall be fully bound by and employed pursuant to each and all of the Company’s
bylaws, directions, policies, practices, rules, regulations, and procedures as now in effect or as may be implemented, modified,
or otherwise put into effect by the Company during the term of employment, regardless of whether such bylaws, directions, policies,
practices, rules, regulations, and procedures are oral or are set forth in any manual, handbook, or other document, and it is solely
the responsibility of Employee to become and remain fully aware of and familiar with each and all such directions, policies, practices,
rules, regulations, and/or procedures. In the event of any conflict between any provision of this Agreement and any provision of
the Company’s directions, policies, practices, rules, regulations, and/or procedures, the provisions of this Agreement govern
for any and all purposes whatsoever.


 


 


 






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14.           
Indemnification. The Company shall indemnify and hold the Employee harmless from any and all claims, demands,
judgments, liens, subrogation, or costs incurred by the Employee with respect to any shareholder derivative action or other claims
or suits against the Company and/or their respective Boards of Directors by individuals, firms, or entities not a party to this
Agreement to the maximum extent permitted under California law.


 


15.           
General.


 


15.1        
Further Documents. Each party shall execute and deliver all further instruments, documents, and papers, and
shall perform any and all acts necessary reasonably requested by the other party, to give full force and effect to all of the terms
and provisions of this Agreement.


 


15.2        
Successors and Assigns. Except where expressly provided to the contrary, this Agreement, and all provisions
hereof, shall inure to the benefit of and be binding upon the parties hereto, their successors in interest, assigns, administrators,
executors, heirs, and devises.


 


15.3        
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as
to be effective and valid under applicable law. If any provision of this Agreement, as applied to any party or to any circumstance,
shall be found by a court or arbitrator to be invalid or unenforceable under applicable law, such provision will be ineffective
only to the extent of such invalidity or unenforceability, without invalidating or rendering unenforceable the remainder of such
provision, and any such invalidity or unenforceability shall in no way affect any other provision of this Agreement, the application
of any provision in any other circumstance or the validity or enforceability of this Agreement.


 


15.4        
Notices. All notices or demands shall be in writing and shall be served personally, telegraphically, or by
express or certified mail. Service shall be deemed conclusively made at the time of service if personally served, 24 hours after
deposit thereof in the United States mail properly addressed and postage prepaid, return receipt requested, if served by express
Mail, and five days after deposit thereof in the United States mail, properly addressed and postage prepaid, return receipt requested,
if served by certified mail. Any notice or demand to the Company shall be given to:


 


Simulations Plus, Inc.


42505 10th Street West


Lancaster, CA 93534-7059


Attention: Compensation Committee


 


and any notice or demand to the Employee
shall be given to:


 


Shawn O’Connor


PO Box 3360


San Ramon, CA 94583


 


 


Any party may, by virtue of a written notice
in compliance with this Section, alter or change the address or the identity of the person to whom any notice, or copy thereof,
is to be sent.


 


15.5        
Waiver. A waiver by any party of any of the terms and conditions of this Agreement in any one instance shall
not be deemed or construed to be a waiver of the term or condition for the future, or of any subsequent breach thereof or of any
other term or condition thereof. Any party may waive any term, provision or condition included for the benefit of that party. Any
and all waivers shall be in writing.


 


15.6        
Construction. This Agreement shall be governed by and construed in accordance with the laws of the State of
California applicable to contracts entered into and fully to be performed therein without regard to its principles of choice of
law or conflicts of law. In all matters of interpretation, whenever necessary to give effect to any provision of this Agreement,
each gender shall include the others, the singular shall include the plural, the plural shall include the singular and the terms
“and” and “or” may be used interchangeably as the context so requires or implies. The title of the sections
of this Agreement are for convenience only and shall not in any way affect the interpretation of any provision or condition of
this Agreement. All remedies, rights, undertakings, obligations, and agreements contained in this Agreement shall be cumulative
and none of them shall be in limitation of any other remedy, right, undertaking, obligation, or agreement of any party.


 


 


 






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15.7        
Entire Understanding. This Agreement contains the entire understanding of the parties hereto relating to the
subject matter contained herein and supersedes all prior and collateral agreements, understandings, statements, and negotiation
of the parties. Each party acknowledges that no representations, inducements, or promises, oral or written, with reference to the
subject matter hereof have been made other than as expressly set forth herein. This Agreement cannot be changed, rescinded, or
terminated orally.


 


15.8        
Third Party Rights. The parties hereto do not intend to confer any rights or remedies upon any person other
than the parties hereto and those referred to in Section 15.2 hereof so long as any such assignment by Employee was approved by
the Company as provided in Section 11 hereof.


 


15.9        
Attorneys' Fees. In the event of any litigation between the parties respecting or arising out of this Agreement,
the prevailing party shall be entitled to recover reasonable legal fees and costs, whether or not the litigation proceeds to final
judgment or determination.


 


15.10    
Place of Litigation. Any litigation between the parties shall occur in the County of Los Angeles, California.


 


15.11    
Counterparts. This Agreement may be executed in counterparts which, taken together, shall constitute the whole
of the agreement between the parties.


 


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IN WITNESS THEREOF, the parties have executed
this Agreement as of the day and year first above written.


 





	
        Company:

         

        SIMULATIONS PLUS, INC.

         

         

        By: /s/ Walter S. Woltosz

        Walter S. Woltosz, Chairman and CEO

        Date: June 25, 2018
	
        Employee:

         

        Shawn O’Connor

         

         

        /s/ Shawn O’Connor

        Shawn O’Connor

        Date: June 25, 2018

	 	 












 


 


 


 


 


 


 


 


 


 






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