Exhibit 10.16


 


October 24,
2016


 


Robert Horel


 


Reference:
Chief Commercial Officer “CCO”


 


Dear
Rob,


 


On
behalf of HealthLynked Corporation, I am pleased to offer you employment as Chief Commercial Officer, with headquarters based
in Naples, Florida reporting to Dr. Michael Dent, our Chief Executive Officer. Your starting date will be November 28, 2016. You
will be paid as follows:


 


		1.	A
                                         starting annual base salary of $215,000.
	 	 	 



		2.	Monthly
                                         override on all sales at 1.5% of sales (including your own sales) to be paid within 20
                                         days of month end during the next regular payroll cycle.
	 	 	 



		3.	Monthly
                                         commission on all individually generated sales (if any) of an additional 2.5% to be paid
                                         within 20 days of month end during the regular payroll cycle.
	 	 	 



		4.	A
                                         monthly guarantee of $2,500 per month will be offered for the twelve months during 2017.
	 	 	 



		5.	Monthly
                                         car allowance of $650 per month includes all vehicle related costs (i.e. fuel, insurance,
                                         etc.) paid at the beginning of each month.
	 	 	 



		6.	Monthly
                                         communication allowance of $100 per month paid at the beginning of each month.
	 	 	 



		7.	Annual
                                         performance based bonus of up to 50% of salary or $107,500 based upon meeting agreed
                                         upon annual revenue goals starting in 2017 by meeting targeted 2017 revenue goal of $3.2M
                                         of Network Revenue to be paid as earned within 45 days of year end.



 


In
addition to your cash compensation, the Company will be offering you a performance & time based equity incentive plan with
a three-year vesting period as follows:


 


Time-Based
Vesting


 


50,000
Share options of HealthLynked stock will vest at your first year anniversary


 


75,000
Share options will vest at your second year anniversary


 


14,583
Share options will vest each month at the 25th monthly anniversary and continue on each monthly anniversary thereafter until your
3rd year anniversary.


 


Company
Performance-Based Vesting


 


100,000
Share options if the Company achieves the board approved budgeted Network Revenue goals for FY 2017;


 


50,000
Share options based upon your individual performance goals as set by the CEO for FY 2017


 


 


 


 


1726
Medical Blvd. Suite 101 Naples FL, 34110      Cell 561 955-0727 Office      239 513-1992


Email
goleary@healthlynked.com                     www.healthlynked.com



 






     


     


    

 


100,000
Share options if the Company achieves the board approved budgeted Network Revenue goals for FY 2018;


 


50,000
Share options based upon your individual goals set by the CEO for FY 2018


 


100,000
Share options if the Company achieves the board approved budgeted Network Revenue goals for FY 2019.


 


50,000
Share options based upon your individual goals set by the CEO for FY 2019.


 


The
strike price of the options will initially be $0.20/share for 2017 options and will reset at the publicly traded ending stock
price at January1 for the next two subsequent years.


 


You
understand that the Company’s stock option plan requires that any employee who leaves the employment of the Company will
have no more than three (3) months from their termination date to exercise any vested options.


 


Your
first 90 days of employment with MedOfficeDirect, LLC are considered an introductory period with the company. After the successful
completion of the introductory period, you will be eligible to participate in our Company benefits program. During your introductory
period the Company will pay your COBRA benefits of up to $750 per month, or put you on the Company’s benefit plan if feasible
during that time. For your employee benefits, the Company will contribute


$750
per month of your selected benefit plan.


 


We
are looking forward to you joining the HealthLynked team. Please sign and date a copy of this letter and return to my attention.
We are confident that your exceptional background and outstanding ability to achieve results will be a great fit for HealthLynked.
If you have any questions you can call me at 239-331-1943 or email me at mdent1@comcast.net.


  


	Respectfully,	 
	 	 
	Dr.
    Michael Dent	
	Chief Executive Officer	



 


	Acceptance:	 
	 	 
	/s/ Rob Horel	27 OCT 16
	Rob Horel	Date






 


 


 


 


1726
Medical Blvd. Suite 101 Naples FL, 34110      Cell 561 955-0727 Office      239 513-1992


Email
goleary@healthlynked.com                     www.healthlynked.com