Exhibit 10.1


 


EMPLOYMENT AGREEMENT


 


THIS EMPLOYMENT
AGREEMENT (the "Agreement") is made and entered into as of this 28 day of June, 2021 (the "Effective Date"),
by and between Aikido Pharma Inc., a Delaware corporation with offices at 1 Rockefeller Plaza, 11th Floor; New York, NY 10010
(the "Corporation"), and Anthony Hayes, an individual residing at 3009 John Vaughan Rd, Williamsburg, VA 23185 (the "Executive"),
under the following circumstances:


 


RECITALS:


 


A. The
Corporation desires to secure the services of the Executive upon the terms and conditions hereinafter set forth;


 


B. The
Executive desires to render services to the Corporation upon the terms and conditions hereinafter set forth; and


 


C. The
Corporation and the Executive desire for this Agreement to constitute and embody their full and complete understanding and agreement with
respect to the Executive's employment by the Corporation and supersede, as of the Effective Date, all prior understandings and agreements,
whether oral or written, between them with respect to such employment, including but not limited to, the Employment Agreement dated September
6, 2013, April 1, 2016 and October 2017 (the "Prior Agreements").


 


NOW, THEREFORE, the parties mutually agree as follows:


 


1. Employment.
The Corporation hereby employs the Executive, and the Executive hereby accepts employment as an executive of the Corporation, subject
to the terms and conditions set forth in this Agreement.


 


2. Duties.
The Executive shall serve as the Chief Executive Officer of the Corporation, with such duties, responsibilities, and authority as are
commensurate and consistent with his position, and such other duties, responsibilities and authority as may be, from time to time, reasonably
assigned to him by the Board of Directors (the "Board") or Chairman of the Board of the Corporation. The Executive shall
report directly to the Chairman of the Board of the Corporation. During the Term (as defined in Section 3), the Executive shall devote
his business time and efforts to the performance of his duties hereunder unless otherwise authorized by the Board. Notwithstanding the
foregoing, the expenditure of reasonable amounts of time by the Executive for the making of passive personal investments, the conduct
of private business affairs, and charitable and professional activities shall be allowed, provided such activities do not materially interfere
with the services required to be rendered to the Corporation hereunder and do not violate the confidentiality provisions set forth in
Section 8 below. For the avoidance of doubt, Executive may invest or be involved with other ventures and investments, including
intellectual property or pharmaceutical related ventures and investments, (hereafter "Other Investments"), so long as
all Other Investments are disclosed to the Corporation and the Corporation determines that Executive's involvement in any Other Investment
does not contravene any provisions of this Agreement or will breach any of Executive's duties to Company or its stockholders.


 


3. Term of
Employment. The term of this Agreement shall be for a three (3) years (the "Initial Term") and automatically be
extended for additional terms of one (1) year each (each a "Renewal Term")
unless either party gives prior written notice of non-renewal to the other party no later than six (6) months prior to the
expiration of the Initial Term ("Non-Renewal Notice"), or the then current Renewal Term, as the case may be. For
purposes of this Agreement, the Initial Term and any Renewal Term are hereinafter collectively referred to as the
"Term."


 






    


     


    

 


 4. Compensation of Executive.




 


(a) The
Corporation shall pay the Executive as compensation for his services hereunder , in equal semi-monthly or bi-weekly installments during
the Term, the sum of $500,000 per annum (as in effect from time to time, the "Base Salary"), less such deductions as shall be
required to be withheld by applicable law and regulations. The Corporation shall review the Base Salary on an annual basis and has the
right but not the obligation to increase it, but has no right to decrease the Base Salary.


 


(b) In
addition to the Base Salary set forth in Section 4(a) above, the Executive shall be entitled to receive an annual cash bonus
("Annual Bonus") in an amount equal to $250,000.00 at the discretion of the Compensation Committee of the Board
(the "Compensation Committee"). Annual Bonuses shall be paid by the Corporation to the Executive promptly after the
year end, it being understood that the Compensation Committee's determinations concerning attainment of any financial targets
associated with any bonus determination shall not be determined until following the completion of the Corporation 's annual audit
and public announcement of such results and shall be paid promptly following the Corporation's announcement of earnings, but in no
event later than April 15th of the year following the year for which it is being paid (and if the Executive was employed as of last
day of the calendar year to which such Annual Bonus relates, then the Executive shall be entitled to the Annual Bonus for such year,
even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year). For the avoidance of doubt,
if Executive is employed upon expiration of the term of this Agreement, he shall be entitled to the Annual Bonus for such last year
on a pro-rata basis through the last date of employment, even if he is not employed by the Corporation on the date the Annual Bonus
is paid for such last year. In his sole discretion, the Executive may elect to receive such annual bonus in common stock of the
Corporation at the basis determined by the Compensation Committee in good faith.


 


(c) The
Corporation shall pay or reimburse the Executive for all reasonable out- of-pocket expenses actually incurred or paid by the Executive
in the course of his employment, consistent with the Corporation's policy for reimbursement of expenses from time to time.


 


(d) The
Executive shall be entitled to participate in such pension, profit sharing, group insurance, hospitalization, and group health and benefit
plans and all other benefits and plans, including perquisites, if any, as the Corporation provides to its senior executives, including
group family health insurance coverage, which shall be paid by the Corporation (the "Benefit Plans"). Ifat
any time during the Term, the Corporation does not provide its senior executives with health insurance (including hospitalization) under
a Benefit Plan, Executive shall be entitled to secure such health insurance for himself and his immediate family (i.e., spouse and natural
born children) and the Corporation shall reimburse Executive for the cost of such insurance promptly after payment by the Executive for
such insurance. For the avoidance of doubt, Executive shall be entitled to secure health insurance from high quality companies such as
Blue Cross/Blue Shield, United, or Emblem, and the ability to select a no or low deductible plan. If Executive secures such health insurance,
such health insurance shall be deemed to be a Benefit Plan hereunder.


 


(e) The
Corporation shall execute and deliver in favor of the Executive an indemnification agreement on the same terms and conditions entered
into with the other officers and directors of the Corporation. Such agreement shall provide for the indemnification of the Executive for
the term of his employment and for a period of at least six (6) years thereafter. The Corporation shall maintain directors' and officers'
insurance during the Term and for a period of at least six (6) years thereafter.


 


(f) The
Corporation shall also maintain (or hire, if applicable) an executive assistant to assist the Executive with his duties.




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 5. Termination.




 


(a) This
Agreement and the Executive's employment hereunder shall terminate upon the happening of any of the following events:


 


		(i)	upon the Executive's death:



 


		(ii)	upon the Executive's "Total Disability” (as herein defined);



 


		(iii)	upon the expiration of the Initial Term of this Agreement or any
Renewal Term thereof, if either party has provided a timely Non-Renewal Notice in accordance with Section 3, above;



 


		(iv)	at the Executive's option, upon ninety (90) days prior written
notice to the Corporation (other than under the circumstances set forth in Section 5(b)(viii));



 


		(v)	at the Executive's option, in the event of an act by the Corporation,
defined in Section 5(c), below, as constituting "Good Reason" for termination by the Executive;



 


		(vi)	at the Corporation's option, in the event of an act or inaction
by the Executive, defined in Section 5(d), below, as constituting "Cause" for termination by the Corporation;



 


		(vii)	at the Executive's option, upon written notice to the Corporation
at any time within forty (40) days of the consummation of a Change in Control Transaction.



 


(b) For
purposes of this Agreement, the Executive shall be deemed to be suffering from a "Total Disability" if the Executive
has failed to perform his regular and customary duties to the Corporation for a period of 180 days out of any 360-day period and if before
the Executive has become "Rehabilitated" (as herein defined) a majority of the members of the Board, exclusive of the Executive,
vote to determine that the Executive is mentally or physically incapable or unable to continue to perform such regular and customary duties
of employment. As used herein, the term "Rehabilitated" shall mean such time as the Executive is willing, able, and commences
to devote his time and energies to the affairs of the Corporation to the extent and in the manner that he did so prior to his Total Disability.


 


(c) For
purposes of this Agreement, the term "Good Reason" shall mean that the Executive has resigned due to: (i) a
material diminution of duties inconsistent with Executive's title, authority, duties, and responsibilities (including, without
limitation, a change in the chain of reporting); (ii) any material violation by the Corporation of its obligations (including,
without limitation, its compensation obligations) under this Agreement; provided that the Executive has given written notice to the
Corporation within ninety (90) days of Executive's knowledge of the initial occurrence of such event, and the Corporation has failed
to cure such acts within thirty (30) days of receipt of such notice, if curable, and the Executive must then terminate his
employment within thirty (30) days following the expiration of such cure period for the termination to be on account of Good Reason.
For purposes of this Agreement, the term "Change in Control Transaction" means the sale of the Corporation to an
un- affiliated person or entity or group of un-affiliated persons or entities pursuant to which such party or parties acquire (i)
shares of capital stock of the Corporation representing at least fifty percent (50%) of outstanding capital stock or sufficient to
elect a majority of the Board or of the board of directors of the Corporation (whether by merger, consolidation, sale, or transfer
of shares (other than a merger where the Corporation is the surviving corporation and the shareholders and directors of the
Corporation prior to the merger constitute a majority of the shareholders and directors, respectively, of the surviving corporation
(or its parent)) or (ii) all or substantially all of the Corporation's assets determined on a consolidated basis. Any equity grants
issued to the Executive pursuant to the terms of this Agreement shall be immediately vested upon consummation of a Change in Control
Transaction.


 






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(d) For
purposes of this Agreement, the term "Cause" shall mean any material breach of this Agreement or material, gross, and willful
misconduct on the part of the Executive in connection with his employment duties hereunder, in all cases that is not cured within fourteen
(14) days after receipt of notice thereof (to the extent such breach is capable of being cured), or the Executive's conviction of or entering
of a guilty plea or a plea of no contest with respect to a felony or any crime involving fraud, larceny, or embezzlement resulting in
material harm to the Corporation by the Executive.


 


 6. Effects of Termination.




 


Upon any termination
of employment for any reason, whether by the Executive or the Corporation, the Executive shall be paid accrued but unpaid compensation
and vacation pay through the date of termination and any other benefits accrued to him under any Benefit Plans outstanding at the date
of termination and the reimbursement of documented, unreimbursed expenses incurred on or prior to such date, all paid as promptly as practicable
and in accordance with applicable law, and the Executive shall have any conversion rights available under the Corporation's Benefit Plans
and as otherwise provided by law, including the Consolidated Omnibus Budget Reconciliation Act and any similar state law or regulation
(collectively, "COBRA Rights").


 


The following
provisions apply to specified termination events. Any Annual Bonus (including any pro-rated Annual Bonus) payable pursuant to the following
provisions shall be paid at the same time that it would have been paid if the Executive's employment had not terminated.


 


(a)
Upon termination of the Executive's employment pursuant to Section 5(a)(i) (Death) or (ii) (Disability), in addition to the accrued
but unpaid compensation and vacation pay through the date of death or Total Disability and any other benefits accrued to him under
any Benefit Plans outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such date,
the Executive or his estate or beneficiaries, as applicable, shall be entitled to the following severance benefits: (i) twelve (12)
months' Base Salary at the then current rate, payable in a lump sum, less withholding of applicable taxes, within thirty (30) days
of the date of termination; (ii) if the Executive elects continuation coverage for group health coverage pursuant to COBRA Rights,
then for a period of twelve (12) months following the Executive's termination he will be obligated to pay only the portion of the
full COBRA Rights cost of the coverage equal to an active employee's share of premiums (if any) for coverage forthe respective plan
year and, to the extent required by any applicable nondiscrimination rules, the Company's share of such premiums (the
"Employer-Provided COBRA Premium") shall be treated as taxable income to the Executive; and (iii) payment on a pro-rated
basis of any Annual Bonus or other payments earned in connection with any bonus plan to which the Executive was a participant as of
the date of death or Total Disability. This Section 6(a) shall not terminate or otherwise interfere with any right to disability
payments.


 






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(b) Upon
termination of the Executive's employment pursuant to Section 5(a)(iii) (Expiration of Term), where the Corporation has offered to renew
the term of the Executive's employment for an additional one (1) year period and the Executive chooses not to continue in the employ of
the Corporation, the Executive shall be entitled to receive only the accrued but unpaid compensation and vacation pay through the date
of termination, payment on a pro-rated basis of any Annual Bonus, or other payments earned in connection with any bonus plan to which
the Executive was a participant as of the date of the Executive's termination of employment, any other benefits accrued to him under any
Benefit Plans outstanding at such time, and the reimbursement of documented, unreimbursed expenses incurred prior to such date. In the
event the Corporation tenders a Non-Renewal Notice to the Executive, then the Executive shall be entitled to the same severance benefits
as if the Executive's employment were terminated pursuant to Section 5(a)(v); provided, however, if such Non-Renewal Notice was
triggered due to the Corporation's statement that the Executive's employment was terminated due to Section 5(a)(vi) (for "Cause"),
then payment of severance benefits will be contingent upon a determination as to whether termination was properly for "Cause."


 


(c) Upon termination of
the Executive's employment pursuant to Section 5(a)(v) (Termination for Good Reason), 5(a)(vii) (Termination by the Company Without
Cause) or 5(a)(viii) (Termination Within Thirty Days of a Change in Control), in addition to the accrued but unpaid compensation and
vacation through the date of termination and any other benefits accrued to him under any Benefit Plans outstanding at such time and
the reimbursement of documented, unreimbursed expenses incurred prior to such date, the Executive shall be entitled to the following
severance benefits: (i) twelve (12) months' Base Salary at the then current rate, to be paid in a single lump sum payment not later
than thirty (30) days following such termination, less withholding of all applicable taxes; (ii) if the Executive elects
continuation coverage for group health coverage pursuant to COBRA Rights, then for a period of twelve (12) months following the
Executive's termination he will be obligated to pay only the portion of the full COBRA Rights cost of the coverage equal to an
active employee's share of premiums (if any) for coverage for the respective plan year and, to the extent required by any applicable
nondiscrimination rules, the Employer-Provided COBRA Premium shall be treated as taxable income to the Executive; and (iii) payment
on a pro-rated basis of any Annual Bonus or other payments earned in connection with any bonus plan to which the Executive was a
participant as of the date of the Executive's termination of employment. In addition, any equity grants to Executive shall be
immediately vested upon termination of Executive's employment pursuant to Section 5(a)(v) or 5(a)(vii).


 




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(d) Upon
termination of the Executive's employment pursuant to Section S(a)(iv) (Voluntary Termination by Executive) or (vi) (Termination by the
Company for Cause), in addition to the reimbursement of documented, unreimbursed expenses incurred prior to such date, the Executive shall
be entitled to the following severance benefits: (i) accrued and unpaid Base Salary and vacation pay through the date of termination,
less withholding of applicable taxes; and (ii) if the Executive elects continuation coverage for group health coverage pursuant to COBRA
Rights, then, for a period of one ( l ) month following the Executive's termination, he will be obligated to pay only the portion of the
full COBRA Rights cost of the coverage equal to an active employee's share of premiums (if any) for coverage for one month of the respective
plan year and, to the extent required by any applicable nondiscrimination rules, the Employer-Provided COBRA Premium shall be treated
as taxable income to the Executive.


 


(e) Any
payments required to be made hereunder by the Corporation to the Executive shall continue to the Executive's beneficiaries in the event
of his death until paid in full.


 


7. Vacations.
The Executive shall be entitled to a vacation of four (4) weeks per year, during which period his Base Salary shall be paid in full. The
Executive shall take his vacation at such time or times as the Executive and the Corporation shall determine is mutually convenient. Any
vacation not taken in two (2) years shall accrue, up to a maximum of six (6) weeks of vacation, and shall carry over to the subsequent
year.


 


8. Disclosure
of Confidential Information. The Executive recognizes, acknowledges and agrees that he has had and will continue to have access to
secret and confidential information regarding the Corporation, including but not limited to, its products, formulae, patents, sources
of supply, customer dealings, data, know-how, and business plans, provided such information is not in or does not hereafter become part
of the public domain, or become known to others through no fault of the Executive. The Executive acknowledges that such information is
of great value to the Corporation, is the sole property of the Corporation, and has been and will be acquired by him in confidence. In
consideration of the obligations undertaken by the Corporation herein, the Executive will not, at any time, during or after his employment
hereunder, reveal, divulge, or make known to any person any information acquired by the Executive during the course of his employment,
which is treated as confidential by the Corporation, and not otherwise in the public domain. The provisions of this Section 8 shall survive
the termination of the Executive's employment hereunder. All references to the Corporation in Section 8 and Section 9 hereof shall include
any subsidiary of the Corporation.


 


9. Clawback
Rights. The Annual Bonus, and any and all stock-based compensation (such as options and equity awards) (collectively, the
"Clawback Benefits") shall be subject to "Corporation Clawback Rights" as follows: During the
period that the Executive is employed by the Corporation and upon the termination of the Executive's employment and for a period of
three (3) years thereafter, if there is a restatement of any financial results from which any Clawback Benefits to Executive shall
have been determined, Executive agrees to repay any amounts that were determined by reference to any Corporation financial results
that were later restated (as defined below), to the extent the Clawback Benefits amounts paid exceed the Clawback Benefits amounts
that would have been paid, based on the restatement of the Corporation's financial information. All Clawback Benefits amounts
resulting from such restated financial results shall be retroactively adjusted by the Compensation Committee to take into account
the restated results, and any excess portion of the Clawback Benefits resulting from such restated results shall be immediately
surrendered to the Corporation and if not so surrendered within ninety (90) days of the revised calculation being provided to the
Executive by the Compensation Committee following a publicly announced restatement, the Corporation shall have the right to take any
and all action to effectuate such adjustment. The calculation of the Revised Clawback Benefits amount shall be determined by the
Compensation Committee in good faith and applicable laws, rules, and regulations. All determinations by the Compensation Committee
with respect to the Clawback Rights shall be final and binding on the Corporation and Executive. The Clawback Rights shall terminate
following a Change of Control, subject to applicable laws, rules, and regulations. For purposes of this Section 9, a restatement of
financial results that requires a repayment of a portion of the Clawback Benefits amounts shall mean a restatement resulting from
material non- compliance of the Corporation with any financial reporting requirement under the federal securities laws and shall not
include a restatement of financial results resulting from subsequent changes in accounting pronouncements or requirements that were
not in effect on the date the financial statements were originally prepared ("Restatements"). The parties
acknowledge it is their intention that the foregoing Clawback Rights as relates to Restatements conform in all respects to the
provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Dodd-Frank Act") and
requires recovery of all "incentive-based" compensation, pursuant to the provisions of the Dodd-Frank Act and any and all
rules and regulations promulgated thereunder from time to time in effect. Accordingly, the terms and conditions of this Agreement
shall be deemed automatically amended from time to time to the extent required to assure compliance with the Dodd-Frank Act or any
applicable rules or regulations enacted thereunder that may be adopted by the Securities and Exchange Commission or any stock
exchange on which the securities of the Company are listed.


 






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 10. Section 409A.




 


(a) The
provisions of this Agreement are intended to comply with or be exempt from Section 409A of the Internal Revenue Code of 1986, as amended
(the "Code") and any final regulations and guidance prom ulgated thereunder ("Section 409A") and shall
be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. The Corporation and Executive
agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions that are necessary,
appropriate, or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section
409A.


 


(b) To
the extent that Executive will be reimbursed for costs and expenses or in- kind benefits, except as otherwise permitted by Section 409A,
(i) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit; (ii) the amount of expenses
eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement,
or in-kind benefits to be provided, in any other taxable year; provided that the foregoing clause (ii) shall not be violated with regard
to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit
related to the period the arrangement is in effect; and (iii) such payments shall be made on or before the last day of the taxable year
following the taxable year in which Executive incurred the expense.


 




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(c) A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment
of any amounts or benefits upon or following a termination of employment unless such termination constitutes a "Separation from Service"
within the meaning of Section 409A and, for purposes of any such provision of this Agreement references to a "termination,"
"termination of employment," or like terms shall mean Separation from Service.


 


(d) Each
installment payable hereunder shall constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b), including Treasury
Regulation Section l.409A-2(b)(2)(iii). Each payment that is made within the terms of the "short-term deferral" rule set forth
in Treasury Regulation Section 1.409A-l (b)(4) is intended to meet the "short-term deferral" rule. Each other payment is intended
to be a payment upon an involuntary termination from service and payable pursuant to Treasury Regulation Section 1.409A-1(b)(9)(iii),
et seq., to the maximum extent permitted by that regulation, with any amount that is not exempt from Code Section 409A being subject to
Code Section 409A.


 


(e) Notwithstanding
anything to the contrary in this Agreement, if Executive is a "specified employee" within the meaning of Section 409A at
the time of Executive's termination, then only that portion of the severance and benefits payable to Executive pursuant to this
Agreement, if any, and any other severance payments or separation benefits that may be considered deferred compensation under
Section 409A (together, the "Deferred Compensation Separation Benefits"), which (when considered together) do not exceed
the Section 409A Limit (as defined herein) may be made within the first six (6) months following Executive's termination of
employment in accordance with the payment schedule applicable to each payment or benefit. Any portion of the Deferred Compensation
Separation Benefits in excess of the Section 409A Limit otherwise due to Executive on or within the six (6) month period following
Executive's termination will accrue during such six (6) month period and will become payable in one lump sum cash payment on the
date six (6) months and one (1) day following the date of Executive's termination of employment. All subsequent Deferred
Compensation Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or
benefit. Notwithstanding anything herein to the contrary, if Executive dies following termination but prior to the six (6) month
anniversary of Executive's termination date, then any payments delayed in accordance with this paragraph will be payable in a lump
sum as soon as administratively practicable after the date of Executive's death and all other Deferred Compensation Separation
Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit.


 


(f) For purposes of this
Agreement, "Section 409A Limit" will mean a sum equal(x) to the amounts payable prior to March 15 following the year in
which Executive terminations plus (y) the lesser of two (2) times: (i) Executive's annualized compensation based upon the annual
rate of pay paid to Executive during the Corporation's taxable year preceding the Corporation's taxable year of Executive's
termination of employment as determined under Treasury Regulation 1.409A- 1(b)(9)(iii)(A)(l ) and any IRS guidance issued with
respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(l 7) of
the Code for the year in which Executive's employment is terminated.


 




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 11. Miscellaneous.




 


(a) The
Executive acknowledges that the services to be rendered by him under the provisions of this Agreement are of a special, unique, and extraordinary
character and that it would be difficult or impossible to replace such services. Accordingly, the Executive agrees that any breach or
threatened breach by him of Sections 8 or 9 of this Agreement shall entitle the Corporation, in addition to all other legal remedies available
to it, to apply to any court of competent jurisdiction to seek to enjoin such breach or threatened breach. The parties understand and
intend that each restriction agreed to by the Executive hereinabove shall be construed as separable and divisible from every other restriction,
that the unenforceability of any restriction shall not limit the enforceability, in whole or in part, of any other restriction, and that
one or more or all of such restrictions may be enforced in whole or in part as the circumstances warrant. In the event that any restriction
in this Agreement is more restrictive than permitted by law in the jurisdiction in which the Corporation seeks enforcement thereof, such
restriction shall be limited to the extent permitted by law. The remedy of injunctive relief herein set forth shall be in addition to,
and not in lieu of, any other rights or remedies that the Corporation may have at law or in equity.


 


(b) Neither
the Executive nor the Corporation may assign or delegate any of their rights or duties under this Agreement without the express written
consent of the other; provided however that the Corporation shall have the right to delegate its obligation of payment of all sums due
to the Executive hereunder, provided that such delegation shall not relieve the Corporation of any of its obligations hereunder.


 


(c) This
Agreement constitutes and embodies the full and complete understanding and agreement of the parties with respect to the Executive's employment
by the Corporation, supersedes, as of the Effective Date, all prior understandings and agreements, whether oral or written, between the
Executive and the Corporation with respect to such employment, including but not limited to, the Prior Agreement, and shall not be amended,
modified, or changed except by an instrument in writing executed by the party to be charged. The invalidity or partial invalidity of one
or more provisions of this Agreement shall not invalidate any other provision of this Agreement. No waiver by either party of any provision
or condition to be performed shall be deemed a waiver of similar or dissimilar provisions or conditions at the same time or any prior
or subsequent time.


 


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


 


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


 


(f) All
notices, requests, demands, and other communications required or permitted to be given hereunder shall be in writing and shall be
deemed to have been duly given when personally delivered, sent by registered or certified mail, return receipt requested, postage
prepaid, or by private overnight mail service (e.g. Federal Express) to the party at the address set forth above or to such other
address as either party may hereafter give notice of in accordance with the provisions hereof. Notices shall be deemed given on the
sooner of the date actually received or the third business day after sending.


 






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(g) This
Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without reference to principles
of conflicts of laws and each of the parties hereto irrevocably consents to the jurisdiction and venue of the federal and state courts
located in the State of New York.


 


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


 


	CORPORATION:	 
	 	 	 
	Aikido Pharma Inc.	 
	 	 
	By:	/s/ Kyle Wool	 
	Title:	Kyle Wool -Duly Authorized Chairman of the Compensation
Comminee	 



 


 


	EXECUTIVE:	 
	 	 
	/s/ Anthony Hayes	 
	Anthony Hayes	 



 


 


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