Exhibit 10.2


 


EMPLOYMENT
AGREEMENT


 


This
EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 1st day of April, 2019
(the “Effective Date”), by and between BoxScore Brands, Inc., a Delaware corporation (the “Company”),
and Michael P. Flanagan, an individual (the “Employee”).


 


1.
Employment Period. The Company hereby agrees to employ the Employee as its Chief Executive Officer, and President,
the Employee, in such capacity, agrees to provide services to the Company for the term beginning on the Effective Date (the “Commencement
Date”) and ending on April 1, 2021, unless earlier terminated in accordance with this Agreement (the “Initial
Term”).


 


This
Agreement shall be extended for additional one year terms (each such term, a “Renewal Term”), unless either
the Board of Directors of the Company (the “Board”) or the Employee objects to such extension by delivering
written notice to the other party at least ninety (90) days prior to the expiration of the Initial Term or the applicable Renewal
Term. Such notice, if given by either party and not withdrawn prior to the end of the applicable year, shall be deemed
a termination of Employee’s employment by the party who delivered such notice under this Agreement. The Initial
Term and each Renewal Term shall be collectively referred to herein as the “Employment Period”.


 


2.
Performance of Duties. The Employee agrees that during the Employment Period, while he is employed by the Company,
he shall devote 100% of his full working time, energies and talents performing the duties assigned to him by the Board faithfully,
efficiently and in a professional manner. It is understood by the employee that he may not enter the company into any and all
material contractual obligations without pre-approval by the Board of Directors. During the Employment Period, the Employee may
not engage, undertake or be interested in (whether directly or indirectly) any other employment, business or occupation or become
a director or employee or agent or consultant or partner of any other person, officer or company which either individually or
in the aggregate would violate the immediately preceding sentence without the prior written consent of the Board.


 


3.
Compensation. Subject to the terms and conditions of this Agreement, during the Employment Period, the Employee
shall be compensated by the Company for his services as follows:


 


(a)
He shall receive, for the Initial Term and each Renewal Term, if any, a rate of salary that is not less than $10,000 (USD)
Dollars per month (the “Salary”), payable monthly and subject to normal and customary tax withholding and other
deductions, all on a basis consistent with the Company’s normal payroll procedures and policies. During (i) the thirty (30)
day period prior to the expiration of each successive twelve (12) month period during the Initial Term, and (ii) the thirty (30)
day period prior to the commencement of any Renewal Term, the Employee’s salary rate shall be reviewed by the Board to determine
whether an increase in his rate of compensation is appropriate, which determination shall be within the sole discretion of the
Board. The Employee will also receive an annual bonus equal to 10% of sales, in excess of $1,200,000 up to a total compensation
of up to $250,000.


 


(b)
Any employee bonus will be at the discretion of the Board of Directors and based on financial performance of the company in conjunction
with the performance of the common stock price among other factors deemed reasonable and applicable by the Board of Directors.


 


(c)
He shall be reimbursed by the Company for all reasonable business, promotional, travel and entertainment expenses which are pre-approved
by the Chairman of the Board and or full Board of Directors and subsequently incurred or paid by him during the employment period
in the performance of his services under this Agreement that are consistent with the Company’s policies in effect from time
to time, provided that the Employee furnishes to the Company appropriate documentation in a timely fashion required by the Internal
Revenue Code in connection with such expenses and shall furnish such other documentation and accounting as the Company may from
time to time reasonably request.


 


(d)
He shall be entitled to all scheduled holidays of the Company, and a minimum of twenty (20) days of paid vacation per year (subject
to increase in the sole discretion of the Board and subject to Company policy).


 


(e)
He shall be eligible to participate in the benefits made generally available by the Company to the Employee management team, in
accordance with the benefit plans established by the Company, and as may be amended from time to time in the Company’s sole
discretion. It is understood by the employee that all benefits are pre-approved by the Board of Directors.


 






    


     


    

 


4.
Termination. The Employee’s employment hereunder may be terminated prior to the expiration of the Employment
Period under the following circumstances:


 


(a)
Death. The Employee’s employment hereunder shall terminate upon his death.


 


(b)
Total Disability. The Company may terminate Employee’s employment upon the Employee becoming “Totally Disabled.” For
purposes of this Agreement, “Totally Disabled” means any physical or mental ailment or incapacity as determined
by a licensed physician in good standing, which has prevented, or is reasonably expected (as determined by a licensed physician
in good standing) to prevent, the Employee from performing the duties incident to the Employee’s employment hereunder which
has continued for a period of either (A) one hundred twenty (120) consecutive days or (B) two hundred ten (210) total days in
any twelve (12) month period; provided, however, that the Employee receives at least thirty (30) days written notice
prior to such termination.


 


(c)
Termination by the Company for Cause. The Company may terminate Employee’s employment hereunder for “Cause.”
For purposes of this Agreement, “Cause” shall mean:


 


	 	(i) 	any act or omission that constitutes a material breach
by the Employee of any of his obligations under this Agreement;
	 	(ii) 	the refusal or failure by the Employee to carry out
specific reasonable directions of the Board, which are of a material nature and consistent with the Employee’s position;
	 	(iii) 	the refusal or failure by the Employee to satisfactorily
perform the duties reasonably required of him by the Company in his capacity as Chief Executive Officer of the Company;
	 	(iv) 	the Employee engaging in any misconduct, fraud or dishonest
action (including, without limitation, theft or embezzlement), violence, threat of violence, or any activity that could result
in any violation of federal securities laws, in each case that is injurious to the Company or any of its subsidiaries or affiliates;
	 	(v)	the Employee’s material breach of a written policy
of the Company;
	 	(vi) 	the conviction of the Employee of, or plea of nolo contendere
to, a felony under federal or state law, or a crime involving dishonesty or moral turpitude, or which could reflect negatively
upon the Company or otherwise impair or impede its operations (as determined in the reasonable discretion of the Board); or
	 	(vii) 	any other wilful misconduct by the Employee which is
materially injurious to the financial condition or business reputation of the Company or any of its affiliates.
	 	(viii)	insolvency of the Company through the protection of
the bankruptcy codes, assignment for the benefit of creditors (ABC), or any and all public or private insolvency options available
to the Company.




 


Notwithstanding
the foregoing, “Cause” for termination shall not be deemed to exist with respect to the Employee’s acts
as described in subsections (i), (ii), (iii), (iv) or (vi) above, unless the Company shall have given written notice to the Employee
within a period not to exceed fifteen (15) days of the Company’s knowledge of the initial existence of the occurrence, specifying
the “Cause” with reasonable particularity and, within thirty (30) days after such notice, the Employee shall not have
cured or eliminated the problem or thing giving rise to such “Cause;” provided, however, no more than
two (2) cure periods need be provided during any twelve (12) month period. For the avoidance of doubt, Employee shall
not be afforded any cure period with respect to the acts described in subsections (v), (vii),(viii) or (ix) above.


 


(d) Termination
by Employee for Good Reason. Employee may terminate his employment with the Company for Good Reason. For purposes of
this Agreement, “Good Reason” shall mean a termination by the Employee of his employment with the Company
due to a breach by the Company of its material obligations under this Agreement, or any other agreement to which Employee and
Company are both parties; provided, however, that (i) the Employee provides written notice to the Company
specifying in reasonable detail the circumstances claimed to provide the basis for such termination within thirty (30) days
following the occurrence of such events, without the Employee’s consent, (n) if such circumstances are correctable, the
Company fails to correct the circumstances set forth in Employee’s notice of termination within thirty (30) days of
receipt of such notice, and (iii) the Employee actually terminates employment within sixty (60) days following such
occurrence:


 


(e)
Voluntary Termination by the Employee other than for Good Reason. The Employee may terminate his employment
hereunder at any time by providing written notice to the Company at least thirty (30) days prior to his voluntary termination
of employment.


 


(f)
Notice of Termination. Any termination by the Company or by the Employee under this Agreement shall be communicated
by written notice to the other party.


 


For
avoidance of doubt, the Company may not terminate the Employee’s employment hereunder for any reason except for the reasons
described in this Section 4.


 






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5.
Obligations and Compensation Following Termination of Employment. In the event that Employee’s employment
hereunder is terminated, Employee shall have the following obligations and shall be entitled to the following compensation and
benefits upon such termination, and nothing else:


 


(a)
In the event that (A) Employee terminates his employment for Good Reason in accordance with Section 4(d) above, or (B) the Company
terminates his employment in any manner other than pursuant to Section 4(a), Section 4(b) or Section 4(c) above, in any case,
but subject to the Employee’s compliance with the provisions contained in Sections 5(d), 5(e), the Company shall pay to
the Employee: (.i) any accrued but unpaid Salary for services rendered to the date of termination; and (ii) an amount equal to
the Salary at the time of such termination, payable for the remainder of the then-current term (i.e., the Initial Term or any
Renewal Term).


 


(b)
Termination due to Death or Total Disability. In the event that the Employee’s employment is terminated
due to the Employee’s death or by the Company as a result of the Employee being deemed to be Totally Disabled, the Company
shall pay to the Employee the following amounts and nothing else: (i) any accrued but unpaid Salary for services rendered to the
date of termination; and (ii) an amount equal to the Salary at the time of such termination, payable each month, over a
six month period beginning thirty (30) days after the date of such termination in accordance with Section 3(a) above.


 


(c)
Termination by the Company for Cause or Voluntary Termination by Employee other than for Good Reason. In the
event that Employee’s employment is terminated by the Company for Cause pursuant to Section 4(c) above, or due to the Employee’s
voluntary resignation other than for Good Reason pursuant to Section 4(e) above, the Company shall pay to the Employee any accrued
but unpaid Salary for services rendered to the date of termination and nothing else.


 


(d)
Employee’s Obligation to Execute a General Release. In the event that Employee’s employment is terminated
for any reason, the Company’s obligation to pay the Employee the amounts set forth above in this Section 5 (with the exception
of any accrued but unpaid Salary for services rendered on the date of termination) shall be conditioned upon the Employee (or
his estate or beneficiary, as applicable) executing, and the effectiveness within ninety (90) days after such termination of employment
of, a valid waiver and release of all claims that the Employee may have against the Company, Board of Directors, consultants,
advisors, etc. under this Agreement in a form reasonably satisfactory to the Company (which waiver and release of all claims shall
not waive or release claims for amounts payable pursuant to this Agreement or claims Employee may have as a shareholder of the
Company). Notwithstanding the above, Employee agrees not to bring, or cause to bring, any type of legal action against
any member of the Company’s Board of Directors, past or present, for any reason. Employee acknowledges that by being a member
of the Board of Directors they have the ability to influence and approve actions that require Board of Directors approval and,
as such, have an equal voice related to all Board of Directors decisions.


 


(e)
Return of Company Property. In the event that Employee’s employment is terminated for any reason, the
Employee (or his estate or legal representative, as the case may be) shall be obligated to immediately return all properly of
the Company or any of its affiliates in his (or their) possession as of the date of termination, including, but not limited to,
(i) cell phones, personal computers or other electronic devices provided by the Company, including all files resident on such
devices; (ii) all memoranda, notes, records, files or other documentation, whether made or compiled by the Employee alone or in
conjunction with others (regardless of whether such persons are employed by the Company); (iii) all proprietary or other information
of the Company and its affiliates (originals and all copies) which is in the Employee’s control or possession (or that of
his estate or legal representative, as the case may be); and (iv) any and all other property of the Company and its affiliates
which is in the Employee’s control or possession (or that of his estate or legal representative, as the case may be), whether
directly or indirectly.


 


(f)
Transition Services. In the event that either (i) the Employee terminates his employment without Good Reason
in accordance with Section 4(e) above, or (ii) the Employment Period expires pursuant to either party’s non-renewal thereof,
the Employee agrees that after the date of such termination or expiration, as applicable, he shall, for a period not to exceed
ninety (90) days from the effective date of his termination, take all actions as reasonably requested by the Company in order
to transition all of his former job duties and responsibilities to his successor, and the Company shall compensate the Employee
for such services at the pro rata hourly rate of the Employee’s Salary as of the date of the date of the Employee’s
termination.


 


6.
Covenants of Employee. The Employee covenants and agrees that:


 


(a)
Confidential Information. During the Employment Period and at all times thereafter, the Employee shall keep
secret and retain in strictest confidence, and shall not use for his benefit or the benefit of others, except in connection with
the business and affairs of the Company and its affiliates, all confidential matters relating to the Company’s business
or to the Company and its affiliates learned by the Employee heretofore or hereafter directly or indirectly from the Company and
its affiliates, including, without limitation, information with respect to (a) operations, (b) sales figures, (c) profit or loss
figures and financial data, (d) costs, (e) customers, clients, and customer lists (including, without limitation, credit history,
repayment history, financial information and financial statements), and (f) plans (collectively, the “Confidential Information”)
and shall not disclose such Confidential Information to anyone outside of the Company and its affiliates except with the Company’s
express written consent and except for Confidential Information which (1) is at the time of receipt or thereafter becomes publicly
known through no wrongful act of the Employee or (2) is received from a third party not under an obligation to keep such information
confidential and without breach of this Agreement. The Employee further agrees that he shall not make any statement
or disclosure that (a) would be prohibited by applicable Federal or state laws or (b) is intended or reasonably likely to be detrimental
to the Company or any of its subsidiaries or affiliates.


 






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(b)
Non-Solicitation. During the Employment Period and for a six-month period thereafter (the “Restricted
Period”), the Employee shall not, without the Company’s prior written consent, directly or indirectly, knowingly
solicit or encourage any employee of the Company to leave the employment of the Company or hire or participate in hiring any employee
who has left the employment of the Company during the Restricted Period or the six (6) month period prior to the beginning of
the Restricted Period.


 


(c)
Non-Compete.


 


(i)
During the Employment Period and, in the event (A) the Employee’s employment with the Company is terminated for “Cause,”
(B) the Employee resigns from the Company without “Good Reason,” or (C) the Employee elects for the Employment Period
to expire in accordance with Section 1 above, then, also during the Restricted Period, the Employee expressly shall not, directly
or indirectly, without the prior written consent of the Board, own, manage, operate, join, control, franchise, license, receive
compensation or benefits from, or participate in the ownership, management, operation, or control of, or be employed or be otherwise
connected in any manner with, a Competitive Business; provided, however, that the foregoing shall not prohibit the
Employee from acquiring, solely as an investment and through market purchases, securities of any entity which are registered under
Section 12(b) or 12(g) of the Securities Exchange Act of 1934 and which are publicly traded, so long as the Employee is not part
of any control group of such entity and such securities, alone or if converted, do not constitute more than five percent (5%)
of the outstanding voting power of that entity. For purposes of this Section 6(c), “Competitive Business”
means any enterprise in the business that markets, sells, or distributes, via vending kiosks, products or services that are the
same or similar to the products or services the Company markets, sells, or distributes.


 


 (ii)
Employee recognizes that Employee’s services hereunder are of a special, unique, unusual, extraordinary and intellectual
character giving them a peculiar value, the loss of which cannot be reasonably or adequately compensated for in damages, and in
the event of a breach of this Agreement by Employee (particularly, but without limitation, with respect to the provisions hereof
relating to the exclusivity of Employee’s services), the Company shall, in addition to all other remedies available to it,
be entitled to equitable relief by way of an injunction and any other legal or equitable remedies. Anything to the
contrary herein notwithstanding, the Company may seek such equitable relief in any federal or state court in New York and Employee
hereby submits to exclusive jurisdiction in those courts for purposes of this Section (6)(c)(ii). Such exclusive jurisdiction
of courts in New York shall not affect a court’s ability to award equitable relief as provided in Section 7(a) of this Agreement.


 


(d)
Records. All memoranda, notes, lists, records and other documents (and all copies thereof) made or compiled
by the Employee or made available to the Employee by the Company concerning the Company’s business or the Company shall
be the Company’s property and shall be delivered to the Company at any time on request.


 


(e)
Acknowledgment. Employee acknowledges and agrees that the restrictions set forth in this Section 6 are critical
and necessary to protect the Company’s legitimate business interests (including the protection of its Confidential Information);
are reasonably drawn to this end with respect to duration, scope, and otherwise; are not unduly burdensome; are not injurious
to the public interest; and are supported by adequate consideration. Employee also acknowledges and agrees that, in
the event that Employee breaches any of the provisions in this Section 6, the Company shall suffer immediate, irreparable injury
and will, therefore, be entitled to injunctive relief, in addition to any other damages to which it may be entitled, as well as
the costs and reasonable attorneys’ fees it incurs in enforcing its rights under this Section 6. Employee further
acknowledges that any breach or claimed breach of the provisions set forth in this Agreement will not be a defense to enforcement
of the restrictions set forth in this Section 6.


 


(f)
Cessation of Payments and Benefits Upon Breach. Company’s obligations to make any payments or confer any
benefit under this Agreement, other than to pay for all compensation and benefits accrued but unpaid up to the date of termination,
will automatically and immediately terminate in the event that Employee breaches any of the restrictive covenants in this Section
6; provided, however, that Company provides written notice to Employee specifying in reasonable detail the circumstances
claimed to provide the basis for such breach without Company’s consent, of such events.


 






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7.
Rights and Remedies Upon Breach of Restrictive Covenants. If the Employee breaches, or threatens to commit a
breach of, any of the provisions of Section 6 (the “Restrictive Covenants”), the Company shall have the following
rights and remedies (upon compliance with any necessary prerequisites imposed by law upon the availability of such remedies),
each of which rights and remedies shall be independent of the other and severally enforceable, and all of which rights and remedies
shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity:


 


(a)
The right and remedy to have the Restrictive Covenants specifically enforced by any court having equity jurisdiction, including,
without limitation, the right to an entry against the Employee of restraining orders and injunctions (preliminary, mandatory,
temporary and permanent) against violations, threatened or actual, and whether or not then continuing, of such covenants, it being
acknowledged and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money
damages will not provide an adequate remedy to the Company; and


 


(b)
The right and remedy to require the Employee to account for and pay over to the Company all compensation, profits, monies, accruals,
increments or other benefits (collectively, “Benefits”) derived or received by him as the result of any transactions
constituting a breach of the Restrictive Covenants, and the Employee shall account for and pay over such Benefits to the Company.


 


8.
Indemnification.


 


(a)
The Company shall indemnify Employee to the fullest extent permitted by Delaware against all claims, actions, costs, expenses,
liabilities, and losses (including without limitation, attorneys’ fees, judgments, fines, penalties, and ERISA excise taxes),
incurred by Employee in connection with an Identifiable Proceeding that arises from or relates to any acts, events, or omissions
that occur on or after the Effective Date of this Agreement. For purposes of this Section 8, “Identifiable
Proceeding” shall mean any identifiable action, suit, or proceeding, whether civil or criminal, administrative or investigative,
in which Employee is made a party to, or a witness in, such action, suit, or proceeding by reason of the fact that Employee is
or was an officer, director or employee of the Company or is or was serving as an officer, director, shareholder, employee, trustee,
or agent of any other entity at the request of the Company. To the extent that the Company maintains an insurance policy
or policies providing liability insurance for directors, officers, employees, agents or fiduciaries of the Company, Employee shall
be covered by such policy or policies in accordance with its or their terms.


 


(b)
The Company shall advance to Employee all reasonable costs and expenses incurred in connection with an Identifiable Proceeding
within twenty (20) days after receipt by the Company of a written request for such advance. Such request shall include
an itemized list of the costs and expenses expected to be incurred in connection with the Identifiable Proceeding. Employee
shall promptly repay the amount of such advance if ultimately it shall be determined that Employee is not permitted to be indemnified
against such costs and expenses under applicable law. If Employee has commenced or commences legal proceedings in a
court of competent jurisdiction to secure a determination that Employee should be indemnified under applicable law, as provided
in this Section 8. then Employee shall not be required to reimburse the Company for any expense or cost advance until
a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or
have lapsed). Employee’s obligation to reimburse the Company, for expense advances shall be unsecured and no
interest shall be charged thereon.


 


(c)
The Company shall not settle any Identifiable Proceeding or claim in any manner which would impose on Employee any penalty or
limitation without Employee’s prior written consent. Employee will not withhold consent to any proposed settlement
of an Identifiable Proceeding unreasonably.


 


9.
Successors; Assignment. This Agreement shall be binding on, and inure to the benefit of, each of the parties
and their permitted successors and assigns. This Agreement may be assigned by the Company to a successor in interest
in connection with a sale of all or substantially all of the assets or securities of the Company.


 


10.
Severability; Blue Penciling.


 


(a)
The Employee acknowledges and agrees that (i) he has had an opportunity to seek advice of counsel in connection with this Agreement
and (ii) the Restrictive Covenants are reasonable in geographical and temporal scope and in all other respects. If
it is determined that any of the provisions of this Agreement, including, without limitation, any of the Restrictive Covenants,
or any part thereof, is invalid or unenforceable, the remainder of the provisions of this Agreement shall not thereby be affected
and shall be given full effect, without regard to the invalid portions.


 


(b)
If any court determines that any of the covenants contained in this Agreement, including, without limitation, any of the Restrictive
Covenants, or any part thereof, is unenforceable because of the duration or geographical scope of such provision, the duration
or scope of such provision, as the case may be shall be reduced so that such provision becomes enforceable and, in its reduced
form, such provision shall then be enforceable and shall be enforced.


 


11.
Waiver of Breach. The waiver by either the Company or the Employee of a breach of any provision of this Agreement
shall not operate as or be deemed a waiver of any subsequent breach by either the Company or the Employee.


 






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12.
Notice. Any notice to be given hereunder by a party hereto shall be in writing and shall be deemed to have been
given when deposited in the U.S. mail, certified or registered mail, postage prepaid:


 


		(a)	to
                                         the Employee addressed as follows:



 


Michael
P. Flanagan


39
Old Snake Hill Road


Pound
Ridge, NY 10576


 


		(b)	to
                                         the Company addressed as follows:



 


BoxScore
Brands, Inc.


3675
W. Teco Drive, Suite 8


Las
Vegas, NV 89118


 


13.
Amendment. This Agreement may be amended only by mutual agreement of the parties in writing without the consent
of any other person and no person, other than the parties thereto (and the Employee’s estate upon his death), shall have
any rights under or interest in this Agreement or the subject matter hereof.


 


14.
Applicable Law. The provisions of this Agreement shall be governed by and construed in accordance with the internal
laws of the State of Delaware without regard to the conflicts of laws principles thereof. Any dispute is
to be resolved exclusively in the courts of the State of New York.


 


15.
Interpretation. This Agreement shall be construed as a whole, according to its fair meaning, and not in favor
of or against any party. Sections and section headings contained in this Agreement are for reference purposes only,
and shall not affect in any manner the meaning or interpretation of this Agreement. Whenever the context requires,
references to the singular shall include the plural and the plural the singular.


 


16.
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an
original of this Agreement, but all of which together shall constitute one and the same instrument.


 


17.
Authority. Each party represents and warrants that such party has the right, power and authority to enter into
and execute this Agreement and to perform and discharge all of the obligations hereunder; and that this Agreement constitutes
the valid and legally binding agreement and obligation of such party and is enforceable in accordance with its terms.


 


18.
Entire Agreement. This Agreement is intended to be the final, complete, and exclusive statement of the terms
of Employee’s employment by the Company and may not be contradicted by evidence of any prior or contemporaneous statements
or agreements, except for agreements specifically referenced herein. To the extent that the practices, policies or
procedures of the Company, now or in the future, apply to Employee and are inconsistent with the terms of this Agreement, the
provisions of this Agreement shall control. Any subsequent change in Employee’s duties, position, or compensation
will not affect the validity or scope of this Agreement.


 


[remainder
of page intentionally left blank; signature page to follow]


 




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[Signature
Page to Employment Agreement]


 


IN
WITNESS WHEREOF, the Employee and the Company have executed this Employment Agreement as of the Effective Date.


 


	 	“Employee”
	 	 
	 	 
	 	Name
	 	 
	 	“Company”
	 	 
	 	BoxScore
    Brands, INC.
	 	 
	 	 
	 	Name:
    Jay Henstschel
	 	Title:
BOARD MEMBER

	 	 
	 	 
	 	Name:
        Patrick White

        Title:
BOARD MEMBER

	 	 
	 	 
	 	Name:
        Jared Levinthal, ESQ

        Title:
BOARD MEMBER

	 	 
	 	 
	 	Name:
        Raymond Meyers

        Title:
BOARD MEMBER



 


 


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