Exhibit
10.32


 


EXECUTIVE
EMPLOYMENT AGREEMENT


 


This
EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) dated January 1, 2021 (the “Effective Date”)
by and between Generation Alpha, a company incorporated under the laws of Nevada (the “Company”), and Tiffany
Davis, an individual (the “Executive”) with reference to the following facts:


 


WHEREAS,
Executive currently serves as the Chief Executive Officer, Chief Financial Officer and Member of the Board of Directors of the
Company;


 


WHEREAS,
the Company wishes to retain Executive as its Chief Executive Officer, Chief Financial Officer and Member of the Board of Directors;
and


 


WHEREAS,
the parties wish to enter into this Agreement directly between Executive and the Company, on the terms and conditions contained
in this Agreement, which will supersede all prior agreements and understandings between the Company and Executive, oral or written
with respect to its subject matter.


 


NOW
THEREFORE, in consideration of the mutual covenants contained herein, the parties, intending to be legally bound, agree as follows:


 


1.
Definitions. As used in this Agreement, the following terms shall have the following meanings:


 


(a)
“Board” means the Board of Directors of the Company.


 


(b)
“Cause” means any of the following:


 


	 	(i)	the
    commission of an act of fraud, embezzlement or dishonesty by Executive, or the commission of some other illegal act by Executive
    (other than traffic violations or other offenses or violations outside of the course of Executive’s employment), that
    has a demonstrable material adverse impact on the Company or any successor or affiliate thereof, provided however,
    that no act shall be deemed an illegal act, if such act would otherwise be legal, but for 21 U.S.C. § 801 et seq.
    (a/k/a the “Controlled Substances Act”).
	 	 	 
	 	(ii)	a
    conviction of, or plea of “guilty” or “no contest” to, a felony by Executive;
	 	 	 
	 	(iii)	any
    unauthorized use or disclosure by Executive of confidential information or trade secrets of the Company or any successor or
    affiliate thereof that has, or may reasonably be expected to have, a material adverse impact on any such entity;


 




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	 	(iv)	Executive’s
    gross negligence, failure to follow a material, lawful and reasonable request of the Board or material violation of any duty
    of loyalty to the Company or any successor or affiliate thereof, or any other demonstrable material willful misconduct on
    the part of Executive;
	 	 	 
	 	(v)	Executive’s
    ongoing and repeated failure or refusal to perform or neglect of Executive’s duties as required by this Agreement, which
    failure, refusal or neglect continues for thirty (30) days following Executive’s receipt of written notice from the
    Board stating with specificity the nature of such failure, refusal or neglect; or
	 	 	 
	 	(vi)	Executive’s
    material breach of any Company policy or any material provision of this Agreement;


 


provided,
however, that prior to the determination that “Cause” under this Section 1(b) has occurred, the Board shall
(A) provide to Executive in writing, in reasonable detail, the reasons for the determination that such “Cause” exists,
(B) other than with respect to clause (v) above which specifies the applicable period of time for Executive to remedy his breach,
afford Executive a reasonable opportunity to remedy any such breach, (C) provide Executive an opportunity to be heard by the Board
(with counsel present) prior to the final decision to terminate Executive’s employment hereunder for such “Cause”
and (D) make any decision that such “Cause” exists in good faith and with the approval of two-thirds (2/3rds) of the
independent members of the Board. For purposes hereof, no act shall be deemed “willful” if taken (or omitted) on the
reasonable belief that it was in the best interest of the Company or upon the advice of counsel or other expert.


 


The
foregoing definition shall not in any way preclude or restrict the right of the Company or any successor or affiliate thereof
to discharge or dismiss Executive for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes
of this Agreement, to constitute grounds for termination for Cause.


 


(c)
Change in Control. For purposes of this Agreement, “Change in Control” means the first to occur of any
of the following transactions that also constitutes a change in the ownership or effective control of the Company, or a change
in the ownership of a substantial portion of the Company’s assets, as described in Treasury Regulation Section 1.409A-3(i)(5):
(A) a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose
of which is to change the state in which the Company is incorporated; (B) the sale, transfer or other disposition of all or substantially
all of the assets of the Company (including the capital stock of the Company’s subsidiary corporations); (C) the complete
liquidation or dissolution of the Company; (D) any reverse merger in which the Company is the surviving entity but in which securities
possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities are
transferred to a person or persons different from those who held such securities immediately prior to such merger; or (E) an acquisition
of the Company in a single or series of related transactions by any person or related group of persons (other than the Company
or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act)
of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities.
Notwithstanding anything to the contrary contained herein, the following transactions shall not constitute a Change in Control
hereunder: (i) a sale by the Company of its securities in a bona fide financing transaction; and (ii) a sale of assets, merger
or other transaction effected exclusively for the purpose of changing the domicile of the Company. To the extent required for
compliance with Section 409A of the Internal Revenue Code, in no event will a Change in Control be deemed to have occurred if
such transaction is not also a “change in the ownership or effective control of” the Company or “a change in
the ownership of a substantial portion of the assets of” the Company as determined under Treasury Regulations Section 1.409A-3(i)(5)
(without regard to any alternative definition thereunder).


 




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Benefits
upon a Change in Control. In the event of a Change in Control of the Company, the vesting and/or exercisability of twenty-five
percent (25%) of the outstanding unvested equity awards then held by Executive (the “Equity Awards”) shall
be accelerated as of immediately prior to the effective date of the Change of Control transaction. Further, in the event that
the Equity Awards are not assumed or substituted and would otherwise terminate prior to and in connection with the Change in Control,
the vesting and/or exercisability of an additional fifty percent (50%) of the Equity Awards shall be accelerated as of immediately
prior to the effective date of the Change of Control transaction.


 


(d)
“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the Treasury Regulations
and other interpretive guidance issued thereunder.


 


(e)
“Good Reason” means the occurrence of any of the following events or conditions without Executive’s written
consent:


 


	 	(i)	a
    material reduction of Executive’s title, authority, duties or responsibilities, or the assignment to Executive of duties
    materially inconsistent with Executive’s positions with the Company as stated in Section 2(a) hereof, provided, however,
    that the Company’s appointment of someone as Chief Financial Officer and removing such title, authority, duties and/or
    responsibilities associated with that title from Executive shall not constitute Good Reason;
	 	 	 
	 	(ii)	a
    material diminution in Executive’s base compensation, unless a similar reduction is imposed across-the-board to senior
    management of the Company and is not greater than 15%;
	 	 	 
	 	(iii)	a
    material change in the geographic location at which Executive must perform his duties (and the parties acknowledge that a
    relocation of Executive’s principal office to a location more than twenty-five (25) miles from the Company’s then
    current offices (excepting reasonable travel on the Company’s business) shall constitute a material change for purposes
    of this clause (iii));


 




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	 	(iv)	any
    other action or inaction that constitutes a material breach by the Company or any successor or affiliate of its obligations
    to Executive under this Agreement; or
	 	 	 
	 	(v)	the
    Company’s delivery of a Non-Renewal Notice (as hereinafter defined).


 


Executive
must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without Executive’s
written consent within ninety (90) days of the occurrence of such event. The Company or any successor or affiliate shall have
a period of thirty (30) days to cure such event or condition after receipt of written notice of such event from Executive. “Good
Reason” shall not exist unless and until the Company fails to cure the condition within the allotted timeframe.


 


(f)
“Involuntary Termination” means (i) Executive’s Separation from Service by reason of Executive’s
discharge by the Company other than for Cause, or (ii) Executive’s Separation from Service by reason of Executive’s
resignation of employment with the Company for Good Reason. Executive’s Separation from Service by reason of Executive’s
death or discharge by the Company following Executive’s Permanent Disability shall not constitute an Involuntary Termination.
Executive’s Separation from Service by reason of resignation from employment with the Company for Good Reason shall be an
“Involuntary Termination” only if such Separation from Service occurs within six (6) months following the initial
existence of the act or failure to act constituting Good Reason, and then only after an opportunity to cure has been provided
in accordance with Section 1(d).


 


(g)
“Involuntary Termination” means (i) Executive’s Separation from Service by reason of Executive’s
discharge by the Company (or its successor(s) within twelve (12) months following a Change in Control) other than for Cause, or
(ii) Executive’s Separation from Service by reason of Executive’s resignation of employment with the Company (or its
successor(s) within twelve (12) months following a Change in Control) for Good Reason. Executive’s Separation from Service
by reason of Executive’s death or discharge by the Company following Executive’s Permanent Disability shall not constitute
an Involuntary Termination. Executive’s Separation from Service by reason of resignation from employment with the Company
for Good Reason shall be an “Involuntary Termination” only if such Separation from Service occurs within six (6) months
following the initial existence of the act or failure to act constituting Good Reason, and then only after an opportunity to cure
has been provided in accordance with Section 1(d), or within twelve (12) months following a Change in Control, as provided for
hereinabove in this Sub-section.


 


(h)
“Permanent Disability” of Executive shall be deemed to have occurred if Executive shall become physically or
mentally incapacitated or disabled or otherwise unable fully to discharge his duties hereunder for a period of ninety (90) consecutive
calendar days or for one hundred twenty (120) calendar days in any one hundred eighty (180) calendar-day period. The existence
of Executive’s Permanent Disability shall be determined by the Company on the advice of a physician chosen by the Company
and the Company reserves the right to have Executive examined by a physician chosen by the Company at the Company’s expense.


 




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(i)
“Separation from Service,” with respect to Executive, means Executive’s “separation from service,”
as defined in Treasury Regulation Section 1.409A-1(h).


 


(j)
“Stock Awards” means all stock options, restricted stock and such other awards granted pursuant to the Company’s
stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof.


 


2.
Services to Be Rendered.


 


(a)
Duties and Responsibilities. Executive shall serve as Chief Executive Officer, and Chief Financial Officer of the Company.
The Company shall continue to nominate and recommend that Executive serve as a director on the Board. In the performance of such
duties, Executive shall report directly to and shall be subject to the direction of the Board. Executive hereby consents to serve
as an officer and/or director of the Company or any subsidiary or affiliate thereof without any additional salary or compensation.
Executive’s primary place of work shall be southern California. Executive shall be subject to and comply with the policies
and procedures generally applicable to senior executives of the Company to the extent the same are not inconsistent with any term
of this Agreement.


 


(b)
Exclusive Services. Executive shall at all times faithfully, industriously and to the best of her ability, experience and
talent perform to the satisfaction of the Board all of the duties that may be assigned to Executive hereunder and shall devote
substantially all of her productive time and efforts to the performance of such duties. Executive agrees that she will not join
any boards, other than community and civic boards (which do not interfere with her duties to the Company), without the prior approval
of the Board, such approval not to be unreasonably withheld or delayed. Except as provided below, the Company shall be entitled
to all benefits, profits or other issues arising from or incidental to all work, services and advice performed or provided by
Executive. Provided that the activities listed below do not materially interfere with Executive’s duties and responsibilities
to the Company and are not otherwise prohibited by this Agreement, nothing in this Agreement shall preclude Employee from:


 


	 	(i)	Serving
    as a member or owner of any organization involving no conflict of interest with the Company, provided that Executive must
    obtain the prior written approval of the Board, which approval shall not be unreasonably withheld or delayed. Ownership in
    her CBD business is so approved;
	 	 	 
	 	(ii)	Serving
    as a consultant in her area of expertise to government, commercial and academic panels where it does not conflict with the
    interests of the Company; and
	 	 	 
	 	(iii)	Managing
    her personal investments, including owning shares of companies whose securities are publicly traded, so long as such securities
    do not constitute more than five percent (5%) of the outstanding securities of any such company.


 




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3.
Compensation and Benefits. The Company shall pay or provide, as the case may be, to Executive the compensation and other
benefits and rights set forth in this Section 3.


 


(a)
Base Salary. As of the Effective Date, the Company shall pay to Executive a base salary (the “Base Salary”)
of $175,000 per year, payable in accordance with the Company’s usual pay practices (and in any event no less frequently
than monthly).


 


(b)
Annual Salary Increase. Executive’s Base Salary shall be subject to review annually by the Board and/or the Compensation
Committee and may be increased but not decreased.


 


(c)
Annual Bonus. Executive shall be entitled to participate in any bonus plan that the Board and/or Compensation Committee
of the Board or its designee may approve for the senior executives of the Company. Any bonus awarded under this Section 3(c) shall
be calculated following the close of the fiscal year to which the bonus relates and paid in a lump sum by no later than two and
one-half (2 1⁄2) months following the end of the fiscal year in which such bonus award is earned, provided that Executive
remains employed on the date of payment (and has not given notice of resignation).


 


(d)
Year End Bonus. The Company and Executive agree that the year-end bonus will be $30,000 and will be paid no later than
March 15, 2021.


 


(e)
Performance-Based Bonus. In addition to any other compensation that Executive is entitled to under this Agreement, and
subject to the conditions set forth in this Section 3(d), the Company shall pay to Executive an annual performance-based bonus
(the “Performance-Based Bonus”) as follows:


 


	 	(i)	If
    the Company’s total 2021 gross, top-line revenue for the fiscal year in which such bonus award is earned has increased
    by at least Thirty-Three percent (33%) from the prior fiscal year of 2020, Executive shall receive thirty percent (30%) of
    the Base Salary for the fiscal year in which such bonus award is earned,
	 	 	 
	 	(ii)	If
    the Company’s total 2021 gross, top line revenue for the fiscal year in which such bonus award is earned has increased
    by at least Sixty-Six percent (66%) from the prior fiscal year, Executive shall receive fifty percent (50%) of the Base Salary
    for the fiscal year in which such bonus award is earned,


 


Any
Performance-Based Bonus awarded under this Section 3(d) shall be calculated following the close of the fiscal year to which the
bonus relates, and paid in a lump sum by no later than two and one-half (2 1⁄2) months following the end of the fiscal year
in which such bonus award is earned, provided that Executive remains employed on the date of payment (and has not given notice
of resignation).


 




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(e)
Equity Awards. The Company shall grant to Executive an option to purchase $12,500 of the Company’s common stock exercisable,
for a five (5) year period from the date of each grant, at 100 percent (100%) of the closing price on the last trading day preceding
the first (1st ), second (2nd), third (3rd), and forth (4th) Quarters of the Effective
Date, respectively. Executive has the right to execute such options on a “net exercise” or similar “cashless”
conversion. Executive shall also be entitled to participate in any equity or other employee benefit plan that is generally available
to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement,
Executive’s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified
in the governing document of the particular plan.


 


(f)
Benefits. Executive shall be entitled to participate in benefits under the Company’s benefit plans, profit sharing
and arrangements, including, without limitation, any employee benefit plan or arrangement made available in the future by the
Company to its employees or senior executives, subject to and on a basis consistent with the terms, conditions and overall administration
of such plans and arrangements. The Company shall have the right to amend or delete any such benefit plan or arrangement made
available by the Company to its employees or senior executives and not otherwise specifically provided for herein. Notwithstanding
the foregoing, during the Employment Term (as hereinafter defined), the Company will provide, at the Company’s expense,
health and major medical insurance benefits to the Executive.


 


(g)
Expenses. The Company shall promptly reimburse Executive for reasonable out-of-pocket business expenses incurred in connection
with the performance of her duties hereunder, subject to (i) such policies as the Company may from time to time establish, (ii)
Executive furnishing the Company with evidence in the form of receipts satisfactory to the Company substantiating the claimed
expenditures, and (iii) Executive receiving advance approval from the Board in the case of expenses (or a series of related expenses)
in excess of $1000.


 


(h)
Paid Time Off. Executive shall have the right to four weeks of Personal Time Off (“PTO”) during each successive
one-year period of her employment by the Company, which PTO time shall be taken at such time or times in each such one-year period
so as not to materially and adversely interfere with the performance of her responsibilities under this Agreement. Executive shall
not be entitled to carry over any unused vacation time from one year to the next and any accrued but unused vacation time will
be waived. In addition, Executive shall be entitled to paid Holidays in accordance with the policies of the Company applicable
to senior management personnel from time to time.


 


(i)
Withholding. The Company shall be entitled to withhold from amounts payable or benefits accorded to Executive under this
Agreement all federal, state and local income, employment and other taxes, as and in such amounts as may be required by applicable
law.


 


4.
Employment Term. The term of this Agreement (as it may be extended by the following sentence or terminated earlier pursuant
to Section 5, the (“Employment Term”) shall begin on the Effective Date and end on the first (1st)
anniversary of the Effective Date. The Employment Term shall be automatically extended for additional one-year periods unless,
at least sixty (60) days prior to the end of the expiration of the Employment Term, Executive or the Board notifies the other
party in writing (a “Non-Renewal Notice”) that it does not wish to extend such Employment Term. Executive’s
employment hereunder shall be coterminous with the Employment Term, unless sooner terminated as provided in Section 5.


 




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5.
Termination; Severance. Executive shall be entitled to receive benefits upon a Separation from Service only as set forth
in this Section 5:


 


(a)
General. Either the Board or Executive may terminate Executive’s employment hereunder, for any reason, at any time
prior to the expiration of the Employment Term, upon thirty (30) days prior written notice to the other party. Upon termination
of Executive’s employment hereunder for any reason, Executive shall be deemed simultaneously to have resigned from any other
position or office he may at the time hold with the Company or any of its affiliates. In addition, upon termination of Executive’s
employment hereunder for any reason, including, without limitation, expiration of the Employment Term, the Company shall (i) reimburse
Executive for any expenses properly incurred under Section 3(g) and which have not previously been reimbursed as of the effective
date of the termination, and (ii) pay Executive for any other accrued and unpaid compensation under Section 3, including, but
not limited to, Base Salary through and including the effective date of termination (the “Termination Date”)
(collectively, the “Accrued Compensation”). The Accrued Compensation will be paid in a lump sum on the Termination
Date or on the first business day after the Termination Date, if the Termination Date falls on a weekend or holiday.


 


(b)
Separation from Service by Death or Following Permanent Disability. Subject to Sections 5(e) and 10(p) and Executive’s
continued compliance with Section 6, in the event of Executive’s Separation from Service as a result of Executive’s
death or discharge by the Company following Executive’s Permanent Disability, Executive or Executive’s estate, as
applicable, shall be entitled to receive her base salary through the end of the month in which Executive’s Separation from
Service occurs as a result of Executive’s death or Permanent Disability.


 


(c)
Severance upon Involuntary Termination. Subject to Sections 5(e) and 10(p) and Executive’s continued compliance with
Section 6, if Executive’s employment is Involuntarily Terminated, Executive shall be entitled to receive, in lieu of any
severance benefits to which Executive may otherwise be entitled under any severance plan or program of the Company, the benefits
provided below, which, with respect to clause (ii) and the last sentence of clause (iii) (if applicable) will be payable in a
lump sum within ten (10) days following the effective date of Executive’s Release (as hereinafter defined):


 


	 	(i)	the
    Company shall pay to Executive his fully earned but unpaid base salary, when due, through the date of Executive’s Involuntary
    Termination at the rate then in effect (without regard to any reduction in salary that gave rise to an event of Good Reason),
    plus all other benefits, if any, under any Company group retirement plan, nonqualified deferred compensation plan, equity
    award plan or agreement, health benefits plan or other Company group benefit plan to which Executive may be entitled pursuant
    to the terms of such plans or agreements at the time of Executive’s Involuntary Termination;


 




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(d)
Termination for Cause or Voluntary Resignation Without Good Reason. In the event of Executive’s termination of employment
as a result of Executive’s discharge by the Company for Cause or Executive’s resignation without Good Reason (other
than as a result of Executive’s death or Separation from Service by reason of discharge by the Company following Executive’s
Permanent Disability), the Company shall not have any other or further obligations to Executive under this Agreement (including
any financial obligations) except that Executive shall be entitled to receive the Accrued Compensation. In addition, in the event
of Executive’s Separation from Service as a result of Executive’s discharge by the Company for Cause or Executive’s
resignation without Good Reason (other than as a result of Executive’s death or Separation from Service by reason of discharge
by the Company following Executive’s Permanent Disability), all vesting of Executive’s unvested Stock Awards previously
granted to him by the Company shall cease and none of such unvested Stock Awards shall be exercisable following the 90th
day following the date of such termination. The foregoing shall be in addition to, and not in lieu of, any and all other
rights and remedies which may be available to the Company under the circumstances, whether at law or in equity.


 


(e)
Termination in Connection with a Change in Control Event. Subject to Sections 5(f) and 10(p) and Executive’s continued
compliance with Section 6, if Executive’s employment is Involuntarily Terminated within twelve (12) months after consummation
of a Change in Control transaction or within ninety (90) days prior to the consummation of a Change in Control or if terminated
after an agreement has been executed that contemplates the consummation of an Change in Control but before it closes, Executive
shall be entitled to receive, in addition to (A) any severance benefits to which Executive may otherwise be entitled under any
severance plan or program of the Company and (B) pursuant to Section 5(c) hereof, the vesting and/or exercisability of any outstanding
unvested portions of such Stock Awards shall be automatically accelerated so as to be immediately vested and exercisable as of
the date of Involuntary Termination and shall remain exercisable through the Severance Period (subject to earlier termination
(A) in connection with a recapitalization or similar transaction pursuant to the Company’s equity incentive plans governing
such Stock Awards or (B) the contractual term of the Stock Award).


 


(f)
Release. As a condition to Executive’s receipt of any post-termination benefits pursuant to Sections 5(b), (c) or
(d) above, Executive (or, in the event of Executive’s incapacity as a result of his Permanent Disability, Executive’s
legal representative) shall execute and not revoke a general release of all claims in favor of the Company (the “Release”)
in a form reasonably acceptable to the Company. In the event the Release does not become effective within the fifty-five (55)
day period following the date of Executive’s Separation from Service, Executive shall not be entitled to the aforesaid payments
and benefits.


 




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(g)
Exclusive Remedy. Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of
Executive’s rights to salary, severance, benefits, bonuses and other amounts hereunder (if any) accruing after the termination
of Executive’s employment shall cease upon such termination. In the event of Executive’s termination of employment
with the Company, Executive’s sole remedy shall be to receive the payments and benefits described in this Section 5. In
addition, Executive acknowledges and agrees that he is not entitled to any reimbursement by the Company for any taxes payable
by Executive as a result of the payments and benefits received by Executive pursuant to this Section 5, including, without limitation,
any excise tax imposed by Section 4999 of the Code.


 


(h)
No Mitigation. Executive shall not be required to mitigate the amount of any payment provided for in this Section 5 by
seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Section 5 be reduced
by any compensation earned by Executive as the result of employment by another employer or self-employment or by retirement benefits;
provided, however, that loans, advances or other amounts owed by Executive to the Company may be offset by the Company
against amounts payable to Executive under this Section 5.


 


(i)
Return of the Company’s Property. In the event of Executive’s termination of employment for any reason, the
Company shall have the right, at its option, to require Executive to vacate his offices prior to or on the effective date of separation
and to cease all activities on the Company’s behalf. Upon Executive’s termination of employment in any manner, as
a condition to Executive’s receipt of any severance benefits described in this Agreement, Executive shall immediately surrender
to the Company all lists, books and records of, or in connection with, the Company’s business, and all other property belonging
to the Company, it being distinctly understood that all such lists, books and records, and other documents, are the property of
the Company. Executive shall deliver to the Company a signed statement certifying compliance with this Section 5(h) prior to the
receipt of any severance benefits described in this Agreement.


 


6.
Certain Covenants.


 


(a)
Confidential Information. Executive recognizes and acknowledges that by reason of Executive’s employment by and service
to the Company before, during and, if applicable, after the Employment Term, Executive will have access to certain confidential
and proprietary information relating to the Company’s business, which may include, but is not limited to, unique business
strategies, theories and concepts, information regarding plans, strategies, opportunities, processes, ideas, research and know-how
developed by or for the Company, trade secrets, patents, other intellectual property, clinical studies, regulatory dossiers, manufacturing,
marketing, personnel, financial data, technical information, methods, processes, formulae and information which Company has obtained
from third parties (collectively referred to as “Confidential Information”). Executive acknowledges that such
Confidential Information is a valuable and unique asset of the Company and Executive covenants that he will not, unless expressly
authorized in writing by the Company, at any time during the course of Executive’s employment use any Confidential Information
or divulge or disclose any Confidential Information to any person, firm or corporation except in connection with the performance
of Executive’s duties for the Company and in a manner consistent with the Company’s policies regarding Confidential
Information. Executive also covenants that at any time after the termination of such employment, directly or indirectly, he will
not use any Confidential Information or divulge or disclose any Confidential Information to any person, firm or corporation, unless
such information is in the public domain through no fault of Executive or except when required to do so by a court of law, by
any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative
body (including a committee thereof) with apparent jurisdiction to order Executive to divulge, disclose or make accessible such
information. All written Confidential Information (including, without limitation, in any computer or other electronic format)
which comes into Executive’s possession during the course of Executive’s employment shall remain the property of the
Company. Except as required in the performance of Executive’s duties for the Company, or unless expressly authorized in
writing by the Company, Executive shall not remove any written Confidential Information from the Company’s premises, except
in connection with the performance of Executive’s duties for the Company and in a manner consistent with the Company’s
policies regarding Confidential Information. Upon termination of Executive’s employment, Executive agrees to return immediately
to the Company all written Confidential Information (including, without limitation, in any computer or other electronic format)
in Executive’s possession. As a condition of Executive’s continued employment with the Company and in order to protect
the Company’s interest in such proprietary information, the Company shall be allowed to require Executive’s execution
of a confidentiality agreement and/or proprietary information and inventions agreement, as reasonably requested by the Board not
inconsistent with the provisions of this paragraph 6(b).


 




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(b)
Solicitation of Employees. During the Restricted Period, Executive shall not, directly or indirectly, solicit or encourage
any person to leave the employment of the Company or any of its affiliates, any employee of the Company or any of its affiliates.


 


(c)
Solicitation of Consultants and other Third Parties. During the Restricted Period, Executive shall not, directly or indirectly,
hire, solicit or encourage any person to cease work with the Company or any of its affiliates, consultants, distributors, licensees
or other third party partners then under contract with the Company or any of its affiliates within one year of the termination
of such consultant’s engagement by the Company or any of its affiliates.


 


(d)
Rights and Remedies Upon Breach. If Executive breaches or threatens to commit a breach of any of the provisions of this
Section 6 (the “Restrictive Covenants”), the Company shall have the following rights and 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:


 


	 	(i)	Specific
    Performance. The right and remedy to have the Restrictive Covenants specifically enforced by any court having equity jurisdiction
    by way of a temporary restraining order, preliminary injunction, permanent injunction, or other equitable remedy, all without
    the need to post a bond or any other security or to prove any amount of actual damage or that money damages would not provide
    an adequate remedy, it being acknowledged and agreed that any such breach or threatened breach may cause irreparable injury
    to the Company and that money damages will not provide adequate remedy to the Company; and


 




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	 	(ii)	Accounting
    and Indemnification. The right and remedy to require Executive to account for and pay over to the Company all compensation,
    profits, monies, accruals, increments or other benefits derived or received by Executive or any associated party deriving
    such benefits as a result of any such breach of the Restrictive Covenants.


 


(e)
Definitions. For purposes of this Section 6, the term “Company” means not only Generation Alpha., but
also any company, partnership or entity which, directly or indirectly, controls, is controlled by or is under common control with
Generation Alpha.


 


7.
Insurance; Indemnification.


 


(a)
Insurance. The Company shall have the right to take out life, health, accident, “key-man” or other insurance
covering Executive, in the name of the Company and at the Company’s expense in any amount deemed appropriate by the Company.
Executive shall assist the Company in obtaining such insurance, including, without limitation, submitting to any required examinations
and providing information and data required by insurance companies.


 


(b)
Indemnification. Executive will be provided with indemnification against third party claims related to his work for the
Company to the fullest extent permitted by California law. The Company shall provide Executive with directors and officers liability
insurance coverage at least as favorable as that which the Company shall maintain for members of the Board and other executive
officers.


 


8.
General Relationship. Executive shall be considered an employee of the Company within the meaning of all federal, state
and local laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers’
compensation, industrial accident, labor and taxes.


 


9.
Representations and Warranties of Executive. Executive hereby represents and warrants to the Company that (a) the execution,
delivery and performance of this Agreement by Executive does not and shall not conflict with, breach, violate or cause a default
under any agreement, contract or instrument to which the Executive is a party or any judgment, order or decree to which Executive
is subject, (b) Executive is not a party to or bound by any employment agreement, (c) Executive is not a party to or bound by
any consulting agreement, non-compete agreement, confidentiality agreement or similar agreement with any other person or entity
that would affect the Company or the obligations of Executive hereunder and (d) upon the execution and delivery of this Agreement
by the Company and Executive, this Agreement will be a valid and binding obligation of Executive, enforceable in accordance with
its terms.


 




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10.
Miscellaneous.


 


(a)
Modification; Prior Claims. This Agreement sets forth the entire understanding of the parties with respect to the subject
matter hereof, supersedes all existing agreements between them concerning such subject matter. This Agreement may be amended or
modified only with the written consent of Executive and an authorized representative of the Company. No oral waiver, amendment
or modification will be effective under any circumstances whatsoever.


 


(b)
Assignment; Assumption by Successor. The rights of the Company under this Agreement may, without the consent of Executive,
be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which
at any time, (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise, acquires
all or substantially all of the assets or business of the Company. The Company will require any successor(s) (whether direct or
indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to
assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company
of its obligations hereunder. As used in this Agreement, the “Company” shall mean the Company as hereinbefore
defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation
of law or otherwise.


 


(c)
Survival. The covenants, agreements, representations and warranties contained in or made in Sections 3(e), 3(f), 5, 6,
7, 9 and 10 of this Agreement shall survive the termination of Executive’s employment.


 


(d)
Third-Party Beneficiaries. This Agreement does not create, and shall not be construed as creating, any rights enforceable
by any person not a party to this Agreement.


 


(e)
Waiver. The failure of either party hereto at any time to enforce performance by the other party of any provision of this
Agreement shall in no way affect such party’s rights thereafter to enforce the same, nor shall the waiver by either party
of any breach of any provision hereof be deemed to be a waiver by such party of any other breach of the same or any other provision
hereof.


 


(f)
Section Headings. The headings of the several sections in this Agreement are inserted solely for the convenience of the
parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof.


 


(g)
Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with
notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification
of receipt; (iii) by email, telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv)
by certified or registered mail, return receipt requested, upon verification of receipt. Notice shall be sent to Executive at
the address listed on the Company’s personnel records and to the Company at its principal place of business, or such other
address as either party may specify in writing.


 




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(h)
Severability. All Sections, clauses and covenants contained in this Agreement are severable, and in the event any of them
shall be held to be invalid by any court, this Agreement shall be interpreted as if such invalid Sections, clauses or covenants
were not contained herein.


 


(i)
Governing Law. This Agreement shall be governed by, and construed in accordance with and subject to, the laws of the State
of California applicable to agreements made and to be performed entirely within such state without regard to its conflicts of
law rules.


 


(j)
Jurisdiction and Venue.


 


	 	(i)
    	The
    Company and Executive hereby irrevocably and unconditionally submit, for themselves and their property, to the exclusive jurisdiction
    of the California State courts or the United States District Court for the Central District of California, and any appellate
    court from any thereof, in any action or proceeding arising out of or relating to this Agreement or for recognition or enforcement
    of any judgment, and the Company and Executive hereby irrevocably and unconditionally agree that all claims in respect of
    any such action or proceeding may be heard and determined in any such California State court or, to the extent permitted by
    law, in the United States District Court for the Central District of California. The Company and Executive irrevocably waive,
    to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding
    in any such court. The Company and Executive agree that a final judgment in any such action or proceeding shall be conclusive
    and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.


 


(k)
Non-transferability of Interest. None of the rights of Executive to receive any form of compensation payable pursuant to
this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution
upon the death of Executive. Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of
any interest in the rights of Executive to receive any form of compensation to be made by the Company pursuant to this Agreement
shall be void.


 


(l)
Gender. Where the context so requires, the use of the masculine gender shall include the feminine and/or neuter genders
and the singular shall include the plural, and vice versa, and the word “person” shall include any corporation, firm,
partnership or other form of association.


 


(m)
Counterparts. The parties may execute this Agreement in multiple counterparts, each of which constitutes an original as
against the party that signed it, and both of which together constitute one agreement. The signatures of both parties need not
appear on the same counterpart. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains
a portable document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page
were an original thereof.


 




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(n)
Construction. The language in all parts of this Agreement shall in all cases be construed simply, according to its fair
meaning, and not strictly for or against any of the parties hereto. Without limitation, there shall be no presumption against
any party on the ground that such party was responsible for drafting this Agreement or any part thereof.


 


(o)
Withholding and other Deductions. All compensation payable to Executive hereunder shall be subject to such deductions as
the Company is from time to time required to make pursuant to law, governmental regulation or order.


 


(p)
Code Section 409A.


 


	 	(i)	This
    Agreement is not intended to provide for any deferral of compensation subject to Section 409A of the Code, and, accordingly,
    the severance payments payable under Sections 5(c)(ii) and 5(c)(iii) shall be paid no later than the later of: (A) the fifteenth
    (15th) day of the third month following Executive’s first taxable year in which such severance benefit is no longer
    subject to a substantial risk of forfeiture, and (B) the fifteenth (15th) day of the third month following first taxable year
    of the Company in which such severance benefit is no longer subject to substantial risk of forfeiture, as determined in accordance
    with Code Section 409A and any Treasury Regulations and other guidance issued thereunder. To the extent applicable, this Agreement
    shall be interpreted in accordance with Code Section 409A and Department of Treasury regulations and other interpretive guidance
    issued thereunder.
	 	 	 
	 	(ii)	If
    Executive is a “specified employee” (as defined in Section 409A of the Code), as determined by the Company in
    accordance with Section 409A of the Code, on the date of Executive’s Separation from Service, to the extent that the
    payments or benefits under this Agreement are subject to Section 409A of the Code and the delayed payment or distribution
    of all or any portion of such amounts to which Executive is entitled under this Agreement is required in order to avoid a
    prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, then such portion deferred pursuant to this Section 9(p)(ii)
    shall be paid or distributed to Executive in a lump sum on the earlier of (A) the date that is six (6)-months following Executive’s
    Separation from Service, (B) the date of Executive’s death or (C) the earliest date as is permitted under Section 409A
    of the Code. Any remaining payments due under the Agreement shall be paid as otherwise provided herein.



 






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	 	(iii)	To
    the extent applicable, this Agreement shall be interpreted in accordance with the applicable exemptions from Section 409A
    of the Code. If Executive and the Company determine that any payments or benefits payable under this Agreement intended to
    comply with Sections 409A(a)(2), (3) and (4) of the Code do not comply with Section 409A of the Code, Executive and the Company
    agree to amend this Agreement, or take such other actions as Executive and the Company deem reasonably necessary or appropriate,
    to comply with the requirements of Section 409A of the Code and the Treasury Regulations thereunder (and any applicable transition
    relief) while preserving the economic agreement of the parties. To the extent that any provision in this Agreement is ambiguous
    as to its compliance with Section 409A of the Code, the provision shall be read in such a manner that no payments payable
    under this Agreement shall be subject to an “additional tax” as defined in Section 409A(a)(1)(B) of the Code.
	 	 	 
	 	(iv)	Any
    reimbursement of expenses or in-kind benefits payable under this Agreement shall be made in accordance with Treasury Regulation
    Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of Executive’s taxable year following the taxable
    year in which Executive incurred the expenses. The amount of expenses reimbursed or in-kind benefits payable in one year shall
    not affect the amount eligible for reimbursement or in-kind benefits payable in any other taxable year of Executive’s,
    and Executive’s right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other
    benefit.
	 	 	 
	 	(v)	In
    the event that the amounts payable under Sections 5(c)(ii) and 5(c)(iii) are subject to Section 409A of the Code and the timing
    of the delivery of Executive’s Release could cause such amounts to be paid in one or another taxable year, then notwithstanding
    the payment timing set forth in such sections, such amounts shall not be payable until the later of (A) the payment date specified
    in such Section or (B) the first business day of the taxable year following Executive’s Separation from Service.


 




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IN
WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of the date first written above.


 


	EXECUTIVE:	 	GENERATION
    ALPHA
	 	 	 
	/s/
    TIFFANY DAVIS	 	/s/
    GEORGE O’LEARY
	Tiffany
    Davis	 	Name:
                                         George O’Leary

        Title:
        Executive Chairman



 




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