Exhibit 10.1


 


 


 


FIRST
AMENDMENT 


TO



EXECUTIVE
EMPLOYMENT AGREEMENT


This
First Amendment (this “Amendment”) to Executive Employment Agreement is hereby entered into this 27th day
of April, 2021, effective as of April 22, 2021, by and between Marijuana Company of America, Inc., a Delaware corporation (the “Corporation”)
and Jesus Quintero (“Executive”). The Corporation and Executive are collectively referred to herein as the “Parties”.


WITNESSETH:


WHEREAS,
the Corporation and Executive are parties to that certain Executive Employment Agreement dated as of February 3, 2020 (the “Employment
Agreement”);


WHEREAS,
the Employment Agreement provided that Executive would be employed by the Corporation as Principal Executive Officer and Principal Accounting
Officer of the Corporation;


 


WHEREAS,
the Parties desire to amend the Employment Agreement to raise Executive’s salary as set forth herein.


NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the Parties agree as follows:


 


		1.	Capitalized
                                            terms used but not otherwise defined herein shall have the meanings ascribed to such terms
                                            in the Employment Agreement.



		2.	Section
                                            3.1 of the Employment Agreement is hereby amended and restated in its entirety as follows:



“For
all services as Principal Executive Officer and Principal Accounting Officer that Executive renders to the Company during the Term of
this Agreement, Executive will be compensated with a gross monthly salary of twenty three thousand dollars ($23,000.00) commencing as
of May 1, 2021. The monthly salary shall be paid as follows: twenty thousand dollars ($20,000) in cash, and an equivalent of three thousand
dollars ($3,000) worth of Company restricted common stock, determined as of the closing price of the Company's common stock on the final
trading day of each month as reported on the OTC Markets Listing Service. Such cash monthly salary shall be payable consistent with the
payroll practices as established by the Company. Where applicable, payments will be subject to income tax withholding and other payroll
tax deductions required by applicable state and federal law. In addition, the Company shall immediately issue to Mr. Quintero 20,000,000
fully paid and non-assessable shares of the Company’s common stock, par value $0.001 per share, as a one-time bonus.”


 






    	  





    	 



    

 


 


		3.	This
                                            agreement shall be construed and interpreted in accordance with the laws of the State of
                                            California without giving effect to the conflict of laws rules thereof or the actual domiciles
                                            of the parties.



 


		4.	Except
                                            as amended hereby, the terms and provisions of the Employment Agreement shall remain in full
                                            force and effect, and the Employment Agreement is in all respects ratified and confirmed.
                                            On and after the date of this agreement, each reference in the Employment Agreement to the
                                            "Agreement", "hereinafter", "herein", "hereinafter",
                                            "hereunder", "hereof", or words of like import shall mean and be a reference
                                            to the Employment Agreement as amended by this agreement.



 


		5.	This
                                            agreement may be executed in one or more counterparts, each of which shall be deemed an original
                                            and all of which taken together shall constitute a single Amendment.



 


THE
CORPORATION:


 


MARIJUANA
COMPANY OF AMERICA, INC.


 


 


 


By:
/s Tad Mailander


Name:
Tad Mailander


Title:
Director


 


 


EXECUTIVE:


 


 


/s/
Jesus Quintero


JESUS
QUINTERO