# EDGAR Filing Document

**Accession Number:** 0001861657
**File Stem:** 0001493152-25-021101
**Filing Date:** 2025-11
**Character Count:** 190446
**Document Hash:** 4baff8260b953826a044f443d0659b6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-021101.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001493152-25-021101

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251103

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tharimmune, Inc.
- **CENTRAL INDEX KEY:** 0001861657
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 842642541
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41210
- **FILM NUMBER:** 251459552

**BUSINESS ADDRESS:**
- **STREET 1:** 1200 ROUTE 22 EAST
- **CITY:** BRIDGEWATER
- **STATE:** NJ
- **ZIP:** 08807
- **BUSINESS PHONE:** 302-743-2995

**MAIL ADDRESS:**
- **STREET 1:** 34 SHREWSBURY AVE
- **STREET 2:** SUITE 1C
- **CITY:** RED BANK
- **STATE:** NJ
- **ZIP:** 07701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tharimmune, Inc
- **DATE OF NAME CHANGE:** 20230925

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hillstream BioPharma Inc.
- **DATE OF NAME CHANGE:** 20210511

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) **November 3, 2025**

**THARIMMUNE, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-41210** | **84-2642541** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (I. R. S. Employer<br> Identification No.) |

---

**34 Shrewsbury Ave., Suite 1C**

**Red Bank, NJ 07701**

(Address of principal executive offices, including zip code)

**(732) 889-3111**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, $0.0001 par value | THAR | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Material Definitive Agreement**

As previously disclosed in its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "Commission") on November 3, 2025, (i) Tharimmune, Inc. (the "Company) entered into securities purchase agreements (the "<u>Cash Securities Purchase Agreements</u>") with certain accredited investors (the "<u>Cash Purchasers</u>") pursuant to which the Company agreed to sell and issue to the Cash Purchasers in a private placement offering (the "<u>Cash Offering</u>") an aggregate offering of either shares (the "<u>Cash Shares</u>") of common stock of the Company, par value $0.0001 per share (the "<u>Common Stock</u>") at an offering price of $3.075 per Cash Share (the "<u>Per Share Cash Purchase Price</u>"); and/or pre-funded warrants (the "<u>Cash Pre-Funded Warrants</u>") to purchase shares of the Common Stock (the "<u>Cash Pre-Funded Warrant Shares</u>" and together with Cash Pre-Funded Warrants, the "<u>Cash Securities</u>") at an offering price of the Per Share Cash Purchase Price less $0.0001 per Cash Pre-Funded Warrant; (ii) the Company entered into securities purchase agreements (the "<u>Cryptocurrency Securities Purchase Agreements</u>," and together with the Cash Securities Purchase Agreements, the "<u>Securities Purchase Agreements</u>") with certain accredited investors (the "<u>Cryptocurrency Purchasers</u>," and together with the Cash Purchasers, the "<u>Purchasers</u>")) pursuant to which the Company agreed to sell and issue to the Cryptocurrency Purchasers in a private placement (the "<u>Cryptocurrency Offering</u>," and together with the Cash Offering, the "<u>Offerings</u>") pre-funded warrants ("<u>Cryptocurrency Pre-Funded Warrants</u>" and, together with the Cash Pre-Funded Warrants, the "<u>Pre-Funded Warrants</u>") to purchase shares of Common Stock ("<u>Cryptocurrency Pre-Funded Warrant Shares</u>" and, together with the Cash Pre-Funded Warrant Shares, the "<u>Pre-Funded Warrant Shares</u>") at an offering price of $3.075 less $0.0001 and (iii) contemporaneously with the sale of the Securities under the Securities Purchase Agreement, the Company will issue to certain strategic advisors (the "<u>Strategic Advisors,</u>" and the Strategic Advisor that is party to the Strategic Advisor Agreement (as defined below) the "<u>Lead Strategic Advisor</u>") warrants to purchase shares of Common Stock (the "<u>Strategic Advisor Warrants</u>") equal to 5.00% of the aggregate number of shares of Common Stock of the Company on a fully diluted basis (including all outstanding shares of Common Stock, and shares of Common Stock issuable pursuant to outstanding options, warrants and other convertible securities) sold in such offering at an exercise price of $0.001, pursuant to a Strategic Advisor Agreement between the Company and the Lead Strategic Advisor. In connection with the Securities Purchase Agreements, the Purchasers have agreed to agreed not to sell, transfer, pledge, hedge, or otherwise dispose of any applicable Common Stock and Pre-Funded Warrant Shares until the resale registration statement covering the shares of Common Stock and Pre-Funded Warrant Shares issued pursuant to the Securities Purchase Agreements is declared effective, pursuant to lock-up agreements (the "<u>Lock-up Agreements</u>").

The closing of the Securities Purchase Agreements occurred on November 6, 2025 (the "Closing"). The Company issued 25,966,048 shares of Common Stock and 151,456,115 Pre-Funded Warrants to the Purchasers, raising gross proceeds of approximately $545 million. The proceeds from the Cash Offering and the Cryptocurrency Offering, after payment of offering expenses, will be used to establish the Company's Canton Coin treasury and to fund the operations of the Company.

**Item 5.02. Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**

In connection with the Offerings, on November 6, 2025, Nancy Davis and Sanam Parikh resigned as members of the board of directors. The resignations were not a result of any disagreements with the Company on any matter relating to the Company's operations, policies, or practices.

Additionally, in connection with the Offerings, on November 6, 2025, Mark Wendland was appointed as Chief Executive Officer of the Company and as a director of the Board and Mark Toomey was appointed as President of the Company. Messrs. Wendland and Toomey's biographical information is set forth below. Following Mr. Wendland's appointment as Chief Executive Officer, Sireesh Appajosyula, the Company's former Chief Executive Officer, will remain with the Company as Chief Executive Officer of Gravitas Life Sciences, Inc., as subsidiary of the Company.

**<u>Mark Wendland</u>**

Mark Wendland was appointed as Chief Executive Officer of the Company and as a director of the Board effective November 6, 2025. Prior to that, Mr. Wendland served in various roles at DRW Holdings LLC, a proprietary trading firm, from July 2019 to June of 2025. Mr. Wendland served as Partner from January 2023 to June 2025, Chief Operating Officer from September 2021 to June of 2025, and Global Treasurer from July 2019 to September 2021. Prior to his time at DRW Holdings LLC, Mr. Wendland served as a Global Treasury Manager at Citadel LLC, a hedge fund and financial services company from September 2003 to January 2019. Mr. Wendland received his B.S. in Business Administration from Carroll College.

**<u>Mark Toomey</u>**

Mark Toomey was appointed as President of the Company effective November 6, 2025. Since March 2025, Mr. Toomey has served as the Managing Director and Head of Business Development for Liberty City Ventures, a venture capital firm that focuses on investing in early-stage blockchain and technology companies. Prior to his time at Liberty City Ventures, Mr. Toomey served as the Head of Distribution for Galaxy Digital, a digital asset and artificial intelligence company, from March 2021 to March 2025. Prior to Galaxy Digital, Mr. Toomey served as the Head of Pensions, Endowments and Foundations at J.P. Morgan from 2019 to March 2021. Prior to his time at J.P. Morgan, Mr. Toomey served as the Managing Director and Head of Institutional Equity Derivatives at Goldman Sachs. Mr. Toomey received his B.A. in American Studies from Syracuse University and his MBA from Georgetown University.

In connection with Messrs. Wendland and Toomey appointments, the Company will enter into its standard form of indemnification agreement for directors and officers with each director or officer, a copy of which is attached to this Current Report as Exhibit 10.5 and is incorporated herein by reference. Pursuant to the terms of the indemnification agreement, the Company may be required, among other things, to indemnify Messrs. Wendland and Toomey for expenses, including attorneys' fees, judgments, fines and settlement amounts incurred in any action or proceeding arising out of his service to the Company.

**Employment Agreements**

In connection with the Closing, the Company entered into an employment agreement with Mr. Wendland setting forth the terms and conditions of his employment with as the Company's Chief Executive Officer (the "Wendland Employment Agreement"). Under the terms of his employment agreement, Mr. Wendland is entitled to receive (i) an annual base salary of $500,000, subject to review and adjustment by the Company from time to time, (ii) a one-time sign-on bonus of $150,000, (iii) eligibility for an annual performance-based cash bonus,(a) for 2025, in a minimum amount equal to $125,000 and (b) for 2026, in an amount equal to $500,000, plus an additional amount as determined by the Board, in its sole and absolutely discretion, with a target equal to $250,000, and (c) for calendar years after 2026, in an amount determined by the Board in its sole and absolute discretion, in each case subject to continuous employment with the Company. Mr. Wendland will also be eligible to receive a grant of time-based and performance-based restricted stock units equal to 1.0% of the Company's common stock on a fully diluted basis following the closing of the PIPE financing, subject to Board approval, vesting conditions established by the Board (or its compensation committee) and other conditions. The agreement contains customary confidentiality, non-compete, non-solicitation, and intellectual property provisions, and may be terminated by either party in accordance with its terms.

In connection with the Closing, the Company entered into an employment agreement with Mr. Toomey setting forth the terms and conditions of his employment as the President of the Company (the "Toomey Employment Agreement"). Under the terms of his employment agreement, Mr. Toomey will be entitled to receive (i) an annual base salary of $500,000, subject to review and adjustment by the Company from time to time, (ii) eligibility for an annual performance-based cash bonus(a) for 2025, in a minimum amount equal to $125,000, (b) for 2026, in a minimum amount equal to $500,000, and (c) for calendar years after 2026, in an amount determined by the Board in its sole and absolute discretion, subject to continuous employment with the Company. Mr. Toomey will also be eligible to receive a grant of time-based and performance-based restricted stock units equal to 0.9% of the Company's common stock on a fully diluted basis following the closing of the PIPE financing, subject to Board approval, vesting conditions established by the Board (or its compensation committee) and other conditions. The agreement contains customary confidentiality, non-compete, non-solicitation, and intellectual property provisions, and may be terminated by either party in accordance with its terms.

The employment agreements for Mr. Wendland and Mr. Toomey provide that in the event the executive terminates their employment for "good reason" or the Company terminates their employment without "cause" (in each case defined in their employment agreement), they are entitled to receive the following benefits, subject to their execution of a general release of claims in the Company's favor and obligations regarding solicitation, return of property, and restrictive covenants, non-solicitation of customers, non-solicitation of employees, non-disparagement and the expiration of any applicable expiration period with respect to the release: (i) any base salary earned through the date of termination; (ii) unpaid expense reimbursement in accordance with our policy; (iii) unused vacation and sick leave that accrued through the date of termination in accordance with our policy; (iv) for Mr. Wendland, twelve (12) months of base salary; provided, however, that if his employment is terminated by us without "cause" or if he terminates for "good reason" prior to the date in calendar year 2027 that he is to be paid a bonus for his service in calendar year 2026, then the severance pay is equal to $1,000,000; (v) for Mr. Toomey, twelve (12) months of base salary; (vi) for Mr. Toomey, an amount equal to any unpaid portion of his 2025 bonus and 2026 bonus as of the date of termination; and (vi) if the executive terminates for "good reason" or we terminate their employment without "cause" within twelve (12) months following a change in control (in each case defined in their employment agreement), all unvested time-vesting conditions of the restricted stock unit awards accelerate and vest in full.

In the event the executive voluntarily resigns other than for "good reason" (as such term is defined therein) or executive's employment is terminated by us for "cause," (as such term is defined therein) such executive will be entitled to (i) any base salary earned through the date of termination; (ii) unpaid expense reimbursement in accordance with our policy; and (iii) unused vacation and sick leave that accrued through the date of termination in accordance with our policy.

The foregoing summaries are do not purport to be complete and are qualified in their entirety by reference to the full text of the Wendland Employment Agreement and the Toomey Employment Agreement, copies of which are filed as Exhibits 10.6 and 10.7, respectively, to this Current Report and incorporated herein by reference.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits*.*

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| 4.1 | [Form of Cash Pre-Funded Warrant (incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex4-1.htm) |
| 4.2 | [Form of Cryptocurrency Pre-Funded Warrant (incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex4-2.htm) |
| 4.3 | [Form of Strategic Advisory Warrant (incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex4-3.htm) |
| 10.1 | [Form of Cash Securities Purchase Agreement (incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex10-1.htm) |
| 10.2 | [Form of Cryptocurrency Securities Purchase Agreement (incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex10-2.htm) |
| 10.3 | [Form of Lock-up Agreement(incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex10-3.htm) |
| 10.4 | [Strategic Advisory Agreement (incorporated by reference to the Company's Current Report filed with the Commission on November 5, 2025)](https://www.sec.gov/Archives/edgar/data/1861657/000149315225020824/ex10-4.htm) |
| 10.5 | [Indemnification Agreement](ex10-5.htm) |
| 10.6 | [Employment Agreement between the Company and Mark Wendland](ex10-6.htm) |
| 10.7 | [Employment Agreement between the Company and Mark Toomey](ex10-7.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **THARIMMUNE, INC.** | **THARIMMUNE, INC.** |
| Date: November 6, 2025 | By: | */s/ Mark Wendland* |
|  |  | Mark Wendland |
|  |  | Chief Executive Officer |

---

## Exhibit 10.5

**Exhibit 10.5**

**THARIMMUNE, INC.**

**<u>INDEMNIFICATION AGREEMENT</u>**

**This INDEMNIFICATION AGREEMENT** ("Agreement") is made as of [ ], 2025 by and between Tharimmune, Inc., a Delaware corporation (the "Company"), and [ ] ("Indemnitee"). This Agreement supersedes and replaces any and all previous Agreements between the Company and Indemnitee covering the subject matter of this Agreement.

**RECITALS**

**WHEREAS,** highly competent persons have become more reluctant to serve publicly held corporations as directors or officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;

**WHEREAS,** the Board of Directors of the Company (the "Board") has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company from certain liabilities. The Bylaws (the "By-Laws") of the Company and the Certificate of Incorporation of the Company, as amended, ("the Certificate of Incorporation") require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the "DGCL"). The By-Laws and the Certificate of Incorporation and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification;

**WHEREAS,** the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

**WHEREAS,** the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

**WHEREAS,** it is reasonable, prudent and necessary for the Company to contractually obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;

**WHEREAS,** this Agreement is a supplement to and in furtherance of the By-Laws and the Certificate of Incorporation and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

**WHEREAS,** Indemnitee does not regard the protection available under the Certificate of Incorporation, By-Laws and insurance as adequate in the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that he or she be so indemnified; and

**NOW, THEREFORE,** in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

**Section 1. <u>Services to the Company</u>.** Indemnitee agrees to continue to serve as a[n] [officer/director/officer and director] of the Company. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to keep Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company and Indemnitee. Indemnitee specifically acknowledges that Indemnitee's employment with the Company, if any, is at will, and the Indemnitee may be discharged at any time for any reason, with or without cause, except as may be otherwise provided in any written employment contract between Indemnitee and the Company, other applicable formal severance policies duly adopted by the Board, or, with respect to service as a director or officer of the Company, by the Certificate of Incorporation, the By-Laws, and the DGCL. The foregoing notwithstanding, this Agreement shall continue in force after Indemnitee has ceased to serve as a[n] [officer/director/officer and director] of the Company.

**Section 2. <u>Definitions</u>.** As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) References to "agent" shall mean any person who is or was a director, officer, or employee of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company, joint venture, trust or other Enterprise at the request of, for the convenience of, or to represent the interests of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A "Change in Control" shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Acquisition of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing more than fifty percent (50%) or more of the combined voting power of the Company's then outstanding securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Change in Board. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(b)(i), 2(b)(iii) or 2(b)(iv)) whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 51% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

For purposes of this Section 2(b), the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) "Person" shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) "Beneficial Owner" shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Corporate Status" describes the status of a person who is or was a director, officer, employee or agent of the Company or of any other corporation, limited liability company, partnership or joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the request of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Disinterested Director" means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "Enterprise" shall mean the Company and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "Expenses" shall include all reasonable attorneys' fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including, without limitation, the premium, security for, and other costs relating to any cost bond or other appeal bond or its equivalent, and (ii) for purposes of Section 14(d) only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement, by litigation or otherwise. The parties agree that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all Expenses included in such demand that are certified by affidavit of Indemnitee's counsel as being reasonable shall be presumed conclusively to be reasonable. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "Independent Counsel" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The term "Proceeding" shall include any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative legislative, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action taken by him or of any action on his or her part while acting as director or officer of the Company, or by reason of the fact that he is or was serving at the request of the Company, including prior to the date of this Agreement, as a director, officer, employee or agent of another corporation, limited liability company, partnership, joint venture, trust or other enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses can be provided under this Agreement. If the Indemnitee believes in good faith that a given situation may lead to or culminate in the institution of a Proceeding, this shall be considered a Proceeding under this paragraph.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Reference to "other enterprise" shall include employee benefit plans; references to "fines" shall include any excise tax assessed with respect to any employee benefit plan; references to "serving at the request of the Company" shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the Company" as referred to in this Agreement.

**Section 3. <u>Indemnity in Third-Party Proceedings</u>.** The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding had no reasonable cause to believe that his or her conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation, the By-Laws, vote of the Company's stockholders or disinterested directors or applicable law.

**Section 4. <u>Indemnity in Proceedings by or in the Right of the Company</u>.** The Company shall indemnify Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by him/her or on his/her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

**Section 5. <u>Indemnification for Expenses of a Party Who is Wholly or Partly Successful</u>.** Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him/her or on his/her behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

**Section 6. <u>Indemnification For Expenses of a Witness</u>.** Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is, by reason of his/her Corporate Status, a witness or otherwise asked to participate in any Proceeding to which Indemnitee is not a party, he/she shall be indemnified against all Expenses actually and reasonably incurred by him/her or on his/her behalf in connection therewith.

**Section 7. <u>Partial Indemnification</u>.** If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

**Section 8. <u>Additional Indemnification</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding any limitation in Sections 3, 4, or 5, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with the Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of Section 8(a), the meaning of the phrase "to the fullest extent permitted by applicable law" shall include, but not be limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors.

**Section 9. <u>Exclusions</u>.** Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim made against Indemnitee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory law or common law, or (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act"), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) except as provided in Section 14(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

**Section 10. <u>Advances of Expenses</u>.** In accordance with Section 6.3 of Article VI of the By-Laws, and notwithstanding any provision of this Agreement to the contrary, the Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding, and such advancement shall be made within thirty (30) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee's ability to repay the Expenses and without regard to Indemnitee's ultimate entitlement to indemnification under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company. No other form of undertaking shall be required other than the execution of this Agreement. This Section 10 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9.

**Section 11. <u>Procedure for Notification and Defense of Claim</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. The written notification to the Company shall include a description of the nature of the Proceeding and the facts underlying the Proceeding. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such action, suit or proceeding. The omission by Indemnitee to notify the Company hereunder will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company will be entitled to participate in the Proceeding at its own expense.

**Section 12. <u>Procedure Upon Application for Indemnification</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon written request by Indemnitee for indemnification pursuant to Section 11(a), a determination, if required by applicable law, with respect to Indemnitee's entitlement thereto shall be made in the specific case: (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including attorneys' fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof, the Independent Counsel shall be selected as provided in this Section 12(b). If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; <u>provided</u>, <u>however</u>, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "Independent Counsel" as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within twenty (20) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11(a) hereof and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other's selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the Court or by such other person as the Court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

**Section 13. <u>Presumptions and Effect of Certain Proceedings</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure of the Company (including by its directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to Section 14(e), if the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such sixty (60) day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 13(b) shall not apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 12(a) of this Agreement and if (A) within fifteen (15) days after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of <u>nolo contendere</u> or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Reliance as Safe Harbor</u>. For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with the reasonable care by the Enterprise. The provisions of this Section 13(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Actions of Others</u>. The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.

**Section 14. <u>Remedies of Indemnitee</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to Section 14(e), in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 12(a) of this Agreement within ninety (90) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 5, 6 or 7 or the last sentence of Section 12(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification pursuant to Section 3, 4 or 8 of this Agreement is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 14(a); <u>provided</u>, <u>however</u>, that the foregoing clause shall not apply in respect of a proceeding brought by Indemnitee to enforce his or her rights under Section 5 of this Agreement. The Company shall not oppose Indemnitee's right to seek any such adjudication or award in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a <u>de novo</u> trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee's rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder. The Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or under any directors' and officers' liability insurance policies maintained by the Company if Indemnitee is wholly successful on the underlying claims; if Indemnitee is not wholly successful on the underlying claims, then such indemnification and advancement shall be only to the extent Indemnitee is successful on such underlying claims or otherwise as permitted by law, whichever is greater.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.

**Section 15. <u>Non-exclusivity; Survival of Rights; Insurance; Subrogation</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the By-Laws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the By-Laws, the Certificate of Incorporation and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall use its best efforts to maintain an insurance policy or policies providing liability insurance for directors and officers in effect at all times. To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee or agent under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of a proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided hereunder) hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company's obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, employee or agent of any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise.

**Section 16. <u>Duration of Agreement</u>.** This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a[n] [officer/director/officer and director] of the Company or (b) one (1) year after the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto. This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his/her heirs, executors and administrators.

**Section 17. <u>Severability</u>.** If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

**Section 18. <u>Enforcement</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a[n] [officer/director/officer and director] of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a[n] [officer/director/officer and director]of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the By-Laws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

**Section 19. <u>Modification and Waiver</u>.** No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

**Section 20. <u>Notice by Indemnitee</u>.** Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise.

**Section 21. <u>Notices</u>.** All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third (3<sup>rd</sup>) business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If to the Company to

[____]

34 Shrewsbury Avenue, Suite 1C

Red Bank, NJ 07701

or to any other address as may have been furnished to Indemnitee by the Company.

**Section 22. <u>Contribution</u>.** To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (a) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (b) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

**Section 23. <u>Applicable Law and Consent to Jurisdiction</u>.** This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the "Delaware Court"), and not in any other state or federal court in the United States of America or any court in any other country, (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (c) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, irrevocably National Registered Agents, Inc., 160 Greentree Drive, Suite 101, City of Dover, County of Kent, Delaware 19904 as its agent in the State of Delaware as such party's agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (d) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (e) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

**Section 24. <u>Identical Counterparts</u>.** This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

**Section 25. <u>Miscellaneous</u>.** Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

**IN WITNESS WHEREOF,** the parties have caused this Agreement to be signed as of the day and year first above written.

---

| |
|:---|
| **THARIMMUNE, INC.** |
| By: |
| Title: |
| **Indemnitee** |
| Address: |

---

## Exhibit 10.6

**Exhibit 10.6**

**EMPLOYMENT AGREEMENT**

This Employment Agreement (this "Agreement") is made as of November __, 2025 and is entered into by and between Tharimmune, Inc. (the "Company") and Mark Wendland ("Employee") (collectively with the Company, the "Parties"; each of the Parties referred to individually as a "Party").

**WHEREAS**, the Company desires to employ Employee in accordance with the terms and conditions set forth below; and

**WHEREAS**, Employee desires to be employed by the Company in accordance with the terms and conditions set forth below.

**NOW, THEREFORE**, in consideration of the promises and mutual covenants and agreements set forth in this Agreement, the Parties hereby agree as follows:

1. **<u>EMPLOYMENT</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.  **<u>Title</u>** .
 The Company hereby agrees to employ Employee, and Employee hereby accepts such employment,
 as Chief Executive Officer of the Company, reporting to the board of directors of the Company
 (the "Board").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.  **<u>Employment Period</u>** . Employee's employment with the Company shall commence on __________
 __, 2025 (the "Start Date"). This Agreement shall be effective as of the Start
 Date and shall continue until terminated in accordance with the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.  **<u>Principal Place of Employment</u>** . Employee's principal place of employment shall be Chicago,
 Illinois; provided, however, that it is understood that travel may be necessary to fulfill
 Employee's duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.  **<u>At Will Relationship</u>** . Employee's employment with the Company shall commence as
 of the Start Date. Employee's employment shall be considered "at will"
 in nature and, accordingly, either the Company or Employee may terminate this Agreement and
 Employee's employment at any time and for any reason, with or without cause or prior
 notice. Nothing in this Agreement, including but not limited to Section 3 hereof, shall be
 construed as, or shall interfere with, abridge, limit, modify, or amend the "at will"
 nature of Employee's employment with Company. Except as set forth in Section 3 of this
 Agreement, upon Employee's separation from employment with the Company (for any reason),
 all compensation and benefits payable or provided to Employee shall, except as required by
 applicable law, terminate as of the effective date of Employee's termination (the "Termination
 Date").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.  **<u>Duties and Responsibilities</u>** . During Employee's employment with the Company, Employee
 shall at all times: (i) comply with the terms and conditions set forth in this Agreement;
 (ii) perform and carry out such responsibilities, duties, and authorities as the Company
 may direct, designate, request of, or assign to Employee from time to time, which shall include,
 but not necessarily be limited to, such duties, responsibilities and authorities that are
 typically performed by and assigned to employees in similar positions within similar companies;
 (iii) perform the duties and carry out the responsibilities assigned to him by the Company
 to the best of his ability, in a trustworthy, business-like, and efficient manner for the
 purpose of advancing the business and interests of the Company; (iv) devote sufficient time,
 attention, effort, and skill to his position with and the business of the Company; (v) comply
 with and abide by the Company's policies, practices, and procedures (as may be amended
 or otherwise modified from time to time by the Company); and (vi) comply with all laws, rules,
 regulations, and licensing requirements of, or that may be applicable to, his employment
 with the Company.

In the event that any term(s) of this Agreement conflicts with a term(s) of any employee handbook, policy, practice, or procedure adopted or maintained, at any time, by the Company, the term(s) of this Agreement shall control and supersede such conflicting term(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.  **<u>No Conflicts</u>** . Employee represents and warrants that he is not bound by or subject to
 any written or oral agreement, pact, covenant, or understanding with any previous or concurrent
 employer, or any other party, that would limit, abridge, restrict, or interfere with, in
 any way, his ability to perform his duties and obligations hereunder. Employee further represents
 and warrants that the performance of his duties and obligations hereunder shall not violate
 any written or oral agreement, pact, covenant, or understanding by and between him and any
 previous or concurrent employer, or any other party. Employee further represents and warrants
 that he will not use any trade secret, or confidential or proprietary information, of any
 of his previous or concurrent employers, or that was obtained, learned, or procured during
 any period of employment prior to or concurrent with his employment with the Company, in
 connection with his employment with the Company or in the performance of his duties and obligations
 hereunder.

2. **<u>COMPENSATION AND BENEFITS</u>**<u>.</u> Subject to the terms and conditions of Sections 1 and 3 of this Agreement and Employee's continued employment with the Company, and in consideration for the services to be provided hereunder by Employee, the Company hereby agrees to pay or otherwise provide Employee with the following compensation and benefits during his employment with the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.  **<u>Sign-on Bonus</u>** . The Company shall, within thirty (30) days after the Start Date, pay to Employee
 a sign-on bonus equal to $150,000, less applicable taxes, withholdings, and deductions, and
 any other deductions that may be authorized by Employee, from time to time, in accordance
 with applicable federal, state, and/or local law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.  **<u>Annual Salary</u>** . The Company shall pay Employee a base salary equal to $500,000 per year (as
 it may be adjusted from time to time, the "Annual Salary"), less applicable taxes,
 withholdings, and deductions, and any other deductions that may be authorized by Employee,
 from time to time, in accordance with applicable federal, state, and/or local law. The Annual
 Salary shall be payable in accordance with the Company's standard payroll practices
 and procedures, as in effect from time to time. Employee acknowledges and understands that
 his position of employment with the Company is considered "exempt," as that term
 is defined under the Fair Labor Standards Act and applicable state or local law. As an exempt
 employee, Employee is not eligible to receive overtime pay.

Notwithstanding the foregoing, the Annual Salary may be reviewed by the Company from time to time and may be subject to upward or downward adjustment, in the Company's sole discretion, based upon a review and consideration of various factors, including but not limited to Employee's performance and/or the Company's overall financial performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.  **<u>Bonus</u>** .
 Subject to the conditions set forth herein, Employee will be paid an annual performance-based
 cash bonus (the "Annual Bonus") as follows: (i) for 2025, a minimum amount equal
 to $125,000; (ii) for 2026, (x) $500,000, <u>plus</u> (y) such additional amount as determined
 by the Board in its sole and absolute discretion, with the target level for such additional
 amount being $250,000 initially; and (iii) for calendar years following 2026, an amount determined
 by the Board in its sole and absolute discretion. The Annual Bonus will be payable in the
 form of a lump sum cash payment no later than March 15th of the calendar year that immediately
 follows the calendar year to which the Annual Bonus relates. In order for Employee to be
 eligible to receive the Annual Bonus pursuant to this Section 2(c), Employee must remain
 continuously employed by the Company through the payment date to which such Annual Bonus
 relates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.  **<u>Performance Equity Awards</u>** . At a time determined by the Board, Employee will be eligible to receive
 a grant of performance-based restricted stock units under the Tharimmune, Inc. 2023 Omnibus
 Equity Incentive Plan, as amended or any successor or separate plan (the "Plan")
 in an amount equal to 1.0% of the shares of the common stock of the Company on a "Fully
 Diluted Basis" as of immediately following the completion of the closing of the private
 placement of public equity (the consummation of the transactions contemplated in the "PIPE
 Financing" (defined below) (the "Closing")), subject to the approval of
 the Board (or its compensation committee) (the "Performance Equity Awards"),
 with the actual number of shares of common stock of the Company underlying the Performance
 Equity Awards to be calculated in good faith by the Board. The Performance Equity Awards
 shall be subject to the performance goals set forth herein (the "Performance Goals").
 Fifty percent (50%) of the Performance Equity Awards shall be eligible to performance-vest
 upon the satisfaction of the following Performance Goals, subject to Employee's continued
 employment with the Company and good standing through each applicable vesting date:

12.5% upon the occurrence of both a 50% increase in "Canton Coin per share" (defined below) from "Baseline" (defined below) and a 100% increase in "Stock Trading Price" (defined below) from the "Closing Price" (defined below);

12.5% upon the occurrence of both a 100% increase in Canton Coin per share from Baseline and a 200% increase in the Stock Trading Price from the Closing Price;

12.5% upon the occurrence of both a 150% increase in Canton Coin per share from Baseline and a 400% increase in the Stock Trading Price from the Closing Price; and

12.5% upon the occurrence of both a 200% increase in Canton Coin per share from Baseline and a 800% increase in the Stock Trading Price from the Closing Price.

For purposes herein: (i) "Stock Trading Price" means a ten (10) day VWAP relating to the shares of common stock of the Company; (ii) "Closing Price" means the price of a share of common stock of the Company in connection with the PIPE Financing (defined below); (iii) "Fully Diluted Basis" means the total common shares of the Company, including the number of shares issued in connection with and/or the number of any pre-funded warrants in connection with the PIPE Financing; (iv) "PIPE Financing" means the offer, sale and issuance of the securities of the Company's common stock in a private placement offering pursuant to a certain subscription agreement dated _______ __, ____; (v) "Baseline" means (x) the number of Canton Coin contributed to the Company in connection with the PIPE Financing plus the Additional Canton Coin Amount (as defined below), divided by (y) the shares of common stock of the Company on a Fully Diluted Basis as of immediately following the Closing; (vi) "Additional Canton Coin Amount" means a number of Canton Coin equal to (x) the cash proceeds from the PIPE Financing, divided by (y) the value ascribed to each share of Canton Coin contributed to the Company in connection with the PIPE Financing; and (vii) "Canton Coin per share" means the actual number of Canton Coin held by the Company divided by the outstanding shares of the Company on a Fully Diluted Basis. In the event of any stock dividend, stock split, reverse stock split, combination or exchange of shares, merger, consolidation, or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of the Company's stock or the share price of the Company, the Board may such equitable adjustments, if any (including, for the avoidance of doubt, equitably adjusting the calculation of "Canton Coin per share" set forth herein) necessary to retain the intent of the Performance Equity Award conditions in light of such change.

Fifty percent (50%) of the Performance Equity Awards shall be eligible to time-vest over a four-year period, with no vesting during the first twelve (12) months following the grant date (the "Cliff Period"), and thereafter twenty-five percent (25%) of the Performance Equity Awards shall vest upon completion of the Cliff Period, with the remaining seventy-five percent (75%) vesting in equal quarterly installments over the subsequent thirty six (36) months, subject to Employee's continued employed with the Company and good standing through each applicable vesting date (the "Time-Vesting Conditions").

The Performance Equity Awards shall be subject to other customary terms to be set forth in the corresponding award agreement and the Plan. For the avoidance of doubt, no Performance Equity Awards shall be granted to Employee unless and until (i) the Closing is consummated; (ii) the board of directors of the Company and the shareholders of the Company approve the Plan (if applicable); and (iii) the shares underlying the Plan are registered on a Form S-8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.  **<u>Benefit Plans</u>** . Employee shall be entitled to participate in any and all medical insurance,
 group health, disability insurance, life insurance, incentive, savings, retirement, and other
 benefit plans, if any, which are made generally available to similarly-situated employees
 of the Company (and subject to eligibility requirements, enrollment criteria, and other terms
 and conditions of such plans), and which the Company (or any affiliate maintaining any such
 arrangement), in its sole discretion, may at any time amend, modify, or terminate, subject
 to the terms and conditions of such plans and applicable federal, state, or local law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.  **<u>Vacation and Sick Leave</u>** . Employee shall be entitled to vacation and sick leave in accordance
 with the Company's respective vacation and sick leave policies, as in effect from time
 to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.  **<u>Expenses</u>** .
 Employee shall be entitled to reimbursement for all reasonable expenses that he incurs in
 connection with the performance of his duties and obligations hereunder. Upon presentment
 by Employee of appropriate and sufficient documentation, as determined in the Company's
 sole discretion, the Company shall reimburse Employee for all such expenses in accordance
 with the Company's expense reimbursement policy, as in effect from time to time.

3. **<u>EFFECT OF TERMINATION</u>**. Employee's employment may be terminated by the Company for Cause (as defined below) or without Cause or by Employee's resignation for any reason. In the event of any such termination, Employee shall only be entitled to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Termination of Employment for Any Reason, Resignation by the Employee, or Termination by the Company for Cause</u>. If Employee's employment is terminated for any reason, is terminated
 by the Company for Cause or Employee resigns from his employment for any reason, then in
 full satisfaction of the Company's obligations under this Agreement, Employee shall
 be entitled to receive (i) any vacation accrued but unused as of the Termination Date, subject
 to the Company's policies regarding vacation pay, and (ii) any Annual Salary earned
 but unpaid as of the Termination Date (the "Accrued Obligations").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Termination by the Company without Cause, or Resignation by the Employee for Good Reason</u>. If Employee's
 employment is terminated by the Company without Cause or by Employee for Good Reason (as
 defined below), subject to Employee executing and not revoking a general release of all claims
 against the Company, its subsidiaries, and any of their respective affiliates in a form to
 be provided to Employee from the Company (a "Release") and the expiration of
 any applicable revocation period with respect to the Release within forty-five (45) days
 after Employee's Termination Date (the last day of the maximum period of time that
 the Release can be executed and no longer revocable, the "Release Consideration Expiration
 Date", and the actual date in which the Release is fully effective and no longer revocable,
 the "Release Effective Date"), then in full satisfaction of the Company's
 obligations under this Agreement, Employee shall be entitled to receive the following: (i)
 the Severance Amount (as defined below), which shall be paid in equal monthly installments
 over the course of twelve (12) months in accordance with the Company's general payroll
 practices, with the first installment to be paid on the first payroll date following the
 effective date of the Release (the "Severance Payment Commencement Date"), with
 any such payments that would have otherwise been made to Employee following their Termination
 Date but prior to the Release Effective Date to be paid on the Severance Payment Commencement
 Date; and (ii) any Accrued Obligations as of the Termination Date. For purposes of this Section,
 the "Severance Amount" means an amount equal to the twelve (12) months of then-current
 Annual Salary as of the Termination Date; provided, however, that if Employee's employment
 is terminated by the Company without Cause or by Employee for Good Reason prior to the date
 in 2027 that Employee is paid his Annual Bonus that relates to calendar year 2026, then the
 "Severance Amount" shall be $1,000,000. In addition, If Employee's employment
 is terminated by the Company without Cause or by Employee for Good Reason, in either case
 within twelve (12) months following a Change in Control (as defined below), then all unvested
 Time-Vesting Conditions of the Performance Equity Awards shall accelerate and vest in full.

For purposes herein, "Cause" shall mean the occurrence of any one or more of the following events, as determined in the sole discretion of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Employee's
 willful misconduct, gross negligence, or material failure to perform the duties and responsibilities
 of their position (other than as a result of physical or mental incapacity), after written
 notice from the Company and a reasonable opportunity to cure, if curable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Employee's
 material violation of any written policy, code of conduct, or procedure of the Company, its
 subsidiaries, or any of their respective affiliates, including but not limited to those relating
 to harassment (including sexual harassment), discrimination, workplace safety, or substance
 abuse.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Employee's
 commission of any conduct which causes or could reasonably be expected to cause material
 financial or reputational harm to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Employee's
 commission of, or participation in, any act of fraud, dishonesty, embezzlement, misappropriation,
 or other act of material misconduct with respect to the Company, its subsidiaries, or any
 of their respective affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Employee's
 commission of, indictment for, conviction of, or plea of guilty or nolo contendere to, a
 felony or any crime involving moral turpitude, dishonesty, or theft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Employee's
 material breach of this Agreement or any other written agreement with the Company, its subsidiaries,
 or any of their respective affiliates, or Employee's breach of any fiduciary duty owed
 to the Company, its subsidiaries, or any of their respective affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Employee's
 unauthorized use or disclosure of any confidential or proprietary information of the Company,
 its subsidiaries, or any of their respective affiliates, or breach of any non-solicit, confidentiality,
 or other restrictive covenant to which the Employee may be subject, including, without limitation,
 Section 4 of this Agreement.

"Good Reason" shall mean Employee's termination of his employment in accordance with the next sentence after the occurrence of one or more of the following events without Employee's express written consent: (i) a material diminishment of Employee's job title; (ii) a material reduction by the Company in Employee's rate of Annual Salary (other than diminutions of annual salaries across the board for senior executives and not exceeding 20%); (iii) the Company's material breach of this Agreement, after written notice from Employee and a reasonable opportunity to cure; or (iv) Employee being required to relocate the Employee's primary work location to a facility or location that would increase the Employee's one way commute distance by more than thirty (30) miles from the Employee's primary work location as of immediately prior to such change; provided, that a relocation of less than thirty (30) miles from Employee's then present location will not be considered a material change in geographic location.

For purposes herein, a "Change in Control" means and includes each of the following, unless provided otherwise in Employee's applicable award agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. A
 transaction or series of transactions (other than an offering of common stock to the general
 public through a registration statement filed with the Securities and Exchange Commission)
 whereby any "person" or related "group" of "persons"
 (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of
 1934, as amended from time to time (the "Exchange Act")) directly or indirectly
 acquires beneficial ownership (within the meaning of Rules 13d-3 and 13d-5 under the Exchange
 Act) of securities of the Company possessing more than fifty percent (50%) of the total combined
 voting power of the Company's securities outstanding immediately after such acquisition;
 provided, however, that the following acquisitions shall not constitute a Change in Control:
 (i) any acquisition by the Company or any of its subsidiaries; (ii) any acquisition by an
 employee benefit plan maintained by the Company or any of its subsidiaries; or (iii) in respect
 of an award held by Employee, any acquisition by the Employee or any group of persons including
 the Employee (or any entity controlled by the Employee or any group of persons including
 the Employee);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The
 incumbent directors cease for any reason to constitute a majority of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The
 consummation by the Company (whether directly involving the Company or indirectly involving
 the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization,
 or business combination, (y) a sale or other disposition of all or substantially all of the
 Company's assets in any single transaction or series of related transactions, or (z)
 the acquisition of assets or stock of another entity, in each case other than a transaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. which
 results in the Company's voting securities outstanding immediately before the transaction
 continuing to represent (either by remaining outstanding or by being converted into voting
 securities of the Company or the person that, as a result of the transaction, controls, directly
 or indirectly, the Company or owns, directly or indirectly, all or substantially all of the
 Company's assets or otherwise succeeds to the business of the Company (the Company
 or such person, the "Successor Entity")) directly or indirectly, at least a majority
 of the combined voting power of the Successor Entity's outstanding voting securities
 immediately after the transaction, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. after
 which no person or group beneficially owns voting securities representing fifty percent (50%)
 or more of the combined voting power of the Successor Entity; provided, however, that no
 person or group shall be treated for purposes of this Section as beneficially owning fifty
 percent (50%) or more of the combined voting power of the Successor Entity solely as a result
 of the voting power held in the Company prior to the consummation of the transaction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. after
 which at least a majority of the members of the board of directors (or the analogous governing
 body) of the Successor Entity were Board members at the time of the Board's approval
 of the execution of the initial agreement providing for such transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. The
 date which is ten (10) business days prior to the completion of a liquidation or dissolution
 of the Company.

4. **<u>RESTRICTIVE COVENANTS</u>**. The Parties agree that the Company, its subsidiaries and their respective affiliates are engaged in a highly competitive industry and would suffer irreparable harm and incur substantial damage if Employee were to enter into competition with the Company and its subsidiaries and affiliates. Therefore, in order for the Company to protect its legitimate business interests, Employee covenants and agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Employee
 shall not, at any time during his employment with the Company and for a period of twelve
 (12) months thereafter, anywhere in the world or any jurisdiction in which the Company and
 its subsidiaries and affiliates conduct material business operations (the "Restricted
 Territory), either directly or indirectly: (i) accept employment with or render services
 to (whether as an agent, servant, owner, partner, consultant, employee, independent contractor,
 representative, director, officer, or stockholder) any person or entity that is a business
 competitor of the Company and its subsidiaries and affiliates or entity that competes with
 the Company and its subsidiaries and affiliates in the field of digital asset treasury ("DAT")

 or has at any time during Employee's employment with the Company engaged or attempted
 to engage in business competition with the Company and its subsidiaries and affiliates, in
 a position, capacity, or function that is similar, in title or substance, whether in whole
 or in part, to any position, capacity, or function that Employee held with or in which Employee
 served the Company; or (ii) invest in any person or entity that is a business competitor
 of the Company and its subsidiaries and affiliates, or has at any time during Employee's
 employment with the Company engaged or attempted to engage in business competition with the
 Company and its subsidiaries and affiliates, except that Employee may own up to one percent
 (1%) of any outstanding class of securities of any company registered under Section 12 of
 the Securities Exchange Act of 1934, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Employee
 shall not, at any time during his employment with the Company and for a period of twenty-four
 (24) months thereafter (the "Restricted Period") in the Restricted Territory,
 for any reason, on his own behalf or on behalf of any other person or entity, by or through
 any means including but not limited to social media: (i) solicit, invite, induce, cause,
 or encourage to alter or terminate his, her, or its business relationship with the Company
 and its subsidiaries and affiliates, any client, customer, supplier, vendor, licensee, licensor,
 or other person or entity that, at any time during Employee's employment with the Company,
 had a business relationship with the Company and its subsidiaries and affiliates, or any
 person or entity whose business the Company and its subsidiaries and affiliates was soliciting
 or attempting to solicit at the time of Employee's termination, (a) for whom Employee
 performed services or with whom Employee had contact during his employment with the Company,
 or whose business Employee was soliciting or attempting to solicit at the time of Employee's
 termination, and (b) with whom Employee did not have a business relationship prior to his
 employment with the Company; (ii) solicit, entice, attempt to solicit or entice, or accept
 business from any such client, customer, supplier, vendor, licensee, licensor, person, or
 entity; or (iii) interfere or attempt to interfere with any aspect of the business relationship
 between the Company and its subsidiaries and affiliates and any such client, customer, supplier,
 vendor, licensee, licensor, person, or entity; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Employee
 shall not, at any time during the Restricted Period in the Restricted Territory, either directly
 or indirectly, on his own behalf or on behalf of any other person or entity, by or through
 any means including but not limited to social media: (i) solicit, invite, induce, cause,
 or encourage any director, officer, employee, agent, representative, consultant, or contractor
 of the Company and its subsidiaries and affiliates to alter or terminate his, her, or its
 employment, relationship, or affiliation with the Company and its subsidiaries and affiliates;
 (ii) interfere or attempt to interfere with any aspect of the relationship between the Company
 and its subsidiaries and affiliates and any such director, officer, employee, agent, representative,
 consultant, or contractor; or (iii) engage, hire, or employ, or cause to be engaged, hired,
 or employed, in any capacity whatsoever, any such director, officer, employee, agent, representative,
 consultant, or contractor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Employee
 covenants and agrees that Employee shall not make any statement, written or verbal, in any
 forum or media, or take any other action or engage in any conduct that disparages the Company
 and its subsidiaries and affiliates, their services, products, officers, directors, managers,
 employees, shareholders, members, investments or agents. The Company and its subsidiaries
 and affiliates covenant and agree that the Company and its subsidiaries and affiliates shall
 not make any statement, written or verbal, in any forum or media, or take any other action
 or engage in any conduct that disparages Employee. Nothing in this Section 4(d) shall prohibit
 any Person from (A) testifying truthfully in any legal or administrative proceeding or otherwise
 truthfully responding to any other request for information or testimony to which such Person
 is legally required to respond; (B) making any truthful statement to the extent necessary
 to rebut any untrue public statements made by another Person; (C) making any statement or
 engaging in any conduct that would constitute a permitted disclosure; (D) making any truthful
 statement as part of or in any arbitration or court proceeding that involves such Person;
 or (E) making any truthful statement or expression of opinion in connection with requests
 from third parties for employment references or in connection with discussions involving
 matters of workplace concern, such as performance review, bonus determination, or investigation.

Employee represents, warrants, agrees, and understands that: (i) the covenants and agreements set forth in this Section 4 of the Agreement are reasonable in their geographic scope, temporal duration, and the type and scope of activities they restrict; (ii) the Company's agreement to employ Employee, and a portion of the compensation to be paid to Employee hereunder, are in consideration for such covenants and Employee's continued compliance therewith, and constitute adequate and sufficient consideration for such covenants; (iii) Employee shall not raise any issue of, nor contest or dispute, the reasonableness of the geographic scope, temporal duration, or content of such covenants and agreements in any proceeding to enforce such covenants and agreements; (iv) the enforcement of any remedy under this Agreement will not prevent Employee from earning a livelihood, because Employee's past work history and abilities are such that Employee can reasonably expect to find work in other areas and lines of business; (v) the covenants and agreements set forth in this Section 4 of the Agreement are essential for the Company's and its subsidiaries and affiliates reasonable protection, are designed to protect the Company's and its subsidiaries and affiliates legitimate business interests, and are necessary and implemented for legitimate business reasons; and (vi) in entering into this Agreement, the Company has relied upon Employee's representation that he will comply in full with the covenants and agreements set forth in this Section 4 of the Agreement.

If Employee breaches Section 4(a), 4(b), or 4(c) above, then the period during which that section remains in effect shall be extended by the length of time during which such breach continues.

5. **<u>CONFIDENTIALITY</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.  **<u>Confidential Information</u>** . Employee acknowledges that during his employment with the Company, and
 by the nature of Employee's duties and obligations hereunder, Employee will come into
 close contact with confidential information of the Company and its subsidiaries, affiliates,
 and/or other related entities, as applicable, including but not limited to: trade secrets,
 know-how, Intellectual Property (as that term is defined below), business plans, client/customer
 lists, pricing, sales and marketing information, products, research, algorithms, market intelligence,
 services, technologies, concepts, methods, sources, methods of doing business, patterns,
 processes, compounds, formulae, programs, devices, tools, compilations of information, development,
 manufacturing, purchasing, engineering, computer programs (whether in source code or object
 code), theories, techniques, procedures, strategies, systems, designs, works of art, the
 identity of and any information concerning affiliates or customers, or potential customers,
 information received from others that the Company and its subsidiaries and affiliates are
 obligated to treat as confidential or proprietary, and any other technical, operating, non-public
 financial, and other business information that has commercial value, whether relating to
 the Company, its business, potential business, or operations, or the business of any of the
 Company's and its affiliates, subsidiaries, related entities, clients, customers, suppliers,
 vendors, licensees, or licensors, that Employee may develop or of which Employee may acquire
 knowledge during his employment with the Company, or from his colleagues while working for
 the Company, whether prior to, during, or subsequent to his execution of this Agreement,
 and all other business affairs, methods, and information not readily available to the public
 (collectively, "Confidential Information"). Confidential Information does not
 include: (i) Employee's general skills and experience; (ii) information that was lawfully
 in Employee's possession prior to his employment with the Company (other than through
 breach by a third party of any confidentiality obligation to the and its subsidiaries and
 affiliates); (iii) information that is or becomes publicly available without any direct or
 indirect act or omission on Employee's part; (iv) information that is required to be
 disclosed pursuant to any applicable law, regulation, judicial or administrative order or
 decree, or request by other regulatory organization having authority pursuant to the law;
 provided, however, that, except as set forth in and subject to Section 5(b) of this Agreement,
 Employee shall first have given reasonable notice to the Company prior to making such disclosure;
 or (v) information that is generally known within the industries or trades in which the Company
 and its subsidiaries and affiliates transact business.

The term "Intellectual Property" means all discoveries, procedures, designs, creations, developments, improvements, methods, techniques, practices, methodologies, data models, databases, scripts, know-how, processes, algorithms, application program interfaces, software programs, software source documents and training manuals, codes, formulae, works of authorship, mask-works, reports, memoranda, ideas, inventions, customer lists, business and/or financial information, and contributions of any kind, whether or not they are patentable, registrable, or protectable under federal or state patent, copyright, or trade secret laws, or similar statutes, or protectable under common-law principles, and regardless of their form or state of development, that are made, conceived, generated, or reduced to practice by Employee, in whole or in part, either alone or jointly with others, or while Employee was serving as an officer, director, employee, or consultant of, or in any other capacity with, the Company. Notwithstanding anything else in this Agreement, and as it used in this Section 5, the term "Intellectual Property" excludes any software program, application program interface, equipment, supplies, resources, facilities, data, products, information, materials, or trade secrets used by the Company and its subsidiaries and affiliates, and which was developed entirely on Employee's own time, unless said Intellectual Property: (i) relates to the Company's and its subsidiaries and affiliates business or potential business; or (ii) results from tasks assigned to Employee by the Company or from work performed by Employee for the Company.

Employee acknowledges and agrees that each and every part of the Company's and its subsidiaries and affiliates Confidential Information: (a) has been developed by the Company and its subsidiaries and affiliates at significant effort and expense; (b) is sufficiently secret to derive economic value from not being generally known to other parties; (c) is proprietary to and a trade secret of the Company and its subsidiaries and affiliates and, as such, is a valuable, special, and unique asset of the Company and its subsidiaries and affiliates; and (d) constitutes a protectable business interest of the Company and its subsidiaries and affiliates. Employee further acknowledges and agrees that any unauthorized use or disclosure of any Confidential Information by Employee will cause irreparable harm and loss to the Company and its subsidiaries and affiliates. Employee acknowledges and agrees that the Company and its subsidiaries and affiliates own the Confidential Information. Employee agrees not to dispute, contest, or deny any such ownership rights either during or after Employee's employment with the Company.

In recognition of the foregoing, and except as set forth in and subject to Section 5(b) of this Agreement, Employee covenants and agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Employee
 will use Confidential Information only in the performance of his duties and obligations hereunder
 for the Company. Employee will not use Confidential Information, directly or indirectly,
 at any time during or after his employment with the Company, for his personal benefit, for
 the benefit of any other person or entity, or in any manner adverse to the interests of the
 Company and its subsidiaries and affiliates. Further, Employee will keep secret all Confidential
 Information and will not make use of, divulge, or otherwise disclose Confidential Information,
 directly or indirectly, to anyone outside of the Company, except with the Company's
 prior written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Employee
 will take all necessary and reasonable steps to protect Confidential Information from being
 disclosed to anyone within the Company who does not have a need to know the information and
 to anyone outside of the Company, except with the Company's prior written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Employee
 shall not at any time remove, copy, download, or transmit any information from the Company
 and its subsidiaries and affiliates during the term of this Agreement, except for the benefit
 of the Company and in accordance with this Agreement and the Company's policies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Promptly
 upon Employee's termination, and in any event no later than three (3) business days
 after Employee's employment with the Company ceases, Employee shall return to the Company
 and its subsidiaries and affiliates any and all Confidential Information in his possession,
 custody, or control, including but not limited to all memoranda, notes, records, plans, reports,
 forecast, marketing information, financial records and information, employee or contractor
 records and files, client lists, training materials, trade secrets, and all other documents
 (and all copies thereof), whether in electronic or hard copy form, which Employee obtained
 while employed by the Company or otherwise serving or acting on behalf of the Company, or
 which Employee may then possess or have under Employee's control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.  **<u>Duration of Covenant</u>** . Employee acknowledges and agrees that his obligations under this Section
 5 of the Agreement shall remain in effect forever.

Notwithstanding the foregoing, nothing in this Agreement shall be construed as, or shall interfere with, abridge, limit, restrain, or restrict Employee's (or his attorney's) right, without prior authorization from or notification to the Company: (i) to engage in any activity or conduct or any provision of the National Labor Relations Act (and, in fact, this Section 5 of the Agreement shall not apply to, among other things, any discussion of company wages, hours, and working conditions as protected by the National Labor Relations Act and/or any other applicable federal, state, or local law); (ii) to communicate with any federal, state, or local government agency charged with the enforcement and/or investigation of claims of discrimination, harassment, retaliation, improper wage payments, or any other unlawful employment practices under federal, state, or local law, or to file a charge, claim, or complaint with, or participate in or cooperate with any investigation or proceeding conducted by, any such agency; (iii) to report possible violations of federal, state, or local law or regulation to any government agency or entity, including but not limited, to the extent applicable, to the U.S. Department of Labor, the Department of Justice, the Securities and Exchange Commission (the "SEC"), the Congress, and/or any agency Inspector General, or make other disclosures that are protected under the whistleblower provisions of federal, state, or local law or regulation; or (iv) to communicate directly with, respond to any inquiry from, or provide testimony before, to the extent applicable, the SEC, the Financial Industry Regulatory Authority, any other self-regulatory organization, or any other federal, state, or local regulatory authority, regarding this Agreement or its underlying facts or circumstances.

In addition, Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, in the event that Employee files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Employee may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if Employee: (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.

To the extent that this Agreement conflicts with the federal Speak Out Act (Public Law No: 117-224), said act shall control and supersede the conflicting portion of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.  **<u>Retention of All Other Rights</u>** . Employee's obligations under this Section 5 of the Agreement
 are in addition to, and not in place or lieu of, any other statutory or common law obligations
 that Employee may have with regard to the maintenance, preservation, protection, use, and/or
 disclosure of Confidential Information, and the Company specifically reserves all rights
 it may have against Employee should Employee violate any such statutory or common law obligations.

6. **<u>INJUNCTIVE RELIEF</u>**. Employee agrees that it would be difficult to measure any damages caused to the Company and its subsidiaries and affiliates which might result from any breach by Employee of the covenants and agreements set forth in Sections 4 and 5 of this Agreement, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, and notwithstanding any other provision of this Agreement, Employee agrees that if Employee breaches, or the Company and its subsidiaries and affiliates reasonably believe that Employee is likely to breach, Sections 4 or 5 of this Agreement, the Company and its subsidiaries and affiliates shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach, without showing or proving any actual damage to the Company and its subsidiaries and affiliates. Any award or relief to the Company and its subsidiaries and affiliates may, in the discretion of the court, include the Company's and its subsidiaries and affiliates costs and expenses of enforcement (including reasonable attorneys' fees, court costs, and expenses). Nothing contained in this Section 6 of the Agreement or in any other provision of the Agreement shall restrict or limit in any manner the Company's and its subsidiaries and affiliates right to seek and obtain any form of relief, legal or equitable, and shall not waive the Company's and its subsidiaries and affiliates right to any other relief related to any dispute arising out of this Agreement or related to Employee's employment with the Company.

7. **<u>NOTICES</u>**. Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be deemed to have been given (i) when delivered personally or by hand (with written confirmation of receipt); (ii) if sent by a nationally-recognized overnight courier, on the date received by the addressee (with written confirmation of receipt); or (iii) on the date sent by electronic mail or facsimile (with confirmation of transmission), to the recipient(s) specified below (or to such other recipient and/or address as either Party may, from time to time, designate in writing in accordance with the terms and conditions of this Agreement).

8. **<u>LEGAL REPRESENTATION</u>**. Employee acknowledges that he was advised to consult with, and has had ample opportunity to receive the advice of, independent legal counsel before executing this Agreement – and the Company hereby advises Employee to do so – and that Employee has fully exercised that opportunity to the extent he desired. Employee acknowledges that he was provided a copy of this Agreement at least fourteen (14) calendar days before the date on which the Employee was required to sign. Employee understands that he is not required to wait the full fourteen (14) days and may voluntarily choose to sign this Agreement before the end of the fourteen (14) day review period. Employee warrants that he has carefully read this Agreement, that he understands completely its contents, that he understands the significance, nature, effect, and consequences of signing it, and that he has agreed to and signed this Agreement knowingly and voluntarily of his own free will, act, and deed, and for full and sufficient consideration.

9. **<u>ENTIRE AGREEMENT; AMENDMENT</u>**. This Agreement constitutes the entire agreement between the Parties relating to the subject matter hereof, and supersedes all prior agreements and understandings, whether oral or written, with respect to the same. In entering into and performing under this Agreement, neither the Company nor Employee has relied upon any promises, representations, or statements except as expressly set forth herein. No modification, alteration, amendment, revision of, or supplement to this Agreement shall be valid or effective unless the same is memorialized in a writing signed by both by Employee and a duly-authorized representative or agent of the Company. Neither e-mail correspondence, text messages, nor any other electronic communications constitutes a writing for purposes of this Section 9 of the Agreement.

10. **<u>GOVERNING LAW</u>**. This Agreement shall in all respects be interpreted, enforced, and governed by and in accordance with the internal substantive laws (and not the laws of choice or conflict of laws) of the State of Illinois.

11. **<u>ASSIGNMENT</u>**. This Agreement shall not be assignable by Employee, but shall be binding upon Employee and upon his heirs, administrators, representatives, executors, and successors. This Agreement shall be freely assignable by the Company without restriction and, without limitation of the foregoing, shall be deemed automatically assigned by the Company with Employee's consent in the event of any sale, merger, share exchange, consolidation, or other business reorganization. This Agreement shall inure to the benefit of the Company and its successors and assigns.

12. **<u>SEVERABILITY</u>**. If one or more of the provisions of this Agreement is deemed void by law, then the remaining provisions shall continue with full force and effect and, if legally permitted, such offending provision or provisions shall be replaced with an enforceable provision or enforceable provisions that as nearly as possible effects the Parties' intent. Without limiting the generality of the foregoing, the Parties hereby expressly state their intent that, to the extent any provision of this Agreement is deemed unenforceable due to the scope, whether geographic, temporal, or otherwise, being deemed excessive, unreasonable, and/or overbroad, the court, person, or entity rendering such opinion regarding the scope shall modify such provision(s), or shall direct or permit the Parties to modify such provision(s), to the minimum extent necessary to cause such provision(s) to be enforceable.

13. **<u>SURVIVAL</u>**. Upon the termination or expiration of this Agreement, the entire Agreement shall survive such termination or expiration, and shall continue, with full force and effect, in accordance with their respective terms and conditions.

14. **<u>WAIVER</u>**. The failure of either Party to insist, in any one or more instances, upon the performance of any of the terms, covenants, or conditions of this Agreement or to exercise any right hereunder, shall not be construed as a waiver or relinquishment of the future performance of any rights, and the obligations of the Party with respect to such future performance shall continue with full force and effect. No waiver of any such right will have effect unless given in a writing signed by the Party against whom the waiver is to be enforced.

15. **<u>COMPLIANCE WITH SECTION 409A OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION 409A")</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. It
 is the intention of the Parties that all payments and benefits under this Agreement (and
 any amendment hereto) shall be made and provided in a manner that is either exempt from or
 compliant with Section 409A of the Internal Revenue Code and the rules, regulations and notices
 thereunder ("Code Section 409A"). Any ambiguity in this Agreement (or any amendment
 hereto) shall be interpreted to comply with the above. Employee acknowledges that the Company
 has made no representations and makes no guarantee as to the treatment of the compensation
 and benefits provided hereunder and Employee has been advised to obtain his own tax advice,
 and further, Employees agrees that the Company and the Company's officers, employees,
 agents, equity holders, successors, affiliates and representatives shall have no liability
 for any of the payments or benefits under this Agreement or any other arrangement failing
 to be exempt from or to comply with Code Section 409A. Each amount or benefit payable pursuant
 to this Agreement (and any amendment hereto) shall be a separate payment for purposes of
 Code Section 409A. For all purposes of this Agreement, any iteration of the word "termination"
 (e.g., "terminated") with respect to Employee's employment shall mean a
 separation from service within the meaning of Code Section 409A. Without limiting the generality
 of the foregoing, for purposes of this Agreement, Employee shall be considered to have a
 termination of employment only if such termination is a "separation from service"
 within the meaning of Code Section 409A. If a Release Consideration Expiration Date could
 occur in a subsequent tax year, none of the payments set forth in Section 3(b) herein shall
 commence earlier than the second taxable year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. To
 the extent that the reimbursement of any benefits or the provision of any in-kind kind benefits
 pursuant to this Agreement is subject to Code Section 409A: (a) the amount of such expenses
 eligible for reimbursement, or in-kind benefits to be provided hereunder during any calendar
 year shall not affect the amount of such expenses eligible for reimbursement or in-kind benefits
 to be provided hereunder in any other calendar year; (b) all such expenses eligible for reimbursement
 hereunder shall be paid to the Employee no later than December 31<sup>st</sup> of the calendar
 year following the calendar year in which such expenses were incurred; and (c) Employee's
 right to receive any such reimbursements or in-kind benefits shall not be subject to liquidation
 or exchange for any other benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Notwithstanding
 anything in this Agreement to the contrary, in the event the stock of the Company (or its
 successor) is publicly traded on an established securities market or otherwise and the Employee
 is a "specified employee" (as determined under the Company's administrative
 procedure for such determinations, in accordance with Code Section 409A) at the time of Employee's
 termination of employment, any payments under this Agreement that are deemed to be deferred
 compensation subject to Code Section 409A and payable in connection with a separation from
 service shall not be paid or begin payment until the earlier of (a) Employee's death
 or (b) the first day following the six (6) month anniversary of the Termination Date. If
 the payment of any amounts under this Agreement are delayed as a result of the previous sentence,
 on the first day following the end of the six (6) month period, the Company shall pay Employee
 a lump sum amount equal to the cumulative amounts that would have otherwise been previously
 paid to Employee under this Agreement during such six (6) month period, without interest
 thereon. To the extent permitted under Code Section 409A, any separate payment or benefits
 under this Agreement or otherwise shall not be "deferred compensation" subject
 to Code Section 409A and the six-month delay provided in this subsection, to the extent provided
 in the exceptions in Treasury Regulation Section 1.409A-1(b)(4) and (b)(9) and any other
 applicable exception or provision under Code Section 409A.

16. **<u>TAXES</u>**. The Parties acknowledge and agree that the Company may withhold from any amounts payable under this Agreement such federal, state, local, and foreign taxes and withholdings as may be required to be withheld pursuant to any applicable law, rule, or regulation.

17. **<u>SECTION HEADINGS</u>**. The section headings used in this Agreement are included solely for convenience, and shall not affect, or be used in connection with, the interpretation of this Agreement. Any reference to any gender in this Agreement shall include, where appropriate, any other gender.

18. **<u>COUNTERPARTS</u>**. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

*(Signature Page Follows)*

 

**IN WITNESS WHEREOF**, the Parties have executed this Agreement as of the day and year first above written.

---

| | | | |
|:---|:---|:---|:---|
| **EMPLOYEE** | **EMPLOYEE** | **THARIMMUNE, INC.** | **THARIMMUNE, INC.** |
| By: |  | By: |  |
|  | Mark Wendland |  | Sireesh Appajosyula |

---

## Exhibit 10.7

**Exhibit 10.7**

**EMPLOYMENT AGREEMENT**

This Employment Agreement (this "Agreement") is made as of November __, 2025 and is entered into by and between Tharimmune, Inc. (the "Company") and Mark Toomey ("Employee") (collectively with the Company, the "Parties"; each of the Parties referred to individually as a "Party").

**WHEREAS**, the Company desires to employ Employee in accordance with the terms and conditions set forth below; and

**WHEREAS**, Employee desires to be employed by the Company in accordance with the terms and conditions set forth below.

**NOW, THEREFORE**, in consideration of the promises and mutual covenants and agreements set forth in this Agreement, the Parties hereby agree as follows:

1. **<u>EMPLOYMENT</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.  **<u>Title</u>** .
 The Company hereby agrees to employ Employee, and Employee hereby accepts such employment, as President of the Company, reporting to
 the Chief Executive Officer of the Company (the
 "CEO").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.  **<u>Employment Period</u>** . Employee's employment with the Company shall commence on __________
 __, 2025 (the "Start Date"). This Agreement shall be effective as of the Start
 Date and shall continue until terminated in accordance with the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.  **<u>Principal Place of Employment</u>** . Employee's principal place of employment shall be New York, New York; provided, however, that it is understood that travel may be necessary to fulfill
 Employee's duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.  **<u>At Will Relationship</u>** . Employee's employment shall be considered "at will"
 in nature and, accordingly, either the Company or Employee may terminate this Agreement and
 Employee's employment at any time and for any reason, with or without cause or prior
 notice. Nothing in this Agreement, including but not limited to Section 3 hereof, shall be
 construed as, or shall interfere with, abridge, limit, modify, or amend the "at will"
 nature of Employee's employment with Company. Except as set forth in Section 3 of this
 Agreement, upon Employee's separation from employment with the Company (for any reason),
 all compensation and benefits payable or provided to Employee shall, except as required by
 applicable law, terminate as of the effective date of Employee's termination (the "Termination
 Date").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.  **<u>Duties and Responsibilities</u>** . During Employee's employment with the Company, Employee
 shall at all times: (i) comply with the terms and conditions set forth in this Agreement;
 (ii) perform and carry out such responsibilities, duties, and authorities as the CEO
 may direct, designate, request of, or assign to Employee from time to time, which shall include,
 but not necessarily be limited to, such duties, responsibilities and authorities that are
 typically performed by and assigned to employees in similar positions within similar companies;
 (iii) perform the duties and carry out the responsibilities assigned to him by the CEO of the Company
 to the best of his ability, in a trustworthy, business-like, and efficient manner for the
 purpose of advancing the business and interests of the Company; (iv) devote sufficient time,
 attention, effort, and skill to his position with and the business of the Company; (v) comply
 with and abide by the Company's policies, practices, and procedures (as may be amended
 or otherwise modified from time to time by the Company); and (vi) comply with all laws, rules,
 regulations, and licensing requirements of, or that may be applicable to, his employment
 with the Company.

In the event that any term(s) of this Agreement conflicts with a term(s) of any employee handbook, policy, practice, or procedure adopted or maintained, at any time, by the Company, the term(s) of this Agreement shall control and supersede such conflicting term(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.  **<u>No Conflicts</u>** . Employee represents and warrants that he is not bound by or subject to
 any written or oral agreement, pact, covenant, or understanding with any previous or concurrent
 employer, or any other party, that would limit, abridge, restrict, or interfere with, in
 any way, his ability to perform his duties and obligations hereunder. Employee further represents
 and warrants that the performance of his duties and obligations hereunder shall not violate
 any written or oral agreement, pact, covenant, or understanding by and between him and any
 previous or concurrent employer, or any other party. Employee further represents and warrants
 that he will not use any trade secret, or confidential or proprietary information, of any
 of his previous or concurrent employers, or that was obtained, learned, or procured during
 any period of employment prior to or concurrent with his employment with the Company, in
 connection with his employment with the Company or in the performance of his duties and obligations
 hereunder.

2. **<u>COMPENSATION AND BENEFITS</u>**<u>.</u> Subject to the terms and conditions of Sections 1 and 3 of this Agreement and Employee's continued employment with the Company, and in consideration for the services to be provided hereunder by Employee, the Company hereby agrees to pay or otherwise provide Employee with the following compensation and benefits during his employment with the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.  **<u>Annual Salary</u>** . The Company shall pay Employee a base salary equal to $500,000 per year (as
 it may be adjusted from time to time, the "Annual Salary"), less applicable taxes,
 withholdings, and deductions, and any other deductions that may be authorized by Employee,
 from time to time, in accordance with applicable federal, state, and/or local law. The Annual
 Salary shall be payable in accordance with the Company's standard payroll practices
 and procedures, as in effect from time to time. Employee acknowledges and understands that
 his position of employment with the Company is considered "exempt," as that term
 is defined under the Fair Labor Standards Act and applicable state or local law. As an exempt
 employee, Employee is not eligible to receive overtime pay.

Notwithstanding the foregoing, the Annual Salary may be reviewed by the Company from time to time and may be subject to upward or downward adjustment, in the Company's sole discretion, based upon a review and consideration of various factors, including but not limited to Employee's performance and/or the Company's overall financial performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.  **<u>Bonus</u>** .
 Subject to the conditions set forth herein, Employee will be eligible for an annual performance-based cash bonus, in an amount
 determined by the Board of Directors of the Company (the "Board") in its sole and absolute discretion (the "Annual
 Bonus"). Such Annual Bonus will be payable in the form of a lump sum cash payment no later than March 15th of the calendar
 year that immediately follows the calendar year to which the Annual Bonus relates. Except as provided below in Section 3(b), in order for Employee to be eligible to receive
 the Annual Bonus pursuant to this Section 2(b), Employee must remain continuously employed by the Company through the payment date
 to which such Annual Bonus relates. Notwithstanding the foregoing, to the extent that the Start Date is prior to December 31, 2025, (i) for the period
between the Start Date and December 31, 2025, Employee shall receive a minimum Annual Bonus equal to $125,000 and (ii) for the 2026 calendar
year, Employee shall receive a minimum Annual Bonus equal to $500,000 (together, the "Guaranteed Bonuses").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.  **<u>Performance Equity Awards</u>** . At a time determined by the Board, Employee will be eligible to receive
 a grant of performance-based restricted stock units under the Tharimmune, Inc. 2023 Omnibus
 Equity Incentive Plan, as amended or any successor or separate plan (the "Plan")
 in an amount equal to 0.9% of the shares of the common stock of the Company on a "Fully
 Diluted Basis" as of immediately following the completion of the closing of the private
 placement of public equity (the consummation of the transactions contemplated in the "PIPE
 Financing" (defined below) (the "Closing")), subject to the approval of
 the Board (or its compensation committee) (the "Performance Equity Awards"),
 with the actual number of shares of common stock of the Company underlying the Performance
 Equity Awards to be calculated in good faith by the Board. The Performance Equity Awards
 shall be subject to the performance goals set forth herein (the "Performance Goals").
 Fifty percent (50%) of the Performance Equity Awards shall vest
 upon the satisfaction of the following Performance Goals, subject to Employee's continued
 employment with the Company and good standing through each applicable vesting date:

12.5% upon the occurrence of both a 50% increase in "Canton Coin per share" (defined below) from "Baseline" (defined below) and a 100% increase in "Stock Trading Price" (defined below) from the "Closing Price" (defined below);

12.5% upon the occurrence of both a 100% increase in Canton Coin per share from Baseline and a 200% increase in the Stock Trading Price from the Closing Price;

12.5% upon the occurrence of both a 150% increase in Canton Coin per share from Baseline and a 400% increase in the Stock Trading Price from the Closing Price; and

12.5% upon the occurrence of both a 200% increase in Canton Coin per share from Baseline and a 800% increase in the Stock Trading Price from the Closing Price.

For purposes herein: (i) "Stock Trading Price" means a ten (10) day VWAP relating to the shares of common stock of the Company; (ii) "Closing Price" means price of a share of common stock of the Company in connection with the PIPE Financing (defined below); (iii) "Fully Diluted Basis" means the total common shares of the Company, including the number of shares issued in connection with and/or the number of any pre-funded warrants in connection with the PIPE Financing; (iv) "PIPE Financing" means the offer, sale and issuance of the securities of the Company's common stock in a private placement offering pursuant to a certain subscription agreement dated _______ __, ____; (v) "Baseline" means (x) the number of Canton Coin contributed to the Company in connection with the PIPE Financing plus the Additional Canton Coin Amount (as defined below), divided by (y) the shares of common stock of the Company on a Fully Diluted Basis as of immediately following the Closing; (vi) "Additional Canton Coin Amount" means a number of Canton Coin equal to (x) the cash proceeds from the PIPE Financing, divided by (y) the value ascribed to each share of Canton Coin contributed to the Company in connection with the PIPE Financing; and (vii) "Canton Coin per share" means the actual number of Canton Coin held by the Company divided by the outstanding shares of the Company on a Fully Diluted Basis. In the event of any stock dividend, stock split, reverse stock split, combination or exchange of shares, merger, consolidation, or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of the Company's stock or the share price of the Company, the Board shall make such equitable adjustments, if any (including, for the avoidance of doubt, equitably adjusting the calculation of "Canton Coin per share" set forth herein) necessary to retain the intent of the Performance Equity Award conditions in light of such change.

Fifty percent (50%) of the Performance Equity Awards shall time-vest over a four-year period, with no vesting during the first twelve (12) months following the grant date (the "Cliff Period"), and thereafter twenty-five percent (25%) of the Performance Equity Awards shall vest upon completion of the Cliff Period, with the remaining seventy-five percent (75%) vesting in equal quarterly installments over the subsequent thirty six (36) months, subject to Employee's continued employment with the Company and good standing through each applicable vesting date (the "Time-Vesting Conditions").

The Performance Equity Awards shall be subject to other customary terms to be set forth in the corresponding award agreement and the Plan. For the avoidance of doubt, no Performance Equity Awards shall be granted to Employee unless and until (i) the Closing is consummated; (ii) the board of directors of the Company and the shareholders of the Company approve the Plan (if applicable); and (iii) the shares underlying the Plan are registered on a Form S-8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.  **<u>Benefit Plans</u>** . Employee shall be entitled to participate in any and all medical insurance,
 group health, disability insurance, life insurance, incentive, savings, retirement, and other
 benefit plans, if any, which are made generally available to similarly-situated employees
 of the Company (and subject to eligibility requirements, enrollment criteria, and other terms
 and conditions of such plans), and which the Company (or any affiliate maintaining any such
 arrangement), in its sole discretion, may at any time amend, modify, or terminate, subject
 to the terms and conditions of such plans and applicable federal, state, or local law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.  **<u>Vacation and Sick Leave</u>** . Employee shall be entitled to vacation and sick leave in accordance
 with the Company's respective vacation and sick leave policies, as in effect from time
 to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.  **<u>Expenses</u>** .
 Employee shall be entitled to reimbursement for all reasonable expenses that he incurs in
 connection with the performance of his duties and obligations hereunder. Upon presentment
 by Employee of appropriate and sufficient documentation, as determined in the Company's
 sole discretion, the Company shall reimburse Employee for all such expenses in accordance
 with the Company's expense reimbursement policy, as in effect from time to time.

3. **<u>EFFECT OF TERMINATION</u>**. Employee's employment may be terminated by the Company for Cause (as defined below) or without Cause or by Employee's resignation for any reason. In the event of any such termination, Employee shall only be entitled to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Termination of Employment for Any Reason, Resignation by the Employee, or Termination by the Company for Cause</u>. If Employee's employment is terminated for any reason, is terminated
 by the Company for Cause or Employee resigns from his employment for any reason other than Good Reason, then in
 full satisfaction of the Company's obligations under this Agreement, Employee shall
 be entitled to receive, within thirty (30) days after the Termination Date, (i) any vacation accrued but unused as of the Termination Date, subject
 to the Company's policies regarding vacation pay, and (ii) any Annual Salary earned
 but unpaid as of the Termination Date (the "Accrued Obligations").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Termination by the Company without Cause, or Resignation by the Employee for Good Reason</u>. If Employee's employment is terminated by
 the Company without Cause or by Employee for Good Reason (as defined below), subject to Employee executing and not revoking a
 general release of all claims against the Company, its subsidiaries, and any of their respective affiliates in a form to be provided
 to Employee from the Company (a "Release") and the expiration of any applicable revocation period with respect to the
 Release within forty-five (45) days after Employee's Termination Date (the last day of the maximum period of time that the
 Release can be executed and no longer revocable, the "Release Consideration Expiration Date", and the actual date in
 which the Release is fully effective and no longer revocable, the "Release Effective Date"), then in full satisfaction
 of the Company's obligations under this Agreement, Employee shall be entitled to receive the following: (i) an amount equal to
 twelve (12) months of then-current Annual Salary, as of the Termination Date, which shall be paid, in equal
 monthly installments in accordance with the Company's general payroll practices, with
 the first installment to be paid on the first payroll date following the effective date of the Release (the "Severance Payment
 Commencement Date"), with any such payments that would have otherwise been made to Employee following their Termination Date
 but prior to the Release Effective Date to be paid on the Severance Payment Commencement Date; (ii) any unpaid portion of the Guaranteed Bonuses as of the Termination Date (which shall be paid within thirty (30) days
after the Termination Date), (iii) any Accrued Obligations as
 of the Termination Date; and (iv) provided that Employee terminates for Good Reason or is
 terminated by the Company without Cause within twelve
 (12) months following a Change in Control (defined below), all unvested Time-Vesting Conditions of the Performance Equity
 Awards shall accelerate and vest in full.

For purposes herein, "Cause" shall mean the occurrence of any one or more of the following events, as determined in the sole discretion of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Employee's
 willful misconduct, gross negligence, or material failure to perform the duties and responsibilities
 of his position (other than as a result of physical or mental incapacity), after written
 notice from the Company and a reasonable opportunity to cure, if curable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Employee's
 material violation of any written policy, code of conduct, or procedure of the Company, its
 subsidiaries, or any of their respective affiliates, including but not limited to those relating
 to harassment (including sexual harassment), discrimination, workplace safety, or substance
 abuse.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Employee's
 commission of any conduct which causes or could reasonably be expected to cause material
 financial or reputational harm to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Employee's
 commission of, or participation in, any act of fraud, dishonesty, embezzlement, misappropriation,
 or other act of material misconduct with respect to the Company, its subsidiaries, or any
 of their respective affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Employee's
 commission of, indictment for, conviction of, or plea of guilty or nolo contendere to, a
 felony or any crime involving moral turpitude, dishonesty, or theft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Employee's
 material breach of this Agreement or any other written agreement with the Company, its subsidiaries,
 or any of their respective affiliates, or Employee's breach of any fiduciary duty owed
 to the Company, its subsidiaries, or any of their respective affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Employee's
 unauthorized use or disclosure of any confidential or proprietary information of the Company,
 its subsidiaries, or any of their respective affiliates, or breach of any non-solicit, confidentiality,
 or other restrictive covenant to which the Employee may be subject, including, without limitation,
 Section 4 of this Agreement.

"Good Reason" shall mean Employee's termination of his employment in accordance with the next sentence after the occurrence of one or more of the following events without Employee's express written consent: (i) a material diminishment of Employee's job title; (ii) a material reduction by the Company in Employee's rate of Annual Salary (other than diminutions of annual salaries across the board for senior executives and not exceeding 20%); (iii) any action or inaction that constitutes a material breach of this Agreement by the Company, or (iv) Employee being required to relocate the Employee's primary work location to a facility or location that would increase the Employee's one way commute distance by more than thirty (30) miles from the Employee's primary work location as of immediately prior to such change; provided, that a relocation of less than thirty (30) miles from Employee's then present location will not be considered a material change in geographic location.

For purposes herein, a "Change in Control" means and includes each of the following, unless provided otherwise in Employee's applicable award agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. A
 transaction or series of transactions (other than an offering of common stock to the general
 public through a registration statement filed with the Securities and Exchange Commission)
 whereby any "person" or related "group" of "persons"
 (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of
 1934, as amended from time to time (the "Exchange Act")) directly or indirectly
 acquires beneficial ownership (within the meaning of Rules 13d-3 and 13d-5 under the Exchange
 Act) of securities of the Company possessing more than fifty percent (50%) of the total combined
 voting power of the Company's securities outstanding immediately after such acquisition;
 provided, however, that the following acquisitions shall not constitute a Change in Control:
 (i) any acquisition by the Company or any of its subsidiaries; (ii) any acquisition by an
 employee benefit plan maintained by the Company or any of its subsidiaries; or (iii) in respect
 of an award held by Employee, any acquisition by the Employee or any group of persons including
 the Employee (or any entity controlled by the Employee or any group of persons including
 the Employee); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The
 incumbent directors cease for any reason to constitute a majority of the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The
 consummation by the Company (whether directly involving the Company or indirectly involving
 the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization,
 or business combination, (y) a sale or other disposition of all or substantially all of the
 Company's assets in any single transaction or series of related transactions, or (z)
 the acquisition of assets or stock of another entity, in each case other than a transaction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. which
 results in the Company's voting securities outstanding immediately before the transaction
 continuing to represent (either by remaining outstanding or by being converted into voting
 securities of the Company or the person that, as a result of the transaction, controls, directly
 or indirectly, the Company or owns, directly or indirectly, all or substantially all of the
 Company's assets or otherwise succeeds to the business of the Company (the Company
 or such person, the "Successor Entity")) directly or indirectly, at least a majority
 of the combined voting power of the Successor Entity's outstanding voting securities
 immediately after the transaction, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. after
 which no person or group beneficially owns voting securities representing fifty percent (50%)
 or more of the combined voting power of the Successor Entity; provided, however, that no
 person or group shall be treated for purposes of this Section as beneficially owning fifty
 percent (50%) or more of the combined voting power of the Successor Entity solely as a result
 of the voting power held in the Company prior to the consummation of the transaction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. after
 which at least a majority of the members of the board of directors (or the analogous governing
 body) of the Successor Entity were Board members at the time of the Board's approval
 of the execution of the initial agreement providing for such transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. The
 date which is ten (10) business days prior to the completion of a liquidation or dissolution
 of the Company.

4. **<u>RESTRICTIVE COVENANTS</u>**. The Parties agree that the Company, its subsidiaries and their respective affiliates are engaged in a highly competitive industry and would suffer irreparable harm and incur substantial damage if Employee were to enter into competition with the Company and its subsidiaries and affiliates. Therefore, in order for the Company to protect its legitimate business interests, Employee covenants and agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Employee
 shall not, at any time during his employment with the Company and for a period of twelve
 (12) months thereafter, anywhere in the world or any jurisdiction in which the Company and
 its subsidiaries and affiliates conduct material business operations (the "Restricted
 Territory), either directly or indirectly: (i) accept employment with or render services
 to (whether as an agent, servant, owner, partner, consultant, employee, independent contractor,
 representative, director, officer, or stockholder) any person or entity that is a business
 competitor of the Company and its subsidiaries and affiliates or entity that competes with
 the Company and its subsidiaries and affiliates in the field of digital asset treasury ("DAT")

 or has at any time during Employee's employment with the Company engaged or attempted
 to engage in business competition with the Company and its subsidiaries and affiliates, in
 a position, capacity, or function that is similar, in title or substance, whether in whole
 or in part, to any position, capacity, or function that Employee held with or in which Employee
 served the Company; or (ii) invest in any person or entity that is a business competitor
 of the Company and its subsidiaries and affiliates, or has at any time during Employee's
 employment with the Company engaged or attempted to engage in business competition with the
 Company and its subsidiaries and affiliates, except that Employee may own up to one percent
 (1%) of any outstanding class of securities of any company registered under Section 12 of
 the Securities Exchange Act of 1934, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Employee
 shall not, at any time during his employment with the Company and for a period of twenty-four
 (24) months thereafter (the "Restricted Period") in the Restricted Territory,
 for any reason, on his own behalf or on behalf of any other person or entity, by or through
 any means including but not limited to social media: (i) solicit, invite, induce, cause,
 or encourage to alter or terminate his, her, or its business relationship with the Company
 and its subsidiaries and affiliates, any client, customer, supplier, vendor, licensee, licensor,
 or other person or entity that, at any time during Employee's employment with the Company,
 had a business relationship with the Company and its subsidiaries and affiliates, or any
 person or entity whose business the Company and its subsidiaries and affiliates was soliciting
 or attempting to solicit at the time of Employee's termination, (a) for whom Employee
 performed services or with whom Employee had contact during his employment with the Company,
 or whose business Employee was soliciting or attempting to solicit at the time of Employee's
 termination, and (b) with whom Employee did not have a business relationship prior to his
 employment with the Company; (ii) solicit, entice, attempt to solicit or entice, or accept
 business from any such client, customer, supplier, vendor, licensee, licensor, person, or
 entity; or (iii) interfere or attempt to interfere with any aspect of the business relationship
 between the Company and its subsidiaries and affiliates and any such client, customer, supplier,
 vendor, licensee, licensor, person, or entity; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Employee
 shall not, at any time during the Restricted Period in the Restricted Territory, either directly
 or indirectly, on his own behalf or on behalf of any other person or entity, by or through
 any means including but not limited to social media: (i) solicit, invite, induce, cause,
 or encourage any director, officer, employee, agent, representative, consultant, or contractor
 of the Company and its subsidiaries and affiliates to alter or terminate his, her, or its
 employment, relationship, or affiliation with the Company and its subsidiaries and affiliates;
 (ii) interfere or attempt to interfere with any aspect of the relationship between the Company
 and its subsidiaries and affiliates and any such director, officer, employee, agent, representative,
 consultant, or contractor; or (iii) engage, hire, or employ, or cause to be engaged, hired,
 or employed, in any capacity whatsoever, any such director, officer, employee, agent, representative,
 consultant, or contractor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Employee
 covenants and agrees that Employee shall not make any statement, written or verbal, in any
 forum or media, or take any other action or engage in any conduct that disparages the Company
 and its subsidiaries and affiliates, their services, products, officers, directors, managers,
 employees, shareholders, members, investments or agents. The Company and its subsidiaries
 and affiliates covenant and agree that the Company and its subsidiaries and affiliates shall
 not make any statement, written or verbal, in any forum or media, or take any other action
 or engage in any conduct that disparages Employee. Nothing in this Section 4(d) shall prohibit
 any Person from (A) testifying truthfully in any legal or administrative proceeding or otherwise
 truthfully responding to any other request for information or testimony to which such Person
 is legally required to respond; (B) making any truthful statement to the extent necessary
 to rebut any untrue public statements made by another Person; (C) making any statement or
 engaging in any conduct that would constitute a permitted disclosure; (D) making any truthful
 statement as part of or in any arbitration or court proceeding that involves such Person;
 or (E) making any truthful statement or expression of opinion in connection with requests
 from third parties for employment references or in connection with discussions involving
 matters of workplace concern, such as performance review, bonus determination, or investigation.

Employee represents, warrants, agrees, and understands that: (i) the covenants and agreements set forth in this Section 4 of the Agreement are reasonable in their geographic scope, temporal duration, and the type and scope of activities they restrict; (ii) the Company's agreement to employ Employee, and a portion of the compensation to be paid to Employee hereunder, are in consideration for such covenants and Employee's continued compliance therewith, and constitute adequate and sufficient consideration for such covenants; (iii) Employee shall not raise any issue of, nor contest or dispute, the reasonableness of the geographic scope, temporal duration, or content of such covenants and agreements in any proceeding to enforce such covenants and agreements; (iv) the enforcement of any remedy under this Agreement will not prevent Employee from earning a livelihood, because Employee's past work history and abilities are such that Employee can reasonably expect to find work in other areas and lines of business; (v) the covenants and agreements set forth in this Section 4 of the Agreement are essential for the Company's and its subsidiaries and affiliates reasonable protection, are designed to protect the Company's and its subsidiaries and affiliates legitimate business interests, and are necessary and implemented for legitimate business reasons; and (vi) in entering into this Agreement, the Company has relied upon Employee's representation that he will comply in full with the covenants and agreements set forth in this Section 4 of the Agreement.

If Employee breaches Section 4(a), 4(b), or 4(c) above, then the period during which that section remains in effect shall be extended by the length of time during which such breach continues.

5. **<u>CONFIDENTIALITY</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.  **<u>Confidential Information</u>** . Employee acknowledges that during his employment with the Company, and
 by the nature of Employee's duties and obligations hereunder, Employee will come into
 close contact with confidential information of the Company and its subsidiaries, affiliates,
 and/or other related entities, as applicable, including but not limited to: trade secrets,
 know-how, Intellectual Property (as that term is defined below), business plans, client/customer
 lists, pricing, sales and marketing information, products, research, algorithms, market intelligence,
 services, technologies, concepts, methods, sources, methods of doing business, patterns,
 processes, compounds, formulae, programs, devices, tools, compilations of information, development,
 manufacturing, purchasing, engineering, computer programs (whether in source code or object
 code), theories, techniques, procedures, strategies, systems, designs, works of art, the
 identity of and any information concerning affiliates or customers, or potential customers,
 information received from others that the Company and its subsidiaries and affiliates are
 obligated to treat as confidential or proprietary, and any other technical, operating, non-public
 financial, and other business information that has commercial value to
 the Company, its business, potential business, or operations, or the business of any of the
 Company's and its affiliates, subsidiaries, related entities, clients, customers, suppliers,
 vendors, licensees, or licensors, that Employee may develop or of which Employee may acquire
 knowledge during his employment with the Company, or from his colleagues while working for
 the Company, whether prior to, during, or subsequent to his execution of this Agreement,
 and all other business affairs, methods, and information not readily available to the public
 (collectively, "Confidential Information"). Confidential Information does not
 include: (i) Employee's general skills and experience; (ii) information that was lawfully
 in Employee's possession prior to his employment with the Company (other than through
 breach by a third party of any confidentiality obligation to the and its subsidiaries and
 affiliates); (iii) information that is or becomes publicly available without any direct or
 indirect act or omission on Employee's part; (iv) information that is required to be
 disclosed pursuant to any applicable law, regulation, judicial or administrative order or
 decree, or request by other regulatory organization having authority pursuant to the law;
 provided, however, that, except as set forth in and subject to Section 5(b) of this Agreement,
 Employee shall first have given reasonable notice to the Company prior to making such disclosure;
 or (v) information that is generally known within the industries or trades in which the Company
 and its subsidiaries and affiliates transact business.

The term "Intellectual Property" means all discoveries, procedures, designs, creations, developments, improvements, methods, techniques, practices, methodologies, data models, databases, scripts, know-how, processes, algorithms, application program interfaces, software programs, software source documents and training manuals, codes, formulae, works of authorship, mask-works, reports, memoranda, ideas, inventions, customer lists, business and/or financial information, and contributions of any kind, whether or not they are patentable, registrable, or protectable under federal or state patent, copyright, or trade secret laws, or similar statutes, or protectable under common-law principles, and regardless of their form or state of development, that are made, conceived, generated, or reduced to practice by Employee, in whole or in part, either alone or jointly with others, or while Employee was serving as an officer, director, employee, or consultant of, or in any other capacity with, the Company. Notwithstanding anything else in this Agreement, and as it used in this Section 5, the term "Intellectual Property" excludes any software program, application program interface, equipment, supplies, resources, facilities, data, products, information, materials, or trade secrets used by the Company and its subsidiaries and affiliates, and which was developed entirely on Employee's own time, unless said Intellectual Property: (i) relates to the Company's and its subsidiaries and affiliates business or potential business; or (ii) results from tasks assigned to Employee by the Company or from work performed by Employee for the Company.

Employee acknowledges and agrees that each and every part of the Company's and its subsidiaries and affiliates Confidential Information: (a) has been developed by the Company and its subsidiaries and affiliates at significant effort and expense; (b) is sufficiently secret to derive economic value from not being generally known to other parties; (c) is proprietary to and a trade secret of the Company and its subsidiaries and affiliates and, as such, is a valuable, special, and unique asset of the Company and its subsidiaries and affiliates; and (d) constitutes a protectable business interest of the Company and its subsidiaries and affiliates. Employee further acknowledges and agrees that any unauthorized use or disclosure of any Confidential Information by Employee will cause irreparable harm and loss to the Company and its subsidiaries and affiliates. Employee acknowledges and agrees that the Company and its subsidiaries and affiliates own the Confidential Information. Employee agrees not to dispute, contest, or deny any such ownership rights either during or after Employee's employment with the Company.

In recognition of the foregoing, and except as set forth in and subject to Section 5(b) of this Agreement, Employee covenants and agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Employee
 will use Confidential Information only in the performance of his duties and obligations hereunder
 for the Company. Employee will not use Confidential Information, directly or indirectly,
 at any time during or after his employment with the Company, for his personal benefit, for
 the benefit of any other person or entity, or in any manner adverse to the interests of the
 Company and its subsidiaries and affiliates. Further, Employee will keep secret all Confidential
 Information and will not make use of, divulge, or otherwise disclose Confidential Information,
 directly or indirectly, to anyone outside of the Company, except with the Company's
 prior written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Employee
 will take all necessary and reasonable steps to protect Confidential Information from being
 disclosed to anyone within the Company who does not have a need to know the information and
 to anyone outside of the Company, except with the Company's prior written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Employee
 shall not at any time remove, copy, download, or transmit any information from the Company
 and its subsidiaries and affiliates during the term of this Agreement, except for the benefit
 of the Company and in accordance with this Agreement and the Company's policies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Promptly
 upon Employee's termination, and in any event no later than three (3) business days
 after Employee's employment with the Company ceases, Employee shall return to the Company
 and its subsidiaries and affiliates any and all Confidential Information in his possession,
 custody, or control, including but not limited to all memoranda, notes, records, plans, reports,
 forecast, marketing information, financial records and information, employee or contractor
 records and files, client lists, training materials, trade secrets, and all other documents
 (and all copies thereof), whether in electronic or hard copy form, which Employee obtained
 while employed by the Company or otherwise serving or acting on behalf of the Company, or
 which Employee may then possess or have under Employee's control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.  **<u>Duration of Covenant</u>** . Employee acknowledges and agrees that his obligations under this Section
 5 of the Agreement shall remain in effect forever.

Notwithstanding the foregoing, nothing in this Agreement shall be construed as, or shall interfere with, abridge, limit, restrain, or restrict Employee's (or his attorney's) right, without prior authorization from or notification to the Company: (i) to engage in any activity or conduct or any provision of the National Labor Relations Act (and, in fact, this Section 5 of the Agreement shall not apply to, among other things, any discussion of company wages, hours, and working conditions as protected by the National Labor Relations Act and/or any other applicable federal, state, or local law); (ii) to communicate with any federal, state, or local government agency charged with the enforcement and/or investigation of claims of discrimination, harassment, retaliation, improper wage payments, or any other unlawful employment practices under federal, state, or local law, or to file a charge, claim, or complaint with, or participate in or cooperate with any investigation or proceeding conducted by, any such agency; (iii) to report possible violations of federal, state, or local law or regulation to any government agency or entity, including but not limited, to the extent applicable, to the U.S. Department of Labor, the Department of Justice, the Securities and Exchange Commission (the "SEC"), the Congress, and/or any agency Inspector General, or make other disclosures that are protected under the whistleblower provisions of federal, state, or local law or regulation; or (iv) to communicate directly with, respond to any inquiry from, or provide testimony before, to the extent applicable, the SEC, the Financial Industry Regulatory Authority, any other self-regulatory organization, or any other federal, state, or local regulatory authority, regarding this Agreement or its underlying facts or circumstances.

In addition, Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, in the event that Employee files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Employee may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if Employee: (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.

To the extent that this Agreement conflicts with the federal Speak Out Act (Public Law No: 117-224), said act shall control and supersede the conflicting portion of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.  **<u>Retention of All Other Rights</u>** . Employee's obligations under this Section 5 of the Agreement
 are in addition to, and not in place or lieu of, any other statutory or common law obligations
 that Employee may have with regard to the maintenance, preservation, protection, use, and/or
 disclosure of Confidential Information, and the Company specifically reserves all rights
 it may have against Employee should Employee violate any such statutory or common law obligations.

6. **<u>INJUNCTIVE RELIEF</u>**. Employee agrees that it would be difficult to measure any damages caused to the Company and its subsidiaries and affiliates which might result from any breach by Employee of the covenants and agreements set forth in Sections 4 and 5 of this Agreement, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, and notwithstanding any other provision of this Agreement, Employee agrees that if Employee breaches, or the Company and its subsidiaries and affiliates reasonably believe that Employee is likely to breach, Sections 4 or 5 of this Agreement, the Company and its subsidiaries and affiliates shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach, without showing or proving any actual damage to the Company and its subsidiaries and affiliates. Any award or relief to the Company and its subsidiaries and affiliates may, in the discretion of the court, include the Company's and its subsidiaries and affiliates costs and expenses of enforcement (including reasonable attorneys' fees, court costs, and expenses). Nothing contained in this Section 6 of the Agreement or in any other provision of the Agreement shall restrict or limit in any manner the Company's and its subsidiaries and affiliates right to seek and obtain any form of relief, legal or equitable, and shall not waive the Company's and its subsidiaries and affiliates right to any other relief related to any dispute arising out of this Agreement or related to Employee's employment with the Company.

7. **<u>NOTICES</u>**. Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be deemed to have been given (i) when delivered personally or by hand (with written confirmation of receipt); (ii) if sent by a nationally-recognized overnight courier, on the date received by the addressee (with written confirmation of receipt); or (iii) on the date sent by electronic mail or facsimile (with confirmation of transmission), to the recipient(s) specified below (or to such other recipient and/or address as either Party may, from time to time, designate in writing in accordance with the terms and conditions of this Agreement).

8. **<u>LEGAL REPRESENTATION</u>**. Employee acknowledges that he was advised to consult with, and has had ample opportunity to receive the advice of, independent legal counsel before executing this Agreement – and the Company hereby advises Employee to do so – and that Employee has fully exercised that opportunity to the extent he desired. Employee acknowledges that he had ample opportunity to consider this Agreement and to receive an explanation from such legal counsel of the legal nature, effect, ramifications, and consequences of this Agreement. Employee warrants that he has carefully read this Agreement, that he understands completely its contents, that he understands the significance, nature, effect, and consequences of signing it, and that he has agreed to and signed this Agreement knowingly and voluntarily of his own free will, act, and deed, and for full and sufficient consideration.

9. **<u>ENTIRE AGREEMENT; AMENDMENT</u>**. This Agreement constitutes the entire agreement between the Parties relating to the subject matter hereof, and supersedes all prior agreements and understandings, whether oral or written, with respect to the same. In entering into and performing under this Agreement, neither the Company nor Employee has relied upon any promises, representations, or statements except as expressly set forth herein. No modification, alteration, amendment, revision of, or supplement to this Agreement shall be valid or effective unless the same is memorialized in a writing signed by both by Employee and a duly-authorized representative or agent of the Company. Neither e-mail correspondence, text messages, nor any other electronic communications constitutes a writing for purposes of this Section 9 of the Agreement.

10. **<u>GOVERNING LAW</u>**. This Agreement shall in all respects be interpreted, enforced, and governed by and in accordance with the internal substantive laws (and not the laws of choice or conflict of laws) of the State of New York.

11. **<u>ASSIGNMENT</u>**. This Agreement shall not be assignable by Employee, but shall be binding upon Employee and upon his heirs, administrators, representatives, executors, and successors. This Agreement shall be freely assignable by the Company without restriction and, without limitation of the foregoing, shall be deemed automatically assigned by the Company with Employee's consent in the event of any sale, merger, share exchange, consolidation, or other business reorganization. This Agreement shall inure to the benefit of the Company and its successors and assigns.

12. **<u>SEVERABILITY</u>**. If one or more of the provisions of this Agreement is deemed void by law, then the remaining provisions shall continue with full force and effect and, if legally permitted, such offending provision or provisions shall be replaced with an enforceable provision or enforceable provisions that as nearly as possible effects the Parties' intent. Without limiting the generality of the foregoing, the Parties hereby expressly state their intent that, to the extent any provision of this Agreement is deemed unenforceable due to the scope, whether geographic, temporal, or otherwise, being deemed excessive, unreasonable, and/or overbroad, the court, person, or entity rendering such opinion regarding the scope shall modify such provision(s), or shall direct or permit the Parties to modify such provision(s), to the minimum extent necessary to cause such provision(s) to be enforceable.

13. **<u>SURVIVAL</u>**. Upon the termination or expiration of this Agreement, the entire Agreement shall survive such termination or expiration, and shall continue, with full force and effect, in accordance with their respective terms and conditions.

14. **<u>WAIVER</u>**. The failure of either Party to insist, in any one or more instances, upon the performance of any of the terms, covenants, or conditions of this Agreement or to exercise any right hereunder, shall not be construed as a waiver or relinquishment of the future performance of any rights, and the obligations of the Party with respect to such future performance shall continue with full force and effect. No waiver of any such right will have effect unless given in a writing signed by the Party against whom the waiver is to be enforced.

15. **<u>COMPLIANCE WITH SECTION 409A OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. It
 is the intention of the Parties that all payments and benefits under this Agreement (and
 any amendment hereto) shall be made and provided in a manner that is either exempt from or
 compliant with Section 409A of the Internal Revenue Code and the rules, regulations and notices
 thereunder ("Code Section 409A"). Any ambiguity in this Agreement (or any amendment
 hereto) shall be interpreted to comply with the above. Employee acknowledges that the Company
 has made no representations and makes no guarantee as to the treatment of the compensation
 and benefits provided hereunder and Employee has been advised to obtain his own tax advice,
 and further, Employees agrees that the Company and the Company's officers, employees,
 agents, equity holders, successors, affiliates and representatives shall have no liability
 for any of the payments or benefits under this Agreement or any other arrangement failing
 to be exempt from or to comply with Code Section 409A. Each amount or benefit payable pursuant
 to this Agreement (and any amendment hereto) shall be a separate payment for purposes of
 Code Section 409A. For all purposes of this Agreement, any iteration of the word "termination"
 (e.g., "terminated") with respect to Employee's employment shall mean a
 separation from service within the meaning of Code Section 409A. Without limiting the generality
 of the foregoing, for purposes of this Agreement, Employee shall be considered to have a
 termination of employment only if such termination is a "separation from service"
 within the meaning of Code Section 409A. If a Release Consideration Expiration Date could
 occur in a subsequent tax year, none of the payments set forth in Section 3(b) herein shall
 commence earlier than the second taxable year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. To
 the extent that the reimbursement of any benefits or the provision of any in-kind kind benefits
 pursuant to this Agreement is subject to Code Section 409A: (a) the amount of such expenses
 eligible for reimbursement, or in-kind benefits to be provided hereunder during any calendar
 year shall not affect the amount of such expenses eligible for reimbursement or in-kind benefits
 to be provided hereunder in any other calendar year; (b) all such expenses eligible for reimbursement
 hereunder shall be paid to the Employee no later than December 31<sup>st</sup> of the calendar
 year following the calendar year in which such expenses were incurred; and (c) Employee's
 right to receive any such reimbursements or in-kind benefits shall not be subject to liquidation
 or exchange for any other benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Notwithstanding
 anything in this Agreement to the contrary, in the event the stock of the Company (or its
 successor) is publicly traded on an established securities market or otherwise and the Employee
 is a "specified employee" (as determined under the Company's administrative
 procedure for such determinations, in accordance with Code Section 409A) at the time of Employee's
 termination of employment, any payments under this Agreement that are deemed to be deferred
 compensation subject to Code Section 409A and payable in connection with a separation from
 service shall not be paid or begin payment until the earlier of (a) Employee's death
 or (b) the first day following the six (6) month anniversary of the Termination Date. If
 the payment of any amounts under this Agreement are delayed as a result of the previous sentence,
 on the first day following the end of the six (6) month period, the Company shall pay Employee
 a lump sum amount equal to the cumulative amounts that would have otherwise been previously
 paid to Employee under this Agreement during such six (6) month period, without interest
 thereon. To the extent permitted under Code Section 409A, any separate payment or benefits
 under this Agreement or otherwise shall not be "deferred compensation" subject
 to Code Section 409A and the six-month delay provided in this subsection, to the extent provided
 in the exceptions in Treasury Regulation Section 1.409A-1(b)(4) and (b)(9) and any other
 applicable exception or provision under Code Section 409A.

16. **<u>TAXES</u>**. The Parties acknowledge and agree that the Company may withhold from any amounts payable under this Agreement such federal, state, local, and foreign taxes and withholdings as may be required to be withheld pursuant to any applicable law, rule, or regulation.

17. **<u>SECTION HEADINGS</u>**. The section headings used in this Agreement are included solely for convenience, and shall not affect, or be used in connection with, the interpretation of this Agreement. Any reference to any gender in this Agreement shall include, where appropriate, any other gender.

18. **<u>COUNTERPARTS</u>**. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

*(Signature Page Follows)*

 

**IN WITNESS WHEREOF**, the Parties have executed this Agreement as of the day and year first above written.

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| | | | |
|:---|:---|:---|:---|
| **EMPLOYEE** | **EMPLOYEE** | **THARIMMUNE, INC.** | **THARIMMUNE, INC.** |
| By: |  | By: |  |
|  | Mark Toomey |  | Sireesh Appajosyula |

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