Document:

Exhibit 10.8

 

INDEMNITY AGREEMENT

 

This Indemnity Agreement
(the “Agreement”), dated as of April ___, 2018, is entered into by and among Lola One Acquisition Corporation,
a Delaware corporation (the “Parent”), Amesite Inc., a Delaware corporation (“Amesite” and
together with the Parent, the “Companies”), and the undersigned Indemnitee (the “Indemnitee”).

 

W I T N E S S E T H:

 

WHEREAS, Indemnitee
is a director on the board of directors of the Parent (the “Board of Directors”) and/or an officer of the Parent
and in such capacity(ies) is performing valuable services for the Parent; and

 

WHEREAS, the Parent,
Lola One Acquisition Sub, Inc., a wholly-owned subsidiary of the Parent (the “Merger Sub”), and Amesite plan
to enter into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”), pursuant to which
the Merger Sub shall merge with and into Amesite, with Amesite remaining as the surviving entity and a wholly-owned operating subsidiary
of the Parent (the “Merger”); and

 

WHEREAS, Indemnitee
is willing to continue to serve in such capacity(ies) until the Effective Time (as defined in the Merger Agreement) on the condition
that he be indemnified as herein provided; and

 

WHEREAS, it is intended
that Indemnitee shall be paid promptly by the Companies all amounts necessary to effectuate in full the indemnity provided herein.

 

NOW, THEREFORE, in
consideration of the premises and the covenants in this Agreement, and of Indemnitee and the Companies intending to be legally
bound hereby, the parties hereto agree as follows:

 

1. Services
by Indemnitee. Indemnitee agrees to serve as director or officer of the Parent, or both, so long as Indemnitee is duly appointed
or elected and qualified in accordance with the applicable provisions of the Certificate of Incorporation and bylaws of the Parent,
and until such time as Indemnitee resigns or fails to stand for election or is removed from Indemnitee’s positions. Indemnitee
may from time to time also perform other services at the request or for the convenience of, or otherwise benefiting the Parent.

 

     

     

    

 

2. Indemnification.
Subject to the limitations set forth herein and in Section 6 hereof, the Companies hereby agree to indemnify Indemnitee
as follows:

 

The Companies shall,
with respect to any Proceeding (as hereinafter defined) associated with Indemnitee acting in his official capacity as officer and
director of the Parent arising out of or pertaining to actions relating to the approval of and entering into the Merger Agreement,
the Transaction Documentation (as defined in the Merger Agreement), the Merger and each of the Contemplated Transactions (as defined
in the Merger Agreement), whether asserted or claimed prior to, at or after the Effective Time, indemnify Indemnitee to the fullest
extent permitted by Section 145 of the General Corporation Law of Delaware (the “DGCL”) and the Certificate
of Incorporation of the Parent in effect on the date hereof or as such law or Certificate of Incorporation may from time to time
be amended (but, in the case of any such amendment, only to the extent such amendment permits the Parent to provide broader indemnification
rights than the law or Certificate of Incorporation permitted the Parent to provide before such amendment). Notwithstanding the
foregoing, the Companies shall not be required to indemnify Indemnitee for acts or omissions of Indemnitee constituting fraud,
bad faith, gross negligence or intentional misconduct. The right to indemnification conferred herein and in the Certificate of
Incorporation shall be presumed to have been relied upon by Indemnitee in serving the Parent and shall be enforceable as a contract
right. Without in any way diminishing the scope of the indemnification provided by this Section 2, the Companies will
indemnify Indemnitee against Expenses (as hereinafter defined) and Liabilities (as hereinafter defined) actually and reasonably
incurred by Indemnitee or on their behalves in connection with the investigation, defense, settlement or appeal of such Proceeding.
In addition to, and not as a limitation of, the foregoing, the rights of indemnification of Indemnitee provided under this Agreement
shall include those rights set forth in Section 8 below. Notwithstanding the foregoing, the Companies shall be required
to indemnify Indemnitee in connection with a Proceeding commenced by Indemnitee (other than a Proceeding commenced by Indemnitee
to enforce Indemnitee’s rights under this Agreement) only if the commencement of such Proceeding was authorized by the Board
of Directors following the Effective Time. Notwithstanding anything to the contrary contained herein, the Companies shall have
no obligation to indemnify the Indemnitee to the extent such indemnification would not be permitted under Section 145 of the
DGCL or the Parent’s Certificate of Incorporation in effect on the date hereof.

 

3. Presumptions
and Effect of Certain Proceedings. Upon making a request for indemnification, Indemnitee shall be presumed to be entitled to
indemnification under this Agreement and the Companies shall have the burden of proof to overcome that presumption in reaching
any contrary determination. The termination of any Proceeding by judgment, order, settlement, arbitration award or conviction,
or upon a plea of nolo contendere or its equivalent shall not affect this presumption or, except as determined by a judgment or
other final adjudication adverse to Indemnitee, establish a presumption with regard to any factual matter relevant to determining
Indemnitee’s rights to indemnification hereunder. If the person or persons so empowered to make a determination pursuant
to Section 5 hereof shall have failed to make the requested determination within ninety (90) days after any judgment,
order, settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere or its equivalent, or other
disposition or partial disposition of any Proceeding or any other event that could enable the Companies to determine Indemnitee’s
entitlement to indemnification, the requisite determination that Indemnitee is entitled to indemnification shall be deemed to have
been made.

 

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4. Advancement
of Expenses. To the extent not prohibited by law, the Companies shall advance the Expenses or Liabilities incurred by Indemnitee
in connection with any Proceeding, and such advancement shall be made within thirty (30) days after the receipt by the Companies
of a statement or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such
Expenses or Liabilities but, in the case of invoices in connection with legal services, any references to legal work performed
or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with
the invoice) and upon request of the Companies, an undertaking to repay the advancement of Expenses or Liabilities if and to the
extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee
is not entitled to be indemnified by the Companies. Advances shall be unsecured, interest free and without regard to Indemnitee’s
ability to repay the expenses. Advances shall include any and all Expenses and/or Liabilities actually and reasonably incurred
by Indemnitee pursuing an action to enforce Indemnitee’s right to indemnification under this Agreement, or otherwise and
this right of advancement, including Expenses and/or Liabilities incurred preparing and forwarding statements to the Company to
support the advances claimed. Indemnitee acknowledges that the execution and delivery of this Agreement shall constitute an undertaking
providing that Indemnitee shall, to the fullest extent required by law, repay the advance if and to the extent that it is ultimately
determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to
be indemnified by the Company. The right to advances under this Section shall continue until final disposition of any proceeding,
including any appeal therein. This Section 4 shall not apply to any claim made by Indemnitee for which indemnity is
excluded pursuant to Section 15(d)(ii).

 

5. Procedure
for Determination of Entitlement to Indemnification.

 

(a) Whenever
Indemnitee believes that Indemnitee is entitled to indemnification pursuant to this Agreement, Indemnitee shall submit a written
request for indemnification or advancement of expenses to the Companies. Any request for indemnification or advancement of expenses
shall include sufficient documentation or information reasonably available to Indemnitee for the determination of entitlement to
indemnification or advancement of expenses. In any event, Indemnitee shall submit Indemnitee’s claim for indemnification
or advancement of expenses within a reasonable time, not to exceed sixty (60) days after any judgment, order, settlement,
dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere or its equivalent, or final termination, whichever
is the later date for which Indemnitee requests indemnification.

 

(b) Independent
Legal Counsel (as hereinafter defined) shall determine whether Indemnitee is entitled to indemnification or advancement of expenses.
Determination of Indemnitee’s entitlement to indemnification or advancement of expenses shall be made not later than ninety
(90) days after the Companies’ receipt of Indemnitee’s written request for such indemnification or advancement
of expenses, provided that any request for indemnification or advancement of expenses for Liabilities, other than amounts paid
in settlement, shall have been made after a determination thereof in a Proceeding.

 

6. Specific
Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the Companies shall not be obligated
under this Agreement to make any indemnity or payment to Indemnitee in connection with any claim against Indemnitee:

 

(a) to
the extent that payment is actually made to Indemnitee under any insurance policy, contract, agreement or otherwise or is made
to Indemnitee by either of the Companies or affiliates otherwise than pursuant to this Agreement. Notwithstanding the availability
of such insurance, Indemnitee also may claim indemnification from the Companies pursuant to this Agreement by assigning to the
Companies any claims under such insurance to the extent Indemnitee is paid by the Companies;

 

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(b) for
Liabilities in connection with Proceedings settled without the Companies’ consent, which consent, however, shall not be unreasonably
withheld;

 

(c) in
no event shall the Companies be liable to pay the fees and disbursements of more than one counsel in any single Proceeding except
to the extent that, in the opinion of counsel of the Indemnitee, the Indemnitee has conflicting interests in the outcome of such
Proceeding;

 

(d) to
the extent it would be otherwise prohibited by law, if so established by a judgment or other final adjudication adverse to Indemnitee;

 

(e) for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Companies within
the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory
law or common law; or

 

(f) 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 Companies or their directors, officers, employees or other indemnitees, unless
(i) the commencement of such Proceeding was authorized by the Board of Directors (or any part of any Proceeding) prior to
its initiation and following the Effective Time, or (ii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law.

 

7. Fees
and Expenses of Independent Legal Counsel. The Companies agree to pay the reasonable fees and expenses of Independent Legal
Counsel and to fully indemnify such Independent Legal Counsel against any and all expenses and losses incurred by any of them arising
out of or relating to this Agreement or their engagement pursuant hereto.

 

8. Remedies
of Indemnitee.

 

(a) In
the event that (i) a determination pursuant to Section 5 hereof is made that Indemnitee is not entitled to indemnification,
(ii) payment has not been timely made following a determination of entitlement to indemnification pursuant to this Agreement,
or (iii) Indemnitee otherwise seeks enforcement of this Agreement, Indemnitee shall be entitled to a final adjudication in
a court of competent jurisdiction in the State of Delaware of the remedy sought.

 

(b) If
a determination that Indemnitee is entitled to indemnification has been made pursuant to Section 5 hereof, or is deemed
to have been made pursuant to Section 5 hereof or otherwise pursuant to the terms of this Agreement, the Companies
shall be bound by such determination in the absence of a misrepresentation or omission of a material fact by Indemnitee in connection
with such determination.

 

(c) The
Companies shall be precluded from asserting that the procedures and presumptions of this Agreement are not valid, binding and enforceable.
The Companies shall stipulate in any such court or before any such arbitrator that the Companies are bound by all the provisions
of this Agreement and are precluded from making any assertion to the contrary.

 

(d) Expenses
reasonably incurred by Indemnitee in connection with Indemnitee’s request for indemnification under, seeking enforcement
of or to recover damages for breach of this Agreement shall be borne by the Companies when and as incurred by Indemnitee, to the
extent it is determined that Indemnitee is entitled to indemnification hereunder.

 

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9. Contribution.
To the fullest extent permissible under applicable law, in the event the Companies are obligated to indemnify Indemnitee under
this Agreement and the indemnification provided for herein is unavailable to Indemnitee for any reason whatsoever, the Companies,
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 (i) the relative benefits received by the Companies and Indemnitee as a result of the event(s) and/or
transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Companies (and their respective directors,
officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

10. Modification,
Waiver, Termination and Cancellation. No supplement, modification, termination, cancellation or amendment of this Agreement
shall be binding unless executed in writing by all of the parties hereto. No waiver of any of the provisions of this Agreement
shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute
a continuing waiver.

 

11. Subrogation.
In the event of any payment under this Agreement, the Companies 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 shall do everything that may be necessary to secure
such rights, including the execution of such documents necessary to enable the Companies effectively to bring suit to enforce such
rights.

 

12. Notice
by Indemnitee and Defense of Claim. Indemnitee shall promptly notify the Companies in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any matter, whether civil, criminal, administrative
or investigative, but the omission so to notify the Companies will not relieve it from any liability that it may have to Indemnitee
if such omission does not prejudice the Companies’ rights. If such omission does prejudice the Companies’ rights, the
Companies will be relieved from liability only to the extent of such prejudice; nor will such omission relieve the Companies from
any liability that they may have to Indemnitee otherwise than under this Agreement.

 

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13. Notices.
All notices and other communications hereunder shall be in writing and shall be deemed to have been duly delivered and received
hereunder (a) one business day after being sent for next business day delivery, fees prepaid, via a reputable international
overnight courier service, (b) upon delivery in the case of delivery by hand, or (c) on the date delivered in the place
of delivery if sent by email or facsimile (with a written or electronic confirmation of delivery from the recipient, excluding,
in the case of email, any automated response) prior to 6:00 p.m. Pacific time, otherwise on the next succeeding business day,
in each case to the intended recipient as set forth below:

  

	 	(a)	If to the Parent	Lola One Acquisition Corporation
	 	 	(prior to closing):	
        2255 Glades Road, Suite 324A

        Boca Raton, Florida

        Attn: Ian Jacobs, CEO

	 	 	 	
        Facsimile: N/A

        Email: ian@montrosecapital.com

 

	 	(b)	If to Amesite:	Amesite Inc.
	 	 	 	205 East Washington Street
	 	 	 	Suite B
	 	 	 	Ann Arbor, Michigan 48104
	 	 	 	Attn:  Ann Marie Sastry, CEO
	 	 	 	Facsimile:  N/A
	 	 	 	Email:  ams@amesite.com

 

	 	(c)	If to Indemnitee:	The address set forth on the signature page hereto.

 

or any party may change the address to
which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other parties notice
in the manner herein set forth.

 

14. Exclusivity.
Without limiting any right of the Indemnitee to recover from, or make a claim under, any directors’ and officers’ liability
insurance policies maintained by the Companies, the rights of Indemnitee hereunder shall be the exclusive rights to which Indemnitee
is entitled under applicable law, the Companies’ Certificates of Incorporation or bylaws, or any agreements, vote of stockholders,
resolution of the Boards of Directors or otherwise, with respect to any Proceeding (as hereinafter defined) associated with Indemnitee
acting in his official capacity as officer and director of the Parent arising out of or pertaining to actions relating to the approval
of and entering into the Merger Agreement, the Transaction Documentation (as defined in the Merger Agreement), the Merger and each
of the Contemplated Transactions (as defined in the Merger Agreement), whether asserted or claimed prior to, at or after the Effective
Time.

 

15. Certain
Definitions.

 

(a) “Expenses”
shall include all direct and indirect costs (including, without limitation, attorneys’ fees, retainers, court costs, transcripts,
fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery
service fees, all other disbursements or out-of-pocket expenses) actually and reasonably incurred in connection with either the
investigation, defense, settlement or appeal of a Proceeding or establishing or enforcing a right to indemnification under this
Agreement, applicable law or otherwise; provided, however, that “Expenses” shall not include any Liabilities.

 

(b) “Independent
Legal Counsel” means a law firm or a member of a firm selected by the Companies and approved by Indemnitee (which approval
shall not be unreasonably withheld). Notwithstanding the foregoing, the term “Independent Legal 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 Companies or Indemnitee in an action to determine Indemnitee’s right to indemnification under
this Agreement.

 

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(c) “Liabilities”
means liabilities of any type whatsoever including, but not limited to, any judgments, fines, ERISA excise taxes and penalties,
penalties and amounts paid in settlement (including all interest assessments and other charges paid or payable in connection with
or in respect of such judgments, fines, penalties or amounts paid in settlement) of any Proceeding.

 

(d) “Proceeding”
means any threatened, pending or completed action, claim, suit, arbitration, alternative dispute resolution mechanism, investigation,
administrative hearing or any other proceeding, whether civil, criminal, administrative or investigative, that (i) is associated
with Indemnitee’s actions as an officer and/or director of the Parent arising out of or pertaining to actions relating to
the approval of and entering into the Merger Agreement, the Transaction Documentation, the Merger and each of the Contemplated
Transactions (as defined in the Merger Agreement), whether asserted or claimed prior to, at or after the Effective Time, absent
fraud, bad faith, gross negligence or intentional misconduct, including any action brought by or in the right of the Parent or
Amesite, and (ii) is not initiated or brought by one or more of the Indemnitee.

 

16. Binding
Effect; Duration and Scope of Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable
by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger,
consolidation or otherwise to all or substantially all of the business or assets of the Companies), spouses, heirs and personal
and legal representatives. This Agreement shall continue in effect for five (5) years subsequent to the date of this Agreement,
regardless of whether Indemnitee continues to serve as director or an officer of the Parent.

 

17. Severability.
If any provision or provisions of this Agreement (or any portion thereof) 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 shall not in any way be affected or impaired
thereby; and

 

(b) to
the fullest extent legally possible, the provisions of this Agreement shall be construed so as to give effect to the intent of
any provision held invalid, illegal or unenforceable.

 

18. Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, as
applied to contracts between Delaware residents entered into and to be performed entirely within the State of Delaware, without
regard to conflict of laws rules.

 

19. Consent
to Jurisdiction. The Companies and Indemnitee each irrevocably consent to the jurisdiction of the courts of the State of Delaware
for all purposes in connection with any action or Proceeding that arises out of or relates to this Agreement and agree that any
action instituted under this Agreement shall be brought only in the state courts of the State of Delaware.

 

20. Entire
Agreement. This Agreement represents the entire agreement between the parties hereto, and there are no other agreements, contracts
or understandings between the parties hereto with respect to the subject matter of this Agreement.

 

21. Counterparts.
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. This Agreement and any documents relating to it may be executed
and transmitted to any other party by facsimile or email of a PDF, which facsimile or PDF shall be deemed to be, and utilized in
all respects as, an original, wet-inked document.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed as of the date first written above.

 

	 	Lola
    One Acquisition Corporation
	 	 
	 	By:	 
	 	Name: 	           
	 	Its:	 

 

	 	Amesite
    Inc.
	 	 	 
	 	By:	 
	 	Name: 	    
	 	Its:	 

 

	 	Indemnitee
	 	 	 
	 	By:	 
	 	Name:  	     
	 	Address: 	 
	 	 	 

 

 

[Signature Page to Indemnity Agreement]Exhibit 10.12

 

 

EXECUTIVE
EMPLOYMENT AGREEMENT

This Executive Employment Agreement (the
“Agreement”), dated April 27, 2018, is between Amesite Inc. (the “Company”)
and Ann Marie Sastry PhD. (“Executive”).

		1.	Position and Responsibilities

a.   
Position. Executive is employed by the Company to render services to the Company in the position of Chair, President
and CEO. Executive shall perform such duties and responsibilities as are normally related to such position in accordance with the
standards of the industry and any additional duties now or hereafter assigned to Executive by the Company. Executive shall abide
by the rules, regulations, and practices as adopted or modified from time to time in the Company’s sole discretion.

b.   
Other Activities. Except upon the prior written consent or approval of the Board of Directors of the Company (the
“Board”), Executive will not, during the term of this Agreement, (i) accept any other employment, or (ii) engage,
directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that might interfere with
Executive’s duties and responsibilities hereunder or create a conflict of interest with the Company. Notwithstanding the
foregoing, Executive may serve on up to two boards of directors (or advisory boards), without the consent of the Board; provided
that such services (x) are not competitve to the Company, (y) are not provided to an entity competitive to the Company and (z)
do not create a conflict of interest. Executive shall disclose the names of the boards to the Company.

c.   
No Conflict.  Executive represents and warrants that Executive’s execution of this Agreement, Executive’s
employment with the Company, and the performance of Executive’s proposed duties under this Agreement shall not violate any
obligations Executive may have to any other employer, person or entity, including any obligations with respect to proprietary or
confidential information of any other person or entity.

		2.	Compensation and Benefits

a.   
Base Salary. In consideration of the services to be rendered under this Agreement, the Company shall pay Executive
a salary at the rate of Three Hundred Fifty Thousand Dollars ($350,000) per year (“Base Salary”). The Base Salary shall
be paid in accordance with the Company’s regularly established payroll practice. Executive’s Base Salary will be reviewed
from time to time in accordance with the established procedures of the Company for adjusting salaries for similarly situated employees
and may be adjusted in the sole discretion of the Company.

b.   
Bonus. Executive shall be eligible for a bonus of up to $200,000 for the year ending June 30, 2019 based upon achievement
of the following objectives:

     

     

    

 

(1)       Execute
contracts for two (2) customers with the Company;

(2)       Design
Amesite platform;

(3)       Design
courses for the platform;

(4)       Launch
Amesite platform; and

(5)       Launch
(2) courses.

The determination of achievement of each
of these objectives shall be made by the Board of Directors and the bonus for each objective shall be paid no later than 2 weeks
from the board meeting that recognizes the completion of each objective on a case by case basis, but in no event later than April
15, 2019. For following fiscal years, Executive shall be entitled to bonus compensation in an amount up to 100% of her Base Salary
if Executive meets or exceeds bonus milestones established by the Board in consultation with Executive. For following fiscal years,
Executive shall be entitled to a cash bonus of up to 100% for mutually agreed upon milestones established with the Board; and mutually
agreed upon commission (i.e., 5%) for any and all revenue generated by efforts of the CEO for Company subject to mutually agreed
upon financials of Company.

c.   
Benefits. Executive shall be eligible to participate in the benefits made generally available by the Company to similarly-situated
employees, in accordance with the benefit plans established by the Company, and as may be amended from time to time in the Company’s
sole discretion, provided, that life insurance shall be included.

d.   
Stock Options. Executive will be eligible to participate in the Amesite Equity Incentive Plan (the “Plan”),
subject to the discretion and approval of the Board. Any options or other equity incentives shall vest in accordance with the Plan
and any related award agreements (collectively with the Plan, the “Award Documents”); provided, however, that any issued
awards shall fully vest upon a change in control (as defined under the Award Documents).

e.   
Paid Time Off. Executive shall be entitled to receive paid time off in accordance with the policies of the Company
in effect from time to time.

f.    
Equipment. The Company shall provide to Executive, or reimburse the Executive for the cost of, a cellular smartphone,
laptop computer and any other equipment reasonably necessary for Executive to perform the duties and responsibilities under this
Agreement.

g.   
Expenses.  The Company shall reimburse Executive for reasonable business expenses incurred in the performance of
Executive’s duties hereunder in accordance with the Company’s expense reimbursement policies in existence from time
to time.

     

     

    

 

		3.	At-Will Employment; Termination By Company

a.   
At-Will Termination by Company. Executive’s employment with the Company shall be “at-will” at all
times. The Company may terminate Executive’s employment with the Company at any time, upon thirty (30) days prior written
notice, for any reason or no reason at all, notwithstanding anything to the contrary contained in or arising from any statements,
policies or practices of the Company relating to the employment, discipline or termination of its employees. Upon and after such
termination, all obligations of the Company under this Agreement shall cease, except as otherwise provided herein.

b.   
Severance. Except in situations where the employment of Executive is terminated For Cause or by death, in the event
that the Company terminates Executive’s employment at any time, Executive will receive (i) an amount equal to twelve (12)
months of the Executive’s then-current Base Salary, payable in the form of salary continuation (“Severance” and
such period, the “Severance Period”) and (ii) if Executive timely elects COBRA continuation coverage, the Company will
pay the cost of continuation coverage for Executive and her eligible family members under the Company’s group health plan
until the earlier of (A) the end of the Severance Period, and (B) the date Executive become covered under another employer’s
group health plan. Executive’s eligibility for Severance is conditioned on Executive having first signed a release agreement
in the form attached as Exhibit A. Executive shall not be entitled to any Severance if Executive’s employment is terminated
For Cause or by death or if Executive’s employment is terminated by Executive without Good Reason (as defined in Section 5.b.
below).

		4.	Other Terminations By Company

a.   
Termination for Cause. For purposes of this Agreement, “For Cause” shall mean: (i) Executive is convicted
of or pleads no contest to a felony crime involving fraud, theft or embezzlement agaist the Company; (ii) Executive willfully engages
in conduct that is in bad faith and materially injurious to the Company, including but not limited to, misappropriation of trade
secrets, fraud or embezzlement; (iii) Executive commits a material breach of this Agreement, which breach is not cured within twenty
days after written notice to Executive from the Company; (iv) Executive willfully refuses to implement or follow a lawful policy
or directive of the Company, which breach is not cured within twenty days after written notice to Executive from the Company; or
(v) Executive engages in misfeasance or malfeasance demonstrated by a documented pattern of failure to perform job duties diligently
and professionally, provided that Executive receives written notice of such failures and first receives a corrective plan of action
pescribing an opportunity to cure such performance issues. The Company may terminate Executive’s employment For Cause at
any time, without any advance notice. The Company shall pay Executive all compensation to which Executive is entitled up through
the date of termination, subject to any other rights or remedies of the Company under law; and thereafter all obligations of the
Company under this Agreement shall cease.

     

     

    

 

b.   
By Death. Executive’s employment shall terminate automatically upon Executive’s death. The Company shall
pay to Executive’s beneficiaries or estate, as appropriate, any compensation then due and owing. Thereafter all obligations
of the Company under this Agreement shall cease. Nothing in this Section shall affect any entitlement of Executive’s heirs
or devisees to the benefits of any life insurance plan or other applicable benefits.

c.   
By Disability. If Executive becomes eligible for the Company’s long term disability benefits or if Executive
is unable to carry out the responsibilities and functions of the position held by Executive by reason of any physical or mental
impairment for more than ninety consecutive days or more than one hundred and twenty days in any twelve-month period, then, to
the extent permitted by law, the Company may terminate Executive’s employment. The Company shall pay to Executive all compensation
to which Executive is entitled up through the date of termination, and thereafter all obligations of the Company under this Agreement
shall cease, subject to the Severance obligations set forth in Section 3.b. above. Nothing in this Section shall affect Executive’s
rights under any disability plan in which Executive is a participant.

		5.	Termination By Executive

a.   
At-Will Termination by Executive. Executive may terminate employment with the Company at any time for any reason
or no reason at all, upon two weeks’ advance written notice. During such notice period Executive shall continue to diligently
perform all of Executive’s duties hereunder. The Company shall have the option, in its sole discretion, to make Executive’s
termination effective at any time prior to the end of such notice period as long as the Company pays Executive all compensation
to which Executive is entitled up through the last day of the two week notice period. Thereafter all obligations of the Company
shall cease.

b.   
Termination for Good Reason After Change of Control. Executive’s termination shall be for “Good Reason”
if Executive provides written notice to the Company of the Good Reason within thirty days of the event constituting Good Reason
and provides the Company with a period of twenty days to cure the event constituting Good Reason and the Company fails to cure
the Good Reason within that period. For purposes of this Agreement, “Good Reason” shall mean any of the following events
if the event is effected by the Company without the consent of Executive: (A) a change in Executive’s position with
the Company which materially reduces Executive's level of responsibility; (B) a material reduction in Executive’s Base Salary,
except for reductions that are comparable to reductions generally applicable to similarly situated executives of the Company; or
(C) a relocation of Executive’s principal place of employment by more than fifty miles. In any such event, Executive may
terminate her employment for Good Reason, in which case Executive will receive (i) an amount equal to twelve (12) months of the
Executive’s then-current Base Salary, payable in the form of salary continuation (“Good Reason Severance” and
such period, the “Good Reason Severance Period”) and (ii) if Executive timely elects COBRA continuation coverage, the
Company will pay the cost of continuation coverage for Executive and her eligible family members under the Company’s group
health plan until the earlier of (A) the end of the Good Reason Severance Period, and (B) the date Executive become covered under
another employer’s group health plan. Executive’s eligibility for Good Reason Severance is conditioned on Executive
having first signed a release agreement in the form attached as Exhibit A. Thereafter all obligations of the Company or its successor
under this Agreement shall cease.

 

     

     

    

 

		6.	Termination Obligations

a.   
Return of Property. Executive agrees that all property (including without limitation all equipment, tangible proprietary
information, documents, records, notes, contracts and computer-generated materials) furnished to or created or prepared by Executive
incident to Executive’s employment belongs to the Company and shall be promptly returned to the Company upon termination
of Executive’s employment.

b.   
Resignation and Cooperation. Upon termination of Executive’s employment, Executive shall be deemed to have
resigned from all offices and directorships then held with the Company. Following any termination of employment, Executive shall
cooperate with the Company in the winding up of pending work on behalf of the Company and the orderly transfer of work to other
employees. Executive shall also cooperate with the Company in the defense of any action brought by any third party against the
Company that relates to Executive’s employment by the Company.

c.   
Continuing Obligations. Executive understands and agrees that Executive’s obligations under Sections 6, 7,
and 8 herein (including Exhibits B and C) shall survive the termination of Executive’s employment for any reason and the
termination of this Agreement.

		7.	Inventions and Proprietary Information; Prohibition on Third Party Information

a.   
Proprietary Information Agreement. Executive agrees to sign and be bound by the terms of the Company’s At-Will
Employment, Confidentiality Information, Invention Assignment and Arbitration Agreement, which is attached as Exhibit B (“Proprietary
Information Agreement”). To the extent any of the terms and conditions of the Proprietary Information Agreement are inconsisent
with the terms of this Agreement, the terms of this Agreement shall control.

     

     

    

 

b.   
Non-Disclosure of Third Party Information. Executive represents and warrants and covenants that Executive shall not
disclose to the Company, or use, or induce the Company to use, any proprietary information or trade secrets of others at any time,
including but not limited to any proprietary information or trade secrets of any former employer, if any; and Executive acknowledges
and agrees that any violation of this provision shall be grounds for Executive’s immediate termination and could subject
Executive to substantial civil liabilities and criminal penalties. Executive further specifically and expressly acknowledges that
no officer or other employee or representative of the Company has requested or instructed Executive to disclose or use any such
third party proprietary information or trade secrets.

		8.	Arbitration

Executive agrees to be bound by the terms of the arbitration
provisions in the Proprietary Information Agreement.

		9.	Amendments; Waivers; Remedies

This Agreement may not be amended or waived except by a writing
signed by Executive and by a duly authorized representative of the Company other than Executive. Failure to exercise any right
under this Agreement shall not constitute a waiver of such right. Any waiver of any breach of this Agreement shall not operate
as a waiver of any subsequent breaches. All rights or remedies specified for a party herein shall be cumulative and in addition
to all other rights and remedies of the party hereunder or under applicable law.

		10.	Assignment; Binding Effect

a.   
Assignment. The performance of Executive is personal hereunder, and Executive agrees that Executive shall have no
right to assign and shall not assign or purport to assign any rights or obligations under this Agreement. This Agreement may be
assigned or transferred by the Company; and nothing in this Agreement shall prevent the consolidation, merger or sale of the Company
or a sale of any or all or substantially all of its assets.

b.   
Binding Effect. Subject to the foregoing restriction on assignment by Executive, this Agreement shall inure to the
benefit of and be binding upon each of the parties; the affiliates, officers, directors, agents, successors and assigns of the
Company; and the heirs, devisees, spouses, legal representatives and successors of Executive.

		11.	Notices

All notices or other communications required or permitted hereunder
shall be made in writing and shall be deemed to have been duly given if delivered: (a) by hand; (b) by a nationally recognized
overnight courier service; or (c) by United States first class registered or certified mail, return receipt requested, to the principal
address of the other party, as set forth below. The date of notice shall be deemed to be the earlier of (i) actual receipt of notice
by any permitted means, or (ii) five business days following dispatch by overnight delivery service or the United States Mail.
Executive shall be obligated to notify the Company in writing of any change in Executive’s address. Notice of change of address
shall be effective only when done in accordance with this paragraph.

     

     

    

 

Company’s Notice Address:

205 E. Washington St., Suite B

Ann Arbor, MI 48104

 

 

Executive’s Notice Address:

*************

 

		12.	Severability

If any provision of this Agreement shall be held by a court
or arbitrator to be invalid, unenforceable, or void, such provision shall be enforced to the fullest extent permitted by law, and
the remainder of this Agreement shall remain in full force and effect. In the event that the time period or scope of any provision
is declared by a court or arbitrator of competent jurisdiction to exceed the maximum time period or scope that such court or arbitrator
deems enforceable, then such court or arbitrator shall reduce the time period or scope to the maximum time period or scope permitted
by law.

		13.	Taxes

All amounts paid under this Agreement (including without limitation
Base Salary and Severance) shall be paid less all applicable state and federal tax withholdings and any other withholdings required
by any applicable jurisdiction or authorized by Executive. Notwithstanding any other provision of this Agreement whatsoever, the
Company, in its sole discretion, shall have the right to provide for the application and effects of Section 409A of the Code (relating
to deferred compensation arrangements) and any related administrative guidance issued by the Internal Revenue Service. The Company
shall have the authority to delay the payment of any amounts under this Agreement to the extent it deems necessary or appropriate
to comply with Section 409A(a)(2)(B)(i) of the Code (relating to payments made to certain “key employees” of publicly-traded
companies); in such event, the payment(s) at issue may not be made before the date which is six (6) months after the date of Executive’s
separation from service, or, if earlier, the date of death.

 

     

     

    

 

		14.	Governing Law AND VENUE

This Agreement is deemed to have been executed in the State
of Michigan and shall be construed and enforced in accordance with the laws of the State of Michigan, without regard to its conflict
of laws principles. The parties consent to the exclusive jurisdiction of the courts in the State of Michigan, County of Washtenaw,
or, if jurisdiction is proper, in the United States District Court for the Eastern District of Michigan and agree that any proceeding
in connection with any claim or dispute relating to this Agreement shall be conducted in such courts, and waive any defense of
lack of personal jurisdiction or improper or inconvenient venue.

		15.	Interpretation

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

		16.	Counterparts

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

		17.	Authority

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

		18.	Entire Agreement

This Agreement is intended to be the final, complete, and exclusive
statement of the terms of Executive’s employment by the Company and may not be contradicted by evidence of any prior or contemporaneous
statements or agreements. The terms related to intellectual property are set forth in the Proprietary Information Agreement but
as provided in Section 7.A the terms of this Agreement shall control in the event of any inconsistency. To the extent that the
practices, policies or procedures of the Company, now or in the future, apply to Executive and are inconsistent with the terms
of this Agreement, the provisions of this Agreement shall control. Any subsequent change in Executive’s duties, position,
or compensation will not affect the validity or scope of this Agreement.

 

     

     

    

 

		19.	Executive AcknowledgEment

EXECUTIVE ACKNOWLEDGES EXECUTIVE HAS HAD THE OPPORTUNITY
TO CONSULT LEGAL COUNSEL CONCERNING THIS AGREEMENT, THAT EXECUTIVE HAS READ AND UNDERSTANDS THE AGREEMENT, THAT EXECUTIVE IS FULLY
AWARE OF ITS LEGAL EFFECT, AND THAT EXECUTIVE HAS ENTERED INTO IT FREELY BASED ON EXECUTIVE’S OWN JUDGMENT AND NOT ON ANY
REPRESENTATIONS OR PROMISES OTHER THAN THOSE CONTAINED IN THIS AGREEMENT.

In
Witness Whereof, the parties have duly executed this Agreement as of the date first written above.

 

 

	[Company]:	[Executive]:
	 	 
	 	 
	By: /s/ Richard Ogawa                          
    	/s/ Ann Marie Sastry                       
	Name	 
	 	 
	Title: Member of the Board of Directors

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