Document:

Exhibit 10.9

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) dated as of May 30, 2014 (the “Effective Date”),
is by and between GrowGeneration Pueblo Corp., a Colorado Company with offices at 800 Westchester Avenue, Suite S-638, Rye
Brook, NY 10573 (the “Company”) and Jason Dawson, an individual residing at 4687 State Hwy 69 Cotopaxi, CO 81223
(the “Executive”).

 

RECITALS

 

WHEREAS,
the Company desires to employ the Executive and the Executive desires to gain employment with the Company, all upon the terms
and provisions, and subject to the conditions, as set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual premises, covenants and agreements hereinafter set forth, and for other good and
valuable consideration, the receipt, and legal adequacy of which is hereby acknowledged, the parties, intending to be legally
bound, hereby agree as follows:

 

1.            POSITION
AND DUTIES.

 

(a)           Reporting. During the term of this Agreement (the “Employment Term”), the Company shall
employ the Executive, and the Executive shall serve, as the Chief Operating Officer of the Company. The Executive shall report
directly to the CEO of the Company.

 

(b)          Responsibilities.
The services to be rendered by the Executive to the Company shall consist of the following:

 

		(i)	Introduce
                                         the Company and its management to industry contacts, distributors and other key vendor
                                         relationships;

 

		(ii)	Initiate, review and evaluate
potential acquisition, development and new store opening opportunities for the Company;

 

		(iii)	Review
                                         and render advise and services to the Pueblo Hydroponics stores, management and its’
                                         employees;

 

		(iv)	Advise
                                         and assist the Company and its management with inventory purchases and identifying new
                                         sources of inventory;

 

		(v)	Advise
                                         the Company on strategic short term and long term planning for its current and future
                                         physical and online operations;

 

		(vi)	Assist
                                         the Company to open new store locations;

 

		(vii)	Promote
                                         the Company to existing and new customers and other businesses involved in the industry.

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		(viii)	Develop the
                                         company’s education program to attract new customers both online and in store.

 

		(ix)	Assist
                                         in the development of the company’s e-commerce strategy.

 

		(x)	Maintain
                                         the current management oversight and provide day to day reporting to the CEO as requested;
                                         and

 

		(xi)	Assist
                                         and advise in the management/ownership transition. Included tasks are operation processes
                                         and procedures, training of the POS systems, purchasing and inventory management and
                                         controls, hiring and training of new hires, P and L and financial reporting as needed.

 

(c)           Devotion
of Executive’s Time. The Executive shall devote substantially all of his business time, labor, skill and energy to conducting
the business and affairs of the Company and to performing his duties and responsibilities to the Company. The Executive shall
perform the Executive’s duties and responsibilities to the Company diligently, competently, faithfully and to the best of his
ability. Executive may perform his duties from his home office in Cotopaxi Colorado.

 

2.            EMPLOYMENT
TERM.

 

(a)           Initial
Term. The initial term of employment shall be for a period of one year (the “Employment Term”), commencing
with the date hereof, unless sooner terminated as provided in this Agreement. Each of the Executive and the Company at his or
its sole discretion and without any reason, may elect not to renew this Agreement at the end of the initial term or any successive
term.

 

(b)           Termination.
Notwithstanding anything herein to the contrary, either the Company or the Executive shall have the right to cancel this Agreement
for any reason or no reason without any liability to the other party. If the Executive’s employment shall be terminated, then
the Company shall pay to the Executive any unpaid salary and benefits through the effective date of termination.

 

(c)           Vacation.
The Executive shall have four weeks of vacation per year, the timing is subject to the approval of the CEO except on July 30 —
August 15 2014 and every year thereafter the Executive will take vacation which will count as two weeks of the allowed four weeks
per year.

 

3.            COMPENSATION.

 

(a)           Salary.
The Company shall pay to the Executive for the services to be rendered by the Executive hereunder, a salary for the initial
Employment Term under this Agreement at the rate of $75,000 per annum. The salary shall be payable in accordance with the
Company’s regular policies, subject to applicable withholding and other taxes.

 

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(b)           Grant
of Options. The Executive has been granted options to acquire 100,000 shares of restricted stock of the Company pursuant to
that Option Agreement dated May , 2014 (the “Option Agreement”) between the Executive and the Company.
The disposition, vesting, transfer or sale of the Options granted in the Option Agreement is subject to the terms and conditions
of the Option Agreement and the Company’s 2014 Equity Incentive Plan..

 

(c)           Expenses.
The Company agrees promptly to reimburse the Executive for all reasonable and necessary business expenses, including without limitation,
telephone and facsimile charges incurred by him on behalf of the Company in the course of his duties hereunder, upon the presentation
by the Executive of appropriate evidence thereof.

 

4.            DEDUCTIONS
AND WITHHOLDINGS. All amounts payable or which become payable to the Executive under any provision of this Agreement shall
be subject to such deductions and withholdings as is required by applicable law.

 

5.            RESTRICTIONS
RESPECTING CONFIDENTIAL INFORMATION, COMPETING BUSINESSES, ETC.

 

5.1           The
Executive acknowledges and agrees that by virtue of the Executive’s position
and involvement with the business and affairs of the Company, the Executive will develop substantial knowledge with respect to
all aspects of the business, affairs and operations of the Company and will have access to significant aspects of the business
and operations of the Company and to Confidential and Proprietary Information (as such term is hereinafter defined). The Executive
acknowledges and agrees that the Company will be damaged if the Executive were to breach any of the provisions of this Section
5 or if the Executive were to disclose or make unauthorized use of any Confidential and Proprietary Information. Accordingly,
the Executive expressly acknowledges and agrees that the Executive is voluntarily entering into this Agreement and that the terms,
provisions and conditions of this Section 5 are fair and reasonable and necessary to adequately protect the Company and its interests
and those of its shareholders.

 

5.2           For
purposes of this Agreement, the term “Confidential and Proprietary Information” shall mean any and all (i) confidential
or proprietary information or material not in the public domain about or relating to the business, operations, assets, financial
condition, plans and/or prospects of the Company or any of its subsidiaries or any of its trade secrets and (ii) any other information,
documentation or material not in the public domain by virtue of any action by or on the part of the Executive, the knowledge of
which gives or may give the Company a competitive advantage over any entity not possessing such information. For purposes hereof,
the term Confidential and Proprietary Information shall not include any information or material that (i) is or becomes known to
the general public other than due to a breach of this Agreement by the Executive, or (ii) is or was known by the Executive other
than by reason of disclosure to it by the Company.

 

5.3           The
Executive hereby covenants and agrees that, while the Executive is engaged by the Company and thereafter, unless otherwise
authorized by the Company in writing, the Executive shall not, directly or indirectly, under any circumstance disclose to any
other person or entity any Confidential and Proprietary Information or fail to act so as to impair the confidential or
proprietary nature of any Confidential and Proprietary Information.

 

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5.4           While
the Executive is engaged by the Company and for one (1) year after
the Executive ceases to be an engaged by the Company, the Executive shall not, directly or indirectly, solicit to
employ or employ for himself or others any employee of the Company who was an employee of the Company or any subsidiary of
the Company as of the date of the termination of the Executive’s engagement with the Company or during the preceding six (6)
month period, or solicit any such employee to leave such employee’s employment or join the employ of another, then or at a
later time.

 

6.            GENERAL
PROVISIONS

 

6.1           Publicity.
The Executive agrees that it will not disclose, and will not include in any public announcement, the name of the Corporation or
any of its officers, directors, employees or affiliates without the prior written consent of the Corporation.

 

6.2           Notices.  All
notices required to be given under the terms of this Agreement shall be
in writing and shall be deemed to have been duly given only if delivered to the addressee in person or mailed by certified mail,
return receipt requested, to the address as included in the Corporation’s records or to any such other address as the party to
receive the notice shall advise by due notice given in accordance with this paragraph. Any party hereto may change its or his
address for the purpose of receiving notices, demands and other communications as herein provided, by a written notice given in
the manner aforesaid to the other party hereto.

 

6.3           Benefit
of Agreement and Assignment. This Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective executors, administrators, successors and assigns; provided, however,
that Executive may not assign any of his rights or duties hereunder except upon the prior written consent of the Chief Executive
Officer of the Corporation.

 

6.4           Applicable
Law. IRRESPECTIVE OF THE PLACE OF EXECUTION OR PERFORMANCE, THE TERMS
AND CONDITIONS OF THIS AGREEMENT SHALL BE INTERPRETED, GOVERNED BY, CONSTRUED, AND ENFORCED IN ACCORDANCE WITH AND UNDER THE LAWS
OF THE STATE OF COLORADO APPLICABLE TO AGREEMENTS ENTERED INTO AND WHOLLY PERFORMED THEREIN WITHOUT GIVING EFFECT TO ITS CONFLICT
OF LAWS PROVISIONS.

 

6.5           Captions.
The captions appearing at the commencement of the sections hereof are descriptive only and for convenience of reference only
and are not intended to be part of or to effect the meaning or interpretation of this Agreement.

 

6.6           Severability.
In the event that any one or more of the provisions contained in this
Agreement or in any other instrument referred to herein, shall, for any reason, be held to be invalid, illegal or unenforceable
in any respect, then to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect
any other provision of this Agreement or any other such instrument.

 

6.7           Entire
Agreement. This Agreement contains the entire understanding and agreement of the parties, and supersedes any and all other
prior and/or contemporaneous understandings and agreements, either oral or in writing, between the parties hereto with respect
to the subject matter hereof, all of which are merged herein. Each party to this Agreement acknowledges that no representations,
inducements, promises, or agreements, oral or otherwise, have been made by either party, or anyone acting on behalf of either
party, which are not embodied herein, and that no other agreement, statement or promise not contained in this Agreement
shall be valid or binding.

 

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6.8           Amendments.,
Waiver. This Agreement may be modified, amended or waived only by an instrument in writing signed by the Company and the Executive.
No waiver of any provision hereof shall be valid unless made in writing and signed by the party making the waiver. No waiver of
any provision of this Agreement shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver
constitute a continuing waiver.

 

6.9           Attorneys’
Fees. Should any party hereto institute any action or proceeding at
law or in equity, or in connection with any arbitration, to enforce any provision of this Agreement, including an action for declaratory
relief, or for damages by reason of an alleged breach of any provision of this Agreement, or otherwise in connection with this
Agreement, or any provision hereof, the prevailing party shall be entitled to recover from the losing party or parties reasonable
attorneys’ fees and expenses for services rendered to the prevailing party in such action or proceeding.

 

6.10         Headings;
Counterparts. The headings contained in this Agreement are inserted for reference purposes only and shall not in any way affect
the meaning, construction or interpretation of this Agreement. This Agreement may be executed in two (2) counterparts, each of
which, when executed, shall be deemed to be an original, but both of which, when taken together, shall constitute one and the
same document.

 

6.11         Further
Assurances. The Executive shall execute and/or cause to be delivered to the Company such instruments and other documents,
and shall take such other actions, as the Company may reasonably request at any time for the purpose of carrying out or evidencing
any of the provisions of this Agreement.

 

6.12         Right
to Legal Representation. The Executive represents and warrants that the Executive has read this Agreement and the Executive
understands connection with the negotiation and execution of this Agreement and that the Executive has either retained and has
been represented by such legal counsel or has knowingly and voluntarily waived his right to such legal counsel and desires to
enter into this Agreement without the benefit of independent legal representation. The Executive acknowledges that Robinson &
Cole LLP• is representing the Company in connection with this Agreement and that it is not representing the Executive in
connection with this Agreement.

 

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IN
WITNESS WHEREOF, each of the Company and the Executive has executed this Agreement as of the date first above written.

 

	GROWGENERATION
    CORP.	 
	 	 	 
	By:	/s/
    Darren Lampert	 
		Name:
    Darren Lampert	 
		Title:
      CEO	 
	 	 	 
	EXECUTIVE	 
	 	 	 
	By:	/s/
    Jason Dawson	 
		Name:
    Jason Dawson	 

 

 

 

Page 6Exhibit 10.10

 

INDEMNIFICATION
AGREEMENT

 

THIS
INDEMNIFICATION AGREEMENT is made and entered into this [__] day of [_______], (the "Agreement"), by and between GrowGeneration
Corp., a Colorado corporation (the "Company," which term shall include, where appropriate, any Entity (as hereinafter
defined) controlled directly or indirectly by the Company), and [__________] (the "Indemnitee"):

 

WHEREAS,
it is essential to the Company that it be able to retain and attract as directors the most capable persons available;

 

WHEREAS,
increased corporate litigation has subjected directors to litigation risks and expenses, and the limitations on directors and
officers liability insurance have made it increasingly difficult for the Company to attract and retain such persons;

 

WHEREAS,
the Company's Certificate of Incorporation and By-laws (as amended from time to time, the "Certificate of Incorporation"
and "By-laws", respectively) require it to indemnify its directors to the fullest extent permitted by law and permit
it to make other indemnification arrangements and agreements;

 

WHEREAS,
the Company desires to provide Indemnitee with specific contractual assurance of Indemnitee's rights to full indemnification against
litigation risks and expenses (regardless, among other things, of any amendment to or revocation of the Certificate of Incorporation
or By-laws or any change in the ownership of the Company or the composition of its Board of Directors);

 

WHEREAS,
the Company intends that this Agreement provide Indemnitee with greater protection that is in addition to the protection which
is provided by the Company's Certificate of Incorporation and Bylaws; and

 

WHEREAS,
Indemnitee is relying upon the rights afforded under this Agreement in becoming or remaining a director of the Company.

 

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

  

	 	1.	Definitions.

 

(a)          "Corporate Status" describes the status of a person who is serving or has served (i) as a director of the Company, (ii)
in any capacity with respect to any employee benefit plan of the Company, or (iii) as a director, partner, trustee, officer, employee,
or agent of any other Entity at the request of the Company. For purposes of subsection (iii) of this Section l(a), if Indemnitee
is serving or has served as a director, partner, trustee, officer, employee or agent of a Subsidiary (as defined below), Indemnitee
shall be deemed to be serving at the request of the Company.

  

(b)          "Entity" shall mean any corporation, partnership, limited liability company, joint venture, trust, foundation, association,
organization or other legal entity.

 

     

     

    

 

(c)          "Expenses" shall mean all fees, costs and expenses incurred by Indemnitee in connection with any Proceeding (as defined
below), including, without limitation, reasonable attorneys' fees, disbursements and retainers (including, without limitation,
any such fees, disbursements and retainers incurred by Indemnitee pursuant to Sections 10 and 11(c) of this Agreement), reasonable
fees and disbursements of expert witnesses, private investigators and professional advisors (including, without limitation, accountants
and investment bankers), court costs, transcript costs, fees of experts, travel expenses, duplicating, printing and binding costs,
telephone and fax transmission charges, postage, delivery services, secretarial services, and other reasonable disbursements and
expenses.

 

(d)          "Indemnifiable Expenses", "Indemnifiable Liabilities" and "Indemnifiable Amounts" shall have the
meanings ascribed to those terms in Section 3(a) below.

 

(e)          "Liabilities" shall mean all judgments, damages, liabilities, losses, penalties, excise taxes, fines, amounts paid in
settlement, obligations and claims of any kind.

 

(f)          "Proceeding" shall mean any threatened, pending or completed claim, action, suit, arbitration, alternate dispute resolution
process, investigation, administrative hearing, appeal, or any other proceeding, whether civil, criminal, administrative, arbitrative
or investigative, whether formal or informal, including a proceeding initiated by Indemnitee pursuant to Section 10 of this Agreement
to enforce Indemnitee's rights hereunder.

 

(g)          "Subsidiary" shall mean any corporation, partnership, limited liability company, joint venture, trust or other Entity
of which the Company owns (either directly or through or together with another Subsidiary of the Company) either (i) a general
partner, managing member or other similar interest or (ii) (A) 50% or more of the voting power of the voting capital equity interests
of such corporation, partnership, limited liability company, joint venture or other Entity, or (B) 50% or more of the outstanding
voting capital stock or other voting equity interests of such corporation, partnership, limited liability company, joint venture
or other Entity.

 

2.           Services
of Indemnitee. In consideration of the Company's covenants and commitments hereunder, Indemnitee agrees to serve or continue
to serve as a director of the Company faithfully and to the best of his ability so long as he is duly elected and qualified in
accordance with the Certificate of Incorporation and By-laws. However, this Agreement shall not impose any obligation on Indemnitee
or the Company to continue Indemnitee's service to the Company beyond any period otherwise required by law or by other agreements
or commitments of the parties, if any.

 

    	 	-2-	 

     

    

 

3.           Agreement
to Indemnify. To the fullest extent permitted by Colorado law, the Company agrees to indemnify Indemnitee as follows:

 

(a)          Proceedings Other Than By or In the Right of the Company. Subject to the exceptions contained in Section 5(a) below, if
Indemnitee was or is a party or is threatened to be made a party to, or is otherwise involved in, as a witness or otherwise, any
Proceeding (other than an action by or in the right of the Company) by reason of Indemnitee's Corporate Status, Indemnitee shall
be indemnified by the Company against all Expenses and Liabilities incurred, suffered or paid by Indemnitee in connection with
such Proceeding (referred to herein as "Indemnifiable Expenses" and "Indemnifiable Liabilities", respectively,
and collectively as "Indemnifiable Amounts").

 

(b)          Proceedings By or In the Right of the Company. Subject to the exceptions contained in Section 5(b) below, if Indemnitee
was or is a party or is threatened to be made a party to, or is otherwise involved in, as a witness or otherwise, any Proceeding
by or in the right of the Company by reason of Indemnitee's Corporate Status, Indemnitee shall be indemnified by the Company against
all Indemnifiable Amounts.

 

(c)          Conclusive Presumption Regarding Standard of Care. In making any determination required to be made under Colorado law with
respect to entitlement to indemnification hereunder, the person, persons or entity making such determination shall presume that
Indemnitee is entitled to indemnification under this Agreement if Indemnitee submitted a request therefor in accordance with Section
6 of this Agreement, and the Company shall 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.

 

(d)          Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification provided in this Section
3, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines
and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee's behalf if, by reason of Indemnitee's
Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (including as a witness
or otherwise) (including a Proceeding by or in the right of the Company), including, without limitation, all Liabilities arising
out of the negligence or active or passive wrongdoing of Indemnitee. The only limitations that shall exist upon the Company's
obligations pursuant to this Agreement shall be that (i) the Company shall not be obligated to indemnify or advance expenses to
Indemnitee in connection with any action, suit, proceeding, claim or counterclaim initiated by or on behalf of Indemnitee except
with respect to an action, suit, proceeding, claim or counterclaim brought to establish or enforce a right to indemnification
or advancement of expenses under this Agreement, unless such action, suit, proceedings, claim or counterclaim was authorized or
consented to by the Board of Directors of the Company and (ii) the Company shall not be obligated to make any payment to Indemnitee
that is determined (consistent with the procedures, and subject to the presumptions, set forth in this Agreement) by a final (not
interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to
which there is no further right or option of appeal or the time within which an appeal must be filed has expired without such
filing to be unlawful under Colorado law.

 

    	 	-3-	 

     

    

 

	 	4.	Contribution in the Event of Joint Liability.

 

(a)          Whether or not the indemnification provided in Section 3 hereof is available, in respect of any Proceeding in which the Company
is jointly liable with Indemnitee (or would be if joined in Proceeding), the Company shall pay, in the first instance, the entire
amount of any judgment or settlement of such Proceeding without requiring Indemnitee to contribute to such payment and the Company
hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any
settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit
or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

(b)          Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any Proceeding in which the Company is jointly
liable with Indemnitee (or would be if joined in such Proceeding), the Company shall contribute to the amount of Expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee
in proportion to the relative benefits received by the Company and all officers, directors or employees of the Company other than
Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand,
and Indemnitee, on the other hand, from the transaction from which such action, suit or proceeding arose; provided, however,
that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted
by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee
who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other
hand, in connection with the events that resulted in such Expenses or Liabilities, as well as any other equitable considerations
which the law may require to be considered. The relative fault of Company and all officers, directors or employees of the Company
other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the
one hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their
actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary,
and the degree to which their conduct is active or passive.

 

(c)          The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought
by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

    	 	-4-	 

     

    

 

5.           Exceptions
to Indemnification. Indemnitee shall be entitled to indemnification under Sections 3(a) and 3(b) above in all circumstances
other than to the extent that any such claim, issue or matter has arisen as a result of any of the following circumstances:

 

(a)          Proceedings Other Than By or In the Right of the Company. If indemnification is requested under Section 3(a) on account
of conduct by Indemnitee where such conduct has been determined by a final (not interlocutory) judgment or other court or arbitration
or administrative body of competent jurisdiction as to which there is no further right or option of appeal or the time within
which an appeal must be filed has expired without such filing to have been knowingly fraudulent or constitute willful misconduct
in connection with such specific claim, issue or matter, or, with respect to any criminal action or proceeding, Indemnitee had
reasonable cause to believe that Indemnitee's conduct was unlawful, Indemnitee shall not be entitled to payment of Indemnifiable
Amounts hereunder.

 

(b)          Proceedings By or In the Right of the Company. If indemnification is requested under Section 3(b) and

 

(i)          it has been determined by a final (not interlocutory) judgment or other court or arbitration or administrative body of competent
jurisdiction as to which there is no further right or option of appeal or the time within which an appeal must be filed has expired
without such filing that the conduct by Indemnitee to have been knowingly fraudulent or constitute willful misconduct in connection
with such specific claim, issue or matter, Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder; or

 

(ii)         it has been determined by a final (not interlocutory) judgment or other court or arbitration or administrative body of competent
jurisdiction as to which there is no further right or option of appeal or the time within which an appeal must be filed has expired
without such filing that Indemnitee is liable to the Company for an accounting of profits made from the purchase or sale by the
Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, the
rules and regulations promulgated thereunder and amendments thereto or similar provisions of any federal, state or local statutory
law.

 

(c)          Insurance Proceeds. To the extent payment is actually made to the Indemnitee under a valid and collectible insurance policy
in respect of Indemnifiable Amounts in connection with such specific claim, issue or matter, Indemnitee shall not be entitled
to payment of lndemnifiable Amounts hereunder except as provided in Section 24 and except in respect of any excess of Indemnifiable
Amounts beyond the amount of payment under such insurance; provided that the Company shall pay or reimburse all Expenses actually
and reasonably incurred by Indemnitee in connection with securing such payment.

 

    	 	-5-	 

     

    

 

(d)          Other Limitation. No indemnity pursuant to this Agreement shall be paid by the Company if such indemnity is determined
by a final (not interlocutory) judgment or other court or arbitration or administrative body of competent jurisdiction as to which
there is no further right or option of appeal or the time within which an appeal must be filed has expired without such filing
to be unlawful under Colorado law.

 

6.           Procedure
for Payment of Indemnifiable Amounts. Indemnitee shall submit to the Company a written request specifying the Indemnifiable
Amounts for which Indemnitee seeks payment under Section 3 of this Agreement and the basis for the claim. The Company shall pay
such Indemnifiable Amounts to Indemnitee within thirty (30) calendar days of receipt of the request. At the request of the Company,
Indemnitee shall furnish such documentation and information as are reasonably available to Indemnitee and necessary to establish
that Indemnitee is entitled to indemnification hereunder. If the Company has not paid such claim pursuant to the foregoing sentence
or has not deemed to have so acknowledged such entitlement pursuant to Section 12(d) below or the Company’s determination
of whether to grant Indemnitee’s indemnification request shall not have been made within such thirty (30) day period, the
requisite determination of entitlement to indemnification shall, subject to Section 5, nonetheless 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 Colorado law.

 

7.           Interpretation.
It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide indemnification
to Indemnitee to the fullest extent now or hereafter permitted by Colorado law.

 

8.           Effect
of Certain Resolutions. Neither the settlement or termination of any Proceeding nor the failure of the Company to award indemnification
or to determine that indemnification is payable shall create a presumption that Indemnitee is not entitled to indemnification
hereunder. In addition, the termination of any proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere
or its equivalent shall not create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company or, with respect to any criminal action or proceeding, had
reasonable cause to believe that Indemnitee's action was unlawful.

 

9.           Agreement
to Advance Expenses; Undertaking. The Company shall advance all Expenses incurred by or on behalf Indemnitee in connection
with any Proceeding, including a Proceeding by or in the right of the Company, in which Indemnitee is involved by reason of such
Indemnitee's Corporate Status within thirty (30) calendar days after the receipt by the Company of a written statement from Indemnitee
requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. To the
extent required by Colorado law, Indemnitee hereby undertakes to repay any and all of the amount of Indemnifiable Expenses (without
interest) paid to Indemnitee if and to the extent it is finally determined by a court of competent jurisdiction that Indemnitee
is not entitled under this Agreement to indemnification with respect to such Expenses. This undertaking is an unlimited general
obligation of Indemnitee.

 

    	 	-6-	 

     

    

 

10.           Procedure
for Advance Payment of Expenses. Indemnitee shall submit to the Company a written request specifying the Indemnifiable Expenses
for which Indemnitee seeks an advancement under Section 9 of this Agreement, together with reasonable documentation evidencing
that Indemnitee has incurred such Indemnifiable Expenses. Payment of Indemnifiable Expenses under Section 9 shall be made no later
than thirty (30) calendar days after the Company's receipt of such request.

 

	 	11.	Remedies of Indemnitee.

 

(a)          Right to Petition Court. In the event that Indemnitee makes a request for payment of Indemnifiable Amounts under Sections
3 and 6 above or a request for an advancement of Indemnifiable Expenses under Sections 9 and 10 above and the Company fails to
make such payment or advancement in a timely manner pursuant to the terms of this Agreement, Indemnitee may petition the Court
of Chancery to enforce the Company's obligations under this Agreement.

 

(b)          Burden of Proof. In any judicial proceeding brought under Section 11(a) above, the Company shall have the burden of proving
that Indemnitee is not entitled to payment of Indemnifiable Amounts hereunder.

 

(c)          Expenses. The Company agrees to reimburse Indemnitee in full for any Expenses incurred by Indemnitee in connection with
investigating, preparing for, litigating, defending or settling any action brought by Indemnitee under Section 11(a) above, or
in connection with any claim or counterclaim brought by the Company in connection therewith, whether or not Indemnitee is successful
in whole or in part in connection with any such action unless finally adjudicated by the a court of the State of Colorado that
such action was brought in bad faith or was frivolous.

 

(d)          Failure to Act Not a Defense. The failure of the Company (including its Board of Directors or any committee thereof, independent
legal counsel, or stockholders) to make a determination concerning the permissibility of the payment of Indemnifiable Amounts
or the advancement of Indemnifiable Expenses under this Agreement shall not be a defense in any action brought under Section 11(a)
above, and shall not create a presumption that such payment or advancement is not permissible.

 

    	 	-7-	 

     

    

 

	 	12.	Defense of the Underlying Proceeding.

 

(a)          Notice
by Indemnitee. Indemnitee agrees to notify the Company promptly upon being served with any summons, citation, subpoena,
complaint, indictment, information, or other document relating to any Proceeding which may result in the payment of
Indemnifiable Amounts or the advancement of Indemnifiable Expenses hereunder; provided, however, that the failure to give any
such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to
receive payments of Indemnifiable Amounts or advancements of Indemnifiable Expenses unless the Company's ability to defend in
such Proceeding is actually and materially and adversely prejudiced thereby.

 

(b)          Defense
by Company. Subject to the provisions of the last sentence of this Section l2(b) and of Section l2(c) below, the Company shall
have the right to defend Indemnitee in any Proceeding which may give rise to the payment of Indemnifiable Amounts hereunder with
counsel reasonably acceptable to Indemnitee; provided, however that the Company shall notify Indemnitee of any such decision to
defend within ten (10) calendar days of receipt of notice of any such Proceeding under Section 12(a) above. The Company shall
not, without the prior written consent of Indemnitee, consent to the entry of any judgment against Indemnitee or enter into any
settlement or compromise which (i) includes an admission of fault of Indemnitee, (ii) does not include, as an unconditional term
thereof, the full release of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance
reasonably satisfactory to Indemnitee or (iii) would otherwise impose any fine or obligation on Indemnitee that is not, and will
not, be indemnifiable under this Agreement. This Section l2(b) shall not apply to a Proceeding brought by Indemnitee under Section
11(a) above or pursuant to Section 20 below.

 

(c)          Indemnitee's
Right to Counsel. Notwithstanding the provisions of Section 12(b) above, if in a Proceeding to which Indemnitee is a party
by reason of Indemnitee's Corporate Status, (i) Indemnitee reasonably concludes that he or she may have separate defenses or counterclaims
to assert with respect to any issue which may not be consistent with the position of other defendants in such Proceeding, (ii)
a conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if the Company fails
to assume the defense of such proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal
counsel of Indemnitee's choice at the reasonable expense of the Company. In addition, if the Company fails to comply with any
of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this
Agreement void or unenforceable, or institutes any action, suit or proceeding to deny or to recover from Indemnitee the benefits
intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee's choice, at
the reasonable expense of the Company, to represent Indemnitee in connection with any such matter.

 

(d)          Company
Acknowledgement. To the fullest extent permitted by Colorado law, the Company’s assumption of the Proceeding
in accordance with paragraph Section 12(b) above will constitute an irrevocable acknowledgement by the Company that any Indemnifiable
Liabilities suffered or paid by Indemnitee and Indemnifiable Expenses by or for the account of Indemnitee actually and reasonably
incurred in connection therewith are indemnifiable by the Company under Section 3 of this Agreement.

 

    	 	-8-	 

     

    

 

13.           Representations
and Warranties of the Company. The Company hereby represents and warrants to Indemnitee as follows:

 

(a)          Authority.
The Company has all necessary power and authority to enter into, and be bound by the terms of, this Agreement, and the execution,
delivery and performance of the undertakings contemplated by this Agreement have been duly authorized by all necessary corporate
action of the Company.

 

(b)          Enforceability.
This Agreement, when executed and delivered by the Company in accordance with the provisions hereof, shall be a legal, valid
and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the enforcement of creditors'
rights generally.

 

14.           Insurance.
The Company shall use its reasonable best efforts to obtain and maintain a policy or policies of insurance with a reputable
insurance company with A.M. Best ratings of “A” or better providing the Indemnitee with coverage for any Liability
asserted against, or incurred by, the Indemnitee or on the Indemnitee’s behalf by reason of its Corporate Status, and to
ensure the Company's performance of its indemnification obligations under this Agreement. In all policies of director and officer
liability insurance obtained and/or maintained by the Company, Indemnitee shall be named as an insured in such a manner as to
provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company's officers and directors,
and such insurance policies shall have other coverage terms and policy limits at least as favorable to Indemnitee as the insurance
coverage provided to any other director or officer of the Company.

 

15.           Contract
Rights Not Exclusive. The rights to payment of Indemnifiable Amounts and advancement of Indemnifiable Expenses provided by
this Agreement shall be in addition to, but not exclusive of, any other rights which Indemnitee may have at any time under applicable
law, the Company's Certificate of Incorporation or By-laws, or any other agreement, vote of stockholders or directors (or a committee
of directors), or otherwise, both as to action in Indemnitee's official capacity and as to action in any other capacity as a result
of Indemnitee's serving as a director of the Company. No amendment or alteration of the Company’s Certificate of Incorporation
or By-laws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement.

 

16.           Successors.
This Agreement shall be (a) binding upon all successors and assigns of the Company (including any transferee of all or a substantial
portion of the business, stock and/or assets of the Company and any direct or indirect successor by merger or consolidation or
otherwise by operation of law) and (b) binding on and shall inure to the benefit of the heirs, personal representatives, executors
and administrators of Indemnitee. This Agreement shall continue for the benefit of Indemnitee and such heirs, personal representatives,
executors and administrators after Indemnitee has ceased to have Corporate Status. The Company shall require and cause any direct
or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or
assets of the Company, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no
such succession had taken place.

 

    	 	-9-	 

     

    

 

17.           Subrogation.
In the event of any payment of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of
such payment to all of the rights of contribution or recovery of Indemnitee against other persons, and Indemnitee shall take,
at the request of the Company, all reasonable action necessary to secure such rights, including the execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights. The Company shall pay or reimburse all Expenses actually
and reasonably incurred by Indemnitee in connection with such subrogation. In no event, however, shall the Company or any other
person have any right of recovery through subrogation against (i) Indemnitee, (ii) the Other Indemnitors (as defined below), or
(iii) any insurance policy purchased or maintained by Indemnitee or the Other Indemnitors.

 

18.           Change
in Law. To the extent that a change in Colorado law (whether by statute or judicial decision) shall permit broader indemnification
or advancement of expenses than is provided under the terms of the By-laws and this Agreement, Indemnitee shall be entitled to
such broader indemnification and advancements, and this Agreement shall be deemed to be amended to such extent.

 

19.           Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under
applicable law, but if any provision of this Agreement, or any clause thereof, shall be determined by a court of competent jurisdiction
to be illegal, invalid or unenforceable, in whole or in part, such provision or clause shall be limited or modified in its application
to the minimum extent necessary to make such provision or clause valid, legal and enforceable, and the remaining provisions and
clauses of this Agreement shall remain fully enforceable and binding on the parties and the Company shall nevertheless indemnify
Indemnitee if Indemnitee was or is made or is threatened to be made a party or is otherwise involved in any threatened, pending
or completed action, suit or proceeding (brought in the right of the Company or otherwise), whether civil, criminal, administrative
or investigative and whether formal or informal, including appeals, by reason of the fact that Indemnitee is or was (whether on
or prior to the date of this Agreement or thereafter) or has agreed to serve as a director, officer, employee or agent of the
Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of
the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner or manager
or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan
or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, from and against all loss
and liability suffered and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement reasonably
incurred by or on behalf of Indemnitee in connection with such action, suit or proceeding, including any appeals, to the fullest
extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted
by law.

 

    	 	-10-	 

     

    

 

20.           Indemnitee
as Plaintiff. Except as provided in Section 11(c) of this Agreement and in the next sentence, Indemnitee shall not be entitled
to payment of Indemnifiable Amounts or advancement of Indemnifiable Expenses with respect to any Proceeding brought by Indemnitee
against the Company, any Entity which it controls, any director or officer thereof, or any third party, unless the Board of Directors
of the Company has consented to the initiation of such Proceeding. This Section shall not apply to counterclaims or affirmative
defenses asserted by Indemnitee in an action brought against Indemnitee.

 

21.           Modifications
and Waiver. Except as provided in Section 18 above with respect to changes in Colorado law which broaden the right of Indemnitee
to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by each 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 of this Agreement (whether or not similar), nor shall such waiver constitute a continuing waiver

 

22.           General
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have
been duly given (a) when delivered by hand, (b) when transmitted by facsimile or by email and receipt is acknowledged, or (c)
if mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:

 

		(i)	If
                                         to Indemnitee, to:

 

[________________]

 

		(ii)	If
                                         to the Company, to:

 

GrowGeneration
Corp.

503 North
Main St., Suite 740

Pueblo,
CO 81003

Facsimile:
[__________]

Email: [____________]

 

or
to such other address as may have been furnished in the same manner by any party to the others.

 

23.           Governing
Law; Consent to Jurisdiction; Service of Process. This Agreement shall be governed by and construed in accordance with the
laws of the State of Colorado without regard to its rules of conflict of laws. Each of the Company and the Indemnitee hereby irrevocably
and unconditionally consents to submit to the exclusive jurisdiction of the state courts of the State of Colorado and the courts
of the United States of America located in the State of Colorado (the " Colorado Courts") for any litigation arising
out of or relating to this Agreement and the transactions contemplated hereby (and agrees not to commence any litigation relating
thereto except in such courts), waives any objection to the laying of venue of any such litigation in the Colorado Courts and
agrees not to plead or claim in any Colorado Court that such litigation brought therein has been brought in an inconvenient forum.
Each of the parties hereto agrees, (a) to the extent such party is not otherwise subject to service of process in the State of
Colorado, to appoint and maintain an agent in the State of Colorado as such party's agent for acceptance of legal process, and
(b) that service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated
by the United States Postal Service constituting evidence of valid service. Service made pursuant to (a) or (b) above shall have
the same legal force and effect as if served upon such party personally within the State of Colorado. For purposes of implementing
the parties' agreement to appoint and maintain an agent for service of process in the State of Colorado, each such party does
hereby appoint the Company, 503 N Main St, Suite 740, Pueblo, CO 81003, as such agent and each such party hereby agrees to complete
all actions necessary for such appointment.

 

    	 	-11-	 

     

    

 

24.           Primacy
of Indemnification. The Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement
of expenses and/or insurance provided by the fund with which the Indemnitee is associated and/or other sources (collectively,
the "Other Indemnitors”). The Company hereby agrees that it is the indemnitor of first resort (i.e., its obligations
to Indemnitee are primary and any obligation of the Other Indemnitors to advance expenses or to provide indemnification for the
same expenses or liabilities incurred by Indemnitee are secondary), and that the Company will not assert that the Indemnitee must
seek expense advancement or reimbursement, or indemnification, from any Other Indemnitor before the Company must perform its expense
advancement and reimbursement, and indemnification obligations, under this Agreement. No advancement or payment by the Other Indemnitors
on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect
the foregoing. The Other Indemnitors shall be subrogated to the extent of such advancement or payment to all of the rights of
recovery which Indemnitee would have had against the Company if the Other Indemnitors had not advanced or paid any amount to or
on behalf of Indemnitee. If for any reason the a court of competent jurisdiction determines that the Other Indemnitors are not
entitled to the subrogation rights described in the preceding sentence, the Other Indemnitors shall have a right of contribution
by the Company to the Other Indemnitors with respect to any advance or payment by the Other Indemnitors to or on behalf of the
Indemnitee.

 

25.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which
together shall be deemed to be one and the same instrument, notwithstanding that both parties are not signatories to the original
or same counterpart.

 

26.           Reliance;
Third Party Beneficiary. The Company expressly confirms and agrees that it has entered into this Agreement and assumes the
obligations imposed on it hereby in order to induce Indemnitee to serve as an officer or director of the Company, and the Company
acknowledges that Indemnitee is relying upon this Agreement in serving as an officer or director of the Company. The Company and
Indemnitee agree that each Other Indemnitor is a third party beneficiary of this Agreement.

 

[Signatures
on the Following Page]

 

    	 	-12-	 

     

    

 

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

 

	 	COMPANY:
	 	GROWGENERATION CORP, INC.
	 	 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	INDEMNITEE:
	 	 
	 	 
	 	[___________]

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