Document:

Exhibit 10.5

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT
(the “Agreement”) is made as of _________, 2020, between Mark H. Wilson, an individual (“Executive”), and
F5 Finishes, Inc., a Delaware corporation (the “Company”). This Agreement hereby supersedes any other employment agreements
or understandings, written or oral, between Company and Executive.

 

1. Term. Company
hereby agrees to the employment of Executive, and Executive hereby accepts employment with the Company under the terms and conditions
set forth in this Agreement. This Agreement shall commence on the date that the Company closes its initial public offering (“IPO”)
of its common stock (the “Effective Date”) and, subject to the various termination provisions contained herein, shall
extend through December 31, 2021 (the “Original Term”). Thereafter, on January 1 of each succeeding year, commencing
with January 1, 2022 this Agreement shall automatically renew for successive one-year periods (each a “Renewal Term”
and together with the Original Term, the “Term”), unless terminated according to one of the termination provisions
contained herein. This Agreement shall automatically terminate in the event that the IPO does not close prior to June 30, 2020.

 

2. Employment.

 

a. Position.
The Company agrees to employ Executive as its Chief Financial Officer during the Term. Executive shall report to the Chief Executive
Officer of the Company.

 

b. Duties. Executive
shall promote the interests of the Company and shall diligently, and to the best of his ability, perform all duties as are customarily
performed by persons acting in such Chief Financial Officer capacity and all such other duties as may be assigned by the Chief
Executive Officer from time to time to time, all in accordance with the bylaws and corporate policies of the Company in effect
from time to time.

 

c. Time to be Devoted
to Employment. Executive shall devote his full time and energy to the business of the Company. Executive shall not be engaged
in any other enterprise or business activity, whether for-profit or not-for-profit in nature, which would require significant time
and attention or otherwise interfere with Executive’s duties and responsibilities hereunder, without the express written
consent of the Board.

 

3. Compensation
and Benefits.

 

a. Base Salary.
Executive shall receive an annual base salary of$250,000 per year (the “Base Salary”) payable in accordance with the
Company’s regular payroll practices, as established from time to time. Executive’s Base Salary and any cash bonus or
other compensation shall be subject to withholding and other applicable taxes. Base Salary may be increased from time to time,
but not decreased without the written consent of Executive, by the Compensation Committee of the Board (the “Committee”)
taking into consideration such factors as inflation, geographic market and competitive trends, corporate performance and circumstances,
individual job performance and other factors that the Committee, in its sole discretion, deems pertinent.

 

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b. Annual Incentive
Cash Bonus. Executive will be eligible to receive an annual incentive cash bonus of up to 50% of his base salary for each full
fiscal year that Executive is employed under this Agreement, provided that if the Effective Date occurs in the first quarter of
2020, the annual incentive cash bonus shall be effective for 2020, but shall be prorated accordingly. To determine Executive’s
annual cash bonus, the Committee will establish a written plan in consultation with the Company’s senior management (the
“Annual Cash Bonus Plan”) with (i) pre-determined quantifiable objective performance goals and metrics as determinants
for a portion of the eligible bonus, and/or (ii) pre-determined qualitative subjective goals as determinants for a portion of the
eligible bonus. The annual cash bonus determined to be due, if any, will be paid within 120 calendar days after the close of the
Company's fiscal year and completion of an outside audit of the Company’s consolidated financial statements by the Company's
independent public accounting firm.  

 

c. Long-Term Incentive
Awards.

 

(1) Executive will
be eligible to receive equity incentive awards under the Company’s 2019 Incentive Stock Plan (the “Stock Plan”)
and any other future plan that may be approved by the Company’s shareholders and adopted by the Company for each full fiscal
year that Executive is employed under this Agreement. Such equity awards are intended as an incentive for future performance and
to align management and shareholder interests.

 

(2) Upon this Agreement
becoming effective, Executive will be granted (i) options to purchase 50,000 shares of the Company’s common stock and (ii)
25,000 shares of restricted stock, under the Stock Plan. The options will vest in four equal installments on each of the first
four anniversaries of the grant. The restricted stock will vest in four equal installments on each of the first four anniversaries
of the grant, provided that the average per share closing price of the Company’s common stock during the thirty-day period
prior to the date of vesting is 10%, 15%, 20% and 25% higher than the per-share IPO price for the first, second, third and fourth
anniversaries, respectively.

 

(3) The nature and
amount of additional equity awards occurring after the Effective Date, if any, and the vesting terms will be based 100% on the
discretion of the Committee based on the Committee’s assessment of the corporate and individual performance for that fiscal
year. For 2021 and future years, provided that the Company has shares available for grant under the Stock Plan or other approved
plans, the Committee will establish a written plan (the “Annual Long-Term Incentive Plan”) with (i) pre-determined
quantifiable objective performance goals and metrics as determinants for a portion of the eligible equity award, and/or (ii) pre-determined
qualitative subjective goals as determinants for a portion of the eligible equity award. The long-term incentive awards determined
to be due, if any, will be awarded at the same time that other employees receive their long-term incentive grants.

 

d. Benefits. Executive
shall be entitled to four (4) weeks of paid vacation per year or such greater amount as may be afforded senior executives under
the Company’s policies in effect from time to time. Executive shall also be eligible for executive perquisites as may be
available and deemed appropriate for Executive by the Board or the Committee. Executive shall also participate in any other Company
benefit plan, to the extent he is eligible, that is generally available to the employees of the Company. The Company reserves the
right to amend, modify or terminate any of the Company’s employee benefits at any time for any reason.

 

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e. Reimbursement
of Expenses. The Company shall reimburse Executive for all reasonable, documented business expenses incurred by Executive on
behalf of the Company in performance of his duties in accordance with the Company’s policies governing such matters in effect
from time to time.

 

4. Definitions.
The following definitions shall apply with respect to this Agreement.

 

a. Base Salary
means Executive’s annual salary; it shall not include any other benefits and special allowances for which Executive is eligible
(e.g., bonuses). If Executive’s annual salary is adjusted following the Effective Date of this Agreement, the adjusted annual
salary would then represent Executive’s Base Salary.

 

b. Change of Control
means an event or the last of a series of related events by which:

 

(1) any Person
directly or indirectly acquires or otherwise becomes entitled to vote stock having 51% or more of the voting power in elections
for Directors; or

 

(2) during
any 24-month period beginning with the Effective Date hereof, a majority of the members of the Company’s Board of Directors
ceases to consist of Qualifying Directors. A Director shall be considered a “Qualifying Director” if he or she falls
into any one of the following five categories:

 

(A) a Director
at the beginning of the period (“continuing Directors”); or

 

(B) a Director
elected to office after the start of the period by the Board of Directors with the approval of two-thirds of the incumbent continuing
Directors (an “appointed Director”); or

 

(C) a Director
elected to office after the start of the period by the Company’s stockholders following nomination for election by the Board
of Directors with the approval of two-thirds of the incumbent continuing and appointed Directors (an “elected Director”);
or

 

(D) a Director
elected to office after the start of the period by the Board of Directors with the approval of two-thirds of the incumbent continuing,
appointed and elected Directors; or

 

(E) a Director
elected to office after the start of the period by the Company’s stockholders following nomination for election by the Board
of Directors with the approval of two-thirds of the incumbent continuing, appointed and elected Directors; or

 

(3) the Company
merges or consolidates with another corporation, and holders of outstanding shares of the aggregate of the Company’s common
stock immediately prior to the merger or consolidation do not own stock in the survivor of the merger or consolidation having more
than 51% of the voting power in elections for Directors; or

 

(4) the Company
sells all or a substantial portion of the consolidated assets of the Company and its subsidiaries, and the Company does not own
stock in the purchaser having more than 51% of the voting power in elections for Directors.

 

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As used in this definition,
a “Person” means any “person” as that term is used in sections 13(d) and 14(d) of the Exchange Act, together
with all of that person’s “affiliates” and “associates” as those terms are defined in Rule 12b-2
under the Exchange Act.

 

c. Code means
the Internal Revenue Code.

 

d. Competing Business
means a person, proprietorship, partnership, joint venture, limited liability company, corporation, enterprise or other entity,
whether for-profit or not-for-profit in nature, other than the Company or its subsidiaries and affiliates, that from or at any
location anywhere within a radius of one hundred (100) miles of the corporate office of the Company or any location from or at
which the Company, directly or indirectly through one or more subsidiaries, maintained an office, warehouse or other facility during
the two-year period ending on the date of termination of Executive's employment (1) is engaged in the business of providing commercial
flooring solutions, including sales, installation and maintenance services for existing and new commercial buildings, or multi-family
residential high-rise buildings or (2) provides any other products or services that the Company provided at any time during the
two-year period ending on the date of termination of Executive's employment.

 

e. Disability
means that Executive is unable to perform his duties and responsibilities hereunder to the full extent required by Company by reason
of physical or mental illness, injury or incapacity that has been ongoing for either ninety (90) consecutive days or as “disability”
is defined in the Company’s disability insurance policies which cover the Executive.

 

f. Exchange Act
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

g. Termination for
Cause means a termination of Executive’s employment by the Company due to Executive’s:

 

(1) willful
and material failure to perform or observe (other than by reason of Disability as contemplated in Paragraph 13), or gross negligence
in the performance of, any of the terms or provisions of this Agreement, including the failure of Executive to follow the reasonable
written directions of Company’s Board of Directors, and any breach of his agreements and covenants with the Company as described
in Paragraphs 5, 6, 7 or 8 hereof; or

 

(2) dishonesty,
including fraud, a breach of fiduciary duty or misconduct on the part of Executive, that is or is reasonably likely to cause material
damage to the business or reputation of Company; or

 

(3) conviction
(or a plea of nolo contendere or similar plea) of a felony or any crime involving moral turpitude; or

 

(4) failure
to perform duties due to abuse of alcohol or drugs; or

 

(5) misappropriation
of funds or property of the Company; or

 

(6) failure
to comply with the significant provisions of the Company’s policies as specified in the Employee Handbook, or as otherwise
adopted by the Board and provided to Executive, applicable to Executive and then in effect.

 

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h. Termination for
Good Reason means that any of the following events have taken place and Executive gives written notice of his intent to resign
his employment with the Company and said resignation is submitted within thirty (30) days of the event: (i) a reduction in the
Base Salary of Executive without Executive’s written consent; (ii) a relocation (or demand for relocation) of Executive’s
office location and principal place of employment to a location more than fifty (50) miles from Executive’s current office
location and principal place of employment; or (iii) a significant or material reduction in Executive’s job duties or level
of responsibility.

 

i. Termination Without
Cause means a termination of Executive’s employment by the Company for any reason other than those specified in subparagraph
4.g.(1) through (6) above, except for Disability which is covered in Paragraph 13.b.

 

j. Window Period
means a period beginning thirty (30) calendar days prior to the date a Change of Control is effected and ending on the one-year
anniversary of the date a Change of Control is effected.

 

5. Employment.
The Company shall be entitled to all of the benefits and profits arising from or incident to the work, services and advice rendered
by Executive relating to his work performed for the Company. Executive shall make all information available to the Company that
relates to the Company’s business of which he has any knowledge and shall not use any such information or the benefits of
any such information for his personal profit or that of any third party.

 

6. Inventions and
Assignment of Rights Thereto.

 

a. Executive
shall promptly disclose in writing to the officials designated by the Company to receive such disclosures, complete information
concerning each and every substantive conception and ideas for invention, discovery, improvement, device, design, apparatus, practice,
process, method or product (hereinafter referred to as “Inventions”), whether Executive considers them patentable or
not, made, developed, perfected, devised, conceived or reduced to practice by Executive, either solely or in collaboration with
others, whether or not during regular working hours, relating either directly or indirectly to the business, products, practices
or techniques of the Company, or resulting from any work performed by Executive for the Company or with the equipment, supplies,
facilities or Confidential Information (as defined below) of the Company during the period of Executive’s employment by the
Company and for a period of twenty-four (24) months after termination of employment,. Executive hereby agrees that, except as provided
in Section 6.b., any Inventions made, developed, perfected, devised, conceived or reduced to practice by Executive during the period
of his employment by the Company, and any other Inventions made, developed, perfected, devised, conceived or reduced to practice
by Executive during a period of twenty-four (24) months after termination of his employment if based upon the Confidential Information
of the Company, relating either directly or indirectly to the business, products, practices or techniques of the Company, or resulting
from any work performed by Executive for the Company or with the equipment, supplies, facilities or Confidential Information of
the Company, are the sole property of the Company, and he hereby assigns and agrees to assign to the Company, its successors and
assigns, all of his right, title and interest in and to said Inventions, and any patent applications or Letters Patent thereon.
During the time period that this covenant shall apply, Executive shall execute any and all applications, assignments or other instruments
that Employer or its counsel shall deem necessary to apply for and obtain Letters of Patent of the United States or any foreign
country or to otherwise protect Employer’s interest in any Inventions.

 

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b. For the avoidance
of doubt, as provided in California Labor Code section 2870, nothing in this Agreement shall require Executive to assign any rights
to any Invention that Executive developed entirely on Executive's own time without using any of the Company's equipment, supplies,
facilities, or Trade Secrets and (i) that does not relate at the time of conception or reduction to practice of the Invention to
the Company's business or the Company's actual or demonstrably anticipated research or development or (ii) that does not result
from any work performed by Executive for the Company.

 

7. Confidentiality.
Executive recognizes that his employment with the Company will involve contact with information of substantial value to the Company,
which may not be generally known in the trade and which gives the Company an advantage over its competitors who do not know or
use it, including, but not limited to, correspondence, files, records, documents, memoranda, reports, designs, drawings, processes,
inventions, developments, equipment, prototypes, sales and customer information, and business and financial information, relating
to the business, products, practices or techniques of the Company (hereinafter referred to as “Confidential Information”),
whether prepared by Executive or otherwise coming into Executive’s possession. Confidential Information does not include
information that currently is generally available to or known by the public or hereafter becomes generally available to or known
by the public through no fault of Executive, or is obtained by Executive from a third party who is under no obligation of confidence
to the Company. Such Confidential Information, in whatever form or medium, shall remain the Company’s exclusive property,
and during Executive's employment with the Company and continuing indefinitely following the termination of Executive's employment,
regardless of the reason for or circumstances of Executive’s termination, Executive shall treat all Confidential Information
as secret and confidential and shall not directly or indirectly (i) publish or disclose any Confidential Information to any third
party (except as required in the normal course of Executive's employment or by a court order or as expressly authorized by an officer
of the Company), or (ii) use any Confidential Information for Executive’s own account or purposes. Further, Executive shall,
during his employment and thereafter, refrain from any acts or omissions that would reduce the value of such Confidential Information
to the Company. Upon the termination of Executive’s employment, or at any other time that the Company requests, Executive
shall promptly turn over to the Company or destroy all written or tangible Confidential Information that may be in Executive’s
possession or control (including all copies and summaries and notes derived from Confidential Information); provided, however,
that Executive must certify to Company in writing that such destruction or return has been accomplished and provided further that
Executive may retain one archival copy of any Confidential Information that may be reasonably needed to respond to possible claims
involving Executive. This Section 7 shall continue to apply to any Confidential information retained as an archival copy.

 

8. Non-solicitation
and Noncompetition.

 

a. Non-solicitation
of Company Executives. Executive agrees that, during his employment with the Company and, regardless of the reason or circumstances
of Executive’s termination, for a period of twenty-four (24) months beginning on the date of termination of Executive's employment
(together, the “Covenant Period”), Executive shall not directly or indirectly, for himself or on behalf of any other
person or entity, solicit or induce for employment or attempt to solicit or induce for employment or hire away for himself or any
person, firm, corporation or other entity, any full-time or part-time employee of the Company or of a subsidiary or affiliate of
the Company, regardless of whether the employee was employed on an “at will” basis or pursuant to a written agreement
(Executive’s “Non-solicitation Covenant”).

 

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b. Noncompetition.
Executive agrees that during his employment with the Company, Executive shall not, directly or indirectly, for himself or on behalf
of any other person or entity as an employee, employer, consultant, agent, lender, principal, partner, investor, stockholder, manager,
member, corporate officer, director, or in any other individual or representative capacity: (i) invest in, engage in, or permit
his name to be used in connection with any Competing Business, (ii) accept employment with or render services of any kind to a
Competing Business, or (iii) call on, solicit or divert or attempt to call on, solicit or divert for a Competing Business any business
from a person, firm, corporation or other entity that was an actual or prospective customer or account of the Company or a subsidiary
of the Company during Executive’s employment with the Company (Executive’s “Noncompetition Covenant”).
This Noncompetition Covenant shall not be deemed to prohibit Executive from acquiring as a personal investment not more than one
percent (1%) of the capital stock of a Competing Business whose stock is traded on a national securities exchange or over-the-counter.

 

c. Violations.
The duration of the Covenant Period shall be extended by a length of time equal to (i) the period during which Executive is in
violation of Executive’s Non-solicitation Covenant or Noncompetition Covenant and (ii) without duplication, any period during
which litigation or arbitration that the Company institutes to enforce Executive’s Non-solicitation Covenant or Noncompetition
Covenant is pending (to the extent that Executive is in violation of Executive’s Non-solicitation Covenant or Noncompetition
Covenant during this period). The Company shall not be obligated to pay Severance Payments (as described below) during (i) the
period during which Executive is in violation of Executive’s Non-solicitation Covenant or Noncompetition Covenant and (ii)
without duplication, any period during which litigation or arbitration that the Company institutes to enforce Executive's Non-solicitation
Covenant or Noncompetition Covenant is pending.

 

9. At-Will Employment,
Severance Payments and Other Benefits Without Cause, Due to a Termination for Good Reason or in the Event of Termination of Employment
as of or Following a Change of Control.

 

a. Nothing in this
Agreement or in any of the Company’s personnel policies will be deemed to constitute a right to employment or to otherwise
obligate the Company to employ Executive. At all times, Executive’s employment with the Company is “at-will,”
which means that Executive may resign at any time for any reason and the Company may terminate Executive’s employment at
any time for any reason or for no reason at all, with or without advance notice (provided that any notice of termination by either
party shall be in writing). If Executive’s employment is terminated for any reason, this Agreement will terminate automatically,
Executive shall have no further rights or obligations hereunder except for the provisions that expressly survive the termination
of this Agreement, and the Company shall have no further obligations to Executive, other than for payment of Executive’s
Base Salary through the date of termination to the extent not theretofore paid, or such obligations as are otherwise expressly
provided in this Agreement.

 

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b. In the event that,
at any time during the Term, (i) Executive’s employment is terminated by a Termination Without Cause by either the Company
or by the Company’s successor following a Change of Control wherein the successor has assumed and agreed to perform all of
the Company’s obligations under this Agreement, or (ii) Executive terminates his employment as a result of a Termination
for Good Reason, the Company or its successor, as the case may be, will provide payment and benefits to Executive as stipulated
in Paragraph 9.d. below and all the agreements referred to in Paragraphs 5, 6, 7 and 8 shall apply as written.

 

c. In the event of
a pending Change of Control wherein the Company and Executive have not received written notice at least five (5) business days
prior to the anticipated closing of the transaction giving rise to the Change of Control from the successor to all or a substantial
portion of the Company’s business and/or assets that such successor is willing as of the Change of Control date to assume
and agree to perform all of the Company’s obligations under this Agreement in the same manner and to the same extent that
the Company is hereby required to perform, then such Change of Control shall be deemed to be a Termination Without Cause as of
the date of such Change of Control, and the Company will provide payment and benefits to Executive as stipulated in Paragraph 9.d.
below and all the agreements referred to in Paragraphs 5, 6, 7 and 8 shall apply as written.

 

d. For a termination
of Executive’s employment as described in Paragraphs 9.b. or 9.c., the Company shall make the following payments and provide
the following benefits to Executive:

 

(1) Accrued
Salary and Benefits. The Company shall pay Executive’s Base Salary through the effective date of termination of Executive’s
employment. In addition, Executive shall receive the following: (i) payment for accrued but unused vacation time through the date
of termination, payable within fifteen (15) days of the termination date; and (ii) group health coverage, including eligible medical,
dental and vision insurance that Executive was participating in at the time of termination, through the last day of the calendar
month during which the termination occurs (group health coverage after such date being governed by COBRA).

 

(2) Severance.
For a termination of Executive’s employment as described in Paragraphs 9.b or 9.c, the Company shall additionally pay to
Executive an amount equal to 75% of his of Base Salary in effect at the time of termination of his employment (“Severance”)
for twelve months (the “Severance Period”) following the termination of his employment. Executive’s right to
continue receiving Severance payments shall terminate at such time as he has accepted an offer for, and commenced, full-time employment,
advisory, consulting or other full-time work, provided that in the event that any alternative employment be at a salary rate less
than 75% of your last Company salary rate, the Company will continue the severance payment for the remaining Severance Period at
such lesser amount so that the combined monthly salary from Executive’s new position and the Company’s monthly payment
is equal to 75% of your last Company monthly salary rate. Executive shall notify the Company in writing within five (5) business
days after accepting such full-time employment or engagement, which notice shall set forth the date on which Executive is to commence
or has commenced work in the new position. Until such time as Executive so notifies the Company, the Company will authorize a month
of severance pay continuation for the then-current month; provided, however, that if executive commences working in his new position
during the then-current month, Severance for such month will be pro-rated accordingly. For purposes of clarification, Executive’s
right to receive severance payments will, as applicable, cease permanently or be permanently reduced through the end of the Severance
Period, upon commencement of work in his new position. Executive shall use reasonable commercial efforts to find a new, full-time
position and commence work in that position as soon as practicable.

 

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(3) COBRA.
Executive’s existing coverage under the Company’s group health plan (and, if applicable, the existing group health
coverage for eligible dependents) will end on the last day of the month in which the eligible Executive’s employment terminates.
Executive and his eligible dependents may then be eligible to elect temporary continuation coverage under the Company’s group
health plan in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). Executive
(and, if applicable, his eligible dependents) will be provided with a COBRA election form and notice which describe his rights
to continuation coverage under COBRA. If Executive elects COBRA continuation coverage, Executive (and, if applicable, his eligible
dependents) may continue coverage at his own expense in accordance with COBRA or other applicable laws.

 

e. Severance will be
payable in installments over a twelve- month period (“Severance Payments”), beginning on the next regular payroll payment
date in accordance with the Company’s normal payroll practice, except that 401k contributions will not be allowed on any
severance payments. To the extent that any Severance Payment is not subject to Code Section 409A, the Company may, in its sole
discretion, elect to make Executive’s severance payment in a lump sum in cash within sixty (60) days after Executive’s
date of termination. If paid in installments, each installment shall be treated as a separate payment for Code Section 409A purposes.
To the extent necessary to comply with Code Section 409A, if the Severance Payment could be made or commence in more than one taxable
year depending upon when Executive executes the release, the payment will be made or commence in the later taxable year.

 

f. Payment of any Severance
or post-termination benefits described in Paragraph 9.d. above shall be conditioned upon the following:

 

(1) If Executive
is eligible to receive severance benefits under any other severance plan created by the Company, then the Company will reduce dollar
for dollar any benefit due under this Agreement.

 

(2) Executive
understands and agrees that no Severance Payments shall be made and no post-termination benefits provided to Executive pursuant
to Paragraph 9.d. unless Executive enters into a separation agreement including a general release of claims and obligations against
the Company and its affiliates in a form and substance acceptable to the Company and its counsel within fifty-two (52) days after
Executive’s date of termination, and provided that Executive have not rescinded such separation agreement within seven (7)
days thereafter; provided, that such separation agreement shall contain no post-employment restrictions on competition and/or
solicitation other than those contained in this Agreement.

 

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10. Acceleration
of Stock Options and Restricted Stock in the Event of a Change of Control. In the event of a Change of Control, all of Executive’s
outstanding options shall become fully vested and exercisable, and all restrictions on the shares underlying Executive’s
restricted stock awards shall lapse upon the occurrence of both:

 

a. A Change
of Control; and

 

b. (i) A
Termination Without Cause by the Company during the Window Period or (ii) a Termination for Good Reason by Executive during the
Window Period.

 

11. Section 280G
Limitation on Severance Payments. The Severance Payments as described in Paragraph 9d.(2) of this Agreement shall be reduced
as necessary so that the present value, as determined in accordance § 280G(d)(4) of the Code, of the sum of (i) the Severance
Payments and (ii) all other payments, if any, that must be taken into account for purposes of computation under § 280G(b)(2)(A)(ii)
of the Internal Revenue Code in respect of Executive does not exceed 2.99 times Executive’s base amount, as “base amount”
is defined in § 280G(b)(3) of the Code.

 

12. Resignation,
Termination for Cause. Upon Executive’s resignation other than a Termination for Good Reason, or upon a Termination for
Cause, (i) the Company shall (a) pay Executive’s Base Salary through the effective date of termination of Executive’s
employment, (b) pay Executive for accrued but unused vacation time through the date of termination, payable within fifteen (15)
days of the termination date, and (c) provide to Executive group health coverage, including eligible medical, dental and vision
insurance that Executive was participating in at the time of termination, through the last day of the calendar month during which
the termination occurs (group health coverage after such date being governed by COBRA), and (ii) Executive shall thereafter not
be entitled to any Severance Payments or additional payments or benefits from the Company and all the agreements referred to in
Paragraphs 5, 6, 7 and 8 shall apply as written.

 

13. Death or Disability.

 

a. Death. 
In the event that Executive dies during the Term hereof, this Agreement shall terminate and the Company shall have no further liability
or obligation hereunder to Executive’s executors, legal representatives, administrators, heirs or assigns or any other person
claiming under or through Executive. All unvested stock options, restricted stock or restricted stock units owned by Executive
at the time of death shall immediately vest in accordance with their terms of grant, and Executive’s heirs, legal representatives
or administrators will be entitled to receive payment for Executive’s Base Salary and accrued but unused vacation time through
the date of death and the other benefits, rights and/or payments prescribed under any employee welfare or benefit plans in which
Executive was participating at the time of his death in accordance with the terms and conditions of such plans.

 

b. Disability. 
In the event that Executive is unable fully to perform his duties and responsibilities hereunder by reason of his Disability, this
Agreement may be terminated by Executive or the Company with written notice that, in the opinion of the party providing notice,
a Disability (as defined herein) exists as of the date of notice and such party intends to terminate this Agreement for Disability
reasons within fifteen (15) days from the date of notice. Any such Disability termination by Executive shall be accompanied by
a written statement from a qualified licensed physician that Executive’s health has become impaired to an extent that makes
the continued performance of his duties hereunder, with or without reasonable accommodation, hazardous to his physical or mental
health or his life. In the event of any dispute as to whether a qualified Disability exists under this Paragraph 13, Executive
shall submit to a physical examination by a licensed physician selected by Company and reasonably acceptable to Executive. Executive
shall continue to be compensated as provided in this Agreement through the date of written notice and for fifteen (15) days after
the date of written notice. If this Agreement is terminated for Disability, then Executive shall be paid a special benefit of his
regular Base Salary for the twelve-month period after termination. In addition, all unvested stock options, restricted stock and
restricted stock units owned by Executive as of the Disability termination date shall immediately vest, and Executive will be entitled
to receive payment for Executive’s Base Salary and accrued but unused vacation time through the effective date of termination
and the other the benefits, rights and/or payments prescribed under any employee welfare or benefit plan in which Executive was
participating at the time of such Disability in accordance with the terms and conditions of such plans.

 

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14. Reasonableness
of Restrictions. Executive agrees that (a) the covenants contained in Paragraphs 5, 6 and 7 hereof and the Non-solicitation
and Noncompetition Covenants in Paragraph 8 hereof are necessary for the protection of Company’s business goodwill and trade
secrets, and (b) a portion of the compensation paid to Executive under this Agreement and any Severance Compensation is paid in
consideration of the covenants herein contained, the sufficiency of which consideration is hereby acknowledged. If the scope of
any restriction contained in Paragraphs 5, 6 and 7 hereof and the Non-solicitation and Noncompetition Covenants in Paragraph 8
hereof is too broad to permit enforcement of such restriction to its full extent, then such restriction shall be enforced to the
maximum permitted by law, and the parties hereby consent that such scope may be judicially modified accordingly in any proceeding
brought to enforce such restriction.

 

15. Enforcement.
Executive acknowledges that his employment with Company is special and unique in character and that Executive will acquire special
skill and training and gain special knowledge during Executive’s employment with Company; that the restrictions contained
in Paragraphs 5, 6 and 7 hereof and the Non-solicitation and Noncompetition Covenants referred to in Paragraph 8 hereof are reasonable
and necessary to protect the legitimate interests of Company and its subsidiaries and affiliates; that Company would not have entered
into this Agreement in the absence of such restrictions; and that any violation of any provision of those Paragraphs is likely
to result in immediate and irreparable injury to Company. Executive also acknowledges that Company shall be entitled to preliminary
and permanent injunctive relief and restraining orders, without the necessity of proving actual damages, as well as an equitable
accounting of all earnings, profits and other benefits arising from any such violation, which rights shall be cumulative and in
addition to any other rights or remedies to which Company may be entitled. The existence of any claim or cause of action of Executive
against Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by Company
of these covenants.

 

16. Copy of Covenants.
Until the expiration of the applicable restrictions, Executive will provide, and Company similarly may provide, a copy of the covenants
contained in Paragraphs 5, 6 and 7 hereof and the Non-solicitation and Noncompetition Covenants in Paragraph 8 hereof to any business
or enterprise which Executive may (i) directly or indirectly own, manage, operate, finance, join, control or participate in the
ownership, management operation, financing, or control of, (ii) serve as an officer, director, employee, partner, principal, agent,
representative, consultant, lender or otherwise, or (iii) with which he may use or permit his name to be used.

 

    11

     

    

 

17. Cooperation.
Upon termination of Executive’s employment for any reason, other than for Death, Disability or a Termination for Cause, Executive
shall fully cooperate with and assist Company in the transition of all significant areas of Executive’s responsibility for
the conduct of Company’s business to the officers and employees of Company who have been assigned by Company to assume such
duties. In this regard, and without limiting Executive’s obligation to assist with the transition, Executive shall within
one (1) week of the effective date of his termination, deliver a transition memorandum to Company setting forth in reasonable detail,
all material open matters with respect to which Executive has been devoting his attention including the status of such matters,
the anticipated timeline for completion of such uncompleted matters, key persons within and outside of the Company who are involved
in such matters and their respective roles, and any other information reasonably necessary or appropriate in order to effect the
transition of responsibility for such matters from Executive to the persons to whom they have been reassigned including copies
of pertinent background correspondence and documents in Executive’s possession. Following termination of employment, Executive
shall have no further responsibility for the advancement or resolution of any open matters, but shall make himself reasonably available
by telephone or timely email correspondence for up to sixty (60) days following the termination of employment to respond to questions
about the facts and circumstances surrounding and applicable to the open matters. Failure to fully comply with this Paragraph shall
be grounds for withholding post-termination Severance Payments and any benefits due to Executive, but only if Executive is given
written notice that the Board believes that he is not fully cooperating, which notice states the reasons therefore, and after Executive
is given fifteen (15) days to cure such alleged non-cooperation. If such alleged non-cooperation is ultimately cured, then any
post-termination Severance Payments or benefits which may have been withheld shall be promptly resumed including all back payments.

 

18. Breach of this
Agreement by the Company. If termination of Executive’s employment arises out of Company’s failure to pay Executive
on a timely basis the amounts to which he is entitled under this Agreement or as a result of any other breach of this Agreement
by Company, as determined by a court of competent jurisdiction or pursuant to the provisions of Paragraph 30 below, the Company
shall pay all amounts and damages to which Executive may be entitled as a result of such breach, including interest thereon and
all reasonable legal fees and expenses and other costs incurred by Executive to enforce his rights hereunder. Further, the Non-solicitation
Covenant and the Noncompetition Covenant in Paragraph 8. hereof shall not apply in the event this Agreement is terminated as a
result of a breach by the Company during the Term of this Agreement.

 

19. Deferred Compensation.

 

a. This Agreement shall
be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner
that is either exempt from or compliant with the requirements of Section 409A of the Code and applicable Internal Revenue Service
guidance and Treasury Regulations issued thereunder (and any applicable transition relief under Section 409A of the Code).

 

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b. Notwithstanding
anything in this Agreement to the contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred
compensation” for purposes of Section 409A of the Code would otherwise be payable or distributable hereunder by reason of
Executive’s termination of employment, such amount or benefit will not be payable or distributable to Executive by reason
of such circumstance unless (i) the circumstances giving rise to such termination of employment meet any description or definition
of "separation from service" in Section 409A of the Code and applicable regulations (without giving effect to any elective
provisions that may be available under such definitions), or (ii) the payment or distribution of such amount or benefit would be
exempt from the application of Section 409A of the Code by reason of the short-term deferral exemption or otherwise. If this provision
prevents the payment or distribution of any amount or benefit, such payment or distribution shall be made on the date, if any,
on which an event occurs that constitutes a Section 409A-compliant “separation from service,” or such later date as
may be required by the following paragraph.

 

c. If any amount or
benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code would otherwise
be payable or distributable under this Agreement by reason of Executive’s separation from service during a period in which
Executive is a “specified employee” (as defined in Section 409A of the Code and applicable regulations), then payment
or commencement of such non-exempt amounts or benefits shall be delayed until the earlier of (i) thirty (30) days following Executive’s
death or (ii) the first day of the seventh month following Executive’s separation from service.

 

d. The provisions of
this Section shall survive the termination of this Agreement.

 

20. Prohibition
Against Assignment by Executive. Executive shall not assign, transfer, pledge or encumber any interest in this Agreement or
any part thereof without the express written consent of Company, this Agreement being personal to Executive. This Agreement shall,
however, inure to the benefit of Executive’s estate, dependents, beneficiaries and legal representatives in the event of
Executive’s death or incapacity as set forth in Paragraph 13. Subject to the terms of this Agreement, Company may merge or
consolidate with or into, or transfer substantially all of its assets to, another corporation or other form of business organization
and, as a result of such merger, consolidation or transfer, this Agreement shall bind the successor of Company resulting from such
merger, consolidation or transfer, provide that the successor of Company’s business to assume and agrees in writing prior
to the closing of the merger, consolidation or transfer to perform all of the Company’s obligations hereunder. No such merger,
consolidation or transfer, however, shall relieve the parties from liability and responsibility for the performance of their respective
duties and obligations hereunder.

 

21. Notice.
Any and all notices. designations, consents, offers, acceptances or any other communication provided for herein shall be given
in writing by registered or certified mail, return receipt requested, which shall be addressed, in the case of the Company, to
its office in Livermore, California, and in Executive’s case to his last known place of residence as reflected on the Company’s
records.

 

22. Entire Agreement.
This Agreement, together with any stock option, restricted stock or restricted stock unit agreements between Executive and the
Company constitute the entire agreement between Executive and the Company and contain all of the agreements between the parties
with respect to the subject matter hereof, and this Agreement supersedes any and all other agreements, either oral or in writing,
between the parties with respect to the subject matter hereof.

 

23. Binding Effect.
This Agreement shall be binding upon and inure to the benefit of Executive and the Company and their respective heirs, legal representatives,
executors, administrators, and successors, subject only to limitations or restrictions as specifically set forth hereon.

 

24. No Other Agreements.
Executive hereby represents that he is not a party to any agreement which would be an impediment to entering into this Agreement
or preclude him from entering into this Agreement, and he affirms that he has no agreement with any other party that would preclude
his compliance with any of his obligations under this Agreement.

 

    13

     

    

 

25. Amendment of
Agreement. No change, modification or waiver of any provision of this Agreement shall be valid unless the same is in writing
and signed by Executive and an authorized designated representative of the Board.

 

26. Severability.
Each provision of this Agreement constitutes a separate and distinct undertaking, covenant and/or provision hereof. In the event
that any provision of this Agreement shall finally be determined to be unlawful, such provision shall be deemed severed from this
Agreement, but every other provision of this Agreement shall remain in full force and effect, and in substitution for any such
provision held unlawful, there shall be substituted a provision of similar import reflecting the original intent of the parties
hereto to the extent permissible under law.

 

27. Headings.
The headings of this Agreement are inserted for convenience only and are not to be considered in construction of the provisions
hereof.

 

28. Waiver or Breach.
The waiver by either of the parties hereto of any breach of any provision hereof shall not be construed to be a waiver of any succeeding
breach of that provision or a waiver of any other provision of this Agreement.

 

29. Governing Law.
This Agreement shall be subject to and governed by the laws of the State of California.

 

30. Arbitration
of Disputes. Any dispute arising under this Agreement shall be resolved through final and binding arbitration administered
by JAMS pursuant to its Employment Arbitration Rules & Procedures and subject to JAMS Policy on Employment Arbitration Minimum
Standards of Procedural Fairness. This shall be in lieu of any right to a jury trial, which right is expressly waived. The arbitrator(s)
shall not have the authority to add to, detract from, or modify any provision hereof nor to award punitive damages to any injured
party. The arbitrator(s) shall have the authority to order back-pay, severance compensation, and vesting of stock options, restricted
stock or restricted stock units (or cash compensation in lieu of such vesting) if they determine that Executive is so entitled
under the applicable provisions of this Agreement. The arbitrator(s) shall have the authority to order reimbursement by Executive
of any compensation or benefits that he received under this Agreement if they determine that such compensation or benefits should
not have been paid by Company under the applicable provisions of this Agreement, and they may order payment of actual or imputed
damages incurred by Company for a breach under Paragraphs 5, 6, 7 or 8 of this Agreement. The direct out-of-pocket costs of arbitration
proceedings (for example, arbitrators’ fees, stenographer, rental of a venue for the proceedings, etc.) shall be borne by
the plaintiff bringing the action, but the arbitrator(s) may award an allocation or reimbursement of costs, including those incurred
to enforce this Agreement and legal fees, and interest on any damages and costs awarded. Judgment may be entered on the arbitrators’
award in any court having jurisdiction. Any such arbitration proceeding shall be conducted in San Francisco, California.

 

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In witness whereof,
the parties have executed this Agreement as of the date first above written.

 

	F5 Finishes, Inc.	 	 
	 	 	 	 
	By: 	                             	 	 
	 	 	 	Mark H. Wilson
	Its:	 	 	 

 

[Signature
page to Executive Employment Agreement.]

 

 

15Exhibit 10.17

 

[Participant Name]

RSA

 

Restricted Stock Award

 

(F5 Finishes, Inc. 2019 Incentive Stock
Plan)  

 

Subject to the following terms, F5 Finishes,
Inc., a Delaware corporation (the Company), grants to the following employee of the Company (Grantee), as of the
following grant date (the Grant Date), the following number of restricted shares (the Restricted Shares), which will
become vested in accordance with the following vesting schedule, subject to expiration prior to vesting in accordance with the
terms of this Award:

 

	Grantee:	 	 
	Grant Date:	 	 
	Number of Restricted Shares:	 	 
	Vesting Schedule:	 	 
	 	 	 

 

Terms of Award

 

1. Plan
and Grant of Restricted Shares

 

This Award has been granted under F5
Finishes, Inc. 2019 Incentive Stock Plan (the Plan), which is incorporated in this Award by reference. Capitalized
terms used in this Award without being defined (for example, the term “Committee”) have the same meanings that they
have in the Plan. Each Restricted Share will remain restricted and subject to cancellation and return to the Plan in accordance
with Section 4.4 of the Plan, unless and until that Restricted Share has vested in the Employee in accordance with all of the terms
and conditions of this Award and the Plan.

 

2. Vesting

 

Any unvested portion of the Restricted Shares
shall lapse and be cancelled on Grantee’s Termination Date unless Grantee’s Termination occurs by reason of his or
her death, in which case the Restricted Shares shall become fully vested as of Grantee’s Termination Date.

 

Unless this Award or an individual severance
or employment agreement to which Grantee is a party provides otherwise, the provisions of Article 7 of the Plan with respect to
a Change of Control shall be applicable to this Award.

 

     

     

    

 

Unless this Award or an individual severance
or employment agreement to which Grantee is a party provides otherwise, the provisions of Article 7 of the Plan with respect to
a Change of Control shall be applicable to this Award.

 

3. Book-Entry
Registration and Notation of Restrictions

 

As soon as practicable following the Award,
the Restricted Shares shall be registered in Grantee’s name in book-entry form in the records of the Company’s transfer
agent. Each book entry evidencing Restricted Shares shall reflect that such shares are subject to the restrictions of the Award
and the Plan. At any time, the Company may require Grantee to execute and return to the Company an instruction letter providing
for the transfer to the Company, without further action, of all or any portion of the Restricted Shares that are or may become
forfeited in accordance with the Award (but such letter shall not be regarded as a condition to the transfer of Restricted Shares
from Grantee to the Company upon such forfeiture). Upon vesting of any portion of the Restricted Shares and satisfaction of any
other conditions required by the Plan or this Award, the Company shall remove the notations on the book entry registrations with
respect to those shares and, upon Grantee’s request, shall electronically deliver such shares to a brokerage account designated
by Grantee.

 

4. Stockholder
Rights 

 

Except as otherwise provided in this Award,
Grantee shall have, with respect to all of the Restricted Shares, whether vested or unvested, all of the rights of a holder of
shares of common stock of the Company, including without limitation (i) the right to vote such Restricted Shares, (ii) the right
to receive dividends, if any, as may be declared on the Restricted Shares from time to time, and (iii) the rights available to
all holders of shares of common stock of the Company upon any merger, consolidation, reorganization, liquidation or dissolution,
stock split-up, stock dividend or recapitalization undertaken by the Company; provided, however, that all of such rights shall
be subject to the terms, provisions, conditions and restrictions set forth in this Agreement (including without limitation conditions
under which all such rights shall be forfeited). With respect to the right to dividends, Grantee shall be entitled to dividends
or other distributions paid or made on Common Stock but only as and when the Restricted Shares to which the dividends or other
distributions are attributable become vested. Dividends paid on unvested Restricted Shares will be held by the Company and transferred
to the Grantee, without interest, on such date as the Restricted Shares become vested. Dividends or other distributions paid on
unvested Restricted Shares that are forfeited shall be retained by the Company.

 

5. Tax
Liability

 

Grantee is hereby advised to confer promptly
with a professional tax advisor to consider whether to make an election under section 83(b) of the Code to be taxed as of the Grant
Date of the Restricted Shares, rather than as the Restricted Shares become vested. Any such election must be made in accordance
with applicable regulations and within thirty (30) days following the Grant Date. The Participant shall notify the Company of any
such election as soon as practicable and in no event later than thirty (30) days after making such election and shall provide the
Company with a copy of such election. The Company makes no recommendation to the Participant with respect to the advisability of
making such an election, and the timely filing of a section 83(b) election is Grantee’s sole responsibility.

 

     2

     

    

 

The Company shall have the right, upon the
vesting of any Restricted Shares (or upon the grant, if Grantee has made a timely election under section 83 (b) of the Code,) to
deduct or withhold, or require Grantee to remit to the Company, an amount sufficient to satisfy the federal, state, local and other
taxes (including Grantee’s FICA obligation) that the Company is required to withhold by reason of such vesting.

 

6. Confidentiality
and Nonsolicitation Agreement – Not Applicable if Grantee is an Outside Director 

 

This Award and the grant of the Restricted
Shares are subject to Grantee’s (i) entering into the confidentiality and nonsolicitation agreement which has been provided
to Grantee if Grantee has not previously entered into such agreement in connection with Grantee’s receipt of an Award under
the Plan (the Nonsolicitation Agreement) or (ii) Grantee’s reaffirmation of the Nonsolicitation Agreement that Grantee
previously entered into in connection with Grantee’s receipt of an Award under the Plan.  The Company would not have
granted the Award to Grantee without Grantee’s entering into or reaffirming the Nonsolicitation Agreement.

 

7. Transferability

 

Any unvested portion of the Restricted Shares
may not be sold, transferred, assigned or pledged (whether by operation of law or otherwise), except as provided by will or the
applicable intestacy laws, and shall not be subject to execution, attachment or similar process. Once vested, any sale, transfer,
assignment or pledge of the Restricted Shares is subject to the restrictions on transfer imposed by any applicable state and federal
securities laws.

 

8. Interpretation

 

This Award is subject to the terms of the
Plan, as the Plan may be amended (but except as required by applicable law, no amendment of the Plan after the Grant Date shall
adversely affect Grantee’s rights in respect of the Award without Grantee’s consent).

 

If there is a conflict or inconsistency
between this Agreement and the Plan, the terms of the Plan shall control. The Committee’s interpretation of this Agreement
and the Plan shall be final and binding.

 

9. No
Right to Continued Employment

 

Nothing in this Award shall be considered
to confer on Grantee any right to continue in the employ of the Company or a Subsidiary or to limit the right of the Company or
a Subsidiary to terminate Grantee’s employment.

 

10. Governing
Law

 

This Award shall be governed in accordance
with the laws of the State of Delaware.

 

     3

     

    

 

11. Recovery
of Compensation

 

This Award is subject to the requirements
of (i) Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (regarding recovery of erroneously awarded
compensation) and any implementing rules and regulations thereunder, (ii) any policies adopted by the Company in accordance with
such rules and regulations or any compensation recovery policy otherwise required by applicable law, and (iii) any clawback policy,
as in effect from time to time, adopted by the Company, all to the extent determined by the Committee to be applicable to Grantee.
In addition, if Grantee receives any amount in excess of what Grantee should have received under the terms of this Award for any
reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error),
then Grantee shall be required to repay any such excess amount to the Company.

 

12. Binding
Effect

 

This Award shall be binding on the Company
and Grantee and on Grantee’s heirs, legatees and legal representatives.

 

13. Effective
Date

 

This Award shall not become effective until
Grantee’s acceptance of this Award and the acceptance or reaffirmation of the Nonsolicitation Agreement. Upon Grantee’s
acceptance of this Award and the acceptance or reaffirmation of the Nonsolicitation Agreement, this Award shall become effective,
retroactive to the Grant Date, without the necessity of further action by either the Company or Grantee. Notwithstanding the foregoing,
the effectiveness of the Award is not conditional on the acceptance or reaffirmation of the Nonsolicitation Agreement if Grantee
is an Outside Director.

 

[Signature page follows]

 

     4

     

    

 

	 	F5 Finishes, Inc.
	 	 	 
	 	By	
	 	 	Michael Patton
	 	 	President
        & Chief Executive Officer

  

Acceptance by Grantee

 

I accept this Restricted Shares Award and
agree to be bound by all of its terms. I acknowledge receipt of a copy of the Plan, and, unless I am an Outside Director, I (i)
agree to enter into the Nonsolicitation Agreement, a copy of which I acknowledge receipt, if I have not previously entered into
such agreement in connection with the receipt of an Award under the Plan or (ii) reaffirm the Nonsolicitation Agreement that I
have previously entered into in connection with the receipt of an Award under the Plan.

 

	 	 
	 	[signature of Grantee]
	 	 
	 	Grantee’s address:
	 	 
	 	 
	 	 

 

 

5

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