Document:

Exhibit 10.4

 

Employment
Agreement

 

This EMPLOYMENT AGREEMENT
(the "Agreement') is entered into as of November 23, 2021, by and between Pish Posh Baby LLC, a Delaware limited liability
company (the '‘Company”), and Chaim Birnbaum (“Executive”).

 

WHEREAS, the Company
recognizes that the Executive has had and is expected to continue to have a critical and essential role in guiding the Company
and in developing the Company’s business;

 

WHEREAS, the Executive
is expected to make major contributions to the stability, growth and financial strength of the Company;

 

WHEREAS, the Company
has determined that appropriate arrangements should be taken to encourage the continued attention and dedication of the Executive
to his assigned duties without distraction;

 

WHEREAS, in consideration
of the Executive’s employment with the Company, the Company desires to provide the Executive with certain compensation and
benefits as set forth in this Agreement;

 

WHEREAS, as of the
date of this Agreement, the Company wishes to continue Executive’s service as a Chief Operating Officer under the terms
of an employment agreement on the terms set forth herein, which shall supersede all previous agreements regarding Executive’s
employment by the Company; and

 

WHEREAS, the Executive
desires to be employed by the Company on the terms contained in this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:

 

		1.	Position and Duties.

 

(a)       The
Executive shall serve as the Chief Operating Officer (“COO”) of the Company reporting to the Company’s manager
and upon any change of corporate form to a corporation to the Board of Directors (the “Board” Prior to any
change in corporate form, the manager of the Company shall be deemed the Board for the purposes of this Agreement). The Executive
shall primarily work out of the Company main office.

 

(b)       The
Company agrees to propose to the shareholders of the Company at each appropriate meeting of such shareholders during the Term
and any Renewal Term, the election and reelection of the Executive as a member of the Board. Provided the Executive is elected
by the shareholders to the Board, the Executive shall be appointed Chairman of the Board. In addition, without further compensation,
the Executive shall serve as a director or officer of one or more of the Company’s subsidiaries or affiliates if so elected
or appointed from time to time.

 

    	 		 

     

    

 

(c)       The
Executive shall have such duties, authority and responsibilities as are consistent with the role of COO and as may be set
forth in the governing documents of the Company. For purposes of the applicability of the Company compensation plans to the Executive,
Executive shall be considered an "employee.” Executive shall devote a substantial amount of his business time to the
performance of his duties hereunder, but such requirement shall not prevent Executive from (i) serving as a member of the board
of directors of unaffiliated companies, (ii) serving on civic, charitable, educational, religious, public interest or public service
boards, (iii) managing the Executive’s personal and family investments, and (iv) engaging in or having an ownership interest
in other businesses. In addition, the Executive has disclosed, in writing, to the Company his involvement in entities and investments
other than the Company (collectively, the “Outside Activities”). The Company shall permit the Executive to
continue to engage in the Outside Activities provided that the Executive agrees to disclose to the Board, in writing, any actual
or potential conflict of interest arising out of any such Outside Activity and no such Outside Activity materially interferes
with Executive’s ability to perform his responsibilities hereunder.

 

2.             Term.
This Agreement and Executive’s employment hereunder shallbe foran initial term of three (3) calendar years commencing
on the date hereof (the “Effective Date”) and ending on December 31, 2023 (the “Expiration Date”),
unless terminated earlier by the Company or the Executive pursuant to Section 4 of this Agreement (the “Term").
Thereafter, this Agreement be subject to renewal pursuant to the mutual agreement of the parties. In the event of renewal, the
last day of each Renewal Term shall be deemed the new Expiration Date.

 

		3.	Compensation and Related Matters.

 

(a)       Base
Salary. The Executive’s annual base salary shall be $200,000 for 2021, $225,000 for 2022, and $250,000 for 2023, less
applicable withholdings (the “Base Salary”). The Base Salary shall be payable in accordance with the Company’s
normal payroll procedures in effect from time to time. The Base Salary shall be prorated for partial years

 

(b)       Annual
Bonus. For each year, the Executive shall receive a cash bonus in the amount of to be determined by the Board based on the
Company’s performance.

 

(c)       Long
Term Incentive Plan. The Executive shall be entitled toparticipate in all bonus or other compensation programs adopted
by theCompanyand applicable generally to senior executives of the Company.

 

(d)      Equity
Incentive Plan. The Executive shall be awarded shares of common stock of the Company, subject to vesting conditions, as determined
by the Board. Additionally, the Executive shall be entitled to participate in any and all plans providing for awards of equity
or instruments convertible into equity adopted by the Company and applicable generally to other senior executives of the Company.

 

(e)       Business
Expenses. The Company shall promptly reimburse the Executive for all reasonable and necessary business-related expenses incurred
in connection with the performance of the Executive’s duties hereunder in accordance with the policies and procedures then
in effect and established by the Company for its senior executive officers, provided that the Executive furnishes the Company
with all supporting information and documentation relevant to such expenses as the Company may reasonably request.

 

(f)       Health
Insurance. Executive shall be entitled to participate in any Company health insurance plan on the same terms and conditions
as other Company senior executives are permitted to participate.

 

(g)      Life
Insurance. To the extent practicable, the Company shall, during the Term, pay the premiums of a life insurance policy, providing
coverage in the amount of $1,000,000, payable to a beneficiary chosen by Executive, which insures the life of Executive. Executive
shall provide all information and cooperation reasonably necessary to obtain such life insurance policy.

 

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(h)      Automobile
Allowance. During the Term, Executive shall receive a monthly automobile allowance in the amount of $700.00 per month for
automobile-related expenses.

 

(i)        Retirement
Plans. The Company shall make contribution to the Executive’s retirement plans (e.g. IRA or 401(k)) of up to $[RC] per
year.

 

(j)       Other
Benefits. The Executive shall be entitled to participate in all pension, savings and retirement plans, welfare and insurance
plans, practices, policies, programs and perquisites of employment applicable generally to other senior executives of the Company.

 

(k)       Withholding.
All amounts payable to the Executive under this Section 3 shall be subject to all required federal, state and local withholding,
payroll and insurance taxes and requirements.

 

		3.	Termination.

 

(a)       Death.
The Executive’s employment hereunder shall terminate upon his death.

 

(b)       Disability.
The Company may terminate the Executive’s employment if the Executive becomes subject to a Disability. For purposes of this
Agreement, “Disability” means the Executive is unable to perform the essential functions of his position as
CEO, with or without a reasonable accommodation, for a period of 120 consecutive days or 180 days during any rolling consecutive
12 month period.

 

(c)       Termination
by Company for Cause. The Company may terminate the Executive’s employment for Cause. For purposes of this Agreement,
“Cause” means the Executive’s: (i)willful
misconduct, gross negligence, fraud, embezzlement or other material dishonesty with respect to the affairs of the Company or any
of its affiliates; (ii) material failure to meet minimum performance expectations of the Board; (iii) conviction, plea of nolo
contendere, guilty plea, or confession to either a felony or any lesser crime relating to the affairs of the Company or any
of its affiliates or of which fraud, embezzlement, or moral turpitude is a material element; or (iv) a material breach of this
Agreement or a breach of a fiduciary duty owed to the Company, provided that any such breach, if curable, shall not constitute
Cause unless the Company has provided the Executive with (x) written notice of the acts or omissions giving rise to a termination
of his employment for Cause; (y) the opportunity to correct the act or omission within 30 days after receiving the Company’s
notice (the “Cure Period’"); and (z) an opportunity to be heard before the Board with the Executive’s
counsel present prior to the expiration of the Cure Period.

 

(d)       Termination
by the Company without Cause. The Company may not terminate the Executive’s employment during any Term or Renewal Term
without Cause.

 

(e)       Termination
by the Executive. The Executive may terminate his employment at any time for any reason other than a Good Reason, upon 30
days prior written notice.

 

(f)        Termination
by the Executive for Good Reason. The Executive may terminate his employment for Good Reason by providing written notice.
For purposes of this Agreement, “Good Reason” means: (i) a material reduction in the Executive’s Base
Salary; or (ii) the Company’s material breach of this Agreement; provided that Good Reason based on a material breach shall
exist only if within 90 days of the Company’s act or omission resulting in a material breach, the Executive notifies the
Company in a writing of the act or omission, the Company fails to correct the act or omission within 30 days after receiving the
Executive’s written notice and the Executive actually terminates his employment within the 30 days following the end of
such 30-day cure period.

 

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(g)      Expiration.
Executive’s employment shall terminate on the Expiration Date.

 

(h)      Termination
Date. The “Termination Date” means:(i) if the Executive’s employment is terminated by his death
under Section 4(a), the date of his death; (ii) if the Executive’s employment is terminated on account of his Disability
under Section 4(b), the date on which the Company provides the Executive a written termination notice; (iii) if the Company terminates
the Executive’s employment for Cause under Section 4(c). the date on which the Company provides the Executive a written
termination notice, unless the circumstances giving rise to the termination are subject to the Cure Period, in which case the
date on which the Company provides the Executive a written termination notice following the end of the Cure Period; (iv) if, despite
the restriction against doing so under Section 4(d), the Company terminates the Executive’s employment without Cause under
Section 4(d), 90 days after the date on which the Company provides the Executive a written termination notice; (v) if the Executive
resigns his employment without Good Reason under Section 4(e), 30 days after the date on which the Executive provides the Company
a written termination notice; (vii) if the Executive resigns his employment with Good Reason under Section 4(f), the date on which
the Executive provides the Company a timely written termination notice, except the Termination Date shall be the last day of the
relevant 30-day cure period, if applicable; and (viii) the Expiration Date if the Executive’s employment terminates under
Section 4(g).

 

		5.	Compensation upon Termination.

 

(a)       Termination
by the Company for Cause or by the Executive without Good Reason. If the Executive’s employment with the Company is
terminated pursuant to Section 4(c) or 4(e), the Company shall pay or provide to the Executive the following amounts through the
applicable Termination Date: any earned but unpaid Base Salary, unpaid expense reimbursements, and any earned but unpaid Annual
Bonus (the “Accrued Obligations”) on or before the time required by law but in no event more than 30 days after
the Executive’s Termination Date.

 

(b)      Death.
If the Executive’s employment with the Company is terminated pursuant to Section 4(a), then the Executive (or his authorized
representative or estate) shall be entitled to the following:

 

(i)       the
Accrued Obligations earned through the applicable Termination Date (payable on or before the time required by law but in no event
more than 30 days after the applicable Termination Date);

 

(ii)       a
pro-rata portion of the Executive’s Annual Bonus, if any, for the fiscal year in which the Executive’s termination
occurs (determined by multiplying the amount of such bonus which would be due for the full fiscal year by a fraction, the numerator
of which is the number of days during the fiscal year of termination that the Executive is employed by the Company and the denominator
of which is 365) payable at the same time bonuses for such year are paid to other senior executives of the Company;

 

(iii)       vest
the Executive on the applicable Termination Date for any and all previously granted outstanding equity-incentive awards subject
to time-based vesting criteria as if the Executive continued to provide services to the Company for 12 months following the applicable
Termination Date;

 

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(iv)       Subject
to the Executive’s or, in the event of his death, his eligible dependents’ timely election of continuation coverage
under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (‘‘COBRA’'), the Company
shall reimburse the Executive or his eligible dependents the monthly premium payable to continue his and his eligible dependents’
participation in the Company’s group health plan (to the extent permitted under applicable law and the terms of such plan)
which covers the Executive (and the Executive’s eligible dependents) for a period of eighteen (18) months, provided
that the Executive is eligible and remains eligible for COBRA coverage; and provided, further, that in the event
that the Executive obtains other employment that offers group health benefits, such continuation of coverage by the Company shall
immediately cease. If the reimbursement of any COBRA premiums would violate the nondiscrimination rules or cause the reimbursement
of claims to be taxable under the Patient Protection and Affordable Care Act of 2010, together with the Health Care and Education
Reconciliation Act of 2010 (collectively, the “Act”) or Section 105(h) of the Internal Revenue Code (the “Code”),
the Company paid premiums shall be treated as taxable payments and be subject to imputed income tax treatment to the extent necessary
to eliminate any discriminatory treatment or taxation under the Act or Section 105(h) of the Code; and

 

(v)       in
the case of a termination due to Disability, in addition to the aforementioned awards, continuation of the Base Salary in effect
on the Termination Date until the earlier of (A) the 12 month anniversary of the Termination Date, and (B) the date Executive
is eligible to commence receiving payments under the Company’s long-term disability policy. If the net compensation from
the Base Salary is greater than the net compensation from the long-term disability policy, the Company, through the 12 month anniversary
of the Termination Date will compensate the Executive’s estate the difference in net compensation.

 

(c)       Termination
by Disability; by the Company without Cause, by the Executive with Good Reason, or Expiration. If the Executive’s employment
is terminated by the Company in breach of Section 4(b). 4(d), 4(0, or 4(g) then the Executive shall be entitled to the following:

 

(i)       the
Accrued Obligations earned through the Termination Date (payable on or before the time required by law but in no event more than
30 days after the applicable Termination);

 

(ii)       severance
in a single lump sum installment in amount equal to the Base Salary at the rate in effect on the Termination Date (“Severance”).
The Severance is payable in twelve installment on the first of the month for each month following the Termination Date;

 

(iii)       the
Executive shall retain all the benefits in Sections 3(f), 3(g), 3(h), and 3(j), for one year after the Termination Date;

 

(iv)       full
vesting of the Executive in any and all outstanding previously granted equity-based incentive awards subject to time-based vesting
criteria; and

 

(v)       subject
to the Executive’s timely election of continuation coverage under COBRA, reimbursement by the Company of the monthly premium
payable to continue the Executive’s and his eligible dependents’ participation in the Company’s group health
plan (to the extent permitted under applicable law and the terms of such plan) which covers the Executive (and the Executive’s
eligible dependents) for a period of 18 months, provided that the Executive is eligible and remains eligible for COBRA
coverage; and provided, further, that in the event that the Executive obtains other employment that offers group
health benefits, such continuation of coverage by the Company shall immediately cease. If the reimbursement of any COBRA premiums
would violate the nondiscrimination rules or cause the reimbursement of claims to be taxable under the Act or Section 105(h) of
the Code, the Company paid premiums shall be treated as taxable payments and be subject to imputed income tax treatment to the
extent necessary to eliminate any discriminatory treatment or taxation under the Act or Section 105(h) of the Code.

 

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		6.	Section 409A Compliance.

 

(a)       All
in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred
by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year
in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year
shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such
right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

 

(b)       To
the extent that any of the payments or benefits provided for in Section 5(b), (c)
or (d) are deemed to constitute non-qualified deferred compensation benefits subject to Section 409A of the United States
Internal Revenue Code (the ‘‘Code”), the following interpretations apply to Section 5:

 

(i)        Any
termination of the Executive’s employment triggering payment of benefits under Section 5(b), (c) or (d) must constitute
a “separation from service” under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-l (h) before distribution
of such benefits can commence. To the extent that the termination of the Executive’s employment does not constitute
a separation of service under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. § 1.409A-1 (h) (as the result of further
services that are reasonably anticipated to be provided by the Executive to the Company or any of its parents, subsidiaries or
affiliates at the time the Executive’s employment terminates), any benefits payable under Section 5(b), (c) or (d) that
constitute deferred compensation under Section 409A of the Code shall be delayed until after the date of a subsequent event constituting
a separation of service under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. § 1.409A-l (h). For purposes of clarification,
this Section 6(b)(i) shall not cause any forfeiture of benefits on the Executive’s part, but shall only act as a delay until
such time as a “separation from service” occurs.

 

(ii)       If
the Executive is a “specified employee” (as that term is used in Section 409A of the Code and regulations and other
guidance issued thereunder) on the date his separation from service becomes effective, any benefits payable under Section 5(b),
(c) or (d) that constitute non-qualified deferred compensation under Section 409A of the Code shall be delayed until the earlier
of (A) the business day following the six-month anniversary of the date his separation from service becomes effective, and (B)
the date of the Executive’s death, but only to the extent necessary to avoid such penalties under Section 409A of the Code.
On the earlier of (A) the business day following the six-month anniversary of the date his separation from service becomes effective,
and (B) the Executive’s death, the Company shall pay the Executive in a lump sum the aggregate value of the non-qualified
deferred compensation that the Company otherwise would have paid the Executive prior to that date under Section 5(b), (c) or (d)
of this Agreement.

 

(iii)       It
is intended that each installment of the payments and benefits provided under Section 5(b), (c) or (d) of this Agreement shall
be treated as a separate “payment” for purposes of Section 409A of the Code.

 

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(iv)       Neither
the Company nor the Executive shall have the right to accelerate or defer the delivery of any such payments or benefits except
to the extent specifically permitted or required by Section 409A of the Code.

 

		7.	Excess Parachute Payments.

 

(a)       To
the extent that any payment, benefit or distribution of any type to or for the benefit of the Executive by the Company or any
of its affiliates, whether paid or payable, provided or to be provided, or distributed or distributable pursuant to the terms
of this Agreement or otherwise (including, without limitation, any accelerated vesting of stock options or other equity-based
awards) (collectively, the “Total Payments”) would be subject to the excise tax imposed under Section 4999
of the Internal Revenue Code of 1986. as amended (the “Code”), then the Total Payments shall be reduced (but
not below zero) so that the maximum amount of the Total Payments (after reduction) shall be one dollar ($1.00) less than the amount
which would cause the Total Payments to be subject to the excise tax imposed by Section 4999 of the Code, but only if the Total
Payments so reduced result in the Executive receiving a net after tax amount that exceeds the net after tax amount the Executive
would receive if the Total Payments were not reduced and were instead subject to the excise tax imposed on excess parachute payments
by Section 4999 of the Code. Unless the Executive shall have given prior written notice to the Company to effectuate a reduction
in the Total Payments if such a reduction is required, any such notice consistent with the requirements of Section 409A of the
Code to avoid the imputation of any tax, penalty or interest thereunder, the Company shall reduce or eliminate the Total Payments
by first reducing or eliminating any cash severance benefits (with the payments to be made furthest in the future being reduced
first), then by reducing or eliminating any accelerated vesting of stock options or similar awards, then by reducing or eliminating
any accelerated vesting of restricted stock or similar awards, then by reducing or eliminating any other remaining Total Payments.
The preceding provisions of this Section 7(a) shall take precedence over the provisions of any other plan, arrangement or agreement
governing the Executive’s rights and entitlements to any benefits or compensation.

 

(b)       If
the Total Payments to the Executive are reduced in accordance with Section 7(a), as a result of the uncertainty in the application
of Section 4999 of the Code at the time of the initial reduction under Section 7(a), it is possible that Total Payments to the
Executive which will not have been made by the Company should have been made (“Underpayment”) or that Total
Payments to the Executive which were made should not have been made (“Overpayment”). If an Underpayment has
occurred, the amount of any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. In
the event of an Overpayment, then the Executive shall promptly repay to the Company the amount of any such Overpayment together
with interest on such amount (at the same rate as is applied to determine the present value of payments under Section 280G of
the Code or any successor thereto), from the date the reimbursable payment was received by the Executive to the date the same
is repaid to the Company

 

		8.	Confidentiality and Restrictive
                                         Covenants.

 

(a)       Covenant
Against Disclosure. All Confidential Information (defined below) relating to the Business of the Company and its affiliates
is, shall be and shall remain the sole property and confidential business information of them, free of any rights of the Executive.
The Executive shall not make any use of the Confidential Information except in the performance of his duties hereunder and shall
not disclose any Confidential Information or trade secret to third parties except as required by law, with the limited qualification
that in accordance with the Defend Trade Secrets Act of 2016, an individual shall not be held criminally or civilly liable under
any Federal or State trade secret law for the disclosure of a trade secret that is made either: (1) in confidence to a Federal,
State, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or
investigating a suspected violation of law; or (2) in a complaint or other document filed in a lawsuit or other proceeding, if
such filing is made under seal, “Confidential Information” includes without limitation such documents as business
plans, source code, documentation, financial analysis, marketing plans, customer names, customer lists, customer data, contracts
and other business information, including the information of the Company and its affiliates, existing or prospective customers,
clients, investors or other third parties with whom the Company and its affiliates hereto have relationships or conduct business
that may be disclosed to the Executive as part of the Executive's employment. Notwithstanding anything else set forth herein,
nothing in this Agreement shall be construed to prohibit Executive from reporting, without first notifying the Company or otherwise,
possible violations of law or regulation to any governmental agency or entity.

 

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(b)      Return
of Company Documents. On the Termination Date or on any prior date upon the Company’s written demand, the Executive
will return all Confidential Information in his possession, directly or indirectly, that is in written or other tangible form
(together with all duplicates thereof).

 

(c)       Further
Covenant. During the Term and through the first anniversary of the Termination Date, the Executive shall not, directly or
indirectly, take any of the following actions, and, to the extent the Executive owns, manages, operates, controls, is employed
by or participates in the ownership, management, operation or control of, or is connected in any manner with, any business, the
Executive will use his best efforts to ensure that such business does not take any of the following actions:

 

(i)       persuade
or attempt to persuade any customer of the Company or its affiliates to cease doing business with the Company or its affiliates,
or to reduce the amount of business any customer does with the Company or its affiliates;

 

(ii)       solicit
for himself or any entity the business of a person or entity that was a customer of the Company or its affiliates within the 12
months prior to the termination of the Executive’s employment, in competition with the Company or its affiliates; or

 

(iii)       persuade
or attempt to persuade any employee of the Company or its affiliates to leave the employ of the Company or its affiliates, or
hire or engage, directly or indirectly, any individual who was an employee of the Company or its affiliates within 1 year prior
to the Executive’s Termination Date.

 

9.             No
Disparagement. During the Term and through the second anniversary of the Termination Date, the Executive will not make public
statements or communications that disparage the Company or any of its businesses, services, products, affiliates or current, former
or future directors and executive officers in their capacity as such. During the Term and through the second anniversary of the
Termination Date, the Company will instruct its directors and executives not to make public statements or communications that
disparage the Executive. The foregoing obligations shall not be violated by truthful statements to any governmental agency or
entity, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation,
depositions in connection with such proceedings).

 

		10.	Disputes.

 

(a)       Any
dispute or controversy arising out of or relating to this Agreement or your employment shall be brought solely in the state and
federal courts having jurisdiction over Ocean County, New Jersey.

 

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(b)       BOTH
THE COMPANY AND THE EXECUTIVE HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE FEDERAL
OR STATE LAW.

 

(c)       In
the event of any contest or dispute relating to this Agreement or the termination of Executive’s employment hereunder, the
non-prevailing party in any such contest or dispute shall be liable for the attorneys' fees and costs of the prevailing party.

 

11.           Integration.
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all
prior agreements between the parties concerning such subject matter.

 

12.           Successors.
This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal representatives, executors,
administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after his termination
of employment but prior to the completion by the Company of all payments due him under this Agreement, the Company shall continue
such payments to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate,
if the Executive fails to make such designation). The Company shall require any successor to the Company to expressly assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if
no such succession had taken place.

 

13.           Enforceability.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this
Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of
this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared
illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable
to the fullest extent permitted by law.

 

14.           Survival.
The provisions of this Agreement shall survive the termination of this Agreement or the termination of the Executive’s employment
to the extent necessary to effectuate the terms contained herein.

 

15.           Waiver.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any
party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this
Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

16.           Notices.
Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered
in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return
receipt requested, to the Executive at the last address the Executive has filed in writing with the Company or, in the case of
the Company, at its main offices,

 

	If to Executive:	 	Charlie Birnbaum
	 	 	877-747-4767
	 	 	EmaiI: charlie@pishposhbaby.com
	 	 	 
	If to Company:	 	Pish Posh Baby LLC
	 	 	Attention: Dov Kurlander
	 	 	Email: dov@pishposhbaby.com

 

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17.           Amendment.
This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative
of the Company.

 

18.           Governing
Law. This is a New Jersey contract and shall be construed under and be governed in all respects by the laws of New Jersey
for contracts to be performed in that State and without giving effect to the conflict of laws principles of New Jersey or any
other State.

 

19.           Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to
be an original; but such counterparts shall together constitute one and the same document.

 

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IN WITNESS WHEREOF, the parties have executed
this Agreement effective on the date and year first above written.

 

	 	Pish Posh Baby LLC
	 	 
	 	By:	 
	 	Name:	Dov Kurlander
	 	Title:	CEO
	 	 	 
	 	Chaim Birnbaum
	 	 
	 	/s/ Chaim Birnbaum

 

    	 	11Exhibit 10.5

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT
AGREEMENT (this “Agreement”) is dated as of December [*], 2021 (the “Effective Date”)
and is entered into by and between Jesse Sutton (the “Executive”) and Pish Posh Baby LLC (the “Company”).
The Company and the Executive shall be referred to herein as the “Parties.”

 

RECITALS

 

WHEREAS,
the Company is currently in the process of reincorporating as a corporation and completing a capital raise (the “Recapitalization”)
pursuant to a Securities Purchase Agreement dated November 30, 2020 (the “SPA”). It is further anticipates the
Company will become a publicly traded company (such occurrence a “Going Public Event”);

 

WHEREAS,
upon the Effective Date, the Company desires to employ the Executive as its Chairman of the Board and Chief Executive Officer, and the
Executive desires to be employed by the Company as its Chairman of the Board and Chief Executive Officer effective as of the Effective
Date; and

 

WHEREAS,
the Company and the Executive desire to state in writing the terms and conditions of their agreement and understandings with respect to
the employment of the Executive on and after the Effective Date.

 

NOW, THEREFORE,
in consideration of the mutual promises and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE I.

 

SERVICES
TO BE PROVIDED BY EXECUTIVE

  

A.       Position
and Responsibilities. The Executive shall serve in the position of Chief Executive Officer, and shall perform services for the
Company as requested or as needed to perform the Executive’s job. The duties of the Executive shall be those duties which can reasonably
be expected to be performed by a person in such position. Upon the Recapitalization, the Executive shall also serve as the Chairman of
the Board of Directors of the Company (the “Board”), without any additional compensation, as long as the Executive
continues to serve as its Chief Executive Officer. At all times during the Term (as defined below), the Executive shall report exclusively
to, and be subject to the direction and supervision of, the Board. Prior to the Recapitalization all references to the Board shall apply
to the Manager(s) of the Company

 

B.       Performance.
The Executive’s principal place of employment shall be in Lakewood, NJ. During the Executive’s employment with the Company,
the Executive shall devote such of the Executive’s time, energy, skill and reasonable best efforts as is necessary to the performance
of the Executive’s duties hereunder in a manner that will faithfully and diligently further the business and interests of the Company,
and shall exercise reasonable best efforts to perform the Executive’s duties in a diligent, trustworthy, good faith and business-like
manner, all for the purpose of advancing the business of the Company. It is anticipated that the Executive will devote no more than 20
hours per week to the Company. The Executive shall at all times act in a manner consistent with the Executive’s position.

 

    	 

     

    

  

ARTICLE II.

 

COMPENSATION
FOR SERVICES

  

As compensation
for all services the Executive will perform under this Agreement, the Company will pay the Executive, and the Executive shall accept as
full compensation, the following:

 

A.       Base
Salary. The Company shall pay the Executive a monthly salary of $15,000.00 ($180,000, annually) (“Base Salary”)
for serving as CEO. The Company shall pay the Base Salary in accordance with the normal payroll policies of the Company and subject to
required withholdings. The Executive’s Base Salary will be reviewed by the Board on an annual basis for increase. Additionally,
upon a Going Public Event the Base Salary will be increased to $20,000.00 monthly ($240,000, annually) beginning with the first day of
the month following the Going Public Event.

 

B.       Bonuses.

 

i.       The
Executive may also be eligible to receive annual performance bonuses (each, a “Performance Bonus”), as may be
in effect from time to time in the discretion of the Board, for each year of employment, based on the extent to which performance criteria/financial
results for the applicable year have been met, which Performance Bonuses are expected to be paid on or before March 15th of
the year following the year to which such Performance Bonus relates. Notwithstanding the foregoing, to be eligible to receive the Performance
Bonus for a calendar year, the Executive must remain employed through the payment date of such bonus. All performance/financial criteria
shall be established reasonably and in good faith by the Board, after consultation with the Executive, on an annual basis. The evaluation
of the Company’s performance, as measured by the applicable performance criteria and the awarding of any bonuses shall be determined
reasonably and in good faith by the Board.

 

ii.       The
Executive shall also receive $25,000 bonus upon a Going Public Event, provided Executive is still employed at the time of the Going Public
Event.

 

iii.       Upon
the closing of a capital raise of equity of at least $5,000,000, with a minimum pre-money valuation of the Company of at least $35,000,000
the Executive shall receive a bonus of $100,000 in cash and an equity grant equal to one percent (1%) of the equity of the Company pre
the closing of such capital raise. Such equity will be granted as options, RSUs, other agreements as determined by the Board and the Executive
to reasonably minimize the tax implications of such grant to the Executive.

 

    	 	2	 

     

    

  

C.       Equity
Compensation. As soon as administratively practicable following the Closing Date (as defined in the SPA) (and in all events no
later than thirty (30) days after the Closing Date), the Company shall grant the Executive an award of restricted stock units that represent,
in the aggregate, five percent (5%) of the Company’s issued and outstanding common stock at a $6,000,000 valuation (“Common
Stock”) determined on a fully diluted basis as of the date of grant (the “RSUs”). The RSUs shall
be subject to the terms and conditions of the Company’s employee stock option plan (the “ESOP”) and of
an award agreement that shall provide, among other things, that, (A) one-third (1/3rd) of the RSUs shall vest on January 2,
2023; (B) one-third (1/3rd) of the RSUs shall vest on the later of January 2, 2023 or the Going Public Event, provided, that,
the Executive’s employment with the Company is not terminated by the Company for Cause prior to the Going Public Event, and (C)
one-third (1/3rd) of the RSUs shall vest on the later of January 2, 2023 or the first anniversary of the Going Public Event,
provided, that, the Executive’s employment with the Company is not terminated by the Company for Cause prior to the first anniversary
of the Going Public Event; provided, that, in any case, (D)(1) all unvested RSUs shall immediately vest upon a Change in Control (as defined
in the ESOP); and (2) all vested RSUs shall be converted into shares of Common Stock on the first to occur of the following: (x) a Change
in Control (as defined in the ESOP) and (y) the termination of the Executive’s employment for any reason other than by the Company
for Cause.

 

The Executive shall
be eligible to receive additional equity awards, granted on an annual basis under the ESOP, as the Company may, in its sole discretion,
determine appropriate.

 

D.       Other
Expenses. The Company agrees that, during the Executive’s employment, it will promptly reimburse the Executive for out-of-pocket
expenses reasonably incurred in connection with the Executive’s performance of the Executive’s services hereunder, upon the
presentation by the Executive of an itemized accounting of such expenditures, with supporting receipts, provided that the Executive submits
such expenses for reimbursement in compliance with the Company’s expense reimbursement policies. Reimbursement shall be in compliance
with the Company’s expense reimbursement policies and, if applicable, Article V, Section I(ii).

 

E.       Paid
Time Off. The Executive shall be eligible for four (4) weeks of vacation and five (5) additional days of paid time off in accordance
with the Company’s policy, as in effect from time to time. The Executive may not carry over any accrued vacation or paid time off
from year to year, and no such accrued vacation or paid time off shall be paid to the Executive upon the termination of the Executive’s
employment for any reason, other than as provided in Article III, Section B, below.

 

F.       Indemnification.
The Company agrees to indemnify, defend and hold harmless the Executive to the maximum amount permitted by law against any losses, claims,
damages, liabilities, fines, settlements, judgements and/or expenses (including any legal or other expenses reasonably incurred in investigating
or defending any action or claim in respect thereof) (collectively, “Losses”) related to any Proceeding (as defined below)
to which the Executive may become subject. Specifically, and not in limitation of the foregoing, the Company agrees to indemnify, defend
and hold harmless the Executive against any Losses related to any Proceeding to which the Executive may become subject resulting from
or arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any registration statement
or prospectus or any amendment thereof or supplement thereto, (ii) any omission or alleged omission of a material fact required to be
stated in any registration statement or prospectus or any amendment thereof or supplement thereto or necessary to make the statements
therein not misleading, or (iii) any violation by the Company arising under or related to compliance with any state or Federal securities
law, including the Securities Act of 1933 as amended or the Securities Exchange Act of 1934 as amended. In this regard, the Company agrees
that any registration statement or prospectus or any amendment thereof or supplement thereto filed on behalf Company will comply in all
material respects with the requirements of any and all applicable securities laws.

 

    	 	3	 

     

    

  

For purposes of this section,
“Proceeding” means any threatened, pending, or completed action, suit or proceeding, or any inquiry, hearing or investigation,
whether civil, criminal, administrative, investigative or other, in which Executive may be or may have been involved, including, without
limitation, any threatened, pending, or completed action, suit or proceeding by or in the right of the Company.

 

ARTICLE III.

 

TERM; TERMINATION

  

A.       Term
of Employment. This Agreement’s stated term and employment relationship created hereunder will begin on the Effective Date
and will remain in effect for two (2) years (the “Term”). Unless previously terminated by either party this
Agreement will renew for an additional year, upon the completion of the then in effect Term. Each such additional year shall be included
in the definition of Term. The Executive shall resign as a member of the Board upon termination if requested by the Company.

 

B.       Termination.
Either party may terminate the Executive’s employment at any time upon written notice; provided that the Company and the Executive
will be required to provide the other at least thirty (30) days’ advance written notice of a termination without Cause (as defined
below) or the Executive’s voluntary resignation without Good Reason (as defined below), respectively. The date of the Executive’s
termination shall be the date stated in the notice of termination. Upon termination of the Executive’s employment, the Company shall
pay the Executive (i) any unpaid Base Salary accrued through the date of termination, (ii) any accrued and unpaid paid time off or similar
pay to which the Executive is entitled as a matter of law or Company policy, (iii) any amounts due to the Executive under the terms of
the Benefit Plans, and (iv) any unreimbursed expenses properly incurred prior to the date of termination (the “Accrued Obligations”).

 

    	 	4	 

     

    

 

(i)       Expiration
of the Agreement; Termination for Cause or Voluntary Resignation without Good Reason. In the event the Executive voluntarily resigns
without Good Reason, the Company may, in its sole discretion, shorten the notice period and determine the date of termination without
any obligation to pay the Executive any additional compensation other than the Accrued Obligations and without triggering a termination
of the Executive’s employment without Cause. In addition, in the event this Agreement expires, the Company terminates the Executive’s
employment for Cause, or the Executive voluntarily resigns without Good Reason, the Company shall have no further liability or obligation
to the Executive under this Agreement other than the Accrued Obligations. The Accrued Obligations shall be payable in a lump sum within
the time period required by applicable law, and in no event later than thirty (30) days following the Executive’s employment termination
date. For purposes of this Agreement, “Cause” means a termination of employment because of: (a) the Executive’s
failure or refusal to perform the duties of the Executive’s position in a manner causing material detriment to the Company; (b)
the Executive’s willful misconduct with regard to the Company or its business, assets or executives (including, without limitation,
his fraud, embezzlement, intentional misrepresentation, misappropriation, conversion or other act of dishonesty with regard to the Company);
(c) the Executive’s commission of an act or acts constituting a felony or any crime involving fraud or dishonesty as determined
in good faith by the Company; (d) the Executive’s breach of a fiduciary duty owed to the Company; (e) any material breach of this
Agreement or any other agreement with the Company; or (f) any injury, illness or incapacity which shall wholly or continuously disable
the Executive from performing the essential functions of the Executive’s position for any successive or intermittent period of at
least twelve (12) months. In each such event listed above, if the circumstances are curable, the Company shall give the Executive written
notice thereof which shall specify in reasonable detail the circumstances constituting Cause, and there shall be no Cause with respect
to any such circumstances if cured by the Executive within thirty (30) days after such notice.

 

(ii)       Termination
Without Cause or for Good Reason. In the event the Executive’s employment is terminated by the Company without Cause or
by the Executive for Good Reason at any time, the Executive shall receive, subject to the execution and timely return by the Executive
of a release of claims in the form to be delivered by the Company, which release shall, by its terms, be irrevocable no later than the
sixtieth (60th) day following his employment termination date, (a) severance pay in an aggregate amount equal to the Executive’s
Base Salary for six (6) months, less applicable payroll deductions and tax withholdings, payable in accordance with the normal payroll
policies of the Company over a six (6) month period, as applicable, with the first such payment being paid to the Executive on the Company’s
first regular pay date on or after the sixtieth (60th) day following his employment termination date; plus (b) the Performance
Bonus, if any, for the year of the Executive’s termination, subject, as applicable, to achievement of the performance metrics for
such year and payable on the date such Performance Bonus would have been paid had the Executive remained actively employed. For purposes
of this Agreement, “Good Reason” means a termination of employment because of: (x) a materially adverse diminution
in the Executive’s role or responsibilities without the Executive’s consent, provided that the Parties agree that it shall
not be considered a diminution in the Executive’s role or responsibilities if he ceases serving as CEO provided he remains Chairman;
or (y) any material breach of this Agreement by the Company or any other agreement with the Executive. In each such event listed above,
the Executive shall give the Company written notice thereof within thirty (30) days following the first occurrence of such event, which
notice shall specify in reasonable detail the circumstances constituting Good Reason, and there shall be no Good Reason with respect to
any such circumstances if cured by the Company within thirty (30) days after such notice or, if such event is not cured by the Company,
the Executive terminates his employment with the Company no later than sixty (60) days following the first occurrence of such event.

 

    	 	5	 

     

    

 

ARTICLE IV.

 

RESTRICTIVE
COVENANTS

 

A.       Confidentiality.

 

(i)       Confidential
Information. During the Executive’s employment with the Company, the Company shall grant the Executive otherwise prohibited
access to its trade secrets and confidential information which is not known to the Company’s competitors or within the Company’s
industry generally, which was developed by the Company over a long period of time and/or at its substantial expense, and which is of great
competitive value to the Company, and access to the Company’s customers and clients. For purposes of this Article IV, the
“Company” shall also include its parents, subsidiaries and affiliates. For purposes of this Agreement,

 

“Confidential
Information” includes any trade secrets or confidential or proprietary information of the Company, including, but not limited
to, the following: methods of operation, products, inventions, services, processes, equipment, know-how, technology, technical data, policies,
strategies, designs, formulas, developmental or experimental work, improvements, discoveries, research, plans for research or future products
and services, corporate transactions, database schemas or tables, software, development tools or techniques, training procedures, training
techniques, training manuals, business information, marketing and sales methods, plans and strategies, competitors, markets, market surveys,
techniques, production processes, infrastructure, business plans, distribution and installation plans, processes and strategies, methodologies,
budgets, financial data and information, customer and client information, prices and costs, fees, customer and client lists and profiles,
employee, customer and client nonpublic personal information, supplier lists, business records, product construction, product specifications,
audit processes, pricing strategies, business strategies, marketing and promotional practices, management methods and information, plans,
reports, recommendations and conclusions, information regarding the skills and compensation of employees and contractors of the Company,
and other business information disclosed to the Executive by the Company, either directly or indirectly, in writing, orally, or by drawings
or observation. “Confidential Information” does not include, and there shall be no obligation hereunder with
respect to, information that (a) is generally available to the public on the date of this Agreement or (b) becomes generally available
to the public other than as a result of a disclosure not otherwise permissible hereunder.

 

(ii)       No
Unauthorized Use or Disclosure. The Executive acknowledges and agrees that Confidential Information is proprietary to and a trade
secret of the Company and, as such, is a special and unique asset of the Company, and that any disclosure or unauthorized use of any Confidential
Information by the Executive will cause irreparable harm and loss to the Company. The Executive understands and acknowledges that each
and every component of the Confidential Information (a) has been developed by the Company at significant effort and expense and is sufficiently
secret to derive economic value from not being generally known to other parties, and (b) constitutes a protectable business interest of
the Company. The Executive acknowledges and agrees that the Company owns the Confidential Information. The Executive agrees not to dispute,
contest, or deny any such ownership rights either during or after the Executive’s employment with the Company. The Executive agrees
to preserve and protect the confidentiality of all Confidential Information. The Executive agrees that the Executive shall not during
the period of the Executive’s employment with the Company and thereafter, directly or indirectly, disclose to any unauthorized person
or use for the Executive’s own account any Confidential Information without the Company’s consent. Throughout the Executive’s
employment with the Company thereafter: (a) the Executive shall hold all Confidential Information in the strictest confidence, take all
reasonable precautions to prevent its inadvertent disclosure to any unauthorized person, and follow all Company policies protecting the
Confidential Information; and (b) the Executive shall not, directly or indirectly, utilize, disclose or make available to any other person
or entity, any of the Confidential Information, other than in the proper performance of the Executive’s duties.

 

    	 	6	 

     

    

 

(iii)       Return
of Property and Information. Upon the termination of the Executive’s employment for any reason, the Executive shall immediately
return and deliver to the Company any and all Confidential Information, software, devices, cell phones, personal data assistants, credit
cards, data, reports, proposals, lists, correspondence, materials, equipment, computers, hard drives, papers, books, records, documents,
memoranda, manuals, e-mail, electronic or magnetic recordings or data, including all copies thereof, which belong to the Company or relate
to the Company’s business and which are in the Executive’s possession, custody or control, whether prepared by the Executive
or others. If at any time after termination of the Executive’s employment the Executive determines that the Executive has any Confidential
Information in the Executive’s possession or control, the Executive shall immediately return to the Company all such Confidential
Information in the Executive’s possession or control, including all copies and portions thereof.

 

B.       Restrictive
Covenants. In consideration for (i) the Company’s promise to provide Confidential Information to the Executive, (ii) the
substantial economic investment made by the Company in the Confidential Information and goodwill of the Company, and/or the business opportunities
disclosed or entrusted to the Executive, (iii) access to the Company’s customers and clients, and (iv) the Company’s employment
of the Executive pursuant to this Agreement and the compensation and other benefits provided by the Company to the Executive, to protect
the Company’s Confidential Information and business goodwill of the Company, the Executive agrees to the following restrictive covenants:

 

(i)       Non-Solicitation.
The Executive agrees that during the Term and for a period of twelve (12) months following the Executive’s termination (the “Restricted
Period”), other than in connection with the Executive’s duties under this Agreement, the Executive shall not, and
shall not use any Confidential Information to, directly or indirectly, either as a principal, manager, agent, employee, consultant, officer,
director, stockholder, partner, investor or lender or in any other capacity, and whether personally or through other persons:

 

(a)       Solicit
business from, attempt to conduct business with, or conduct business with any client, customer, or prospective client or customer of the
Company with whom the Company conducted business or solicited within the final twelve (12) months prior to the Executive’s termination,
and who or which: (A) the Executive contacted, called on, serviced, did business with, or had contact with during the Executive’s
employment or that the Executive attempted to contact, call on, service, or do business with during the Executive’s employment;
or (B) that the Executive became acquainted with or dealt with, for any reason, as a result of the Executive’s employment. This
restriction applies only to business that is in the scope of services or products provided by the Company; or

 

    	 	7	 

     

    

  

(b)       Hire,
solicit for employment, induce or encourage to leave the employment of the Company, or otherwise cease their employment or other relationship
with the Company, on behalf of itself or any other individual or entity, any employee, independent contractor or any former employee or
independent contractor of the Company whose employment or contractor relationship ceased less than twelve (12) months earlier.

 

(ii)       Mutual
Non-Disparagement. During the Executive’s employment with the Company and any time thereafter, the Executive shall not make,
publish, or otherwise transmit any false, disparaging or defamatory statements, whether written or oral, regarding the Company and any
of its employees, executives, agents, investors, procedures, investments, products, policies, or services. The Board and the Company’s
named executive officers will not make or publish any statement, written or verbal, to any person or entity, including in any forum or
media, or take any action, in disparagement of the Executive, including negative references to or about the Executive’s services,
policies, practices, documents, methods of doing business, strategies, or objectives, or take any other action that may disparage the
Executive to the general public. However, nothing in this Article IV, Section B(ii) shall prohibit: (1) the Executive, any member
of the Board or any named executive officer of the Company from testifying truthfully in response to a subpoena or participating in any
governmental proceeding; (2) the Executive from engaging in any criticism or other statements made internally within the Company on a
need-to-know basis, and provided such criticism or other statement is not presented in a disruptive or insubordinate manner, concerning
Company’s performance or nonperformance; and (3) any named executive officer or member of the Board from engaging in any criticism
or other statements made internally within the Company on a need-to-know basis concerning the Executive’s performance or nonperformance
of the Executive’s duties or responsibilities for the Company.

 

C.       No
Interference. Notwithstanding any other provision of this Agreement, (i) the Executive may disclose Confidential Information when
required to do so by a court of competent jurisdiction, by any governmental agency having authority over the Executive or the business
of the Company or by any administrative body or legislative body (including a committee thereof) with jurisdiction to order the Executive
to divulge, disclose or make accessible such information; and (ii) nothing in this Agreement is intended to interfere with the Executive’s
right to (a) report possible violations of state or federal law or regulation to any governmental or law enforcement agency or entity;
(b) make other disclosures that are protected under the whistleblower provisions of state or federal law or regulation; (c) file a claim
or charge with the Equal Employment Opportunity Commission (“EEOC”), any state human rights commission, or any
other governmental agency or entity; or (d) testify, assist, or participate in an investigation, hearing, or proceeding conducted by the
EEOC, any state human rights commission, any other governmental or law enforcement agency or entity, or any court. For purposes of clarity,
in making or initiating any such reports or disclosures or engaging in any of the conduct outlined in subsection (ii) above, the Executive
may disclose Confidential Information to the extent necessary to such governmental or law enforcement agency or entity or such court,
need not seek prior authorization from the Company, and is not required to notify the Company of any such reports, disclosures or conduct.

 

    	 	8	 

     

    

  

D.       Defend
Trade Secrets Act. The Executive is hereby notified in accordance with the Defend Trade Secrets Act of 2016 that the Executive
will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is
made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the
purpose of reporting or investigating a suspected violation of law, or is made in a complaint or other document that is filed under seal
in a lawsuit or other proceeding. If the Executive files a lawsuit for retaliation against the Company for reporting a suspected violation
of law, the Executive may disclose the Company’s trade secrets to the Executive’s attorney and use the trade secret information
in the court proceeding if the Executive files any document containing the trade secret under seal, and does not disclose the trade secret,
except pursuant to court order.

 

E.       Tolling.
If the Executive violates any of the restrictions contained in this Article IV, the Restricted Period shall be suspended and shall
not run in favor of the Executive from the time of the commencement of any violation until the time when the Executive cures the violation
to the satisfaction of the Company.

 

F.       Remedies.
The Executive acknowledges that the restrictions contained in Article IV of this Agreement, in view of the nature of the Company’s
business and the Executive’s position with the Company, are reasonable and necessary to protect the Company’s legitimate business
interests and that any violation of Article IV of this Agreement would result in irreparable injury to the Company. In the event
of a breach by the Executive of Article IV of this Agreement, then the Company shall be entitled to a temporary restraining order
and injunctive relief restraining the Executive from the commission of any breach. Such remedies shall not be deemed the exclusive remedies
for a breach or threatened breach of this Article IV but shall be in addition to all remedies available at law or in equity, including
the recovery of damages from the Executive, the Executive’s agents, any future employer of the Executive, and any person that conspires
or aids and abets the Executive in a breach or threatened breach of this Agreement.

 

G.       Reasonableness.
The Executive hereby represents to the Company that the Executive has read and understands, and agrees to be bound by, the terms of this
Article IV. The Executive acknowledges that the scope and duration of the covenants contained in this Article IV are fair
and reasonable in light of (i) the nature and wide geographic scope of the operations of the Company’s business; (ii) the Executive’s
level of control over and contact with the Company’s business; and (iii) the amount of compensation, trade secrets and Confidential
Information that the Executive is receiving in connection with the Executive’s employment by the Company.

 

H.       Reformation.
If any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable, or overly broad as to geographic
area or time, or otherwise unenforceable, the Parties intend for the restrictions herein set forth to be modified by the court making
such determination so as to be reasonable and enforceable and, as so modified, to be fully enforced. By agreeing to this contractual modification
prospectively at this time, the Company and the Executive intend to make this provision enforceable under the law or laws of all applicable
jurisdictions so that the entire agreement not to compete and this Agreement as prospectively modified shall remain in full force and
effect and shall not be rendered void or illegal.

 

    	 	9	 

     

    

 

I.       No
Previous Restrictive Agreements. The Executive represents that, except as disclosed to the Company, the Executive is not bound
by the terms of any agreement with any previous employer or other party to refrain from using or disclosing any trade secret or confidential
or proprietary information in the course of the Executive’s employment with the Company or to refrain from competing, directly or
indirectly, with the business of such previous employer or any other party. The Executive further represents that the Executive’s
performance of all the terms of this Agreement and the Executive’s work duties for the Company do not and will not breach any agreement
to keep in confidence proprietary information, knowledge or data acquired by the Executive in confidence or in trust prior to the Executive’s
employment with the Company. The Executive shall not disclose to the Company or induce the Company to use any confidential or proprietary
information or material belonging to any previous employer or others.

 

ARTICLE V.

 

MISCELLANEOUS
PROVISIONS

  

A.       Governing
Law. The Parties agree that this Agreement shall be governed by and construed under the laws of the State of Delaware. In the
event of any dispute regarding this Agreement, the Parties hereby irrevocably agree to submit to the exclusive jurisdiction of the federal
and state courts situated in New Castle County, Delaware, and the Executive agrees that he shall not challenge personal or subject matter
jurisdiction in such courts. The Parties also hereby waive any right to trial by jury in connection with any litigation or disputes under
or in connection with this Agreement.

 

B.       Headings.
The paragraph headings contained in this Agreement are for convenience only and shall in no way or manner be construed as a part of this
Agreement.

 

C.       Severability.
In the event that any court of competent jurisdiction holds any provision in this Agreement to be invalid, illegal or unenforceable in
any respect, the remaining provisions shall not be affected or invalidated and shall remain in full force and effect.

 

D.       Reformation.
In the event any court of competent jurisdiction holds any restriction in this Agreement to be unreasonable and/or unenforceable as
written, the court may reform this Agreement to make it enforceable, and this Agreement shall remain in full force and effect as reformed
by the court.

 

E.       Entire
Agreement. This Agreement constitutes the entire agreement between the Parties, and fully supersedes any and all prior agreements,
understanding or representations between the Parties pertaining to or concerning the subject matter of this Agreement, including, without
limitation, the Executive’s employment with the Company. No oral statements or prior written material not specifically incorporated
in this Agreement shall be of any force and effect, and no changes in or additions to this Agreement shall be recognized, unless incorporated
in this Agreement by written amendment, such amendment to become effective on the date stipulated in it. Any amendment to this Agreement
must be signed by all parties to this Agreement. The Executive acknowledges and represents that in executing this Agreement, the Executive
did not rely, and has not relied, on any communications, promises, statements, inducements, or representation(s), oral or written, by
the Company, except as expressly contained in this Agreement. The Parties represent that they relied on their own judgment in entering
into this Agreement.

 

    	 	10	 

     

    

 

F.       Waiver.
No waiver of any breach of this Agreement shall be construed to be a waiver as to succeeding breaches. The failure of either of the Parties
to insist in any one or more instances upon performance of any terms or conditions of this Agreement shall not be construed as a waiver
of future performance of any such term, covenant or condition but the obligations of either of the Parties with respect thereto shall
continue in full force and effect. The breach by one of the Parties to this Agreement shall not preclude equitable relief or the obligations
of the other.

 

G.       Modification.
The provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Company and the Executive,
and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall be construed as a waiver of such provisions
or affect the validity, binding effect or enforceability of this Agreement or any provision hereof.

 

H.       Assignment.
This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, successors and permitted
assigns. The Executive may not assign this Agreement to a third party. The Company may assign its rights, together with its obligations
hereunder, to any affiliate and/or subsidiary of the Company or any successor thereto or any purchaser of substantially all of the assets
of the Company.

 

I.         Code
Section 409A.

 

(i)       To
the extent (a) any payments to which the Executive becomes entitled under this Agreement, or any agreement or plan referenced herein,
in connection with the Executive’s termination of employment with the Company constitute deferred compensation subject to Section
409A of the Code; (b) the Executive is deemed at the time of his separation from service to be a “specified employee” under
Section 409A of the Code; and (c) at the time of the Executive’s separation from service the Company is publicly traded (as defined
in Section 409A of Code), then such payments (other than any payments permitted by Section 409A of the Code to be paid within six (6)
months of the Executive’s separation from service) shall not be made until the earlier of (x) the first day of the seventh month
following the Executive’s separation from service or (y) the date of the Executive’s death following such separation from
service. Upon the expiration of the applicable deferral period described in the immediately preceding sentence, any payments which would
have otherwise been made during that period (whether in a single sum or in installments) in the absence of this Article V, Section
I shall be paid to the Executive or the Executive’s beneficiary in one lump sum, plus interest thereon at the Delayed Payment
Interest Rate computed from the date on which each such delayed payment otherwise would have been made to the Executive until the date
of payment. For purposes of the foregoing, the “Delayed Payment Interest Rate” shall mean the national average
annual rate of interest payable on jumbo six (6) month bank certificates of deposit, as quoted in the business section of the most recently
published Sunday edition of The New York Times preceding the Executive’s separation from service.

 

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(ii)       To
the extent any benefits provided under Article II, Sections B, F or G or Article III, Section B(ii) above are otherwise
taxable to the Executive, such benefits shall, for purposes of Section 409A of the Code, be provided as separate in-kind payments of those
benefits, and the provision of in-kind benefits during one calendar year shall not affect the in-kind benefits to be provided in any other
calendar year.

 

(iii)       In
the case of any amounts payable to the Executive under this Agreement, or under any plan of the Company, that may be treated as payable
in the form of “a series of installment payments,” as defined in Treas. Reg. §1.409A-2(b)(2)(iii), the Executive’s
right to receive such payments shall be treated as a right to receive a series of separate payments for purposes of Treas. Reg. §1.409A-2(b)(2)(iii).

 

(iv)       It
is intended that this Agreement comply with or be exempt from the provisions of Section 409A of the Code and the Treasury Regulations
and guidance of general applicability issued thereunder, and in furtherance of this intent, this Agreement shall be interpreted, operated,
and administered in a manner consistent with such intent.

 

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IN WITNESS WHEREOF,
the Company and the Executive have caused this Agreement to be executed on the date first set forth above, to be effective as of that
date.

 

	Company	 	Executive
	 	 	 
		 	/s/ Jesse Sutton
	1/12/2022

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