Document:

Exhibit 10.2(e)

 

February 19, 2014

[Debenture Holder’s Name]

 

Re: Amended and Restated 8% Convertible
Debenture Conversion Letter Agreement

 

Dear ____:

 

We are offering holders of the Innovus
Pharmaceuticals, Inc. (“Innovus” or the “Company”) Amended and Restated 8% Convertible Debenture, dated
November 11, 2013 (the “Debenture”), with the opportunity to do a one-time conversion of the outstanding principal
and interest under the Debenture at a conversion rate of $0.40 per share of common stock of the Company.

 

If you would like to
participate in this conversion process, please (1) sign this letter agreement below and (2) please surrender the Debenture, appropriately
endorsed to us at 9171 Towne Centre Drive, Suite 440, San Diego, CA 92122 accompanied by your written notice to us setting forth
the names or names (with addresses(es)) in which the common stock of Innovus shall be issued and registered on the books of the
Company. The Debenture shall be marked cancelled on the books of the Company as of the date hereof, whether or not surrendered.

 

As of the date hereof, the principal and
accrued interest under the Debenture is $______ and will convert into ______ shares of our common stock.

 

If you would like to convert into shares
of the Company’s common stock as described above, please sign below.

 

Once you convert as described herein, your
Debenture will terminate in its entirety as of the date hereof.

 

Please scan this document back to me at
ldillen@innovuspharma.com or fax it back to us at 858-356-9452.

 

Kind Regards,

 

/s/LYNNETTE DILLEN

 

Lynnette Dillen

Executive Vice President, Chief Financial Officer

Innovus Pharmaceuticals, Inc.

 

I, hereby, agree to be bound by the terms and conditions of
this letter agreement:

 

_________________________________

[Debenture Holder’s name]

 

cc. Dr. Bassam Damaj

President and CEO

 

Randy Berholtz, Esq.

Acting General Counsel and Secretary

 

    	1

    	 

    

 

Schedule of Debenture
Holders

 

This schedule is being
provided pursuant to Item 601 of Regulation S-K.

 

	 	 	Outstanding Principal	 	 	 	 	 	Original Principal Amount	 
	Name of Holder	 	and Interest ($)	 	 	Common Stock Issued	 	 	(in U.S. dollars)	 
	 	 	 	 	 	 	 	 	 	 
	Wallace T. Boyack	 	$	87,219	 	 	 	218,048	 	 	$	74,667	 
	Vivian Liu	 	$	58,405	 	 	 	146,014	 	 	$	50,000	 
	Walid Chehab	 	$	23,362	 	 	 	58,405	 	 	$	20,000	 
	Henry Esber, PhD. (2102)	 	$	15,185	 	 	 	37,964	 	 	$	13,000	 
	Henry Esber, PhD. (2013)	 	$	76,122	 	 	 	190,304	 	 	$	70,000	 
	Ziad Mirza	 	$	5,841	 	 	 	14,601	 	 	$	5,000	 
	Bassam Damaj	 	$	476,165	 	 	 	1,190,411	 	 	$	452,728	 

 

    	2Exhibit 10.11(e)

 

INNOVUS PHARMACEUTICALS, INC.

AMENDMENT TO SECOND AMENDED AND RESTATED
8% CONVERTIBLE DEBENTUTRE

 

THIS AMENDMENT TO SECOND
AMENDED AND RESTATED 8% CONVERTIBLE DEBENTURE (“Amendment”) is entered into as of February 19, 2014 (the “Effective
Date’), by and among Innovus Pharmaceuticals, Inc., a Nevada corporation (“Issuer”), and Bassam Damaj (“Debenture
Holder”).

 

RECITALS

 

WHEREAS, the signatories hereto are parties
to that certain 8% Convertible Debenture, dated January 22, 2013, as amended and restated on March 18, 2013 and as amended and
restated on November 11, 2013 (collectively the “Debenture”).

 

WHEREAS, the signatories hereto desire to
enter into this Amendment to amend the Debenture as set forth herein.

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending legally to be bound, agree as follows:

 

AGREEMENT

 

1.          Conversion
of Outstanding Principal and Interest. Issuer and Debenture Holder hereby agree to convert all of the current outstanding principal
and interest under the Debenture as of the Effective Date, which is $476,165, into common shares of the Issuer at the conversion
rate of $.40 per share for a total of 1,190,411 shares.

 

2.          Authority.
Debenture Holder hereby represents and warrants that he is the sole legal and beneficial owner of the Debenture and that no other
person has any interest (other than a community property interest) in the Debenture. Debenture Holder represents that he has the
full authority to execute this Second Amendment and not consents or approvals are required for such execution that have not been
obtained prior to execution.

 

3.          Ratification,
No Default or Conversion. Debenture Holder hereby confirms (a) the absence of any Event of Default under the Debenture and
(b) the absence of any conversion, pursuant to Section 1.2 or Section 3.1 of the Debenture or otherwise. Except as amended herein,
the Debenture shall remain in full force and effect.

 

4.          Entire
Agreement. This Amendment and Debenture constitute the entire agreement between the parties hereto and collectively supersede
any prior understandings, agreements or representations by or among the parties hereto, written or oral, to the extent they relate
in any way to the subject matter hereof. All other terms and conditions of the Debenture shall continue in full force and effect.

 

5.          Conflict
of Terms. In the event of any inconsistency between the provisions of this Amendment and any provisions of the Debenture, the
terms and provisions of this Amendment shall govern and control.

 

    	1

    	 

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amendment to Debenture on the date first above written.

 

	 	INNOVUS PHARMACEUTICALS, INC.
	 	 	 
	 	By:	/s/ Lynnete Dillen
	 	 	Lynnette Dillen
	 	 	Executive Vice President and CFO
	 	 	 
	 	DEBENTURE HOLDER
	 	 	 
	 	By:	/s/ Bassam Damaj
	 	 	Bassam Damaj

 

    	2Exhibit 10.16(b)

 

February 19, 2014

 

Henry Esber

38 Angell Brook Drive

West Boylston, MA 01583

 

Re: Amended and Restated 8% Convertible
Debenture Conversion Letter Agreement

 

Dear Henry:

 

We are offering holders of the Innovus
Pharmaceuticals, Inc. (“Innovus” or the “Company”) Amended and Restated 8% Convertible Debenture, dated
January 15, 2103 (the “Debenture”), with the opportunity to do a one-time conversion of the outstanding principal and
interest under the Debenture at a conversion rate of $0.40 per share of common stock of the Company.

 

If you would like to
participate in this conversion process, please (1) sign this letter agreement below and (2) please surrender the Debenture, appropriately
endorsed to us at 9171 Towne Centre Drive, Suite 440, San Diego, CA 92122 accompanied by your written notice to us setting forth
the names or names (with addresses(es)) in which the common stock of Innovus shall be issued and registered on the books of the
Company. The Debenture shall be marked cancelled on the books of the Company as of the date hereof, whether or not surrendered.

 

As of the date hereof, the principal and
accrued interest under the Debenture is $76,122 and will convert into 190,304 shares of our common stock.

 

If you would like to convert into shares
of the Company’s common stock as described above, please sign below.

 

Once you convert as described herein, your
Debenture will terminate in its entirety as of the date hereof.

 

Please scan this document back to me at
ldillen@innovuspharma.com or fax it back to us at 858-356-9452.

 

Kind Regards,

 

/s/ Lynnette Dillen

 

Lynnette Dillen

Executive Vice President, Chief Financial Officer

Innovus Pharmaceuticals, Inc.

 

I, hereby, agree to be bound by the terms and conditions of
this letter agreement:

 

	/s/ Henry Esber	 
	Henry Esber	 

 

cc. Dr. Bassam Damaj

President and CEO

 

Randy Berholtz, Esq.

Acting General Counsel and Secretary

 

    	1Exhibit 10.18

 

February 4, 2014 

 

		Re:	Employment Letter

 

Dear Lynnette:

 

On behalf of Innovus
Pharmaceuticals, Inc. I am pleased to extend an offer of employment for the position of Executive Vice President and Chief Financial
Officer. You will report to Bassam Damaj, President and CEO.

 

Salary/Benefits:
If you accept this offer, your initial starting annual salary will be $200,000 per year and will increase to $250,000 after six
months of continued employment with the Company.

 

You will be eligible to participate in the Company’s benefit plans, which will include medical,
dental, life, 401K, and disability insurance plans once instated by the Company,
currently anticipated to be instated the month you start employment. The Company will pay at least seventy-five percent of the
family premium and you will be responsible for the remainder. In the event a health and dental plan is not available to you immediately
upon hire, the Company will provide up to $1,500 a month to you for health and dental coverage until a health and dental plan is
instated in the Company and you are eligible to participate. In addition to Company paid holidays, you also will receive 20 vacation
days, 5 sick days and 3 personal days per year, subject to accrual limits under the Company’s policies. 

 

Annual Bonus:
You are eligible to receive an annual incentive bonus with a target incentive bonus of 30%, subject to your personal performance
and that of the Company, and approval of the Board of Directors.  The annual incentive bonus is payable in cash by March 1st
of the following year conditional to your continued employment with the Company.

 

Special
Bonus: You are eligible to receive a one-time $100,000 bonus upon the Company successful listing on NASDAQ and subject
to the approval of the Board of Directors, the Company will grant you at that time a one-time restricted stock units
(“RSU”) covering 100,000 shares of the Company’s common stock (the “RSU Grant”) conditional to your
continued employment with the Company. In addition you are eligible to receive a one-time $100,000 bonus upon the completion
of $4 million in financing conditional to your continued employment with the Company.

 

Equity Compensation:
Subject to the approval of the Board of Directors, the Company will grant you restricted stock units (“RSU”) covering
600,000 shares of the Company’s common stock (the “RSU Grant”) that will vest according to the Company’s standard vesting
plan. The vested portion of the RSU Grants shall be settled with a like number of Company common shares upon your election anytime
after vesting but no later than (i) your termination date, whether
voluntary or involuntary, (ii) a Change in Control of the Company (as defined in the RSU agreement), or (iii) the seventh anniversary
of the Vesting Date.  In addition to the initial RSU Grant, you will be eligible for annual grants of either RSUs or stock options
at the election of the Board of Directors.  These additional grants may occur more frequently than annual at the election of the
Board of Directors in its sole discretion.

 

T: 1-858-964-5123
· F: 1-858-964-2301  ·
www.innovuspharma.com  · 4275 Executive Square, Suite 207  ·
San Diego, CA 92037

 

    	 

    	 

    

 

The Company will enter
into a Change of Control and Severance Agreement with you upon hire. Under the terms of the agreement, you will be entitled to
receive nine months of your base salary, continuation of health and dental insurance provided to you for you and your dependents
at the Company’s expense for nine months. The Change of Control and Severance Agreement will provide these benefits based upon
a termination in conjunction with or following of a change of control or termination as a result of an involuntary termination
other than for cause.

 

Even though your job
duties, title, reporting relationships, compensation and benefits, as well as the Company’s personnel policies and procedures,
may be changed by Innovus, at its option, from time to time during your tenure here, neither you nor the Company can change the
“at-will” nature of your employment, absent a written contract signed by the President and Chief Executive Officer of
the Company.

 

The Company conditions this offer upon your providing appropriate documentation of United States citizenship
or authorization to work in the United States and proof of identity. Also, the Company conditions this offer upon satisfactory
completion of a background check and drug screening test and the signing and returning with this letter the enclosed Proprietary
Information and Inventions Agreement.

 

We wish to impress on
you that you must not bring to the Company any confidential or proprietary information or material of any former employer, disclose
or use such information or material in the course of your employment with the Company, or violate any other obligation to your
former employers.

 

The offer of employment
will expire if not accepted prior to February 6, 2014. This letter supersedes and replaces any and all prior agreements or representations
concerning your employment with the Company.  If you have any questions about this letter, then before signing please contact me.

 

We are enthusiastic about
your joining the Company and look forward to working with you.

 

	 	Sincerely, 
	 	 
	 	/s/ Bassam Damaj
	 	Bassam Damaj, Ph.D.
	 	President & Chief Executive Officer 

 

I have read this letter and understand
its terms. By signing below, I accept the offer of employment on the terms set forth in this letter.

 

	Date:	2/4/14	 	Signature:	/s/ Lynnette Dillen

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