Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT 

BETWEEN SENSUS HEALTHCARE, LLC 

AND ARTHUR LEVINE, DATED AS OF AUGUST
24, 2014

 

CONFIDENTIAL EMPLOYMENT AGREEMENT

 

THIS CONFIDENTIAL
EMPLOYMENT AGREEMENT (the “Agreement”) is made as of this 12th day of August, 2014, by and between Sensus
Healthcare a Delaware corporation with a principal place of business in Boca Raton, Florida (the “Company”),
and Arthur Levine (“Employee”), a resident of the State of Florida (collectively, the “Parties”).

 

WHEREAS, the
Company wishes to employ Employee and to assure itself of the services of Employee on the terms and conditions set forth herein,
and Employee wishes to be so employed; and

 

WHEREAS, the
purpose of this Agreement is to set forth the terms and conditions of Employee’s employment with the Company, and Employee’s
post-employment restrictions; and

 

WHEREAS, this
Agreement is necessary for the protection of the Company’s legitimate and protectible confidential information and business
interests; and

 

WHEREAS, the
Parties intend that this Agreement will remain confidential, and will supersede and replace any similar agreements that presently
exist or may have previously existed between the Parties regarding the terms of Employee’s employment with the Company.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the mutual promises and covenants contained herein, the Parties agree as follows:

 

1.          EMPLOYMENT.
The Company will employ Employee and Employee will serve the Company in the capacity of Chief Financial Officer.

 

2.          AT-WILL
EMPLOYMENT. It is understood and agreed by the Company and Employee that this Agreement does not contain any promise
or representation concerning the duration of Employee’s employment with the Company. Employee specifically acknowledges that
his employment with the Company is at-will and may be altered or terminated by either Employee or the Company at any time, with
or without cause and/or with or without notice. The fact that Employee’s rate of salary, any bonuses, paid time off, other
compensation, or vesting schedules are stated in units of years or months or weeks does not alter the at-will nature of Employee’s
employment, and does not mean and should not be interpreted to mean that Employee is guaranteed employment to the end of any period
of time or for any period of time. In the event of conflict between this disclaimer and any other statement, oral or written, present
or future, concerning terms and conditions of employment, the at-will relationship confirmed by this disclaimer shall control.
This at-will status cannot be altered except in a writing specifically modifying this provision of this Agreement and duly approved
and executed by the Board of Directors of the Company (the “Board of Directors”).

 

     

     

    

  

3.          DUTIES.
Employee will render exclusive, full-time services to the Company as Chief Financial Officer. Employee will report to the Company’s
President and Chief Executive Officer. Employee will perform services under this Agreement primarily at the Florida office of the
Company, and from time to time at such other locations as is necessary to perform the duties of Chief Financial Officer under this
Agreement. Employee’s responsibilities, working conditions and duties may be changed, added to or eliminated during his employment
at the sole discretion of the Company’s Chief Executive Officer. During Employee’s employment with the Company he shall
devote his best efforts and his full business time, skill and attention to the performance of his duties on behalf of the Company.

 

4.          POLICIES
AND PROCEDURES. Employee agrees that he is subject to and will comply with the policies and procedures of the Company, as such
policies and procedures may be modified, added to or eliminated from time to time at the sole discretion of the Company, except
to the extent any such policy or procedure specifically conflicts with the express terms of this Agreement. Employee further agrees
and acknowledges that any written or oral policies and procedures of the Company do not constitute contracts between the Company
and Employee.

 

5.          BASE
SALARY. For all services rendered and to be rendered hereunder, the Company agrees to pay to the Employee, and the Employee
agrees to accept a salary of $150,000 per annum (“Base Salary’) which will be paid periodically in accordance with
normal Company payroll practices, subject to those deductions and withholdings set forth below, and those established by further
agreement with the Employee.

 

(a)          Compensation
Subject to Review. Employee’s compensation is subject to review and modification, including reduction, by the Company
and its Board of Directors at any time. Notwithstanding the foregoing, Emp1oyee’s base salary will not be reduced except
as part of, and on a level commensurate with, an across-the-board reduction in the base salaries paid to the executive management
team of the Company. Employee’s compensation will be reviewed on or before January 15, 2015 and on an annual basis
thereafter.

 

(b)          Deductions
and Withholding. Employee authorizes the Company to withhold and/or deduct from any one or more of Employee’s paychecks,
including without limitation Employee’s final paycheck and any bonus check, any and all of the following as may be applicable
under the circumstances.

 

(i)          Any
amounts required or authorized by any applicable taxing or other authority.

 

(ii)         Any
amounts loaned to Employee by the Company or its affiliates.

 

(iii)        Any
amounts reflecting the fair market value of property belonging to the Company or its affiliates that was damaged, destroyed, or
not returned by Employee.

 

(iv)        Any
amounts reflecting expenses or costs incurred by Employee for which the Company believes in good faith it may have potential liability
for payment.

 

     

     

    

  

(v)         Any
other amounts as permitted by any applicable Jaw.

 

6.          OTHER
BENEFITS. While employed by the Company as provided herein:

 

(a)          Employee
Benefits. The Employee will be afforded the opportunity to participate in all benefits offered to other executive officers
of the Company, subject to all terms and conditions applicable to such benefits, including, without limitation, participation in
pension and profit sharing plans, 401(k) plan, group insurance policies and plans, medical, health, vision, and disability insurance
policies and plans, and the like, which may be maintained by the Company for the benefit of its executives. The Company reserves
the right to alter and amend the benefits received by Employee from time to time at the Company’s discretion.

 

(b)          Expense
Reimbursement. The Company agrees to reimburse Employee for all reasonable business, travel, and other out-of-pocket expenses
incurred by Employee in the discharge of Employee’s duties, subject to the Company’s reimbursement policies in effect
from time to time. Employee must appropriately document all expenses for which Employee seeks reimbursement, in reasonable detail
and in a format and manner consistent with the Company’s expense reporting policy, as well as applicable federal and state
record keeping requirements.

 

(c)          Personal
Time Off (PTO). Employee will be entitled to 15 days of PTO per year during the first two years of this Agreement and 20 days
of PTO per year thereafter. At the beginning of each year, the first five days of that year’s PTO will be accrued, and the
remaining PTO for such year will accrue in monthly increments annually. All PTO not used will be forfeited at the end of each year
of this Agreement to the extent not used during such period. Accrued, unused PTO will not be paid out to Employee in a final paycheck
upon termination of employment.

 

(d)          Bonus.
Employee is eligible to participate in the Company’s 2014 bonus plan. The Chief Financial Officer is eligible for a 2014
bonus, with a target bonus of $30,000 (20%), which shall be prorated based upon Employee’s actual days of service.

 

CONFIDENTIAL INFORMATION, RIGHTS AND
DUTIES, AND D&O.

 

(a)          Proprietary
Information. Employee agrees, if he has not already done so, to sign and abide by the Company’s Proprietary Information
and Inventions Agreement (the “Proprietary Information Agreement’’), in the form attached hereto as Exhibit
B.

 

(b)          Exclusive
Property. Employee agrees that all Company-related business procured by the Employee, and all Company-related business opportunities
and plans made known to Employee while employed by the Company, are and shall remain the permanent and exclusive property of the
Company.

 

(c)          Directors
& Officers Insurance. As Chief Financial Officer, Employee shall be covered under the Company’s Directors and Officers
insurance policy.

 

7.          TERMINATION.
Employee and the Company each acknowledge that either party has the right to terminate Employee’s employment with the Company
at any time for any reason whatsoever, with or with out cause or advance notice, pursuant to the following:

 

     

     

    

 

(a)          Termination
by Death or Disability. Subject to applicable state or federal law, in the event Employee shall die during his employment hereunder
or become permanently disabled, as evidenced by Employee’ s inability or refusal to carry out one or more of the essential
functions of Employee’s position for a continuous period of more than six months due to a mental or physical impairment,
Employee’s employment and the Company’s obligation to make payments hereunder will terminate on the date of his death,
or the date upon which, in the sole determination of the Board of Directors, Employee has become permanently disabled, except that
the Company shall pay to Employee (or his estate), any salary earned but unpaid prior to termination, any benefits accrued prior
to termination, all accrued but unused personal time, and any business expenses that were incurred but not reimbursed as of the
date of termination.

 

(b)          Voluntary
Resignation by Employee. In the event the Employee voluntarily terminates his employment with the Company, the Company’s
obligation to make payments hereunder shall cease upon such termination, except the Company shall pay Employee any salary earned
but unpaid prior to termination, any benefits accrued prior to termination and any business expenses that were incurred but not
reimbursed as of the date of termination .

 

(c)          Termination
for Cause. In the event the Employee is terminated by the Company for Cause (as defined below), the Company’s obligation
to make payments hereunder shall cease upon the date of receipt by Employee of written notice of such termination (the “Termination
Date”), except the Company shall pay Employee any Base Salary earned but unpaid prior to the Termination Date and any business
expenses that were incurred but not reimbursed as of the date of termination. For purposes of this Agreement, “Cause”
means that the Company’s Board of Directors (by majority vote) has reason to believe that any of the following have happened:
(i) commission of any felony or a crime involving moral turpitude or dishonesty that is injurious to the reputation of the Company;
(ii) participation in a fraud or act of dishonesty against or involving the Company; (iii) willful and continuous failure or refusal
to carry out the directions of the Company or its Board of Directors to the extent such directions are consistent with Employee’
s duties or (iv) intentional damage to property of the Company having material value or an Act that demonstrates a willful or continuing
disregard for the best interests of the Company.

 

     

     

    

  

(d)          Termination
by the Company without Cause; Voluntary Resignation for Good Reason. The Company will have the right to terminate Employee
‘s employment with Company at any time without Cause. In the event Employee is terminated without Cause (as defined herein),
or Employee voluntarily resigns for Good Reason (as defined below) and upon the execution of a release by Employee in the form
attached hereto as Exhibit C (“Release”) and written acknowledgment of Employee’s continuing obligations
under the Proprietary Information Agreement, Employee shall be entitled to receive the equivalent six (6) months of his Base Salary
as in effect immediately prior to the termination date, paid on the same basis and at the same time as previously paid and subject
to payroll tax withholdings and deductions; provided, however, that if Employee is terminated without Cause (as defined
herein) or Employee voluntarily resigns for Good Reason (as defined herein) either in connection with or anytime subsequent to
a Change in Control of the Company, Employee shall be entitled to receive the equivalent of six (6) months of his Base Salary as
in effect immediately prior to the termination date on the same terms and conditions set forth above. Provided that Employee timely
elects continuation of his health insurance pursuant to COBRA, for a period following termination equal to the payment of Base
Salary pursuant to the prior sentence, the Company shall also reimburse Employee for the cost of COBRA premiums to be paid in order
for Employee to maintain medical insurance coverage that is substantial1y equivalent to that which Employee received immediately
prior to the termination (the salary continuation and COBRA reimbursement are collectively referred to as the “Severance
Benefits”). For purposes of this Agreement, “Good Reason” shall mean the occurrence of one or more of the following:
(i) any request that the Employee relocate his primary residence more than fifty (50) miles, unless the Employee accepts such relocation
opportunity; (ii) a significant reduction in Employee’s duties, position, or responsibilities in effect immediately prior
to such reduction, provided, however that a reduction in duties, position or responsibilities solely by virtue of
the Company being acquired and made part of a larger entity (as, for example when the Chief Executive Officer of the Company remains
as such following a Change in Control but is not made the Chief Executive Officer of the acquiring corporation) shall not constitute
“Good Reason;” or (iii) any material reduction of Employee’s then-existing annual base salary, other than any
such reduction mutually agreed upon by the Company and Employee or any such reduction resulting from a genera) reduction by the
Company in the base salary of all of the Company’s executive officers; provided, that Employee shall give written notice
to the Company’s Board of Directors setting forth Employee’s intent to resign for Good Reason and the facts in support
of Employee’s claim that Good Reason exists; and the Company shall have twenty (20) days after the Board of Directors has
received such notice to take such actions, if any, as the Company may deem appropriate to eliminate such claimed Good Reason (without
thereby admitting that such Good Reason had occurred). If the Company so acts to eliminate such claimed Good Reason, then Employee
shall not be deemed to be resigning for Good Reason under such facts. “Change in Control” shall, unless otherwise defined
in the Operating Agreement, mean (A) any consolidation or merger of the Company with or into any other corporation or other entity
or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the stockholders
of the Company immediately prior to such consolidation, merger or reorganization, continue to hold at least a majority of the voting
power of the surviving entity in substantially the same proportions (or, if the surviving entity is a wholly owned subsidiary,
its parent) immediately after such consolidation, merger or reorganization; (B) any transaction or series of related transactions
to which the Company is a party in which in excess of fifty percent (50%) of the Company’s voting power is transferred ;
provided that a Change in Control shall not include any transaction or series of transactions principally for bona fide equity
financing purposes in which cash is received by the Company or any successor or indebtedness of the Company is cancelled or converted
or a combination thereof. or (C) a sale, lease, exclusive license or other disposition of all or substantially all of the assets
of the Company.

 

8.            MISCELLANEOUS.

 

(a)          Taxes.
Employee agrees to be responsible for the payment of any taxes due on any and all compensation, stock option, or benefit provided
by the Company pursuant to this Agreement. Employee agrees to indemnify the Company and hold the Company harmless from any and
all claims or penalties asserted against the Company for any failure to pay taxes due on any compensation, stock option, or benefit
provided by the Company pursuant to this Agreement. Employee expressly acknowledges that the Company has not made, nor herein makes,
any representation about the tax consequences of any consideration provided by the Company to Employee pursuant to this Agreement.

 

     

     

    

  

(b)          Modification/Waiver;
Severability. This Agreement may not be amended, modified, superseded, canceled, renewed or expanded, or any terms or covenants
hereof waived, except by a writing executed by each of the parties hereto or, in the case of a waiver, by the party waiving compliance.
Failure of any party at any time or times to require performance of any provision hereof shall in no manner affect his or its right
at a later time to enforce the same. No waiver by a party of a breach of any term or covenant contained in this Agreement, whether
by conduct or otherwise, in any one or more instances shall be deemed to be or construed as a further or continuing waiver of agreement
contained in the Agreement. If any one or more of the provisions contained in this Agreement are, for any reason, held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect the other provisions of
this Agreement, and the Parties intend for this Agreement to be modified to save the offending provision, and/or to be construed
as if the offending provision had never been contained in this Agreement.

 

(c)          Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of any successor or assignee of the business
of the Company. This Agreement shall not be assignable by the Employee.

 

(d)          Notices.
All notices given hereunder shall be given by certified mail, addressed, or delivered by hand, to the other party at his or its
address as set forth herein, or at any other address hereafter furnished by notice given in like manner. Employee promptly shall
notify Company of any change in Employee’s address. Each notice shall be dated the date of its mailing or delivery and shall
be deemed given, delivered or completed on such date.

 

(e)          Governing
Law; Personal Jurisdiction and Venue. This Agreement and all disputes relating to this Agreement shall be governed in all respects
by the laws of the State of Florida as such laws are applied to agreements between Florida residents entered into and performed
entirely in Florida. The Parties acknowledge that this Agreement constitutes the minimum contacts to establish personal jurisdiction
in Florida and agree to Florida court’s exercise of personal jurisdiction.

 

(f)          Entire
Agreement. This Agreement together with the Exhibits B and C, attached hereto set forth the entire agreement and understanding
of the parties hereto with regard to the employment of the Employee by the Company and supersede any and all prior agreements,
arrangements and understandings, written or oral, pertaining to the subject matter hereof. No representation, promise or inducement
relating to the subject matter hereof has been made to a party that is not embodied in these Agreements, and no party shall be
bound by or liable for any alleged representation, promise or inducement not so set forth.

 

IN WITNESS WHEREOF,
the parties have each duly executed this Employment Agreement with the intent to be legally bound, as of the day and year first
above written.

 

	 	SENSUS HEALTHCARE
	 	 	 
	 	By:	/s/ Joe Sardano
	 	 	Joseph Sardano
	 	 	CEO & President
	 	 	 
	 	By:	/s/ Arthur Levine
	 	 	Arthur Levine

 

     

     

    

  

EXHIBIT A

 

TO:     Sensus Healthcare

 

FROM: __________________

 

DATE: __________________

 

SUBJECT: Previous Inventions

 

1.          Except
as listed in Section 2 below, the following is a complete list of all inventions or improvements relevant to the subject matter
of my employment by Sensus Healthcare (the “Company”) that have been made or conceived or first reduced
to practice by me alone or jointly with others prior to my engagement by the Company:

 

	þ	No inventions or improvements.
	 	 
	 ̈	See below:
	 	 
	 	 
	 	 
	 	 

 

	 ̈	Additional sheets attached.

 

2.          Due
to a prior confidentiality agreement, I cannot complete the disclosure under Section 1 above with respect to inventions or improvements
generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following party(ies):

 

	 	Invention or Improvement	 	Party(ies)	 	Relationship
	1.	 	 	 	 	 
	2.	 	 	 	 	 
	3.	 	 	 	 	 

 

	 ̈	Additional sheets attached.

 

     

     

    

  

EXHIBIT B

 

MANAGER, EXECUTIVE PERSONNEL OR ASSISTANTS’

PROPRIETARY INFORMATION, INVENTIONS,

NON-COMPETITION, AND NON-SOLICITATION AGREEMENT

 

This Manager, Executive
Personnel or Assistants’ Proprietary Information, Inventions, Non-competition, and Non-solicitation Agreement (“Agreement”)
is made in consideration for my employment or continued employment by SENSUS HEALTHCARE or its subsidiaries or affiliates
(the “Company”), and the compensation now and hereafter paid to me. I hereby agree as follows:

 

1.            NONDISCLOSURE.

 

1.1          Recognition
of Company’s Rights; Nondisclosure. At all times during my employment and thereafter, I will hold in strictest confidence
and will not disclose, use, lecture upon or publish any of the Company’s Proprietary Information (defined below), except
as such disclosure, use or publication may be required in connection with my work for the Company, or unless an officer of the
Company other than myself expressly authorizes such in writing. I will obtain Company’s written approval before publishing
or submitting for publication any material (written, verbal, or otherwise) that relates to my work at Company and/or incorporates
any Proprietary Information. I hereby assign to the Company any rights I may have or acquire in such Proprietary Information and
recognize that all Proprietary Information shall be the sole property of the Company and its assigns.

 

1.2         Proprietary
Information. The term “Proprietary Information” shall mean any and all confidential and/or proprietary knowledge,
data or information of the Company. By way of illustration but not limitation, Proprietary Information includes (a) trade secrets,
inventions, mask works, ideas, processes, formulas, source and object codes, data, programs, other works of authorship, know-how,
improvements, discoveries, developments, designs and techniques (hereinafter collectively referred to as “Inventions”);
and (b) information regarding plans for research, development. new products, marketing and selling, business plans, budgets and
unpublished financial statements, licenses, prices and costs, suppliers and customers; and (c) information regarding the skills
and compensation of other employees of the Company. Notwithstanding the foregoing, it is understood that, at all such times, I
am free to use information which is generally known in the trade or industry, which is not gained as result of a breach of this
Agreement, and my own, skill, knowledge, know-how and experience to whatever extent and in whichever way I wish.

 

1.3         Third
Party Information. I understand, in addition, that the Company has received and in the future will receive from third parties
confidential or proprietary information(“Third Party Information”) subject to a duty on the Company’s
part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the term of my
employment and thereafter, I will hold Third Party Information in the strictest confidence and will not disclose to anyone (other
than Company personnel who need to know such information in connection with their work for the Company) or use, except in connection
with my work for the Company, Third Party Information unless expressly authorized by an officer of the Company other than myself
in writing.

 

     

     

    

  

1.4          No
Improper Use of Information of Prior Employers and Others. During my employment by the Company I will not improperly use or
disclose any confidential information or trade secrets, if any, of any former employer or any other person to whom I have an obligation
of confidentiality, and I will not bring onto the premises of the Company any unpublished documents or any property belonging to
any former employer or any other person to whom I have an obligation of confidentiality unless consented to in writing by that
former employer or person. I will use in the performance of my duties only information which is generally known and used by persons
with training and experience comparable to my own, which is common knowledge in the industry or otherwise legally in the public
domain, or which is otherwise provided or developed by the Company.

 

2.           ASSIGNMENT
OF INVENTIONS.

 

2.1         Proprietary
Rights. The term “Proprietary Rights” shall mean all trade secret, patent, copyright, mask work and other
intellectual property rights throughout the world.

 

2.2         Prior
Inventions. Inventions, if any, patented or unpatented, which I made prior to the commencement of my employment with the Company
are excluded from the scope of this Agreement. To preclude any possible uncertainty, I have set forth on Exhibit A (Previous
Inventions) attached hereto a complete list of all Inventions that I have, alone or jointly with others, conceived, developed or
reduced to practice or caused to be conceived, developed or reduced to practice prior to the commencement of my employment with
the Company, that I consider to be my property or the property of third parties and that I wish to have excluded from the scope
of this Agreement (collectively referred to as “Prior Inventions”). If disclosure of any such Prior Invention would
cause me to violate any prior confidentiality agreement. I understand that I am not to list such Prior Inventions in Exhibit A
but am only to disclose a cursory name for each such invention, a listing of the party(ies) to whom it belongs and the fact that
full disclosure as to such inventions has not been made for that reason. A space is provided on Exhibit A for such purpose. If
no such disclosure is attached, I represent that there are no Prior Inventions. If, in the course of my employment with the Company,
I incorporate a Prior Invention into a Company product, process or machine, the Company is hereby granted and shall have a nonexclusive,
royalty-free, irrevocable, perpetual, worldwide license (with rights to sublicense through multiple tiers of sublicensees) to make,
have made, modify, use and sell such Prior Invention. Notwithstanding the foregoing, I agree that I will not incorporate, or permit
to be incorporated, Prior Inventions in any Company Inventions without the Company’s prior written consent.

 

2.3           Assignment
of Inventions. Subject to Sections 2.4, and 2.6, I hereby assign and agree to assign in the future (when any such Inventions
or Proprietary Rights are first reduced to practice or first fixed in a tangible medium, as applicable) to the Company all my right,
title and interest in and to any and all Inventions (and all Proprietary Rights with respect thereto) whether or not patentable
or registerable under copyright or similar statutes, made or conceived or reduced to practice or learned by me, either alone or
jointly with others, during the period of my employment with the Company. Inventions assigned to the Company, or to a third party
as directed by the Company pursuant to this Section 2, are hereinafter referred to as “Company Inventions.”

 

     

     

    

  

2.4          Nonassignable
Inventions. I recognize that, in the event of a specifically applicable state law, regulation. rule. or public policy (“Specific
Inventions Law”), this Agreement will not be deemed to require assignment of any invention which qualifies fully for
protection under a Specific Inventions Law by virtue of the fact that any such invention was, for example, developed entirely on
my own time without using the Company’s equipment. supplies, facilities, or trade secrets and neither related to the Company’s
actual or anticipated business, research or development, nor resulted from work performed by me for the Company. In the absence
of a Specific Inventions Law, the preceding sentence will not apply.

 

2.5          Obligation
to Keep Company Informed. During the period of my employment and for six months after the last day of my employment with the
Company, I will promptly disclose to the Company fully and in writing all Inventions authored, conceived or reduced to practice
by me, either alone or jointly with others. In addition, I wil1 promptly disclose to the Company all patent applications filed
by me or on my behalf within a year after termination of employment. At the time of each such disclosure, I will advise the Company
in writing of any Inventions that I believe fully qualify for protection under the provisions of a Specific Inventions Law; and
I will at that time provide to the Company in writing all evidence necessary to substantiate that belief. The Company will keep
in confidence and will not use for any purpose or disclose to third parties without my consent any confidential information disclosed
in writing to the Company pursuant to this Agreement relating to Inventions that qualify fully for protection under a Specific
Inventions Law. I will preserve the confidentiality of any Invention that does not fully qualify for protection under a Specific
Inventions Law.

 

2.6          Government
or Third Party. I also agree to assign all my right, title and interest in and to any particular Invention to a third party,
including without limitation the United States, as directed by the Company.

 

2.7          Works
for Hire. I acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the
scope of my employment and which are protectable by copyright are “works made for hire,” pursuant to United States
Copyright Act (17 U.S.C., Section 101).

 

2.8          Enforcement
of Proprietary Rights. I will assist the Company in every proper way to obtain, and from time to time enforce, United States
and foreign Proprietary Rights relating to Company Inventions in any and all countries. To that end I will execute, verify and
deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for
use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary Rights and the assignment thereof.
In addition, I will execute, verify and deliver assignments of such Proprietary Rights to the Company or its designee. My obligation
to assist the Company with respect to Proprietary Rights relating to such Company Inventions in any and all countries shall continue
beyond the termination of my employment, but the Company shall compensate me at a reasonable rate after my termination for the
time actually spent by me at the Company’s request on such assistance.

 

In the event the Company is unable for
any reason, after reasonable effort, to secure my signature on any document needed in connection with the actions specified in
the preceding paragraph, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as
my agent and attorney in fact, which appointment is coupled with an interest, to act for and in my behalf to execute, verify and
file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph with the
same legal force and effect as if executed by me. I hereby waive and quitclaim to the Company any and all claims, of any nature
whatsoever, which I now or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company.

 

     

     

    

  

3.            NO
CONFLICTS OR SOLICITATION. I acknowledge that during my employment I will have access to and knowledge of Proprietary Information.
I also acknowledge that during my employment with the Company, I have held and/or will hold a management or executive position
or am, or will be, an assistant to a manager or executive. To protect the Company’s Proprietary Information, I agree that
during the period of my employment by the Company I will not, without the Company’s express written consent, engage in any
other employment or business activity directly related to the business in which the Company is now involved or becomes involved,
nor will I engage in any other activities which conflict with my obligations to the Company. To protect the Company’s Proprietary
Information, and because of the position in the Company that I hold, I agree that during my employment with the Company whether
full-time or part-time and for a period of one year after my last day of employment with the Company, I will not (a) directly or
indirectly solicit or induce any employee of the Company to terminate or negatively alter his or her relationship with the Company
or (b) directly or indirectly solicit the business of any client or customer of the Company (other than on behalf of the Company)
or (c) directly or indirectly induce any client, customer, supplier, vendor, consultant or independent contractor of the Company
to terminate or negatively alter his, her or its relationship with the Company. I agree that the geographic scope of the non-solicitation
should include the “Restricted Territory” (as defined below). If any restriction set forth in this Section is found
by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a
range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time,
range of activities or geographic area as to which it may be enforceable.

 

4.            COVENANT
NOT TO COMPETE. I acknowledge that during my employment I will have access to and knowledge of Proprietary Information. I also
acknowledge that during my employment with the Company, I have held and/or will hold a management or executive position or am,
or will be, an assistant to a manager or executive. To protect the Company’s Proprietary Information, and because of the
position in the Company that I may hold, I agree that during my employment with the Company whether full-time or part-time and
for a period of one year after my last day of employment with the Company, I will not directly or indirectly engage in (whether
as an employee, consultant. proprietor, partner, director or otherwise), or have any ownership interest in, or participate in the
financing, operation, management or control of, any person, firm, corporation or business that engages in a “Restricted Business”
in a “Restricted Territory” (as defined below). It is agreed that ownership of (i) no more than one percent (1%) of
the outstanding voting stock of a publicly traded corporation, or (ii) any stock I presently own shall not constitute a violation
of this provision.

 

4.1          Reasonable.
I agree and acknowledge that the time limitation on the restrictions in this paragraph, combined with the geographic scope, is
reasonable. I also acknowledge and agree that this paragraph is reasonably necessary for the protection of Company’s Proprietary
Information as defined in paragraph 1.2 herein, that through my employment I shall receive adequate consideration for any loss
of opportunity associated with the provisions herein, and that these provisions provide a reasonable way of protecting Company’s
business value which will be imparted to me. If any restriction set forth in this paragraph 4 is found by any court of competent
jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in
too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic
area as to which it may be enforceable.

 

     

     

    

  

4.2          As
used herein, the terms:

 

(i)           “Restricted
Business” shall mean the design, development, marketing or sales of products or services to treat skin cancer, or any
other process, system, product or service marketed, sold or under development by the Company at any time during my employment with
the Company. By way of example, and without limitation, the following companies are considered to be with.in the definition of
Restricted Business: iCAD, Gulmay/Xstrahl, Varian, Tomotherapy, Accuray, Elekta, and future competitors.

 

(ii)          “Restricted
Territory” shall mean any state, county, or locality in the United States in which the Company conducts business and
any other country, city, state, jurisdiction, or territory in which the Company does business.

 

5.             RECORDS.
I agree to keep and maintain adequate and current records (in the form of notes. sketches, drawings and in any other form that
may be required by the Company) of all Proprietary Information developed by me and all Inventions made by me during the period
of my employment at the Company, which records shall be available to and remain the sole property of the Company at all times.

 

6.            NO
CONFLICTING OBLIGATION. I represent that my performance of all the terms of this Agreement and as an employee of the Company
does not and will not breach any agreement to keep in confidence information acquired by me in confidence or in trust prior to
my employment by the Company. I have not entered into, and I agree I will not enter into, any agreement either written or oral
in conflict herewith .

 

7.            RETURN
OF COMPANY MATERIALS. When I leave the employ of the Company, I will deliver to the Company any and all drawings, notes, memoranda,
specifications, devices, formulas, and documents, together with all copies thereof and any other material containing or disclosing
any Company Inventions, Third Party Information or Proprietary Information of the Company. I further agree that any property situated
on the Company’s premises and owned by the Company, including disks and other storage media, filing cabinets or other work
areas, is subject to inspection by Company personnel at any time with or without notice.

 

8.            LEGAL
AND EQUITABLE REMEDIES. Because my services are personal and unique and because I may have access to and become acquainted
with the Proprietary Information of the Company, the Company shell have the right to enforce this Agreement and any of its provisions
by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies
that the Company may have fur a breach of this Agreement.

 

     

     

    

  

9.            NOTICES.
Any notices required or permitted hereunder shall be given to the appropriate party at the address specified below or at such other
address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery to the appropriate address
or if sent by certified or registered mail, three days after the date of mailing.

 

10.          NOTIFICATION
OF NEW EMPLOYER. In the event that I leave the employ of the Company, I hereby consent to the notification of my new employer
of my rights and obligations under this Agreement.

 

11.          GENERAL
PROVISIONS.

 

11.1        Governing
Law; Consent to Personal Jurisdiction and Exclusive Forum. This Agreement will be governed by and construed according to the
laws of the State of Florida without regard to conflicts of law principles. I hereby expressly understand and consent that my employment
is a transaction of business in the State of Florida and constitutes the minimum contacts necessary to make me subject to the personal
jurisdiction of the federal courts located in the State of Florida, and the state courts located in the County of Broward, Florida,
for any lawsuit filed against me by Company arising from or related to this Agreement. I agree and acknowledge that any controversy
arising out of or relating to this Agreement or the breach thereof, or any claim or action to enforce this Agreement or portion
thereof, or any controversy or claim requiring interpretation of this Agreement must be brought in a forum located within the State
of Florida.

 

11.2       Severability.
In case any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement,
and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. If
moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as
to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it, so as to be enforceable
to the extent compatible with the applicable law as it shall then appear.

 

11.3       Successors
and Assigns. This Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will
be for the benefit of the Company, its successors, and its assigns.

 

11.4        Survival.
The provisions of this Agreement shall survive the termination of my employment and the assignment of this Agreement by the Company
to any successor in interest or other assignee.

 

11.5        No
Employment Rights. I agree and understand that my employment is at-will which means I or the company each have the right to
terminate my employment at will, with or without advanced notice and with or without cause. I further agree and understand that
nothing in this Agreement shall confer any right with respect to continuation of employment by the Company, nor shall it interfere
in any way with my right or the Company’s right to terminate my employment at any time, with or without cause.

 

11.6       Waiver.
No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding or succeeding breach. No waiver by
the Company of any right under this Agreement shall be construed as a waiver of any other right. The Company shall not be required
to give notice to enforce strict adherence to all terms of this Agreement.

 

     

     

    

  

11.7       Entire
Agreement. The obligations pursuant to Sections 1 through 4 and Sections 6 and 7 (including all subparts) of this Agreement
shall apply to any time during which I was previously employed, or am in the future employed, by the Company as a consultant if
no other agreement governs nondisclosure and assignment of inventions during such period. This Agreement is the final, complete
and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior discussions
between us. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective
unless in writing and signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation
will not affect the validity or scope of this Agreement

 

This Agreement shall
be effective as of the first day of my employment with the Company, namely: August 18, 2014.

 

I HAVE READ THIS AGREEMENT
CAREFULLY AND UNDERSTAND ITS TERMS. I HAVE COMPLETELY FILLED OUT EXHIBIT A TO THIS AGREEMENT.

 

	Dated:  8/12/14	 
	 	 
	/s/ Arthur Levine	 
	 	 
	ACCEPTED AND AGREED TO:	 
	 	 
	Dated:  8/13/14	 
	 	 
	/s/ Joe SardanoExhibit 10.2

 

SENSUS HEALTHCARE, LLC 

2013 OPTION PLAN

 

SENSUS HEALTHCARE, LLC

 

2013 OPTION PLAN

 

1.           Establishment,
Effective Date and Term.

 

Sensus Healthcare,
LLC, a Delaware limited liability company (the “Grantor”), hereby establishes the Sensus Healthcare, LLC 2013 Option
Plan. The Effective Date of the Plan shall be the date that the Plan is approved by the Grantor (October 10, 2013) in accordance
with the laws of the State of Delaware and the LLC Agreement. Unless earlier terminated pursuant to Section 16(i) hereof, the Plan
shall terminate on the tenth anniversary of the Effective Date. Unless defined herein, capitalized terms used herein are defined
in Appendix A attached hereto.

 

2.           Purpose.

 

The purpose of the
Plan is to enable the Company to attract, retain, reward and motivate Eligible Individuals by providing them with an opportunity
to acquire or increase a proprietary interest in the Grantor and to incentivize them to expend maximum effort for the growth and
success of the Company, so as to strengthen the mutuality of the interests between Eligible Individuals and Members of the Grantor.

 

3.           Eligibility.

 

Options may be granted
under the Plan to any Eligible Individual, as determined by the Committee from time to time pursuant to the terms of the Plan.

 

4.           Administration
and Grant of Awards.

 

(a)           General.
The Committee shall have the power and authority to grant Options under the Plan. The Plan shall be administered by the Committee,
which shall have the full power and authority to take all actions, and to make all determinations not inconsistent with the specific
terms and provisions of the Plan and deemed by the Committee to be necessary or appropriate to the administration of the Plan,
any Option granted or any Option Agreement entered into hereunder. The Committee may correct any defect or supply any omission
or reconcile any inconsistency in the Plan or in any Option Agreement in the manner and to the extent it shall deem expedient to
carry the Plan into effect as it may determine in its sole discretion. The Committee may, if it so determines in its sole discretion,
(i) accelerate the vesting and/or exercisability of any Option granted hereunder and (ii) extend the term of any Option to the
earlier of (A) the latest date the Option could have expired under its original terms or (B) 10 years from the Grant Date. The
decisions by the Committee shall be final, conclusive and binding. Any exercise by the Committee of its power, authority and discretion
hereunder must be ratified by the majority of its members.

 

     

     

    

  

(b)           Delegation
to Officers or Employees. The Committee may designate officers or employees of the Company to assist the Committee in the administration
of the Plan. The Committee may delegate authority to officers or employees of the Company to grant Options and execute Option Agreements
or other documents on behalf of the Company in connection with the administration of the Plan, subject to whatever limitations
or restrictions the Committee may impose and in accordance with applicable law and the LLC Agreement.

 

(c)           Designation
of Advisors. The Committee may designate professional advisors to assist the Committee in the administration of the Plan. The
Committee may employ such legal counsel, consultants, and agents as it may deem desirable for the administration of the Plan and
may rely upon any advice and any computation received from any such counsel, consultant, or agent. The Company shall pay all expenses
and costs incurred by the Committee for the engagement of any such counsel, consultant, or agent.

 

(d)           Participants
Outside the U.S. In order to conform with the provisions of local laws and regulations in foreign countries in which the Company
may operate, the Committee shall have the sole discretion to: (i) modify the terms and conditions of the Options granted under
the Plan to Eligible Individuals located outside the United States; (ii) establish subplans with such modifications as may be necessary
or advisable under the circumstances presented by local laws and regulations; and (iii) take any action which it deems advisable
to comply with or otherwise reflect any necessary governmental regulatory procedures, or to obtain any exemptions or approvals
necessary with respect to the Plan or any subplan established hereunder.

 

(e)           Liability
and Indemnification. No Covered Individual shall be liable for any action or determination made in good faith with respect
to the Plan, any Option granted hereunder or any Option Agreement entered into hereunder. The Grantor shall, to the maximum extent
permitted by applicable law and the LLC Agreement, indemnify and hold harmless each Covered Individual against any cost or expense
(including reasonable attorney fees reasonably acceptable to the Grantor) or liability (including any amount paid in settlement
of a claim with the approval of the Grantor), and amounts advanced to such Covered Individual necessary to pay the foregoing at
the earliest time and to the fullest extent permitted, arising out of any act or omission to act in connection with the Plan, any
Option granted hereunder or any Option Agreement entered into hereunder. Such indemnification shall be in addition to any rights
of indemnification such individuals may have under applicable law or under LLC Agreement. Notwithstanding anything else herein,
this indemnification will not apply to the actions or determinations made by a Covered Individual with regard to Options granted
to such Covered Individual under the Plan, Option Agreements entered into by such Covered Individual or arising out of such Covered
Individual’s own fraud or bad faith.

 

(f)           LLC
Agreement Incorporated. Notwithstanding anything herein to the contrary, the Plan shall be subject to all of the terms, conditions
and restrictions set forth in the LLC Agreement, including future amendments thereto, if any, pursuant to the terms thereof, which
LLC Agreement is incorporated herein by reference as a part of this Agreement. No Interests shall be issued to any Participant
unless such Participant becomes a party to the LLC Agreement.

 

     

     

    

  

5.           Interests
Subject To Plan.

 

(a)           Interests
Available for Options. The total number of Interests that may be issued pursuant to Options granted under the Plan shall be
up to one percent (1%) of the Interests in the Grantor as set forth in Section 3.02 of the LLC Agreement.

 

(b)           Reduction
of Interests Available for Options. Upon the granting of an Option, the number of Interests available under this Section for
the granting of further Options shall be reduced by the number of Interests subject to the Option.

 

(c)           Cancelled,
Forfeited, or Surrendered Options. Notwithstanding anything to the contrary in this Plan, if any Option is cancelled, forfeited
or terminated for any reason prior to exercise or becoming vested in full, Interests that were subject to such Option shall, to
the extent cancelled, forfeited or terminated, immediately become available for future Options granted under the Plan as if said
Option had never been granted; provided, however, that any Interests subject to an Option which is cancelled, forfeited or terminated
in order to pay the Exercise Price, purchase price or any taxes or tax withholdings on an Option shall not be available for future
Options granted under the Plan.

 

(d)           Recapitalization.
If the outstanding Interests are increased or decreased or changed into or exchanged for a different number or kind of interest
or other securities of the Grantor by reason of any recapitalization, reclassification, reorganization, split, combination of Interests,
exchange of Interests, distribution payable in Interests of the Grantor, conversion of the Grantor into a different form of entity
or other increase or decrease in such Interests effected without receipt of consideration by the Grantor occurring after the Effective
Date, an appropriate and proportionate adjustment shall be made by the Committee in its sole discretion to (i) the aggregate number
and kind of interests available under the Plan; (ii) the calculation of the reduction of Interests available under the Plan; (iii)
the number and kind of interests issuable upon exercise of outstanding Options granted under the Plan; and (iv) the Exercise Price
of outstanding Options granted under the Plan.

 

6.           Grant
of Options.

 

Subject to the terms
and conditions of the Plan, the Committee may grant to such Eligible Individuals as the Grantor may determine, Options to purchase
such number of Interests and on such terms and conditions as the Committee shall determine in its sole and absolute discretion.
Each grant of an Option shall satisfy the requirements set forth in the Plan and Option Agreement.

 

7.           Exercise
Price.

 

The Exercise Price
of an Option shall be fixed by the Committee and stated in the respective Option Agreement, provided that the Exercise Price of
Interest subject to such Option may not be less than Fair Market Value of such Interests on the Grant Date.

 

     

     

    

  

8.           Limitation
on Option Period.

 

Subject to Sections
11 and 12, Options granted under the Plan and all rights to purchase Interests thereunder shall terminate no later than the 10th
anniversary of the Grant Date of such Options, or on such earlier date as may be stated in the Option Agreement relating to such
Option. In the case of Options expiring prior to the 10th anniversary of the Grant Date, the Committee may in its discretion,
at any time prior to the expiration or termination of said Options, extend the term of any such Options for such additional period
as it may determine, but in no event beyond the 10th anniversary of the Grant Date thereof.

 

9.           Vesting
Schedule and Conditions.

 

No Options may be exercised
prior to becoming vested. Unless otherwise provided by the Committee in the Option Agreement, the Options shall fully vest on the
fifth anniversary of the Grant Date, if and only if the Participant is, and has been, continuously employed by or providing services
to the Company as of the fifth anniversary of the Grant Date, as determined by the Committee in its sole discretion. No portion
of the Option shall vest prior to the fifth anniversary of the Grant Date. Notwithstanding the foregoing (i) Options shall fully
vest as of the time of a Change in Control if the Participant is, and has been, continuously employed by or providing services
to the Company as of such time;

 

(i)           Options
shall fully vest and be deemed outstanding as of the time of a Change in Control if the Participant is, and has been, continuously
employed by or providing services to the Company as of the date that is within 90 days prior to a Change in Control and the Participant’s
employment and any other service with the Company was terminated by the Company without Cause.

 

10.         Exercise.

 

(a)           Notice.
Prior to exercise of the Option, the Participant shall deliver to Grantor a written notice, in the form acceptable to the Grantor,
stating that the Participant is exercising the Option and specifying the number of Interests which are to be purchased pursuant
to the Option. An attempt to exercise any Option granted hereunder other than as set forth in the Plan shall be invalid and of
no force and effect.

 

(b)           Payment.
Unless otherwise provided by the Committee, the Exercise Price as well as any tax that the Company may be required to transmit
to any government entity/agency in connection with Option exercise (the amount to be paid with respect to such tax to be determined
by the Committee in its sole discretion) must be paid to Company in before the applicable exercise date. Payment of the Exercise
Price for the Interests pursuant to the exercise of an Option shall be made by one of the following methods:

 

(i)           by
wire transfer, certified or cashier’s check, bank draft or money order;

 

(ii)         by
any other method which the Committee, in its sole and absolute discretion and to the extent permitted by applicable law and the
LLC Agreement, may permit.

 

     

     

    

  

(c)           Certificates
and Certificate Legend. With respect to Interests purchased pursuant to Options issued under this Plan, each certificate representing
Interests shall bear the following legends or any other legend consistent with the provisions of the Plan and the Option Agreement
the Committee deems appropriate in its discretion:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE BEEN ACQUIRED FROM SENSUS HEALTHCARE, LLC, A DELAWARE LIMITED LIABILITY COMPANY (the “COMPANY”)
WITHOUT BEING REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND ARE RESTRICTED SECURITIES
AS THAT TERM IS DEFINED UNDER RULE 144, PROMULGATED UNDER THE SECURITIES ACT. THESE SECURITIES MAY NOT BE SOLD, PLEDGED, TRANSFERRED,
DISTRIBUTED, OR OTHERWISE DISPOSED OF IN ANY MANNER (“TRANSFER”) UNLESS SUCH SECURITIES ARE REGISTERED UNDER THE SECURITIES
ACT OR EXCEPT PURSUANT TO A VALID EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS AS EVIDENCED BY AN OPINION OF COUNSEL, REASONABLY
SATISFACTORY TO THE COMPANY, STATING THAT THE TRANSFER WILL NOT RESULT IN A VIOLATION OF THE SECURITIES ACT.

 

THE SALE OR OTHER TRANSFER OF INTERESTS
REPRESENTED BY THIS CERTIFICATE, WHETHER VOLUNTARY, INVOLUNTARY, OR BY OPERATION OF LAW, ARE SUBJECT TO CERTAIN TERMS, CONDITIONS,
AND RESTRICTIONS ON TRANSFER AS SET FORTH IN THE SENSUS HEALTHCARE, LLC 2013 OPTION PLAN (THE “PLAN”), IN AN AGREEMENT
ENTERED INTO BY AND BETWEEN THE REGISTERED OWNER OF SUCH INTERESTS AND THE COMPANY, DATED(THE “OPTION AGREEMENT”)
AND LIMITED LIABILITY COMPANY AGREEMENT OF SENSUS HEALTHCARE, LLC. A COPY OF THE PLAN AND THE OPTION AGREEMENT MAY BE OBTAINED
FROM THE SECRETARY OF THE COMPANY.”

 

11.         Termination
of Employment or Service.

 

Subject to Section
9 hereof or unless otherwise provided in an Option Agreement, in the event the Participant’s employment and other services
for the Company are terminated (including due to termination with or without Cause, death or disability), all of the Participant’s
outstanding Options (whether vested or unvested) shall be subject to the rules of this paragraph.

 

Upon termination of
the Participant’s employment and other services for the Company, the Participant’s unvested Options shall expire. Upon
any termination (including termination due to death or disability) other than termination by the Company without Cause: (i) all
of the Participant’s Options (vested or unvested) shall expire; and (ii) any Option Interests acquired by the Participant
through Option exercise that took place within thirty (30) days immediately preceding the date of such termination of employment
and services, shall be forfeited to the Grantor and the Exercise Price paid by the Participant (other than the Exercise Price paid
by virtue of the Grantor withholding Option Interests) shall be returned to the Participant.

 

     

     

    

  

Any Option held by
a Participant at termination, may be exercised by the Participant, to the extent (i) exercisable at termination and (ii) not forfeited
in connection with such termination, provided that the notice of such exercise is given to the Grantor no later than 30 days following
termination, but in no event can an Option be exercised after the termination of the Option pursuant to Section 8 hereof. Unless
otherwise determined by the Committee, temporary absence from employment or service because of illness, vacation, approved leaves
of absence or military service shall not constitute a termination of employment or other service.

 

12.         Change
in Control.

 

Unless otherwise provided
in an Option Agreement, as of a Change in Control all the outstanding Options shall terminate and shall be deemed exercised through
“cashless exercise”, whereby the Participant shall be entitled to the number of Interests equal to the number of Interests
subject to the Option, reduced by the number of Interests the cumulative Fair Market Value of which equals to the cumulative Exercise
Price of the Option. For purposes of the immediately preceding sentence, the Fair Market Value shall be determined as of the time
immediately prior to a Change in Control.

 

13.         Change
in Status of Parent or Subsidiary.

 

Unless otherwise provided
in an Option Agreement, in the event that an entity or business unit which was previously a part of the Company is no longer a
part of the Company, as determined by the Committee in its sole discretion, the Participant service’s with the Company shall
be deemed terminated for purposes of the Plan. The Committee may, in its sole and absolute discretion, treat the service of a Participant
employed by such entity or business unit as service with the Company.

 

14.         Company’s
Right To Purchase Award Interests.

 

Unless otherwise provided
in an Option Agreement, the Grantor shall have the right to repurchase the Option Interests issued with respect to any Participant
following such Participant’s termination of employment and service with the Company, at a price for the Option Interests
equal to the lesser of: (i) the Fair Market Value of such Option Interests, as determined on the day of such termination, or (ii)
Exercise Price paid by the Participant (other than the Exercise Price paid by virtue of the Grantor withholding Option Interests)
for such Option Interests, provided that the Grantor notifies the Participant of its intent to exercise such right within 90 days
of termination. The right of the Grantor to repurchase the Option Interests pursuant to this Section 14 shall terminate upon the
occurrence of a Change in Control.

 

15.         Requirements
of Law.

 

(a)           Violations
of Law. The Grantor shall not be required to sell or issue any Interests under any Option if the sale or issuance of such Interests
would constitute a violation by the individual exercising the Option, the Participant or the Company of any provisions of any law,
rule or regulation of any stock exchange or automated quotation system on which the Interests may be listed or traded or governmental
authority, including without limitation, any provisions of the Sarbanes-Oxley Act, and any other federal or state securities laws
or regulations. Any determination in this connection by the Committee shall be final, binding, and conclusive. The Company shall
not be obligated to take any affirmative action in order to cause the exercise of an Option, the issuance of Interests pursuant
thereto or the grant of an Option to comply with any law or regulation of any governmental authority.

 

     

     

    

  

(b)           Registration.
At the time of any exercise or receipt of any Option, the Grantor may, if it shall determine it necessary or desirable for any
reason, require the Participant (or Participant’s heirs, legatees or legal representative, as the case may be), as a condition
to the exercise or grant thereof, to deliver to the Grantor a written representation of present intention to hold the Interests
for their own account as an investment and not with a view to, or for sale in connection with, the distribution of such Interests,
except in compliance with applicable federal and state securities laws with respect thereto. In the event such representation is
required to be delivered, an appropriate legend may be placed upon each certificate delivered to the Participant (or Participant’s
heirs, legatees or legal representative, as the case may be) upon the Participant’s exercise of part or all of the Option
or receipt of an Option and a stop transfer order may be placed with the transfer agent. Each Option shall also be subject to the
requirement that, if at any time the Grantor determines, in its discretion, that the listing, registration or qualification of
the Interests subject to the Option upon any securities exchange or under any state or federal law, or the consent or approval
of any governmental regulatory body, is necessary or desirable as a condition of or in connection with, the issuance or purchase
of the Interests thereunder, the Option may not be exercised in whole or in part and the restrictions on an Option may not be removed
unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions
not acceptable to the Grantor in its sole discretion. Each Participant shall be obligated to cooperate with the Grantor and any
underwriters in connection with any public offering of the Grantor’s securities and any transactions relating thereto and
shall execute and deliver any such agreements and documents (“Market Standoff Agreements”), including without limitation,
a lock-up agreement, as may be reasonably requested by the Grantor or the underwriters relating to securities of the Grantor held
by the Participant (including without limitation all Interests held by the Participant), in form and content specified by the Grantor.
In the event that a Participant fails to enter into Market Standoff Agreements as provided herein, then the Participant shall automatically
be deemed subject to such terms and restrictions with respect to such securities as may be specified by the Grantor. The Participant
shall provide the Grantor with any certificates, representations and information that the Grantor requests and shall otherwise
cooperate with the Grantor in obtaining any listing, registration, qualification, consent or approval that the Grantor deems necessary
or appropriate.

 

(c)           Withholding.
The Committee may make such provisions and take such steps as it may deem necessary or appropriate for the withholding of any taxes
that the Company is required by any law or regulation of any governmental authority, whether federal, state or local, domestic
or foreign, to withhold in connection with the grant or exercise of an Option, or the removal of restrictions on an Option including,
but not limited to: (i) canceling of any number of Interests issuable in an amount sufficient to reimburse the Company for the
amount it is required to so withhold; (ii) withholding the amount due from any such person’s wages or compensation due to
such person; or (iii) requiring the Participant to pay the Company cash in the amount the Company is required to withhold with
respect to such taxes.

 

     

     

    

  

(d)           Governing
Law. The Plan shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida.

 

16.         General
Provisions.

 

(a)           Option
Agreements. All Options granted pursuant to the Plan shall be evidenced by an Option Agreement. Each Option Agreement shall
specify the terms and conditions of the Option granted and shall contain any additional provisions as the Committee shall deem
appropriate, in its sole and absolute discretion (including, to the extent that the Committee deems appropriate, provisions relating
to confidentiality, non-competition, non- solicitation and similar matters). The terms of each Option Agreement need not be identical
for Eligible Individuals provided that all Option Agreements comply with the terms of the Plan.

 

(b)           Distributions.
Participant shall not be entitled to receive, currently or on a deferred basis any distributions with respect to Interests covered
by an Option.

 

(c)           Prospective
Employees. Notwithstanding anything to the contrary, any Option granted to a Prospective Employee shall not become vested prior
to the date the Prospective Employee commences performing services for the Company.

 

(d)           Issuance
of Certificates; Member Rights. Company may deliver to the Participant a certificate evidencing the Participant’s ownership
of Interests issued pursuant to the exercise of an Option as soon as administratively practicable after satisfaction of all conditions
relating to the issuance of such Interests. A Participant shall not have any of the rights of a Member with respect to such Interests
prior to satisfaction of all conditions relating to the issuance of such Interests, and, except as expressly provided in the Plan,
no adjustment shall be made for distributions of any kind for which the record date is prior to the date on which all such conditions
have been satisfied.

 

(e)           Transferability
of Options. A Participant may not Transfer an Option. Options may be exercised during the Participant’s lifetime only
by the Participant. No Option shall be liable for or subject to the debts, contracts, or liabilities of any Participant, nor shall
any Option be subject to legal process or attachment for or against such person. Any purported Transfer of an Option in contravention
of the provisions of the Plan shall have no force or effect and shall be null and void, and the purported transferee of such Option
shall not acquire any rights with respect to such Option.

 

(f)           Buyout
and Settlement Provisions. The Committee may at any time on behalf of Company offer to buy out any Options previously granted
based on the fair market value of the Options at the time of the offer.

 

(g)           Use
of Proceeds. The proceeds received by Company from the sale of Interests pursuant to Options granted under the Plan shall constitute
general funds of Company.

 

     

     

    

  

(h)           Modification
or Substitution of an Option. Subject to the terms and conditions of the Plan, the Committee may modify outstanding Options.
Notwithstanding the following, unless explicitly provided for in the Plan, no modification of an Option shall materially adversely
affect any rights or obligations of the Participant under the applicable Option Agreement without the Participant’s consent.
The Committee in its sole and absolute discretion may rescind, modify, or waive any vesting requirements or other conditions applicable
to an Option.

 

(i)           Amendment
and Termination of Plan. The Board of Managers may, at any time and from time to time, amend, suspend or terminate the Plan
as to any Interests as to which Options have not been granted, provided that such action by the Board of Managers shall comply
with applicable federal or state law, the LLC Agreement or with the rules of any stock exchange or automated quotation system on
which the Interests may be listed or traded. Except as explicitly permitted herein, no amendment, suspension or termination of
the Plan shall, without the consent of the holder of an Option, materially alter or impair rights or obligations under any Option
theretofore granted under the Plan. Options granted prior to the termination of the Plan may extend beyond the date the Plan is
terminated and shall continue subject to the terms of the Plan as in effect on the date the Plan is terminated.

 

(j)           Section
409A of the Code. The Plan is intended not to provide for deferral of compensation for purposes of Section 409A of the Code.
The provisions of the Plan shall be interpreted in a manner that promotes such intent expressed in the immediately preceding sentence
and the Plan shall be operated accordingly. If any provision of the Plan or any term or condition of any Option would otherwise
frustrate or conflict with this intent, the provision, term or condition will be interpreted and deemed amended so as to avoid
this conflict.

 

In the event that following
the application of the immediately preceding paragraph, any Option is subject to Section 409A of the Code, the provisions of Section
409A of the Code and the regulations issued thereunder are incorporated herein by reference to the extent necessary for any Option
that is subject Section 409A of the Code to comply therewith. In such event, the provisions of the Plan shall be interpreted in
a manner that satisfies the requirements of Section 409A of the Code and the related regulations, and the Plan shall be operated
accordingly. If any provision of the Plan or any term or condition of any Option would otherwise frustrate or conflict with this
intent, the provision, term or condition will be interpreted and deemed amended so as to avoid this conflict.

 

Notwithstanding any other
provisions of the Plan, the Company does not guarantee to any Participant or any other person that any Option intended to be exempt
from Section 409A of the Code shall be so exempt, nor that any Option intended to comply with Section 409A of the Code shall so
comply, nor will the Company indemnify, defend or hold harmless any individual with respect to the tax consequences of any such
failure.

 

(k)           Disclaimer
of Rights. No provision in the Plan, any Option granted hereunder, or any Option Agreement entered into pursuant to the Plan
shall be construed to confer upon any individual the right to remain in the employ of or other service with the Company or to interfere
in any way with the right and authority of the Company either to increase or decrease the compensation of any individual, including
any holder of an Option, at any time, or to terminate any employment or other relationship between any individual and the Company.
The grant of an Option pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations or changes of its capital or business structure or to merge, consolidate, dissolve or liquidate,
or to sell or transfer all or any part of its business or assets.

 

     

     

    

  

(l)           Unfunded
Status of Plan. The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation.
With respect to any payments as to which a Participant has a fixed and vested interest but which are not yet made to such Participant
by the Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor
of the Company.

 

(m)           Nonexclusivity
of Plan. The adoption of the Plan shall not be construed as creating any limitations upon the right and authority of the Company
to adopt such other incentive compensation arrangements (which arrangements may be applicable either generally to a class or classes
of individuals or specifically to a particular individual or individuals) as the Company in its sole and absolute discretion determines
desirable.

 

(n)           Other
Benefits. Unless otherwise required by applicable law, no payment, award or distribution under the Plan shall be deemed compensation
for purposes of any arrangement between the Company and Participant, including computing benefits under any retirement plan of
the Company or any agreement or arrangement between a Participant and the Company.

 

(o)           Headings.
The section headings in the Plan are for convenience only; they form no part of this Plan and shall not affect its interpretation.

 

(p)           Pronouns.
The use of any gender in the Plan shall be deemed to include all genders, and the use of the singular shall be deemed to include
the plural and vice versa, wherever it appears appropriate from the context.

 

(q)           Successors
and Assigns. The Plan shall be binding on all successors of the Company and all permitted successors and assigns of a Participant.

 

(r)           Severability.
If any provision of the Plan or any Option Agreement shall be determined to be illegal or unenforceable by any court of law in
any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms,
and all provisions shall remain enforceable in any other jurisdiction.

 

(s)           Notices.
Any communication or notice required or permitted to be given under the Plan shall be in writing, and mailed by registered or certified
mail or delivered by hand, to the Grantor, to its principal place of business, attention: General Counsel, and if to the holder
of an Option, to the address as appearing on the records of the Company.

 

(t)           No
limitation on Company Transactions. The existence of the Plan and any awards granted hereunder shall not affect in any way
the right or power of the Company, Grantor and their equity holders to make, engage in or authorize any adjustment, recapitalization,
reorganization or other change in the Company’s or Grantor’s capital structure or its business, any merger or consolidation
of the Company, Grantor or an affiliate, any issue of debt or securities, the dissolution or liquidation of the Company or its
affiliates, any sale or transfer of all or part of its assets or business or any other act or proceeding.

 

     

     

    

  

APPENDIX A

 

DEFINITIONS

 

“Board of Managers”
means the Board of Managers of the Grantor.

 

“Cause”
means, solely with respect to the Plan, a termination of employment or other service with the Company due to a Participant’s
dishonesty, fraud, theft of the Company property, willful misconduct, abandonment or gross neglect by Participant of Participant’s
duties for the Company, death or disability; provided, however, that if the Participant and the Company have entered into
an employment agreement or consulting agreement which defines the term Cause, the term Cause shall be defined in accordance with
such agreement with respect to any Option granted to the Participant on or after the effective date of the respective employment
or consulting agreement. The Committee shall determine in its sole and absolute discretion whether Cause exists for purposes of
the Plan.

 

“Change in Control”
means

 

(a)           any
Person, (other than the Grantor, any trustee or other fiduciary holding securities under any employee benefit plan of the Grantor,
any company owned, directly or indirectly, by members of the Grantor in substantially the same proportions as their ownership of
membership interests in the Grantor), becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of the Grantor representing fifty percent (50%) or more of the value of the Grantor’s
then outstanding securities (the “Majority Owner”); provided, however, that no Change in Control shall occur under
this paragraph (a) unless a Person who was not a Majority Owner at some time after the Effective Date becomes a Majority Owner
after the Effective Date;

 

(b)           a
merger, consolidation, reorganization, or other business combination of the Grantor with any other entity, other than a merger
or consolidation which would result in the securities of the Grantor outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent
(50%) by value of the securities of the Grantor or such surviving entity outstanding immediately after such merger or consolidation;

 

(c)           the
consummation of the sale or disposition by the Grantor of all or substantially all of the Grantor’s assets other than (x)
the sale or disposition of all or substantially all of the assets of the Grantor to a Person or Persons who beneficially own, directly
or indirectly, at least fifty percent (50%) or more of the securities of the Grantor by value at the time of the sale or (y) pursuant
to a spin-off type transaction, directly or indirectly, of such assets to the members of the Grantor; or

 

(d)           an
IPO.

 

Change in Control shall
refer solely to the first such Change in Control following the Effective Date.

 

     

     

    

  

“Code”
means the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.

 

“Committee”
shall mean Joseph C. Sardano, Stephen Cohen, Richard Golin, Kalman Fishman and Stephen Arnold. In the event any of the above-referenced
individuals (i) is no longer performing services for the Company, and (ii) no longer holds any Interests, such individual shall
immediately cease to be a part of the Committee. If no person remains on the Committee, the functions of the Committee will be
exercised by the Board of Managers.

 

“Company”
means the Grantor, the subsidiaries of the Grantor and all other entities whose financial statements are required to be consolidated
with the financial statements of the Grantor pursuant to United States generally accepted accounting principles, and any other
entity determined to be an affiliate of the Grantor as determined by the Grantor in its sole and absolute discretion.

 

“Covered Individual”
means any current or former member of the Committee or of the Board of Managers or any individual designated pursuant to Section
4(c).

 

“Eligible Individual”
means any employee, officer, director (employee or non-employee director), independent contractor or consultant of the Company
and any Prospective Employee to whom Options are granted in connection with an offer of future engagement with the Company.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

“Exercise Price”
means the purchase price per Interest subject to an Option.

 

“Fair Market
Value” means, unless otherwise required by the Code, as of any date, the last sales price reported for the Interest on the
day immediately prior to such date (i) as reported by the national securities exchange in the United States on which it is then
traded; or (ii) if not traded on any such national securities exchange, as quoted on an automated quotation system sponsored by
the National Association of Securities Dealers, Inc., or if the Interest shall not have been reported or quoted on such date, on
the first day prior thereto on which the Interest was reported or quoted; provided, however, that Grantor may modify the
definition of Fair Market Value to reflect any changes in the trading practices of any exchange or automated system sponsored by
the National Association of Securities Dealers, Inc. on which the Interests is listed or traded. If the Interests are not readily
traded on a national securities exchange or any system sponsored by the National Association of Securities Dealers, Inc., the Fair
Market Value shall be determined in good faith by the Committee in its sole discretion. Notwithstanding anything in the foregoing
paragraph, Fair Market Value shall be determined consistent with Section 409A of the Code.

 

“Grant Date”
means the date on which the Grantor approves the grant of an Option or such later date as is specified by the Grantor and set forth
in the applicable Option Agreement. Notwithstanding anything in the foregoing paragraph, Fair Market Value shall be determined
consistent with Section 409A of the Code.

 

“Grantor”
means Sensus Healthcare, LLC, a Delaware limited liability company and its successors.

 

     

     

    

  

“Interest(s)”
means Interest(s) of the Grantor, as defined in the LLC Agreement and unless the context otherwise requires, any securities or
other property into which the Interests may be converted or exchanged.

 

“IPO” means
the completion by the Grantor an underwritten initial public offering of the Interests pursuant to an effective registration statement
filed with the Securities and Exchange Commission (an “Initial Public Offering”).

 

“LLC Agreement”
means Limited Liability Company Agreement of Sensus Healthcare, LLC, a Delaware Limited Liability Company, as it may be amended
from time to time.

 

“Member”
means Member as defined in the LLC Agreement.

 

“Option”
means an option to purchase Interests granted pursuant to the Plan.

 

“Option Agreement”
means a written agreement entered into by the Grantor and a Participant setting forth the terms and conditions of the grant of
an Option to such Participant.

 

“Option Interests”
shall mean Interests issued upon the exercise of an Option hereunder.

 

“Participant”
means any Eligible Individual who holds an Option under the Plan and any of such individual’s successors or permitted assigns.

 

“Person”
shall mean any person, corporation, partnership, joint venture, limited liability company or other entity or any group (as such
term is defined for purposes of Section 13(d) of the Exchange Act), other than an entity that is part of the Company.

 

“Plan”
means this Sensus Healthcare, LLC 2013 Option Plan.

 

“Prospective
Employee” means any individual who has committed to become an employee or other service provider of the Company within sixty
(60) days from the date an Option is granted to such individual.

 

“Transfer”
means, as a noun, any direct or indirect, voluntary or involuntary, exchange, sale, bequeath, pledge, mortgage, hypothecation,
encumbrance, distribution, transfer, gift, assignment or other disposition or attempted disposition of, and, as a verb, directly
or indirectly, voluntarily or involuntarily, to exchange, sell, bequeath, pledge, mortgage, hypothecate, encumber, distribute,
transfer, give, assign or in any other manner whatsoever dispose or attempt to dispose of.

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