Document:

EX-10.1

 Exhibit 10.1 

STILLWATER MINING COMPANY INDEPENDENT DIRECTOR 

DEFERRED SHARE UNIT PLAN 

PURPOSE 
 This
Stillwater Mining Company Independent Director Deferred Share Unit Plan (the “Plan”) is intended to be a component of total remuneration of Independent Directors of Stillwater Mining Company (the “Company”) in the
form of a share-priced related instrument that aligns the interests of the Board and of Company shareholders. 
 ARTICLE 1.

 DEFINITIONS 
 The
following words and phrases have the meaning set forth below: 
  

	1.1	Annual Fees mean the annual cash fees payable by the Company to an Independent Director with respect to his or her service as a member of the Board, and includes the annual retainer, meeting fees, fees for
service in a leadership capacity with respect to the Board or a committee, and any other fees for such service (but not reimbursement for expenses) during a 12 month period. Or pro-rata portion thereof. 

 

	1.2	Award means a grant of DSUs as provided under Section 4.1 of the Plan. 

  

	1.3	Award Agreement means an agreement by, and between, an Independent Director and the Company evidencing the terms of an Award and entered into pursuant to the terms of this Plan. 

 

	1.4	Board means the Company’s Board of Directors (as constituted from time to time). 

  

	1.5	Code means the Internal Revenue Code of 1986, as it may be amended from time to time. Any reference to a section of the Code will be deemed to include a reference to any regulations promulgated thereunder.

  

	1.6	Committee means the Nominating and Governance Committee of the Board. 

  

	1.7	Company means Stillwater Mining Company, including any successor thereto. 

  

	1.8	DSU means a compensatory unit which represents a promise by the Company to deliver cash equal to the Fair Market Value of one Share for each DSU in accordance with Article 5 and arising from an
Award under Section 4.1 of the Plan or a deferral of Annual Fees under Section 4.2 of the Plan 

  

	1.9	DSU Account means the recordkeeping account established by the Company for each Independent Director and into which DSUs are credited. 

 

	1.10	Effective Date means January 1, 2014. 

  

			
	 Stillwater Mining Company Independent Director Deferred Share Unit Plan

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	1.11	Fair Market Value means, as of any date, the value of the Shares as follows. 

  

	 	(a)	If the Shares are listed on any established stock exchange or a national market system, including, without limitation, the New York Stock Exchange or the Toronto Stock Exchange, the Fair Market Value will be the closing
price of a Share on the New York Stock Exchange (or if no sales were reported, the closing price on the date immediately preceding such date) as quoted on such exchange or system on the day of determination, as reported in The Wall Street
Journal or such other source as the Compensation Committee deems reliable. 

  

	 	(b)	In the absence of an established market for the Shares, the Fair Market Value will be determined in good faith by the Compensation Committee and such determination will be conclusive and binding on all persons.

  

	1.12	Grant Date means the date the Committee approves an Award pursuant to Section 4.1. 

  

	1.13	Independent Director means a member of the Board who is not an employee of the Company. 

  

	1.14	Plan means this Stillwater Mining Company Independent Director Deferred Share Unit Plan, as set forth herein, and as amended from time to time. 

 

	1.15	Section 409A means Section 409A of the Code and all authoritative interpretive guidance issued thereunder. 

  

	1.16	Separation from Service means an Independent Director ceasing to be a member of the Board due to a voluntary or involuntary separation from service, for any reason, determined by the Committee in
accordance with Section 409A. 

  

	1.17	Share means a share of the Company’s common stock, par value $.01. 

ARTICLE 2. 

ADMINISTRATION 
 The Plan
will be administered by the Committee which has the authority to construe and interpret the Plan, prescribe, amend and rescind rules relating to the Plan’s administration and take any other actions necessary or desirable for the administration
of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency or ambiguity in the Plan. The decisions of the Committee are final and binding on all persons. All expenses of administering the Plan will be
borne by the Company. 
 ARTICLE 3. 

ELIGIBILITY 
 Each
Independent Director is eligible to receive an Award of DSUs and to defer his or her Annual Fees into DSUs as provided hereunder. 

ARTICLE 4. 
 DSUs

  

	4.1	 DSU Grants. At the recommendation of the Board, grants of DSUs under this Plan may be made at such time and in such amounts as the Committee
may determine as evidenced by an 

  

			
	 Stillwater Mining Company Independent Director Deferred Share Unit Plan

Prepared by Holland & Hart LLP
	  	1/1/2014    2

	 	
Award Agreement and which may be in addition to the Independent Director’s Annual Fees. Such grants are presumed to be made in respect of a 12-month period of service and may be
granted/adjusted on a pro-rata basis should an Independent Director have a partial year of service. For illustrative purposes only, a template Award Agreement is attached hereto as Exhibit A. 

 

	4.2	Deferral of Annual Fees. Each year, an Independent Director may irrevocably elect to defer up to 100% of his or her Annual Fees in the form of DSUs and to have such DSUs credited to his or her DSU Account.

  

	 	(a)	DSU Calculation. The number of DSUs credited to an Independent Director’s DSU Account will be determined by dividing the dollar amount of the percentage of deferred Annual Fees otherwise payable to
the Independent Director by the Fair Market Value of a Share on each date such fee would have been paid 

  

	 	(b)	Election. Each Independent Director who elects to defer all or a portion of his or her Annual Fees must file an irrevocable written election with the Company (in the form required by the Committee) no
later than December 31 of the year preceding the year to which the deferral election relates; provided, however, that any newly elected or appointed Independent Director may file an election for any year not later than 30 days after the date
such person first becomes an Independent Director, which election (if any) will apply only to the portion of Annual Fees which relates to services performed after the date of filing the election. The irrevocable written election must specify a
percentage, up to a maximum of 100% of the Independent Director’s Annual Fees. For illustrative purposes only, a template deferral election form is attached hereto as Exhibit B. 

 

	4.3	DSU Account. A book entry account will be maintained for each Independent Director who receives an Award under this Plan or defers his or her Annual Fees in accordance with Section 4.2, which will
show the total DSUs credited to an Independent Director (and price upon award). 

  

	4.4	Account Ownership. All DSUs are fully and immediately owned upon credit to an Independent Director’s DSU Account. 

  

	4.5	Voting and Dividends. An Independent Director does not have a right to vote any Shares underlying DSUs. Should cash dividends or distributions be paid on Shares during the period when DSUs are outstanding and
prior to payment or settlement, each DSU Account will be credited with additional DSUs. The additional DSUs to be credited will be calculated by dividing the aggregate dividends or distributions that would have been paid to the Independent Director
if the Independent Director held the Shares underlying the DSUs, by the Fair Market Value of one Share on the date on which the dividends or distributions were paid. 

 

	4.6	Fractional Shares. Fractional DSUs, to four decimal places, may be credited under the Plan. 

  

	4.7	 Adjustments. If the number of outstanding Shares of the Company is increased or decreased as a result of a stock split, consolidation or
recapitalization and not as a result of the issuance of Shares for additional consideration or by way of stock dividend, the Committee may make appropriate adjustments to the number of DSUs credited to an Independent Director’s DSU

  

			
	 Stillwater Mining Company Independent Director Deferred Share Unit Plan

Prepared by Holland & Hart LLP
	  	1/1/2014    3

	 	
Account. Any determinations by the Committee as to the required adjustments will be made in the sole and absolute discretion and all such adjustments will be conclusive and binding for all
purpose under the Plan. 

 ARTICLE 5. 

DSU SETTLEMENT 
  

	5.1	Settlement Date. The entire balance of an Independent Director’s DSU Account will be payable upon such Independent Director’s Separation from Service. 

 

	5.2	Settlement Form and Amount. The Fair Market Value of each vested DSU (or fraction thereof) credited to an Independent Director’s DSU Account as of the Independent Director’s date of Separation from
Service is payable in lump sum, in cash. 

  

	5.3	Beneficiary. In the event of an Independent Director’s death before settlement, the amount payable to the Independent Director under the Plan will be paid to the Independent Director’s beneficiary as
soon as administratively practicable following the date of the Independent Director’s death, such date to be treated as the Independent Director’s Separation from Service for purposes of Article 5. Each Independent Director may,
from time to time, name a beneficiary or beneficiaries (who may be named contingently or successively) to whom any amount payable under the Plan is to be paid in case of an Independent Director’s death before he or she receives such benefit.
Each such designation revokes all prior designations by the same Independent Director, must be in a form prescribed by the Committee, and will be effective only when filed by the Independent Director in writing with the Committee during the
Independent Director’s lifetime. Beneficiaries may be changed without notice to prior beneficiaries. In the absence of any such designation, amounts payable under the Plan remaining unpaid at the Independent Director’s death will be paid
to the Director’s spouse, or if none, to the Independent Director’s estate. 

 ARTICLE 6. 

GENERAL PROVISIONS 
  

	6.1	Unfunded Obligations. The amounts to be paid to Independent Directors under the Plan are unfunded obligations of the Company. The Company is not required to segregate any monies or other assets from its general
funds with respect to these obligations. Independent Directors do not have any preference or security interest in any assets of the Company other than as a general unsecured creditor. 

 

	6.2	No Right to Continued Board Membership. Neither the Plan nor any compensation paid hereunder will confer on any Independent Director the right to continue to serve as a member of the Board or in any other
capacity. 

  

	6.3	Nonassignment. Any and all rights of an Independent Director respecting payments under this Plan may not be assigned, transferred, pledged or encumbered in any manner, and any attempt to do so will be void.

  

	6.4	Successors and Assigns. The Plan is binding on the Company and its successors and assigns. 

  

	6.5	Compliance With Law. The obligations of the Company with respect to payments under the Plan are subject to compliance with all applicable laws and regulations. 

  

			
	 Stillwater Mining Company Independent Director Deferred Share Unit Plan

Prepared by Holland & Hart LLP
	  	1/1/2014    4

	6.6	Term of Plan. This Plan will remain in effect until it is revised or terminated by further action of the Committee. 

  

	6.7	Termination and Amendment. The Committee may at any time amend or modify this Plan in whole or in part. Notwithstanding the foregoing, no amendment or termination of the Plan may impair the right of an
Independent Director to receive any amounts accrued hereunder prior to the effective date of such amendment or termination. 

  

	6.8	Applicable Law. To the extent not preempted by federal law, the law of the State of Montana governs all questions concerning the construction, validity and interpretation of the Plan, without regard to such
state’s conflict of law rules. 

  

	6.9	Section 409A. This Plan is intended to comply with Section 409A and will be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties
under Section 409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Plan comply with Section 409A and in no event will the Company be liable for all or any portion of
any taxes, penalties, interest or other expenses that may be incurred by the Independent Director on account of non-compliance with Section 409A. 

  

	6.10	Withholding. To the extent required by applicable federal, state or local law, an Independent Director must make arrangements satisfactory to the Company for the payment of any withholding or similar tax
obligations that arise in connection with the Plan. 

  

	6.11	Severability. If any provision of the Plan is for any reason held to be invalid or unenforceable, such invalidity or unenforceability will not affect any other provision hereof, and the Plan will be construed as
if such invalid or unenforceable provision were omitted. 

  

	6.12	Headings. The headings of sections herein are included solely for convenience and will not affect the meaning of any of the provisions of the Plan. 

 

			
	STILLWATER MINING COMPANY
		
	By:	 	 /s/ Mick McMullen

		
	Title:	 	 President and CEO

		
	Date:	 	 August 19, 2014

  

			
	 Stillwater Mining Company Independent Director Deferred Share Unit Plan

Prepared by Holland & Hart LLP
	  	1/1/2014    5

 EXHIBIT A 

STILLWATER MINING COMPANY 

INDEPENDENT DIRECTOR DEFERRED SHARE UNIT PLAN

 AWARD AGREEMENT 

This Deferred Share Unit Award Agreement (this “Agreement”) is made and entered into as of [GRANT DATE] (the
“Grant Date”) by and between Stillwater Mining Company (“Company”) and [DIRECTOR NAME] (the “Independent Director”). The Company has adopted the Stillwater Mining Company Independent Director
Deferred Share Unit Plan (the “Plan”) pursuant to which awards of Deferred Share Units (“DSUs”) may be granted, and the Nominating and Governance Committee (the “Committee”) has determined that it
is in the best interests of the Company and its shareholders to grant the award of DSUs provided for herein. 
  

	1.	Grant of Deferred Share Units. Pursuant to Section 4.1 of the Plan, the Committee hereby grants to the Independent Director on the Grant Date an Award consisting of, in the aggregate, value in the form of
[NUMBER] DSUs. Each DSU represents the right to receive, in cash, the Fair Market Value of one Share, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the
meaning ascribed to them in the Plan. 

  

	2.	Consideration. The grant of the DSUs is made in consideration of the services to be rendered by the Independent Director to the Company. 

 

	3.	Account Ownership. The DSUs in an Independent Director’s DSU account are fully and immediately owned as of the date of credit to the account. 

 

	4.	Restrictions. Subject to any exceptions set forth in the Plan, the DSUs or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the
Independent Director. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the DSUs or the rights relating thereto will be wholly ineffective and any attempt to do so will be void. 

 

	5.	Rights as Shareholder; Dividend Equivalents. The Independent Director will not have any voting rights of a shareholder with respect to the Shares underlying the DSUs. Whenever cash dividends or distributions are
paid on Shares during the period when DSUs hereunder are outstanding and prior to forfeiture, payment or settlement, each DSU Account will be credited with additional DSUs. The additional DSUs to be credited will be calculated by dividing the
aggregate dividends or distributions that would have been paid to the Independent Director if the Independent Director held the Shares underlying the DSUs, by the Fair Market Value of one Share on the date on which the dividends or distributions
were paid. Such additional DSUs will be subject to all the terms and conditions (including vesting restrictions, settlement date, etc.) to which DSUs hereunder are subject. 

 

	6.	Settlement of DSUs. The DSUs are payable only upon the Independent Director’s Separation from Service. The Fair Market Value of each DSU (or fraction thereof) credited to the Independent Director’s DSU
Account as of the Independent Director’s date of Separation from Service is payable in cash, in lump sum. 

  

			
	 Exhibit A – Template Award Agreement

Prepared by Holland & Hart LLP
	  	Exhibit A-1

	7.	Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the DSUs, prospectively or retroactively; provided, that, no such amendment will adversely affect the Independent
Director’s material rights under this Agreement without the Independent Director’s consent. 

  

	8.	Section 409A. This Agreement is intended to comply with Section 409A of the Code and will be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes
or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event will the
Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Independent Director on account of non-compliance with Section 409A of the Code. 

 

	9.	Acceptance. The Independent Director hereby acknowledges receipt of a copy of the Plan and this Agreement. The Independent Director has read and understands the terms and provisions thereof, and accepts the DSUs
subject to all of the terms and conditions of the Plan and this Agreement. The Independent Director acknowledges that there may be tax consequences upon settlement of the DSUs and that the Independent Director has been advised to consult a tax
advisor with respect to the DSUs. This Agreement may be executed in counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. 

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

 

									
	[DIRECTOR NAME]	 		 	STILLWATER MINING COMPANY
					
	BY:	 	  
	 		 	BY:	 	  

					
		 		 		 	NAME:	 	  

					
		 		 		 	TITLE:	 	  

  

			
	 Exhibit A – Template Award Agreement

Prepared by Holland & Hart LLP
	  	Exhibit A-2

 EXHIBIT B 

STILLWATER MINING COMPANY 

INDEPENDENT DIRECTOR DEFERRED SHARE UNIT PLAN

 ANNUAL FEES DEFERRAL ELECTION FORM 

Instructions: Use this form to elect to defer all or a percentage of your Annual Fees into Deferred Share Units (“DSUs”) under the Stillwater
Mining Company Independent Director Deferred Share Unit Plan (the “Plan”). Please note that any DSUs will be settled in cash upon your Separation from Service. Capitalized terms that are used but not defined herein have the meaning
ascribed to them in the Plan. 
 I, [DIRECTOR NAME], hereby irrevocably elect to defer 

                    % 

[specify percentage] 
 of the Annual Fees otherwise payable to me
in [CALENDAR YEAR OF COMPENSATION DEFERRED] and to have DSUs credited to my DSU Account in accordance with the terms and conditions provided by the Plan. 

I hereby acknowledge receipt of a copy of the Plan and that I have read and understand the terms and provisions thereof, and accept the DSUs credited to my
DSU Account subject to all of the terms and conditions of the Plan. I further acknowledge that there may be tax consequences upon the settlement of the DSUs and that I have been advised to consult a tax advisor with respect to the DSUs. 

 

			
	[DIRECTOR NAME]
		
	BY:	 	  

		
	DATE:	 	  

  

			
	 Exhibit B – Template Annual Fees Deferral Election Form

Prepared by Holland & Hart LLP
	  	Exhibit B-1EXHIBIT 10.1

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (the “Agreement”), effective as of April 21, 2014 is entered into by and between Vape
Holdings, Inc., a Delaware corporation (the “Company”), and Joe Andreae, an individual (“Executive”).
Company and Executive may be referred to herein individually as a “Party” or collectively as the “Parties.”

 

Position
and Responsibilities

 

a.     
Position Executive has extensive training and experience managing companies in the legal cannabis industries, and Company
desires to employ Executive to render services to the Company in the position of President. Executive shall perform such duties
and responsibilities as are normally related to such position in accordance with the standards of the industry and any additional
duties now or hereafter assigned to Executive by the Company. Executive shall abide by the rules, regulations, and practices as
adopted or modified from time to time in the Company’s sole discretion.

 

b.     
No Conflict  Executive represents and warrants that Executive’s execution of this Agreement, Executive’s
employment with the Company, and the performance of Executive’s proposed duties under this Agreement shall not violate any
obligations the Executive may have to any other employer, person or entity, including any obligations with respect to proprietary
or confidential information of any other person or entity.

 

Compensation
and Benefits

 

a.     
Compensation In consideration of the services to be rendered under this Agreement, the Company shall pay Executive
the initial compensation of Seventy Five Thousand Dollars ($75,000.00) per year. Executive’s Compensation will be reviewed
from time to time in accordance with the established procedures of the Company for adjusting salaries for similarly situated employees
and may be adjusted in the sole discretion of the Company.

 

b.     
Benefits Executive shall be eligible to participate in the benefits made generally available by the Company to similarly
situated Executives, in accordance with the benefit plans established by the Company, and as may be amended from time to time
in the Company’s sole discretion.

 

c.      
Bonuses Executive shall be eligible to receive bonuses made generally available by the Company to similarly situated
Executives.

 

d.     
Stock Options. Subject to the approval of the Company's Board of Directors, the Company may grant options to purchase
shares of common stock of the Company to Employee (OTCQB:VAPE) pursuant to an approved stock option plan (the “Stock Options”).
The Stock Options will vest as determined by the Board of Directors in its sole discretion. The exercise price per share will
be equal to the fair market value per share on the date the Stock Option is granted.

 

    	1

    	 

    

 

e.      
Expenses  The Company shall reimburse Executive for reasonable business expenses incurred in the performance of Executive’s
duties hereunder in accordance with the Company’s expense reimbursement guidelines. However, Executive must get prior written
approval by a duly authorized representative of the Company other than Executive for any expenses over $500.

 

TERM
OF EMPLOYMENT; Termination By Company

 

a.     
Employment Term The employment of Executive shall be for a period of two (2) years and may be terminated at any time
for any reason or no reason by the Company or Executive upon thirty (30) days’ written notice. Either Party hereto shall
have the right to terminate this Agreement without notice in the event of the death, bankruptcy, insolvency, or assignment for
the benefit of creditors of the other Party.

 

b.     
Severance Except in situations where the employment of Executive is terminated For Cause, By Death or By Disability
(as defined in Section 4 below), in the event that the Company terminates the employment of Executive at any time, Executive will
be eligible to receive an amount equal to the then-current Base Salary of the Executive payable in the form of salary continuation
for a six month period following termination. Executive shall not be entitled to any severance payments if Executive’s employment
is terminated For Cause, By Death or By Disability (as defined in Section 4 below) or if Executive’s employment is
terminated by Executive (in accordance with Section 5 below).

 

Other
Terminations By Company

 

a.     
Termination for Cause For purposes of this Agreement, “For Cause” shall mean: (i) Executive commits a crime
involving dishonesty, breach of trust, or physical harm to any person; or (ii) Executive willfully engages in conduct that is
in bad faith and materially injurious to the Company, including but not limited to, misappropriation of trade secrets,
fraud or embezzlement. The Company may terminate Executive’s employment For Cause at any time, without any advance notice.
The Company shall pay to Executive all compensation to which Executive is entitled up through the date of termination, subject
to any other rights or remedies of Employer under law; and thereafter all obligations of the Company under this Agreement shall
cease.

 

b.     
By Death Executive’s employment shall terminate automatically upon Executive’s death. The Company shall
pay to Executive’s beneficiaries or estate, as appropriate, any compensation then due and owing. Thereafter all obligations
of the Company under this Agreement shall cease. Nothing in this Section shall affect any entitlement of Executive’s heirs
or devisees to the benefits of any life insurance plan or other applicable benefits.

 

c.      
By Disability If Executive becomes eligible for the Company’s long term disability benefits or if, in the sole
opinion of the Company, Executive is unable to carry out the responsibilities and functions of the position held by Executive
by reason of any physical or mental impairment for more than ninety (90) consecutive days or more than one hundred and twenty
(120) days in any twelve (12) month period, then, to the extent permitted by law, the Company may terminate Executive’s
employment. The Company shall pay to Executive all compensation to which Executive is entitled up through the date of termination,
and thereafter all obligations of the Company under this Agreement shall cease. Nothing in this Section shall affect Executive’s
rights under any disability plan in which Executive is a participant.

 

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Termination
By Executive

 

a.     
Termination by Executive Executive may terminate employment with the Company at any time for any reason or no reason
at all, upon thirty (30) days’ advance written notice. During such notice period Executive shall continue to diligently
perform all of Executive’s duties hereunder. The Company shall have the option, in its sole discretion, to make Executive’s
termination effective at any time prior to the end of such notice period as long as the Company pays Executive all compensation
to which Executive is entitled up through the last day of the thirty-day notice period. Thereafter all obligations of the Company
shall cease.

 

Termination
Obligations

 

a.     
Return of Property Executive agrees that all property (including without limitation all electronic devices, equipment,
tangible proprietary information, documents, records, notes, contracts and computer-generated materials) which was furnished,
created, or prepared incidentally to Executive’s employment belongs to the Company and shall be promptly returned to the
Company upon termination of Executive’s employment.

 

b.     
Resignation and Cooperation Upon termination of Executive’s employment, Executive shall be deemed to have resigned
from all offices and directorships then held with the Company. Following any termination of employment, Executive shall cooperate
with the Company in the winding up of pending work on behalf of the Company and the orderly transfer of work to other employees.
Executive shall also cooperate with the Company in the defense of any action brought by any third party against the Company that
relates to Executive’s employment by the Company.

 

CONFIDENTIALITY;
Prohibition on Third Party Information

 

a.     
Confidentiality Executive acknowledges that Executive will have access to proprietary information regarding the business
operations of the Company and agrees to keep all such information secret and confidential and not to use or disclose any such
information to any individual or organization without the Company’s prior written consent. It is hereby agreed that from
time to time Executive and the Company may designate certain disclosed information as confidential for purposes of this Agreement.

 

b.     
Non-Disclosure of Third Party Information Executive represents and warrants and covenants that Executive shall not
disclose to the Company, or use, or induce the Company to use, any proprietary information or trade secrets of others at any time,
including but not limited to any proprietary information or trade secrets of any former employer, if any; and Executive acknowledges
and agrees that any violation of this provision shall be grounds for Executive’s immediate termination and could subject
Executive to substantial civil liabilities and criminal penalties. Executive further specifically and expressly acknowledges that
no officer or other employee or representative of the Company has requested or instructed Executive to disclose or use any such
third party proprietary information or trade secrets.

 

    	3

    	 

    

 

GOVERNING
LAW; Arbitration

 

This
Agreement shall be governed by and construed in accordance with the laws of the State of California. In the event of a dispute
related to or arising from the terms of this Agreement: (i) such dispute shall be resolved before the American Arbitration
Association in Los Angeles County, California and (ii) the prevailing Party shall be entitled to all attorneys’ fees
and costs.

 

Amendments;
Waivers; Remedies

 

This
Agreement may not be amended or waived except by a writing signed by Executive and by a duly authorized representative of the
Company other than Executive. Failure to exercise any right under this Agreement shall not constitute a waiver of such right.
Any waiver of any breach of this Agreement shall not operate as a waiver of any subsequent breaches. All rights or remedies specified
for a Party herein shall be cumulative and in addition to all other rights and remedies of the Party hereunder or under applicable
law.

 

Assignment;
Binding Effect

 

a.     
Assignment The performance of Executive is personal hereunder, and Executive agrees that Executive shall have no right
to assign, and shall not assign or purport to assign, any rights or obligations under this Agreement. This Agreement may be assigned
or transferred by the Company; and nothing in this Agreement shall prevent the consolidation, merger or sale of the Company or
a sale of any or all or substantially all of its assets.

 

b.     
Binding Effect Subject to the foregoing restriction on assignment by Executive, this Agreement shall inure to the benefit
of and be binding upon each of the parties; the affiliates, officers, directors, agents, successors and assigns of the Company;
and the heirs, devisees, spouses, legal representatives and successors of Executive.

 

Notices

 

All
notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly
given if delivered: (a) by hand; (b) by a nationally recognized overnight courier service; or (c) by United States
first class registered or certified mail, return receipt requested, to the principal address of the other party. The date of notice
shall be deemed to be the earlier of: (i) actual receipt of notice by any permitted means, or (ii) five business days
following dispatch by overnight delivery service or the United States Mail. Executive shall be obligated to notify the Company
in writing of any change in Executive’s address.
  

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Severability

 

If
any provision of this Agreement shall be held by a court or arbitrator to be invalid, unenforceable, or void, such provision shall
be enforced to the fullest extent permitted by law, and the remainder of this Agreement shall remain in full force and effect.
In the event that the time period or scope of any provision is declared by a court or arbitrator of competent jurisdiction to
exceed the maximum time period or scope that such court or arbitrator deems enforceable, then such court or arbitrator shall reduce
the time period or scope to the maximum time period or scope permitted by law.

 

Taxes

 

All
amounts paid under this Agreement (including without limitation Initial Compensation and Severance) shall be paid less all applicable
state and federal tax withholdings and any other withholdings required by any applicable jurisdiction.

 

Interpretation

 

This
Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any Party. Sections and
section headings contained in this Agreement are for reference purposes only, and shall not affect in any manner the meaning or
interpretation of this Agreement. Whenever the context requires, references to the singular shall include the plural and the plural
the singular.

 

OBLIGATIONS
SURVIVE TERMINATION OF EMPLOYMENT

 

Executive
agrees that any and all of Executive’s obligations under this Agreement shall survive the termination of employment and
the termination of this Agreement.

 

Counterparts

 

This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Agreement, but all
of which together shall constitute one and the same instrument.

 

Authority

 

Each
Party represents and warrants that such Party has the right, power and authority to enter into and execute this Agreement and
to perform and discharge all of the obligations hereunder and that this Agreement constitutes the valid and legally binding agreement
and obligation of such Party and is enforceable in accordance with its terms.

 

    	5

    	 

    

 

Entire
Agreement

 

This
Agreement is intended to be the final, complete, and exclusive statement of the terms of Executive’s employment by the Company
and may not be contradicted by evidence of any prior or contemporaneous statements or agreements. To the extent that the practices,
policies or procedures of the Company, now or in the future, apply to Executive and are inconsistent with the terms of this Agreement,
the provisions of this Agreement shall control.

 

Executive
AcknowledgEment

 

EXECUTIVE
ACKNOWLEDGES THAT EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL CONCERNING THIS AGREEMENT, THAT EXECUTIVE HAS READ
AND UNDERSTANDS THE AGREEMENT, THAT EXECUTIVE IS FULLY AWARE OF ITS LEGAL EFFECT, AND THAT EXECUTIVE HAS ENTERED INTO IT FREELY
BASED ON EXECUTIVE’S OWN JUDGMENT AND NOT ON ANY REPRESENTATIONS OR PROMISES OTHER THAN THOSE CONTAINED IN THIS AGREEMENT.

 

In
Witness Whereof, the parties have duly executed this Agreement effective as of the
date first written above.

 

	VAPE
    HOLDINGS, INC.	 	EXECUTIVE:
	 	 	 
	By:	/s/
    Kyle Tracey	 	/s/
    Joe Andreae
	Name:	Kyle
    Tracey	 	Joe
    Andreae
	Title:	Chief
    Executive Officer	 	 

 

 

 

6

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