Document:

Exhibit 10.11

 

These
securities have not been registered with the United States Securities and Exchange Commission or the Securities Commission of any
state pursuant to an exemption from registration under regulation d promulgated under the securities act of 1933, as amended (the
 “act”). this warrant shall not constitute an offer to sell nor a solicitation of an offer to buy the securities
in any jurisdiction in which such offer or solicitation would be unlawful. the securities are “restricted” and may
not be resold or transferred except as permitted under the act pursuant to registration or exemption there from.

 

COMMON STOCK PURCHASE WARRANT

 

To Purchase Shares of $0.0001 Par Value
Common Stock (“Common Stock”) of

 

Applied UV, Inc.

 

July 1, 2020

 

THIS CERTIFIES that,
for value received, Robert Nathan (the “Holder”) is entitled, upon the terms and subject to the conditions hereinafter
set forth, at any time on or after the date hereof (the “Issuance Date”) and on or prior to the date that is
the fifth anniversary date of the date hereof (the “Expiration Date”), but not thereafter, to subscribe for
and purchase from Applied UV, Inc., a Delaware corporation (the “Company”) 4,250 shares of the Common Stock
(the “Warrant Shares”) at an exercise price equal to $5.00 per share on the Issuance Date (the “Exercise
Price”).

 

		1.	Exercise of Warrant.

 

		a.	Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at
any time or times on or after the date hereof and on or before the Expiration Date by delivery to the Company (or such other office
or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise in the form annexed
hereto. Within the earlier of (i) three (3) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement
Period (as defined in Section 1(b)) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise
Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United
States bank unless the cashless exercise procedure specified in Section 1(b) below is specified in the applicable Notice of Exercise.
No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization)
of any Notice of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to
physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and
the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation
within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering
the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.
The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases.
The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The
Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph,
following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder
at any given time may be less than the amount stated on the face hereof.

 

     

     

    

 

		b.	In lieu of paying the aggregate Exercise Price as set forth in Section 1(a), the Holder may elect
to receive Warrant Shares equal to the value of this Warrant (or the portion thereof being canceled) by surrender of this Warrant
at the principal office of the Company together with notice of such election, in which event the Company shall issue to the Holder
a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = as
applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice
of Exercise is (1) both executed and delivered pursuant to Section 1(a) hereof on a day that is not a Trading Day or (2) both executed
and delivered pursuant to Section 1(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as
defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option
of the Holder, either (x) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (y)
the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s
execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours”
on a Trading Day and is delivered within two (2) hours thereafter pursuant to Section 1(a) hereof or (iii) the VWAP on the date
of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both
executed and delivered pursuant to Section 1(a) hereof after the close of “regular trading hours” on such Trading Day;

 

(B) = the
Exercise Price of this Warrant, as adjusted hereunder; and

 

(X) = the
number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such
exercise were by means of a cash exercise rather than a cashless exercise.

 

If Warrant Shares are issued in
such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act of 1933,
as amended, the Warrant Shares shall take on any registered characteristics of the Warrants being exercised. The Company agrees
not to take any position contrary to this Section 1(b).

 

    	 	2	 

     

    

 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the
Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30
a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted
average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common
Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported in the “Pink
Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as is determined in good faith by the Board of Directors of the Company after taking into consideration
factors it deems appropriate, including, without limitation, recent sale and offer prices of the Common Stock in private transactions
negotiated at arm’s length.

 

“Business Day”
means a day that is a Monday, Tuesday, Wednesday, Thursday or Friday and is not a day on which banking institutions in New York,
New York generally are authorized or obligated by law, regulation or executive order to close.

 

“Standard Settlement Period”
means (i) the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market
with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise; or if the Common Stock is not
publicly traded (ii) three Trading Days.

 

“Trading Day”
means (i) a day on which the principal Trading Market is open for trading or, if the Common Stock is not quoted or listed in any
market or exchange, (ii) any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States
or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action
to close.

 

“Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange,
OTCQB or OTCQX (or any successors to any of the foregoing).

 

“VWAP” means,
for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other
cases, the fair market value of a share of Common Stock as is determined in good faith by the Board of Directors of the Company
after taking into consideration factors it deems appropriate, including, without limitation, recent sale and offer prices of the
Common Stock in private transactions negotiated at arm’s length.

 

    	 	3	 

     

    

 

Notwithstanding anything herein
to the contrary, on the Expiration Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this Section
1(b).

 

		c.	In the event that the Warrant is not exercised in full, the number of Warrant Shares shall be reduced
by the number of such Warrant Shares for which this Warrant is exercised and/or surrendered, and the Company, if requested by the
Holder and at its expense, shall within five (5) Trading Days issue and deliver to the Holder a new Warrant of like tenor in the
name of the Holder or as the Holder (upon payment by Holder of any applicable transfer taxes) may request, reflecting such adjusted
Warrant Shares. Notwithstanding anything to the contrary set forth herein, upon exercise of any portion of this Warrant in accordance
with the terms hereof, the Holder shall not be required to physically surrender this Warrant to the Company unless such Holder
is purchasing the full amount of Warrant Shares represented by this Warrant. The Holder and the Company shall maintain records
showing the number of Warrant Shares so purchased hereunder and the dates of such purchases or shall use such other method, reasonably
satisfactory to the Holder and the Company, so as not to require physical surrender of this Warrant upon each such exercise. The
Holder, by acceptance of this Warrant or a new Warrant, acknowledge and agree that, by reason of the provisions of this Section,
following exercise of any portion of this Warrant, the number of Warrant Shares which may be purchased upon exercise of this Warrant
may be less than the number of Warrant Shares set forth on the face hereof. Certificates for shares of Common Stock (or a statement
from the Company’s transfer agent reflecting shares of Common Stock) purchased hereunder shall be delivered to the Holder
hereof within five (5) Business Days after the date on which this Warrant shall have been exercised as aforesaid. The Holder may
withdraw its Notice of Exercise at any time if the Company fails to timely deliver the relevant certificates or statement to the
Holder as provided in this Agreement. A Notice of Exercise shall be deemed sent on the date of delivery if delivered before 8:00
p.m. New York Time on such date, or the day following such date if delivered after 8:00 p.m. New York Time; provided that the Company
is only obligated to deliver Warrant Shares against delivery of the Exercise Price from the holder hereof (other than with respect
to a cashless exercise) and, if the Holder is purchasing the full amount of Warrant Shares represented by this Warrant, surrender
of this Warrant (or appropriate affidavit and/or indemnity in lieu thereof).

 

    	 	4	 

     

    

 

		2.	No Fractional Shares or Scrip. No fractional shares or scrip representing fractional
shares shall be issued upon the exercise of this Warrant. In lieu of issuance of a fractional share upon any exercise hereunder,
the Company will either round up to nearest whole number of shares or pay the cash value of that fractional share, which cash value
shall be calculated on the basis of the average closing price of the Common Stock during the five (5) Trading Days immediately
preceding the date of exercise.

 

		3.	Charges, Taxes and Expenses. Issuance of certificates for shares of Common Stock
upon the exercise of this Warrant shall be made without charge to the Holder hereof for any issue or transfer tax or other incidental
expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such
certificates shall be issued in the name of the Holder of this Warrant or in such name or names as may be directed by the Holder
of this Warrant.

 

		4.	Closing of Books. The Company will at no time close its shareholder books or records
in any manner which interferes with the timely exercise of this Warrant.

 

		5.	No Rights as Shareholder until Exercise. The Holder shall not be entitled to vote
or receive dividends or be deemed the holder of Warrant Shares or any other securities of the Company that may at any time be issuable
on the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the Holder, as such, any
of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to
stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization,
issuance of stock, reclassification of stock, change of par value, or change of stock to no par value, consolidation, merger, conveyance
or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall
have been exercised as provided herein. However, at the time of the exercise of this Warrant pursuant to Section 1 hereof, the
Warrant Shares so purchased hereunder shall be deemed to be issued to such Holder as the record owner of such shares as of the
close of business on the date on which this Warrant shall have been exercised.

 

		6.	Loss, Theft, Destruction or Mutilation of Warrant; Exchange. The Company represents,
warrants and covenants that (a) upon receipt by the Company of evidence and/or indemnity reasonably satisfactory to it of the loss,
theft, destruction or mutilation of any Warrant or stock certificate representing the Warrant Shares, and in case of loss, theft
or destruction, of indemnity reasonably satisfactory to it, and (b) upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of this Warrant or stock certificate, without any charge there for. This Warrant is exchangeable at any time for an equal
aggregate number of Warrants of different denominations, as requested by the holder surrendering the same, or in such denominations
as may be requested by the Holder following determination of the Exercise Price. No service charge will be made for such registration
or transfer, exchange or reissuance.

 

    	 	5	 

     

    

 

		7.	Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of
any action or the expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then such
action may be taken, or such right may be exercised on the next succeeding day not a legal holiday.

 

		8.	Effect of Certain Events. If at any time while this Warrant or any portion thereof
is outstanding and unexpired there shall be a transaction (by merger or otherwise) in which more than 50% of the voting power of
the Company is disposed of (collectively, a “Sale or Merger Transaction”), the Holder of this Warrant shall
have the right thereafter to purchase, by exercise of this Warrant and payment of the aggregate Exercise Price in effect immediately
prior to such action, the kind and amount of shares and other securities and property which it would have owned or have been entitled
to receive after the happening of such transaction had this Warrant been exercised immediately prior thereto, subject to further
adjustment as provided in Section 9.

 

		9.	Adjustments of Exercise Price and Number of Warrant Shares. The number of and kind
of securities purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time
as set forth in this Section 9.

 

		a.	Subdivisions, Combinations, Stock Dividends and Other Issuances. If the Company shall,
at any time while this Warrant is outstanding, (i) pay a stock dividend or otherwise make a distribution or distributions on any
equity securities (including instruments or securities convertible into or exchangeable for such equity securities) in shares of
Common Stock, (ii) subdivide outstanding shares of Common Stock into a larger number of shares, by forward stock split or otherwise,
or (iii) combine outstanding Common Stock into a smaller number of shares, by reverse stock split or otherwise, then the Exercise
Price shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding before
such event and the denominator of which shall be the number of shares of Common Stock outstanding after such event. Any adjustment
made pursuant to this Section 9(a) shall become effective immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of
a subdivision or combination. The number of shares which may be purchased hereunder shall be increased proportionately to any reduction
in Exercise Price pursuant to this paragraph 9(a), so that after such adjustments the aggregate Exercise Price payable hereunder
for the increased number of shares shall be the same as the aggregate Exercise Price in effect just prior to such adjustments.

 

    	 	6	 

     

    

 

		b.	Merger, etc. If at any time after the date hereof there shall be a merger or consolidation
of the Company with or into or a transfer of all or substantially all of the assets of the Company to another entity, then the
Holder shall be entitled to receive upon or after such transfer, merger or consolidation becoming effective, and upon payment of
the Exercise Price then in effect, the number of shares or other securities or property of the Company or of the successor corporation
resulting from such merger or consolidation, which would have been received by the Holder for the shares of stock subject to this
Warrant had this Warrant been exercised just prior to such transfer, merger or consolidation becoming effective or to the applicable
record date thereof, as the case may be. The Company will not merge or consolidate with or into any other corporation, or sell
or otherwise transfer its property, assets and business substantially as an entirety to another corporation, unless the corporation
resulting from such merger or consolidation (if not the Company), or such transferee corporation, as the case may be, shall expressly
assume in writing the due and punctual performance and observance of each and every covenant and condition of this Warrant to be
performed and observed by the Company.

 

		d.	Reclassification, etc. If at any time after the date hereof there shall be a reorganization
or reclassification of the securities as to which purchase rights under this Warrant exist into the same or a different number
of securities of any other class or classes, then the Holder shall thereafter be entitled to receive upon exercise of this Warrant,
during the period specified herein and upon payment of the Exercise Price then in effect, the number of shares or other securities
or property resulting from such reorganization or reclassification, which would have been received by the Holder for the shares
of stock subject to this Warrant had this Warrant at such time been exercised. Simultaneously with any adjustment to the Exercise
Price pursuant to this Section, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased
or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or
decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.

 

		10.	Voluntary Adjustment by the Company. The Company may at its option, at any time during
the term of this Warrant, reduce but not increase the then current Exercise Price to any amount and for any period of time deemed
appropriate by the Board of Directors of the Company.

 

		11.	Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of
securities or other property purchasable upon the exercise of this Warrant or the Exercise Price is adjusted, the Company, at its
expense, shall promptly mail to the Holder of this Warrant a notice setting forth the number of Warrant Shares (and other securities
or property) purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares after such adjustment
and setting forth the computation of such adjustment and a brief statement of the facts requiring such adjustment.

 

		12.	Authorized Shares. The Company covenants that during the period the Warrant is outstanding
and exercisable, it will reserve and keep available from its authorized and unissued Common Stock a sufficient number of shares
to provide solely for the issuance of the Warrant Shares upon the exercise of any and all purchase rights under this Warrant. The
Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with
the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise
of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that
such Warrant Shares may be issued as provided herein without violation of any applicable law, regulation, or rule of any applicable
market or exchange.

 

    	 	7	 

     

    

 

		13.	Compliance with Securities Laws. The Holder hereof acknowledges that the Warrant
Shares acquired upon the exercise of this Warrant, if not registered (or if no exemption from registration exists), will have restrictions
upon resale imposed by state and federal securities laws. Each certificate representing the Warrant Shares issued to the Holder
upon exercise (if not registered, for resale or otherwise, or if no exemption from registration exists) will bear substantially
the following legend: THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AND,
ACCORDINGLY, MAY NOT BE OFFERED, TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

		14.	Miscellaneous.

 

		a.	Issue Date; Choice of Law; Venue; Jurisdiction. The provisions of this Warrant shall
be construed and shall be given effect in all respects as if it had been issued and delivered by the Company on the date hereof.
This Warrant shall be binding upon any successors or assigns of the Company. This Warrant will be construed and enforced in accordance
with and governed by the laws of the State of New York, except for matters arising under the Act, without reference to principles
of conflicts of law. Each of the parties consents to the exclusive jurisdiction of the Federal and State Courts sitting in the
County of New York in the State of New York in connection with any dispute arising under this Warrant and hereby waives, to the
maximum extent permitted by law, any objection, including any objection based on forum non conveniens or venue, to the bringing
of any such proceeding in such jurisdiction.

 

		b.	Modification and Waiver. This Warrant and any provisions hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the party against which enforcement of the same is sought.
Any amendment effected in accordance with this paragraph shall be binding upon the Holder, each future holder of this Warrant and
the Company. No waivers of, or exceptions to, any term, condition or provision of this Warrant, in any one or more instances, shall
be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision.

 

    	 	8	 

     

    

 

		c.	Notices. Any notice or other communication required or permitted to be given hereunder
shall be in writing by facsimile, mail or personal delivery and shall be effective upon actual receipt of such notice. The addresses
for such communications shall be to the addresses as shown on the books of the Company. A party may from time to time change the
address to which notices to it are to be delivered or mailed hereunder by notice in accordance with the provisions of this Section
14(c).

 

		d.	Severability. Whenever possible, each provision of this Warrant shall be interpreted
in such manner as to be effective and valid under applicable law, but if any provision of this Warrant is held to be invalid, illegal
or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect the validity, legality or enforceability of any other provision of this Warrant in such jurisdiction or affect
the validity, legality or enforceability of any provision in any other jurisdiction, but this Warrant shall be reformed, construed
and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

 

		e.	Specific Enforcement. The Company and the Holder acknowledge and agree that irreparable
damage would occur in the event that any of the provisions of this Warrant were not performed in accordance with their specific
terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to
prevent or cure breaches of the provisions of this Warrant and to enforce specifically the terms and provisions hereof, this being
in addition to any other remedy to which either of them may be entitled by law or equity.

 

		f.	Counterparts/Execution. This Warrant may be executed by facsimile and in any number
of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together
shall constitute one agreement. Execution and delivery of this Warrant by facsimile transmission (including delivery of documents
in Adobe PDF format) shall constitute execution and delivery of this Warrant for all purposes, with the same force and effect as
execution and delivery of an original manually signed copy hereof.

 

[SIGNATURE PAGE TO
FOLLOW]

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Common Stock Purchase Warrant to be executed by its officers thereunto duly authorized.

 

 

	 	Applied
    UV, Inc.	 
	 	 	 	 	 
	 	By:	 	/s/ Max Munn	 
	 	Name: Max
    Munn	 
	 	Title: President	 

 

    	 	10	 

     

    

 

NOTICE OF EXERCISE

 

		To:	Applied UV, Inc.

 

(1)          The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the aggregate Exercise Price in full, together with all applicable
transfer taxes, if any.

 

(2)          Payment
shall take the form of (check applicable box):

 

 ̈ in lawful money of the United
States; or

 

 ̈ if cashless exercise, the
cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 1(b), to
exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure
set forth in subsection 1(b).

 

(3)          Please
issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name
as is specified below:

 

_______________________________

(Name)

_______________________________

(Address)

 

_______________________________

 

(3)          Please
issue a new Warrant for the unexercised portion of the attached Warrant in the name of the undersigned or in such other name as
is specified below:

	 	 	 	 
	 	 	(Name)	 
	 	 	 	 
	 	 	 	 
	(Date)	 	(Signature)	 
	 	 	 	 
	 	 	 	 
	 	 	(Address)	 
	Dated:	 	 	 
	 	 	 	 
	Signature	 	 	 

 

    	 	11	 

     

    

 

ASSIGNMENT FORM

 

(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)
	 	 
	Phone Number:	 
	 	 
	Email Address:	 
	 	 
	Dated: _______________ ___, ______	 
	 	 
	Holder’s Signature:  _______________	 
	 	 
	Holder’s Address:  _______________	 

 

    	 	12Exhibit 10.12

 

APPLIED UV, INC.

Notice of Non-Qualified Stock
Option Grant

 

You
(the “Optionee”) have been granted the following option (the “Option”) to purchase Common
Stock of Applied UV, Inc. (the “Company”), par value $0.0001 per share (“Share”):

 

	 	Name of Optionee:	Adam Auerbach.
	 	 	 
	 	Total Number of Shares

                                                                Subject to Option:
	[5,000] [10,000].
	 	 	 
	 	Type of Option:	Non-Qualified Stock Options (NQSOs).
	 	 	 
	 	Exercise Price Per Share:	$5.00
	 	 	 
	 	Effective Date of Grant:	[_________].
	 	 	 
	 	Vesting Schedule:	Vests in full on then next January 1 following the date of the grant.
	 	 	 
	 	Expiration Date:	Upon the Optionee no longer being a member of the Board of Directors of the Company for any reason, any unvested options shall expire and no longer be exercisable. The options shall not be exercisable later than the tenth (10th) anniversary date of the Effective Date of Grant.

 

     

     

    

 

This grant is subject to all
of the terms and conditions set forth in the Non-Qualified Stock Option Agreement (the “Agreement”), attached hereto
as Exhibit A. This grant is made and granted as a stand-alone award and is not granted under or pursuant to the Company’s
2020 Omnibus Incentive Plan (the “Plan”). However, unless otherwise defined herein, the terms defined in the Plan shall
have the same defined meanings in this Agreement.

 

By your signature and the signature
of the Company’s representative below, you and the Company agree and acknowledge that this Option is governed by the terms
and conditions of the attached Non-Qualified Stock Option Agreement, which are incorporated herein by reference, and that you have
been provided with a copy of the Plan and Non-Qualified Stock Option Agreement.

 

 

	Optionee:	 	APPLIED UV, INC.	 
	 	 	 	 
	 	 	 	 
	By:	                	 	By:	                 	 
	Name	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 

 

     

     

    

 

Exhibit A

 

APPLIED
UV, INC.

Non-Qualified
Stock Option Agreement

 

Section 1. Grant of Option.

 

(a) Option. On the terms and conditions
set forth in the Notice of Non-Qualified Stock Option Grant (the “Grant Notice”) and this Non-Qualified Stock
Option Agreement (the “Agreement”), the Company grants to the Optionee on the Effective Date of Grant the option
(the “Option”) to purchase at the Exercise Price the number of Shares set forth in the Grant Notice.

 

(b) Plan and Defined Terms. The
Option granted by this Agreement is granted as a stand-alone grant, separate and apart from, and outside of, the Plan, and shall
not constitute an award granted under or pursuant to the Plan. Notwithstanding the foregoing, the terms, conditions, and definitions
set forth in the Plan shall apply to the Option as though the Option had been granted under the Plan, and the Option shall be subject
to such terms, conditions, and definitions, which are hereby incorporated into this Agreement by reference; provided that, for
the avoidance of doubt, the Option granted by this Agreement shall not reduce and shall have no impact on the number of shares
available for grant under the Plan. To the extent any provision hereof is inconsistent with a provision of the Plan, the provisions
of this Agreement will govern. All capitalized terms that are used in the Grant Notice or this Agreement and not otherwise defined
therein or herein shall have the meanings ascribed to them in the Plan.

 

Section 2. Right to Exercise.

 

The Option hereby granted shall be exercised
by written notice to the Committee, specifying the number of Shares the Optionee desires to purchase together with provision for
payment of the Exercise Price. Subject to such limitations as the Committee may impose (including prohibition of one more of the
following payment methods), payment of the Exercise Price may be made by check payable to the order of the Company, for an amount
in United States dollars equal to the aggregate Exercise Price of such Shares, (b) by tendering to the Company Shares having an
aggregate Fair Market Value equal to such Exercise Price, (c) by broker-assisted exercise, or (d) by a combination of such methods,
or (e) by a cashless exercise. The Company may require the Optionee to furnish or execute such other documents as the Company shall
reasonably deem necessary (i) to evidence such exercise and (ii) to comply with or satisfy the requirements of the Securities Act
of 1933, as amended, the Exchange Act, applicable state or non-U.S. securities laws or any other law.

 

Section 3. Term and Expiration.

 

(a) Basic Term.
Subject to earlier termination pursuant to the terms here, the Option shall expire on the expiration date set forth in the Grant
Notice.

 

(b) Termination
of Employment or Service. If the Optionee’s employment or service as a Director or Consultant, as the case may be, is
terminated, the Option shall expire on the earliest of the following occasions:

 

(i) The expiration date
set forth in the Grant Notice;

 

     

     

    

 

(ii) Three months following
the termination of the Optionee’s employment or service for any reason other than Cause, death, or Disability;

 

(iii) One year following
the termination of the Optionee’s employment or service due to death or Disability; or

 

(iv) The date of termination
of the Optionee’s employment or service for Cause.

 

The Optionee may exercise
all or part of this Option at any time before its expiration under the preceding sentence, but, subject to the following sentence,
only to the extent that the Option had become vested before the Optionee’s employment or service terminated. When the Optionee’s
employment or service terminates, this Option shall expire immediately with respect to the number of Shares for which the Option
is not yet vested. If the Optionee dies after termination of employment or service, but before the expiration of the Option, all
or part of this Option may be exercised (prior to expiration) by the personal representative of the Optionee or by any person who
has acquired this Option directly from the Optionee by will, bequest or inheritance, but only to the extent that the Option was
vested and exercisable upon termination of the Optionee’s employment or service.

 

(c) Definition of
 “Cause.” The term “Cause” shall have the meaning ascribed to such term in the Optionee’s
employment agreement with the Company or any Subsidiary. If the Optionee’s employment agreement does not define the term
 “Cause,” or if the Optionee has not entered into an employment agreement with the Company or any Subsidiary,
the term “Cause” shall mean (i) the willful engaging by the Optionee in misconduct that is demonstrably injurious
to the Company or any Parent or Subsidiary (monetarily or otherwise), (ii) the Optionee’s conviction of, or pleading guilty
or nolo contendere to, a felony involving moral turpitude, or (iii) the Optionee’s violation of any confidentiality, non-solicitation,
or non-competition covenant to which the Optionee is subject.

 

(d) Definition of
 “Disability.” The term “Disability” shall have the meaning ascribed to such term in the Optionee’s
employment agreement with the Company or any Subsidiary. If the Optionee’s employment agreement does not define the term
 “Disability,” or if the Optionee has not entered into an employment agreement with the Company or any Subsidiary,
the term “Disability” shall mean the Optionee’s entitlement to long-term disability benefits pursuant
to the long-term disability plan maintained by the Company or in which the Company’s employees participate.

 

Section 4. Transferability of Option.

 

The Option shall not
be transferable by the Optionee other than by will or the laws of descent and distribution, and the Option shall be exercisable
during the Optionee’s lifetime only by the Optionee or on his or her behalf by the Optionee’s guardian or legal representative.

 

Section 5. Investment Intent; Restrictions
on Transfer.

 

Optionee represents
and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares upon such
exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and
that upon such exercise of this Option in whole or in part, Optionee (or any person or persons entitled to exercise this Option
under the provisions hereof) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form
and substance. If the Shares represented by this Option are registered under the Securities Act, either before or after the exercise
of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment representation and agreement and
shall not be required to furnish the Company with the foregoing written statement.

 

     

     

    

 

Optionee further represents
that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions
of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary
to verify the accuracy of such information.

 

Unless and until the
Shares represented by this Option are registered under the Securities Act, all certificates representing the Shares and any certificates
subsequently issued in substitution therefor and any certificate for any securities issued pursuant to any stock split, share reclassification,
stock dividend or other similar capital event shall bear legends in substantially the following form:

 

THESE SECURITIES HAVE NOT
BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE 'SECURITIES ACT') OR UNDER THE APPLICABLE OR SECURITIES
LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF
IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS
THEREFROM.

 

and/or such other legend or legends
as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares
have been placed with the Company’s transfer agent.

 

Section 6. Miscellaneous Provisions.

 

(a) Acknowledgements.

 

(i) The Optionee hereby
acknowledges that he or she has read and understands the terms of the Plan and this Agreement, and agrees to be bound by their
respective terms and conditions. The Optionee acknowledges that there may be tax consequences upon the exercise or transfer of
the Option and that the Optionee should consult an independent tax advisor prior to any exercise of the Option.

 

(b) Tax Withholding.
Pursuant to Article 20 of the Plan, the Company shall have the power and the right to deduct or withhold, or require the Optionee
to remit to the Company, an amount sufficient to satisfy federal, state and local tax purposes, as applicable, including payroll
taxes) that could be imposed on the transaction, and, to the extent the Committee so permits, amounts in excess of the minimum
statutory withholding to the extent it would not result in additional accounting expense. Such election shall be irrevocable, made
in writing, signed by the Optionee, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion,
deems appropriate.

 

(c) Notice Concerning
Disqualifying Dispositions. If the Option is an Incentive Stock Option, the Optionee shall notify the Committee of any disposition
of Shares issued pursuant to the exercise of the Option if the disposition constitutes a “disqualifying disposition”
within the meaning of Sections 421 and 422 of the Code (or any successor provision of the Code then in effect relating to disqualifying
dispositions). Such notice shall be provided by the Optionee to the Committee in writing within 10 days of any such disqualifying
disposition.

 

     

     

    

 

(d) Rights as a
Stockholder. Neither the Optionee nor the Optionee’s transferee or representative shall have any rights as a stockholder
with respect to any Shares subject to this Option until the Option has been exercised and Share certificates have been issued to
the Optionee, transferee or representative, as the case may be.

 

(e) Ratification
of Actions. By accepting this Agreement, the Optionee and each person claiming under or through the Optionee shall be conclusively
deemed to have indicated the Optionee’s acceptance and ratification of, and consent to, any action taken under this Agreement
and Grant Notice by the Company, the Board, or the Committee.

 

(f) Notice.
Any notice required by the terms of this Agreement shall be given in writing and shall be deemed effective upon personal delivery
or upon deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. Notice shall
be addressed to the Company at its principal executive office and to the Optionee at the address that he or she most recently provided
in writing to the Company.

 

(g) Choice of Law.
This Agreement and the Grant Notice shall be governed by, and construed in accordance with, the laws of the State of Delaware,
without regard to any conflicts of law or choice of law rule or principle that might otherwise cause this Agreement or the Grant
Notice to be governed by or construed in accordance with the substantive law of another jurisdiction.

 

(h) Arbitration.
Any dispute or claim arising out of or relating to this Agreement or the Grant Notice shall be settled by binding arbitration before
a single arbitrator in New York and in accordance with the Commercial Arbitration Rules of the American Arbitration Association.
The arbitrator shall decide any issues submitted in accordance with the provisions and commercial purposes of this Agreement and
the Grant Notice, provided that all substantive questions of law shall be determined in accordance with the state and Federal laws
applicable in the state in which the Company is incorporated, without regard to internal principles relating to conflict of laws.

 

(i) Modification
or Amendment. This Agreement may only be modified or amended by written agreement executed by the parties hereto; provided,
however, that the adjustments permitted pursuant to Article 4.3 of the Plan may be made without such written agreement.

 

(j) Severability.
In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity shall
not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if such illegal or
invalid provision had not been included.

 

(k) References to
Plan. All references to the Plan shall be deemed references to the Plan as may be amended from time to time.

 

(l) Section 409A
Compliance. To the extent applicable, it is intended that this Agreement comply with the requirements of Code Section 409A
and any related regulations or other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or
the Internal Revenue Service and the Agreement and the Grant Notice shall be interpreted accordingly.

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