Document:

Exhibit
10.15

 

EMPLOYMENT
AGREEMENT

 

EMPLOYMENT
AGREEMENT, made the 23rd day of April, 2019, by and between Gareth Sheridan, an individual with an address at 1588S
1300E Salt Lake City, UT 84105 (“Executive”) and Nutriband Inc., a Nevada corporation with an address at 121
South Orange Ave., Suite 1500, Orlando, FL (the “Company”).

 

W
I T N E S S E T H:

 

WHEREAS,
Executive is a party to an employment agreement dated February 1, 2018 (the “Prior Employment Agreement”) with the
Company pursuant to which the Company employed the Executive as its Chief Executive Officer; and

 

WHEREAS,
Executive is willing to continue to serve as the Company’s Chief Executive Officer of the Company, and the Company agrees
to employ Executive as its Chief Executive Officer, on and subject to the terms and conditions set forth in this Agreement, and

 

WHEREAS,
the Company and Executive desire to amend and restate the Prior Employment Agreement; and

 

WHEREFORE,
in consideration of the mutual promises set forth in this Agreement, the parties do hereby agree as follows:

 

1. Employment
and Duties.

 

(a) Subject
to the terms and conditions of this Agreement, the Company hereby employs Executive as its Chief Executive Officer, and he shall
have the duties and responsibilities associated with the chief executive officer of a public corporation. The Executive shall
report to the Company’s board of directors (the “Board”). Executive shall also perform such other duties and
responsibilities as may be determined by the Board, as long as such duties and responsibilities are consistent with those of the
Chief Executive Officer. Additionally, during the Term, as hereinafter defined, the Company shall include Executive as one of
the Board’s nominees for election as a director of the Company, and, if elected as a director, Executive shall serve as
chairman of the board.

 

(b) Executive
shall serve as a director of the Company or any of its subsidiaries, if elected, and in such executive capacity or capacities
with respect to any affiliate of the Company to which he may be elected or appointed, provided that such duties are consistent
with those of the Company’s Chief Executive Officer. Executive shall receive no additional compensation for services rendered
pursuant to this Section 1(b).

 

(c) During
the Term, Executive shall devote his full time and attention to the performance of his duties under this Agreement, and shall
perform such duties diligently, in good faith and in a manner consistent with the best interests of the Company.

 

2. Term
and Termination. This Agreement shall have an initial term, commencing on the date of this Agreement and ending on January
31, 2024, and continuing on a year-to-year basis thereafter unless terminated by either party on not less than 30 days’
notice given prior to the expiration of the initial term or any one-year extension, unless terminated early pursuant to Section
5 of this Agreement. The initial term and the one-year extensions are collectively referred to as the “Term.” The
termination of this Agreement or the termination of the employment of Executive for any reason whatsoever shall not affect the
validity or effectiveness Sections 6 through and including 10 of this Agreement, which shall continue in full force and effect
as set forth therein.

 

     

     

    

 

3. Compensation
and Other Benefits. During the Term, for his services pursuant to this Agreement:

 

(a) For
his services to the Company during the Term, the Company shall pay Executive an annual salary (“Salary”) at the rate
of $42,000 per annum, commencing on the date of this Agreement, and increasing to $170,000 per annum commencing in the month in
which the Company shall have received not less than $2,500,000 from one or more public or private financings of the Company’s
equity securities subsequent to the date of this Agreement. The Executive’s Salary shall be reviewed at least annually by
the compensation committee of the Board and may be increased (but not decreased) in the sole discretion of the compensation committee.
All Salary payments shall be payable in such installments as the Company regularly pays its executive officers, but not less frequently
than semi-monthly. In the event that the Company does not have a compensation committee, all references in this Agreement to the
compensation committee shall be deemed to refer to the Board without the participation or attendance by the Executive unless such
participation is required in order that there be a quorum.

 

(b) The
Executive shall be eligible for such bonus or incentive compensation, including equity-based incentives, as shall be determined
from time to time by the Compensation Committee.

 

(c) During
the Term, the Executive shall receive, at the Company’s full cost and expense:

 

(i) Medical
insurance selected by the Executive from those coverage options that the Company offers to its executive employees from time to
time.

 

(ii) Vacation
in accordance with company policy; provided that any unused vacation shall be accrued without limitation or restriction.

 

(d) The
Executive shall also receive such other benefits as the Board may grant to its executive officers.

 

4. Expenses.
The Company shall reimburse Executive, upon presentation of proper expense statements, for all authorized, ordinary and necessary
out of pocket expenses reasonably incurred by Executive during the Term in connection with the performance of his services pursuant
to this Agreement in accordance with the Company’s expense reimbursement policy for executive officers as in effect from
time to time.

 

5. Termination
of Employment.

 

(a) This
Agreement and Executive’s employment shall terminate immediately upon his death.

 

(b) This
Agreement and Executive’s employment may be terminated by Executive or by the Company on not less than thirty (30) days’
written notice in the event of Executive’s Disability. The term “Disability” shall mean any illness, disability
or incapacity of Executive which prevents him from substantially performing his regular duties for a period of three (3) consecutive
months or four (4) months, even though not consecutive, in any twelve (12) month period. In the event of a termination for a Disability,
the Company shall pay Executive his Salary, as in effect on the date of such termination, until the earlier of (i) the expiration
of the Term or (ii) one year from the date of such termination.

 

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(c) The
Company may terminate this Agreement and Executive’s employment for Cause, in which event no further Salary or other benefits
shall be payable to Executive subsequent to the date of termination. The term “Cause” shall mean:

 

(i) repeated
failure to perform material instructions from the Board; provided that such instructions are reasonable and consistent with Executive’s
duties as set forth in Section 1 of this Agreement, which failure shall not have been cured within 30 days of his receipt of written
notice setting forth in reasonable detail the nature of such failure;

 

(ii) a
material breach of Sections 6 or 7 of this Agreement;

 

(iii) fraud,
dishonesty, gross misconduct or other breach of trust whereby Executive obtains personal gain or benefit at the expense of or
to the detriment of the Company;

 

(iv) a
conviction of or plea of nolo contendere or similar plea by Executive of any felony; or

 

(v) a
conviction of or plea of nolo contendere or similar plea by of any other crime involving theft, misappropriation of property or
illegal substances.

 

(d) Executive
may terminate this Agreement on 30 days’ written notice for Good Reason. Executive shall deliver to the Company, within
ninety (90) days following the event constituting Good Reason, a written notice of termination for Good Reason setting forth in
reasonable detail the facts and circumstances claimed by Executive to provide a basis for the termination for Good Reason, and
the Company shall have a period of thirty (30) days following receipt of such notice to cure such grounds for Good Reason prior
to such termination by Executive for Good Reason becoming effective. Executive’s purported termination for Good Reason shall
not take effect if the Company effects such cure within the thirty (30)-day period. As used in this Agreement, the term “Good
Reason” shall mean:

 

(i) Without
the consent of Executive, Executive is no longer the Company’s Chief Executive Officer.

 

(ii) Any
material breach by the Company of the terms of this Agreement.

 

(e) In
the event of a termination by Executive for Good Reason, the Company shall continue to pay Executive his compensation and medical
insurance for the balance of the Term.

 

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6. Ownership
of Intellectual Property.

 

(a) “Inventions”
means all inventions, ideas, discoveries, developments, methods, data, information, improvements, original works, know-how, including,
but not limited to, algorithms, technology, trade secrets, processes, codes and hardware (whether or not reduced to practice and
whether or not protectable under the patent, copyright, trade secrecy or similar laws of the United States) which:

 

(i) relate
to the Company’s business or its proposed business at the time of conception or reduction to practice or actual or demonstrably
anticipated research or development of Company that were conceived, created or developed by Executive (whether alone or with others,
whether or not during working hours or on the Company’s premises or whether or not using material or property provided by
the Company) during the Term; and/or      

 

(ii) were
conceived, created or developed by Executive (whether alone or with others) during the Term, even if having possibly been conceived,
created or developed prior to the Term but completed while in the employ of the Company, or which result from any work performed
by Executive for Company.

 

(b) All
Inventions are, will be, and shall constitute “works-for-hire” and the exclusive property of the Company, and the
Company may use and exploit them without restriction or additional compensation to Executive.  Executive shall promptly and
fully disclose to the Company any and all Inventions.  Executive shall maintain complete written records of all Inventions
and of all work or investigations done or carried out by Executive at all stages thereof, which records shall be the exclusive
property of the Company and will be treated as Confidential Information for all purposes of this Agreement.

 

(c) Executive
hereby irrevocably assigns and transfers to the Company, its successors, assigns or Affiliates, as the case may be, all of Executive’s
right, title and interest in and to any Inventions without additional consideration therefor from the moment of their creation
or inception, to be held and enjoyed by the Company, its successors, assigns or Affiliates, as the case may be, to the full extent
of the term for which any intellectual property protection may be granted and as fully as the same would have been held by Executive
had this Agreement, or such assignment or transfer not been made.   In addition to the foregoing assignments of Inventions
to the Company, Executive hereby irrevocably assigns and transfers to the Company: (i) all worldwide patents, trademarks, copyrights,
mask works, trade secrets, applications for the foregoing and other intellectual property rights in any Inventions; and (ii) any
and all “Moral Rights” (as defined below) that Executive may have in or with respect to any Inventions.  Executive
hereby forever waives and agrees never to assert any and all Moral Rights Executive may have in or with respect to any such Inventions,
even after the termination of Executive’s employment.

 

(d) “Moral
Rights” means any right to claim authorship of any Inventions, or to withdraw from circulation or control the publication
or distribution of any Inventions, and any similar right, existing under judicial or statutory law of any country in the world,
or under any treaty, regardless of whether or not such right is denominated or generally referred to as a moral right.

 

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(e) Executive
agrees to cooperate fully in obtaining patent, copyright or other proprietary protection for such Inventions, all in the name
of the Company, its successors, assigns  or Affiliates, as the case may be, and at the Company’s cost and expense,
and shall execute and deliver all requested applications, assignments and other documents and take such other actions as the Company,
its successors, assigns or Affiliates, as the case may be, shall request in order to perfect, enforce and exploit the Company’s,
its successors,’ assigns’ or Affiliates,’ as the case may be, right in the Inventions (including transfer of
possession to the Company, its successors, assigns or Affiliates, as the case may be, of all Inventions embodied in tangible materials),
including granting Company a non-revocable, perpetual, royalty-free license in any pre-existing works.  Executive irrevocably
designates and appoints the Company and its duly authorized officers and agents as his agents and attorneys-in-fact to execute
and file any and all applications and other necessary documents and to do all other lawfully permitted acts to further perfect
and enforce the Company’s, its successors’, assigns’ or Affiliates’ (as the case may be) right in the
Inventions and to further the prosecution, issuance or enforcement of patents, copyrights, trade secrets and similar protections
related to the Inventions with the same legal force and effect as he had executed them himself.  Executive shall receive
no additional compensation for complying with Executive’s obligations under this Section 6.  Executive agrees that,
to the extent this Agreement shall be construed in accordance with any laws that limit the assignability to the Company, its successors,
assigns or Affiliates (as the case may be) of the Inventions, this Agreement shall be interpreted not to apply to any Invention
which a court rules or the Company agrees is subject to such state limitation.

 

(f) Any
copyrightable work created by Executive in connection with or during the performance of his employment duties, whether published
or unpublished, shall be the property of the Company as author and owner of copyright in such work. 

 

(g) Executive
warrants and represents that there are no Inventions (whether patentable or not), patents, trade secrets, trademarks, trade names,
copyrights, or other intellectual property owned by him prior to entering into employment with the Company hereunder, and that
he has not executed and will not execute any document or instrument in conflict herewith.

 

7. Confidential
Information.

 

(a) Executive
recognizes and acknowledges that the Company, through the expenditure of considerable time and money, has developed and will continue
to develop in the future information concerning customers, licensee, intellectual property rights, including plans relating to
the development, implementation, marketing and monetization of intellectual property right, clients, marketing, patents, products,
services, business, research and development activities and operational methods of the Company and its customers, licensees, licensors
or clients, contracts, financial or other data, technical data or any other confidential or proprietary information possessed,
owned or used by the Company, the disclosure of which could or does have a material adverse effect on the Company, its business,
any business it proposes to engage in, its operations, financial condition or prospects and that the same are confidential and
proprietary and considered “Confidential Information” of the Company for the purposes of this Agreement. In consideration
of his employment, Executive agrees that he will not, during or after the Term, without the consent of the Company make any disclosure
of Confidential Information now or hereafter possessed by the Company, to any person, partnership, corporation or entity either
during or after the term here of, except that nothing in this Agreement shall be construed to prohibit Executive from using or
disclosing such information (a) if such disclosure is necessary in the normal course of the Company’s business in accordance
with the Company policies or instructions or authorization from the Board, (b) such information shall become public knowledge
other than by or as a result of disclosure by a person not having a right to make such disclosure, (c) complying with legal process
as provided in Section 7(b) of this Agreement, or (d) subsequent to the Term, if such information shall have either (i) been developed
by Executive independent of any of the Company’s confidential or proprietary information and does not include and is not
based on any Inventions assigned to the Company pursuant to Section 6 of this Agreement or (ii) been disclosed to Executive by
a person not subject to a confidentiality agreement with or other obligation of confidentiality to the Company. For the purposes
of Sections 6, 7 and 8 of this Agreement, the term “the Company” shall include the Company, its parent, its subsidiaries
and Affiliates.

 

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(b) In
the event that any Confidential Information is required to be produced by Executive pursuant to legal process, Executive shall
give the Company notice of such legal process within a reasonable time, but not later than ten business days prior to the date
such disclosure is to be made, unless Executive has received less notice, in which event Executive shall immediately notify the
Company. The Company shall have the right to object to any such disclosure, and if the Company objects (at the Company’s
cost and expense) in a timely manner, Executive shall not make any disclosure until there has been a court determination on the
Company’s objections. If disclosure is required by a court order, final beyond right of review, or if the Company does not
object to the disclosure, Executive shall make disclosure only to the extent that disclosure is required by the court order, and
Executive will exercise reasonable efforts to obtain reliable assurance from the person to whom such Confidential Information
is disclosed that such person will treat the Confidential Information as confidential.

 

(c) Executive
shall, upon expiration or termination of the Term, or earlier at the request of the Company, turn over to the Company all documents,
papers, computer disks or other material in Executive’s possession or under Executive’s control which may contain
or be derived from Confidential Information. To the extent that any Confidential Information is on Executive’s hard drive
or other storage media, he shall, upon the request of the Company, cause such information to be erased from his computer disks
and all other storage media.

 

(d) Executive
shall not during the Term and for one year thereafter:

 

(i) Persuade
or attempt to persuade any person or entity which is or was a customer, client, licensee or licensor of the Company to cease doing
business with the Company, or to reduce the amount of business it does with the Company (the terms “customer,” “licensee,”
“licensor,” and “client” as used in this Section 7 to include any potential customer, licensee, licensor
or client to whom the Company submitted bids or proposals, or with whom the Company conducted negotiations, during the term of
Executive’s employment or during the twelve (12) months preceding the termination of his employment;

 

(ii) Solicit
for himself or any other person or entity other than the Company the business of any person or entity which is a customer or client
of the Company, or was a customer or client of the Company within two (2) years prior to the termination of his employment; or

 

(iii) Persuade
or attempt to persuade any employee of the Company, or any individual who was an employee of the Company during the one (1) year
period prior to the termination of this Agreement, to leave the Company’s employ, or to become employed by any person or
entity other than the Company

 

(e) Executive
acknowledges that the restrictive covenants (the “Restrictive Covenants”) contained in Sections 6 and 7 of this Agreement
are a condition of his employment and are reasonable and valid in geographical and temporal scope and in all other respects. If
any court or arbitrator determines that any of the Restrictive Covenants, or any part of any of the Restrictive Covenants, is
invalid or unenforceable, the remainder of the Restrictive Covenants and parts thereof shall not thereby be affected and shall
remain in full force and effect, without regard to the invalid portion. If any court or arbitrator determines that any of the
Restrictive Covenants, or any part thereof, is invalid or unenforceable because of the geographic or temporal scope of such provision,
such court or arbitrator shall have the power to reduce the geographic or temporal scope of such provision, as the case may be,
and, in its reduced form, such provision shall then be enforceable.

 

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8. Injunctive
Relief. Executive agrees that his violation or threatened violation of any of the provisions of Sections 6 and 7 of this Agreement
shall cause immediate and irreparable harm to the Company. In the event of any breach or threatened breach of any of said provisions,
Executive consents to the entry of preliminary and permanent injunctions by a court of competent jurisdiction prohibiting Executive
from any violation or threatened violation of such provisions and compelling Executive to comply with such provisions. This Section
8 shall not affect or limit, and the injunctive relief provided in this Section 8 shall be in addition to, any other remedies
available to the Company at law or in equity or in arbitration for any such violation by Executive. Subject to Section 7(e) of
this Agreement, the provisions of Sections 6, 7, 8, 9 and 10 of this Agreement shall survive any termination of this Agreement
and Executive’s employment.

 

9. Representations
and Warranties of Executive. Executive represents and warrants as follows:

 

(a) Executive
has the right to enter into this Agreement. Neither the execution of this Agreement nor the performance by Executive of his obligations
pursuant to this Agreement violates any agreement to which Executive is a party or by which he is bound. In particular, Executive
is not subject to any employment agreement, restrictive covenant or stockholders or partnership agreement which would impair his
ability to enter into this Agreement and perform his duties as Chief Executive Officer. In the performance of his duties pursuant
to this Agreement, Executive shall not use or disclose to the Company any confidential information which is the property of any
other person.

 

(b) Executive
will not purchase, sell or otherwise transfer or acquire or assist any person to purchase, sell or otherwise transfer or acquire
any of the Company’s securities (i) when in possession of material non-public information and (ii) during the period commencing
on the 15th day of the last month of each calendar quarter and ending on the day after the date on which the Company
files its annual report on Form 10-K or quarterly report on Form 10-Q for the applicable period.

 

10. Miscellaneous.

 

(a) Definitions.

 

(i) “Affiliate”
of the Company shall mean any person or entity which controls, is controlled by or is under common control with the Company.

 

(ii) “Person”
shall mean an individual, corporation, partnership, limited partnership, joint venture, association, trust, unincorporated organization,
limited liability the Company or other entity.

 

(b) Entire
Agreement. This Agreement constitutes the entire agreement of the Company and Executive as to the subject matter hereof, superseding
all prior or contemporaneous written or oral understandings or agreements, with respect to the subject matter covered in this
Agreement including the Prior Employment Agreement, provided that any intellectual property or intellectual property rights assigned
to the Company pursuant to the Prior Employment Agreement shall remain the property of the Company. This Agreement may not be
modified or amended, nor may any right be waived, except by a writing which expressly refers to this Agreement, states that it
is intended to be a modification, amendment or waiver and is signed by both parties in the case of a modification or amendment
or by the party granting the waiver. No course of conduct or dealing between the parties and no custom or trade usage shall be
relied upon to vary the terms of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement
on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence
to that term or any other term of this Agreement.

 

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(c) Notice.
Any notice, consent or communication required under the provisions of this Agreement shall be given in writing and sent or delivered
by hand, overnight courier or messenger service, against a signed receipt or acknowledgment of receipt, or by registered or certified
mail, return receipt requested, or telecopier, email or similar means of communication (collectively “electronic communications”)
if receipt is acknowledged or if transmission is confirmed by mail as provided in this Section 10(c), to the parties at their
respective addresses set forth at the beginning of this Agreement or by electronic delivery to the telecopier or email set forth
on the signature page of this Agreement, with notice to the Company being sent to the attention of the individual who executed
this Agreement on behalf of the Company. Either party may, by like notice, change the person, address or electronic communications
number or address to which notice is to be sent. If no telecopier number is provided for either party, notice to such party shall
not be sent by telecopier.

 

(d) Governing
Law; Dispute Resolution; Jurisdiction.

 

(i) 
This Agreement shall in all respects be construed and interpreted in accordance with, and the rights of the parties shall be governed
by, the laws of the State of Florida applicable to agreements executed and to be performed wholly in such state without regard
to principles of conflicts of laws. Except with respect to Section 8 of this Agreement, the parties hereby agree that any dispute
arising out of or based upon this Agreement shall be submitted to binding arbitration in the City of Orlando, Orange County, Florida
in accordance with the rule then in effect of the American Arbitration Association. The decision of the arbitrator(s) shall be
binding on all parties and judgment on the arbitration award may be entered in any court having jurisdiction. In making a decision,
the arbitrator(s) shall have no authority to modify or amend any provisions of this Agreement except as expressly provided in
Section 7(e) of this Agreement.

 

(ii) With
respect to any action seeking injunctive relief pursuant to Section 8 of this Agreement or an action to compel arbitration pursuant
to Section 10(d)(i), the parties hereby (x) consent to the exclusive jurisdiction of the federal and state courts sitting in the
City of Orlando, Orange County, Florida, (y) agree that any process in any action commenced in such court under this Agreement
may be served upon him personally, either (A) by certified or registered mail, return receipt requested, or by an overnight courier
service which obtains evidence of delivery, with the same full force and effect as if personally served in Miami, Florida, or
(B) by any other method of service permitted by law, and (z) waives any claim that the jurisdiction of any such court is not a
convenient forum for any such action and any defense of lack of in personam jurisdiction with respect thereof.

 

(e) Indemnification
and Directors’ and Officers’ Liability Insurance.

 

(i) The
Company will obtain directors’ and officer’ liability insurance and Executive will be entitled to the benefits of
such policy in accordance with the terms of the policy. The Company shall also provide Executive with indemnification as provided
in the Company’s by-laws subject to the provisions of Section 10(e)(ii) of this Agreement.

 

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(ii) The
Company and Executive further agree that (a) the Company will advance legal fees and disbursements on behalf of Executive in connection
with any action commenced by a third party claiming that Executive’s execution of this Agreement and the performance of
his duties as Chief Executive Officer violate his contractual or other obligations to such third party or its affiliates, and
that (b) in the event that a judgment or settlement, final beyond right of appeal, all time for appeal having lapsed, results
in a determination that Executive’s conduct violated such contractual or other obligations, Executive shall reimburse the
Company for legal expenses paid on Executive’s behalf as well as legal expenses incurred by the Company on its own behalf.
In no event shall the Company indemnify Executive for any payments which Executive is required to pay as a result of an adverse
judgment or settlement in an action described in this Section 10(e)(ii).

 

(f) Partial
Invalidity. If any term, covenant or condition of this Agreement or the application thereof to any party or circumstance shall,
to any extent, be determined to be invalid or unenforceable, the remainder of this Agreement, or the application of such term,
covenant or condition to parties or circumstances other than those as to which it is held invalid or unenforceable, shall not
be affected thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent
permitted by law, and any court or arbitrator having jurisdiction may reduce the scope of any provision of this Agreement, including
the geographic and temporal restrictions set forth in Section 7 of this Agreement, so that it complies with applicable law.

 

(g) Binding
Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs,
successors, executors, administrators and permitted assigns.

 

(h) Headings.
The headings in this Agreement are for convenience of reference only and shall not affect in any way the construction or interpretation
of this Agreement.

 

(i) Remedies.
No delay or omission to exercise any right, power or remedy accruing to either party hereto shall impair any such right, power
or remedy or shall be construed to be a waiver of or an acquiescence to any breach hereof. No waiver of any breach hereof shall
be deemed to be a waiver of any other breach hereof theretofore or thereafter occurring. Any waiver of any provision hereof shall
be effective only to the extent specifically set forth in an applicable writing. All remedies afforded to either party under this
Agreement, by law or otherwise, shall be cumulative and not alternative and shall not preclude assertion by such party of any
other rights or the seeking of any other rights or remedies against any other party.

 

(j) Delivery.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other parties, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of
the party executing with the same force and effect as if such facsimile or “.pdf” signature page were an original
thereof. If less than a complete copy of this Agreement is delivered by either party, the other party is entitled to assume that
delivering party accepts and agrees to all of the terms and conditions of the pages not delivered unaltered.

 

[Signatures
on following page]

 

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IN
WITNESS WHEREOF, the parties hereto have signed, or caused to be signed this agreement as of the date first set forth herein.

 

	Email and Telecopier	Signature
	 	NUTRIBAND INC.

 

	 	By:	/s/ Serguei Melnik
	 	 	Name: Serguei Melnik
	 	 	Title: Chief Financial Officer
	 	 	 
	Email: gareth@nutriband.com	 	 
	 	 	 
	 	 	/s/ Gareth Sheridan
	 	 	Gareth Sheridan

 

[Signature
page to Employment Agreement dated April 23, 2019 between Gareth Sheridan and Nutriband Inc.]

 

 

10Exhibit 10.16

 

EMPLOYMENT
AGREEMENT

 

EMPLOYMENT
AGREEMENT, made the 23rd day of April, 2019, by and between Serguei Melnik, an individual with an address at 309 Celtic Ct., Oviedo,
FL 32765 (“Executive”) and Nutriband Inc., a Nevada corporation with an address at 121 South Orange Ave., Suite 1500,
Orlando, FL (the “Company”).

 

W
I T N E S S E T H:

 

WHEREAS,
Executive is a party to an employment agreement dated February 1, 2018 (the “Prior Employment Agreement”) with the
Company pursuant to which the Company employed the Executive as its Chief Financial Officer; and

 

WHEREAS,
Executive is willing to continue to serve as the Company’s Chief Financial Officer of the Company, and the Company agrees
to employ Executive as its Chief Financial Officer, on and subject to the terms and conditions set forth in this Agreement, and

 

WHEREAS,
the Company and Executive desire to amend and restate the Prior Employment Agreement; and

 

WHEREFORE,
in consideration of the mutual promises set forth in this Agreement, the parties do hereby agree as follows:

 

1. Employment
and Duties.

 

(a) Subject
to the terms and conditions of this Agreement, the Company hereby employs Executive as its Chief Financial Officer, and he shall
have the duties and responsibilities associated with the Chief Financial Officer of a public corporation. The Executive shall
report to the Company’s Chief Executive Officer. Executive shall also perform such other duties and responsibilities as
may be determined by the Company’s board of directors (the “Board”), as long as such duties and responsibilities
are consistent with those of the Chief Financial Officer. Additionally, during the Term, as hereinafter defined, the Company shall
include Executive as one of the Board’s nominees for election as a director of the Company, and, if elected as a director,
Executive shall serve as chairman of the board.

 

(b) Executive
shall serve as a director of the Company or any of its subsidiaries, if elected, and in such executive capacity or capacities
with respect to any affiliate of the Company to which he may be elected or appointed, provided that such duties are consistent
with those of the Company’s Chief Financial Officer. Executive shall receive no additional compensation for services rendered
pursuant to this Section 1(b).

 

(c) During
the Term, Executive shall devote his full time and attention to the performance of his duties under this Agreement, and shall
perform such duties diligently, in good faith and in a manner consistent with the best interests of the Company.

 

2. Term
and Termination. This Agreement shall have an initial term, commencing on the date of this Agreement and ending on January
31, 2024, and continuing on a year-to-year basis thereafter unless terminated by either party on not less than 30 days’
notice given prior to the expiration of the initial term or any one-year extension, unless terminated early pursuant to Section
5 of this Agreement. The initial term and the one-year extensions are collectively referred to as the “Term.” The
termination of this Agreement or the termination of the employment of Executive for any reason whatsoever shall not affect the
validity or effectiveness Sections 6 through and including 10 of this Agreement, which shall continue in full force and effect
as set forth therein.

 

     

     

    

 

3. Compensation
and Other Benefits. During the Term, for his services pursuant to this Agreement:

 

(a) For
his services to the Company during the Term, the Company shall pay Executive an annual salary (“Salary”) at the rate
of $170,000 per annum commencing in the month in which the Company shall have received not less than $2,500,000 from one or more
public or private financings of the Company’s equity securities subsequent to the date of this Agreement. The Executive’s
Salary shall be reviewed at least annually by the compensation committee of the Board and may be increased (but not decreased)
in the sole discretion of the compensation committee. All Salary payments shall be payable in such installments as the Company
regularly pays its executive officers, but not less frequently than semi-monthly. In the event that the Company does not have
a compensation committee, all references in this Agreement to the compensation committee shall be deemed to refer to the Board
without the participation or attendance by the Executive unless such participation is required in order that there be a quorum.

 

(b) The
Executive shall be eligible for such bonus or incentive compensation, including equity-based incentives, as shall be determined
from time to time by the Compensation Committee.

 

(c) During
the Term, the Executive shall receive, at the Company’s full cost and expense:

 

(i) Medical
insurance selected by the Executive from those coverage options that the Company offers to its executive employees from time to
time.

 

(ii) Vacation
in accordance with company policy; provided that any unused vacation shall be accrued without limitation or restriction.

 

(d) The
Executive shall also receive such other benefits as the Board may grant to its executive officers.

 

4. Expenses.
The Company shall reimburse Executive, upon presentation of proper expense statements, for all authorized, ordinary and necessary
out of pocket expenses reasonably incurred by Executive during the Term in connection with the performance of his services pursuant
to this Agreement in accordance with the Company’s expense reimbursement policy for executive officers as in effect from
time to time.

 

5. Termination
of Employment.

 

(a) This
Agreement and Executive’s employment shall terminate immediately upon his death.

 

(b) This
Agreement and Executive’s employment may be terminated by Executive or by the Company on not less than thirty (30) days’
written notice in the event of Executive’s Disability. The term “Disability” shall mean any illness, disability
or incapacity of Executive which prevents him from substantially performing his regular duties for a period of three (3) consecutive
months or four (4) months, even though not consecutive, in any twelve (12) month period. In the event of a termination for a Disability,
the Company shall pay Executive his Salary, as in effect on the date of such termination, until the earlier of (i) the expiration
of the Term or (ii) one year from the date of such termination.

 

    2

     

    

 

(c) The
Company may terminate this Agreement and Executive’s employment for Cause, in which event no further Salary or other benefits
shall be payable to Executive subsequent to the date of termination. The term “Cause” shall mean:

 

(i) repeated
failure to perform material instructions from the Board; provided that such instructions are reasonable and consistent with Executive’s
duties as set forth in Section 1 of this Agreement, which failure shall not have been cured within 30 days of his receipt of written
notice setting forth in reasonable detail the nature of such failure;

 

(ii) a
material breach of Sections 6 or 7 of this Agreement;

 

(iii) fraud,
dishonesty, gross misconduct or other breach of trust whereby Executive obtains personal gain or benefit at the expense of or
to the detriment of the Company;

 

(iv) a
conviction of or plea of nolo contendere or similar plea by Executive of any felony; or

 

(v) a
conviction of or plea of nolo contendere or similar plea by of any other crime involving theft, misappropriation of property or
illegal substances.

 

(d) Executive
may terminate this Agreement on 30 days’ written notice for Good Reason. Executive shall deliver to the Company, within
ninety (90) days following the event constituting Good Reason, a written notice of termination for Good Reason setting forth in
reasonable detail the facts and circumstances claimed by Executive to provide a basis for the termination for Good Reason, and
the Company shall have a period of thirty (30) days following receipt of such notice to cure such grounds for Good Reason prior
to such termination by Executive for Good Reason becoming effective. Executive’s purported termination for Good Reason shall
not take effect if the Company effects such cure within the thirty (30)-day period. As used in this Agreement, the term “Good
Reason” shall mean:

 

(i) Without
the consent of Executive, Executive is no longer the Company’s Chief Financial Officer.

 

(ii) Any
material breach by the Company of the terms of this Agreement.

 

(e) In
the event of a termination by Executive for Good Reason, the Company shall continue to pay Executive his compensation and medical
insurance for the balance of the Term.

 

    3

     

    

 

6. Ownership
of Intellectual Property.

 

(a) “Inventions”
means all inventions, ideas, discoveries, developments, methods, data, information, improvements, original works, know-how, including,
but not limited to, algorithms, technology, trade secrets, processes, codes and hardware (whether or not reduced to practice and
whether or not protectable under the patent, copyright, trade secrecy or similar laws of the United States) which:

 

(i) relate
to the Company’s business or its proposed business at the time of conception or reduction to practice or actual or demonstrably
anticipated research or development of Company that were conceived, created or developed by Executive (whether alone or with others,
whether or not during working hours or on the Company’s premises or whether or not using material or property provided by
the Company) during the Term; and/or      

 

(ii) were
conceived, created or developed by Executive (whether alone or with others) during the Term, even if having possibly been conceived,
created or developed prior to the Term but completed while in the employ of the Company, or which result from any work performed
by Executive for Company.

 

(b) All
Inventions are, will be, and shall constitute “works-for-hire” and the exclusive property of the Company, and the
Company may use and exploit them without restriction or additional compensation to Executive.  Executive shall promptly and
fully disclose to the Company any and all Inventions.  Executive shall maintain complete written records of all Inventions
and of all work or investigations done or carried out by Executive at all stages thereof, which records shall be the exclusive
property of the Company and will be treated as Confidential Information for all purposes of this Agreement.

 

(c) Executive
hereby irrevocably assigns and transfers to the Company, its successors, assigns or Affiliates, as the case may be, all of Executive’s
right, title and interest in and to any Inventions without additional consideration therefor from the moment of their creation
or inception, to be held and enjoyed by the Company, its successors, assigns or Affiliates, as the case may be, to the full extent
of the term for which any intellectual property protection may be granted and as fully as the same would have been held by Executive
had this Agreement, or such assignment or transfer not been made.   In addition to the foregoing assignments of Inventions
to the Company, Executive hereby irrevocably assigns and transfers to the Company: (i) all worldwide patents, trademarks, copyrights,
mask works, trade secrets, applications for the foregoing and other intellectual property rights in any Inventions; and (ii) any
and all “Moral Rights” (as defined below) that Executive may have in or with respect to any Inventions.  Executive
hereby forever waives and agrees never to assert any and all Moral Rights Executive may have in or with respect to any such Inventions,
even after the termination of Executive’s employment.

 

(d) “Moral
Rights” means any right to claim authorship of any Inventions, or to withdraw from circulation or control the publication
or distribution of any Inventions, and any similar right, existing under judicial or statutory law of any country in the world,
or under any treaty, regardless of whether or not such right is denominated or generally referred to as a moral right.

 

(e) Executive
agrees to cooperate fully in obtaining patent, copyright or other proprietary protection for such Inventions, all in the name
of the Company, its successors, assigns  or Affiliates, as the case may be, and at the Company’s cost and expense,
and shall execute and deliver all requested applications, assignments and other documents and take such other actions as the Company,
its successors, assigns or Affiliates, as the case may be, shall request in order to perfect, enforce and exploit the Company’s,
its successors,’ assigns’ or Affiliates,’ as the case may be, right in the Inventions (including transfer of
possession to the Company, its successors, assigns or Affiliates, as the case may be, of all Inventions embodied in tangible materials),
including granting Company a non-revocable, perpetual, royalty-free license in any pre-existing works.  Executive irrevocably
designates and appoints the Company and its duly authorized officers and agents as his agents and attorneys-in-fact to execute
and file any and all applications and other necessary documents and to do all other lawfully permitted acts to further perfect
and enforce the Company’s, its successors’, assigns’ or Affiliates’ (as the case may be) right in the
Inventions and to further the prosecution, issuance or enforcement of patents, copyrights, trade secrets and similar protections
related to the Inventions with the same legal force and effect as he had executed them himself.  Executive shall receive
no additional compensation for complying with Executive’s obligations under this Section 6.  Executive agrees that,
to the extent this Agreement shall be construed in accordance with any laws that limit the assignability to the Company, its successors,
assigns or Affiliates (as the case may be) of the Inventions, this Agreement shall be interpreted not to apply to any Invention
which a court rules or the Company agrees is subject to such state limitation.

 

    4

     

    

 

(f) Any
copyrightable work created by Executive in connection with or during the performance of his employment duties, whether published
or unpublished, shall be the property of the Company as author and owner of copyright in such work. 

 

(g) Executive
warrants and represents that there are no Inventions (whether patentable or not), patents, trade secrets, trademarks, trade names,
copyrights, or other intellectual property owned by him prior to entering into employment with the Company hereunder, and that
he has not executed and will not execute any document or instrument in conflict herewith.

 

7. Confidential
Information.

 

(a) Executive
recognizes and acknowledges that the Company, through the expenditure of considerable time and money, has developed and will continue
to develop in the future information concerning customers, licensee, intellectual property rights, including plans relating to
the development, implementation, marketing and monetization of intellectual property right, clients, marketing, patents, products,
services, business, research and development activities and operational methods of the Company and its customers, licensees, licensors
or clients, contracts, financial or other data, technical data or any other confidential or proprietary information possessed,
owned or used by the Company, the disclosure of which could or does have a material adverse effect on the Company, its business,
any business it proposes to engage in, its operations, financial condition or prospects and that the same are confidential and
proprietary and considered “Confidential Information” of the Company for the purposes of this Agreement. In consideration
of his employment, Executive agrees that he will not, during or after the Term, without the consent of the Company make any disclosure
of Confidential Information now or hereafter possessed by the Company, to any person, partnership, corporation or entity either
during or after the term here of, except that nothing in this Agreement shall be construed to prohibit Executive from using or
disclosing such information (a) if such disclosure is necessary in the normal course of the Company’s business in accordance
with the Company policies or instructions or authorization from the Board, (b) such information shall become public knowledge
other than by or as a result of disclosure by a person not having a right to make such disclosure, (c) complying with legal process
as provided in Section 7(b) of this Agreement, or (d) subsequent to the Term, if such information shall have either (i) been developed
by Executive independent of any of the Company’s confidential or proprietary information and does not include and is not
based on any Inventions assigned to the Company pursuant to Section 6 of this Agreement or (ii) been disclosed to Executive by
a person not subject to a confidentiality agreement with or other obligation of confidentiality to the Company. For the purposes
of Sections 6, 7 and 8 of this Agreement, the term “the Company” shall include the Company, its parent, its subsidiaries
and Affiliates.

 

    5

     

    

 

(b) In
the event that any Confidential Information is required to be produced by Executive pursuant to legal process, Executive shall
give the Company notice of such legal process within a reasonable time, but not later than ten business days prior to the date
such disclosure is to be made, unless Executive has received less notice, in which event Executive shall immediately notify the
Company. The Company shall have the right to object to any such disclosure, and if the Company objects (at the Company’s
cost and expense) in a timely manner, Executive shall not make any disclosure until there has been a court determination on the
Company’s objections. If disclosure is required by a court order, final beyond right of review, or if the Company does not
object to the disclosure, Executive shall make disclosure only to the extent that disclosure is required by the court order, and
Executive will exercise reasonable efforts to obtain reliable assurance from the person to whom such Confidential Information
is disclosed that such person will treat the Confidential Information as confidential.

 

(c) Executive
shall, upon expiration or termination of the Term, or earlier at the request of the Company, turn over to the Company all documents,
papers, computer disks or other material in Executive’s possession or under Executive’s control which may contain
or be derived from Confidential Information. To the extent that any Confidential Information is on Executive’s hard drive
or other storage media, he shall, upon the request of the Company, cause such information to be erased from his computer disks
and all other storage media.

 

(d) Executive
shall not during the Term and for one year thereafter:

 

(i) Persuade
or attempt to persuade any person or entity which is or was a customer, client, licensee or licensor of the Company to cease doing
business with the Company, or to reduce the amount of business it does with the Company (the terms “customer,” “licensee,”
“licensor,” and “client” as used in this Section 7 to include any potential customer, licensee, licensor
or client to whom the Company submitted bids or proposals, or with whom the Company conducted negotiations, during the term of
Executive’s employment or during the twelve (12) months preceding the termination of his employment;

 

(ii) Solicit
for himself or any other person or entity other than the Company the business of any person or entity which is a customer or client
of the Company, or was a customer or client of the Company within two (2) years prior to the termination of his employment; or

 

(iii) Persuade
or attempt to persuade any employee of the Company, or any individual who was an employee of the Company during the one (1) year
period prior to the termination of this Agreement, to leave the Company’s employ, or to become employed by any person or
entity other than the Company

 

(e) Executive
acknowledges that the restrictive covenants (the “Restrictive Covenants”) contained in Sections 6 and 7 of this Agreement
are a condition of his employment and are reasonable and valid in geographical and temporal scope and in all other respects. If
any court or arbitrator determines that any of the Restrictive Covenants, or any part of any of the Restrictive Covenants, is
invalid or unenforceable, the remainder of the Restrictive Covenants and parts thereof shall not thereby be affected and shall
remain in full force and effect, without regard to the invalid portion. If any court or arbitrator determines that any of the
Restrictive Covenants, or any part thereof, is invalid or unenforceable because of the geographic or temporal scope of such provision,
such court or arbitrator shall have the power to reduce the geographic or temporal scope of such provision, as the case may be,
and, in its reduced form, such provision shall then be enforceable.

 

    6

     

    

 

8. Injunctive
Relief. Executive agrees that his violation or threatened violation of any of the provisions of Sections 6 and 7 of this Agreement
shall cause immediate and irreparable harm to the Company. In the event of any breach or threatened breach of any of said provisions,
Executive consents to the entry of preliminary and permanent injunctions by a court of competent jurisdiction prohibiting Executive
from any violation or threatened violation of such provisions and compelling Executive to comply with such provisions. This Section
8 shall not affect or limit, and the injunctive relief provided in this Section 8 shall be in addition to, any other remedies
available to the Company at law or in equity or in arbitration for any such violation by Executive. Subject to Section 7(e) of
this Agreement, the provisions of Sections 6, 7, 8, 9 and 10 of this Agreement shall survive any termination of this Agreement
and Executive’s employment.

 

9. Representations
and Warranties of Executive. Executive represents and warrants as follows:

 

(a) Executive
has the right to enter into this Agreement. Neither the execution of this Agreement nor the performance by Executive of his obligations
pursuant to this Agreement violates any agreement to which Executive is a party or by which he is bound. In particular, Executive
is not subject to any employment agreement, restrictive covenant or stockholders or partnership agreement which would impair his
ability to enter into this Agreement and perform his duties as Chief Financial Officer. In the performance of his duties pursuant
to this Agreement, Executive shall not use or disclose to the Company any confidential information which is the property of any
other person.

 

(b) Executive
will not purchase, sell or otherwise transfer or acquire or assist any person to purchase, sell or otherwise transfer or acquire
any of the Company’s securities (i) when in possession of material non-public information and (ii) during the period commencing
on the 15th day of the last month of each calendar quarter and ending on the day after the date on which the Company
files its annual report on Form 10-K or quarterly report on Form 10-Q for the applicable period.

 

10. Miscellaneous.

 

(a) Definitions.

 

(i) “Affiliate”
of the Company shall mean any person or entity which controls, is controlled by or is under common control with the Company.

 

(ii) “Person”
shall mean an individual, corporation, partnership, limited partnership, joint venture, association, trust, unincorporated organization,
limited liability the Company or other entity.

 

(b) Entire
Agreement. This Agreement constitutes the entire agreement of the Company and Executive as to the subject matter hereof, superseding
all prior or contemporaneous written or oral understandings or agreements, with respect to the subject matter covered in this
Agreement including the Prior Employment Agreement, provided that any intellectual property or intellectual property rights assigned
to the Company pursuant to the Prior Employment Agreement shall remain the property of the Company. This Agreement may not be
modified or amended, nor may any right be waived, except by a writing which expressly refers to this Agreement, states that it
is intended to be a modification, amendment or waiver and is signed by both parties in the case of a modification or amendment
or by the party granting the waiver. No course of conduct or dealing between the parties and no custom or trade usage shall be
relied upon to vary the terms of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement
on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence
to that term or any other term of this Agreement.

 

    7

     

    

 

(c) Notice.
Any notice, consent or communication required under the provisions of this Agreement shall be given in writing and sent or delivered
by hand, overnight courier or messenger service, against a signed receipt or acknowledgment of receipt, or by registered or certified
mail, return receipt requested, or telecopier, email or similar means of communication (collectively “electronic communications”)
if receipt is acknowledged or if transmission is confirmed by mail as provided in this Section 10(c), to the parties at their
respective addresses set forth at the beginning of this Agreement or by electronic delivery to the telecopier or email set forth
on the signature page of this Agreement, with notice to the Company being sent to the attention of the individual who executed
this Agreement on behalf of the Company. Either party may, by like notice, change the person, address or electronic communications
number or address to which notice is to be sent. If no telecopier number is provided for either party, notice to such party shall
not be sent by telecopier.

 

(d) Governing
Law; Dispute Resolution; Jurisdiction.

 

(i) 
This Agreement shall in all respects be construed and interpreted in accordance with, and the rights of the parties shall be governed
by, the laws of the State of Florida applicable to agreements executed and to be performed wholly in such state without regard
to principles of conflicts of laws. Except with respect to Section 8 of this Agreement, the parties hereby agree that any dispute
arising out of or based upon this Agreement shall be submitted to binding arbitration in the City of Orlando, Orange County, Florida
in accordance with the rule then in effect of the American Arbitration Association. The decision of the arbitrator(s) shall be
binding on all parties and judgment on the arbitration award may be entered in any court having jurisdiction. In making a decision,
the arbitrator(s) shall have no authority to modify or amend any provisions of this Agreement except as expressly provided in
Section 7(e) of this Agreement.

 

(ii) With
respect to any action seeking injunctive relief pursuant to Section 8 of this Agreement or an action to compel arbitration pursuant
to Section 10(d)(i), the parties hereby (x) consent to the exclusive jurisdiction of the federal and state courts sitting in the
City of Orlando, Orange County, Florida, (y) agree that any process in any action commenced in such court under this Agreement
may be served upon him personally, either (A) by certified or registered mail, return receipt requested, or by an overnight courier
service which obtains evidence of delivery, with the same full force and effect as if personally served in Miami, Florida, or
(B) by any other method of service permitted by law, and (z) waives any claim that the jurisdiction of any such court is not a
convenient forum for any such action and any defense of lack of in personam jurisdiction with respect thereof.

 

(e) Indemnification
and Directors’ and Officers’ Liability Insurance.

 

(i) The
Company will obtain directors’ and officer’ liability insurance and Executive will be entitled to the benefits of
such policy in accordance with the terms of the policy. The Company shall also provide Executive with indemnification as provided
in the Company’s by-laws subject to the provisions of Section 10(e)(ii) of this Agreement.

 

    8

     

    

 

(ii) The
Company and Executive further agree that (a) the Company will advance legal fees and disbursements on behalf of Executive in connection
with any action commenced by a third party claiming that Executive’s execution of this Agreement and the performance of
his duties as Chief Financial Officer violate his contractual or other obligations to such third party or its affiliates, and
that (b) in the event that a judgment or settlement, final beyond right of appeal, all time for appeal having lapsed, results
in a determination that Executive’s conduct violated such contractual or other obligations, Executive shall reimburse the
Company for legal expenses paid on Executive’s behalf as well as legal expenses incurred by the Company on its own behalf.
In no event shall the Company indemnify Executive for any payments which Executive is required to pay as a result of an adverse
judgment or settlement in an action described in this Section 10(e)(ii).

 

(f) Partial
Invalidity. If any term, covenant or condition of this Agreement or the application thereof to any party or circumstance shall,
to any extent, be determined to be invalid or unenforceable, the remainder of this Agreement, or the application of such term,
covenant or condition to parties or circumstances other than those as to which it is held invalid or unenforceable, shall not
be affected thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent
permitted by law, and any court or arbitrator having jurisdiction may reduce the scope of any provision of this Agreement, including
the geographic and temporal restrictions set forth in Section 7 of this Agreement, so that it complies with applicable law.

 

(g) Binding
Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs,
successors, executors, administrators and permitted assigns.

 

(h) Headings.
The headings in this Agreement are for convenience of reference only and shall not affect in any way the construction or interpretation
of this Agreement.

 

(i) Remedies.
No delay or omission to exercise any right, power or remedy accruing to either party hereto shall impair any such right, power
or remedy or shall be construed to be a waiver of or an acquiescence to any breach hereof. No waiver of any breach hereof shall
be deemed to be a waiver of any other breach hereof theretofore or thereafter occurring. Any waiver of any provision hereof shall
be effective only to the extent specifically set forth in an applicable writing. All remedies afforded to either party under this
Agreement, by law or otherwise, shall be cumulative and not alternative and shall not preclude assertion by such party of any
other rights or the seeking of any other rights or remedies against any other party.

 

(j) Delivery.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other parties, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of
the party executing with the same force and effect as if such facsimile or “.pdf” signature page were an original
thereof. If less than a complete copy of this Agreement is delivered by either party, the other party is entitled to assume that
delivering party accepts and agrees to all of the terms and conditions of the pages not delivered unaltered.

 

[Signatures
on following page]

 

    9

     

    

 

IN
WITNESS WHEREOF, the parties hereto have signed, or caused to be signed this agreement as of the date first set forth herein.

 

	Email and Telecopier	Signature
	 	NUTRIBAND INC.

 

	 	By:	/s/ Gareth Sheridan
	 	 	Name: Gareth Sheridan
	 	 	Title: Chief Executive Officer
	 	 	 
	Email: serguei.melnik@nutriband.com	 	 
	 	 	 
	 	 	/s/ Serguei Melnik
	 	 	Serguei Melnik

 

[Signature
page to Employment Agreement dated April 23, 2019 between Serguei Melnik and Nutriband Inc.]

 

 

10

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