Document:

Exhibit
10.22 

 

		102
    Woodmont Blvd., Suite 

610 Nashville, TN 37205 

www.meltpharma.com

 

February
18, 2022

 

VIA
EMAIL: [***]

 

Dear
Mr. Osborne,

 

Welcome
to Melt Pharmaceuticals! We are pleased to extend an offer of employment to you as the Chief Financial Officer. Your start date
is effective February 28, 2022. Your compensation will be $335,000 annually, less applicable withholdings, paid bi-weekly.
This is a full-time, exempt level position. You will also be eligible to participate in our performance incentive plan with your initial
target bonus at 40% of your annual salary amount, paid annually. Any such performance incentive plan and related bonus, which
shall be voluntary and not guaranteed, shall be based on a review and multi-factorial assessment of the Company’s condition, which
may also include Executive’s performance, and shall be conducted by the Company’s Board of Directors.

 

Melt
Pharmaceuticals, Inc. has an excellent benefits program including comprehensive medical, dental and vision plans. You will be eligible
to participate in our medical, dental and vision plans effective April 1, 2022. In addition, you will have a 20 day/160 hour personal
time off (PTO) account, which accrues bi-weekly. You will become eligible to participate in our 401(k) plan following six months of employment.

 

You
will be granted an option to purchase 125,000 shares of Melt Pharmaceuticals, Inc. common stock. The stock option granted to you will
have a vesting commencement of February 28, 2022 and will be granted at the time a fair market value for Melt’s common stock
has been determined by a third party valuation firm and the value has been approved by the Melt Board of Directors. All other details
of our stock option plan will be explained to you shortly after any stock option is approved. Your entitlement to any stock options that
may be approved is, of course, conditioned upon your signing of the Stock Option Agreement and is subject to its terms and the terms
of the Melt Incentive Stock and Awards Plan under which the options are granted.

 

Melt
will also reimburse you for reasonable out-of-pocket expenses incurred in connection with your service as a Chief Financial Officer,
including, but not limited to, reasonable travel expenses to the Melt Nashville office while you are based in Virginia, in accordance
with the Company’s reimbursement policies.

 

It
is expected and you agree to use your best efforts to relocate to the Nashville, Tennessee area on or around the six-month anniversary
of employment.

 

In
consideration of your relocation to Nashville, Tennessee or its vicinity, Melt will provide a stipend of $10,000, which amount will be
subject to applicable withholdings and taxes, to cover relocation and temporary housing costs. Should you decide to end your employment
with Melt Pharmaceuticals, Inc. within twelve (12) months of your hire date, you will be responsible for reimbursing us the amount paid
in relocation and housing costs which repayment of the relocation stipend would be deducted from your final paycheck. If there is an
Involuntary Termination (as defined below) of your employment within twelve (12) months of your start date, the stipend will not require
repayment.

 

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If
at any time after the sixth month anniversary of your start date (1) the Company terminates Executive’s employment without Cause
(as defined below and other than as a result of Executive’s death or disability), or (2) Executive resigns employment with the
Company for Good Reason (as defined below), and provided in any case such termination or resignation constitutes a “separation
from service”, as defined under Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”) (such termination
described in (1) or (2), an “Involuntary Termination”), Executive shall be entitled to receive the following
severance benefits, subject in all events to Executive’s compliance with the below:

 

(i)
Executive shall receive a severance payment equal to the sum of (1) six (6) months of Executive’s Base Salary in effect on the
effective date of Executive’s Involuntary Termination (ignoring any decrease that forms the basis for Executive’s
resignation for Good Reason, if applicable) plus (2) the greater of Executive’s (x) Annual Bonus for the calendar year
preceding the calendar year in which the Involuntary Termination occurs or (y) target Annual Bonus for the year of Involuntary
Termination, which shall be paid in a lump sum on the thirtieth (30th) day following Executive’s Involuntary
Termination.

 

(i)
Executive may receive an Annual Bonus, consistent with the first paragraph of this Offer of Employment letter, for the year in which
the Involuntary Termination occurs, determined based on actual results for such year and pro-rated for the period of time during
such year in which Executive provided services to the Company prior to his Involuntary Termination, which shall be paid in a lump
sum in accordance with Company practice for payment of the Annual Bonus, which shall in any event be on or before March 15 of the
year following the year in which the Involuntary Termination occurs.

 

(i)
If Executive is eligible for and timely elects to continue Executive’s health insurance coverage under the Company’s
group health plans under the Consolidated Omnibus Budget Reconciliation Act of 1985 or the state equivalent
(“COBRA”) following Executive’s Involuntary Termination, the Company will pay the COBRA group health
insurance premiums for Executive and Executive’s eligible dependents until the earliest of (A) the end of the six (6)-month
period following Executive’s Involuntary Termination, (B) the expiration of Executive’s eligibility for the continuation
coverage under COBRA, or (C) the date when Executive becomes eligible for substantially equivalent health insurance coverage in
connection with new employment or self-employment. For purposes of this Section, references to COBRA premiums shall not include any
amounts payable by Executive under a Section 125 health care reimbursement plan under the U.S. Internal Revenue Code.
Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums
without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the
Public Health Service Act), then regardless of whether Executive elects continued health coverage under COBRA, and in lieu of
providing the COBRA premiums, the Company will instead pay Executive on the last day of each remaining month in the six (6)-month
period following Executive’s Involuntary Termination, a fully taxable cash payment equal to the COBRA premiums for that month,
subject to applicable tax withholdings (such amount, the “Health Care Benefit Payment”). The Health Care
Benefit Payment shall be paid in monthly installments on the same schedule that the COBRA premiums would otherwise have been paid
and shall be equal to the amount that the Company would have otherwise paid for COBRA premiums, and shall be paid until the earlier
of (i) expiration of the six (6)-month period following Executive’s Involuntary Termination or (ii) the date when Executive
becomes eligible for substantially equivalent health insurance coverage in connection with new employment or
self-employment.

 

Cause:
shall mean, with respect to the Executive, the occurrence of any of the following events: (i) such Executive’s commission of any
felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (ii) such
Executive’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (iii) such Executive’s
intentional, material violation of any contract or agreement between the Executive and the Company or of any statutory duty owed to the
Company; (iv) such Executive’s unauthorized use or disclosure of the Company’s confidential information or trade secrets;
or (v) such Executive’s gross misconduct. The determination that a termination of the Executive’s continuous service is either
for Cause or without Cause will be made by the Company.

 

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Good
Reason: shall mean the occurrence of any of the following without Executive’s prior written consent: (i) a material reduction
in Executive’s Annual Base Salary; (ii) the relocation of Executive to a facility or location that is more than fifty (50) miles
from his primary place of employment and such relocation results in an increase in Executive’s one-way driving distance by more
than fifty (50) miles; or (iii) a material and adverse change in Executive’s authority, duties, or responsibilities with the Company
or a material and adverse change in Executive’s reporting relationship, in each case other than any isolated, insubstantial and
inadvertent failure by the Company that is not in bad faith and is cured within ten (10) business days after Executive gives the Company
notice of such event, which must be given within ninety (90) calendar days after the event giving rise to the claim of Good Reason occurs
Executive’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to
act constituting Good Reason hereunder; provided, however, that no event described above shall constitute Good Reason unless (A) Executive
gives notice of termination to the Company specifying the condition or event relied upon for such termination within ninety (90) calendar
days of the initial existence of such event, and (B) the Company fails to cure the condition or event constituting Good Reason within
thirty (30) days following receipt of Executive’s notice of termination (the “Cure Period”). If the Company fails to
remedy the condition or event constituting Good Reason during the applicable Cure Period, Executive’s “separation from service”
(within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (together with the Treasury regulations and guidance
issued thereunder, the “Code”)) must occur, if at all, within ninety (90) days following such Cure Period in order for such
termination as a result of such condition or event to constitute a termination for Good Reason.

 

Please
let us know of your decision to join Melt Pharmaceuticals, Inc.by signing this offer letter and returning it to us no later than February
21, 2022 at 5:00 pm ET. This letter sets forth our entire agreement and understanding regarding the terms of your employment with
Melt Pharmaceuticals, Inc. and supersedes all prior or contemporaneous agreements, understandings, negotiations or representations, whether
oral or written, expressed or implied, on this subject. This letter may not be modified or amended except by a specific, written agreement
signed by you and an authorized representative Melt Pharmaceuticals, Inc.

 

Your
offer and employment is contingent upon:

 

	 	●	Signing
    and abiding by the Company’s Confidentiality Agreement, Arbitration Agreement and the Proprietary Information and Inventions
    Assignment Agreement;
	 	●	Successful
    completion of a routine background check by an outside agency engaged by Melt Pharmaceuticals, Inc. and its subsidiaries to conduct
    background and reference checking;
	 	●	Successful
    passage of a drug and alcohol screening test;
	 	●	Licensing
    or certification requirements;
	 	●	Acceptance
    of other company policies and procedures, including, but not limited to, our Employee Manual, Code of Business Conduct and Ethics,
    and Insider Trading Policy.

 

Your
employment with Melt Pharmaceuticals, Inc. will be “at-will.” This means you may resign at any time and for any reason. Likewise,
the company may terminate the employment relationship at any time, with or without cause or advance notice. In addition, Melt Pharmaceuticals,
Inc. reserves the right to modify your position, duties and/or reporting relationship to meet business needs and to use its discretion
in deciding on appropriate discipline. Any change to the at-will employment relationship must be by a specific, written agreement, signed
by you and Melt Pharmaceuticals, Inc.

 

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You
also must establish your identity and authorization to work as required by the Immigration Reform and Control Act of 1986 (IRCA). Enclosed
is a copy of the Employment Verification Form (I-9), with instructions required by IRCA. Please review this document and bring the appropriate
original documentation on your first day of work.

 

To
indicate your acceptance of Melt Pharmaceuticals, Inc. offer of employment, on the terms and conditions set forth in this letter, please
sign and date this letter in the space provided below and return it to Laura Sherry, at 102 Woodmont Blvd., Suite 610, Nashville, TN
37205 or via email to [***].

 

We
hope your employment with Melt Pharmaceuticals, Inc. will prove mutually rewarding.

 

	Sincerely,	 
	 	 
	/s/
    Larry Dillaha	 
	 	 
	Dr.
    Larry Dillaha	 
	Chief
    Executive Officer	 

 

*          *          *

 

I
have read this agreement in its entirety and agree to the terms and conditions of employment described in these documents. I understand
and agree that my employment with Melt Pharmaceuticals, Inc. is at-will. Your employment relationship with Melt Pharmaceuticals, Inc.
will be subject to the terms and conditions of this letter.

 

	2/21/2022	 	/s/
    Donald Bradford Osborne
	Date	 	Brad
    Osborne

 

    	Page
                                            4 of
                                            4Exhibit
10.23 

 

		200
                                            Reservoir Street, Suite 303

    Needham,
    MA 02494

    www.meltpharma.com

 

May
28, 2021 

 

Mark
Hazard

[***]

[***]

 

Re:
Separation of Employment

 

Dear
Mr. Hazard,

 

This
letter summarizes the terms of your separation of employment with Melt Pharmaceuticals.

 

	1.	Date
                                            of Termination. Your employment with Melt Pharmaceuticals has changed due to termination
                                            of position.
	 	 
	2.	Salary/Accrued
                                            Paid Time Off/Expense Reimbursement. You will be paid out all outstanding wages through
                                            May 28, 2021. As of the date of your termination/separation, you had 240
                                            hours of Paid Time Off (PTO) accrued.
	 	 
	3.	Health/Retirement
                                            Benefits. You will receive information explaining your health insurance continuation
                                            coverage rights via mail from ADP. Your health benefits will be active with Melt Pharmaceuticals
                                            until May 31, 2021.
	 	 
	4.	References.
                                            We will inform any future prospective employer that our policy is to only confirm your most
                                            recently held position, dates of employment and rate of pay.
	 	 
	5.	Unemployment
                                            Benefits. The State of Massachusetts Labor & Workforce Development will determine
                                            your eligibility for unemployment benefits.
	 	 
	6.	Company
                                            Property. You are obligated to return all company property in your possession.
	 	 
	7.	Personal
                                            Property. Any personal property will be shipped to you.
	 	 
	8.	ADP
                                            Information.

 

		●	You
                                            may update your address in ADP for all future correspondence (W-2);
		●	Add
                                            your personal email address in ADP so you may reset your password, if necessary.

 

If
you have any questions regarding your termination of employment, please contact Laura Sherry, Director of Operations & Finance at
Harrow Health, Inc., [***], [***], 102 Woodmont Blvd., Suite 610, Nashville, TN 37205.

 

Sincerely,

 

/s/
Mark L. Baum

 

Mark
L. Baum

Chairman
of the Board

 

    	Page 1 of 1

     

    

 

RELEASE
AGREEMENT

 

I,
Mark Hazard understand that my employment with Melt Pharmaceuticals, Inc. (the “Company”)
will terminate effective May 28, 2021 (the “Separation Date”). The Company has agreed that in exchange
for my promises and covenants in this Release Agreement, and provided that this Release Agreement becomes effective as specified below,
the Company will provide me with the benefits specified in the attached Exhibit A (the “Severance Benefits”).
I understand that on the Separation Date, the Company will pay me any accrued salary or paid time off to which I am entitled by law,
regardless of whether I sign this Release Agreement, but I am not entitled to the Severance Benefits unless I sign and return this Release
Agreement to the Company and I allow it to become effective.

 

In
consideration for the Severance Benefits I am receiving under this Release Agreement: (1) I agree to immediately return all Company property
(including, but not limited to, all Company equipment), documents, materials, and any other embodiments (e.g., files, notes, computer-recorded
information) of the Company’s proprietary or confidential information (and all reproductions thereof, in whole or in part) in my
possession or control; (2) I acknowledge and will abide by my continuing obligation not to use or disclose the confidential or proprietary
information of the Company; (3) I agree to hold in confidence the terms of this Release Agreement; (4) I agree not to disparage the Company
or its officers, directors, managers, members, partners, employees, vendors, affiliates, or agents in any manner likely to be harmful
to its or their business, business reputation, or personal reputation; and (5) I hereby generally and completely release and discharge
the Company and its parent, subsidiaries, predecessors, successors, affiliated entities, and assigns and their respective officers, directors,
managers, members, partners, employees, shareholders, affiliates and agents (collectively, the “Released Parties”),
from any and all claims, liabilities, or obligations of every kind and nature, whether known or unknown, arising at any time prior to
or at the time I sign this Release Agreement (collectively, the “Released Claims”). The Released Claims include,
but are not limited to: all federal and state constitutional, statutory and common law claims (including but not limited to claims arising
under or based on the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990 (as amended),
the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the California Fair Employment
and Housing Act and the California Labor Code); claims related to my employment and termination of my employment; and claims for breach
of contract or other promise, tort, discrimination, harassment, retaliation, fraud, misrepresentation, emotional distress, compensation,
commissions, bonuses, benefits, or equity interests. The Released Claims do not include: (1) any rights or claims for indemnification
I may otherwise have; (2) any rights which cannot be waived as a matter of law; or (3) any claims arising from breach of this Release
Agreement. Nothing in this Release Agreement prevents me from filing, cooperating with, or participating in any investigation by or proceeding
before the Equal Employment Opportunity Commission, the Department of Labor, the California Department of Fair Employment and Housing,
or any other government agency, except that I agree to hereby waive my right to any monetary benefits in connection with any such claim,
charge, investigation or proceeding.

 

I
acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA (“ADEA Waiver”).
I also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which I was already entitled.
I further acknowledge that I have been advised by this writing, as required by the ADEA, that: (1) my ADEA Waiver does not apply to any
rights or claims that arise after the date I sign this Release Agreement; (2) I should consult with an attorney prior to signing this
Release Agreement; (3) I have 21 days to consider this Release Agreement (although I may choose to voluntarily sign it sooner); (4) I
have seven (7) days following the date I sign this Release Agreement to revoke the ADEA Waiver; and (5) this Release Agreement will not
be effective until the date upon which the revocation period has expired unexercised, which will be the eighth day after I sign this
Release Agreement (the “Effective Date”).

 

    	1

     

    

 

In
releasing claims unknown to me at present, I am waiving all rights and benefits under the following provision of Section 1542 of the
California Civil Code, and any law or legal principle of similar effect in any domestic or international jurisdiction: “A general
release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the
release, which if known by him or her must have materially affected his or her settlement with the debtor.”

 

I
hereby represent that: I have been paid all compensation owed and for all hours worked; I have received all the leave and leave benefits
and protections for which I am eligible; and I have not suffered any on-the-job injury for which I have not already filed a workers’
compensation claim.

 

This
Release Agreement, together with Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between
the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is
not expressly stated herein, and this Release Agreement supersedes any such promises or representations. This Release Agreement may only
be modified by a writing signed by both me and a duly authorized officer of the Company.

 

I
understand that, if I wish to accept the terms of this Release Agreement, then within twenty-one (21) calendar days of my receipt
of this Release Agreement, I must sign below and return the original to the Company. If I fail to return the fully signed Release
Agreement within that timeframe, the Company’s offer contained herein will terminate.

 

Understood
and Agreed:

 

	 	 	/s/
  Mark Hazard
	Date	 	Mark
  Hazard
	 	 	 
	 	 	Melt
  Pharmaceuticals, Inc.
	 	 	 
	May
  28, 2021	 	/s/
  Mark L Baum
	Date	 	By:	Mark
  L Baum, Chairman of the Board

 

    	2

     

    

 

EXHIBIT
A

 

SEVERANCE
BENEFITS

 

	1.	Severance
                                            Payment. The Company will pay you a severance payment equivalent to 9 months
                                            of your current base salary ($247,500.00) (the “Severance Payment”).
                                            The Severance Payment will be subject to standard payroll deductions and withholdings, and
                                            will be paid concurrent with the Company’s regular payroll periods following the Effective
                                            Date of this Release Agreement.
	 	 
	2.	COBRA
                                            Coverage. Company will reimburse Employee for the cost of coverage under Title X
                                            of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
                                            for Employee and his eligible dependents for a period of up to 9 months (June 2021
                                            and February 2022), provided Employee and/or his eligible dependents timely elect continuation
                                            coverage under COBRA within the time period prescribed pursuant to COBRA, and otherwise qualify
                                            for continued coverage (the “COBRA Premiums”). COBRA Premiums shall be reimbursed
                                            by the Company to Employee consistent with the Company’s normal expense reimbursement
                                            policy; provided that Employee submits documentation to the Company substantiating his payments
                                            for COBRA coverage.

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