Document:

Exhibit 10.17

TO Pharmaceuticals LLC

77 Water Street, 8th floor

New York, New York 10005

 

October 19, 2018

 

Mr. Seth Yakatan

PO Box 2140

Manhattan Beach, CA 90267

 

MANAGEMENT CONSULTING AGREEMENT

 

Dear Seth:

 

We are very pleased to offer you the position
of Interim Chief Executive Officer (“CEO”) of TO Pharmaceuticals LLC, a Delaware limited liability company (the “Company”),
effective as of October 1, 2018. This offer of is conditioned on your satisfactory completion of certain requirements, as more
fully explained in this letter. Your role as CEO will be subject to the terms and conditions set forth in this letter, which supersede
anything said or communicated to you during any discussions or correspondence about your employment with the Company or its affiliates.
Your firm, Sutherland Paige and Associates, Inc. D/B/A Katan Associates, International (“Katan”), will be engaged as
an consultant and independent contractor to the Company to provide your services on an interim basis until you and the Company
enter into a definitive employment agreement (the “Employment Agreement”).

 

Your position with the Company will be full-time,
effective immediately. This will be an exempt executive position. In your capacity as CEO, you will perform duties and responsibilities
that are reasonable and consistent with such position, and as may be assigned to you from time to time by the Company’s board
of managers (the “Board”) or its designees, in connection with which you will be generally responsible for the Company’s
operations and affairs, including without limitation completion of its financial statements, financing activities and the Company’s
merger with a public company or other public listing. You agree to devote as much time as is required and best efforts to the performance
of your duties and to the furtherance of the Company's interests, and to be subject to the Company’s customary confidentiality
and work-for-hire provisions. The Company acknowledges that Katan and Seth Yakatan may be involved in other projects during the
term of this agreement and that such efforts may require some of Seth Yakatan’s time and attention, which will not unreasonably
interfere with his duties to the Company.

 

In consideration of your services, Katan will
receive a salary of $12,500 per month; provided, that until the Company raises at least $3,000,000 in gross proceeds from one or
more financing transactions (the “3M Financing”) after the date hereof (not including any advances to the Company from
T.O. Global LLC or any affiliate thereof), the Company will pay Katan at a rate of $5,000 per month in cash billable each month
and payable within 15 days of presentation of invoices, and the remaining $7,500 per month will be deferred. The deferred amount
shall be payable solely out of the proceeds of the $3M Financing. In addition, the Company will reimburse you or Katan for reasonable
business expenses you incur on behalf of the Company, including travel expenses, upon submission of evidence thereof consistent
with the Company’s expense reimbursement policy.

 

    	 	1	 

     

    

 

In addition, you will become eligible for participation
in the equity of the Company’s successor through a grant of options to purchase common stock of such successor. The exercise
price of such options shall be based on a fair market value determined by the equity value of such successor in connection its
round of financing (the “Concurrent Financing”) to be raised substantially concurrently with having a class of equity
securities (the “Public Stock”) listed for trading on Nasdaq (the “Listing”; and collectively with Concurrent
Financing, referred to herein as “Going Public”); however, all options shall be issued with a cashless exercise feature.
Your aggregate option grant would be for 3% of the Public Stock, after giving effect to Going Public, subject to vesting as follows:

 

		(a)	One-third upon (i) (A) the Listing, and (B) such successor having raised at least $10,000,000 from
the Concurrent Financing; and (ii) you having been employed by the Company for at least six months after Going Public;

 

		(b)	One-third upon (i) the product of (A) the number of issued and outstanding shares of Public Stock,
and (B) the volume weighted average of the closing price of the Public Stock for a period of 20 consecutive trading days, equalling
or exceeding $100,000,000 on or prior to June 30, 2019, and (ii) you having been employed by the Company for at least 1 year after
Going Public; and

 

		(c)	One-third upon the Company’s completion of two phase 2 clinical studies with a plan for FDA
new drug approval through a phase 3 study in the USA.

 

Until the execution and delivery of the Employment
Agreement, your engagement and position as interim CEO will be at-will, meaning that you or the Company may terminate the relationship
at any time, with or without cause, and with or without notice. The Company acknowledges that regardless of termination, any historical
cash or accrual amounts owed to the Company shall be payable and due in accordance with the terms hereof. The Company cannot wilfully
terminate this Agreement for the express purpose of avoiding vesting of the option subject to paragraph (a) above.

 

This offer is contingent upon:

 

(a) Verification of your right to
work in the United States, as demonstrated by your completion of the I-9 form upon hire and your submission of acceptable documentation
(as noted on the I-9 form) verifying your identity and work authorization within three days of starting employment;

 

(b) Satisfactory completion of a
background investigation, for which the required notice and consent forms are attached to this letter; and

 

(c) Your execution of the Company’s
customary confidentiality and work-for-hire agreement and employee handbook;

 

This offer will be withdrawn if any
of the above conditions are not satisfied.

 

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By accepting this offer, you confirm that you
are able to accept your responsibilities and carry out the work that it would involve without breaching any legal restrictions
on your activities, such as restrictions imposed by a current or former employer or client. You also confirm that you will inform
the Company about any such restrictions and provide the Company with as much information about them as possible, including any
agreements between you and your current or former employer or client describing such restrictions on your activities. Such activities
shall be disclosed in Exhibit A to this Agreement.

 

You further confirm that you will not remove
or take any documents or proprietary data or materials of any kind, electronic or otherwise, with you from your current or former
employer or client(s) to the Company without written authorization from your current or former employer and/or client(s), nor will
you use or disclose any such confidential information during the course and scope of your employment with the Company. If you have
any questions about the ownership of particular documents or other information, discuss such questions with your former employer
and/or client(s) before removing or copying the documents or information.

 

This Offer Letter shall be governed by and
construed in accordance with the laws of the State of New York without regard to the conflict of laws principles thereof. State
and federal courts sitting in the City of New York shall have exclusive jurisdiction to hear any dispute arising under this Offer
Letter.

 

All of us at the Company are excited at the
prospect of you joining our team. If you have any questions about the above details, please call me immediately. If you wish to
accept this position, please sign below and return this letter agreement to me within 3 days. This offer is open for you to accept
until October 21, 2018, at which time it will be deemed to be withdrawn.

 

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I look forward to hearing from you.

 

Yours sincerely,

 

TO PHARMACEUTICALS LLC

 

	By:	/s/ Bernard Sucher	 	 
	Name:	Bernard Sucher	 	 
	Title:	Authorized Representative	 	 

 

Accepted:

 

	/s/ Seth Yakatan	 	 
	Seth Yakatan	 	 

 

    	 	4Exhibit 10.18

CONSULTING AGREEMENT

 

THIS AGREEMENT is made
effective as of November 1, 2018, by and among TO Pharmaceuticals LLC, a Delaware limited liability company (the “Company”
), having a place of business at 77 Water Street, 8th Floor, Suite 821, New York, New York 10005, and Broom Street Associates,
LLC, having a place of business at 902 N. Broom Street, Wilmington, DE 19806 (the “Consultant”).

 

RECITALS

 

WHEREAS, the Company
is a pharmaceutical company engaged in the business of discovering, developing and commercializing drugs for the treatment of various
diseases, disorders and medical conditions; and

 

WHEREAS, Consultant
has knowledge and experience in the research, development regulatory approval and commercialization of pharmaceutical products;
and

 

WHEREAS, the Company
desires to engage Consultant for the purpose of obtaining the assistance and advice of Mitchell Glass, MD (“Glass”)
and Consultant in connection with the development of the Company’s pharmaceutical products, including over-the-counter, including
without limitation, development strategy, clinical development plans, study designs, protocols, CMC requirements and regulatory
drug approvals.

 

NOW, THEREFORE,
in consideration of the above recitals and the mutual promises, covenants and conditions set forth below and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

AGREEMENT

 

		1.	Engagement. The Company hereby engages Consultant, and Consultant hereby accepts such engagement,
upon the terms, covenants and conditions set forth in this Agreement.

 

		2.	Services to be Performed by Consultant. Consultant hereby agrees to provide to the Company
product development services and advice for the Company’s products, as reasonably requested by the Company and agreed by
the parties hereto, including: (i) providing general consultancy on all of the Company’s product development activities,
including as it relates to both pharmaceutical and over-the-counter products, (ii) providing input and guidance in connection with
all facets of the Company’s clinical development strategy and plans regarding such products, (iii) assisting the Company
in the preparation, review and submission of development-related documents, including without limitation, as it relates to the
intellectual property of the Company, Investigational New Drug Applications, New Drug Applications or documents of a similar nature,
(iv) assisting in any fundraising discussions, and (v) providing other services as may be reasonably designated by the Company.
Consultant shall, through its principal, Dr. Mitchell Glass, provide all services under this Agreement in a diligent, effective,
trustworthy and professional manner. Dr. Glass, as a principal of the Consultant, agrees to devote significant time and effort
to perform these services for the Company and to provide periodic updates on his performance of Services to the Company and as
requested by the Company. The services described in this Section 2 and performed under this Agreement will hereinafter be referred
to collectively as the “Services.”

 

    			 

     

    

 

 

		3.	Status of Consultant. Consultant enters into this Agreement as an independent contractor
and not as an employee or agent of the Company or any affiliate thereof, and shall remain so throughout the term of this Agreement.
Consultant shall supply all materials and equipment required to perform the Services. Consultant shall be responsible for providing,
at its own expense, disability and unemployment insurance, workers’ compensation, training, permits, and licenses for Consultant
and acknowledges that it is not eligible to receive any insurance or other benefits available to employees of the Company. Consultant
shall be responsible for and shall pay all taxes due to any federal, state or local governmental authority in respect of all amounts
paid hereunder, and Consultant shall indemnify and hold harmless the Company for any failure to do so. Neither Consultant nor its
members, managers, employees or otherwise, including Glass, shall have any authority to act for, represent or bind the Company
or any affiliate thereof in any manner, except as may be expressly agreed to by the Company in writing from time to time.

 

		4.	No Partnership or Agency Relationship. This Agreement does not constitute and will not be
construed as creating an agency or constituting a partnership or joint venture between the Company and Consultant or any other
form of legal association which would impose liability upon one party for the act or failure to act of the other party. Neither
the Company nor Consultant or its employees or otherwise will have any right to obligate or bind each other in any manner whatsoever.

 

		5.	Representations, Warranties and Covenants.  Dr. Glass, a principal of the Consultant, and
the Consultant, hereby represent, warrant and covenant to the Company that (i) it has the power and authority to enter into this
Agreement and shall comply with all relevant federal, state, local and non-U.S. laws in connection with the performance of the
Services, (ii) Glass has the capacity to enter into this Agreement, and (iii) entering into this Agreement, and the obligations
and duties undertaken by Consultant and Glass hereunder, will not conflict with, constitute a breach of or otherwise violate the
terms of any other agreement to which Consultant and/or Glass is a party.

 

		6.	Company Representation.  The Company represents and warrants to the Consultant that it has
the power and authority to enter into this Agreement.

 

		7.	Compensation for Services. The Company will pay to Consultant such compensation in connection
with the Services rendered by Consultant to or for the Company during the term of this Agreement as described below in this Section
7 (the “Compensation”). In addition, Consultant will be reimbursed for all reasonable and customary direct travel and
other out-of-pocket expenses incurred in connection with the Services performed by Consultant (the “Expenses”); provided,
that any expenses in excess of $300 will be submitted to the Company in advance for approval. All Expenses will be properly documented
and billed at cost and without mark-up. The Company agrees to reimburse Consultant for Expenses within 30 days of its receipt of
properly documented requests for reimbursement.

 

		7.1	The Consultant’s Compensation will be computed based on a fee of $10,000 per month for the
performance of Services, payable in arrears at a rate of $5,000 in cash and $5,000 in equity of the Company. Consultant will invoice
the Company monthly. The equity will be deferred and calculated based on a formula to be provided by the Company.

 

		7.2	Deferred Compensation will be paid contingent upon the Company successfully closing one or more
external financing transactions with aggregate gross proceeds of not less than $3,000,000.

 

		7.3	Consultant acknowledges and agrees that (i) the Compensation set forth in this Section 7 will be
the sole compensation for the performance of Services by Consultant, and (ii) the Company will have no obligation whatsoever to
pay Consultant any other compensation or reimburse Consultant for any Expenses not expressly set forth in this Section 7.

 

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		8.	Term. This Agreement will become effective on the date first stated above (the “Effective
Date”) and, unless sooner terminated as provided herein, will continue in full force and effect for a period of six (6) months.

 

		9.	Termination. Either the Company or Consultant may terminate this Agreement upon thirty (30)
days written notice to the other party. This Agreement will terminate automatically on the occurrence of any of the following events:
bankruptcy, dissolution or insolvency of the Company or Consultant. Upon termination of the Agreement for any reason, Consultant
will use reasonable commercial efforts to transition activities to the Company and will be compensated for any reasonable unreimbursed
Expenses and for Services performed up to the date of termination of this Agreement.

 

		10.	Post-Termination Rights and Obligations. Upon termination of this Agreement for any reason,
the rights and obligations of the parties hereto will terminate, except the Company’s obligations under Section 7 (Compensation
for Services) and the parties’ respective rights and obligations under Section 11 (Intellectual Property), Section 12 (Confidential
Information) and Section 13 (Indemnification), all of which will survive termination of this Agreement.

 

		11.	Intellectual Property. Consultant acknowledges and agrees that the Company possesses, and
will continue to possess, information that has been created, discovered or developed by the Company, or has otherwise become known
to the Company, and/or in which property rights are owned, assigned to or otherwise controlled by the Company (“Background
Information”). Consultant will promptly disclose to the Company all intellectual property, including, but not limited to,
any inventions, improvements or procedural or methodological innovations, programs, methods, forms, systems, services, designs,
including any formulae, processes, techniques, know-how, data, patents or applications for patents, or trade secrets conceived,
developed, created, reduced to practice, made or learned by Consultant, its employees or otherwise, whether individually or in
conjunction with others, resulting from performance of the Services (“Intellectual Property”). Consultant agrees that
all Background Information and any and all Intellectual Property conceived, developed or created by Consultant, its employees or
otherwise, including Glass, or the Company during the term of this Agreement in connection with the Services shall be the sole
property of the Company, and that Consultant hereby assigns, and shall cause the assignment of by its employees or otherwise, all
of its or his right, title and interest to any Background Information and Intellectual Property to the Company. Consultant further
agrees that Consultant will, and shall cause any applicable employees or otherwise, including Glass, to, execute such instruments
and perform such acts as may reasonably be requested by the Company to transfer to and perfect in the Company all legally protectable
rights in such Background Information and Intellectual Property. To the extent any moral rights or other Intellectual Property
rights are not legally transferable to the Company, each of Consultant and Glass hereby waives and agrees to never assert any such
rights against the Company or any of its affiliates, even after termination of this Agreement, including
but not limited to claims for copyright or trademark infringement, infringement of moral rights within the law. 

 

		12.	Confidential Information. Consultant will, and shall cause its employees or otherwise to,
comply with the terms of the Confidentiality and Non-Use Agreement executed by the parties effective November 1, 2018, as it may
be amended (the “NDA”).

 

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		13.	Indemnification.

 

		12.1.	Indemnification by Company. The Company agrees to
and does hereby indemnify, save and hold Consultant harmless from and against any and all liability, loss, damage, claim, lawsuit,
judgment, cost, or expenses (including reasonable attorneys’ fees), resulting from, arising out of or related to any material
breach of this Agreement by the Company.

 

		12.2.	Indemnification by Consultant and Glass. Each of Consultant and Glass agrees to and does
hereby indemnify, save and hold the Company harmless from and against any and all liability, loss, damage, claim, lawsuit, judgment,
cost, or expenses (including reasonable attorneys’ fees), resulting from, arising out of or related to the performance of
the Services by Consultant or its employees otherwise, including Glass, or any material breach of this Agreement by Consultant
or its employees otherwise, including Glass, unless if caused by illegal activity by Company except if arising or derived from
or related to any violation of the Controlled Substances Act (as amended) relating to the cultivation, processing, distribution,
sale or possession of cannabis or cannabis-related products.

 

		14.	Tax Consequences. Consultant agrees to obtain the advice of independent tax counsel (or
has determined not to obtain such advice, having had adequate opportunity to do so) regarding the federal and state income tax
consequences of the receipt of payments under this Agreement. Consultant acknowledges that it has not relied and will not rely
upon any advice or representation by the Company or by its employees or representatives with respect to the tax treatment of the
payments under this Agreement.

 

		15.	Arbitration. Except as otherwise set forth herein, all claims and disputes between or among
the parties hereto relating in any way to this Agreement or its performance, interpretation, validity or breach, or to any other
rights, duties or obligations between the Company and Consultant, whether or not arising under this Agreement, will be settled
by final and binding arbitration in accordance with the then current Commercial Arbitration Rules of the American Arbitration Association.
Demand for arbitration will be made within six (6) months after the dispute in question has arisen or be forever barred. Arbitration
will be in New York, New York, before a single neutral arbitrator from the Association’s panel. Judgment on the award rendered
by the arbitrator may be entered in any court having jurisdiction. Each party will bear its own costs and attorneys’ fees
and one-half of the cost of arbitration, regardless of which party is determined to be the prevailing party. Notwithstanding the
foregoing, with respect to any obligations pursuant to Section 12 hereof, any party hereto may apply to the New York State Supreme
Court located in New York County for a provisional remedy, including but not limited to a temporary restraining order or a preliminary
injunction. The application for or enforcement of any provisional remedy by a party shall not operate as a waiver of the agreement
to submit a dispute to binding arbitration pursuant to this provision.

 

		16.	Notices. All notices, requests, demands and other communications called for by this Agreement
will be in writing and will be deemed to have been given upon delivery if delivered by hand, via email (the receipt of which is
electronically confirmed) or overnight mail express, or three (3) days after such notice is deposited in the U.S. mail, certified
mail, return receipt requested, postage prepaid:

 

If to the Company, then to Seth Yakatan,
CEO, at the address set forth above.

 

If to Consultant then to Mitchell
Glass, MD, at the address set forth above.

 

    	 	4	 

     

    

 

		17.	Assignment. Consultant may assign any of its rights or delegate any of its duties under
this Agreement without the prior written consent of the Company. Any attempted assignment or delegation without such consent is
void and without effect.

 

		18.	Waiver. The waiver by a party of a breach of any provision of this Agreement will not operate
or be construed as a waiver of any subsequent breach.

 

		19.	Amendment. This Agreement may not be modified except by written instrument signed by all
parties hereto.

 

		20.	Severability. The provisions of this Agreement are severable. The invalidity of any provision
will not affect the validity of other provisions of this Agreement.

 

		21.	Binding Effect. This Agreement will be binding upon and will inure to the benefit of the
parties hereto and their respective successors and assigns.

 

		22.	Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto
with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations
and discussions, whether oral or written, of the parties with respect thereto.

 

		23.	Governing Law. This Agreement and the rights and obligations of the parties hereunder will
be construed in accordance with, and will be governed by, the laws of the State of New York.

 

		24.	Counterparts. This Agreement may be executed in one or more counterparts, each of which
will be considered an original, but all of which together will constitute one and the same instrument.

 

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

  

	TO PHARMACEUTICALS LLC		 BROOM STREET ASSOCIATES, LLC

 

	By:	/s/ Seth Yakatan	 	By:	/s/ Mitchell Glass
	 	SETH YAKATAN	 	 	MITCHELL GLASS, MD
	 	CHIEF EXECUTIVE OFFICER	 	 	Principal
	 	 	 
	ACKNOWLEDGED AND AGREED TO

WITH RESPECT TO THE FOREGOING

 OBLIGATIONS:	 	 
	/s/ Mitchell Glass	 	 
	MITCHELL GLASS, MD	 	 
	 	 	 		 	 

 

    	 	5

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