Document:

Exhibit 4.4

 

FORM 51-102F3

MATERIAL CHANGE REPORT

 

ITEM 1. NAME AND ADDRESS OF ISSUER

 

Alexco Resource Corp. (the “Company”)

Suite 1225, 555 Burrard Street

Vancouver, BC V7X 1M9

 

ITEM 2. DATE OF MATERIAL CHANGE

 

January 18, 2022 and January 27, 2022

 

ITEM 3. NEWS RELEASE

 

News releases issued on January 18, 2022 were
disseminated through the facilities of Cision and filed on the System for Electronic Document Analysis and Retrieval (SEDAR).

 

ITEM 4. SUMMARY OF MATERIAL CHANGE

 

On January 18, 2022, the Company announced that
it had entered into an agreement with a syndicate of underwriters pursuant to which the underwriters agreed to purchase (i) 1,851,900
common shares to be issued as “flow-through shares” with respect to “Canadian exploration expenses” at a price
of $2.70 per share (the “CEE Offering Price”) and (ii) 1,287,600 common shares to be issued as “flow-through
shares” with respect to “Canadian development expenses” at a price of $2.33 per shares (the “CDE Offering Price”)
for gross proceeds of approximately $8 million on a “bought deal” basis (collectively, the “Offering”).
The Company also granted to the underwriters an option (the “Over-Allotment Option”), exercisable to purchase up to
an additional 15% of the number of shares common shares sold under the Offering at the CEE Offering Price and CDE Offering Price.

 

On January 27, 2022, the Company announced that
the Offering was completed on the terms as previously announced, with the Over-Allotment Option having been exercised in full.

 

ITEM 5.1 FULL DESCRIPTION OF MATERIAL CHANGE

 

See news release dated January 18, 2022 attached
as Schedule “A”, and the news release dated January 27, 2022 attached as Schedule “B”.

 

ITEM 5.2 DISCLOSURE FOR RESTRUCTURING TRANSACTIONS

 

Not applicable

 

ITEM 6. RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL
INSTRUMENT 51-102

 

Not applicable

 

     

     2

    

 

ITEM 7. OMITTED INFORMATION

 

There are no significant facts required to be disclosed
herein which have been omitted.

 

ITEM 8. EXECUTIVE OFFICER

 

		Contact:	Clynton R. Nauman, Executive Chairman and CEO

		 	Paul Jones, Sr. VP Corporate Development

		Phone:	(604) 889-6077

		Email:	info@alexcoresource.com

 

ITEM 9. DATE OF REPORT

 

January 28, 2022

 

     

     

    

  

Schedule “A”

 

 

 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION

IN THE UNITED STATES OR TO A U.S. PERSON

 

ALEXCO ANNOUNCES $8.0 MILLION

BOUGHT DEAL FLOW-THROUGH SHARE PUBLIC OFFERING

 

January 18, 2022 – Alexco Resource
Corp. (NYSE American: AXU) (TSX: AXU) (“Alexco” or the “Company”) is pleased to announce that it
has entered into an agreement with a syndicate of underwriters (the “Underwriters”) led by Cormark Securities Inc.
pursuant to which the Underwriters have agreed to purchase on a bought deal basis (i) 1,851,900 common shares to be issued as “flow-through
shares” with respect to “Canadian exploration expenses” (“CEE”) within the meaning of the Income
Tax Act (Canada) and the regulations thereunder in force as of the date hereof (the “Tax Act”) (the “CEE Flow-Through
Shares”) at a price of C$2.70 per CEE Flow-Through Share (the “CEE Offering Price”); and (ii) 1,287,600 common
shares to be issued as “flow-through shares” with respect to “Canadian development expenses” (“CDE”)
within the meaning of the Tax Act (the “CDE Flow-Through Shares”) at a price of C$2.33 per CDE Flow-Through Share (the
 “CDE Offering Price”) (collectively, the “Offering”). The gross proceeds of the Offering will be
approximately C$8.0 million.

The Underwriters also have an option to purchase that number of additional CEE Flow-Through Shares and CDE Flow-Through Shares as is equal
to 15% of the number of CEE Flow-Through Shares and CDE Flow-Through Shares sold pursuant to the Offering at the CEE Offering Price and
CDE Offering Price, for market stabilization purposes and to cover over-allotments for a period expiring 30 days after the date of closing.

 

The proceeds from the sale of the CEE Flow-Through
Shares will be used on exploration expenses on the Keno Hill project as permitted under the Tax Act to qualify as CEE. The proceeds from
the sale of the CDE Flow-Through Shares will be used on development expenses on the Keno Hill project as permitted under the Tax Act to
qualify as CDE. The Company will renounce all the CEE qualifying expenditures in favour of the subscribers of the CEE Flow-Through Shares
and all CDE qualifying expenditures in favour of the subscribers of the CDE Flow-Through Shares effective on or before December 31, 2022.

 

The Offering will be qualified by way of a prospectus
supplement (the “Prospectus Supplement”) to the Company’s existing base shelf prospectus in the provinces of
British Columbia, Alberta, Ontario, Saskatchewan and Manitoba. The Prospectus Supplement (together with the related Base Shelf Prospectus)
will be available on SEDAR at www.sedar.com.

 

Closing is expected on or about January 27, 2022
and is subject to Toronto Stock Exchange and other necessary regulatory approvals.

 

The securities to be offered have not been and
will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under
any securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, or delivered within the
United States or to, or for the account or benefit of, a U.S. person or person in the United States, except in certain transactions exempt
from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States. This
release does not constitute an offer to sell or a solicitation to buy such securities in the United States, Canada or in any other jurisdiction
where such offer, solicitation or sale is unlawful. “United States” and “U.S. person” are as defined in Regulation
S under the U.S. Securities Act.

 

    	Head Office	T. 604 633 4888
	 	 
	Alexco Resource Corp.	F. 604 633 4887
	555 Burrard Street, Suite 1225	 
	Vancouver, BC  V7X 1M9	1 | Page
	Canada	 

    

    

 

 

 

About Alexco

 

Alexco is a Canadian primary silver company that
owns and operates the majority of the historic Keno Hill Silver District, in Canada’s Yukon Territory, one of the highest-grade
silver deposits in the world. Alexco is currently advancing Keno Hill to commercial production and commenced concentrate production and
shipments in the first quarter of 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per
year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long
history of expanding the operation’s mineral resources through successful exploration.

 

Contact

 

Clynton R. Nauman, Chairman and Chief Executive Officer

Rajni Bala, Investor Relations and Communications Lead

Phone: (778) 945-6577

Email: info@alexcoresource.com

 

Website: www.alexcoresource.com

 

Forward-Looking Statements

 

Some statements (“forward-looking statements”)
in this news release contain forward-looking information concerning Alexco’s anticipated results and developments in Alexco’s
operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that
may occur in the future, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements
with respect to the future remediation and reclamation activities, future mineral exploration, the estimation of mineral reserves and
mineral resources, the realization of mineral reserve and mineral resource estimates, future mine construction and development activities,
future mine operation and production, the timing of activities and reports, the amount of estimated revenues and expenses, the success
of exploration activities, permitting time lines, requirements for additional capital and sources and uses of funds. Forward-looking statements
are subject to a variety of known and unknown risks, uncertainties and other factors, which could cause actual events or results to differ
from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results
and timing of exploration and development activities; actual results and timing of mining activities; actual results and timing of environmental
services activities; actual results and timing of remediation and reclamation activities; conclusions of economic evaluations; changes
in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and other commodities; possible variations
in mineable resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour
disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global
economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities.
Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making
the forward-looking statements included in this news release, Alexco has applied several material assumptions, including, but not limited
to, the assumption that Alexco will be able to raise additional capital as necessary, that the proposed exploration and development will
proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can be
no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from
those anticipated in such statements. Alexco expressly disclaims any intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

 

 

    	Head Office	T. 604 633 4888
	 	 
	Alexco Resource Corp.	F. 604 633 4887
	555 Burrard Street, Suite 1225	 
	Vancouver, BC  V7X 1M9	2 | Page
	Canada	 

    

    

 

Schedule “B”

 

 

 

ALEXCO CLOSES $9.2 MILLION FLOW-THROUGH
EQUITY FINANCING 

 

(All amounts expressed in Canadian
Dollars unless otherwise indicated)

 

Vancouver, January 27, 2022 – Alexco
Resource Corp. (NYSE American/TSX: AXU) (“Alexco” or the “Company”) announces that it has closed
the previously announced flow-through bought deal public offering (the “Offering”) with a syndicate of underwriters
led by Cormark Securities Inc. and including Canaccord Genuity Corp., A.G.P./Alliance Global Partners and Roth Canada, ULC (collectively
the “Underwriters”). With full exercise of the Underwriters’ over-allotment option, the Company has issued a
total of 3,610,425 “flow-through” common shares (the “Flow-Through Shares”) for gross proceeds of C$9,200,273.70.

 

The Flow-Through Shares are comprised of (i) 2,129,685
shares issued as “flow-through shares” (the “CEE Shares”) with respect to “Canadian exploration expenses”
(“CEE”) within the meaning of the Income Tax Act (Canada) (the “Tax Act”) at a price of C$2.70
per CEE Share; and (ii) 1,480,740 shares issued as “flow through shares” (the “CDE Shares”) with respect
to “Canadian development expenses” (“CDE”) at a price of C$2.33 per CDE Share.

 

The gross proceeds from the sale of the CEE Shares
will be used on exploration expenses on the Keno Hill project as permitted under the Tax Act to qualify as CEE. The gross proceeds from
the sale of the CDE Shares will be used on development expenses on the Keno Hill project as permitted under the Tax Act to qualify as
CDE. The Company will renounce all the CEE and CDE in favour of the subscribers of the CEE Shares and CDE Shares, respectively, effective
on or before December 31, 2022, all as further described in the Prospectus (as defined below) as filed on the Company’s profile
on www.sedar.com.

 

The Offering was completed pursuant to a prospectus
supplement dated January 20, 2022 to the short form base shelf prospectus of the Company dated November 2, 2020 (collectively, the “Prospectus”)
in the provinces of British Columbia, Ontario, Alberta, Saskatchewan, and Manitoba.

 

The securities offered have not been
and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”),
or under any securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, or delivered within
the United States or to, or for the account or benefit of, a U.S. person or person in the United States, except in certain transactions
exempt from the registration requirements of the U.S. Securities Act and any applicable securities laws of any state of the United States.
This release does not constitute an offer to sell or a solicitation to buy such securities in the United States, Canada or in any other
jurisdiction where such offer, solicitation or sale is unlawful. “United States” and “U.S. person” are as defined
in Regulation S under the U.S. Securities Act.

 

    	Head Office	T. 604 633 4888
	 	 
	Alexco Resource Corp.	F. 604 633 4887
	555 Burrard Street, Suite 1225	 
	Vancouver, BC  V7X 1M9	 
	Canada	 

    

    

 

 

 

About Alexco

 

Alexco is a Canadian primary silver company that
owns and operates the majority of the historic Keno Hill Silver District, in Canada’s Yukon Territory, one of the highest-grade
silver deposits in the world. Alexco is currently advancing Keno Hill to commercial production and commenced concentrate production and
shipments in the first quarter of 2021. Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per
year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long
history of expanding the operation’s mineral resources through successful exploration.

 

Contact

 

Clynton R. Nauman, Chairman and Chief Executive
Officer

Rajni Bala, Investor Relations and Communications Lead

Phone: (778) 945-6577

Email: info@alexcoresource.com

 

Certain statements (“forward-looking
statements”) in this news release contain forward-looking information concerning plans related to Alexco’s business and
other matters that may occur in the future, made as of the date of this news release including the intended use of proceeds from the sale
of the Flow-Through Shares and the tax treatment of the Flow-Through Shares. Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied
by the forward-looking statements. Such factors include, among others, risks related to legislative and/or regulatory changes; risks and
uncertainties relating to the COVID-19 pandemic including but not limited to business closures, travel restrictions, quarantines and a
general reduction in consumer activity; actual results and timing of exploration and development, mining, environmental services and remediation
and reclamation activities; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineral resources,
grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks
of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions;
competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking
statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking
statements included in this news release, Alexco has applied several material assumptions, including, but not limited to, the assumptions
that circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the extent to which
COVID-19 may impact the Company, including without limitation disruptions to the mobility of Company personnel, costs associated with
implementation of health and safety protocols, increased labour and transportation costs, and other related impacts, will not change in
a materially adverse manner; that Alexco will be able to raise additional capital as necessary, that the proposed exploration and development
activities will proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Alexco expressly disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

 

    Page 2 of 2Exhibit
10.1

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT
(the “Agreement”) is entered into as of March 23, 2022 (the “Effective Date”), by and between Bluejay
Diagnostic, Inc., a Delaware corporation (the “Company”) having its principal place of business at 360 Massachusetts
Ave, Acton, MA 01720, and Kenneth R. Fisher (“Executive”, and the Company and the Executive collectively referred to
herein as the “Parties”).

WITNESSETH:

WHEREAS, the Executive has agreed
to serve as the Company’s Chief Financial Officer and the Company would like to retain Executive as its Chief Financial Officer,
and the Parties desire to enter into this Agreement embodying the terms of such employment; and

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants and promises of the Parties contained herein, the Parties, intending to be legally bound, hereby
agree as follows:

1.                  
Title and Job Duties.

(a)               
Subject to the terms and conditions set forth in this Agreement, commencing on the Effective Date, the Company agrees to employ
Executive as Chief Financial Officer. Executive shall report directly to the Company’s Chief Executive Officer.

(b)               
Executive accepts such employment and agrees, during the term of his employment, to devote his full business and professional time
and energy to the Company, and agrees faithfully to perform his duties and responsibilities in an efficient, trustworthy and business-like
manner. Executive also agrees that the Company’s Chief Executive Officer shall determine from time to time such other duties as
may be assigned to him. Executive agrees to carry out and abide by such directions of the Company’s Chief Executive Officer.

(c)               
Without limiting the generality of the foregoing, Executive shall not, without the written approval of the Company, render services
of a business or commercial nature on his own behalf or on behalf of any other person, firm, or corporation, whether for compensation
or otherwise, during his employment hereunder. The foregoing limitation shall not apply to Executive’s involvement in associations,
charities and service on another entity’s board of directors, provided such involvement does not interfere with Executives responsibilities
(and as it pertains to any service on another entity’s board of directors, provided such action is pre-approved by the Company).

2.                  
Salary and Additional Compensation.

(a)               
Base Salary. During the Term, the Company shall pay to Executive an annual base salary (“Base Salary”),
which shall initially be $275,000. The Board of Directors (the “Board”) shall review the Executive’s Base Salary
no less than annually (at the end of the Company’s compensation year, which shall be its fiscal year) and may increase (but not
decrease) such Base Salary during the term of this Agreement. The Base Salary shall increase to 300,000 on January 1, 2023.

(b)               
Annual Bonus. For each compensation year during the Term, Executive will be entitled to receive an annual bonus (the “Annual
Bonus”), within ninety (90) days of the completion of such year. The final determination of the amount, if any, of the Annual
Bonus will be made by, and in the sole discretion of, the Compensation Committee of the Board (or the Board, if such committee has been
dissolved), based on goals and objectives previously approved by the Compensation Committee of the Board (or the Board, if such committee
has been dissolved). The target Annual Bonus is 40% of Base Salary (pro rated for partial years). The Annual Bonus shall be payable in
a combination of cash and options to purchase Company common stock, as determined in the sole discretion of the Compensation Committee
of the Board (or the Board, if such committee has been dissolved). Any options issued hereunder shall in all respects be subject to the
terms and conditions of the Company’s 2021 Equity Plan (the “Plan”), and the value attributable to any options
shall be determined in the sole discretion of the Compensation Committee of the Board (or the Board, if such committee has been dissolved).

    -1-

     

    

(c)               
Option Grant. On the Effective Date, Executive will be granted a stock option to purchase 65,000 shares of Company common
stock at an exercise price equal to the Company’s closing price on the NASDAQ on the date of the grant (the “Option Grant”).
The Option Grant shall have a term of ten years and shall vest as follows: 5,000 shares will be fully-vested on the date of grant and
60,000 shares will vest in three equal annual installments on the anniversary dates of the grant; provided Executive remains continuously
employed by Company on and does not resign prior to each such vesting date. The Option Grant shall in all respects be subject to the terms
and conditions of the Plan.

3.                  
Expenses. In accordance with Company policy, the Company shall reimburse Executive for all reasonable association fees,
professional related expenses (certifications, licenses and continuing professional education) and business expenses properly and necessarily
incurred and paid by Executive in the performance of his duties under this Agreement, upon his presentment of detailed receipts in the
form required by the Company’s policy. Notwithstanding the foregoing, all expenses must be promptly submitted for reimbursement
by Executive. In no event shall any reimbursement be paid by the Company after the end of the year following the year in which the expense
is incurred by Executive.

4.                  
Benefits.

(a)               
Vacation. Executive shall be entitled to three weeks per year of vacation, sick and personal time and to utilize such vacation
as the Executive shall determine; provided however, that Executive shall evidence reasonable judgment with regard to appropriate vacation
scheduling.

(b)               
Health Insurance and Other Plans. Executive shall be eligible to participate in the Company’s medical, dental and
other employee benefit programs, if any, that are provided by the Company for its employees at Executive’s level in accordance with
the provisions of any such plans, as the same may be in effect from time to time.

5.                  
Term. The term of employment under this Agreement (the “Term”) shall commence on the Effective Date and
shall continue until terminated by the Company or Executive in accordance with the terms and conditions set forth herein.

6.                  
Termination.

(a)               
Termination at the Company’s Election.

(i)                
For Cause. At the election of the Company, Executive’s employment may be terminated at any time for Cause (as defined
below) upon written notice to Executive given pursuant to Section 12 of this Agreement. For purposes of this Agreement, “Cause”
for termination shall mean that Executive: (A) pleads “guilty” or “no contest” to, or is convicted of an act which
is defined as a felony under federal or state law, or is indicted or formally charged with acts involving criminal fraud or embezzlement;
(B) in carrying out his duties, engages in conduct that constitutes gross negligence or willful misconduct; (C) engages in substantiated
fraud, misappropriation or embezzlement against the Company; (D) engages in any inappropriate or improper conduct that causes material
harm to the reputation of the Company; or (E) materially breaches any term of this Agreement. With respect to subsection (E) of this section,
to the extent such material breach may be cured, the Company shall provide Executive with written notice of the material breach and Executive
shall have twenty (20) days to cure such breach.

(ii)              
Upon Disability or Without Cause; Death. At the election of the Company, Executive’s employment may be terminated:
(A) should Executive have a physical or mental impairment that substantially limits a major life activity and Executive is unable to perform
the essential functions of his job with or without reasonable accommodation (“Disability”); or (B) at any time without
Cause. Executive’s employment with the Company will end upon Executive’s death.

(b)               
Termination at Executive’s Election. Notwithstanding anything contained elsewhere in this Agreement to the contrary,
Executive may terminate his employment hereunder at any time and for any reason, upon thirty (30) days’ prior written notice given
pursuant to Section 12 of this Agreement (“Voluntary Resignation”), provided that upon notice of resignation, the Company
may terminate Executive’s employment immediately.

(c)               
Termination in General. If Executive’s employment with the Company terminates for any reason, the Company will pay
or provide to Executive: (i) any unpaid Base Salary through the date of employment termination, (ii) any unpaid Annual Bonus for the fiscal
year prior to the fiscal year in which the termination occurs (payable at the time the bonuses are paid to employees generally), (iii)
any accrued but unused vacation or paid time off in accordance with the Company’s policy, (iv) reimbursement for any unreimbursed
business expenses incurred through the termination date, to the extent reimbursable in accordance with Section 3, and (v) all other payments
or benefits (if any) to which Executive is entitled under the terms of any benefit plan or arrangement.

    -2-

     

    

7.                  
Severance.

(a)               
Subject to Section 7(b) below, if Executive’s employment is terminated prior to the end of the Term by the Company without
Cause (other than due to death or Disability), Executive shall be entitled to receive a cash severance payment equal to six months of
Executive’s Base Salary at the time of termination; and (ii) a pro rata portion of the target Annual Bonus for the year in which
such termination occurs. Such severance payment shall be made over the six month period in accordance with the Company’s normal
payroll policy, provided that prior to the initial payment, the Executive has executed and delivered to the Company, and has not revoked
a general release of the Company, its parents, subsidiaries and affiliates and each of its officers, directors, employees, agents, successors
and assigns, and such other persons and/or entities as the Company may determine, in a form reasonably acceptable to the Company. Such
general release shall be delivered on or about the date of termination and must be executed within 21 days of termination.

(b)               
Notwithstanding the foregoing, (i) any payment(s) of “nonqualified deferred compensation” (within the meaning of Section
409A of the Code and the regulations and official guidance issued thereunder (“Section 409A”)) that is/are required to be
made to Executive hereunder as a “specified employee” (as defined under Section 409A) as a result of such employee’s
“separation from service” (within the meaning of Section 409A) shall be delayed for the first six (6) months following such
separation from service (or, if earlier, the date of death of the specified employee) and shall instead be paid upon expiration of such
six (6) month delay period; and (ii) for purposes of any such payment that is subject to Section 409A, if the Executive’s termination
of employment triggers the payment of “nonqualified deferred compensation” hereunder, then the Executive will not be deemed
to have terminated employment until the Executive incurs a “separation from service” within the meaning of Section 409A.

8.                  
Confidentiality Agreement.

(a)               
Executive understands that during his employment he will have access to unpublished and otherwise confidential information both
of a technical and non-technical nature, relating to the business of the Company and any of its parents, subsidiaries, divisions, affiliates
(collectively, “Affiliated Entities”), or clients, including without limitation any of their actual or anticipated
business, research or development, any of their technology or the implementation or exploitation thereof, including without limitation
information Executive and others have collected, obtained or created, information pertaining to patent formulations, vendors, prices,
costs, materials, processes, codes, material results, technology, system designs, system specifications, materials of construction, trade
secrets and equipment designs, including information disclosed to the Company by others under agreements to hold such information confidential
(collectively, the “Confidential Information”). Executive agrees to observe all Company policies and procedures concerning
such Confidential Information. Executive further agrees not to disclose or use, either during his employment or at any time thereafter,
any Confidential Information for any purpose, including without limitation any competitive purpose, unless authorized to do so by the
Company in writing, except that he may disclose and use such information when necessary in the performance of his duties for the Company.
Executive’s obligations under this Agreement will continue with respect to Confidential Information, whether or not his employment
is terminated, until such information becomes generally available from public sources through no action of Executive. Notwithstanding
the foregoing, however, Executive shall be permitted to disclose Confidential Information as may be required by a subpoena or other governmental
order, provided that he first notifies promptly the Company of such subpoena, order or other requirement and allows the Company the opportunity
to obtain a protective order or other appropriate remedy. Nothing herein shall prohibit Employee from (i) reporting a suspected violation
of law to any governmental or regulatory agency and cooperating with such agency, or from receiving a monetary recovery for information
provided to such agency, (ii) testifying truthfully under oath pursuant to subpoena or other legal process or (iii) making disclosures
that are otherwise protected under applicable law or regulation.

(b)               
During Executive’s employment, upon the Company’s request, or upon the termination of his employment for any reason,
Executive will promptly deliver to the Company all documents, records, files, notebooks, manuals, letters, notes, reports, customer and
supplier lists, cost and profit data, e-mail, apparatus, computers, cell phones, tablets, hardware, software, drawings, and any other
material of the Company or any of its Affiliated Entities or clients, including all materials pertaining to Confidential Information developed
by Executive or others, and all copies of such materials, whether of a technical, business or fiscal nature, whether on the hard drive
of a laptop or desktop computer, in hard copy, disk or any other format, which are in Executive’s possession, custody or control.

(c)               
Executive will promptly disclose to the Company any idea, invention, discovery or improvement, whether patentable or not (“Creations”),
conceived or made by him alone or with others at any time during his employment. Executive agrees that the Company owns all such Creations,
conceived or made by Executive alone or with others at any time during his employment, and Executive hereby assigns and agrees to assign
to the Company all rights he has or may acquire therein and agrees to execute any and all applications, assignments and other instruments
relating thereto which the Company deems necessary or desirable. These obligations shall continue beyond the termination of his employment
with respect to Creations and derivatives of such Creations conceived or made during his employment with the Company. Executive understands
that the obligation to assign Creations to the Company shall not apply to any Creation which is developed entirely on his own time without
using any of the Company’s equipment, supplies, facilities, and/or Confidential Information unless such Creation (a) relates
in any way to the business or to the current or anticipated research or development of the Company or any of its Affiliated Entities;
or (b) results in any way from his work at the Company.

    -3-

     

    

(d)               
Executive will not assert any rights to any invention, discovery, idea or improvement relating to the business of the Company or
any of its Affiliated Entities or to his duties hereunder as having been made or acquired by Executive prior to his work for the Company.

(e)               
Executive agrees to cooperate fully with the Company, both during and after his employment with the Company, with respect to the
procurement, maintenance and enforcement of copyrights, patents, trademarks and other intellectual property rights (both in the United
States and foreign countries) relating to such Creations. Executive shall sign all papers, including, without limitation, copyright applications,
patent applications, declarations, oaths, formal assignments, assignments of priority rights and powers of attorney, which the Company
may deem necessary or desirable in order to protect its rights and interests in any Creations. Executive further agrees that if the Company
is unable, after reasonable effort, to secure Executive’s signature on any such papers, any officer of the Company shall be entitled
to execute such papers as his agent and attorney-in-fact and Executive hereby irrevocably designates and appoints each officer of the
Company as his agent and attorney-in-fact to execute any such papers on his behalf and to take any and all actions as the Company may
deem necessary or desirable in order to protect its rights and interests in any Creations, under the conditions described in this paragraph.

9.                  
Non-solicitation. Executive agrees that, during the Term and until six (6) months after the termination of his employment,
Executive will not, directly or indirectly, including on behalf of any person, firm or other entity, employ or actively solicit for employment
any employee of the Company or any of its Affiliated Entities, or anyone who was an employee of the Company or any of its Affiliated Entities
within the one-year period prior to the termination of Executive’s employment, or induce any such employee to terminate his or her
employment with the Company or any of its Affiliated Entities.

10.              
Representation and Warranty. The Executive hereby acknowledges and represents that he has had the opportunity to consult
with legal counsel regarding his rights and obligations under this Agreement and that he fully understands the terms and conditions contained
herein. Executive represents and warrants that Executive has provided the Company a true and correct copy of any agreements that purport:
(a) to limit Executive’s right to be employed by the Company; (b) to prohibit Executive from engaging in any activities on behalf
of the Company; or (c) to restrict Executive’s right to use or disclose any information while employed by the Company. Executive
further represents and warrants that Executive will not use on the Company’s behalf any information, materials, data or documents
belonging to a third party that are not generally available to the public, unless Executive has obtained written authorization to do so
from the third party and provided such authorization to the Company. In the course of Executive’s employment with the Company, Executive
is not to breach any obligation of confidentiality that Executive has with third parties, and Executive agrees to fulfill all such obligations
during Executive’s employment with the Company. Executive further agrees not to disclose to the Company or use while working for
the Company any trade secrets belonging to a third party.

11.              
Injunctive Relief. Without limiting the remedies available to the Company, Executive acknowledges that a breach of any of
the covenants contained in Section 8 above may result in material irreparable injury to the Company for which there is no adequate remedy
at law, that it will not be possible to measure precisely damages for such injuries and that, in the event of such a breach or threat
thereof, the Company shall be entitled, without the requirement to post bond or other security, to seek a temporary restraining order
and/or injunction restraining Executive from engaging in activities prohibited by this Agreement or such other relief as may be required
to specifically enforce any of the covenants in Section 8 of this Agreement.

    -4-

     

    

12.              
Notice. Any notice or other communication required or permitted to be given to the Parties shall be deemed to have been
given if either personally delivered, or if sent for next-day delivery by nationally recognized overnight courier, and addressed as follows:

If to Executive, to:

Kenneth R. Fisher

*

*

*

 

If to the Company, to:

Bluejay Diagnostic, Inc.,

360 Massachusetts Ave

Acton, MA 01720

Attention: CEO

13.              
Severability. If any provision of this Agreement is declared void or unenforceable by a court of competent jurisdiction,
all other provisions shall nonetheless remain in full force and effect.

14.              
Withholding.  The Company may withhold from any payment that it is required to make under this Agreement amounts sufficient
to satisfy applicable withholding requirements under any federal, state or local law.

15.              
Indemnification. The Company agrees that Executive will be covered by any “directors and officers” insurance
policies then in effect with respect to Executive’s acts as an officer and/or director of the Company.

16.              
Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the Commonwealth
of Massachusetts, without regard to the conflict of laws provisions thereof. Any action, suit or other legal proceeding that is commenced
to resolve any matter arising under or relating to any provision of this Agreement shall be submitted to the exclusive jurisdiction of
any state or federal court in Middlesex County, Massachusetts.

17.              
Waiver. The waiver by either Party of a breach of any provision of this Agreement shall not be or be construed as a waiver
of any subsequent breach. The failure of a Party to insist upon strict adherence to any provision of this Agreement on one or more occasions
shall not be considered a waiver or deprive that Party of the right thereafter to insist upon strict adherence to that provision or any
other provision of this Agreement. Any such waiver must be in writing, signed by the Party against whom such waiver is to be enforced.

18.              
Assignment. This Agreement is a personal contract and Executive may not sell, transfer, assign, pledge or hypothecate his
rights, interests and obligations hereunder. Except as otherwise herein expressly provided, this Agreement shall be binding upon and shall
inure to the benefit of Executive and his personal representatives and shall inure to the benefit of and be binding upon the Company and
its successors and assigns, including without limitation, any corporation or other entity into which the Company is merged or which acquires
all or substantially all of the assets of the Company.

19.              
Entire Agreement. This Agreement embodies all of the representations, warranties, covenants, understandings and agreements
between the Parties relating to Executive’s employment with the Company. No other representations, warranties, covenants, understandings,
or agreements exist between the Parties relating to Executive’s employment. This Agreement shall supersede all prior agreements,
written or oral, relating to Executive’s employment. This Agreement may not be amended or modified except by a writing signed by
the Parties.

[Signature page follows]

    -5-

     

    

 

IN WITNESS WHEREOF, the
Parties have caused this Agreement to be duly executed and delivered on the date first written above.

 

	 	Bluejay Diagnostic, Inc. 
	 	 
	 	 
	 	 
	 	By:	/s/ Neil Dey
	 	
    Name: Neil Dey

    Title: Chief Executive Officer

	
     

     

    Agreed to and Accepted:
	 
	Kenneth Fisher	 
	/s/ Kenneth
    Fisher	 
	 	 
	 	 
	Date: March 23, 2022	 

 

 

    -6-

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