Document:

Exhibit 10.2

 

REDEMPTION AGREEMENT

 

THIS REDEMPTION AGREEMENT (the
"Agreement") is made and entered into effective February 28, 2020, by and among Ozop Surgical Corp., a Nevada corporation
("OZSC"), and Michael Chermak, an individual (the "Shareholder").

 

RECITALS:

 

A. The Shareholder owns
50,000 shares of Series C preferred stock of OZSC (the "OZSC Preferred Shares"). The Amended and Restated Certificate
of Designation of the OZSC Preferred Shares are attached as Exhibit A.

 

B. OZSC desires to redeem,
and Shareholder desires to sell, all of the Shareholder’s OZSC Preferred Shares for an amount equal to one hundred thousand
dollars ($100,000) (the “Purchase Price”).

 

C. The Shareholder desires
to consummate the Purchase Transaction upon the terms and conditions set forth herein.

 

D. It is the intention of
the parties hereto that: (i) OZSC shall acquire the OZSC Preferred Shares solely for the consideration set forth below (the "Redemption");
and (ii) the Exchange shall qualify as a transaction exempt from registration or qualification under the Securities Act of 1933,
as amended (the "Securities Act").

 

E. OZSC and the Shareholder
both acknowledge that the OZSC Preferred Shares shareholder lists are maintained by
the Company, as the Transfer Agent has only been engaged to handle the Company's common stock and it doesn't handle the Company's
preferred shares.

 

 NOW, THEREFORE,
in consideration of the mutual covenants, agreements, representations and warranties contained in this Agreement, the parties hereto
agree as follows:

 

 

SECTION 1. REDEMPTION OF SHARES, PAYMENT
OF SHARES AND OTHER TRANSACTIONS

 

1.1 Redemption of
2,500 Shares. The Shareholder shall tender 2,500 of the OZSC Preferred Shares to OZSC and OZSC shall pay $50,000.00 (“First
Payment”). Shareholder has directed, and OZSC agrees to such direction on the terms and conditions below, that OZSC shall
pay the First Payment pursuant to the attached Exhibit B.

 

1.2 Delivery of
2,500 OZSC Preferred Shares. Upon receipt of the First Payment by the Shareholder, OZSC will record the return of the 2,500
shares on the Company maintained preferred shareholders list.

 

1.3 Redemption of 47,500
Shares. The Shareholder shall tender 47,500 of the OZSC Preferred Shares to OZSC and OZSC shall pay $50,000.00 (“Second
Payment”). Shareholder has directed, and OZSC agrees to such direction on the terms and conditions below, that OZSC shall
pay the Second Payment pursuant to the attached Exhibit B. The Second Payment is due sixty (60) days after the First Payment. There
are not any conditions whereby OZSC is not responsible for the Second Payment and OZSC has no rights of offset to the applied to
the Second Payment.

 

1.4 Delivery of 47,500
OZSC Preferred Shares. Upon receipt of the Second Payment by the Shareholder, OZSC will record the return of the 2,500 shares
on the Company maintained preferred shareholders list.

 

1.5 Release of
OZSC Following Payment of Purchase Price. Shareholder agrees that upon receipt of the Purchase Price, Shareholder hereby forever
releases, discharges, and forever extinguishes any right to payment for the OZSC Preferred Shares.

 

1.6 Indemnification
and Hold Harmless. Shareholder shall fully indemnify, hold harmless and defend (collectively “indemnify” and “indemnification”)
OZSC and its directors, officers, employees, agents, stockholders and Affiliates (collectively, “Indemnified Parties”)
from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses
(including but not limited to reasonable attorney’s fees and costs), whether or not involving a third party claim, which
arise out of or relate to (1) any breach of any representation or warranty of Shareholder contained in this Agreement, and (2)
any breach or violation of any covenant or other obligation or duty of Shareholder under this Agreement or under applicable law.

 

1.7 Covenant Not
to Sue. In addition to the release, indemnification, and OZSC Preferred Shares transferred as valuable consideration for the
Purchase Price, Shareholder hereby covenants and agrees never, individually or with any other person or in any way, voluntarily
to commence, aid in any way, prosecute or cause to be commenced or prosecuted against OZSC or Releasees, or any of them, any action
or proceeding based upon any claim which is released by this Agreement.

 

 

SECTION 2. INTENTIONALLY
BLANK

 

 

SECTION 3. REPRESENTATIONS AND WARRANTIES
OF THE SHAREHOLDER

 

 The Shareholder represents
and warrants to OZSC as follows:

 

3.1 Information
on Shareholder. Shareholder is an "accredited investor," as such term is defined in Regulation D promulgated under
the Securities Act, and is experienced in investments and business matters, has made investments of a speculative nature and has
such knowledge and experience in financial, tax and other business matters as to enable him to evaluate the merits and risks of,
and to make an informed investment decision with respect to, this Agreement.

 

3.2 Ownership of
OZSC Preferred Shares and Authorization of Agreement. Shareholder is the sole record and beneficial owner of his OZSC Preferred
Shares, all of which shares are owned free and clear of all rights, claims, liens and encumbrances, and have not been sold, pledged,
assigned or otherwise transferred except pursuant to this Agreement. There are no outstanding subscriptions, rights, options, warrants
or other agreements obligating Shareholder to sell or transfer to any third person any of the OZSC Preferred Shares owned by Shareholder,
or any interest therein. Shareholder has the power to enter into this Agreement and to carry out his obligations hereunder. This
Agreement has been duly executed by Shareholder and constitutes the valid and binding obligation of Shareholder, enforceable against
Shareholder in accordance with its terms.

  

 

SECTION 4. COVENANTS

 

4.1. Examinations
and Investigations. Prior to the Closing, the parties acknowledge that they have been entitled, through their employees and
representatives, to make such investigation and verification of the assets, properties, business and operations, books, records
and financial condition of the other, including communications with suppliers, vendors and customers, as they each may reasonably
require.

 

4.2. Expenses.
Each party hereto agrees to pay its own costs and expenses incurred in negotiating this Agreement and consummating the transactions
described herein.

 

4.3. Further Assurances.
The parties shall execute such documents and other papers and take such further action as may be reasonably required or desirable
to carry out the provisions hereof and the transactions contemplated hereby. Each such party shall use its best efforts to fulfill
or obtain in the fulfillment of the conditions to the Closing, including, without limitation, the execution and delivery of any
documents or other papers, the execution and delivery of which are necessary or appropriate to the Closing.

 

4.4 Stock Certificates
and Consideration. At the Closing, the Shareholder shall have delivered the certificates representing the OZSC Preferred Shares
duly endorsed (or with executed stock powers) so as to make OZSC the sole owner thereof.

 

 

SECTION 5. THE CLOSING

 

 The closing (the
"Closing") shall take place at such other time and place as is mutually agreed upon by OZSC and the Shareholder (the
“Closing Date”). At the Closing, the parties shall provide each other with such documents as may be necessary or appropriate
and customary in transactions of this sort in order to consummate the transactions contemplated hereby, including evidence of due
authorization of the Agreement and the transactions contemplated hereby.

 

 

SECTION 6. SURVIVAL OF REPRESENTATIONS
AND WARRANTIES OF THE SHAREHOLDER

 

 OZSC shall have the
right to rely fully upon the representations, warranties, covenants and agreements of the Shareholder contained in this Agreement
or in any document delivered to OZSC or any of its representatives, in connection with the transactions contemplated by this Agreement.
All such representations, warranties, covenants and agreements shall survive the execution and delivery hereof and the Closing
hereunder for 12 months following the Closing.

 

 

SECTION 7. MISCELLANEOUS

 

7.1 Waivers.
The waiver of a breach of this Agreement or the failure of any party hereto to exercise any right under this Agreement shall in
no event constitute a waiver as to any future breach whether similar or dissimilar in nature or as to the exercise of any further
right under this Agreement.

 

7.2 Amendment.
This Agreement may be amended or modified only by an instrument of equal formality signed by the parties or the duly authorized
representatives of the respective parties.

 

7.3 Assignment.
This Agreement is not assignable except by operation of law. 

 

7.4 Notices. 
Until otherwise specified in writing, the mailing addresses of both parties of this Agreement shall be as follows:

 

	To: 	
        Ozop Surgical Corp.

        319 Clematis Street, Ste. 714

        West Palm Beach, FL 33401

        Attention: Barry Hollander, CFO

 

	To:	
         

        Michael Chermak

        Po Box 1241

        Ramona, CA 92065

 

 

Any notice or statement given under this Agreement
shall be deemed to have been given if sent by registered mail addressed to the other party at the address indicated above or at
such other address as may be furnished in writing to the addressor.

 

7.5 Governing Law;
Venue. This Agreement shall be governed and construed in accordance with the laws of the State of California, without regard
to the conflicts of law provisions thereof. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in the County of San Diego, State of California, for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address for such notices to it under this agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law. If any provision of this agreement shall be invalid
or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the
remainder of this agreement in that jurisdiction or the validity or enforceability of any provision of this agreement in any other
jurisdiction. EACH PARTY HERETO IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY.

 

7.6 Publicity.
No publicity release or announcement concerning this Agreement or the transactions contemplated hereby shall be issued by either
party hereto at any time from the signing hereof without advance approval in writing of the form and substance thereof by the other
party.

 

7.7 Entire Agreement.
This Agreement and the collateral agreements executed in connection with the consummation of the transactions contemplated herein
contain the entire agreement among the parties with respect to the Exchange and related transactions, and supersede all prior agreements,
written or oral, with respect thereto.

 

7.8 Headings.
The headings in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of
this Agreement.

 

7.9 Severability
of Provisions. The invalidity or unenforceability of any term, phrase, clause, paragraph, restriction, covenant, agreement
or other provision of this Agreement shall in no way affect the validity or enforcement of any other provision or any part thereof.

 

7.10 Counterparts.
This Agreement may be executed in any number of counterparts, each of which, when so executed, shall constitute an original copy
hereof, but all of which together shall consider but one and the same document.

 

7.11 No Drafting
Party. Each party has participated in negotiating and drafting this agreement such that if an ambiguity or a question of intent
or interpretation arises, this agreement is to be construed as if the parties had drafted this document jointly. The Rule of Interpreting
the Document against the Drafter is inapplicable to this agreement.

 

7.12 Attorneys’
Fees. In the event that any Party institutes any action or suit to enforce this Agreement or to secure relief from any
default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable
attorneys’ fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement on the date first above written.

 

OZOP SURGICAL CORP.

 

By: /s/ Barry Hollander                               

Name: Barry Hollander

Title: CFO

 

SHAREHOLDER:

 

By: /s/ Michael Chermak                             

Name: Michael ChermakExhibit 10.3

 

 

Employment
Agreement

 

 

This Employment Agreement
(this "Agreement") is made effective as of February 28, 2020, by and between Ozop surgical Corp. ("OZSC"),
of 319 Clematis Street, Suite 714, West Palm Beach FL 33401 and Brian P Conway ("Mr. Conway"), of 31 Sandfort Lane, Warwick,
New York, 10990.

 

Therefore, the parties
agree as follows:

 

EMPLOYMENT.
OZSC shall employ Mr. Conway as the Chief Executive Officer (the “CEO”). Mr. Conway shall provide to OZSC the following
services: duties as needed. Mr. Conway accepts and agrees to such employment, and agrees to be subject to the general supervision,
advice and direction of OZSC and OZSC's Board of Directors. Mr. Conway shall also perform (i) such other duties as are customarily
required to direct and manage all of the day-to-day operations of Mr. Conway, and (ii) such other and unrelated services and duties
as may be assigned to OZSC from time to time by OZSC.

 

BEST
EFFORTS OF EMPLOYEE. Mr. Conway agrees to perform faithfully, industriously, and to the best of Mr. Conway's ability, experience,
and talents, all of the duties that may be required by the express and implicit terms of this Agreement, to the reasonable satisfaction
of OZSC. Such duties shall be provided at such place(s) as the needs, business, or opportunities of OZSC may require from time
to time. Mr. Conway shall devote his full business time to the rendition of such Services, subject to absences for customary vacations
and for temporary illness. In addition, Brian P Conway will not engage in any other gainful occupation which requires Brian P Conway's
personal attention and/or creates a conflict of interest with job responsibilities under this Agreement without the prior approval
of the Board, with the exception that Brian P Conway may personally trade in stock, bonds, securities, commodities or real estate
investments for his own benefit.

 

COMPENSATION
OF EMPLOYEE. As compensation for the services provided by Mr. Conway under this Agreement, OZSC will pay Mr. Conway an annual
salary of $120,000.00 payable monthly on the fifteenth day of each month and two thousand five hundred series C preferred shares
of OZSC within 10 business days from the execution of this agreement. As well, so long as Mr. Conway is still employed by OZSC
in the capacity of CEO 6 months from the signing of this agreement, Mr. Conway shall receive one thousand three hundred and thirty
three series D preferred shares of OZSC to be created by OZSC and five hundred series E preferred shares of OZSC to be created
by OZSC. Mr. Conway Upon termination of this Agreement, payments under this paragraph shall cease; provided, however, that Mr.
Conway shall be entitled to payments for periods or partial periods that occurred prior to the date of termination and for which
Mr. Conway has not yet been paid, and for any commission earned in accordance with OZSC's customary procedures, if applicable.
Accrued vacation will be paid in accordance with state law and OZSC's customary procedures. This section of the Agreement is included
only for accounting and payroll purposes and should not be construed as establishing a minimum or definite term of employment.

 

EXPENSE
REIMBURSEMENT. OZSC will reimburse Mr. Conway for "out-of-pocket" expenses incurred by Mr. Conway in accordance with
OZSC's policies in effect from time to time.

 

RECOMMENDATIONS
FOR IMPROVING OPERATIONS. Mr. Conway shall provide OZSC with all information, suggestions, and recommendations regarding OZSC's
business, of which Mr. Conway has knowledge, that will be of benefit to OZSC.

 

CONFIDENTIALITY.
Mr. Conway recognizes that OZSC has and will have information regarding the following:

-           
inventions 

-           
products 

-           
product design 

-           
processes 

-           
technical matters 

-           
trade secrets 

-           
copyrights 

-           
customer lists 

-           business
affairs and other vital information items (collectively, "Information") which are valuable, special and unique assets
of OZSC. Mr. Conway agrees that Mr. Conway will not at any time or in any manner, either directly or indirectly, divulge, disclose,
furnish make accessible or communicate any Information to any third party without the prior written consent of OZSC. Mr. Conway
will protect the Information and treat it as strictly confidential. A violation by Mr. Conway of this paragraph shall be a material
violation of this Agreement and will justify legal and/or equitable relief. 

 

INTELLECTUAL
PROPERTY RIGHTS. All information, ideas, concepts, improvements, discoveries, and inventions, whether patentable or not, which
are conceived, made, developed or acquired by Mr. Conway, individually or in conjunction with others, during Mr. Conway’s
employment by OZSC (whether during business hours or otherwise and whether on OZSC's premises or otherwise) which relate to OZSC's
business, products or services (including, without limitation, all such information relating to corporate opportunities, research,
financial and sales data, pricing and trading terms, evaluations, opinions, interpretations, acquisition prospects, the identity
of customers or their requirements, the identity of key contacts within the customer's organizations or within the organization
of acquisition prospects, or marketing and merchandising techniques, prospective names, and marks), and all writings or materials
of any type embodying any of such items, shall be disclosed to OZSC and are and shall be the sole and exclusive property of OZSC.

 

During the
Employment Period, Mr. Conway will devote Mr. Conway’s full-time efforts to the business of OZSC and will not engage in consulting
work or any trade or business for his own account or for or on behalf of any other person, firm or corporation that competes, conflicts
or interferes with the performance of his duties under this Agreement.

 

TERM/TERMINATION.
Mr. Conway's employment under this Agreement shall be for an unspecified term on an "at will" basis. If Mr. Conway's
employment is terminated by OZSC without cause, Mr. Conway shall continue to receive Mr. Conway’s base salary, bonus and
benefits (including car allowance, health care and life insurance as applicable) for a period of six months from the effective
date of termination (the "Severance Period").

 

TERMINATION DUE TO
DEATH. Brian P Conway’s employment under this Agreement will terminate immediately upon Brian P Conway’s death
and OZSC shall not have any further liability or obligations to Brian P Conway's estate, executors, heirs, assigns or any other
person claiming under or through Brian P Conway’s estate, except that Brian P Conway's estate shall receive six months’
salary, any accrued but unpaid salary or bonuses and any life insurance benefits to be paid pursuant to Brian P Conway's beneficiary
designation.

 

NOTICES.
All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when delivered in
person or on the third day after being deposited in the United States mail, postage paid, addressed as follows:

 

Employer:

 

Ozop Surgical Corp.

319 Clematis Street,
Suite 714,

West Palm
Beach FL 33401

 

Executive:

 

Brian P Conway

31 Sandfort LN

Warwick, New York 10990

 

Such addresses
may be changed from time to time by either party by providing written notice in the manner set forth above.

 

BINDING
AGREEMENT. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, personal representatives,
successors and assigns. In the event OZSC is acquired, is a non-surviving party in a merger, or transfers substantially all of
its assets, this Agreement shall not be terminated and the transferee or surviving company shall be bound by the provisions of
this Agreement. The parties understand that the obligations of Mr. Conway are personal and may not be assigned by Brian P Conway.

 

ENTIRE AGREEMENT.
This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement
whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.

 

AMENDMENT.
This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties.

 

SEVERABILITY.
If any provisions of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall
continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that
by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written, construed,
and enforced as so limited.

 

WAIVER
OF CONTRACTUAL RIGHT. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver
or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.

 

APPLICABLE
LAW. This Agreement shall be governed by the laws of the State of New York.

 

SIGNATORIES.
This Agreement shall be executed on behalf of OZSC by Michael Chermak, Director and by Brian P Conway. The Agreement shall
be effective as of the date first written above.

 

 EMPLOYER:

 

Ozop Surgical Corp

 

 

By: /s/ Michael Chermak          

Michael Chermak

Director

Date:
2/28/20

 

 

AGREED TO AND ACCEPTED.

 

 EXECUTIVE:

 

 

By: /s/ Brian
Conway           

Brian P Conway

Date:
2/28/20

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