Document:

Exhibit 10.9 

CONVERTIBLE PROMISSORY NOTE

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR REGISTERED OR QUALIFIED UNDER APPLICABLE STATE SECURITIES LAWS AND THEREFORE THESE SECURITIES MAY NOT BE TRANSFERRED WITHOUT REGISTRATION THERE UNDER OR PURSUANT TO AN EXEMPTION FROM REGISTRATION.

$600,000Torrance, California 

FOR VALUE RECEIVED, Global
Clean Energy Holdings, Inc., a Delaware corporation (the “Company”),
hereby promises to pay to the order of Richard Palmer or his assigns (the “Holder”),
the principal amount of Six Hundred Thousand Dollars ($600,000), together with interest thereon as provided
below. 

The following terms shall apply to this Note:

ARTICLE I

PAYMENT AND DEFAULT-RELATED PROVISIONS

1.1Payment.  On October 8, 2020 (the “Maturity Date”), unless previously paid, and except to the extent previously converted as provided herein, the entire principal amount of this Note together with all accrued and unpaid interest shall be due and payable in full.  All payments to be made under this Note shall be made to Holder at 3806 Newton Street, Torrance, CA 90505 or at such other address or, if by wire transfer, such bank account, as may be designated in writing by Holder from time to time. 

1.2Interest Rate.  Simple interest shall accrue on the outstanding principal balance of this Note at the annual rate of five percent (5%).  Interest under this Note shall be calculated on the basis of a 365-day year for the actual days elapsed. 

1.3Order of Payments.  All payments made by Company hereunder (including, without limitation, any prepayments) shall be applied, first, to the payment of any costs and expenses of collection incurred by Holder under Section 4.5, second, to the payment of accrued but unpaid interest, and last, to the reduction of the outstanding principal balance thereof. 

1.4No Setoff or Counterclaim.  All payments under this Note shall be made to the Holder without set-off, recoupment, counterclaim or other deduction whatsoever. 

1.5Waiver of Presentment and Enforcement.  All parties now or subsequently liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive presentation for payment, demand, notice of nonpayment or dishonor, protest and notice of protest and any and all lack of diligence or delay in collection or enforcement hereof. 

    	 		

    

    

ARTICLE II

CONVERSION RIGHTS

2.1Conversion into the Company's Common Stock. 

(a)The Holder shall have the right, but not the obligation, upon delivery to the Company of the Holder’s written request for conversion, in the form attached hereto (a “Notice of Conversion”), at any time and from time to time until this Note is fully paid, to convert all or any portion of the outstanding principal balance and accrued and unpaid interest on this Note set forth in each such Notice of Conversion into shares of Company’s Common Stock (the “Conversion Shares”) at the Conversion Price (as defined in Section 2.1(b)).  The Company shall issue to the Holder within fifteen (15) business days from the date of delivery of a Conversion Notice (the “Conversion Date”) that number of Conversion Shares determined by dividing that portion of the outstanding balance of this Note to be converted by the Conversion Price. 

(b)Subject to adjustment as set forth in this Section 2.1, the conversion price shall be equal to $0.0035 (the “Conversion Price”).  It is understood that the Conversion Shares to be issued to Holder shall be unregistered. 

(c)If the Company at any time shall consolidate with or merge into or sell or convey all or substantially all its assets to any other person or entity, this Note, as to the unpaid principal portion thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase such number and kind of shares or other securities and property as would have been issuable or distributable on account of such consolidation, merger, sale or conveyance, upon or with respect to the securities subject to the conversion or purchase right immediately prior to such consolidation, merger, sale or conveyance.  The foregoing provision shall similarly apply to successive transactions of a similar nature by any such successor or purchaser.  Without limiting the generality of the foregoing, the provisions of this Section 2.1 shall apply to such securities of such successor or purchaser after any such consolidation, merger, sale or conveyance. 

(d)If the Company at any time shall, by reclassification or otherwise, change the Common Stock into the same or a different number of securities of any class or classes, this Note, as to the unpaid principal portion thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase an adjusted number of such securities and kind of securities as would have been issuable as the result of such change with respect to the Common Stock immediately prior to such reclassification or other change. 

(e)If the shares of Common Stock are subdivided or combined into a greater or lesser number of shares of Common Stock, or if a dividend is paid on the Common Stock in shares of Common Stock, the Conversion Price shall be proportionately reduced in case of subdivision of shares or stock dividend, or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event. 

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(f)The Company shall reserve at all times out of its authorized and unissued Common Stock a sufficient number of Conversion Shares to provide for the issuance of all Common Stock issuable upon the full conversion of this Note.  The Company represents that upon issuance, all such Common Stock will be duly and validly issued, fully paid and non-assessable.  The Company agrees that its issuance of this Note shall constitute full authority to its officers, agents, and transfer agents who are charged with the duty of executing and issuing stock certificates to execute and issue the necessary certificates for Conversion Shares upon the conversion of this Note. 

2.2Method of Conversion.  This Note may be converted by the Holder in whole or in part as described in Section 2.1.  Upon any partial conversion of this Note, the remaining balance outstanding of this Note will remain in full force and effect. 

ARTICLE III

EVENT OF DEFAULT

3.1Events to Default.  occurrence of any of the following events of default (“Event of Default”) shall make all sums of principal and interest then remaining unpaid hereon and all other amounts payable hereunder immediately due and payable, all without demand, presentment or notice, or grace period, all of which hereby are expressly waived: 

(a)Failure to Pay Principal or Interest.  The Company fails to pay when due any portion of the principal, interest or other amount under this Note. 

(b)Breach of Covenant.  The Company breaches any covenant or other term or provision of this Note in any material respect and such breach, if subject to cure, continues for a period of five (5) calendar days after written notice to the Company from the Holder. 

(c)Breach of Representations and Warranties.  Any representation or warranty of the Company made herein, or in any agreement, statement or certificate given in writing pursuant hereto or in connection therewith shall be false or misleading. 

(d)Receiver or Trustee.  The Company shall make an assignment for the benefit of creditors, or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business; or such a receiver or trustee shall otherwise be appointed. 

(e)Bankruptcy.  Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings or relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Company. 

(f)Failure to Deliver Securities or Replacement Note.  The Company's failure to timely deliver to the Holder Conversion Shares or other securities, or any replacement Note, pursuant to and in the form required by this Note. 

3.2Remedies of Holder are Cumulative.  The remedies of Holder as provided herein, and any one or more of them, whether in law or in equity, shall be cumulative and  

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concurrent, and may be pursued singularly, successively or together at Holder’s sole discretion, and may be exercised as often as Holder may decide in its sole and absolute discretion.

ARTICLE IV

MISCELLANEOUS

4.1Failure or Indulgence Not Waiver.  No failure or delay on the part of the Holder hereof in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege.  All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

4.2Notices.  Any notice herein required or permitted to be given shall be in writing and shall be deemed effectively given:  (a) upon personal delivery to the party notified, (b) when sent by confirmed e-mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) three days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt.  All communications shall be sent to the Company and Holder at the addresses on the first page of this Note or at such other address as the Company or the Holder may designate by ten days advance written notice to the other parties hereto. 

4.3Amendment Provision.  The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument as originally executed, or if later amended or supplemented, then as so amended or supplemented. 

4.4Assignability.  This Note shall be binding upon the Company and its successors and assigns, and shall inure to the benefit of the Holder and his successors and assigns, and may be assigned by the Holder. 

4.5Cost of Collection.  If default is made in the payment of this Note, the Company shall pay the Holder hereof reasonable costs of collection, including reasonable attorneys' fees. 

4.6Governing Law.  This Note shall be governed by and construed in accordance with the laws of the State of California, without regard to principles of conflicts of laws.  Any action brought by either party against the other concerning the transactions contemplated by this Agreement shall be brought only in the state courts of or in the federal courts located in Los Angeles County, California.  Both parties and the individual signing this Note on behalf of the Company agree to submit to the jurisdiction of such courts.  The prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and costs. 

4.7Maximum Payments.  Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law.  In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such  

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maximum shall be credited against amounts owed by the Company to the Holder and thus refunded to the Company.

4.8Prepayment.  This Note may not be paid (in whole or in part) prior to the Maturity Date without the consent of the Holder.  

4.9Time.  Time is of the essence as to all matters in and related to this Note. 

4.10Construction.  Each party agrees that the rule of construction that ambiguities are to be resolved against the drafting party shall not be applied in the interpretation of this Note to favor any party against the other. 

IN WITNESS WHEREOF, the Company has caused this Note to be signed in its name on this 16th day of October 2018.

	 

	GLOBAL CLEAN ENERGY HOLDINGS, INC.

 

	By: 

	/s/ DAVID WALKER

	 

	Name: David Walker

Title:   Chairman of the Board

 

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NOTICE
OF CONVERSION

(To be executed by the Holder in order to convert the Note)

The undersigned hereby irrevocably elects, as of the Date of Conversion stated below, to convert $_______ of the principal and interest due on the $_______ Convertible Promissory Note issued by GLOBAL CLEAN ENERGY HOLDINGS, INC. on October __, 2018, into shares of Common Stock of GLOBAL CLEAN ENERGY HOLDINGS, INC. (the “Company”) according to the conditions set forth in such Note, as of the date written below.

Date of Conversion:   

Initial Conversion Price: $0._____ per Share (subject to adjustment as provided in the Note)

Number of Shares To Be Delivered:   

Signature:  

Print Name:  

Print Title:  

Print Name of Current Note Holder:  

Address:   

  

Tax ID:  

    		6Exhibit 10.10

 

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT (this “Agreement”)
is entered into as of the 15th day of January, 2019 (the “Effective Date”), by and between Global Clean Energy
Holdings, Inc. (“GCEH” or “Company”), and Noah Verleun (hereinafter, “Employee,”
and collectively with the Company, the “Parties”).

W I T N E S S E T H:

WHEREAS, the Company and Employee
wish to enter into an Employment Agreement between the Parties. the (“Employment Agreement”); and

NOW, THEREFORE, in consideration
of the mutual covenants hereinafter set forth, the parties hereto agree as follows:

ARTICLE I

EMPLOYMENT; TERM; DUTIES

1.1              
Employment. Pursuant to the terms and conditions hereinafter set forth, the Company
wishes to promote and employ Employee to the title of Senior Vice President of the Company. 

1.2              
Term. Employee’s Term of employment with Company shall be three (3) years from
the date of execution of this agreement. Company shall not terminate Employee’s employment for any reason other than those
stated in paragraph 3.1 herein, which reasons shall constitute cause. Any failure of Company to comply with the express terms of
this agreement shall constitute a material breach and shall entitled Employee to all remedies provided in law or equity. The Term
provided for herein shall not be amended except by a writing executed both by Company and by Employee.

1.3              
Duties and Responsibilities. Employee shall perform such administrative, managerial
and executive duties for the Company (and its subsidiaries if and when directed by the President and/or Chief Executive Officer
(the “Officers”)) as are prescribed by applicable job specifications for the SVP and the Officers of the Company, such
tasks and responsibilities as are customarily vested in and incidental to such positions, and such other duties, consistent with
the Company’s needs, as may be assigned to him from time to time in writing, by the Officers. 

1.4              
Exclusive Employment. Employee shall devote all of Employee’s business time,
attention, skill, and best efforts to the performance of Employee’s duties under this Agreement and shall not engage in any
other business, board membership or occupation without the prior written consent of the Board (which shall not be unreasonably
withheld), including, without limitation, any activity that (x) conflicts with the interests of the Company, (y) interferes
with the proper and efficient performance of Employee’s duties for the Company, or (z) interferes with Employee’s
exercise of judgment in the Company’s best interests. Notwithstanding the foregoing, nothing in this Agreement shall prevent
Employee from engaging in activities for Employee’s personal investments, residing on boards of other companies, religious,
charitable, community or non-for-profit activities that do not conflict or interfere with his ability to fulfill his duties and
responsibilities to the Company

1.5              
Indemnification and Insurance. The Company agrees to indemnify the Employee for his
role as Senior Vice President. A separate indemnity agreement will be executed to fulfil this requirement. Covenants of Employee

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1.5.1         
Best Efforts. Employee shall report directly to the President and/or Chief Executive
Officer and shall devote his best efforts to the business and affairs of the Company (and its subsidiaries if and when directed
by the Officers). Executive shall perform his duties, responsibilities and functions to the Company hereunder to the best of his
abilities in a diligent, trustworthy, professional and efficient manner and shall comply, in all material respects, with all rules,
regulations of the Company (and special instructions of the Officers, if any) and all other rules, regulations, guides, handbooks,
procedures and policies applicable to the Company and its business in connection with his duties hereunder.

1.5.2         
Records. Employee shall use his best efforts and skills to truthfully, accurately,
and promptly prepare, maintain, and preserve all records and reports that the Company may, from time to time, request or require,
fully account for all money, records, equipment, materials, or other property belonging to the Company of which he may have custody,
and promptly pay and deliver the same whenever he may be directed to do so, in writing, by the Officers.

1.5.3         
Code of Conduct. For such period as when Employee is employed hereunder, Employee shall
at all times conduct himself with the highest ethical standards, and shall at all times adhere to Code of Conduct attached hereto
as Exhibit A.

1.5.4         
Opportunities. The Employee shall make available to the Company and present to the
Board all business opportunities of which he becomes aware, which are relevant to the business of the Company (and its subsidiaries),
and to no other person or entity or to himself individually. 

ARTICLE II

COMPENSATION AND OTHER BENEFITS

2.1              
Base Salary. Beginning at the Financial closing of the Bakersfield Refinery Project
and continuing for the duration of the Term, for all services rendered by Employee hereunder and all covenants and conditions undertaken
by the Parties pursuant to this Agreement, the Company shall pay, and Employee shall accept, as compensation, an increase to an
annual base salary (“Base Salary”) of $220,000.00. The Base Salary shall be payable in regular installments
in accordance with the normal payroll practices of the Company, in effect from time to time, but in any event no less frequently
than on a monthly basis. 

2.2              
Bonus Compensation. 

2.3.1        Annual
Bonus - Employee will be eligible to earn an annual bonus (the “Bonus”) based on Employee’s achievement
of certain bonus objectives (Objectives”) established by the Employee subject to the approval of the Compensation
Committee of the Board (“Compensation Committee”). It shall be the joint obligation of the Employee and the
Compensation Committee to develop and agree to written achievable Objectives within the first forty five (45) days of the applicable
bonus year. Any annual Bonus and any Bonus to be awarded, if any, will be solely based upon achievement of the written Objectives.
The sole responsibility of the Compensation Committee with regard to Employee’s bonus is to determine whether the written
objectives have been met. The target amount of the Bonus for any given employment year, assuming that all of the target milestones
are met, shall be an amount equal to thirty percent (30%) of the Base Salary in effect for the applicable year. Notwithstanding
anything herein to the contrary, the Parties hereby acknowledge and agree that the Compensation Committee shall, in accordance
with NASDAQ rules and regulations for publicly traded companies, comprise

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independent directors of the Board only. In the event
that the Company has not established a Compensation Committee, the independent directors of the Board shall determine whether the
Objectives have been satisfied. The amount of the annual bonus, if any, shall be determined by the
Compensation Committee, based upon a pre-established formula based upon Employee’s achievement of the Objectives. In order
to be eligible to receive the full amount of any annual bonus, Employee must be employed by the Company on the last day of the
year in which the annual bonus is earned. The annual bonus, if any, shall be paid in the calendar year following the calendar year
for which the annual bonus is due, but in any event no later than March 15 of such year, provided that if the Company’s annual
financial statements have not been audited and approved by the Board prior to such date, and if an audit later determines that
the Objectives were not achieved at the levels on which the bonus was paid to Employee, then within five (5) business days after
such determination, Employee shall return any overpaid sums to Company. If the Company is unable to pay any Bonus or other Compensation
from the execution date of this Agreement, the outstanding amount will accrue simple interest at the rate of (five) 5% per annum.

2.3.2        Equity
Incentive Option. Concurrently with the execution of this Agreement, the Company shall grant Employee an option (the “Equity
Incentive Option”) to purchase 50 million shares of the Company’s common stock at an exercise price equal to $.02 (2.0
cents) per share. The Incentive Option shall vest according to the schedule set forth below, and will expire five (5) years after
the date of grant:

a. When the Company’s Market
Capitalization reaches $ 7 million, the Incentive Option shall vest with respect to thirteen million nine hundred thousand (13,900,000)
shares (such shares, the “First Tranche”) of the Company’s common stock subject thereunder; and

b. When
the Company’s Market Capitalization reaches $ 15 million, the Incentive Option shall vest with respect to sixteen million
three hundred and thousand (16,300,000) shares (such shares, the “Second Tranche”) of the Company’s common stock
subject thereunder; and

c. When the Company’s Market
Capitalization reaches or exceeds $ 25 million, the Incentive Option shall vest with respect to the remaining Nineteen million
eight hundred thousand (19,800,000) shares (such shares, the “Third Tranche”) shares of the Company’s common
stock subject thereunder.

For purposes of the Agreement, the term
“Market Capitalization” shall mean the product of the number of shares of common stock issued and outstanding
at the time Market Capitalization is calculated, multiplied by the average closing price of the common stock for the thirty (30)
consecutive trading days prior to the date of calculation of Market Capitalization as reported on the principal securities trading
system on which the Company’s common stock is then listed for trading, including the Pink Sheets, the NASDAQ Stock Market,
the OTC Bulletin Board, or any other applicable stock exchange.

 

2.3              
Business Expenses. The Company shall reimburse Employee for all reasonable, out-of-pocket
business expenses incurred in the performance of his duties hereunder consistent with the Company’s policies and procedures,
in effect from time to time, with respect to travel, entertainment and other business expenses customarily reimbursed to senior
executives of the Company in connection with the performance of their duties on behalf of the Company. Such reimbursement shall
be made by

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Company to Employee no later than fifteen (15) days after
submission of written expense reports by Employee to Company.

2.4              
Other Benefits. During Employee’s employment with the Company, Employee shall
be entitled to the following benefits:

2.4.1         
Employee shall be entitled to participate in the Company’s employee stock option plan,
life, health, accident, disability insurance plans, pension plans and retirement plans, in effect from time to time, to the extent
and on such terms and conditions as the Company customarily makes such plans available to its senior executives; and

2.4.2         
Employee shall be entitled to receive coverage for services rendered to the Company (and its
subsidiaries if and when directed by the Board) while Employee is a director or officer of the Company under any director and officer
liability insurance policy(s) maintained by the Company from time to time; and

2.4.3         
Company shall pay for, or on behalf of Employee, or reimburse the Employee, the full cost
of Employee’s and Employee’s family health insurance plan. Nothing contained herein shall be construed to limit the
Company’s ability to amend, suspend, or terminate any employee benefit plan or policy at any time to the extent permissible
by law without providing Employee notice, and the right to do so is expressly reserved.

2.5              
Vacation. Employee shall be entitled to four (4) weeks of vacation time each calendar
year with full pay. Any unused vacation leave as of December 31st of the calendar year will be either be paid in cash
compensation at the same rate as the Employees base salary or the unused vacation time can be rolled forward to the following year(s),
at the Employees option. If taken as cash compensation, such payment shall be made to Employee by January 15th of the
following calendar year.

2.6              
Withholding. The Company may deduct from any compensation payable to Employee (including
payments made pursuant to this Article II or in connection with the termination of employment pursuant to Article III of this Agreement)
amounts sufficient to cover Employee’s share of applicable federal, state and/or local income tax withholding, social security
payments, state disability and other insurance premiums and payments.

ARTICLE III

TERMINATION OF EMPLOYMENT

3.1              
Termination of Employment

Employee’s employment pursuant
to this Agreement shall terminate on the earliest to occur of the following:

3.1.1         
upon the death of Employee; or

3.1.2         
upon the delivery to Employee of written notice of termination by the Company if Employee
shall suffer a physical or mental disability which renders Employee, in the reasonable judgment of the Board, unable to perform
his duties and obligations under this Agreement for either 90 consecutive days or 180 days in any 12-month period; or

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3.1.3         
upon delivery to Employee of written notice of termination by the Company for Cause; or

3.1.4         
upon delivery of written notice from Employee to the Company for Good Reason.

3.2              
Certain Definitions. For purposes of this Agreement, the following terms shall have
the following meanings:

3.2.1         
In connection with Paragraph 3.1 herein, “Cause” shall mean any of the
following:

(a)               
Employee materially breaches any obligation, duty, or covenant under this Agreement, which
breach is not cured or corrected within thirty (30) days of receipt by Employee of written notice thereof from the Company
(except for breaches of Article IV of this Agreement, which cannot be cured and for which the Company need not give any opportunity
to cure); or

(b)               
Employee commits any act of misappropriation of funds or embezzlement; or

(c)               
Employee commits any act of fraud; or

(d)               
Employee is convicted of, or pleads guilty or nolo contendere to any charge of theft,
fraud, a crime involving moral turpitude; or

(e)               
Employee breaches the Company’s Code of Conduct attached hereto as Exhibit A
or code of ethics as in effect from time to time.

3.2.2         
In connection with Paragraph 3.1 herein, “Good Reason” shall mean: (a)
without Employee’s consent, the Company changes Employee’s position or duties to such an extent that his duties are
no longer consistent with the positions of President and CEO of the Company, or (b) Company materially breaches any term of this
Agreement; provided that, in each case, “Good Reason” shall not exist unless Employee first provides the Company with
written notice of the acts or omissions constituting the grounds for “Good Reason” within ninety (90) days of the initial
existence of the grounds for “Good Reason” and such acts or omissions are not cured within thirty (30) days following
the Company’s receipt of such notice.

3.2.3         
“Termination Date” shall mean the date on which Employee’s employment
with the Company hereunder is terminated. 

3.3              
Effect of Termination

3.3.1         
If Employee’s employment is terminated for Good Reason , in addition to Company’s
payment of all outstanding sums due and owing to Employee at the time of separation, the Company shall pay Employee an amount equal
to four (4) months of Employee’s then-current Base Salary in the form of salary continuation (the “Severance Payments”),
plus payment of Employee’s and Employee’s family medical insurance premium. At such time when Employee’s employment
with the Company is terminated, and as a condition to Employee’s right to receive any benefits pursuant to this Section 3.3.1,
shall be conditioned upon Employee’s execution, delivery to the Company, and non-revocation of the Release of Claims (and
the expiration of any revocation period contained in such Release of Claims) within sixty (60) days following the date of Employee’s
separation from service

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hereunder. The Release of Claims shall specifically exclude
all unpaid wages (and bonus payments) due and owing to Employee as of the date of separation. If Employee fails to execute the
Release of Claims in such a timely manner so as to permit any revocation period to expire prior to the end of such sixty (60) day
period, or timely revokes Employee’s acceptance of such release following its execution, Employee shall not be entitled to
any of the Severance Payments. Further, to the extent that any of the Severance Payments constitutes “nonqualified deferred
compensation” for purposes of Section 409A of the Code, any payment of any amount or provision of any benefit otherwise scheduled
to occur prior to the sixtieth (60th) day following the date of Employee’s separation from service hereunder,
but for the condition on executing the Release of Claims as set forth herein, shall not be made until the first regularly scheduled
payroll date following such sixtieth (60th) day, after which any remaining Severance Payments shall thereafter be provided
to Employee according to the applicable schedule set forth herein. In the event Employee executes
a Release of Claims pursuant to this paragraph and, thereafter, Company fails to pay any sum due and owing to Employee under this
paragraph 3.3.1, then the Employee shall have the right, but not the obligation to convert outstanding sums due to Employee to
GCEH Corporate stock at the then market price of the stock. 

3.3.2         
Notwithstanding the reason for termination of Employee’s employment, Employee shall
be entitled to: 

(a)               
all benefits payable under applicable benefit plans in which Employee is entitled to participate
pursuant to Section 2.5 hereof through the Termination Date, subject to and in accordance with the terms of such plans; and

(b)               
any accrued but unused vacation earned by Employee through the Termination Date pursuant to
Section 2.6 hereof, paid out in accordance with legal requirements; and

(c)               
reimbursement for any business expenses incurred by Employee prior to Termination Date in
accordance with Section 2.4 of this Agreement. 

3.3.3         
If Employee’s employment is terminated for death or disability Employee or Employee’s
estate shall be entitled to all severance benefits (including, without limitation, the Severance Payments) under this Agreement
as well as retaining any options vested as of the date of termination. 

 

ARTICLE IV

INVENTIONS; CONFIDENTIAL/TRADE SECRET INFORMATION AND RESTRICTIVE COVENANTS

4.1              
Inventions. All processes, technologies and inventions relating to the business of
the Company (and its subsidiaries) (collectively, “Inventions”), including new contributions, improvements,
ideas, discoveries, trademarks and trade names, conceived, developed, invented, made or found by the Employee, alone or with others,
during his employment by the Company, whether or not patentable and whether or not conceived, developed, invented, made or found
on the Company’s time or with the use of the Company’s facilities or materials, shall be the property of the Company
and shall be promptly and fully disclosed by Employee to the Company. The Employee shall perform all necessary acts (including,
without limitation, executing and delivering any confirmatory assignments, documents or instruments requested by the Company) to
assign or otherwise to vest title to any such Inventions in the Company and to enable the Company, at its sole expense, to secure
and maintain domestic and/or foreign patents or any other rights for such Inventions. 

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4.2              
Confidential/Trade Secret Information/Non-Disclosure.

4.2.1         
Confidential/Trade Secret Information Defined. During the course of Employee’s
employment, Employee will have access to various Confidential/Trade Secret Information of the Company and information developed
for the Company. For purposes of this Agreement, the term “Confidential/Trade Secret Information” is information
that is not generally known to the public and, as a result, is of economic benefit to the Company in the conduct of its business,
and the business of the Company’s subsidiaries. Employee and the Company agree that the term “Confidential/Trade
Secret Information” includes but is not limited to all information developed or obtained by the Company, including its
affiliates, and predecessors, and comprising the following items, whether or not such items have been reduced to tangible form
(e.g., physical writing, computer hard drive, disk, tape, etc.): all methods, techniques, processes, ideas, research and development,
product designs, engineering designs, plans, models, production plans, business plans, add-on features, trade names, service marks,
slogans, forms, pricing structures, menus, business forms, marketing programs and plans, layouts and designs, financial structures,
operational methods and tactics, cost information, the identity of and/or contractual arrangements with suppliers and/or vendors,
accounting procedures, and any document, record or other information of the Company relating to the above. Confidential/Trade Secret
Information includes not only information directly belonging to the Company which existed before the date of this Agreement, but
also information developed by Employee for the Company, including its subsidiaries, affiliates and predecessors, during the term
of Employee’s employment with the Company. Confidential/Trade Secret Information does not include any information which (a)
was in the lawful and unrestricted possession of Employee prior to its disclosure to Employee by the Company, its subsidiaries,
affiliates or predecessors, (b) is or becomes generally available to the public by lawful acts other than those of Employee after
receiving it, or (c) has been received lawfully and in good faith by Employee from a third party who is not and has never been
an executive of the Company, its subsidiaries, affiliates or predecessors, and who did not derive it from the Company, its subsidiaries,
affiliates or predecessors.

4.2.2         
Restriction on Use of Confidential/Trade Secret Information. Employee agrees that his/her
use of Confidential/Trade Secret Information is subject to the following restrictions for an indefinite period of time so long
as the Confidential/Trade Secret Information has not become generally known to the public:

(a)               
Non-Disclosure. Employee agrees that he will not publish or disclose, or allow to be
published or disclosed, Confidential/Trade Secret Information to any person without the prior written authorization of the Company
unless pursuant to or in connection with Employee’s job duties to the Company under this Agreement.

(b)               
Non-Removal/Surrender. Employee agrees that he will not remove any Confidential/Trade
Secret Information from the offices of the Company or the premises of any facility in which the Company is performing services,
except pursuant to his duties under this Agreement. Employee further agrees that he shall surrender to the Company all documents
and materials in his possession or control which contain Confidential/Trade Secret Information and which are the property of the
Company upon the termination of this Agreement, and that he shall not thereafter retain any copies of any such materials.

4.2.3         
Prohibition Against Unfair Competition/ Non-Solicitation of Customers. Employee agrees
that at no time after his employment with the Company will he engage in competition with the Company while making any use of the
Confidential/Trade Secret Information, or otherwise exploit or make use of the Confidential/Trade Secret Information. Employee
agrees that during the twelve month period following the Termination Date, he will not directly or indirectly accept or solicit,
in any capacity, the business of any customer of the Company with whom Employee worked or otherwise

    7

     

    

had access to the Confidential/Trade Secret Information pertaining
to the Company’s business with such customer during the last year of Employee’s employment with the Company, or solicit,
directly or indirectly, or encourage any of the Company’s customers or suppliers to terminate their business relationship
with the Company, or otherwise interfere with such business relationships.

4.3              
Non-Solicitation of Employees. Employee agrees that during the twelve month period
following the Termination Date, he shall not, directly or indirectly, solicit, directly or indirectly, or otherwise encourage any
employees of the Company to leave the employ of the Company, or solicit, directly or indirectly, any of the Company’s employees
for employment.

4.4              
Non-Solicitation During Employment. During his employment with the Company, Employee
shall not: (a) interfere with the Company’s business relationship with its customers or suppliers, (b) solicit, directly
or indirectly, or otherwise encourage any of the Company’s customers or suppliers to terminate their business relationship
with the Company, or (c) solicit, directly or indirectly, or otherwise encourage any employees of the Company to leave the employ
of the Company, or solicit any of the Company’s employees for employment.

4.5              
Conflict of Interest. During Employee’s employment with the Company, Employee
must not engage in any work, paid or unpaid, that creates an actual conflict of interest with the Company. 

4.6              
Breach of Provisions. If Employee breaches any of the provisions of this Article IV,
or in the event that any such breach is threatened by Employee, in addition to and without limiting or waiving any other remedies
available to the Company at law or in equity, the Company shall be entitled to immediate injunctive relief in any court, domestic
or foreign, having the capacity to grant such relief, to restrain any such breach or threatened breach and to enforce the provisions
of this Article IV. 

4.7              
Reasonable Restrictions. The Parties acknowledge that the foregoing restrictions, as
well as the duration and the territorial scope thereof as set forth in this Article IV, are under all of the circumstances reasonable
and necessary for the protection of the Company and its business.

4.8              
Special Definition. For purposes of this Article IV, the term “Company”
shall be deemed to include any subsidiary of the Company.

ARTICLE V

MISCELLANEOUS

5.1              
Section 409A. Notwithstanding anything herein to the contrary, this Agreement is intended
to be interpreted and applied so that the payment of the benefits set forth herein either shall either be exempt from the requirements
of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or shall comply with the requirements
of such provision. Notwithstanding anything in this Agreement or elsewhere to the contrary, distributions upon termination of Employee’s
employment may only be made upon a “separation from service” as determined under Section 409A of the Code. Each payment
under this Agreement or otherwise shall be treated as a separate payment for purposes of Section 409A of the Code. In no event
may Employee, directly or indirectly, designate the calendar year of any payment to be made under this Agreement or otherwise which
constitutes a “deferral of compensation” within the meaning of Section 409A of the Code. All reimbursements and in-kind
benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code.
To the extent that any reimbursements pursuant to this Agreement or otherwise are taxable to Employee, any reimbursement payment
due to Employee shall be paid to Employee on or before the last day of Employee’s taxable year following the taxable year
in which the

    8

     

    

related expense was incurred; provided, that,
Employee has provided the Company written documentation of such expenses in a timely fashion and such expenses otherwise satisfy
the Company’ expense reimbursement policies. Reimbursements pursuant to this Agreement or otherwise are not subject to liquidation
or exchange for another benefit and the amount of such reimbursements that Employee receives in one taxable year shall not affect
the amount of such reimbursements that Employee receives in any other taxable year. Notwithstanding any provision in this Agreement
to the contrary, if on the date of his termination from employment with the Company Employee is deemed to be a “specified
employee” within the meaning of Code Section 409A and the Final Treasury Regulations using the identification methodology
selected by the Company from time to time, or if none, the default methodology under Code Section 409A, any payments or benefits
due upon a termination of Employee’s employment under any arrangement that constitutes a “deferral of compensation”
within the meaning of Code Section 409A shall be delayed and paid or provided (or commence, in the case of installments) on the
first payroll date on or following the earlier of (i) the date which is six (6) months and one (1) day after Employee’s termination
of employment for any reason other than death, and (ii) the date of Employee’s death, and any remaining payments and benefits
shall be paid or provided in accordance with the normal payment dates specified for such payment or benefit. Notwithstanding any
of the foregoing to the contrary, the Company and its respective officers, directors, employees, or agents make no guarantee that
the terms of this Agreement as written comply with, or are exempt from, the provisions of Code Section 409A, and none of the foregoing
shall have any liability for the failure of the terms of this Agreement as written to comply with, or be exempt from, the provisions
of Code Section 409A.

5.2              
Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit
of the Parties and their respective legal representatives, heirs, distributees, successors and assigns. Employee may not assign
any of his rights and obligations under this Agreement. The Company may assign its rights and obligations under this Agreement
to any successor entity. 

5.3              
Notices. Any notice provided for herein shall be in writing and shall be deemed to
have been given or made (a) when personally delivered or (b) when sent by telecopier and confirmed within 48 hours by letter mailed
or delivered to the party to be notified at its or his/hers address set forth herein; or three (3) days after being sent by registered
or certified mail, return receipt requested, (or by equivalent currier with delivery documentation such as FEDEX or UPS) to the
address of the other party set forth or to such other address as may be specified by notice given in accordance with this section
5.2:

	If to the Company:	
        Global Clean Energy Holdings, Inc.

        2790 Skypark Drive, Suite 105

        Torrance, CA 90505

        Attention: Richard Palmer

         

	
        With a copy (which shall not constitute notice) to:

         
	
        Troy & Gould

        1801 Century Park East, 26th Floor

        Los Angeles, CA 90067

        Attention: Istvan Benko, Esq.

        Telecopy No.: (310) 789-1490

	
         

        If to Employee:
	
         

        Noah Verleun

        838 5th Street

        Santa Monica, CA 90403

         

    9

     

    

 

	
        With a copy (which shall not constitute notice) to:

         
	[to be provide by Employee]
	 	 

5.4              
Severability. If any provision of
this Agreement, or portion thereof, shall be held invalid or unenforceable by a court of competent jurisdiction, such invalidity
or unenforceability shall attach only to such provision or portion thereof, and shall not in any manner affect or render invalid
or unenforceable any other provision of this Agreement or portion thereof, and this Agreement shall be carried out as if any such
invalid or unenforceable provision or portion thereof were not contained herein. In addition, any such invalid or unenforceable
provision or portion thereof shall be deemed, without further action on the part of the parties hereto, modified, amended or limited
to the extent necessary to render the same valid and enforceable.

5.5              
Waiver. No waiver by a party hereto of a breach or default hereunder by the other party
shall be considered valid, unless expressed in a writing signed by such first party, and no such waiver shall be deemed a waiver
of any subsequent breach or default of the same or any other nature.

5.6              
Entire Agreement. This Agreement sets forth the entire agreement between the Parties
with respect to the subject matter hereof, and supersedes any and all prior agreements between the Company and Employee, whether
written or oral, relating to any or all matters covered by and contained or otherwise dealt with in this Agreement. This Agreement
does not constitute a commitment of the Company with regard to Employee’s employment, express or implied, other than to the
extent expressly provided for herein.

5.7              
Amendment. No modification, change or amendment of this Agreement or any of its provisions
shall be valid, unless in writing and signed by the Parties.

5.8              
Authority. The Parties each represent and warrant that it/he has the power, authority
and right to enter into this Agreement and to carry out and perform the terms, covenants and conditions hereof.

5.9              
Attorneys’ Fees. If either party hereto commences an arbitration or other action
against the other party to enforce any of the terms hereof or because of the breach by such other party of any of the terms hereof,
the prevailing party shall be entitled, in addition to any other relief granted, to all actual out-of-pocket costs and expenses
incurred by such prevailing party in connection with such action, including, without limitation, all reasonable attorneys’
fees, and a right to such costs and expenses shall be deemed to have accrued upon the commencement of such action and shall be
enforceable whether or not such action is prosecuted to judgment.

5.10          
Captions. The captions, headings and titles of the sections of this Agreement are inserted
merely for convenience and ease of reference and shall not affect or modify the meaning of any of the terms, covenants or conditions
of this Agreement.

5.11          
Governing Law. This Agreement, and all of the rights and obligations of the Parties
in connection with the employment relationship established hereby, shall be governed by and construed in accordance with the substantive
laws of the State of California without giving effect to principles relating to conflicts of law.

5.12          
Arbitration.

5.12.1     
Scope. To the fullest extent permitted by law, Employee and the Company agree to the
binding arbitration of any and all controversies, claims or disputes between them arising out of or in

    10

     

    

any way related to this Agreement, the employment relationship
between the Company and Employee and any disputes upon termination of employment, including but not limited to breach of contract,
tort, , constitutional claims; and any claims for violation of any local, state or federal law, statute, regulation or ordinance
or common law, excluding any claim for wages under the California Labor Code ,or any claim relating to the Company’s failure
to pay wages. For the purpose of this agreement to arbitrate, references to “Company” include all subsidiaries or related
entities and their respective executives, supervisors, officers, directors, agents, pension or benefit plans, pension or benefit
plan sponsors, fiduciaries, administrators, affiliates and all successors and assigns of any of them, and this agreement to arbitrate
shall only apply to them to the extent Employee’s claims arise out of or relate to their actions on behalf of the Company.

5.12.2     
Arbitration Procedure. To commence any such arbitration proceeding, the party commencing
the arbitration must provide the other party with written notice of any and all claims forming the basis of such right in sufficient
detail to inform the other party of the substance of such claims. In no event shall this notice for arbitration be made after the
date when institution of legal or equitable proceedings based on such claims would be barred by the applicable statute of limitations.
The arbitration will be conducted in Los Angeles, California, by a single neutral arbitrator and in accordance with the then-current
rules for resolution of employment disputes for Judicial Arbitration and Mediation Services (“JAMS”). The Arbitrator
is to be selected by the mutual agreement of the Parties. If the Parties cannot agree, the Superior Court will select the arbitrator.
The parties are entitled to representation by an attorney or other representative of their choosing. The arbitrator shall have
the power to enter any award that could be entered by a judge of the trial court of the State of California, and only such power,
and shall follow the law. The award shall be binding, and the Parties agree to abide by and perform any award rendered by the arbitrator.
The arbitrator shall issue the award in writing, and therein state the essential findings and conclusions on which the award is
based. Judgment on the award may be entered in any court having jurisdiction thereof. In the event either the Company or Employee
initiates the arbitration proceeding, Company shall bear the total cost of the arbitration filing, hearing fees, and the entire
cost of the arbitrator. 

5.13          
Survival. The termination of Employee’s employment with the Company pursuant
to the provisions of this Agreement shall not affect Employee’s obligations to the Company hereunder which by the nature
thereof are intended to survive any such termination, including, without limitation, Employee’s obligations under Article
IV of this Agreement.

 

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above written.

	 	
        GLOBAL CLEAN ENERGY HOLDINGS, INC.,

        

        

         

         

        By: /s/ RICHARD PALMER

        Name: Richard Palmer

        Title: President and Chief Executive Officer

         

         

         

        By: /s/ NOAH VERLEUN

        Noah Verleun

	 	 
	 	 

    11

     

    

EXHIBIT A

 

CODE OF CONDUCT

 

Honesty and Integrity

Our business is based on mutual trust, honesty and integrity in
all of our affairs, both internally and externally. This philosophy must be respected at all times. Each of us must be truthful
in our business dealings with each other, and with our auditors, legal counsel, regulators and loan review and compliance staffs.
Illegal, dishonest and fraudulent acts are grounds for termination. Making false materials statements or otherwise material misleading
internal or external auditors, attorneys, regulators or loan review and compliance personnel is prohibited. You must never intentionally
withhold or fail to communicate material information that is requested in connection with an appropriately authorized investigation
or review. Any concealment of material information is a violation of your employment agreement, which may result in termination
of your employment with the Company.

 

Protecting Corporate Assets

You are responsible for safeguarding the assets of the Company.
Company assets must not be used for personal benefit. The Company’s assets include, but are not limited to, all of its properties,
including intellectual properties, business information, cash, and securities. Misappropriation of Company assets is a violation
of your employment agreement, which may result in termination of your employment with the Company.

 

Accuracy of Company Records and Reports

The Company is committed to maintaining records, data and information
that are materially accurate and complete so as to permit the Company to make timely and accurate disclosures to its regulators
and to its shareholders. You are responsible for the integrity of the information, reports and records under your control. Records
must be maintained in sufficient detail so as to reflect accurately the Company’s transactions and activities. Company’s
financial statements must be prepared in accordance with generally accepted accounting principles (“GAAP”) and fairly
represent, in all material respects, the financial condition and results of the Company. To accomplish full, fair, and accurate
reporting, you must use your best efforts to ensure that financial reports issued by the Company are timely, accurate, understandable,
and complete.

 

Compliance With Laws

The Company’s activities shall be in full compliance with
all applicable laws and regulations. When such laws or regulations are ambiguous or difficult to interpret, you should seek advice
from the Company’s outside legal counsel.

 

Conflicts Of Interest

You must conduct your private, business, and personal activities
in a manner that avoids conflict with your ability to act solely in the interests of the Company. A conflict of interest may arise
if you have interests of any nature that compromise your ability to act objectively and in the best interests of the Company. Conflicts
may arise directly or through your family members or through business or other entities in which you or your family members have
an interest. In situations where a conflict is present, you must seek Board approval for the perceived conflict or you must disqualify
yourself from direct involvement with the transaction or relationship between that person and the Company where the conflict exists,
except as set forth in Section 1.6 herein.

 

Business Ventures with Customers

You may not enter into or participate with the Company’s customers
in business ventures without the approval of a majority of the Governance & Compliance Committee of the Board.

    12

     

    

 

Acting as a Fiduciary

Officers may not assume the responsibility of executor, administrator,
trustee, guardian, custodian, attorney-in-fact under a power of attorney, or any other fiduciary capacity (except with respect
to matters involving direct family relationships) without the approval of a majority of the Governance & Compliance Committee
of the Board.

 

Company Opportunities

You must not take for yourself any opportunity that belongs to the
Company. Whenever the Company has been seeking a particular business opportunity, or the opportunity has been offered to the Company,
or the Company’s funds, facilities or personnel have been used in developing the opportunity, that opportunity rightfully
belongs to the Company and not to its employees.

 

Investments in Customers or Suppliers

Because investments are an area in which conflicts of interest can
very easily develop, you should obtain prior approval from a majority of the Governance & Compliance Committee of the Board
before investing directly or indirectly in the business of a customer or supplier of the Company, other than a Permitted Public
Company Interest, as defined above. Under no circumstances should you acquire an equity interest in a company that is a customer
or supplier at a price which is more favorable than the price offered to the general public. If you own a direct or indirect interest
in a business or other entity that becomes a customer or supplier, you should notify a majority of the Governance & Compliance
Committee of the Board of the Board as soon as the underlying facts are known to you.

 

Business Expenses

You must have all business-related expenses approved by the Chairman
of the Board of Directors and the Chief Financial Officer of the Company. You must carefully observe expense account regulations
and guidelines. Falsification of an expense account is considered to be a misappropriation of corporate funds and may constitute
grounds for disciplinary action, and depending on the severity, dismissal.

 

Bequests from Customers

You may not accept a bequest or legacy from a customer, unless the
customer is your immediate family member. However, there may be an occasional instance when a bequest from a non-relative customer
is based upon a relationship other than the normal business relationship, which arises between you and a customer. In such a situation,
full consideration by a majority of disinterested members of the Governance & Compliance Committee of the Board, will be given
to approving receipt of the bequest.

 

Gifts from Customers

You shall not solicit or accept for yourself, or for a third party,
anything of material value in return for, or in connection with, any business, service, or activity of the Company. You shall not
accept a gift in circumstances where his or her business judgment was influenced by such gift. You shall not allow an immediate
family member or business associate to accept a gift, services, loans or preferential treatment in exchange for a past, current,
or future business relationship with the Company.

 

Disclosure of Potential Conflicts of Interest

You shall immediately disclose to a majority of disinterested members
of the Governance & Compliance Committee of the Board all situations that possess a potential for conflict of interest.

 

Political Donations

You are prohibited from making any contribution to political candidates
on behalf of the Company, without the approval of the Board of Directors. You also may not make any contributions of anything of
value in connection with any federal, state or local candidate’s election without the approval of the Board

    13

     

    

of Directors. The Company makes, and discloses fully, contributions
in state and local elections for the purpose of supporting ballot propositions that are in the interests of the Company and its
several constituencies. Any proposal for political contributions on behalf of the Company or a group of Company employees should
be referred for approval to a majority of disinterested members of the Governance & Compliance Committee of the Board.

 

Confidential Information

You shall not use confidential and nonpublic information in any
manner for personal advantage or to provide advantage to others.

 

Insider Trading

You must at all times comply with all laws and regulations concerning
insider trading. In general, you are prohibited by applicable law from trading in the securities of any company while in possession
of material, nonpublic information (also known as “inside information”) regarding that company. This prohibition applies
to the Company’s securities as well as to the securities of other companies, including the Company’s customers and
suppliers, and to transactions for any account of the Company, client account or personal account. It is also illegal to “tip”
or knowingly pass on inside information to any other person if you know or reasonably suspect that the person receiving such information
from you will misuse such information by trading in securities or passing such information on further, even if you do not receive
any monetary benefit.

 

Investment Prudence

You must not use your position at the Company to obtain leverage
with respect to any investment, including investments in publicly traded securities, and should not accept preferential treatment
of any kind based on your position with the Company in connection with your investments.

 

Cross - Selling Services/Tying Restrictions.

“Tying” arrangements, whereby customers are required
to purchase or provide one product or service as a condition for another being made available, are unlawful in certain instances.
You should consult the Company’s outside legal counsel for advice on tying restrictions. The Company prohibits any such unlawful
requirements.

Anti - Competitive Practices.

The Company is subject to complex laws (known as “antitrust
laws”) designed to preserve competition among enterprises and to protect consumers from unfair business arrangements and
practices. You should avoid discussion of competitively sensitive topics, such as prices, pricing policies, costs and marketing
strategies (except as reasonably required by your job duties).

Anti – Money Laundering Compliance.

Money laundering is the process of converting illegal proceeds
so that funds are made to appear legitimate, and it is not limited to cash transactions. The Company is obligated by law to join
with governments, international organizations and members of the financial services industry to help prevent money laundering.
You must follow all of anti-money laundering policies and procedures.

Nondiscrimination.

The Company endeavors to make all decisions responsibly,
constructively and equitably without bias as to race, color, creed, religion, national origin, sex, marital status, age, veteran’s
status or membership in any other protected class or receipt of public assistance. Failure to do so is against Company policy.

    14

     

    

Misleading Statements.

You shall not make knowingly false or misleading remarks
about suppliers, customers, or competitors, or their products and services.

Corporate Gifts to Others.

You must use care in connection with gifts to others. If
a gift could be viewed as consideration for business, you should not make the gift.

Entertainment.

Legitimate entertainment of reasonable value is an accepted
practice to the extent that it meets all standards of ethical business conduct and involves no element of concealment.

Other Remuneration.

In the conduct of the Company’s business, no bribes,
kickbacks or similar remuneration or consideration of any kind are to be given or offered to any individual or organization for
any reason whatsoever.

Equal Employment Opportunity.

The Company is an equal opportunity employer and you are
expected to comply with all laws concerning discriminatory employment practices. Advancement at the Company is based on talent
and performance. In addition, retaliation against individuals for raising claims of discrimination is prohibited.

Harassment and Intimidation.

The Company prohibits sexual or any other kind of harassment or
intimidation by any Employee, Officer, or Director of the Company. Harassment, whether based on a person’s race, gender,
religion, national origin, disability, sexual orientation, or socioeconomic status, is completely inconsistent with our tradition
of providing a respectful, professional workplace. You must never use company systems to transmit or receive electronic images
or text of a sexual nature or containing ethnic slurs, racial epithets or any other material of a harassing, offensive or lewd
nature.

 

    15

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